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Category: Transport

  • MIL-OSI: ETHRANSACTION Redefines Digital Wealth Creation with One-Click Cloud Mining Contracts

    Source: GlobeNewswire (MIL-OSI)

    Louisville, Kentucky, July 21, 2025 (GLOBE NEWSWIRE) — ETHRANSACTION, the world’s leading compliant cloud mining platform, is redefining the path to wealth creation in digital assets with disruptive technical strength and ultra-high return model! No mining machine, no technology, one-click to start your stable income engine.

    Why are global investors flocking to ETHRANSACTION?

    “Zero-cost start” benefits of real money
    Sign up and get $19! Log in every day to buy a $19 trial contract to earn $0.9, and get up to $46 in additional rewards for 30 consecutive days. Use the start-up funds given by the platform for free to experience the magic of “lying down to earn” digital assets.

    Ultra-high daily interest contracts, visible income
    The platform provides a ladder-type smart contract, and the daily income is transparently credited. For example:
    Invest $23,000 to purchase S21 intermediate contracts (45 days, daily interest rate 1.85%)
    → Daily income = $23,000 × 1.85% = $425.5
    → Total income in 45 days = $425.5 × 45 = $19,147.5
    → The total principal and interest is as high as $42,147.5!
    (Note: Sample data is for reference only, and multiple plans and contracts are available for free selection)
    Contract price $100, contract period 2 days, daily income $9, total income $100+$18, (interest settled every 24 hours)

    Contract price $600.00, contract period 5 days, daily income $7.5, total income $600.00 + $37.5, (interest settled every 24 hours)

    Contract price $1300, contract period 14 days, daily income $16.9, total income $1300 + $236.6, (interest settled every 24 hours)

    Triple fortress-level security

    Fund insurance: Cooperate with British L&G Insurance Company, asset underwriting without worries

    Technical protection: McAfee® anti-hacker + Cloudflare® anti-DDoS attack, financial-grade SSL encryption

    Compliance endorsement: UK FSA regulatory license, transparent and auditable operation

    Flexible multi-currency, free control of income
    Support BTC, ETH, USDT, DOGE, DOGE and other 10+ mainstream currency settlements, withdrawal threshold is only $100! Income can be reinvested or withdrawn at any time, truly realizing “free deposit and worry-free withdrawal”.

    Three steps to start your “after-sleep income” money printing machine:
     Lightning registration, receive $19 in seconds
    Complete certification in 1 minute, $19 bonus will be credited immediately, and start daily automatic income.

    Smart contract selection, customized wealth plan
    From $100 lightweight to $330,000 professional contracts, matching different amounts of funds and goals. All plans have 0 service fees, 0 management fees, and 100% of the income belongs to you!

    Sit back and enjoy the income, and your wealth will grow automatically
    After purchasing the contract, the income will be automatically credited to your account the next day! When your account reaches $100, you can withdraw the currency to any wallet, or roll over the large income with compound interest.

    Fission Wealth Alliance: Make a crazy profit of $370,000+ by recommending!

    ETHRANSACTION launches the strongest recommendation mechanism in the industry:
    ✅ Direct recommendation reward: Enjoy 2%-4% permanent share of your friends’ income
    ✅ Team size incentive: The commission ratio of a team of 100 people is automatically upgraded
    ✅ Unlimited hierarchical income: The subordinate team continues to contribute additional rewards
     The cumulative referral bonus pool is as high as $370,000——Connections are gold mines!

    Beware of fake platforms! Look for the ETHRANSACTION core logo:
    ✅ UK FSA regulatory number available

    ✅ 100% clean energy mining, zero carbon footprint

    ✅ Enterprise-level IDC room, 99.99% online rate throughout the year

    ✅ 24/7 multilingual real-time customer service, 5-minute response to work orders

    Wealth Revelation: In the era of encryption where computing power is king, ETHRANSACTION has popularized institutional-level mining income by aggregating the world’s top mining resources and AI dynamic optimization system. Whether you are a beginner trying the digital economy or a professional player seeking asset hedging, you only need one choice to take this high-speed “passive income train”.

    Take action now! Scan the QR code to download the official APP (support iOS/Android) or log in to the official website directly through the browser https://ethransaction.vip Automatic Wealth Creation Plan

    Email: info@ethransaction.vip
    Website: https://www.ethransaction.vip

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    The MIL Network –

  • MIL-OSI Africa: Ghana has a rare treasure, a crater made when a meteor hit Earth: why it needs to be protected

    Source: The Conversation – Africa – By Marian Selorm Sapah, Senior lecturer, University of Ghana

    Impact craters are formed when an object from space such as a meteoroid, asteroid or comet strikes the Earth at a very high velocity. This leaves an excavated circular hole on the Earth’s surface.

    It is a basic geological process that has shaped the planets from their formation to today. It creates landscapes and surface materials across our solar system. The moon is covered with them, as are planets like Mercury, Mars and Venus. On Earth, impacts have influenced the evolution of life and even provided valuable mineral and energy resources. However, very few of the impact craters on Earth are visible because of various processes that obscure or erase them.

    Most of the recognised impact craters on Earth are buried under sediments or have been deeply eroded. That means they no longer preserve their initial forms.

    The Bosumtwi impact crater in Ghana is different, however. It is well preserved (not deeply eroded or buried under sediments). Its well-defined, near-circular basin, filled by a lake, is surrounded by a prominent crater rim that rises above the surface of the lake and an outer circular plateau. This makes it a target for several research questions.

    As an Earth scientist, I joined a research team from 2019 to better understand the morphology of the crater. We carried out a morphological analysis of the crater (a study of its form, structure and geological features).

    This study concluded that the activities of illegal miners are a threat to the sustainability of the crater. We also discovered that the features of the Bosumtwi impact crater can be considered as a terrestrial representation for a special type of impact crater known as rampart craters. These are common on the planets Mars and Venus and are found on icy bodies of the outer solar system (like Ganymede, Europa, Dione, Tethys and Charon).

    For future studies, the Bosumtwi impact crater can be used to help understand how rampart craters form on Mars and Venus. So the Bosumtwi impact crater should be protected and preserved.

    Read more: Curious Kids: Why are there so few impact craters on Earth?

    The crater

    The Bosumtwi impact crater is in Ghana’s mineral-rich Ashanti gold belt. It is the location of the only natural inland lake in Ghana. As one of the world’s best-preserved young meteorite impact craters it is designated as an International Union of Geological Sciences geoheritage site.

    It is one of only 190 confirmed impact crater sites worldwide, one of only 20 on the African continent. Its lake is one of six meteoritic lakes in the world, recognised for their outstanding scientific value.

    Satellite view of the Bosumtwi Impact Crater showing areas of Artisanal and Small scale Gold Mining activities. David Baratoux

    At almost 1.07 million years old, the crater offers unparalleled opportunities for studying impact processes, climate history and planetary evolution. It’s an irreplaceable natural laboratory for researchers and educators.

    Beyond its scientific importance, the crater holds cultural significance for the Ashanti people of Ghana. The lake at its centre serves as a sacred site and spiritual landmark. The crater’s breathtaking landscape also supports eco-tourism and local livelihoods, contributing to Ghana’s economic development while maintaining exceptional aesthetic value.

    The research

    As part of further research work on the 2019 study, in 2025 we have discovered through field work and satellite data analysis that illegal artisanal mining is prevalent in the area and threatening the crater. This refers to informal, labour-intensive extraction of minerals, primarily gold. It is conducted by individuals or small groups using basic tools and rudimentary machinery. The use of toxic chemicals such as mercury and cyanide, and practices such as river dredging, cause severe environmental harm.

    Illegal miners are encroaching on and around the crater rim, posing severe threats to its environment and sustainability. Their activities have become more prevalent over the course of less than 10 years, indicating a growing problem. If unchecked, it could lead to irreversible damage to the crater.

    These mining operations risk contaminating the lake with toxic heavy metals. The consequences of these are grave. They include destroying critical geological evidence, accelerating deforestation, and degrading the land. All this damages the crater’s scientific, cultural and economic value.

    The International Union of Geological Sciences geoheritage designation of the crater underscores the urgent need for protection measures. The loss of this rare geological wonder would represent not just a national tragedy for Ghana, but a blow to global scientific heritage.

    Immediate action is required. This includes enhanced satellite monitoring (tracking illegal mining, deforestation and environmental changes) using optical imagery (such as Sentinel-2, Landsat, PlanetScope). These tools can detect forest loss, identify mining pits and sediment runoff, and analyse changes over time.

    Stricter enforcement of mining bans, and community engagement programmes, will help preserve the Bosumtwi impact crater’s unique attributes for future generations of scientists, students, tourists and local communities who depend on its resources.

    – Ghana has a rare treasure, a crater made when a meteor hit Earth: why it needs to be protected
    – https://theconversation.com/ghana-has-a-rare-treasure-a-crater-made-when-a-meteor-hit-earth-why-it-needs-to-be-protected-260600

    MIL OSI Africa –

  • MIL-OSI Africa: Africa’s minerals are being bartered for security: why it’s a bad idea

    Source: The Conversation – Africa – By Hanri Mostert, SARChI Chair for Mineral Law in Africa, University of Cape Town

    A US-brokered peace deal between the Democratic Republic of Congo (DRC) and Rwanda binds the two African nations to a worrying arrangement: one where a country signs away its mineral resources to a superpower in return for opaque assurances of security.

    The peace deal, signed in June 2025, aims to end three decades of conflict between the DRC and Rwanda.

    A key part of the agreement binds both nations to developing a regional economic integration framework. This arrangement would expand cooperation between the two states, the US government and American investors on “transparent, formalized end-to-end mineral chains”.

    Despite its immense mineral wealth, the DRC is among the five poorest countries in the world. It has been seeking US investment in its mineral sector.

    The US has in turn touted a potential multi-billion-dollar investment programme to anchor its mineral supply chains in the traumatised and poor territory.

    The peace that the June 2025 deal promises, therefore, hinges on chaining mineral supply to the US in exchange for Washington’s powerful – but vaguely formulated – military oversight.

    The peace agreement further establishes a joint oversight committee – with representatives from the African Union, Qatar and the US – to receive complaints and resolve disputes between the DRC and Rwanda.

    But beyond the joint oversight committee, the peace deal creates no specific security obligations for the US.

    The relationship between the DRC and Rwanda has been marred by war and tension since the bloody First (1996-1997) and Second (1998-2003) Congo wars. At the heart of much of this conflict is the DRC’s mineral wealth. It has fuelled competition, exploitation and armed violence.

    This latest peace deal introduces a resources-for-security arrangement. Such deals aren’t new in Africa. They first emerged in the early 2000s as resources-for-infrastructure transactions. Here, a foreign state would agree to build economic and social infrastructure (roads, ports, airports, hospitals) in an African state. In exchange, it would get a major stake in a government-owned mining company. Or gain preferential access to the host country’s minerals.

    We have studied mineral law and governance in Africa for more than 20 years. The question that emerges now is whether a US-brokered resources-for-security agreement will help the DRC benefit from its resources.

    Based on our research on mining, development and sustainability, we believe this is unlikely.

    This is because resources-for-security is the latest version of a resource-bartering approach that China and Russia pioneered in countries such as Angola, the Central African Republic and the DRC.

    Resource bartering in Africa has eroded the sovereignty and bargaining power of mineral-rich nations such as the DRC and Angola.

    Further, resources-for-security deals are less transparent and more complicated than prior resource bartering agreements.

    DRC’s security gaps

    The DRC is endowed with major deposits of critical minerals like cobalt, copper, lithium, manganese and tantalum. These are the building blocks for 21st century technologies: artificial intelligence, electric vehicles, wind energy and military security hardware. Rwanda has less mineral wealth than its neighbour, but is the world’s third-largest producer of tantalum, used in electronics, aerospace and medical devices.

    For almost 30 years, minerals have fuelled conflict and severe violence, especially in eastern DRC. Tungsten, tantalum and gold (referred to as 3TG) finance and drive conflict as government forces and an estimated 130 armed groups vie for control over lucrative mining sites. Several reports and studies have implicated the DRC’s neighbours – Rwanda and Uganda – in supporting the illegal extraction of 3TG in this region.

    The DRC government has failed to extend security over its vast (2.3 million square kilometres) and diverse territory (109 million people, representing 250 ethnic groups). Limited resources, logistical challenges and corruption have weakened its armed forces.

    This context makes the United States’ military backing enormously attractive. But our research shows there are traps.

    What states risk losing

    Resources-for-infrastructure and resources-for-security deals generally offer African nations short-term stability, financing or global goodwill. However, the costs are often long-term because of an erosion of sovereign control.

    Here’s how this happens:

    Examples of loss or near-loss of sovereignty from these sorts of deals abound in Africa.

    For instance, Angola’s US$2 billion oil-backed loan from China Eximbank in 2004. This was repayable in monthly deliveries of oil, with revenues directed to Chinese-controlled accounts. The loan’s design deprived Angolan authorities of decision-making power over that income stream even before the oil was extracted.

    These deals also fragment accountability. They often span multiple ministries (such as defence, mining and trade), avoiding robust oversight or accountability. Fragmentation makes resource sectors vulnerable to elite capture. Powerful insiders can manipulate agreements for private gain.

    In the DRC, this has created a violent kleptocracy, where resource wealth is systematically diverted away from popular benefit.

    Finally, there is the risk of re-entrenching extractive trauma. Communities displaced for mining and environmental degradation in many countries across Africa illustrate the long-standing harm to livelihoods, health and social cohesion.

    These are not new problems. But where extraction is tied to security or infrastructure, such damage risks becoming permanent features, not temporary costs.

    What needs to change

    Critical minerals are “critical” because they’re hard to mine or substitute. Additionally, their supply chains are strategically vulnerable and politically exposed. Whoever controls these minerals controls the future. Africa must make sure it doesn’t trade that future away.

    In a world being reshaped by global interests in critical minerals, African states must not underestimate the strategic value of their mineral resources. They hold considerable leverage.

    But leverage only works if it is wielded strategically. This means:

    • investing in institutional strength and legal capacity to negotiate better deals

    • demanding local value creation and addition

    • requiring transparency and parliamentary oversight for minerals-related agreements

    • refusing deals that bypass human rights, environmental or sovereignty standards.

    Africa has the resources. It must hold on to the power they wield.

    – Africa’s minerals are being bartered for security: why it’s a bad idea
    – https://theconversation.com/africas-minerals-are-being-bartered-for-security-why-its-a-bad-idea-260594

    MIL OSI Africa –

  • MIL-OSI Africa: Unlocking Africa’s E-Mobility Future: Upcoming Webinar on Public Transport Electrification

    Source: APO

    Electrifying public transport is no longer just an aspiration for Africa—it is rapidly becoming a reality. On Wednesday, 23 July 2025, stakeholders from across the continent and beyond will convene virtually to explore the path forward in a high-impact webinar where industry experts discuss “The Future of Public Transport Electrification in Africa: Opportunities, Trends and Challenges.”

    The webinar will focus on unlocking practical solutions and scalable models to accelerate the shift to zero-emission mobility—particularly electric buses and paratransit systems, which form the backbone of Africa’s urban mobility landscape.

    Key Themes:

    • Energy and Charging Infrastructure
      Practical strategies for grid preparedness, depot-based and on-route charging, and strengthening public-private collaboration.
    • Innovative Procurement Models
      An exploration of models such as leasing, pay-as-you-go, and city-led ownership—what’s working, and where?
    • Electrifying Paratransit
      Addressing one of Africa’s most vital and informal transport systems—minibus taxis and other modes—and how e-mobility can integrate meaningfully into this space.

    Moderator:

    Prian Reddy, Senior Programme Manager: Zero Emission Buses (Africa), C40 Cities

    Expert Panel:

    • Hans van Toor, Strategy & Innovation, Roam
    • Moses Nderitu, Managing Director, BasiGo
    • Justin Coetzee, Founder, GoMetro

    Why You Should Attend:

    • Hear real-world insights from cities and transport operators already rolling out electric buses.
    • Learn about infrastructure readiness, energy strategies, and funding models fit for African cities.
    • Explore how electrification can include and uplift paratransit and informal transport sectors.
    • Connect with the experts and decision-makers shaping Africa’s low-carbon transport future.

    This event is designed for public officials, transport authorities, urban planners, mobility innovators, infrastructure investors, and all professionals interested in the continent’s clean, just energy transition.

    Join us for a crucial conversation that will help define the next phase of Africa’s transport transformation.

    Date: Wednesday, 23 July 2025
    Time: 10:00 WAT / 11:00 SAST & CAT / 12:00 EAT
    Register here: https://apo-opa.co/44GYAlJ

    Distributed by APO Group on behalf of VUKA Group.

    Additional Information:
    Link to Webinar: https://apo-opa.co/44GYAlJ 
    LinkedIN: https://apo-opa.co/4f24pxt 
    Website: https://apo-opa.co/40vphHw 
    Draft Programme: https://apo-opa.co/4f0Nxr4

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    MIL OSI Africa –

  • MIL-OSI Africa: Kaspersky: Advanced Persistent Threat (APT41) targets Southern African organisation in espionage attack

    Source: APO

    Kaspersky Managed Detection and Response experts (www.Kaspersky.co.za) have observed a cyber espionage attack on an organisation in Southern African and have linked it to the Chinese-speaking  APT41 group. Although the threat actor has shown limited activity in Southern Africa, this incident reveals that the cyber attackers have targeted government IT services in one of the countries in the region, attempting to steal sensitive corporate data — including credentials, internal documents, source code, and communications.

    APT (Advanced Persistent Threat) is a category of threat actors known for carrying out concerted, stealthy, and ongoing attacks against specific organisations, as opposed to opportunistic, isolated incidents that account for most cybercriminal activity. The adversaries’ techniques observed during the attack in Southern Africa allowed Kaspersky to attribute it to the Chinese-speaking APT41 group with a high confidence. The primary goal of the attack was cyber espionage, which is typical for this threat actor. The attackers attempted to collect sensitive data from the machines they compromised within the organisation’s network.

    It is noteworthy that APT41 typically has been showing quite limited activity in the Southern African region. APT41 specialises in cyber espionage and targets organisations across various industries, including telecommunications providers, educational and healthcare institutions, IT, energy, and other sectors, with known activity in at least 42 countries.

    Based on Kaspersky experts’ analysis, the attackers may have gained access to the organisation’s network through a web server exposed to the Internet. Using a credential harvesting technique – known in professional terms as registry dumping – the attackers obtained two corporate domain accounts: one with local administrator rights on all workstations and another belonging to a backup solution, which had domain administrator privileges. These accounts allowed the attackers to compromise additional systems within the organisation.

    One of the stealers used for data collection was a modified Pillager utility, designed for exporting and decrypting data. The attackers compiled its code from an executable file into a Dynamic Link Library (DLL). With it, they aimed to gather saved credentials from browsers, databases, administrative tools, as well as project source code, screenshots, active chat sessions and their data, email correspondence, lists of installed software, operating system credentials, Wi-Fi credentials, and other information.

    The second stealer used during the attack was Checkout. In addition to saved credentials and browser history, it was also capable of collecting information on downloaded files and browser-stored credit card data. The attackers also used the RawCopy utility and a version of Mimikatz compiled as a Dynamic Link Library (DLL) to dump registry files and credentials, as well as Cobalt Strike for Command and Control (C2) communication on compromised hosts.

    “Interestingly, as one of their C2 communication channels besides Cobalt Strike, the attackers chose the SharePoint server within the victim’s infrastructure. They communicated with it using custom C2 agents connected with a web-shell. They may have chosen SharePoint because it was an internal service already present in the infrastructure and unlikely to raise suspicion. Moreover, in that case, it probably offered the most convenient way to exfiltrate data and control compromised hosts through a legitimate communication channel,” explains Denis Kulik, Lead SOC Analyst at Kaspersky Managed Detection and Response service.

    “In general, defending against such sophisticated attacks is impossible without comprehensive expertise and continuous monitoring of the entire infrastructure. It is essential to maintain full security coverage across all systems with solutions capable of automatically blocking malicious activity at an early stage — and to avoid granting user accounts excessive privileges,” comments Denis Kulik.

    To mitigate or prevent similar attacks, organisations are advised to follow these best practices:

    • Ensure that security agents are deployed on all workstations within the organisation without exception, to enable timely incident detection and minimise potential damage.
    • Review and control service and user account privileges, avoiding excessive rights assignments – especially for accounts used across multiple hosts within the infrastructure.
    • To protect the company against a wide range of threats, use solutions from the Kaspersky Next (https://apo-opa.co/44EI2e3) product line that provide real-time protection, threat visibility, investigation and the response capabilities of EDR and XDR for organisations of any size and industry. Depending on your current needs and available resources, you can choose the most relevant product tier and easily migrate to another one if your cybersecurity requirements are changing.
    • Adopt managed security services by Kaspersky such as Compromise Assessment (https://apo-opa.co/4m8aElL), Managed Detection and Response (MDR) (https://apo-opa.co/4m6do37) and / or Incident Response (https://apo-opa.co/44VsAsP), covering the entire incident management cycle – from threat identification to continuous protection and remediation.  They help to protect against evasive cyberattacks, investigate incidents and get additional expertise even if a company lacks cybersecurity workers.
    • Provide your InfoSec professionals with an in-depth visibility into cyberthreats targeting your organisation. The latest Kaspersky Threat Intelligence (https://apo-opa.co/3TQbRlK) will provide them with rich and meaningful context across the entire incident management cycle and helps them identify cyber risks in a timely manner.

    A detailed analysis of the incident is available on Securelist (https://apo-opa.co/46mfGGS).

    Kaspersky Managed Detection and Response service monitors suspicious activity and helps organisations respond swiftly to minimise impact. This is a part of Kaspersky Security Services, a team delivering hundreds of information security projects every year for Fortune Global 500 organisations: incident response, managed detection, SOC consulting, red teaming, penetration testing, application security, digital risks protection. 

    Distributed by APO Group on behalf of Kaspersky.

    For further information please contact:
    Nicole Allman
    nicole@inkandco.co.za

    Social Media:
    Facebook: https://apo-opa.co/414B7bE
    X: https://apo-opa.co/4lYjIJQ
    YouTube: https://apo-opa.co/452Opa9
    Instagram: https://apo-opa.co/4lGn6JK
    Blog: https://apo-opa.co/4l8kweB

    About Kaspersky:
    Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure, and governments around the globe. The company’s comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and over 200,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za. 

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    MIL OSI Africa –

  • MIL-OSI Africa: Morocco: African Development Bank approves €100 Million to empower women and youth entrepreneurs in building inclusive and sustainable agriculture

    Source: APO

    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €100 million loan to support Morocco’s inclusive solidarity-based agriculture program, focused on empowering women and young people.

    The project aims to generate sustainable economic opportunities for women and youth, boost food security, and strengthen the resilience of small-scale farming against climate change. It will stimulate entrepreneurship through tailored financing and incentive mechanisms and by bolstering technical and financial support systems.

    The program will also facilitate the deployment of new agricultural production and service infrastructure, helping to anchor women in local value chains, strengthen their skills, and boost their productivity. These actions will encourage the emergence of women entrepreneurs across agriculture, agro-processing and digital technologies. It will support the new roadmap for employment by promoting rural entrepreneurship.

    “Women who have the ambition to undertake and succeed in agriculture are our priority,” said Achraf Tarsim, head of the African Development Bank country office in Morocco. “Through this new operation, we will support them step by step to build a modern, inclusive and resilient agriculture, capable of revealing the full potential of those who aspire to innovate and create value and employment in their territories.”

    Aligned with Morocco’s priorities, the program will support the implementation of the Green Generation 2020-2030 Strategy, Morocco’s plan for transforming agriculture into a more inclusive, sustainable and efficient sector; the National Solidarity Agriculture Program, and the National Youth Entrepreneurship Program.

    For more than 50 years, the African Development Bank Group has supported the Kingdom in a partnership based on a shared and integrated vision of development. Over the period, the Bank invested nearly €15 billion in more than 150 high-impact projects in strategic sectors such as transport, water, energy, agriculture, social protection, governance and finance.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media contact:
    Fahd Belbachir
    Principal Communication and External Relations Officer
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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    MIL OSI Africa –

  • MIL-OSI United Kingdom: British Muslim Trust appointed as new partner to monitor and tackle anti-Muslim hatred

    Source: United Kingdom – Government Statements

    News story

    British Muslim Trust appointed as new partner to monitor and tackle anti-Muslim hatred

    The Combatting Hate Against Muslims Fund was established this year to tackle the record levels of anti-Muslim hate.

    • British Muslim Trust will receive funding as part of a new government drive against record levels of anti-Muslim hate.
    • Funding will boost victim support and strengthen hate crime reporting nationwide.
    • The Trust unites decades of expertise from Aziz Foundation and Randeree Charitable Trust.

    The British Muslim Trust (BMT) has been selected as the recipient of the government’s new Combatting Hate Against Muslims Fund, a key initiative to address the rise in anti-Muslim hatred across England.

    The fund was established this year to respond to the evolving nature of religious intolerance and targeted hate incidents faced by Muslim communities, which are at the highest level on record.

    BMT will use the funding to develop a robust reporting system that captures both online and offline incidents of anti-Muslim hatred, including those that may go unreported to the police.

    It will also enable the organisation to provide direct support to victims, raise awareness of what constitutes a hate crime, and encourage greater reporting from affected communities.

    Lord Khan, Minister for Faith, said:

    The rise of anti-Muslim hatred in this county is alarming and deeply concerning.

    That’s why we established this new fund: to ensure we’re doing everything we can to deeply understand the situation our Muslim communities are facing, provide them with the support they need and give us the tools needed to tackle this unacceptable hatred.

    I look forward to working with the British Muslim Trust on our shared ambition to create a safer, more tolerant society for everyone as part of our Plan for Change.

    By analysing the data collected, the BMT will help identify the trends and drivers behind these incidents, providing the government with the evidence needed to shape effective policy and inform action to tackle anti-Muslim hate moving forward, helping to deliver on our Safer Streets mission as part of our Plan for Change.

    The BMT brings together the Aziz Foundation and Randeree Charitable Trust to form a comprehensive organisation, combining their expertise and strong community foundations, gained from over twenty-years of work, to meet the demands of today’s landscape.

    Shabir Randeree, CBE, will serve as the Chair of the Board of Directors, bringing with him a wealth of cross-sector experience, knowledge and a firm commitment to championing the welfare of ethnic minorities in Britain.

    Shabir Randeree, Chair of the Board of Directors at the British Muslim Trust, said:

    Tackling anti-Muslim hatred is essential to building safer, more inclusive communities – and we are proud to have been appointed to deliver this important work.

    The British Muslim Trust will work closely with partners across the country to support victims, listen to communities, and help ensure that every person can live free from fear and hatred.

    Notes to Editors:

    • The British Muslim Trust will begin receiving reports and monitoring incidents from early autumn.
    • In establishing the BMT, The Aziz Foundation and Randeree Charitable Trust have also worked closely with Akeela Ahmed MBE, who they intend to appoint as CEO, drawing on her decades of experience in working with grassroots organisations and policy-level anti-hate work.
    • Incidents of hate crime directed towards Muslims is at a record high in England and Wales – as set out in recent government statistics: Hate crime, England and Wales, year ending March 2024 – GOV.UK
    • The window to bid for this funding under the Combatting Hate Against Muslims Fund ran from 7 April for six weeks. More information about the assessment criteria used to select the grant partner can be found in the fund’s prospectus, linked here: Combatting Hate Against Muslims fund: prospectus – GOV.UK
    • The Randeree Charitable Trust has spent decades supporting and funding organisations which work to empower young people, support interfaith dialogue, religious understanding and community cohesion. Through this work, the Trust has built a deep and widespread network which will support in establishing the British Muslim Trust’s within communities across the country.

    • The Aziz Foundation supports individuals from British Muslim communities by empowering them to advance their careers and make valuable contributions to society through providing Master’s scholarships and other resources. The foundation has spent a decade nurturing confident leaders of Muslim background to address social challenges and promote positive change within their communities and beyond.

    • NPCC’s National Police Advisor for Hate Crime Paul Giannasi said:

    “The Crime Survey for England and Wales demonstrates that hate crime has a greater impact on victims when compared to non-targeted crime. It damages our society, creating fear and division in communities that are targeted. 

    “We also know that hate crime has traditionally been underreported and have seen evidence that this is a particular challenge with those affected by anti-Muslim hatred.

    “The police will not tolerate hate crime and would encourage all victims to report crimes, whether direct to the police or through third-party facilities provided by community groups. 

    “We welcome the funding that government has committed to address this issue and any initiative that helps victims to seek and receive the services they deserve.”

    • Imam Qasim, Exec. Chairman & Founder, Al-Khair Foundation, said:

    “Al Khair Foundation welcomes the establishment of the British Muslim Trust as a dedicated platform through which members of the public may report hate crimes. 

    “This timely and much-needed initiative constitutes a significant milestone in the advancement of community cohesion and the restoration of trust and confidence among affected communities.”

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: SPbPU representatives took part in the cross-university examination of the Priority-2030 program

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    The Sociocenter, with the support of the Ministry of Education and Science of Russia, has completed the selection of experts to conduct a cross-university examination of the implementation of the Priority-2030 program. Among them are the head of the SPbPU Office of Technological Leadership Oleg Rozhdestvensky, Vice-Rector for Continuing and Pre-University Education Dmitry Tikhonov and Director of the Department of Economics and Finance Elena Vinogradova.

    In total, 156 representatives of universities participating in the Priority 2030 program and scientific organizations will be involved in the cross-university examination of the Priority 2030 program.

    The selection of experts was a multi-stage process. At the correspondence stage, the selection committee assessed the professional experience and motivation of candidates based on their resumes and essays. As a result, 225 people received an invitation to an educational intensive course at Bauman Moscow State Technical University. There, the candidates’ leadership qualities, teamwork skills, ability to analyze information and formulate constructive proposals were assessed. The final stage was an online meeting with the participation of expert candidates, representatives of the Sociocenter and the Ministry of Education and Science of Russia, at which five strategically important areas of modern higher education were formulated:

    target model and strategic positioning; university development management; strategic technology projects and change projects; knowledge production, transfer and application system for technological leadership; leadership and development team.

    After the final list of experts was approved, the Sociocenter team began the final preparation of a large-scale expert work that will cover 113 universities participating in the Priority 2030 program. From September, experts will begin visiting universities across the country to assess their condition and develop recommendations for further development.

    Cross-university assessment is an innovative format for assessing the activities of universities, in which the assessment is carried out by representatives of the professional community of university specialists themselves. This mechanism allows combining the principles of objective assessment with the possibility of mutual learning and dissemination of best practices.

    “This is an excellent expert tool that has not only proven its effectiveness over the past couple of years, but has also ensured the formation of a community of qualified specialists in the field of university development,” commented Oleg Rozhdestvensky, Head of the SPbPU Office of Technological Leadership. “And the main difference this year is that such expert work is becoming systemic — more and more people and universities are getting involved. This is extremely important given the focus of most universities on the federal agenda of achieving technological leadership and the upcoming changes in the higher education system in the country.”

    The Russian Ministry of Education and Science has been implementing the Priority 2030 program since 2021. Since 2025, the program has become part of the federal project Universities for a Generation of Leaders of the national project Youth and Children.

    Based on materials from the Federal State Autonomous Institution “Sociocenter”

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: 2,139 freight trains passed through Manzhouli checkpoint in January-June this year

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 21 (Xinhua) — A total of 2,139 freight trains passed through Manzhouli Port on China-Europe international freight routes in the first half of this year, the press service of the people’s government of the city of the same name in the Inner Mongolia Autonomous Region said Monday.

    These trains transported about 228 thousand standard containers /twenty-foot equivalent unit, TEU/. In particular, 1,360 similar trains passed through this border crossing in the opposite direction, delivering more than 141 thousand TEU to China. Compared to the same period last year, both indicators increased by 7.4 percent and 5.4 percent, respectively.

    As of last month, in terms of the volume of freight train transportation on return trips through the Manzhouli border crossing, this border crossing has been ranked first in the country for six months in a row.

    The Manzhouli checkpoint is located on the border of China with the Zabaikalsky Krai of Russia. Currently, China-Europe freight trains entering China connect Manzhouli with more than 60 cities in the country, including Harbin, Shanghai and Guangzhou. The range of products imported to China through this checkpoint includes essential goods, electronics, cars, edible oil, lumber, etc. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: CPC launches new round of disciplinary inspections

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 21 (Xinhua) — China has launched the sixth round of routine disciplinary inspections by the 20th Central Committee of the Communist Party of China (CPC Central Committee). As of Sunday, teams of inspectors had been dispatched to 16 provinces, autonomous regions and municipalities directly under the central government, according to an official statement released Monday.

    In addition, joint inspections will be carried out in 10 sub-provincial cities in cooperation with relevant inspection authorities at the provincial level.

    According to the statement, the work under the new round of disciplinary inspections will focus on violations of political and organizational discipline, as well as discipline in following the principles of honesty and integrity, discipline in relation to the masses, labor and everyday discipline.

    Teams of inspectors will be deployed to designated units for a period of approximately two and a half months. Access to duty telephone lines and mailboxes will be open to receive messages and complaints from the public until September 23 this year. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft sums up the results of the polar bear field research season

    Translation. Region: Russian Federal

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Specialists from the Rosneft Arctic Research Center, together with scientists from the country’s leading research institutes, have summed up the results of the polar bear field season as part of the Tamura corporate biodiversity conservation program. Three expeditions were conducted in the spring to study the Arctic predator population.

    Representatives of the Company, the Ministry of Natural Resources and Environment of the Russian Federation, the A.N. Severtsov Institute of Ecology and Evolution of the Russian Academy of Sciences, as well as specialists from the Biotechnology Campus (BTC) Center for Whole-Genome Sequencing, spoke about scientific work in the north of Krasnoyarsk Krai at a press breakfast.

    In 2025, scientists were faced with the task of conducting the first full-scale aerial survey of the Kara subpopulation of polar bears in Russian practice. Specialists made 25 flights, the total length of air routes was almost 24 thousand km. During the expeditions, about 170 thousand photographs were taken, as well as 540 thousand infrared photographs, which will be processed using artificial intelligence.

    According to the expedition participants, 8 flights of the laboratory aircraft were made from the village of Sabetta in Yamal for a comprehensive survey of the inner delta of the Gulf of Ob and the southeastern part of the Kara Sea. During the aerial visual observations, 22 polar bears, 23 walruses, 616 seals, 77 belugas, and rare bird species were recorded.

    Ten helicopter flights were made from the village of Dikson to survey the ice of a number of islands, as well as the ice in the Yenisei Gulf to Sever Bay and along the northern coast of the Taimyr Peninsula to the mouth of the Uboynaya River. During the work, 37 polar bears of various ages and both sexes were registered. 10 animals were tagged with satellite collars and ear tags for remote tracking of migration routes. Scientists also took samples of the polar bears’ fur and blood to study their health and genetic affiliation to a particular subpopulation – the samples are already being studied by BTK specialists. The location of two abandoned polar bear maternity dens and the habitat of the bears’ main food source – the ringed seal – were also determined.

    Also from the village of Dikson, scientists surveyed the central and south-eastern waters of the Kara Sea. Specialists carried out 7 flights and registered 12 polar bears, 16 belugas and 420 seals. Specialists noted that based on the results of the work, the number and distribution density of polar bears and their food sources in the Kara Sea will be determined.

    Rosneft pays special attention to environmental issues and biodiversity conservation and is implementing the largest comprehensive Arctic region study program since Soviet times. The goal of the new Tamura research program, which started in 2024, is to update information on the state of key animal species in the northern region. The Tamura program includes studying the Kara subpopulation of polar bears, wild reindeer populations in western Taimyr, and valuable bird and fish species in the Yenisei estuary. The data obtained will allow scientists to draw conclusions about the state of ecosystems and develop measures to preserve the region’s biodiversity. In 2024, scientists conducted five expeditions, and ten expeditions will be held in total over four years.

    Department of Information and AdvertisingPJSC NK RosneftJuly 21, 2025

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

    .

    MIL OSI Russia News –

  • MIL-OSI Security: Smithfield man sentenced to over two years in prison for illegally possessing a firearm

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    NEWPORT NEWS, Va. – A Smithfield man was sentenced yesterday to two years and four months in prison for being a felon in possession of a firearm.

    According to court documents, on May 25, 2024, law enforcement conducted a traffic stop on Ahmod Keshawn Finney, 24, and placed him in custody pursuant to outstanding state arrest warrants. While Finney was being detained, officers observed and recovered a loaded handgun from the vehicle. The handgun was stolen and was equipped with an extended magazine and a machinegun conversion device.

    As a previously convicted felon, Finney cannot legally possess firearms or ammunition.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Anthony A. Spotswood, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives Washington Field Division; Col. Matthew D. Hanley, Superintendent of Virginia State Police; and Steve R. Drew, Chief of Newport News Police, made the announcement after sentencing by U.S. District Judge Jamar K. Walker.

    Assistant U.S. Attorney Peter G. Osyf prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 4:24-cr-86.

    MIL Security OSI –

  • MIL-OSI Security: U.S. Attorney’s Office Filed 84 Border-Related Cases This Week

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    SAN DIEGO – Federal prosecutors in the Southern District of California filed 84 border-related cases this week, including charges of assault on a federal officer, bringing in aliens for financial gain, reentering the U.S. after deportation, and importation of controlled substances.

    The U.S. Attorney’s Office for the Southern District of California is the fourth-busiest federal district, largely due to a high volume of border-related crimes. This district, encompassing San Diego and Imperial counties, shares a 140-mile border with Mexico. It includes the San Ysidro Port of Entry, the world’s busiest land border crossing, connecting San Diego (America’s eighth largest city) and Tijuana (Mexico’s second largest city).

    In addition to reactive border-related crimes, the Southern District of California also prosecutes a significant number of proactive cases related to terrorism, organized crime, drugs, white-collar fraud, violent crime, cybercrime, human trafficking and national security. Recent developments in those and other significant areas of prosecution can be found here.

    A sample of border-related arrests this week:

    • On July 11, Nicolas Duarte-Moreno, a Mexican citizen, was arrested and charged with Bringing in Aliens for Financial Gain. According to a complaint, Duarte-Moreno was arrested by Customs and Border Protection officers after he attempted to enter the U.S. in a Mitsubishi Eclipse Spyder through a Sentri lane at the Otay Mesa Port of Entry with an undocumented immigrant hiding in the vehicle. Officers found the immigrant from Guatemala concealed in the cargo area where the convertible top retracts. While CBP officials dismantled the cargo area by removing bolts and speakers to find and extricate the immigrant, he complained that he could not breathe. He was immediately taken to a hospital.
    • On July 15, Luis Angel Galvez Alvarez, Julio Cesar Oros Castro and Francisco Javier Castro Acosta, all Mexican citizens, were arrested and charged with Importation of a Controlled Substance. According to a complaint, the trio attempted to enter the U.S. about the same time, each driving a Freightliner tractor through the Otay Mesa Commercial Facility. Customs and Border Protection officers stopped each vehicle; they found about 29 pounds of cocaine concealed in the walls behind the beds of each tractor. The complaint said all three drivers admitted they were employed by the same trucking company.
    • On July 16, Jorge Ismael Valencia-Julian, a Mexican citizen, was arrested and charged with Deported Alien Found in the United States. According to a complaint, Valencia-Julian was arrested by a Border Patrol agent who tracked his footprints for five hours as the defendant tried to escape in rough terrain. Valencia-Julian was previously deported in March 2024 at the San Ysidro Port of Entry.

    Also recently, a number of defendants with criminal records were convicted by a jury or sentenced for border-related crimes such as illegally re-entering the U.S. after previous deportation. Here are a few of those cases:

    • On July 11, 2025, Ricardo Velez-Torres, a Mexican National who was previously convicted of Burglary in the First Degree in 2006 and Illegal Reentry in 2002, was sentenced in federal court to 21 months in custody for again entering the U.S. illegally.
    • On July 18, Julio Leyva-Solis, a Mexican national who was previously convicted of the felony facilitation of human smuggling, felony theft of property on three occasions, and felony possession of methamphetamine, was sentenced in federal court to 12 months plus one day in custody for again entering the U.S illegally.

    Pursuant to the Department’s Operation Take Back America priorities, federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

    The immigration cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), Customs and Border Protection, U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with the support and assistance of state and local law enforcement partners.

    Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Security: Pierre Man Sentenced to More Than 12 Years in Federal Prison for Distributing Methamphetamine in Central South Dakota

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    PIERRE – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Eric C. Schulte has sentenced a Pierre, South Dakota, man convicted of Conspiracy to Distribute a Controlled Substance and Possession of a Firearm by a Prohibited Person. The sentencing took place on July 14, 2025.

    Scott Reiners, age 37, was sentenced to 12 years and four months in federal prison, followed by five years of supervised release, and ordered to pay a $200 special assessment to the Federal Crime Victims Fund. Reiners was further ordered to pay a $1,000 fine.

    Reiners was indicted by a federal grand jury in July 2024 . He pleaded guilty on April 3, 2025.

    The conviction stemmed from a drug conspiracy between September 2022 and April 2023 in which Reiners and several other individuals conspired to distribute methamphetamine in and around the central South Dakota area, including within the Crow Creek and Lower Brule Sioux Indian Reservations. As part of the conspiracy, Reiners was involved in distributing between 5 kilograms and 15 kilograms of methamphetamine. Reiners was also involved in a traffic stop where law enforcement seized 254 grams of 97% pure methamphetamine and a handgun. Reiners is prohibited from possessing firearms due to three prior felony convictions.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    This case was investigated by the Federal Bureau of Investigation, the Bureau of Indian Affairs, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Assistant U.S. Attorney Meghan Dilges prosecuted the case.

    Reiners was immediately remanded to the custody of the U.S. Marshals Service. 

    MIL Security OSI –

  • MIL-OSI Analysis: Idi Amin made himself out to be the ‘liberator’ of an oppressed majority – a demagogic trick that endures today

    Source: The Conversation – Global Perspectives – By Derek R. Peterson, Ali Mazrui Professor of History & African Studies, University of Michigan

    Idi Amin addresses the United Nations General Assembly in 1975. Bettmann/Getty Images

    Fifty years ago, Ugandan President Idi Amin wrote to the governments of the British Commonwealth with a bold suggestion: Allow him to take over as head of the organization, replacing Queen Elizabeth II.

    After all, Amin reasoned, a collapsing economy had made the U.K. unable to maintain its leadership. Moreover the “British empire does not now exist following the complete decolonization of Britain’s former overseas territories.”

    It wasn’t Amin’s only attempt to reshape the international order. Around the same time, he called for the United Nations headquarters to be moved to Uganda’s capital, Kampala, touting its location at “the heart of the world between the continents of America, Asia, Australia and the North and South Poles.”

    Amin’s diplomacy aimed to place Kampala at the center of a postcolonial world. In my new book, “A Popular History of Idi Amin’s Uganda,” I show that Amin’s government made Uganda – a remote, landlocked nation – look like a frontline state in the global war against racism, apartheid and imperialism.

    Doing so was, for the Amin regime, a way of claiming a morally essential role: liberator of Africa’s hitherto oppressed people. It helped inflate his image both at home and abroad, allowing him to maintain his rule for eight calamitous years, from 1971 to 1979.

    The phony liberator?

    Amin was the creator of a myth that was both manifestly untrue and extraordinarily compelling: that his violent, dysfunctional regime was actually engaged in freeing people from foreign oppressors.

    The question of Scottish independence was one of his enduring concerns. The “people of Scotland are tired of being exploited by the English,” wrote Amin in a 1974 telegram to United Nations Secretary General Kurt Waldheim. “Scotland was once an independent country, happy, well governed and administered with peace and prosperity,” but under the British government, “England has thrived on the energies and brains of the Scottish people.”

    Even his cruelest policies were framed as if they were liberatory. In August 1972, Amin announced the summary expulsion of Uganda’s Asian community. Some 50,000 people, many of whom had lived in Uganda for generations, were given a bare three months to tie up their affairs and leave the country. Amin named this the “Economic War.”

    In the speech that announced the expulsions, Amin argued that “the Ugandan Africans have been enslaved economically since the time of the colonialists.” The Economic War was meant to “emancipate the Uganda Africans of this republic.”

    “This is the day of salvation for the Ugandan Africans,” he said. By the end of 1972, some 5,655 farms, ranches and estates had been vacated by the departed Asian community, and Black African proprietors were queuing up to take over Asian-run businesses.

    Ugandan Asian refugees arrive at an airport in the U.K. after being expelled from Uganda.
    P. Felix/Daily Express/Hulton Archive/Getty Images

    A year later, when Amin attended the Organization of African Unity summit in Addis Ababa, Ethiopia, his “achievements” were reported in a booklet published by the Uganda government. During his speech, Amin was “interrupted by thunderous applauses of acclamation and cheers, almost word for word, by Heads of State and Government and by everybody else who had a chance to hear it,” according to the the report.

    It was, wrote the government propagandist, “very clear that Uganda had emerged as the forefront of a True African State. It was clear that African nationalism had been born again. It was clear that the speech had brought new life to the freedom struggle in Africa.”

    Life at the front

    Amin’s policies were disastrous for all Ugandans, African and Asian alike. Yet his war of economic liberation was, for a time, a source of inspiration for activists around the world. Among the many people gripped by enthusiasm for Amin’s regime was Roy Innis, the Black American leader of the civil rights organization Congress of Racial Equality.

    In March 1973, Innis visited Uganda at Amin’s invitation. Innis and his colleagues had been pressing African governments to grant dual citizenship to Black Americans, just as Jewish Americans could earn citizenship from the state of Israel.

    Over the course of their 18 days in Uganda, the visiting Americans were shuttled around the country in Amin’s helicopter. Everywhere, Innis spoke with enthusiasm about Amin’s accomplishments. In a poem published in the pro-government Voice of Uganda around the time of his visit, Innis wrote:

    “Before, the life of your people was a complete bore,

    And they were poor, oppressed, exploited and economically sore.

    And you then came and opened new, dynamic economic pages.

    And showered progress on your people in realistic stages.

    In such expert moves that baffled even the great sages,

    your electric personality pronounced the imperialists’ doom.

    Your pragmatism has given Ugandans their economic boom.”

    In May 1973, Innis was back in Uganda, promising to recruit a contingent of 500 African American professors and technicians to serve in Uganda. Amin offered them free passage to Uganda, free housing and free hospital care for themselves and their families. The American weekly magazine Jet predicted that Uganda was soon to become an “African Israel,” a model nation upheld by the energies and knowledge of Black Americans.

    Roy Innis, national director of the Congress of Racial Equality, in 1972.
    Bettmann/Getty Images

    As some have observed, Innis was surely naive. But his enthusiasm was shared by a great many people, not least a great many Ugandans. Inspired by Amin’s promises, their energy and commitment kept institutions functioning in a time of great disruption. They built roads and stadiums, constructed national monuments and underwrote the running costs of government ministries.

    Patriotism and demagoguery

    Their ambitions were soon foreclosed by a rising tide of political dysfunction. Amin’s regime came to a violent end in 1979, when he was ousted by the invading army of Tanzania and fled Uganda.

    But his brand of demagoguery lives on. Today a new generation of demagogues claim to be fighting to liberate aggrieved majorities from outsiders’ control.

    In the 1970s, Amin enlisted Black Ugandans to battle against racial minorities who were said to dominate the economy and public life. Today an ascendant right wing encourages aggrieved white Americans to regard themselves as a majority dispossessed of their inheritance by greedy immigrants.

    Amin encouraged Ugandans to regard themselves as frontline soldiers, engaged in a globally consequential war against foreigners. In today’s America, some people similarly feel themselves deputized to take matters of state into their own hands. In January 2021, for instance, a right-wing group called “Stop the Steal” organized a rally in Washington. Vowing to “take our country back,” they stormed the Capitol building.

    The racialized demagoguery that Idi Amin promoted inspired the imagination of a great many people. It also fed violent campaigns to repossess a stolen inheritance, to reclaim properties that ought, in the view of the aggrieved majority, to belong to native sons and daughters. His regime is for us today a warning about the compelling power of demagoguery to shape people’s sense of purpose.

    Derek R. Peterson receives funding from the John D. and Catherine T. MacArthur Foundation and the Andrew Mellon Foundation.

    – ref. Idi Amin made himself out to be the ‘liberator’ of an oppressed majority – a demagogic trick that endures today – https://theconversation.com/idi-amin-made-himself-out-to-be-the-liberator-of-an-oppressed-majority-a-demagogic-trick-that-endures-today-256969

    MIL OSI Analysis –

  • MIL-OSI Asia-Pac: Hostel scheme applications open

    Source: Hong Kong Information Services

    The Development Bureau and the Education Bureau announced that the Hostels in the City Scheme will start accepting applications today.

    Through the scheme, the Government has streamlined development control procedures to encourage and facilitate the market to convert commercial buildings into student hostels on a self-financing privately funded basis to increase the supply of hostel places, thereby strengthening Hong Kong’s position as an international hub for post-secondary education.

    Specifically, operators may make use of the facilitation measures under the scheme to apply for converting commercial buildings into eligible student hostels.

    In terms of planning procedures, the Town Planning Board has already expanded the definition of “Hotel” under the planning regime to cover eligible student hostels under the scheme. As a result, since “Hotel” is an always permitted use in most commercial sites, no planning procedures would be required for converting those commercial buildings into student hostels.

    Under the buildings regime, converted student hostels under the scheme will continue to be treated as non-domestic buildings for plot ratio and site coverage calculations, meaning that the existing gross floor area (GFA) of the commercial building can be retained.

    Moreover, facilities previously exempted from GFA calculations before conversion, such as car parking spaces and loading/unloading areas, can be retained and continue to be exempted from GFA calculation, so as to facilitate developers/operators to flexibly convert these facilities into facilities supporting hostel uses, such as gyms and study rooms, so that the hostel better suits the study and daily needs of the student tenants.

    In terms of land administration, most of the leases stated for non-industrial use allow student hostel use without the need for lease modification or payment of premiums. For the small number of cases where a lease modification is needed, the Lands Department will assess the amount of premium payment.

    The scheme welcomes wholesale conversion of an entire commercial building into a student hostel, while permitting partial conversion if specific conditions are fulfilled.

    Industrial buildings and buildings in industrial zonings are not eligible under the scheme. However, commercial buildings that have undergone wholesale conversions from industrial buildings located on non-industrial zonings would be eligible under the scheme, provided that the relevant land administration procedures have been completed.

    Interested developers/operators need to submit applications to the Education Bureau using a prescribed form, and fulfil eligibility criteria under the scheme.

    The Government has launched a dedicated website to announce the scheme’s details. The Education Bureau will also publish the list of student hostels with approvals secured on the website in the future.

    The Development Projects Facilitation Office under the Development Bureau will provide one-stop facilitation services to applicants, including handling enquiries related to facilitation measures and application progress.

    MIL OSI Asia Pacific News –

  • MIL-OSI: TLGY Acquisition Corp. Announces Business Combination and Approximately $360 Million PIPE Financing to Form StablecoinX, an Ethena Stablecoin-Focused Treasury Company

    Source: GlobeNewswire (MIL-OSI)

    Combined Business Expected to be the First Pure-Play Treasury Company in the Ethena Stablecoin Vertical and Will Seek to have its Shares Listed on Nasdaq under Ticker “USDE” at Closing

    Ethena Foundation to Immediately Initiate $260M Token Buyback Program  

    New York , July 21, 2025 (GLOBE NEWSWIRE) — TLGY Acquisition Corp. (OTC: TLGYF) (“TLGY”), a special purpose acquisition company, today announced that it has entered into a definitive agreement for a business combination with StablecoinX Assets Inc. (“SC Assets”), a newly-formed validator and infrastructure business supporting the Ethena ecosystem (the definitive agreement, the “Business Combination Agreement” and the transactions contemplated thereby, the “Transaction”). The combined company will be named StablecoinX Inc. (“StablecoinX” or the “Company”) and the parties will seek to have StablecoinX’s Class A common shares listed on Nasdaq under the ticker symbol “USDE.”

    Approximately $360 Million in New Capital Anchors ENA Treasury Strategy

    To support the Transaction, TLGY and SC Assets have also entered into binding agreements for approximately $360 million private investment in public equity (“PIPE”), including a $60 million contribution from the Ethena Foundation and additional capital commitments from leading investors Dragonfly, Ribbit Capital, Blockchain.com, Pantera Capital, ParaFi Capital, Haun Ventures, Polychain Capital, Galaxy Digital, Wintermute, and others.

    The proceeds from the PIPE are expected to anchor a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token. Ethena is the third-largest issuer of digital dollars on-chain, after Tether and Circle. This treasury initiative supports StablecoinX’s objective of generating shareholder value by securing a strategic stake in a protocol at the forefront of the accelerating global demand for digital dollars. StablecoinX believes large-scale ENA accumulation will enable the Company’s shareholders to secure early exposure to the secular stablecoin supercycle. 

    “As a top issuer of digital dollars alongside Tether and Circle, Ethena is a direct beneficiary of the growth in stablecoin adoption,” said Young Cho, CEO of TLGY and CEO of SC Assets. “But, it is currently difficult for investors to capitalize on its strong position since the native token ENA is difficult to access in traditional capital markets. This transaction gives public market investors transparent, well‑governed access to the Ethena ecosystem. Deploying capital to accumulate ENA at scale is a deliberate, multi‑year capital allocation strategy that will enable StablecoinX to capture the value driven by the secular surge in demand for digital dollars while compounding intrinsic value per share.”

    To support StablecoinX’s operations and facilitate its accumulation of ENA after the closing of the Transactions, StablecoinX and the Ethena Foundation have entered into a multi-year collaboration agreement (the “Collaboration Agreement”) governing the continued partnership between the two parties. In addition, to help support the PIPE, a subsidiary of the Ethena Foundation and  SC Assets, solely in its capacity as agent for certain of the PIPE investors, have entered into a token purchase agreement (the “Token Purchase Agreement”), pursuant to which SC Assets will use the cash proceeds from the PIPE to make an initial purchase of discounted locked ENA from the Ethena Foundation subsidiary.

    “The Ethena Foundation’s mandate is to safeguard Ethena’s longevity and decentralisation,” said Marc Piano, Director at the Ethena Foundation. “Partnering with StablecoinX under a disciplined, locked‑token framework ensures that capital entering the ecosystem is long-term and value‑accretive while enhancing ecosystem capital efficiency. The built‑in lockups, investment‑committee oversight and permanent‑capital mandate create strong incentives for sustained contribution to the protocol.”

    The Ethena Foundation subsidiary, via intermediary market makers, plans to use the proceeds from the token sale under the Token Purchase Agreement to strategically purchase ENA across publicly traded venues starting today, further aligning the Foundation’s incentives with those of StablecoinX shareholders.

    “StablecoinX’s treasury program is a milestone for broadening institutional access to the Ethena ecosystem,” said Guy Young, founder of Ethena Labs and advisor to StablecoinX. “By systematically accumulating ENA through a transparent, permanent‑capital vehicle, StablecoinX will give public market investors a clear, accessible way to gain exposure to one of the most compelling growth stories in all of finance – digital dollars upgrading money to the internet era. We’re excited to support a strategy that deepens ENA liquidity, bolsters Ethena’s ecosystem, and aligns shareholder value with the long‑term success of USDe, USDtb, and other upcoming Ethena products.”

    Following the business combination, StablecoinX will operate infrastructure and staking services, running validators and related technical services for the Ethena protocol. StablecoinX’s management is committed to maximizing ENA per share, directing excess capital and ecosystem earnings into strategic ENA accumulation so that each outstanding share steadily increases its backing over time.

    Key Terms of the Token Purchase Agreement and the Collaboration Agreement between StableXoinX and Ethena Foundation

    • SC Assets will direct the purchase of locked ENA tokens equal in value to its cash PIPE proceeds (less certain fees and expenses).
    • StablecoinX will retain the right to join future ENA token offerings by the Ethena Foundation (directly or via subsidiaries) after the closing of the Transactions on mutually agreed terms.
    • The Collaboration Agreement has a five‑year initial term with automatic one‑year renewals, aligning both parties on long‑term network development and advocacy.
    • Capital allocation decisions, including ENA purchases, treasury operations and equity issuances of StablecoinX, to require majority approval of a three‑member Investment Committee to be comprised of representatives of StablecoinX, the Ethena Foundation and an independent member.

    As part of the Collaboration Agreement, StablecoinX will adopt a long-term permanent capital treasury mandate dictating that every ENA token the Company acquires will be held permanently and unencumbered on its balance sheet, with no sale, lending, pledging or other disposition permitted without the Ethena Foundation’s approval.

    Transaction Overview

    • Shares, warrants and units of TLGY will continue to trade under the symbol “TLGYF”, “TLGWF” and “TLGUF”, respectively, until the closing of the proposed Transaction. Following the closing of the proposed Transaction, StablecoinX’s Class A shares and warrants are expected to trade on Nasdaq under the ticker symbol “USDE” and “USDEW”, respectively.
    • TLGY and SC Assets have entered into binding agreements for approximately $360 million in PIPE financing, of which approximately $260 million is being funded in cash and $100 million is being funded in discounted ENA. The cash proceeds from the PIPE will be used to purchase discounted locked ENA from the Ethena Foundation subsidiary in conjunction with the transaction announcement, which will be held in a custody account for the benefit of such investors through the closing of the Transaction. At the closing of the PIPE, investors will receive shares of StablecoinX Class A stock, which will be non-voting. In addition to the StablecoinX Class A shares, the Ethena Foundation will also receive shares of StablecoinX Class B stock, which will have 1 vote per share, resulting in the Ethena Foundation holding a majority of the voting power of StablecoinX after the closing. The shares to be issued to the PIPE investors will be valued at $10.00 per share and the number of which will fluctuate based on the price performance of ENA from announcement to closing.
    • The board of directors of SC Assets, the board of directors of TLGY, and a special committee of disinterested and independent directors of TLGY, have unanimously approved the proposed business combination.
    • The transactions are expected to close in Q4 2025, subject to shareholder approval, StablecoinX’s successful listing on the Nasdaq, and other customary closing conditions.

    For additional information regarding the transaction, see TLGY’s related Form 8-K, which will be filed promptly, and which can be obtained, without charge, at the Securities and Exchange Commission’s internet site (http://www.sec.gov).

    Conference Call

    TLGY will discuss its proposed business combination with StablecoinX with securities analysts in a call today, Monday, July 21, 2025, at 4:30 p.m. ET. A webcast of the meeting will be available in a listen-only mode to individual investors, media, and other interested parties on TLGY’s website at www.tlgyacquisition.com under the “Events” section.

    Advisors

    Perkins Coie LLP is acting as legal advisor to TLGY. Ropes & Gray LLP is acting as legal advisor to the Ethena Foundation. Edelman Legal Advisory PLLC is acting as legal advisor to SC Assets.

    About TLGY Acquisition Corporation

    TLGY Acquisition Corporation is a blank-check company sponsored by Carnegie Park Capital LLC, whose business purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. TLGY was formed to focus on growth companies through long-term, private equity-style value creation.
     
    About StablecoinX Assets Inc.

    StablecoinX is a newly-formed validator and infrastructure business expected to operate infrastructure and staking services, running validators and related technical services for the Ethena protocol. StablecoinX is expected to adopt a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token.

    About the Ethena Foundation

    The Ethena Foundation serves as an independent steward of the Ethena protocol – the network behind the USDe and USDtb digital dollars – with a focus on the protocol’s long-term success and integrity. The Ethena Foundation is responsible for the protocol’s governance framework, oversight of key protocol assets, and facilitating essential operations. The foundation’s commitment is to ensure the sustainable development and stability of the Ethena ecosystem for all its participants.

    Important Information and Where to Find It

    In connection with the Transaction, StablecoinX intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (the “Registration Statement”), which will include a preliminary proxy statement of TLGY and a preliminary prospectus of StablecoinX, and after the Registration Statement is declared effective, TLGY will mail the definitive proxy statement/prospectus relating to the Transaction to its shareholders as of the record date to be established for voting at the Extraordinary General Meeting. The Registration Statement, including the proxy statement/prospectus contained therein, will contain important information about the Transaction and the other matters to be voted upon at the Extraordinary General Meeting. This press release does not contain all the information that should be considered concerning the Transaction and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. TLGY and StablecoinX may also file other documents with the SEC regarding the Transaction. TLGY’s shareholders and other interested persons are advised to read, when available, the Registration Statement, including the preliminary proxy statement/prospectus contained therein, the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Transaction, as these materials will contain important information about TLGY, SC Assets, StablecoinX and the Transaction.

    TLGY’s shareholders and other interested persons will be able to obtain copies of the Registration Statement, including the preliminary proxy statement/prospectus contained therein, the definitive proxy statement/prospectus and other documents filed or that will be filed by TLGY and StablecoinX with the SEC, free of charge, through the website maintained by the SEC at www.sec.gov.

    Forward-Looking Statements

    This press release includes certain statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements with respect to the proposed Transaction include expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding SC Assets, StablecoinX, TLGY and the proposed Transaction, statements regarding the anticipated benefits and timing of the completion of the proposed Transaction, the assets held by SC Assets and StablecoinX, the price and volatility of ENA, ENA’s growing prominence as an issuer of digital dollars on-chain, StablecoinX’s listing on any securities exchange, the macro, political and regulatory conditions surrounding ENA, the planned business strategy including StablecoinX’s ability to develop a corporate architecture capable of supporting its treasury initiatives and strategic stake in the Ethena Protocol, plans and use of proceeds, objectives of management for future operations of StablecoinX, the upside potential and opportunity for investors, StablecoinX’s plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, technological and market trends, future financial condition and performance and expected financial impacts of the proposed Transaction, the satisfaction of closing conditions to the proposed Transaction and the level of redemptions of TLGY’s public shareholders, and StablecoinX’s expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. Forward-looking statements are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: the risk that the proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of TLGY’s securities; the risk that the proposed Transaction may not be completed by TLGY’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the proposed Transaction, including the approval of TLGY’s shareholders and the listing of StablecoinX’s securities on a national securities exchange at closing; failure to realize the anticipated benefits of the proposed Transaction; the level of redemptions by TLGY’s public shareholders, which may reduce the public float of, reduce the liquidity of the trading market of, and/or impact the ability of, the shares of Class A common stock of StablecoinX to be listed in connection with the proposed Transaction; the insufficiency of the third-party fairness opinion for the board of directors of TLGY in determining whether or not to pursue the proposed Transaction; the failure of StablecoinX to obtain or maintain the listing of its securities on any securities exchange after closing of the proposed Transaction; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Transaction timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA prices or for other reasons; costs related to the proposed Transaction and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to StablecoinX’s anticipated operations and business, including the volatile nature of the price of ENA; the risk that StablecoinX’s stock price will be highly correlated to the price of ENA and the price of ENA may decrease between the signing of the definitive documents for the proposed Transaction and the closing of the proposed Transaction or at any time after the closing of the proposed Transaction; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Transaction timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA prices or for other reasons; risks related to increased competition in the industries in which StablecoinX will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding ENA; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the proposed Transaction, StablecoinX experiences difficulties managing its growth and expanding operations; the risks that launching and growing StablecoinX’s ENA treasury advisory and services in digital marketing and strategy could be difficult; challenges in implementing StablecoinX’s business plan, due to operational challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which StablecoinX’s Class A Common Stock will be listed or by the SEC, which may impact StablecoinX’s ability to list its securities and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against StablecoinX, SC Assets, TLGY or others following announcement of the proposed Transaction, and those risk factors discussed in documents that StablecoinX and/or TLGY has filed, or will file, with the SEC. The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of The Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q that have been and/or will be filed by TLGY with the SEC from time to time, the Registration Statement that will be filed by StablecoinX and TLGY and the proxy statement/prospectus contained therein, and other documents that have been or will be filed by TLGY and StablecoinX from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither TLGY, SC Assets nor StablecoinX presently know or that TLGY, SC Assets and StablecoinX currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of TLGY, SC Assets, and StablecoinX assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither TLGY, SC Assets, nor StablecoinX gives any assurance that any of TLGY, SC Assets, or StablecoinX will achieve their respective expectations. The inclusion of any statement in this press release does not constitute an admission by TLGY, SC Assets or StablecoinX or any other person that the events or circumstances described in such statement are material.

    The terms of the proposed Transaction described in this press release, including any dollar-denominated figures or implied valuations, are based on information as of the date of the signing of the definitive Business Combination Agreement and assume no redemptions from the TLGY trust account. These terms are subject to change, including as a result of fluctuations in the price of ENA prior to closing of the proposed Transaction. There can be no assurance that the final terms at the closing of the Transaction will reflect the figures referenced herein.

    No Offer or Solicitation

    This press release does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Transaction or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase, any securities of TLGY, SC Assets, the combined company or any of their respective affiliates. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom, nor shall any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction be affected. No securities commission or securities regulatory authority in the United States or any other jurisdiction has in any way passed upon the merits of the Transaction or the accuracy or adequacy of this communication.

    Participants in the Solicitation

    TLGY, SC Assets, StablecoinX and their respective directors and officers may be deemed participants in the solicitation of proxies of TLGY’s shareholders in connection with the Transaction. More detailed information regarding the directors and officers of TLGY, and a description of their interests in TLGY, is contained in TLGY’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on March 5, 2025, and is available free of charge at the SEC’s website at www.sec.gov. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of TLGY’s shareholders in connection with the Transaction and other matters to be voted upon at the Extraordinary General Meeting will be set forth in the Registration Statement for the Transaction when available.

    Media Contacts

    StablecoinX
    press@stablecoinx.com

    TLGY Acquisition Corp.
    media@tlgycpc.com

    Ethena Foundation
    nate.johnson@augustco.com

    The MIL Network –

  • MIL-OSI: Foresight Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WINNEBAGO, Ill., July 21, 2025 (GLOBE NEWSWIRE) — Foresight Financial Group, Inc. (OTCQX: FGFH) reported net income of $2.99 million for the quarter ended June 30, 2025, an 8% decrease compared to the $3.27 million reported for the second quarter of 2024, and a 307% increase compared to the $734 thousand reported for the first quarter of 2025. Diluted Earnings per Share for the second quarter was $0.82 compared to $0.94 for the second quarter of 2024 and $0.20 for the quarter ended March 31, 2025. The second quarter of 2025 results include $1.56 million of charter consolidation expenses, which were partially offset by nonrecurring revenue of $1.20 million related to a debit card branding agreement. The second quarter results produced a Return on Average Equity of 7.60% and Return on Average Assets of 0.75%.

    Net income for the six months ended June 30, 2025 decreased 45% to $3.72 million compared to $6.77 million for the first half of 2024. The decrease in net income reflects a $1.33 million increase in provision for loan losses, a $1.96 million impairment charge related to other investments and $1.88 million of charter consolidation expenses. Diluted Earnings per share for the first six months of 2025 was $1.03 compared to $1.94 for the half of 2024.

    Foresight CEO Peter Q. Morrison stated, “The legal consolidation of our Company’s six banking charters occurred on May 1, 2025, and the conversions of operating systems to a single platform is on track to be completed in the third and fourth quarters of this year. The charter consolidation is expected to provide significant savings via the elimination of duplicative expenses and efficiencies gained by operating under one banking platform. These efficiencies combined with more consistent credit administration practices gained through the charter consolidation will improve credit quality, earnings, and shareholder value.”  

    Net interest income for the second quarter of 2025 increased by $588 thousand, or 5%, to $12.95 million as compared to $12.36 million for the second quarter of 2024; and increased by $685 thousand, or 6%, compared to the quarter ended March 31, 2025. The net interest margin on a fully taxable equivalent basis increased to 3.40% compared to 3.24% in the second quarter of 2024; and 3.25% for the quarter ended March 31, 2025.

    Net interest income for the six months ended June 30, 2025, increased $740 thousand, or 3%, to $25.21 million compared to $24.47 million in the first six months of 2024. The net interest margin on a fully taxable equivalent basis was 3.29% for the first six months of 2025.

    Total loans increased by $29.27 million during the quarter to $1.13 billion as of June 30, 2025 compared to $1.10 billion as of March 31, 2025; and increased $8.3 million as compared to total loans as of June 30, 2024. Total deposits decreased by $8.8 million during the second quarter to $1.38 billion as of June 30, 2025; and increased by $11.5 million as compared to total deposits as of June 30, 2024.

    The provision for loan losses for the quarter ended June 30, 2025 increased by $100 thousand to $238 thousand as compared to $138 thousand in the second quarter of the prior year; and decreased by $1.06 million compared to the first quarter of 2025. During the second quarter of 2025 loan net charge-offs totaled $2.93 million. The provision for loan losses for the six months ended June 30, 2025 was $1.54 million, a $1.33 million increase over the provision expense for the first half of 2024.

    Total non-performing assets of the Company as of June 30, 2025 were $28.29 million compared to $29.71 million the previous quarter, and $21.40 million as of June 30, 2024. The ratio of non-performing assets to total assets equaled 1.76% as of June 30, 2025 compared to 1.83% as of March 31, 2025 and 1.34% as of June 30, 2024.

    Noninterest income for the quarter ended June 30, 2025 increased $1.35 million to $3.0 million compared to $1.66 million in the second quarter of the prior year. The increase is primarily attributable to $1.2 million of non-recurring revenue received under a debit card branding agreement.

    Noninterest income for the six months ended June 30, 2025 increased by $1.61 million to $4.95 million compared to $3.33 million the first half of 2024. This increase includes the $1.2 million non-recurring revenue received under the debit card branding agreement.

    Noninterest expenses for the quarter ended June 30, 2025 totaled $11.95 million, a $2.31 million increase over $9.64 million in the second quarter of 2024; and a $234 thousand decrease from the quarter ended March 31, 2025. The increase in operating expenses over the second quarter of 2024 includes $1.56 million in charter consolidation expenses, including $57 thousand in salary and benefits, $143 thousand in outside services and $1.36 million in other expenses, which is primarily related to data system conversions.

    Noninterest expense for the six months ended June 30, 2025 increased by $5.34 million to $24.13 million compared to $18.79 million the first half of 2024. This increase in noninterest expense includes $1.88 million in charter consolidation expenses and a $1.96 million impairment charge related to a nonmarketable equity investment.

    The closing price for the Company’s stock was $31.50, as of the close of business April 16, 2025. Tangible book value per share of the Company’s common stock increased by $1.78 and $2.82 to $44.37 as of June 30, 2025, compared to $42.59 and $41.55 as of December 31, 2024 and June 30, 2024, respectively. The tangible book value per share of the Company’s common stock, excluding Accumulated Other Comprehensive Income was $52.43 as of June 30, 2025, compared to $51.79 at the end of 2024 and $51.36 as of June 30, 2024.

    About Foresight Financial Group, Inc.

    Foresight Financial Group, Inc. is a bank holding company headquartered in Winnebago County, Illinois and is the parent company of Foresight Bank, which operates in Northern Illinois under its divisional names Northwest Bank of Rockford, State Bank in Freeport, State Bank of Davis, German American State Bank in German Valley, Winnebago and Pecatonica, Lena State Bank, and the State Bank of Herscher. Foresight’s common stock is listed on the “OTCQX” market under the trading symbol FGFH.

    Forward-Looking Statements

    When used in this communication, the words “believes,” “expects,” “likely”, “would”, and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company’s markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of “critical accounting policies”; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

    Peter Morrison  Todd James
    Chief Executive Officer Chief Financial Officer
    (815) 847-7500 (815) 847-7500
           
    Foresight Financial Group, Inc. and Subsidiaries
    Consolidated Balance Sheets
    June 30, 2025 and December 31, 2024
    (Unaudited)      
      June 30,   December 31,
    Assets   2025       2024  
      (in thousands, except per share data)
    Cash and due from banks $ 28,002     $ 16,905  
    Interest-bearing deposits in banks   13,025       45,357  
    Federal funds sold   787       1,738  
    Total cash and cash equivalents   41,814       64,000  
           
    Interest-bearing deposits in banks – term deposits   2,259       4,434  
    Debt securities:      
    Debt securities available-for-sale (AFS)   361,146       369,945  
    Debt securities held-to-maturity (HTM)   3,263       3,263  
    Marketable equity securities and other investments   5,446       7,592  
    Loans held for sale   480       852  
    Loans, net of allowance for credit losses   1,116,498       1,100,657  
    Foreclosed assets and other real estate owned, net   703       –  
    Premises and equipment, net   16,889       17,125  
    Bank owned life insurance   24,646       24,459  
    Other assets   37,870       40,892  
    Total assets $ 1,611,014     $ 1,633,219  
           
    Liabilities and Stockholders’ Equity      
           
    Liabilities:      
    Deposits:      
    Noninterest-bearing $ 247,002     $ 249,076  
    Interest-bearing   1,136,961       1,151,627  
    Total deposits   1,383,963       1,400,703  
    Federal funds purchased   –       5,804  
    Securities sold under agreements to repurchase   12,466       15,017  
    Federal Home Loan Bank (FHLB) and other borrowings   39,889       40,911  
    Accrued interest payable and other liabilities   14,737       17,386  
    Total liabilities   1,451,055       1,479,821  
           
    Stockholders’ equity:      
    Preferred stock   –       –  
    Common stock   1,062       1,060  
    Additional paid-in capital   16,704       16,482  
    Retained earnings   187,237       184,961  
    Treasury stock, at cost   (16,013 )     (16,008 )
    Accumulated other comprehensive loss   (29,031 )     (33,097 )
    Total stockholders’ equity   159,959       153,398  
    Total liabilities and stockholders’ equity $ 1,611,014     $ 1,633,219  
           
    Foresight Financial Group, Inc. and Subsidiaries   
    Consolidated Statements of Income   
    (Unaudited)      
           
      Six Months Ended June 30,
        2025       2024  
      (in thousands, except per share data)
    Interest and dividend income:      
    Loans, including fees $ 34,657     $ 34,092  
    Debt securities:      
    Taxable   4,059       3,578  
    Tax-exempt   802       831  
    Interest-bearing deposits in banks and other   933       1,099  
    Federal funds sold   8       69  
    Total interest income   40,459       39,669  
    Interest expense:      
    Deposits   14,464       14,329  
    Federal funds purchased   2       28  
    Securities sold under agreements to repurchase   111       218  
    FHLB and other borrowings   669       621  
    Total interest expense   15,246       15,196  
    Net interest income   25,213       24,473  
    Provision for credit losses   1,536       202  
    Net interest and dividend income,      
    after provision for credit losses   23,677       24,271  
           
    Noninterest income:      
    Customer service fees   893       684  
    Loss on sales and calls of AFS securities, net   0       -111  
    Gain on sale of loans, net   163       287  
    Loan servicing fees, net   535       155  
    Bank owned life insurance   334       379  
    ATM / interchange fees   1,049       1,057  
    Other   1,971       882  
    Total noninterest income   4,945       3,333  
           
    Noninterest expenses:      
    Salaries and employee benefits   12,610       11,985  
    Occupancy expense of premises, net   1,398       1,225  
    Outside services   1,088       765  
    Data processing   1,936       1,432  
    Foreclosed assets and other real estate owned, net   0       6  
    Other   7,096       3,372  
    Total noninterest expenses   24,128       18,785  
           
    Income before income taxes   4,494       8,819  
    Income tax expense   772       2,045  
           
    Net income $ 3,722     $ 6,774  
           
    Earnings per common share:      
    Basic $ 1.03     $ 1.95  
    Diluted $ 1.03     $ 1.94  
    Foresight Financial Group, Inc. and Subsidiaries
    Consolidated Condensed Statements of Income
    (Unaudited)                  
                       
      For the Quarter Ended
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
    Interest and dividend income:                  
    Loans, including fees $ 17,739     $ 16,918     $ 17,249     $ 17,943     $ 17,394  
    Interest on investment securities   2,394       2,467       2,269       2,183       2,236  
    Interest on fed funds sold and other deposits   285       656       818       573       625  
    Total interest income   20,418       20,041       20,336       20,699       20,255  
    Interest expense:                  
    Deposits   7,099       7,365       7,641       7,885       7,448  
    Federal funds purchased   –       5       7       29       8  
    Securities sold under agreements to repurchase   39       72       132       134       103  
    FHLB and other borrowings   331       335       328       365       335  
    Total interest expense   7,469       7,777       8,108       8,413       7,894  
    Net interest income   12,949       12,264       12,228       12,286       12,361  
    Provision for credit losses   238       1,298       665       185       138  
    Net interest income after provision for loan losses   12,711       10,966       11,563       12,101       12,223  
                       
    Noninterest income:                  
    Customer service fees   551       342       371       366       342  
    Net securities gains (losses)   –       –       –       –       –  
    Gain on sale of loans, net   26       137       182       303       183  
    Loan servicing fees, net   226       309       192       (98 )     86  
    Bank owned life insurance   177       157       160       571       163  
    ATM / debit card revenue   555       494       539       547       550  
    Other   1,468       503       429       298       334  
    Total noninterest income   3,003       1,942       1,873       1,987       1,658  
                       
    Noninterest expenses:                  
    Salaries and employee benefits   6,408       6,202       6,383       6,302       6,230  
    Occupancy expense of premises, net   796       602       587       592       587  
    Outside services   422       666       435       411       391  
    Data processing   1,205       731       968       788       716  
    Foreclosed assets and other real estate owned, net   –       –       –       6       6  
    Other   3,116       3,980       1,878       1,759       1,709  
    Total noninterest expenses   11,947       12,181       10,251       9,858       9,639  
    Income before income taxes   3,767       727       3,185       4,230       4,240  
    Income tax expense   779       (7 )     692       833       975  
    Net income $ 2,988     $ 734     $ 2,493     $ 3,397     $ 3,265  
                       
    Foresight Financial Group, Inc. and Subsidiaries         
    Consolidated Balance Sheets         
    (Unaudited)                  
      As of
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
    Assets                  
    Cash and due from banks $ 28,002     $ 19,996     $ 16,905     $ 30,162     $ 21,290  
    Interest-bearing deposits in banks   13,025       46,118       45,357       20,040       11,196  
    Federal funds sold   787       452       1,738       2,183       3,433  
    Total cash and cash equivalents   41,814       66,566       64,000       52,385       35,919  
                       
    Interest-bearing deposits in banks – term deposits   2,259       2,466       4,434       5,169       4,983  
    Debt securities:                  
    Debt securities available-for-sale (AFS)   361,146       380,667       369,945       368,386       359,762  
    Debt securities held-to-maturity (HTM)   3,263       3,263       3,263       3,616       3,609  
    Marketable equity securities and other investments   5,446       5,671       7,592       6,738       6,215  
    Loans held for sale   480       573       852       794       480  
    Loans, net of allowance for credit losses   1,116,498       1,084,761       1,100,657       1,102,342       1,107,199  
    Foreclosed assets and other real estate owned, net   703       –       –       –       68  
    Premises and equipment, net   16,889       16,978       17,125       17,125       17,234  
    Bank owned life insurance   24,646       24,615       24,459       24,300       24,653  
    Other assets   37,870       40,519       40,892       39,350       39,550  
    Total assets $ 1,611,014     $ 1,626,079     $ 1,633,219     $ 1,620,205     $ 1,599,672  
                       
    Liabilities and Stockholders’ Equity                  
    Liabilities:                  
    Deposits:                  
    Noninterest-bearing $ 247,002     $ 250,709     $ 249,076     $ 237,685     $ 244,414  
    Interest-bearing   1,136,961       1,142,009       1,151,627       1,138,578       1,128,081  
    Total deposits   1,383,963       1,392,718       1,400,703       1,376,263       1,372,495  
    Federal funds purchased   –       55       5,804       4,764       6,053  
    Securities sold under agreements to repurchase   12,466       21,095       15,017       23,381       21,930  
    Federal Home Loan Bank (FHLB) and other borrowings   39,889       37,810       40,911       39,174       39,293  
    Accrued interest payable and other liabilities   14,737       16,670       17,386       16,970       16,674  
    Total liabilities   1,451,055       1,468,348       1,479,821       1,460,552       1,456,445  
    Stockholders’ equity:                  
    Preferred stock   –       –       –       –       –  
    Common stock   1,062       1,060       1,060       1,060       1,022  
    Additional paid-in capital   16,704       16,482       16,482       16,445       11,660  
    Retained earnings   187,237       184,972       184,961       183,118       180,346  
    Treasury stock, at cost   (16,013 )     (16,008 )     (16,008 )     (16,008 )     (16,008 )
    Accumulated other comprehensive loss   (29,031 )     (28,775 )     (33,097 )     (24,963 )     (33,793 )
    Total stockholders’ equity   159,959       157,731       153,398       159,653       143,227  
    Total liabilities and stockholders’ equity $ 1,611,014     $ 1,626,079     $ 1,633,219     $ 1,620,205     $ 1,599,672  
                       
    KEY FINANCIAL RATIOS         
    (Unaudited)                  
      As of and for the Quarter Ended
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
                       
    Basic earnings per common share $ 0.83     $ 0.20     $ 0.69     $ 0.97     $ 0.95  
    Diluted earnings per common share   0.82       0.20       0.69       0.97       0.94  
    Dividends per common share       0.20       0.18       0.18       0.18  
                       
    Book value per common share   44.41       43.84       42.63       44.38       41.59  
    Tangible book value per common share   44.37       43.80       42.59       44.34       41.55  
    Tangible book value, excluding AOCI, per share   52.43       51.80       51.79       51.28       51.36  
    End of period shares outstanding   3,606,087       3,598,042       3,598,042       3,597,418       3,443,937  
    Average number of shares outstanding   3,606,137       3,598,042       3,597,478       3,494,270       3,450,527  
                       
    Return on average assets   0.75%       0.21%       0.58%       0.82%       0.82%  
    Return on average equity   7.60%       2.18%       6.08%       8.83%       9.40%  
    Net interest margin, tax equivalent   3.40%       3.25%       3.14%       3.21%       3.24%  
    Efficiency ratio, tax equivalent   73.61%       83.72%       72.58       68.97       68.13  
    ASSET QUALITY DATA         
    (Unaudited) As of
    (Amounts in thousands) June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
                       
    Nonaccrual Loans   25,939       28,564       28,175       23,653       21,366  
    Accruing loans past due 90 days or more   688       185       230       680       32  
    Total non-performing loans   26,627       28,749       28,405       24,333       21,398  
    Other real estate owned and other assets   703       6       13       7       –  
    Impaired other investments   961       961       –       –       –  
    Total non-performing Assets   28,291       29,716       28,418       24,340       21,398  
                       
    Total Loans   1,130,124       1,100,853       1,115,351       1,117,022       1,121,742  
    Allowance for credit losses   13,626       16,092       14,694       14,678       14,543  
    Loans, net of allowance for credit losses   1,116,498       1,084,761       1,100,657       1,102,344       1,107,199  
                       
    Nonperforming assets tototal assets   1.76%       1.83%       1.74%       1.50%       1.34%  
    Nonperforming loans to total loans   2.36%       2.61%       2.55%       2.18%       1.91%  
    Allowance for credit losses to total loans   1.21%       1.46%       1.32%       1.31%       1.30%  
    Allowance for credit losses to noperforming loans   51.17%       55.97%       51.73%       60.32%       67.96%  
                       

    The MIL Network –

  • MIL-OSI: Foresight Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WINNEBAGO, Ill., July 21, 2025 (GLOBE NEWSWIRE) — Foresight Financial Group, Inc. (OTCQX: FGFH) reported net income of $2.99 million for the quarter ended June 30, 2025, an 8% decrease compared to the $3.27 million reported for the second quarter of 2024, and a 307% increase compared to the $734 thousand reported for the first quarter of 2025. Diluted Earnings per Share for the second quarter was $0.82 compared to $0.94 for the second quarter of 2024 and $0.20 for the quarter ended March 31, 2025. The second quarter of 2025 results include $1.56 million of charter consolidation expenses, which were partially offset by nonrecurring revenue of $1.20 million related to a debit card branding agreement. The second quarter results produced a Return on Average Equity of 7.60% and Return on Average Assets of 0.75%.

    Net income for the six months ended June 30, 2025 decreased 45% to $3.72 million compared to $6.77 million for the first half of 2024. The decrease in net income reflects a $1.33 million increase in provision for loan losses, a $1.96 million impairment charge related to other investments and $1.88 million of charter consolidation expenses. Diluted Earnings per share for the first six months of 2025 was $1.03 compared to $1.94 for the half of 2024.

    Foresight CEO Peter Q. Morrison stated, “The legal consolidation of our Company’s six banking charters occurred on May 1, 2025, and the conversions of operating systems to a single platform is on track to be completed in the third and fourth quarters of this year. The charter consolidation is expected to provide significant savings via the elimination of duplicative expenses and efficiencies gained by operating under one banking platform. These efficiencies combined with more consistent credit administration practices gained through the charter consolidation will improve credit quality, earnings, and shareholder value.”  

    Net interest income for the second quarter of 2025 increased by $588 thousand, or 5%, to $12.95 million as compared to $12.36 million for the second quarter of 2024; and increased by $685 thousand, or 6%, compared to the quarter ended March 31, 2025. The net interest margin on a fully taxable equivalent basis increased to 3.40% compared to 3.24% in the second quarter of 2024; and 3.25% for the quarter ended March 31, 2025.

    Net interest income for the six months ended June 30, 2025, increased $740 thousand, or 3%, to $25.21 million compared to $24.47 million in the first six months of 2024. The net interest margin on a fully taxable equivalent basis was 3.29% for the first six months of 2025.

    Total loans increased by $29.27 million during the quarter to $1.13 billion as of June 30, 2025 compared to $1.10 billion as of March 31, 2025; and increased $8.3 million as compared to total loans as of June 30, 2024. Total deposits decreased by $8.8 million during the second quarter to $1.38 billion as of June 30, 2025; and increased by $11.5 million as compared to total deposits as of June 30, 2024.

    The provision for loan losses for the quarter ended June 30, 2025 increased by $100 thousand to $238 thousand as compared to $138 thousand in the second quarter of the prior year; and decreased by $1.06 million compared to the first quarter of 2025. During the second quarter of 2025 loan net charge-offs totaled $2.93 million. The provision for loan losses for the six months ended June 30, 2025 was $1.54 million, a $1.33 million increase over the provision expense for the first half of 2024.

    Total non-performing assets of the Company as of June 30, 2025 were $28.29 million compared to $29.71 million the previous quarter, and $21.40 million as of June 30, 2024. The ratio of non-performing assets to total assets equaled 1.76% as of June 30, 2025 compared to 1.83% as of March 31, 2025 and 1.34% as of June 30, 2024.

    Noninterest income for the quarter ended June 30, 2025 increased $1.35 million to $3.0 million compared to $1.66 million in the second quarter of the prior year. The increase is primarily attributable to $1.2 million of non-recurring revenue received under a debit card branding agreement.

    Noninterest income for the six months ended June 30, 2025 increased by $1.61 million to $4.95 million compared to $3.33 million the first half of 2024. This increase includes the $1.2 million non-recurring revenue received under the debit card branding agreement.

    Noninterest expenses for the quarter ended June 30, 2025 totaled $11.95 million, a $2.31 million increase over $9.64 million in the second quarter of 2024; and a $234 thousand decrease from the quarter ended March 31, 2025. The increase in operating expenses over the second quarter of 2024 includes $1.56 million in charter consolidation expenses, including $57 thousand in salary and benefits, $143 thousand in outside services and $1.36 million in other expenses, which is primarily related to data system conversions.

    Noninterest expense for the six months ended June 30, 2025 increased by $5.34 million to $24.13 million compared to $18.79 million the first half of 2024. This increase in noninterest expense includes $1.88 million in charter consolidation expenses and a $1.96 million impairment charge related to a nonmarketable equity investment.

    The closing price for the Company’s stock was $31.50, as of the close of business April 16, 2025. Tangible book value per share of the Company’s common stock increased by $1.78 and $2.82 to $44.37 as of June 30, 2025, compared to $42.59 and $41.55 as of December 31, 2024 and June 30, 2024, respectively. The tangible book value per share of the Company’s common stock, excluding Accumulated Other Comprehensive Income was $52.43 as of June 30, 2025, compared to $51.79 at the end of 2024 and $51.36 as of June 30, 2024.

    About Foresight Financial Group, Inc.

    Foresight Financial Group, Inc. is a bank holding company headquartered in Winnebago County, Illinois and is the parent company of Foresight Bank, which operates in Northern Illinois under its divisional names Northwest Bank of Rockford, State Bank in Freeport, State Bank of Davis, German American State Bank in German Valley, Winnebago and Pecatonica, Lena State Bank, and the State Bank of Herscher. Foresight’s common stock is listed on the “OTCQX” market under the trading symbol FGFH.

    Forward-Looking Statements

    When used in this communication, the words “believes,” “expects,” “likely”, “would”, and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company’s markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of “critical accounting policies”; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

    Peter Morrison  Todd James
    Chief Executive Officer Chief Financial Officer
    (815) 847-7500 (815) 847-7500
           
    Foresight Financial Group, Inc. and Subsidiaries
    Consolidated Balance Sheets
    June 30, 2025 and December 31, 2024
    (Unaudited)      
      June 30,   December 31,
    Assets   2025       2024  
      (in thousands, except per share data)
    Cash and due from banks $ 28,002     $ 16,905  
    Interest-bearing deposits in banks   13,025       45,357  
    Federal funds sold   787       1,738  
    Total cash and cash equivalents   41,814       64,000  
           
    Interest-bearing deposits in banks – term deposits   2,259       4,434  
    Debt securities:      
    Debt securities available-for-sale (AFS)   361,146       369,945  
    Debt securities held-to-maturity (HTM)   3,263       3,263  
    Marketable equity securities and other investments   5,446       7,592  
    Loans held for sale   480       852  
    Loans, net of allowance for credit losses   1,116,498       1,100,657  
    Foreclosed assets and other real estate owned, net   703       –  
    Premises and equipment, net   16,889       17,125  
    Bank owned life insurance   24,646       24,459  
    Other assets   37,870       40,892  
    Total assets $ 1,611,014     $ 1,633,219  
           
    Liabilities and Stockholders’ Equity      
           
    Liabilities:      
    Deposits:      
    Noninterest-bearing $ 247,002     $ 249,076  
    Interest-bearing   1,136,961       1,151,627  
    Total deposits   1,383,963       1,400,703  
    Federal funds purchased   –       5,804  
    Securities sold under agreements to repurchase   12,466       15,017  
    Federal Home Loan Bank (FHLB) and other borrowings   39,889       40,911  
    Accrued interest payable and other liabilities   14,737       17,386  
    Total liabilities   1,451,055       1,479,821  
           
    Stockholders’ equity:      
    Preferred stock   –       –  
    Common stock   1,062       1,060  
    Additional paid-in capital   16,704       16,482  
    Retained earnings   187,237       184,961  
    Treasury stock, at cost   (16,013 )     (16,008 )
    Accumulated other comprehensive loss   (29,031 )     (33,097 )
    Total stockholders’ equity   159,959       153,398  
    Total liabilities and stockholders’ equity $ 1,611,014     $ 1,633,219  
           
    Foresight Financial Group, Inc. and Subsidiaries   
    Consolidated Statements of Income   
    (Unaudited)      
           
      Six Months Ended June 30,
        2025       2024  
      (in thousands, except per share data)
    Interest and dividend income:      
    Loans, including fees $ 34,657     $ 34,092  
    Debt securities:      
    Taxable   4,059       3,578  
    Tax-exempt   802       831  
    Interest-bearing deposits in banks and other   933       1,099  
    Federal funds sold   8       69  
    Total interest income   40,459       39,669  
    Interest expense:      
    Deposits   14,464       14,329  
    Federal funds purchased   2       28  
    Securities sold under agreements to repurchase   111       218  
    FHLB and other borrowings   669       621  
    Total interest expense   15,246       15,196  
    Net interest income   25,213       24,473  
    Provision for credit losses   1,536       202  
    Net interest and dividend income,      
    after provision for credit losses   23,677       24,271  
           
    Noninterest income:      
    Customer service fees   893       684  
    Loss on sales and calls of AFS securities, net   0       -111  
    Gain on sale of loans, net   163       287  
    Loan servicing fees, net   535       155  
    Bank owned life insurance   334       379  
    ATM / interchange fees   1,049       1,057  
    Other   1,971       882  
    Total noninterest income   4,945       3,333  
           
    Noninterest expenses:      
    Salaries and employee benefits   12,610       11,985  
    Occupancy expense of premises, net   1,398       1,225  
    Outside services   1,088       765  
    Data processing   1,936       1,432  
    Foreclosed assets and other real estate owned, net   0       6  
    Other   7,096       3,372  
    Total noninterest expenses   24,128       18,785  
           
    Income before income taxes   4,494       8,819  
    Income tax expense   772       2,045  
           
    Net income $ 3,722     $ 6,774  
           
    Earnings per common share:      
    Basic $ 1.03     $ 1.95  
    Diluted $ 1.03     $ 1.94  
    Foresight Financial Group, Inc. and Subsidiaries
    Consolidated Condensed Statements of Income
    (Unaudited)                  
                       
      For the Quarter Ended
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
    Interest and dividend income:                  
    Loans, including fees $ 17,739     $ 16,918     $ 17,249     $ 17,943     $ 17,394  
    Interest on investment securities   2,394       2,467       2,269       2,183       2,236  
    Interest on fed funds sold and other deposits   285       656       818       573       625  
    Total interest income   20,418       20,041       20,336       20,699       20,255  
    Interest expense:                  
    Deposits   7,099       7,365       7,641       7,885       7,448  
    Federal funds purchased   –       5       7       29       8  
    Securities sold under agreements to repurchase   39       72       132       134       103  
    FHLB and other borrowings   331       335       328       365       335  
    Total interest expense   7,469       7,777       8,108       8,413       7,894  
    Net interest income   12,949       12,264       12,228       12,286       12,361  
    Provision for credit losses   238       1,298       665       185       138  
    Net interest income after provision for loan losses   12,711       10,966       11,563       12,101       12,223  
                       
    Noninterest income:                  
    Customer service fees   551       342       371       366       342  
    Net securities gains (losses)   –       –       –       –       –  
    Gain on sale of loans, net   26       137       182       303       183  
    Loan servicing fees, net   226       309       192       (98 )     86  
    Bank owned life insurance   177       157       160       571       163  
    ATM / debit card revenue   555       494       539       547       550  
    Other   1,468       503       429       298       334  
    Total noninterest income   3,003       1,942       1,873       1,987       1,658  
                       
    Noninterest expenses:                  
    Salaries and employee benefits   6,408       6,202       6,383       6,302       6,230  
    Occupancy expense of premises, net   796       602       587       592       587  
    Outside services   422       666       435       411       391  
    Data processing   1,205       731       968       788       716  
    Foreclosed assets and other real estate owned, net   –       –       –       6       6  
    Other   3,116       3,980       1,878       1,759       1,709  
    Total noninterest expenses   11,947       12,181       10,251       9,858       9,639  
    Income before income taxes   3,767       727       3,185       4,230       4,240  
    Income tax expense   779       (7 )     692       833       975  
    Net income $ 2,988     $ 734     $ 2,493     $ 3,397     $ 3,265  
                       
    Foresight Financial Group, Inc. and Subsidiaries         
    Consolidated Balance Sheets         
    (Unaudited)                  
      As of
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
    Assets                  
    Cash and due from banks $ 28,002     $ 19,996     $ 16,905     $ 30,162     $ 21,290  
    Interest-bearing deposits in banks   13,025       46,118       45,357       20,040       11,196  
    Federal funds sold   787       452       1,738       2,183       3,433  
    Total cash and cash equivalents   41,814       66,566       64,000       52,385       35,919  
                       
    Interest-bearing deposits in banks – term deposits   2,259       2,466       4,434       5,169       4,983  
    Debt securities:                  
    Debt securities available-for-sale (AFS)   361,146       380,667       369,945       368,386       359,762  
    Debt securities held-to-maturity (HTM)   3,263       3,263       3,263       3,616       3,609  
    Marketable equity securities and other investments   5,446       5,671       7,592       6,738       6,215  
    Loans held for sale   480       573       852       794       480  
    Loans, net of allowance for credit losses   1,116,498       1,084,761       1,100,657       1,102,342       1,107,199  
    Foreclosed assets and other real estate owned, net   703       –       –       –       68  
    Premises and equipment, net   16,889       16,978       17,125       17,125       17,234  
    Bank owned life insurance   24,646       24,615       24,459       24,300       24,653  
    Other assets   37,870       40,519       40,892       39,350       39,550  
    Total assets $ 1,611,014     $ 1,626,079     $ 1,633,219     $ 1,620,205     $ 1,599,672  
                       
    Liabilities and Stockholders’ Equity                  
    Liabilities:                  
    Deposits:                  
    Noninterest-bearing $ 247,002     $ 250,709     $ 249,076     $ 237,685     $ 244,414  
    Interest-bearing   1,136,961       1,142,009       1,151,627       1,138,578       1,128,081  
    Total deposits   1,383,963       1,392,718       1,400,703       1,376,263       1,372,495  
    Federal funds purchased   –       55       5,804       4,764       6,053  
    Securities sold under agreements to repurchase   12,466       21,095       15,017       23,381       21,930  
    Federal Home Loan Bank (FHLB) and other borrowings   39,889       37,810       40,911       39,174       39,293  
    Accrued interest payable and other liabilities   14,737       16,670       17,386       16,970       16,674  
    Total liabilities   1,451,055       1,468,348       1,479,821       1,460,552       1,456,445  
    Stockholders’ equity:                  
    Preferred stock   –       –       –       –       –  
    Common stock   1,062       1,060       1,060       1,060       1,022  
    Additional paid-in capital   16,704       16,482       16,482       16,445       11,660  
    Retained earnings   187,237       184,972       184,961       183,118       180,346  
    Treasury stock, at cost   (16,013 )     (16,008 )     (16,008 )     (16,008 )     (16,008 )
    Accumulated other comprehensive loss   (29,031 )     (28,775 )     (33,097 )     (24,963 )     (33,793 )
    Total stockholders’ equity   159,959       157,731       153,398       159,653       143,227  
    Total liabilities and stockholders’ equity $ 1,611,014     $ 1,626,079     $ 1,633,219     $ 1,620,205     $ 1,599,672  
                       
    KEY FINANCIAL RATIOS         
    (Unaudited)                  
      As of and for the Quarter Ended
      June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
                       
    Basic earnings per common share $ 0.83     $ 0.20     $ 0.69     $ 0.97     $ 0.95  
    Diluted earnings per common share   0.82       0.20       0.69       0.97       0.94  
    Dividends per common share       0.20       0.18       0.18       0.18  
                       
    Book value per common share   44.41       43.84       42.63       44.38       41.59  
    Tangible book value per common share   44.37       43.80       42.59       44.34       41.55  
    Tangible book value, excluding AOCI, per share   52.43       51.80       51.79       51.28       51.36  
    End of period shares outstanding   3,606,087       3,598,042       3,598,042       3,597,418       3,443,937  
    Average number of shares outstanding   3,606,137       3,598,042       3,597,478       3,494,270       3,450,527  
                       
    Return on average assets   0.75%       0.21%       0.58%       0.82%       0.82%  
    Return on average equity   7.60%       2.18%       6.08%       8.83%       9.40%  
    Net interest margin, tax equivalent   3.40%       3.25%       3.14%       3.21%       3.24%  
    Efficiency ratio, tax equivalent   73.61%       83.72%       72.58       68.97       68.13  
    ASSET QUALITY DATA         
    (Unaudited) As of
    (Amounts in thousands) June 30,   March 31,   December 31,   September 30,   June 30,
        2025       2025       2024       2024       2024  
                       
    Nonaccrual Loans   25,939       28,564       28,175       23,653       21,366  
    Accruing loans past due 90 days or more   688       185       230       680       32  
    Total non-performing loans   26,627       28,749       28,405       24,333       21,398  
    Other real estate owned and other assets   703       6       13       7       –  
    Impaired other investments   961       961       –       –       –  
    Total non-performing Assets   28,291       29,716       28,418       24,340       21,398  
                       
    Total Loans   1,130,124       1,100,853       1,115,351       1,117,022       1,121,742  
    Allowance for credit losses   13,626       16,092       14,694       14,678       14,543  
    Loans, net of allowance for credit losses   1,116,498       1,084,761       1,100,657       1,102,344       1,107,199  
                       
    Nonperforming assets tototal assets   1.76%       1.83%       1.74%       1.50%       1.34%  
    Nonperforming loans to total loans   2.36%       2.61%       2.55%       2.18%       1.91%  
    Allowance for credit losses to total loans   1.21%       1.46%       1.32%       1.31%       1.30%  
    Allowance for credit losses to noperforming loans   51.17%       55.97%       51.73%       60.32%       67.96%  
                       

    The MIL Network –

  • MIL-OSI: AIXA Miner Launches XRP-Based Daily Income Model through One-Click BTC Cloud Mining Access

    Source: GlobeNewswire (MIL-OSI)

    Denver, Colorado, July 21, 2025 (GLOBE NEWSWIRE) — AIXA Miner, a next-generation cloud mining platform, has announced a strategic upgrade that enables XRP holders to generate daily income by participating in Bitcoin (BTC) cloud mining, with zero need for hardware, technical setup, or manual execution. This innovation is built upon the company’s high-performance computing infrastructure, automated reward engine, and fully compliant operational model.

    The new feature allows users to recharge their XRP directly into the AIXA Miner platform, select a cloud mining contract, and activate it with a single click. Earnings are calculated and distributed automatically via smart contract, providing a frictionless, secure, and transparent income stream that settles in real time.

    “Our vision has always been to remove complexity from the mining process while expanding access to sustainable crypto income,” said a spokesperson from AIXA Miner’s Engineering and Innovation Division. “This XRP-to-BTC model represents a major step in that direction—offering ease of use, consistent rewards, and global scalability.”

    The platform’s “remote start, real-time settlement” system bridges the gap between utility tokens and traditional mining assets, unlocking new value for XRP holders who may not have previously engaged in mining due to technical or financial barriers. AIXA Miner’s automated backend handles all aspects of the mining lifecycle: resource allocation, reward calculation, transaction processing, and energy load balancing.

    At the heart of this offering is a scalable AI-driven infrastructure designed to maximize mining output while minimizing downtime and operational waste. Users can begin participating by simply selecting their XRP deposit amount and preferred contract duration. Once activated, the smart contract immediately begins routing power toward BTC mining, and users receive daily payouts without further input.

    The ability to leverage XRP for BTC mining is particularly relevant in today’s dynamic crypto landscape. XRP’s fast transaction speed and low fees make it an ideal vehicle for initiating on-chain actions, while BTC continues to serve as the leading proof-of-work asset with consistent block rewards and market stability.

    This convergence is managed entirely through AIXA Miner’s platform, which serves as an intelligent orchestration layer. All contracts are executed under a compliant framework, with built-in safeguards for reward delivery, user data protection, and asset traceability. The company operates under strict protocols for transparency, offering users real-time access to performance metrics and income histories via its dashboard.

    AIXA Miner’s global data centers are powered primarily by clean energy sources, including hydroelectric, solar, and wind. These facilities—located strategically in the U.S., Southeast Asia, and South America—form the backbone of the company’s sustainable cloud mining architecture. As the energy demands of BTC mining continue to rise, AIXA Miner’s use of renewable resources ensures that scalability does not come at the expense of environmental integrity.

    In line with the platform’s commitment to green blockchain innovation, users participating in XRP-initiated contracts will also have access to insights about energy sourcing and sustainability data linked to each mining location. This transparency supports a growing demand from environmentally conscious participants who value ethical practices in digital finance.

    The new XRP-based mining plans come with varied durations, allowing users to select short, medium, or longer-term commitments based on their liquidity and earnings preferences. The flexibility of these contracts reflects AIXA Miner’s mission to serve a broad spectrum of users—from first-time participants to seasoned crypto investors seeking high profit platforms that are automated, secure, and optimized.

    By removing the need to invest in expensive hardware, configure mining pools, or maintain physical equipment, AIXA Miner simplifies the entry point to passive income generation. The only requirement is an XRP balance and a few minutes to complete the contract initiation process. From there, daily rewards begin accumulating immediately and are delivered automatically, 24/7.

    “This integration makes it possible for users to transform their XRP holdings into a reliable income channel without selling their assets or engaging in high-risk market behavior,” the spokesperson added. “It’s a utility upgrade, a compliance upgrade, and a user experience upgrade—wrapped into one.”

    With this feature now live, AIXA Miner continues to lead the evolution of intelligent, accessible crypto infrastructure, designed to support long-term growth through automation, sustainability, and global interoperability.

    Media Contact:
    PR Division
    info@aixaminer.com
    https://aixaminer.com

    Attachment

    The MIL Network –

  • MIL-OSI Submissions: Microbes in deep-sea volcanoes can help scientists learn about early life on Earth, or even life beyond our planet

    Source: The Conversation – USA – By James F. Holden, Professor of Microbiology, UMass Amherst

    A submersible, which travels to the seafloor to collect rock and microbe samples, is lifted by the arm of a research vessel. James F. Holden

    People have long wondered what life was first like on Earth, and if there is life in our solar system beyond our planet. Scientists have reason to believe that some of the moons in our solar system – like Jupiter’s Europa and Saturn’s Enceladus – may contain deep, salty liquid oceans under an icy shell. Seafloor volcanoes could heat these moons’ oceans and provide the basic chemicals needed for life.

    Similar deep-sea volcanoes found on Earth support microbial life that lives inside solid rock without sunlight and oxygen. Some of these microbes, called thermophiles, live at temperatures hot enough to boil water on the surface. They grow from the chemicals coming out of active volcanoes.

    Because these microorganisms existed before there was photosynthesis or oxygen on Earth, scientists think these deep-sea volcanoes and microbes could resemble the earliest habitats and life on Earth, and beyond.

    To determine if life could exist beyond Earth in these ocean worlds, NASA sent the Cassini spacecraft to orbit Saturn in 1997. The agency has also sent three spacecraft to orbit Jupiter: Galileo in 1989, Juno in 2011 and most recently Europa Clipper in 2024. These spacecraft flew and will fly close to Enceladus and Europa to measure their habitability for life using a suite of instruments.

    A diagram of the interior of Saturn’s moon Enceladus, which may have hot plumes beneath its ocean.
    Surface: NASA/JPL-Caltech/Space Science Institute; interior: LPG-CNRS/U. Nantes/U. Angers. Graphic composition: ESA

    However, for planetary scientists to interpret the data they collect, they need to first understand how similar habitats function and host life on Earth.

    My microbiology laboratory at the University of Massachusetts Amherst studies thermophiles from hot springs at deep-sea volcanoes, also called hydrothermal vents.

    Diving deep for samples of life

    I grew up in Spokane, Washington, and had over an inch of volcanic ash land on my home when Mount St. Helens erupted in 1980. That event led to my fascination with volcanoes.

    Several years later, while studying oceanography in college, I collected samples from Mount St. Helens’ hot springs and studied a thermophile from the site. I later collected samples at hydrothermal vents along an undersea volcanic mountain range hundreds of miles off the coast of Washington and Oregon. I have continued to study these hydrothermal vents and their microbes for nearly four decades.

    Crewed submarines travel deep underwater to collect samples from hydrothermal vents.
    Gavin Eppard, WHOI/Expedition to the Deep Slope/NOAA/OER, CC BY

    Submarine pilots collect the samples my team uses from hydrothermal vents using human-occupied submarines or remotely operated submersibles. These vehicles are lowered into the ocean from research ships where scientists conduct research 24 hours a day, often for weeks at a time.

    The samples collected include rocks and heated hydrothermal fluids that rise from cracks in the seafloor.

    The submarines use mechanical arms to collect the rocks and special sampling pumps and bags to collect the hydrothermal fluids. The submarines usually remain on the seafloor for about a day before returning samples to the surface. They make multiple trips to the seafloor on each expedition.

    Inside the solid rock of the seafloor, hydrothermal fluids as hot at 662 degrees Fahrenheit (350 Celsius) mix with cold seawater in cracks and pores of the rock. The mixture of hydrothermal fluid and seawater creates the ideal temperatures and chemical conditions that thermophiles need to live and grow.

    Plumes rising from hydrothermal vents in the Atlantic Ocean.
    P. Rona / OAR/National Undersea Research Program; NOAA

    When the submarines return to the ship, scientists – including my research team – begin analyzing the chemistry, minerals and organic material like DNA in the collected water and rock samples.

    These samples contain live microbes that we can cultivate, so we grow the microbes we are interested in studying while on the ship. The samples provide a snapshot of how microbes live and grow in their natural environment.

    Thermophiles in the lab

    Back in my laboratory in Amherst, my research team isolates new microbes from the hydrothermal vent samples and grows them under conditions that mimic those they experience in nature. We feed them volcanic chemicals like hydrogen, carbon dioxide, sulfur and iron and measure their ability to produce compounds like methane, hydrogen sulfide and the magnetic mineral magnetite.

    The thermophilic microbe Pyrodictium delaneyi isolated by the Holden lab from a hydrothermal vent in the Pacific Ocean. It grows at 194 degrees Fahrenheit (90 Celsius) on hydrogen, sulfur and iron.
    Lin et al., 2016/The Microbiology Society

    Oxygen is typically deadly for these organisms, so we grow them in synthetic hydrothermal fluid and in sealed tubes or in large bioreactors free of oxygen. This way, we can control the temperature and chemical conditions they need for growth.

    From these experiments, we look for distinguishing chemical signals that these organisms produce which spacecraft or instruments that land on extraterrestrial surfaces could potentially detect.

    We also create computer models that best describe how we think these microbes grow and compete with other organisms in hydrothermal vents. We can apply these models to conditions we think existed on early Earth or on ocean worlds to see how these microbes might fare under those conditions.

    We then analyze the proteins from the thermophiles we collect to understand how these organisms function and adapt to changing environmental conditions. All this information guides our understanding of how life can exist in extreme environments on and beyond Earth.

    Uses for thermophiles in biotechnology

    In addition to providing helpful information to planetary scientists, research on thermophiles provides other benefits as well. Many of the proteins in thermophiles are new to science and useful for biotechnology.

    The best example of this is an enzyme called DNA polymerase, which is used to artificially replicate DNA in the lab by the polymerase chain reaction. The DNA polymerase first used for polymerase chain reaction was purified from the thermophilic bacterium Thermus aquaticus in 1976. This enzyme needs to be heat resistant for the replication technique to work. Everything from genome sequencing to clinical diagnoses, crime solving, genealogy tests and genetic engineering uses DNA polymerase.

    DNA polymerase is an enzyme that plays an essential role in DNA replication. A heat-resistant form from thermophiles is useful in bioengineering.
    Christinelmiller/Wikimedia Commons, CC BY-SA

    My lab and others are exploring how thermophiles can be used to degrade waste and produce commercially useful products. Some of these organisms grow on waste milk from dairy farms and brewery wastewater – materials that cause fish kills and dead zones in ponds and bays. The microbes then produce biohydrogen from the waste – a compound that can be used as an energy source.

    Hydrothermal vents are among the most fascinating and unusual environments on Earth. With them, windows to the first life on Earth and beyond may lie at the bottom of our oceans.

    James F. Holden receives funding from NASA.

    – ref. Microbes in deep-sea volcanoes can help scientists learn about early life on Earth, or even life beyond our planet – https://theconversation.com/microbes-in-deep-sea-volcanoes-can-help-scientists-learn-about-early-life-on-earth-or-even-life-beyond-our-planet-260977

    MIL OSI –

  • MIL-OSI Submissions: Microbes in deep-sea volcanoes can help scientists learn about early life on Earth, or even life beyond our planet

    Source: The Conversation – USA – By James F. Holden, Professor of Microbiology, UMass Amherst

    A submersible, which travels to the seafloor to collect rock and microbe samples, is lifted by the arm of a research vessel. James F. Holden

    People have long wondered what life was first like on Earth, and if there is life in our solar system beyond our planet. Scientists have reason to believe that some of the moons in our solar system – like Jupiter’s Europa and Saturn’s Enceladus – may contain deep, salty liquid oceans under an icy shell. Seafloor volcanoes could heat these moons’ oceans and provide the basic chemicals needed for life.

    Similar deep-sea volcanoes found on Earth support microbial life that lives inside solid rock without sunlight and oxygen. Some of these microbes, called thermophiles, live at temperatures hot enough to boil water on the surface. They grow from the chemicals coming out of active volcanoes.

    Because these microorganisms existed before there was photosynthesis or oxygen on Earth, scientists think these deep-sea volcanoes and microbes could resemble the earliest habitats and life on Earth, and beyond.

    To determine if life could exist beyond Earth in these ocean worlds, NASA sent the Cassini spacecraft to orbit Saturn in 1997. The agency has also sent three spacecraft to orbit Jupiter: Galileo in 1989, Juno in 2011 and most recently Europa Clipper in 2024. These spacecraft flew and will fly close to Enceladus and Europa to measure their habitability for life using a suite of instruments.

    A diagram of the interior of Saturn’s moon Enceladus, which may have hot plumes beneath its ocean.
    Surface: NASA/JPL-Caltech/Space Science Institute; interior: LPG-CNRS/U. Nantes/U. Angers. Graphic composition: ESA

    However, for planetary scientists to interpret the data they collect, they need to first understand how similar habitats function and host life on Earth.

    My microbiology laboratory at the University of Massachusetts Amherst studies thermophiles from hot springs at deep-sea volcanoes, also called hydrothermal vents.

    Diving deep for samples of life

    I grew up in Spokane, Washington, and had over an inch of volcanic ash land on my home when Mount St. Helens erupted in 1980. That event led to my fascination with volcanoes.

    Several years later, while studying oceanography in college, I collected samples from Mount St. Helens’ hot springs and studied a thermophile from the site. I later collected samples at hydrothermal vents along an undersea volcanic mountain range hundreds of miles off the coast of Washington and Oregon. I have continued to study these hydrothermal vents and their microbes for nearly four decades.

    Crewed submarines travel deep underwater to collect samples from hydrothermal vents.
    Gavin Eppard, WHOI/Expedition to the Deep Slope/NOAA/OER, CC BY

    Submarine pilots collect the samples my team uses from hydrothermal vents using human-occupied submarines or remotely operated submersibles. These vehicles are lowered into the ocean from research ships where scientists conduct research 24 hours a day, often for weeks at a time.

    The samples collected include rocks and heated hydrothermal fluids that rise from cracks in the seafloor.

    The submarines use mechanical arms to collect the rocks and special sampling pumps and bags to collect the hydrothermal fluids. The submarines usually remain on the seafloor for about a day before returning samples to the surface. They make multiple trips to the seafloor on each expedition.

    Inside the solid rock of the seafloor, hydrothermal fluids as hot at 662 degrees Fahrenheit (350 Celsius) mix with cold seawater in cracks and pores of the rock. The mixture of hydrothermal fluid and seawater creates the ideal temperatures and chemical conditions that thermophiles need to live and grow.

    Plumes rising from hydrothermal vents in the Atlantic Ocean.
    P. Rona / OAR/National Undersea Research Program; NOAA

    When the submarines return to the ship, scientists – including my research team – begin analyzing the chemistry, minerals and organic material like DNA in the collected water and rock samples.

    These samples contain live microbes that we can cultivate, so we grow the microbes we are interested in studying while on the ship. The samples provide a snapshot of how microbes live and grow in their natural environment.

    Thermophiles in the lab

    Back in my laboratory in Amherst, my research team isolates new microbes from the hydrothermal vent samples and grows them under conditions that mimic those they experience in nature. We feed them volcanic chemicals like hydrogen, carbon dioxide, sulfur and iron and measure their ability to produce compounds like methane, hydrogen sulfide and the magnetic mineral magnetite.

    The thermophilic microbe Pyrodictium delaneyi isolated by the Holden lab from a hydrothermal vent in the Pacific Ocean. It grows at 194 degrees Fahrenheit (90 Celsius) on hydrogen, sulfur and iron.
    Lin et al., 2016/The Microbiology Society

    Oxygen is typically deadly for these organisms, so we grow them in synthetic hydrothermal fluid and in sealed tubes or in large bioreactors free of oxygen. This way, we can control the temperature and chemical conditions they need for growth.

    From these experiments, we look for distinguishing chemical signals that these organisms produce which spacecraft or instruments that land on extraterrestrial surfaces could potentially detect.

    We also create computer models that best describe how we think these microbes grow and compete with other organisms in hydrothermal vents. We can apply these models to conditions we think existed on early Earth or on ocean worlds to see how these microbes might fare under those conditions.

    We then analyze the proteins from the thermophiles we collect to understand how these organisms function and adapt to changing environmental conditions. All this information guides our understanding of how life can exist in extreme environments on and beyond Earth.

    Uses for thermophiles in biotechnology

    In addition to providing helpful information to planetary scientists, research on thermophiles provides other benefits as well. Many of the proteins in thermophiles are new to science and useful for biotechnology.

    The best example of this is an enzyme called DNA polymerase, which is used to artificially replicate DNA in the lab by the polymerase chain reaction. The DNA polymerase first used for polymerase chain reaction was purified from the thermophilic bacterium Thermus aquaticus in 1976. This enzyme needs to be heat resistant for the replication technique to work. Everything from genome sequencing to clinical diagnoses, crime solving, genealogy tests and genetic engineering uses DNA polymerase.

    DNA polymerase is an enzyme that plays an essential role in DNA replication. A heat-resistant form from thermophiles is useful in bioengineering.
    Christinelmiller/Wikimedia Commons, CC BY-SA

    My lab and others are exploring how thermophiles can be used to degrade waste and produce commercially useful products. Some of these organisms grow on waste milk from dairy farms and brewery wastewater – materials that cause fish kills and dead zones in ponds and bays. The microbes then produce biohydrogen from the waste – a compound that can be used as an energy source.

    Hydrothermal vents are among the most fascinating and unusual environments on Earth. With them, windows to the first life on Earth and beyond may lie at the bottom of our oceans.

    James F. Holden receives funding from NASA.

    – ref. Microbes in deep-sea volcanoes can help scientists learn about early life on Earth, or even life beyond our planet – https://theconversation.com/microbes-in-deep-sea-volcanoes-can-help-scientists-learn-about-early-life-on-earth-or-even-life-beyond-our-planet-260977

    MIL OSI –

  • MIL-OSI Submissions: Why is heart cancer so rare? A biologist explains

    Source: The Conversation – USA – By Julie Phillippi, Associate Professor of Cardiothoracic Surgery and Bioengineering, University of Pittsburgh

    When heart cancer does happen, it can be particularly serious. Olga Pankova/Moment via Getty Images

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to CuriousKidsUS@theconversation.com.

    Why is heart cancer so rare? – Jackson, age 12, Davis, California

    You probably know someone who is affected by cancer. This disease results when cells divide uncontrollably and can make a person sick, sometimes very seriously.

    Cancer can occur anywhere in the body because every tissue and organ is made up of billions or even trillions of cells. But there are some parts of the body where cancer doesn’t happen as often, such as the heart. Studies show 3 in 10,000 people develop heart cancer. In comparison, 1 in 20 women are expected to develop breast cancer. Why is that?

    I’m a biologist who specializes in the blood vessels of the cardiovascular system. A big part of my work focuses on how cells interact with their environment to regulate the function of tissues and organs. Disease can develop when things go wrong.

    Turns out, heart cells have unique features that make them super resistant to cancer.

    How cancer starts

    Cells produce more cells to grow, replace older or worn-out cells or to repair damaged tissues. This process is called cell division. Each type of cell in the body divides at different rates based on multiple factors, including what their function is and a person’s age.

    For example, the cells of a growing human embryo divide extremely fast, undergoing four divisions in three days. The cells that make up the skin, nails and hair regularly replenish across your lifespan. Bone cells divide at a rate that will give you an entirely new skeleton approximately every 10 years.

    Whether and how often a cell divides is tightly regulated by a series of molecular checkpoints. During cell division, genes within DNA are duplicated and evenly distributed into two daughter cells. Damage to these genes caused by exposure to harmful chemicals, ultraviolet light or radiation can result in mutations that cause disease. Mutations can just happen randomly, too. When there are mutations on the genes regulating cell division, cancer can develop.

    Cells move through a series of checkpoints before division.
    OpenStax, CC BY-SA

    What protects heart cells from cancer?

    Even though the heart is the first organ to form and start working during early development, cells in the adult heart divide very few times after birth, with division dramatically declining after age 20. In fact, less than 50% of heart cells are replaced over the course of an average human life. That means half of the heart cells you’re born with will be helping pump blood for your entire life.

    This low rate of cell division in the adult heart likely serves as its primary defense against cancer. The less often a cell divides, the fewer opportunities there are for mistakes during DNA replication.

    The heart’s location in the body gives it more protection from certain cancer-causing factors.
    OpenStax, CC BY-SA

    The heart is also less directly exposed to cancer-causing factors, such as UV light on the skin or inhaled substances in the lung, due to its protected location in the chest.

    Unfortunately, the heart’s low rate of cell division has some downsides, such as a reduced ability to repair and replace cells damaged by disease, injury or aging.

    Why heart cancer still happens

    Even with the heart’s resistance to cancer, tumors may still form.

    When cancer is found in the heart, it’s often the result of cancer cells migrating from another part of the body to the heart. This process is called metastasis. Certain types of skin cancers or cancers in the chest are more likely to spread to the heart, though this is still rare.

    When they do happen, heart tumors can be quite serious and more aggressive than other cancers. A study analyzing more than 100,000 heart cancer cases in the United States found that patients who underwent surgery and chemotherapy to treat their heart cancer survived longer than those who did not.

    Successful cancer care spans multiple areas of medicine. These include palliative care, which focuses on relieving pain and addressing symptoms, and integrative medicine, which considers the mind-body-spirit connection.

    Heart cancer holds clues to heart regeneration

    Understanding how heart cells divide and what causes that process to change offers clues about disease and shapes ideas for new treatments.

    For example, research into how heart cells divide helps scientists better understand why the heart doesn’t heal well after a heart attack. Researchers found that although failing hearts have more dividing cells than healthy hearts, they need help to recover fully.

    New technologies, such as the ability to reprogram blood cells into heart cells, have allowed researchers to develop new heart disease models to study and one day achieve heart regeneration. This opens doors for new treatments for heart diseases, including cancer.

    Understanding why cancer doesn’t happen is just as important for developing new and better treatments as knowing why it does. The answers to both questions lie truly at the heart.

    Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

    And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

    Julie Phillippi receives funding from the National Heart Lung and Blood Institute.

    – ref. Why is heart cancer so rare? A biologist explains – https://theconversation.com/why-is-heart-cancer-so-rare-a-biologist-explains-256055

    MIL OSI –

  • MIL-OSI United Kingdom: Inquiry to uncover truth of Orgreave

    Source: United Kingdom – Executive Government & Departments

    News story

    Inquiry to uncover truth of Orgreave

    Inquiry into violent confrontation at Orgreave to be established this year, with the Rt Revd Dr Pete Wilcox, Bishop of Sheffield, appointed as chair.

    The Home Secretary visiting the site alongside campaigners and the National Union of Mineworkers

    An inquiry into the violent confrontation between police, picketers and subsequent protesters at Orgreave 41 years ago will be established as the government delivers its manifesto commitment to uncover the truth.

    The inquiry, expected to launch in the autumn, will investigate the events surrounding clashes at the Orgreave Coking Plant in 1984, causing 120 injuries. In total, 95 picketers were arrested and initially charged with riot and violent disorder, but all charges were later dropped after evidence was discredited.

    The inquiry will be statutory, with the appropriate powers to compel people to provide information where necessary.

    The Rt Revd Dr Pete Wilcox, the Bishop of Sheffield, has agreed to chair the inquiry, which is intended to aid the public’s understanding of how the events on the day, and immediately after, came to pass.

    The event has left a lasting impact on those present that day and their families, as well as undermining the wider mining community’s confidence in policing for decades.

    That is why, as the government looks to rebuild public confidence in policing as part of its Plan for Change, it is delivering on this manifesto commitment to bring to light what happened at Orgreave, with the Home Secretary visiting the site alongside the campaigners and the National Union of Mineworkers who have fought for years for answers.

    Home Secretary Yvette Cooper said: 

    Every community should have confidence in their police, but we know what happened at Orgreave cast a shadow over communities in Yorkshire and other mining areas.

    The violent scenes and subsequent prosecutions raised concerns that have been left unanswered for decades, and we must now establish what happened.

    I pay tribute to the campaigners who never stopped in their search for truth and justice, and I look forward to continuing to work with them as we build an inquiry that gets the answers they and their communities deserve.

    The Rt Revd Dr Pete Wilcox said:

    I am extremely grateful to the Home Secretary for the opportunity to chair this inquiry and for the support I shall be given in doing so. I do not underestimate the weight of expectation or the significance of the task. 

    I look forward to engaging with stakeholders in the coming weeks over the draft terms of reference, and to working with the government to identify experts to support me on the independent panel.

    I expect the panel to begin its work in the autumn, and we will endeavour to deliver an inquiry which is thorough and fair, and which will uncover what happened at Orgreave as swiftly as possible.

    The government has engaged with campaign groups throughout the process of designing the inquiry to ensure their concerns and experiences are considered.

    Formal consultation between the Home Secretary and the Rt Revd Dr Pete Wilcox on the inquiry’s terms of reference has already begun, and further engagement with key stakeholders will be an important part of that process. The inquiry will aim to deliver swiftly to ensure the wellbeing of those searching for answers is not unduly impacted.

    A final copy of the terms of reference will then be published at the earliest opportunity.

    Orgreave Truth and Justice Campaign Secretary, Kate Flannery, said: 

    We have waited a long time for this day and this is really positive news. All these years of hard work by the OTJC and our many supporters has helped to influence this constructive announcement. We appreciate the Home Secretary’s commitment to holding some kind of Orgreave inquiry. 

    We now need to be satisfied that the inquiry is given the necessary powers to fully investigate all the aspects of the orchestrated policing at Orgreave, and have unrestricted access to all relevant information including government, police and media documents, photos and films.

    The National Union of Mineworkers General Secretary, Chris Kitchen, said:

    The NUM welcome the announcement the Home Secretary, Yvette Cooper, has made to hold a statutory inquiry into the policing at Orgreave and subsequent court case abandoned after police evidence was discredited.

    It is hugely welcome to see this government fulfil its pledge made in the Labour Party Manifesto to the mining community. The events at Orgreave, and throughout the strike, destroyed the trust between the police and mining communities even now, 41 years later. It is vital that this trust is won back and the NUM believe this inquiry will go some way to rebuilding that trust.

    The NUM will offer the Rt Revd Dr Pete Wilcox, Bishop of Sheffield, any assistance that he requires to ensure that the inquiry uncovers the truth about who orchestrated the events at Orgreave and the failed court case so that precautions can be put in place, so it never happens again.

    South Yorkshire’s Mayor, Oliver Coppard, said:

    What happened at Orgreave remains one of the most controversial episodes in policing history. The violent clashes, the arrest of 95 miners, the collapse of the subsequent trial after revelations about police conduct, and the absence of any investigation or accountability scarred those involved, and people across our entire community.

    So, the announcement of a public inquiry into the events at Orgreave is a landmark moment for justice and accountability. We wouldn’t have got this without the sheer determination of the campaigners and a government and Home Secretary who have listened to the long-held concerns.

    The inquiry represents an opportunity to examine not only the actions of South Yorkshire Police and other forces on that day, but also the broader role of government at the time. It’s a step towards setting the historical record straight, ensuring lessons are learned, and restoring public trust.

    We owe it to the miners, their families, and our communities to ensure that the events of Orgreave are finally understood. My hope is that the public inquiry is completed at pace and that at the end of the process it brings closure and a sense of justice for those involved and their families in particular, and that we are finally able to turn the page on the events of that moment in our history.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Rouge National Urban Park Celebrates 10 Years

    Source: Government of Canada News (2)

    Milestone anniversary for Canada’s first national urban park

    July 21, 2025                                  Markham, Ontario                                       Parks Canada

    Rouge National Urban Park, Canada’s first national urban park and one of the largest protected urban parks in the world, offers easy access to residents of Canada’s largest urban centre to explore a rich assembly of forests, creeks, farms and trails as well as marshland, a beach on Lake Ontario and human history spanning 10,000 years.

    Today, the Honourable Gary Anandasangaree, Minister of Public Safety and Member of Parliament for Scarborough—Guildwood—Rouge Park, on behalf of the Honourable Steven Guilbeault, Minister of Canadian Identity and Culture and Minister responsible for Official Languages, celebrated this important milestone at an event honouring Indigenous partners, volunteers, farmers, advocates, and local stakeholders who have helped shape the vision of the park. The ceremony highlighted key achievements from the past decade, including major land assembly and legislation, the completion of the park’s first management plan, the development of a multi-species action plan, the completion of 137 restoration projects with partners and collaborators, the addition of 23 km of new trails and a $21 million investment in the future visitor, learning and community centre.

    Since its establishment in 2015, Rouge National Urban Park has become a globally recognized model for conservation in an urban setting. Spanning over 79 square kilometres, an area 1.3 times larger than the city of Manhattan, the park protects a remarkable diversity of natural, cultural, and agricultural landscapes and continues to evolve through Indigenous leadership, community stewardship, restoration efforts, and collaboration across all levels of government.

    Parks Canada will celebrate the 10th anniversary of Rouge National Urban Park throughout 2025. Weekly features on the park’s Facebook page will highlight key moments of its history, while on-site anniversary programming will offer visitors opportunities to reflect on the park’s past, share their own stories, and contribute to a collective vision for the future of Canada’s first national urban park. 

    MIL OSI Canada News –

  • MIL-OSI China: Farmers across China busy with agricultural production in farming season around Dashu

    Source: People’s Republic of China – State Council News

    Farmers across China busy with agricultural production in farming season around Dashu

    Updated: July 21, 2025 20:58 Xinhua
    An aerial drone photo taken on July 21, 2025 shows villagers driving transplanters to plant rice seedlings in Yuyao, east China’s Zhejiang Province. Farmers across the country are busy with agricultural production in the farming season around Dashu, or the Great Heat, the 12th of traditional Chinese 24 solar terms falling on July 22 this year. [Photo/Xinhua]
    Farmers harvest marigold flowers in Tengchong, southwest China’s Yunnan Province, July 21, 2025. [Photo/Xinhua]
    Farmers transplant rice seedlings in Loudi, central China’s Hunan Province, July 21, 2025. [Photo/Xinhua]
    An aerial drone photo taken on July 21, 2025 shows a farmer carrying rice seedlings in Loudi, central China’s Hunan Province. [Photo/Xinhua]
    A drone photo taken on July 21, 2025 shows villagers transplanting rice seedlings in Hengyang, central China’s Hunan Province. [Photo/Xinhua]
    An aerial drone photo taken on July 21, 2025 shows villagers transplanting rice seedlings in Hengyang, central China’s Hunan Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Russia makes group raids on Ukraine

    Source: People’s Republic of China – State Council News

    Russian forces launched an overnight group strike on Ukraine’s military-industrial complex and the infrastructure of military airfields, the Russian Defense Ministry said Monday.

    The raid involved long-range high-precision weapons launched from air, land and sea-based platforms, including “Kinzhal” air-launched hypersonic ballistic missiles and combat drones, the ministry said in a statement.

    Meanwhile, Russia’s air defense intercepted 74 Ukrainian drones overnight, including 23 in the Moscow Region, it added.

    Airports in Moscow introduced air restrictions in the early hours of Monday for flight safety reasons, which were subsequently lifted, according to Russia’s Federal Air Transport Agency.

    Downed drone debris caused a fire on the roof of the railway station in the village of Kamenolomni in the Rostov Region, and more than 50 trains were delayed, said Russian Railways.

    MIL OSI China News –

  • MIL-OSI Security: Tennessee Man Sentenced to Prison for Operating Investment Scheme

    Source: US FBI

    KANSAS CITY, KAN. – A Tennessee man was sentenced to 71 months in prison after being convicted of running a $1.9 million Ponzi scheme.

    According to court documents, Alcides Roman, 66, of Lebanon, Tennessee, pleaded guilty to one count of wire fraud.
    Roman defrauded victims in Kansas, New York, Texas, and in Canada by soliciting their participation in purportedly high-yield investment programs. In truth, these investment opportunities were fraudulent. Roman did not invest the funds and failed to redeem the investments upon the victims’ requests. Rather, he left the funds in bank accounts he controlled and used the money for his own and others’ benefit. Roman induced victims to make additional or larger investments by making payments to them, ostensibly as returns on investment. Those payments, however, were from the same victim’s prior principal investments or another victim’s investments.

    Roman used funds from the scheme to pay for his personal living expenses, to buy vehicles and land, and to send money to numerous foreign and domestic companies. The total known loss to victims was $1,977,857.

    The Federal Bureau of Investigation (FBI) investigated the case.

    Assistant U.S. Attorney Ryan J. Huschka prosecuted the case.

    ###

    MIL Security OSI –

  • MIL-OSI: ETHRANSACTION launches new mining contracts to Allow Retail Investors to yield more Dogecoin

    Source: GlobeNewswire (MIL-OSI)

    Denver, Colorado, July 21, 2025 (GLOBE NEWSWIRE) —  ETHRANSACTION’s cloud mining contracts are leading the cloud mining industry due to its ease of use and stable crypto yields, In the recent past ETHRANSACTION has launched a variety of new mining contracts including one where the users can generate Dogecoin as a reward of crypto mining.

    Countdown to policy dividends:
    DOGE mining income is expected to be halved in Q4 2025, and the current network computing power competition has surged by 45%! Now you can enter the market to lock in a 40-day high-yield contract and grab the last dividend before halving.

    Hedging volatility tool:
    When DOGE plummeted 20% in a single day due to the news of ETF extension, ETHRANSACTION users still received a stable DOGE fixed dividend share every day.

    Musk’s ecological expansion:
    DOGE payment scenarios penetrate Twitter rewards and Tesla peripherals, hoarding coins = laying out the next generation of payment infrastructure!

    ETHRANSACTION core advantages: security + high returns + extreme simplicity

    Triple security protection, stable capital protection
    Asset insurance:
    Each contract is underwritten by the British century-old insurance giant Legal & General to ensure the protection of the planned contract.

    Military-grade encryption:
    EV SSL encryption + McAfee® anti-hacking system + cold wallet isolated storage, 0 security incident record.

    Compliance backpack:
    Established in 2017, it holds all necessary licenses issued by the British government and has now developed into a world-renowned cloud mining company. [The company is currently preparing for a stock listing]

    Turn on DOGE automatic money printing mode:

    1. Use your email to register an account on the ETHRANSACTION platform and get a $19 bonus in seconds to experience mining immediately.

    2. Purchase a planned contract: A variety of profitable mining plans are available to meet your personal financial needs, whether you are seeking short-term gains or long-term returns. For example:

    Investment amount Plan period Daily profit Total income at maturity
    $100 2 $9 $118
    $600 6 $7.5 $645
    $1300 13 $16.9 $1518.7
    $3700 20 $51.06 $4721.2

    3. Collect daily DOGE: You can easily view the daily account income growth remotely without any management.

    Take action now to grab the DOGE pre-halving bonus: Click to enter the official website https://ethransaction.vip.

    Why do veterans in the cryptocurrency circle choose ETHRANSACTION?

    Hedge trading risks:
    When you are anxious about the rise and fall of the exchange, the miner’s daily DOGE income has been received.

    Turn connections into money:
    Invite friends to get a lifetime 6% commission reward.

    Green mining pioneer:
    The mine is driven by 100% renewable energy, and each DOGE mined reduces carbon emissions by 0.3kg.

    Millionaire Roadmap in 2025
    Suppose you take action today:

    Invest $33,000 and choose ANTSPACE HK3
    “Premium Contract” (40 days):

    Daily income: $9,075 × 40 days = $363,000

    Compound interest reinvestment: Add multiple contracts on the 40th day, and the return will increase by 4%

    Take action now, miss it = miss out!
    The 2025 wealth window is closing: DOGE halving countdown, SEC policy variables, and fierce computing power competition – those who enter the market at this moment will lock in the highest future returns! Take action and don’t miss out on opportunities. Go directly to ETHRANSACTION mining to unlock the DOGE password.

    Email: info@ethransaction.vip
    Website: https://www.ethransaction.vip

    Attachment

    The MIL Network –

  • MIL-OSI: Gevo Sells Carbon Credits from North Dakota Asset

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., July 21, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that it is selling carbon abatement into the market for the first time. To support decarbonization and to mitigate its corporate travel emissions, the buyer, a global financial and technology company, purchased high-integrity durable carbon removal credits, known as CORCs (or CO2 Removal Certificates), that are Puro.earth-certified and are ready to retire immediately. CORCs provide true carbon abatement, with a volume of actual carbon dioxide permanently removed from circulation, which offsets the effect of emissions.

    Selling high-integrity CORCs is core to Gevo’s strategy, with the rapidly expanding demand for high-quality carbon credits presenting a real market opportunity today. CO2 produced by operations at Gevo’s North Dakota ethanol-production facility is currently being generated and sequestered through carbon capture and storage (“CCS”), delivering credits backed by real carbon removal.

    The Gevo North Dakota facility has the appropriate geological formation and operational Class IV well for CCS, with a total estimated sequestration capacity of up to 1 million metric tonnes of CO2 per year. This site can supply customers with CORCs today that are ready to be retired immediately. The supply of credits is certified by Puro.earth under its strict standards for 1,000-plus-years permanence and other key quality parameters required by customers. CCS is a key part of our decarbonization strategy for sustainable aviation fuel (“SAF”) as we develop production on multiple pathways.

    CO2 is a product that is often used in industrial applications, including the food and beverage industry or the petroleum production industry through enhanced oil recovery (“EOR”). Alternatively, CO2 can have value by being captured and permanently stored, in lieu of being emitted to the atmosphere. At Gevo North Dakota, biogenic CO₂ is captured and securely stored underground—enabling the generation of the CORCs.

    “These are real sales of credits for carbon dioxide removal that are being generated right now,” says Alex Clayton, Chief Business Development Officer for Gevo. “Customers should feel confident in the CORCs we provide due to the rigor Gevo and Puro.earth are putting into every step of the process. We previously said that after our purchase of Gevo North Dakota that we would be selling carbon and that’s what we’re doing.”

    “Gevo is demonstrating that durable carbon removal isn’t some distant solution—it’s available now,” said Trenton Spindler, Chief Growth Officer at Puro.earth. “With Puro-certified CORCs, buyers worldwide can act decisively to tackle their toughest emissions with confidence in real, permanent results.”

    About Gevo
    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including SAF, motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring, and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    About Puro.earth
    Puro.earth is a leading carbon-crediting platform for durable carbon dioxide removal (“CDR”). Via the Puro Standard’s rigorous carbon credit methodologies, suppliers that remove carbon dioxide from the atmosphere to durable storages for at least 100 years are certified and issued CORCs into the transparent Puro Registry. CORCs are then purchased by corporations to help address climate change and neutralize residual carbon emissions. Puro.earth is driving forward the carbon removal industry, enabling new revenue streams to accelerate carbon removal.

    For more information, visit puro.earth.

    Forward Looking Statements
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, Puro.earth and its business system, the markets for CORCs and carbon dioxide removal, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations, and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contacts
    Heather L. Manuel for Gevo
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    Charlie Morrow for Puro.earth
    PuroEarth@cognitomedia.com

    IR Contact
    Eric Frey, PhD
    VP, Finance & Strategy
    IR@Gevo.com

    The MIL Network –