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Category: Transport

  • MIL-OSI: Global Interest in Nickel Mining Booming as Demand Skyrockets Around the World

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., March 19, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – According to a report from Grand View Research, the global nickel mining market size was estimated at USD 50.40 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless steel. Hence, development in the stainless steel industry is contributing to the growth of the market. According to the Nickel Institute, over two-thirds of the world’s nickel is utilized in the production of stainless steel. It acts as an alloying agent, enhancing essential properties such as formability, ductility, and weldability while also increasing corrosion resistance for specific applications. The report said: “The nickel mining industry is highly competitive and to gain an edge, major players are acquiring their competitors.   The batteries segment is anticipated to register the fastest CAGR of 7.2% in terms of revenue, over the forecast period (2030). Nickel batteries offer a cost-effective solution for achieving higher energy density and storage capabilities.” Active Companies in the markets today include: First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN), Vale S.A. (NYSE: VALE), Chevron Corporation (NYSE: CVX), Glencore plc (OTCPK: GLNCY) (OTCPK: GLCNF), Quebec Innovative Materials Corp. (OTCQB: QIMCF) (CSE: QIMC).

    Grand View Research continued: “Based on region, Asia Pacific held the largest revenue share of over 57.0% in 2022. The growth in various industries, such as battery manufacturing, automotive & defense, and petrochemicals, is increasing the demand for nickel, which is positively influencing its mining activity. The Russia-Ukraine war has benefitted the Philippines’ nickel industry, as Russia’s output has been declining in the past few years coupled with the aversion it is receiving in trade.   Europe is anticipated to register a CAGR of 7.8% in terms of revenue over the forecast period (2030). The EU has recognized the importance of nickel in the energy transition and has added it to the list of critical minerals. To ensure a diversified supply chain, the EU has set benchmarks for the extraction of at least 10% of the annual consumption of nickel within the boundary of Europe. This move is expected to have a positive impact on the mining activity in the region.   North America is anticipated to register the fastest CAGR of 8.1% over the forecast period (2030). The increasing demand for nickel-based products in aerospace and defense industries has raised its significance as a critical mineral.   In addition, the growing emphasis on accomplishing a domestic supply chain for the EV battery segment is anticipated to boost production in the region.”

    First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN) AND COLORADO SCHOOL OF MINES LAUNCH RESEARCH PARTNERSHIP TO EXPLORE GEOLOGIC HYDROGEN POTENTIAL IN NEWFOUNDLAND OPHIOLITES – First Atlantic Nickel Corp. (FSE: P21) (“First Atlantic” or the “Company”) is pleased to announce a strategic research partnership with Colorado School of Mines to explore geologic hydrogen as an energy source. This collaboration will focus on two significant ophiolite complexes in Newfoundland, Canada: the St. Anthony Ophiolite Complex (Atlantis Project, 103 km²) and the Pipestone Ophiolite Complex (Atlantic Nickel Project, 71 km²). Both projects are 100% owned by First Atlantic and encompass extensive ultramafic rock formations, characterized by awaruite-bearing serpentinized peridotites, which are key indicators of geologic hydrogen.

    First Atlantic Nickel is primarily focused on exploring awaruite nickel-iron alloy mineralization. Additionally, it is partnering with Colorado School of Mines to conduct secondary research on geological hydrogen produced during serpentinization. This collaborative research will leverage data collected by First Atlantic during its ongoing exploration for awaruite nickel deposits. Notably, awaruite serves as an indicator mineral of geologic hydrogen within serpentinized peridotites found in ophiolites. Colorado School of Mines will carry out this hydrogen research component, enhancing the overall exploration program while leveraging First Atlantic’s extensive geological assets and expertise.

    Geologic Hydrogen: Ophiolites and Peridotite

    Ophiolites—sections of oceanic crust and upper mantle thrust onto continental crust—are globally recognized as prime sources of geologic hydrogen, often referred to as “white hydrogen” or “gold hydrogen.” These formations are dominated by ultramafic rocks, notably peridotite, which consists primarily of olivine and pyroxene minerals rich in nickel, chromium, magnesium, and iron. When peridotite interacts with water, it triggers serpentinization—a hydrothermal reaction in which iron oxidizes and water is reduced, releasing molecular hydrogen gas (H₂). This natural process can be represented by the equation:

    3FeO (in olivine) + H₂O → Fe₃O₄ (magnetite) + H₂ – During serpentinization, awaruite (Ni₃Fe) forms as a secondary mineral when liberated nickel (Ni2+) and iron (Fe2+) from the olivine, pyroxene, and chromite minerals react with the abundant hydrogen (H2) present. This natural process can be represented by the equation:

    3(Ni²⁺) + (Fe²⁺) + 4(H₂) → (Ni₃Fe) + 8(H⁺) – The formation of awaruite could not happen without the presence of hydrogen. This process occurs readily in ophiolitic peridotites at depth, where water saturated rocks in oxygen-poor, reducing conditions produce this exothermic reaction, generating heat that sustains further reactions. According to the Geological Survey of Finland, “In Europe and in regions outside the crystal shield, only ophiolites are often referred to as a source of geological hydrogen.” Within these ophiolite settings, serpentinized peridotites are the most promising targets, with peridotites producing significantly more hydrogen than other rocks, up to 4 kg per cubic meter. Ophiolites represent large potential sources of geologic hydrogen, with some of the most significant global geologic hydrogen discoveries occurring in ophiolites.

    “Geologic hydrogen systems are a combination of mineral systems and natural gas systems. In our group, we have the unique combination of expertise from both the mining industry and oil and gas industry to advance geologic hydrogen exploration and stimulated hydrogen monitoring” said Dr. Yaoguo Li from Colorado School of Mines. CONTINUED… Read this and more news for First Atlantic Nickel at:   https://www.fanickel.com/archive

    In other market news of interest:

    Vale S.A. (NYSE: VALE) noted the Company leads the production of nickel metal that is considered one of the most versatile. Hard but also malleable, it is corrosion resistant and retains its properties even when subjected to extreme temperatures. It is part of everyday life: it is used in the production of batteries and items ranging from coins to cars.

    Highlights: The ore obtained from our mines contains more than just nickel. Therefore, by extracting and processing it, we also produce cobalt, copper and precious metals. Where we operate: Brazil, Canada and Indonesia.

    Chevron Corporation (NYSE: CVX) recently announced senior leadership changes as part of the company’s efforts to simplify its organizational structure, execute faster and more effectively, and be positioned for stronger long-term competitiveness.   The company’s Oil, Products & Gas organization will be consolidated into two segments: Upstream and Downstream, Midstream & Chemicals. Mark Nelson will continue to lead this organization as vice chairman and executive vice president, Oil, Products & Gas.

    The Upstream organizational model will drive value through greater standardization across Shale & Tight, Base Assets & Emerging Countries, Offshore, Eurasia and Australia.

    Ceibo, a clean copper extraction technology company, and Glencore plc‘s (OTCPK: GLNCY) (OTCPK: GLCNF) Lomas Bayas Mining Company have recently entered into a partnership to deploy Ceibo’s proprietary leaching technologies that enable a more effective extraction of copper from low-grade sulfides at one of Chile’s leading mines. Lomas Bayas has validated Ceibo’s technology and is moving toward scaling up to assess this as an alternative to extend the life of their mining operations. This partnership follows two years of testing by Glencore, an important contributor to Chile’s position as the world’s largest copper producer.

    Under the terms of the memorandum of understanding, Ceibo’s technology will scale up with on-site testing through the Lomas Lab, a Glencore world-scale test site, and the company’s research and development branch. This agreement opens a significant commercial avenue for Ceibo, demonstrating its unique approach with a major mining company and affirming the value that Ceibo’s advanced leaching technologies bring to copper assets globally.

    Quebec Innovative Materials Corp. (OTCQB: QIMCF) (CSE: QIMC) recently announced the signing of a Memorandum of Understanding (MOU) with Black Tree Energy Group Sàrl (BTEG), a Swiss-based energy infrastructure and project development firm. This partnership reinforces QIMC’s strategic expansion into the U.S., a key market for accelerating the commercialization of natural hydrogen. Together, QIMC and BTEG will drive large-scale hydrogen projects by integrating technical expertise with financial strategy, project development, and execution capabilities.

    With strong support for clean natural hydrogen initiatives, the United States presents a substantial opportunity for natural hydrogen development. Through this Memorandum of Understanding (MOU), QIMC intends to capitalize on its established expertise in natural renewable hydrogen—encompassing geological and geophysical analyses, project evaluation, and hydrogen fieldwork and drilling—to identify high-potential U.S. sites and accelerate the path to commercial production.

    About FN Media Group:

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

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

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

    Contact Information:

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

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Wix Launches Wix Functions to Customize Business Logic Without Code

    Source: GlobeNewswire (MIL-OSI)

    Wix Functions empowers users to create customized business flows, automate pricing and checkout rules, and tailor app behavior

    NEW YORK – Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally1, today launched Wix Functions, a no-code interface that allows users to customize outcomes for various business scenarios, enabling businesses to operate more smoothly and effectively. With an intuitive visual function builder, businesses can define custom business logic, such as adding dynamic pricing rules, enforce checkout conditions, and tailor loyalty rewards, ensuring their operations adapt to their specific business needs.

    With Wix Functions, users can define custom outcomes using conditions, variables, formulas, and dynamic values. Users can start from scratch or customize a template designed for a specific Wix app. By selecting input data from an app, such as cart and checkout details in Wix Stores, users can then apply the  logic to create conditions. The builder visually represents the logic, helping users understand how different criteria affect the function’s output. For example, users can apply location-based fees, trigger a discount for returning customers in the checkout based on purchase history and implement custom form validations. The function then outputs the desired action, which the Wix app executes in real-time. This enhanced customizability of business flows is particularly beneficial as it allows users to implement more custom steps when rendering checkout or validating forms.

    Wix Functions ensures that checkout, rewards, and other workflows wait for the function’s output before proceeding. Users can choose from pre-built function templates or create custom rules from scratch. Functions are triggered by app activity, process the required logic, and return a result that immediately impacts the business flow—whether it’s adjusting a fee, displaying a discount, or restricting a purchase.

    “Wix Functions lets businesses extend and customize Wix apps to fit their unique needs—without writing a single line of code,” said Tomas Petras Rupšys, Head of Wix Functions at Wix. “Building on top of our new Automation builder, Wix Functions gives businesses even more control over their operations, enabling them to customize more workflows, further automate processes and implement advanced business rules. The function’s output directly influences how the Wix app behaves in real-time, ensuring that businesses can seamlessly adapt their operations to meet unique needs, further empowering business owners to operate more efficiently and scale with ease.”

    Wix Functions complements Wix Automations by enabling real-time customization, while automations manage ongoing tasks. Together, they provide a comprehensive suite of tools to help businesses automate and optimize their operations effortlessly.

    Wix Functions is now available on Wix and Wix Studio for Wix Stores, Wix Bookings, Wix Restaurants, Wix Donations, Wix Forms, and Wix Loyalty Program, with free access and optional premium upgrades to access business solutions such as checkout and payments. Users can unlock unlimited actions through premium upgrades. 

    About Wix.com Ltd.

    Wix is the leading SaaS website builder platform1 to create, manage and grow a digital presence. Founded  in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients. 

    For more about Wix, please visit our Press Room
    Media Relations Contact:  PR@wix.com  

    1 Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of H1 2024.

    Attachments

    The MIL Network –

  • MIL-OSI: Apollo Funds to Acquire OEG, a Leading Provider of Core Services to the Offshore Energy Industry

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, March 19, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the “Apollo funds”) have agreed to acquire a majority stake in OEG Energy Group (“OEG” or the “Company”), a leading offshore energy solutions business, from funds managed by the Power Opportunities strategy of Oaktree Capital Management, LP (“Oaktree”) and other investors. The transaction implies a headline valuation of more than $1 billion for OEG, and Oaktree and others will retain a minority equity interest in the Company.

    OEG is a scaled provider of core services across the offshore energy ecosystem, delivering development and operations solutions to oil & gas (O&G) and wind end markets for more than 50 years. The Company owns and operates one of the world’s largest fleets of cargo carrying units (CCUs), with 75,000+ units, enabling the safe transportation of essential cargo to and from offshore energy installations. OEG’s Renewables segment is a global, integrated provider of key technical solutions and services to the offshore wind sector.

    John Heiton, CEO of OEG, said: “Since our company’s founding, we have worked hard to establish OEG as a global leader in delivering core services throughout the offshore energy value chain. As energy producers across Europe and around the globe continue to invest in energy transition, we are committed to expanding and enhancing our capabilities as a key partner. We look forward to working with Apollo as we enter this new and exciting chapter for our business and remain focused on supporting our customers with the same quality service they have come to expect.”

    Wilson Handler, Partner at Apollo, said: “John and team have built OEG into a global leader and trusted provider of offshore equipment and services, with an integrated business model that has scaled across cycles. We see a tremendous opportunity to invest in the Company’s future growth as secular tailwinds drive demand for services enabling efficient energy production and renewable power. Bringing to bear the scale of Apollo’s integrated platform and deep expertise in energy services, we look forward to working with the talented team at OEG to unlock value for its various stakeholders and loyal customer base via organic and inorganic channels.”

    Francesco Giuliani, Managing Director and Assistant Portfolio Manager in Oaktree’s Power Opportunities strategy, said: “We are proud of our partnership with the management team at OEG and the success achieved during Oaktree’s period of ownership. During that time, increased focus on the energy transition and global supply dynamics has made investment for core energy infrastructure even more important. We continue to have strong conviction in OEG’s growth trajectory and are thrilled to maintain a minority interest alongside Apollo funds.”

    Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $58 billioni of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

    The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q2 2025.

    Banco Santander SA acted as financial advisor and Vinson & Elkins LLP served as legal counsel to the Apollo funds on the transaction.

    Goldman Sachs International acted as financial adviser to Oaktree, while Gibson, Dunn & Crutcher LLP (corporate) and Latham & Watkins (financing & antitrust) served as legal advisers.

    White & Case LLP served as legal counsel to OEG management.

    ___________________

    i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030. The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    About OEG Energy Group

    OEG is a leading offshore energy solutions business providing infrastructure assets, technologies and services to the global energy industry. From the company’s beginning in 1973, OEG has evolved significantly, growing both organically and through strategic acquisitions, to become a pivotal link in the global energy supply chain.

    OEG delivers specialized and complementary solutions for above-water, on-water and below-water applications across the full energy lifecycle. From the provision of offshore logistics equipment and bespoke solutions, through to the delivery of integrated services for larger project work scopes, OEG plays an important role in supporting the production of the world’s energy needs whether that be electricity, gas or oil.

    Headquartered in Aberdeen, UK, OEG has over 1,300 employees and operates in more than 65 countries.

    About Oaktree

    Oaktree is a leader among global investment managers specializing in alternative investments, with $202 billion in assets under management as of December 31, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    Oaktree Press Contacts

    FGS Global
    Rory King / Hannah Ratcliff
    Rory.King@fgsglobal.com / Hannah.Ratcliff@fgsglobal.com

    The MIL Network –

  • MIL-OSI: Proscia Raises $50M To Advance AI-Driven Pathology And Deliver The Future Of Precision Medicine

    Source: GlobeNewswire (MIL-OSI)

    • Proscia is rewiring pathology to speed up the development of targeted therapies, accelerate diagnosis, and match more patients with the best course of treatment
    • Funding led by global software investor Insight Partners comes as the surge in cancer cases compounds the impact of the shrinking pathologist workforce
    • The company will use the funds to grow its customer footprint and advance Concentriq, with focus on extending the platform’s core AI capabilities

    PHILADELPHIA, March 19, 2025 (GLOBE NEWSWIRE) — Proscia®, a software company leading pathology’s transition to digital and AI, has secured $50M in funding, bringing its total raised to $130M. This investment follows Proscia’s record-breaking growth in 2024. Proscia now counts 16 of the top 20 pharmaceutical companies among its users and is on track for 22,000+ patients to be diagnosed on its Concentriq® software platform each day.

    Cancer patients often wait more than two months to receive a diagnosis and start treatment1 as the rest of medicine races ahead. Pathology—the bedrock of up to 70% of clinical decisions2 and a critical driver of every drug brought to market—is among the last fields of healthcare to modernize, despite mounting pressures from a workforce shortage and rising case volume. Proscia is rewiring pathology, shifting it from microscope to data-rich images, to overcome these challenges, unlock new insights, and shape the future of care.

    At the center of this transformation is Proscia’s Concentriq, the only AI-driven pathology platform underpinning the precision medicine value chain. In powering drug discovery to diagnostics, Concentriq is a foundation for fueling the next novel therapies, accelerating diagnosis, and connecting a network of life sciences organizations and laboratories to match more patients with targeted treatments.

    “We are living through an extraordinary moment in medicine,” said David West, Proscia’s CEO. “Demand for advanced diagnostics is surging, digital pathology is gaining global traction, and AI is moving faster than the boldest predictions made just a few years ago. Patients are waiting to realize the future of precision medicine. With this investment, we will ensure that more pathologists and scientists can deliver it.”

    The funding was led by global software investor Insight Partners along with AI Capital Partners (Alpha Intelligence Capital’s US fund) and Triangle Peak Partners. Other investors included Avenue Venture Opportunities Fund, Emerald Development Managers, GPG Healthcare, Fusion Fund, Interwoven Ventures, and Razor’s Edge.

    “Insight has had a long-standing thesis on digitization and AI in pathology, and we’ve been waiting for a winner to emerge,” said Scott Barclay, Managing Director at Insight Partners. “Proscia is poised to be that leader. With its fast-growing customer base and strong champions of its product, it will continue to solidify its position as digital pathology moves into the mainstream.”

    Proscia will use the capital to propel its commercial momentum, growing adoption of its platform. This includes leveraging its OEM partnerships with Agilent Technologies and Siemens Healthineers. The company will also continue to weave AI into the core of Concentriq and expand its lead in offering the industry’s most extensive collection of applications through its precision medicine AI portfolio. Building on the impact of Concentriq Embeddings, which brings foundation models to the platform and has been demonstrated to accelerate AI development by 13x, Proscia will further enable researchers and data scientists to develop and deploy algorithms for biomarker discovery, clinical trials, and companion diagnostics on its platform.

    “Adoption of digital pathology and AI is creating an opportunity for a more connected and data-driven healthcare ecosystem,” said Katie Maloney, Partner at industry-leading strategy consulting and market intelligence firm DeciBio. “This shift is enabling precision medicine by making breakthroughs more technologically achievable, commercially viable, and clinically impactful for patients.”

    Learn more:

    About Proscia
    Proscia is a software company accelerating pathology’s transition to a digital, data-driven discipline and enabling AI to advance precision medicine. Its Concentriq enterprise pathology platform, precision medicine AI portfolio, and real-world data fuel the development and use of novel therapies and diagnostics to drive the fight against humanity’s most challenging diseases, like cancer. 16 of the top 20 pharmaceutical companies and a global network of diagnostic laboratories rely on Proscia’s solutions each day. The company has FDA 510(k) clearance and CE-IVDR certification for its diagnostic software. For more information, visit proscia.com, and follow Proscia on LinkedIn and X.

    ________________________________

    1 Lowes, S., & Cropper De Andres, I. (2025, February 13). Cancer waiting times: Latest updates and analysis. Cancer Research UK. ​news.cancerresearchuk.org
    2 NHS England (2017). Digital First: Clinical Transformation Through Pathology Innovation. National Pathology Programme; doi: https://www.england.nhs.uk/wp-content/uploads/2014/02/pathol-dig-first.pdf

    For Proscia
    Sydney Fenkell
    VP, Marketing Communications
    sydney@proscia.com
    215.816.3436

    The MIL Network –

  • MIL-OSI United Kingdom: Latest update on Clade Ib mpox

    Source: United Kingdom – Executive Government & Departments

    News story

    Latest update on Clade Ib mpox

    The UK Health Security Agency (UKHSA) latest updates on Clade Ib mpox.

    Updates on clade Ib mpox case numbers are published on the UKHSA data dashboard

    Latest update

    Clade I mpox no longer considered a high consequence infectious disease

    Clade Ia and Ib mpox will no longer be classified as a high consequence infectious disease (HCID) following a review of available evidence by the Advisory Committee on Dangerous Pathogens, the UK Health Security Agency has confirmed today.

    This decision has been taken because the evidence related to this clade no longer meets the criteria for an HCID, which includes having a high mortality rate and a lack of available interventions.

    However, the decision should not be interpreted as clade I mpox no longer being of any public health consequence. The disease is still a public health emergency of international concern as defined by the WHO.

    Sexual and close physical contact is the main way that mpox spreads.

    There have been no reported deaths from mpox in the UK to date, and vaccination is available for higher risk contacts, healthcare workers, and those who are most at risk.

    Emma Richards, Incident Director at the UK Health Security Agency, said:

    There is now firm evidence of vaccine effectiveness and a low mortality rate for cases of clade I mpox, alongside heightened clinical awareness of symptoms, and access to rapid diagnostic testing and safe therapies with emerging evidence of efficacy.

    This change does not alter our overall public health response and we remain committed to preventing the spread of clade I mpox within the UK.

    While mpox infection is mild for many, it can cause severe symptoms including unusual rashes and blisters, a fever and headache.

    The majority of people who have presented with symptoms report close physical contact, including massages, or sex prior to developing symptoms. It’s important people who have travelled to affected countries in Africa remain alert to the risks and seek medical advice if necessary.

    All 4 UK Chief Medical Officers have agreed to accept the recommendation.

    There have been no cases of clade Ia mpox in the UK, and only a small number of cases of clade Ib mpox. Most of these cases have appeared in returning travellers from affected areas in Africa with the others being household contacts of a case.

    There has been no community transmission of clade I mpox within the UK and the risk to the population remains low.

    In the context of the outbreak in parts of Africa, we expect to see the occasional imported case of clade Ib mpox in the UK.

    Previous

    13 February 2025

    A new case of clade Ib mpox has been detected in England, the UK Health Security Agency (UKHSA) can confirm. 

    The case was detected in London and the individual is now under specialist care at the Royal Free Hospital High Consequence Infectious Diseases unit. They had recently returned from Uganda, where there is currently community transmission of clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual.

    The risk to the UK population remains low. In the context of the outbreak in parts of Africa, we expect to see the occasional imported case of clade Ib mpox in the UK.

    This is the eighth case of clade Ib mpox confirmed in England since October 2024. This case has no links to the previous cases identified in England.

    Close contacts of the case are being followed up by UKHSA and partner organisations. Contacts will be offered testing and vaccination where needed to prevent further infections and they will be advised on any necessary further care if they have symptoms or test positive.

    Dr Merav Kliner, Incident Director at UKHSA, said:

    The risk to the UK population remains low. Close contacts have been identified and offered appropriate advice in order to reduce the chance of further spread.

    Clade Ib mpox has been circulating in several countries in Africa in recent months. Imported cases have been detected in a number of countries including Belgium, Canada, France, Germany, Sweden and the United States.

    There has been extensive planning undertaken to ensure healthcare professionals are equipped and prepared to respond to confirmed cases.

    Further updates on clade Ib mpox case numbers will be published on the following page: Confirmed cases of mpox clade Ib in United Kingdom.

    Previous

    27 January 2025

    Another case of clade Ib mpox has been detected, bringing the total number of confirmed cases since October 2024 to 7, the UK Health Security Agency (UKHSA) can confirm.

    The individual had recently travelled to Uganda. The risk to the UK population remains low.

    The UKHSA and NHS will not be disclosing any further details about the individual.

    Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said:

    The risk to the UK population remains low. Close contacts have been identified and offered appropriate advice in order to reduce the chance of further spread.

    20 January 2025

    A new case of clade Ib mpox has been detected in England, the UK Health Security Agency (UKHSA) can confirm.  

    The case was detected in East Sussex and the individual is now under specialist care at Guy’s and St Thomas’ NHS Foundation Trust. They had recently returned from Uganda, where there is currently community transmission of clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual. 

    The risk to the UK population remains low. In the context of the outbreak in parts of Africa, we expect to see the occasional imported case of clade Ib mpox in the UK. 

    This is the sixth case of clade Ib mpox confirmed in England since October 2024. This case has no links to the previous cases identified in England.

    Close contacts of the case are being followed up by UKHSA and partner organisations. Contacts will be offered testing and vaccination where needed to prevent further infections and they will be advised on any necessary further care if they have symptoms or test positive. 

    Dr Meera Chand, Deputy Director at UKHSA, said: 

    It is thanks to clinicians rapidly recognising the symptoms and the work of our specialist laboratory that we have been able to detect this new case.

    The risk to the UK population remains low following this sixth case, and we are working rapidly to trace close contacts and reduce the risk of any potential spread.

    Clade Ib mpox has been circulating in several countries in Africa in recent months. Imported cases have been detected in a number of countries including Belgium, Canada, France, Germany, Sweden and the United States. 

    There has been extensive planning undertaken to ensure healthcare professionals are equipped and prepared to respond to any further confirmed cases.

    29 November 2024

    A new case of clade Ib mpox has been detected in England, the UK Health Security Agency (UKHSA) can confirm.  

    The case was detected in Leeds and the individual is now under specialist care at Sheffield Teaching Hospitals NHS Foundation Trust. They had recently returned from Uganda, which is seeing community transmission of clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual. 

    The risk to the UK population remains low. We expect to see the occasional imported case of clade Ib mpox in the UK. 

    This is the fifth case of clade Ib mpox confirmed in England in recent weeks. This case has no links to the previous cases identified. All 4 previous cases were from the same household and all have now fully recovered.  

    Close contacts of the case are being followed up by UKHSA and partner organisations. Any contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive. 

    Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said: 

    It is thanks to clinicians rapidly recognising the symptoms and our diagnostics tests that we have been able to detect this new case. 

    The risk to the UK population remains low following this fifth case, and we are working rapidly to trace close contacts and reduce the risk of any potential spread. In accordance with established protocols, investigations are underway to learn how the individual acquired the infection and to assess whether there are any further associated cases. 

    Clade Ib mpox has been widely circulating in the Democratic Republic of Congo (DRC), Burundi, Rwanda, Uganda and Kenya in recent months. Imported cases have been detected in Canada, Sweden, India, Thailand and Germany. 

    There has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any further confirmed cases.

    6 November 2024

    One further case of clade Ib mpox has been detected in a household contact of the first case, the UK Health Security Agency (UKSHA) can confirm.  

    This brings the total number of confirmed cases to 4, all of which belong to the same household. 

    The patient is currently under specialist care at Guy’s and St Thomas’ NHS Foundation Trust in London. The risk to the UK population remains low. 

    The patient has been isolating since identified as a contact of the first case and no additional contact tracing is required. 

    Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said: 

    Mpox is very infectious in households with close contact and so it is not unexpected to see further cases within the same household. 

    The overall risk to the UK population remains low. We are working with partners to make sure all contacts of the cases are identified and contacted to reduce the risk of further spread.

    Contacts of cases are being followed up by UKHSA and partner organisations. All contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive. 

    There has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any further confirmed cases.

    4 November 2024

    Two cases of clade Ib mpox have been detected in household contacts of the first case, the UK Health Security Agency (UKSHA) can confirm. This brings the total number of confirmed cases to 3.

    The 2 patients are currently under specialist care at Guy’s and St Thomas’ NHS Foundation Trust in London. The risk to the UK population remains low.

    There has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any further confirmed cases.

    Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said:

    Mpox is very infectious in households with close contact and so it is not unexpected to see further cases within the same household.

    The overall risk to the UK population remains low. We are working with partners to make sure all contacts of the cases are identified and contacted to reduce the risk of further spread.

    Contacts of all 3 cases are being followed up by UKHSA and partner organisations. All contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive.

    30 October 2024

    The UK Health Security Agency (UKHSA) has detected a single confirmed human case of clade Ib mpox. The risk to the UK population remains low.

    This is the first detection of this clade of mpox in the UK. It is different from mpox clade II that has been circulating at low levels in the UK since 2022, primarily among gay, bisexual and other men-who-have-sex-with-men (GBMSM).

    UKHSA, the NHS and partner organisations have well tested capabilities to detect, contain and treat novel infectious diseases, and while this is the first confirmed case of mpox clade Ib in the UK, there has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any confirmed cases.

    The case was detected in London and the individual has been transferred to the Royal Free Hospital High Consequence Infectious Diseases unit. They had recently travelled to countries in Africa that are seeing community cases of clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual.

    Close contacts of the case are being followed up by UKHSA and partner organisations. Any contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive.

    UKHSA is working closely with the NHS and academic partners to determine the characteristics of the pathogen and further assess the risk to human health. While the existing evidence suggests mpox clade Ib causes more severe disease than clade II, we will continue to monitor and learn more about the severity, transmission and control measures. We will initially manage clade Ib as a high consequence infectious disease (HCID) whilst we are learning more about the virus.

    Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said:

    It is thanks to our surveillance that we have been able to detect this virus. This is the first time we have detected this clade of mpox in the UK, though other cases have been confirmed abroad.

    The risk to the UK population remains low, and we are working rapidly to trace close contacts and reduce the risk of any potential spread. In accordance with established protocols, investigations are underway to learn how the individual acquired the infection and to assess whether there are any further associated cases.

    Health and Social Care Secretary Wes Streeting, said:

    I am extremely grateful to the healthcare professionals who are carrying out incredible work to support and care for the patient affected.

    The overall risk to the UK population currently remains low and the government is working alongside UKHSA and the NHS to protect the public and prevent transmission.

    This includes securing vaccines and equipping healthcare professionals with the guidance and tools they need to respond to cases safely.

    We are also working with our international partners to support affected countries to prevent further outbreaks.

    Steve Russell, NHS national director for vaccination and screening, said:

    The NHS is fully prepared to respond to the first confirmed case of this clade of mpox.

    Since mpox first became present in England, local services have pulled out all the stops to vaccinate those eligible, with tens of thousands in priority groups having already come forward to get protected, and while the risk of catching mpox in the UK remains low, if required the NHS has plans in place to expand the roll out of vaccines quickly in line with supply.

    Clade Ib mpox has been widely circulating in the Democratic Republic of Congo (DRC) in recent months and there have been cases reported in Burundi, Rwanda, Uganda, Kenya, Sweden, India and Germany.

    Clade Ib mpox was detected by UKHSA using polymerase chain reaction (PCR) testing.

    Common symptoms of mpox include a skin rash or pus-filled lesions which can last 2 to 4 weeks. It can also cause fever, headaches, muscle aches, back pain, low energy and swollen lymph nodes.

    The infection can be passed on through close person-to-person contact with someone who has the infection or with infected animals and through contact with contaminated materials. Anyone with symptoms should continue to avoid contact with other people while symptoms persist.

    The UK has an existing stock of mpox vaccines and last month announced further vaccines are being procured to support a routine immunisation programme to provide additional resilience in the UK. This is in line with more recent independent JCVI advice.

    Working alongside international partners, UKHSA has been monitoring clade Ib mpox closely since the outbreak in DRC first emerged, publishing regular risk assessment updates.

    The wider risk to the UK population remains low.

    UKHSA has published its first technical briefing on clade I mpox which provides further information on the current situation and UK preparedness and response.

    MIL OSI United Kingdom –

  • MIL-OSI USA: In West Point, Virginia, a New ‘Subsidence Superstation’ Measures Changing Land Surface

    Source: US Geological Survey

    USGS Scientists Jim Duda (left) and Roger Moburg (center) counterbalance the West Point Extensometer.

    On December 11th 2024, USGS scientists finished installation of a band new extensometer in West Point, Virginia. Though housed in a simple, nondescript building, this state-of-the-art piece of equipment is only the fourth of its kind on the East Coast.

    Extensometers are instruments that measure certain kinds of land motion. They extend hundreds to thousands of feet below the ground, and measure changes in the thickness of the geologic layers they pass through. Some aquifers, or geologic layers that hold and transmit groundwater, can compact under the weight of the ground above if groundwater levels are reduced. If a layer such as an aquifer compacts, the ground surface sinks, or subsides, and the extensometer can measure this subsidence with incredible precision. This new extensometer at West Point is so sensitive, that it can measure upward or downward motion of the ground by fractions of a millimeter (0.01 – 0.05 mm). 

    That’s smaller than the width of a sheet of paper! 

    USGS Technician Daniel Markey connects a continuous GPS senor mounted to the 1,371 ft. extensometer rod, which extends through the roof of the subsidence superstation equipment shelter.

    The instrument itself consists of a borehole similar to a well which extends a whopping 1,371 ft. below the ground surface, and a steel rod which extends from the base of the borehole all the way to the surface. This rod is carefully counter-balanced at the surface so that it rests nearly-weightlessly at the bottom of the borehole. Pressure transducers record minute changes in how much of the extensometer rod is protruding from the ground, and this is converted into a measure of land motion.

    The West Point extensometer, along with older extensometers in Franklin, Suffolk, and Nansemond, form key pillars of the USGS Virginia Vertical Land Motion Monitoring Network, which is supported by the Hampton Roads Sanitation District, the Virginia Department of Environmental Quality, the Hampton Roads Planning District Commission, and USGS Chesapeake Bay Studies. This network is collecting important data that will help Virginians understand where and how fast portions of eastern Virginia are sinking, which will inform how the area adapts to rising sea level. Coastal Virginia is experiencing the highest rates of relative sea level rise of anywhere on the East Coast.

    West Point will be the second of three Land Motion Observatories, or ‘Subsidence Superstations’, located across eastern Virginia. The first Land Motion Observatory is located in Nansemond, and the third will be installed in Newport News in the coming year. Each of these locations will have not only an extensometer to measure compaction, but also observation wells to track groundwater levels, and continuous GPS receivers and synthetic aperture radar corner reflectors so that land motion can be measured using satellites. Each of these methods of measuring subsidence provides scientists with data they can use to isolate what the main causes of sinking land might be in eastern Virginia.

    MIL OSI USA News –

  • MIL-OSI Security: Maryland Man Sentenced to Federal Prison for Pandemic Relief Loan Fraud and Commercial Loan Fraud

    Source: United States Department of Justice (National Center for Disaster Fraud)

    Defendant admitted to spending portions of fraudulent-loan proceeds on a Lamborghini and home renovations.

    Greenbelt, Maryland – U.S. District Judge Lydia K. Griggsby sentenced Andra Shirone Thompson, 48, of Silver Spring, Maryland, to a year and a day for two counts of conspiracy to commit wire fraud.

    Thompson pled guilty to conspiring to defraud Coronavirus Aid, Relief, and Economic Security (CARES) Act loan programs and his role in a years-long scheme to defraud commercial equipment financing companies. He was also sentenced to three years of supervised released and ordered to forfeit $847,280, and pay $813,363.01 in restitution to the victims of his schemes.

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, made the announcement with Supervisory Official Matthew Galeotti, Justice Department’s Criminal Division; Executive Special Agent in Charge Kareem Carter, IRS Criminal Investigation (IRS-CI) Washington, D.C., Field Office; Jeffrey D. Pittano, Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG), Mid-Atlantic Region; Special Agent in Charge Amaleka McCall-Braithwaite, Small Business Administration Office of Inspector General (SBA-OIG), Eastern Region; and Special Agent in Charge William J. DelBagno of the Federal Bureau of Investigation (FBI) – Baltimore Field Office.

    According to his guilty plea, Thompson admitted to participating in a conspiracy to submit fraudulent applications for Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans on behalf of companies he controlled. The companies included Alpha Bravo Tango LLC., Senergy Consulting Group Inc., and Novus Ordo Seclorum LLC. Through the scheme, Thompson fraudulently obtained $716,375. He spent a portion of the proceeds on vehicles, including a 2014 Lamborghini Aventador, and on renovating a home in North Carolina.

    Thompson also joined a conspiracy to defraud equipment financing companies by submitting fraudulent invoices that falsely showed the sale of substantial quantities of computer servers and related equipment. Thompson and his co-conspirators caused borrowers to submit fraudulent invoices to lenders to support their loan applications to purchase items. After approval, lenders deposited loan proceeds into accounts controlled by Thompson and his co-conspirators. The lenders were unaware that the sales on the invoices never occurred. Thompson and his co-conspirators typically “kicked back” a portion of the proceeds to the borrower who submitted the application and kept the rest for themselves. Thompson personally participated in three executions of this scheme, causing approximately $813,362 in fraudulently induced lending.

    Additionally, the co-conspirators caused more than $60 million of fraudulently induced lending across more than 350 separate loans through this scheme. Thompson’s principal co-conspirator, Craig David Davis, 49, of Venice, California, pleaded guilty to wire fraud in the U.S. District Court for the Eastern District of Virginia and was sentenced earlier this month to 93 months incarceration.

    Financial assistance offered through the CARES Act included forgivable loans to small businesses for job retention and other expenses, through the PPP, administered through the Small Business Administration (SBA).  The SBA also offered an EIDL and/or an EIDL advance to help businesses meet their financial obligations.

    The District of Maryland Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the CARES Act. The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors.  The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

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

    U.S. Attorney Hayes commended the IRS-CI, FDIC-OIG, SBA-OIG, and the FBI who investigated the case. Ms. Hayes also thanked Assistant U.S. Attorney Joseph Wenner, along with Trial Attorney David A. Peters from the Department of Justice’s Criminal Division’s Fraud Section, who prosecuted the federal case.

    For more information on the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

  • MIL-OSI: ECN Capital Announces Closing of C$75 Million Offering of 6.50% Convertible Senior Unsecured Debentures

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

    TORONTO, March 19, 2025 (GLOBE NEWSWIRE) — ECN Capital Corp. (TSX: ECN) (“ECN Capital”) today announced that it has closed the previously announced offering (the “Offering”) of C$75 million aggregate principal amount of convertible senior unsecured debentures due April 30, 2030 (the “Debentures”). The Offering was conducted by a syndicate of underwriters co-led by CIBC Capital Markets, National Bank Financial Markets, BMO Capital Markets and RBC Capital Markets, and including Raymond James Ltd., TD Securities Inc., Canaccord Genuity Corp. and Cormark Securities Inc. (collectively, the “Underwriters”). ECN Capital has also granted the Underwriters an option to purchase up to an additional C$11.25 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following closing of the Offering.

    The Debentures bear interest at a rate of 6.50% per annum, payable semi-annually in arrears on April 30 and October 31 of each year, with the first interest payment on October 31, 2025. The Debentures are convertible at the option of the holder into common shares of the Company (“Common Shares”) at an initial conversion price of C$3.77 per Common Share, being a conversion ratio of approximately 265.2520 Common Shares for each C$1,000 principal amount of Debentures, subject to adjustment in certain circumstances. The Debentures will mature on April 30, 2030.

    The Debentures will commence trading today on the Toronto Stock Exchange (“TSX”) under the symbol “ECN.DB.C”. Further details concerning the Offering are set out in ECN Capital’s prospectus supplement dated March 14, 2025, which is available on ECN Capital’s profile on SEDAR+ at www.sedarplus.com.

    ECN Capital intends to use the net proceeds of the Offering to redeem all of its outstanding 6.00% senior unsecured debentures due December 31, 2025 (the “2025 Debentures”), on April 25, 2025 (the “Redemption Date”). Notice of the redemption will be delivered to the registered holder(s) of the 2025 Debentures through the debenture trustee, Computershare Trust Company of Canada (“Computershare Trust”), in accordance with the trust indenture governing the 2025 Debentures between ECN Capital and Computershare Trust dated September 3, 2020. ECN Capital has obtained the consent of the majority of lenders required under its senior credit facility in order to proceed with the redemption of the 2025 Debentures prior to the maturity date.

    On the Redemption Date, the Company will pay holders of the 2025 Debentures a redemption price equal to the outstanding principal amount of 2025 Debentures held, plus accrued and unpaid interest thereon up to but excluding the Redemption Date, less any taxes required to be deducted or withheld.

    The 2025 Debentures are currently listed on the TSX under the symbol ECN.DB. ECN Capital expects that the 2025 Debentures will be de-listed from the TSX following their redemption.

    Beneficial holders of the 2025 Debentures are encouraged to contact their investment dealer if they have any questions about this redemption.

    The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “1933 Act”) and may not be offered, sold or delivered, directly or indirectly, in the United States, or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About ECN Capital Corp.

    With managed assets of US$6.9 billion, ECN Capital Corp. (TSX: ECN) is a leading provider of business services to North American-based banks, institutional investors, insurance company, pension plan, bank and credit union partners (collectively, its “Partners”). ECN Capital originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (floorplan and rental) loans. Its Partners are seeking high-quality assets to match with their deposits, term insurance or other liabilities. These services are offered through two operating segments: (i) Manufactured Housing Finance, and (ii) Recreational Vehicle and Marine Finance.

    Contact

    Katherine Moradiellos
    561-631-8739
    kmoradiellos@ecncapitalcorp.com

    Forward-Looking Statements

    This release includes forward-looking statements regarding ECN Capital and its business. Such statements are based on the current expectations and views of future events of ECN Capital’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Forward-looking statements in this press release include those relating to the use of proceeds of the Offering, the redemption of the 2025 Debentures (including the expected delisting of the 2025 Debentures), the exercise of the over-allotment option and the trading of the Debentures on the Toronto Stock Exchange. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause ECN Capital’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with these forward-looking statements can be found in ECN Capital’s Management Discussion and Analysis for the year ended December 31, 2024 and ECN Capital’s 2024 Annual Information Form dated February 27, 2025, each of which have been filed on SEDAR+ and can be accessed at www.sedarplus.com. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI Economics: Authority sets out AML/CFT/CFP supervisory priorities

    Source: Isle of Man

    The Isle of Man Financial Services Authority has set out a two-year programme of supervisory engagement aimed at countering financial crime.

    A document published on the Authority’s website highlights the supervisory priorities for 2025 to 2027 in relation to anti-money laundering (AML), countering the financing of terrorism (CFT) and countering the financing of proliferation (CFP).

    The AML/CFT Supervision Division is leading on a number of risk-based workstreams to support the drive for continued improvement in standards of compliance with the Island’s   AML/CFT framework. The ongoing and upcoming projects form part of the wider approach being delivered across the Authority’s four dedicated supervisory divisions over the next two years under the broad themes of:

    • Countering Financial Crime
    • Culture, Governance and Risk Management
    • Financial and Operational Resilience
    • Quality of Supervisory Data

    The AML/CFT/CFP work will be carried out in line with the engagement model published in the Authority’s Supervisory Methodology Framework. Resources will be focused on the firms and sectors perceived as posing the most significant risk of money laundering, terrorist financing or proliferation financing. For lower risk firms there will be a greater emphasis on thematic work and outreach.

    The AML/CFT/CFP supervisory programme includes a continuation of projects that have already started, alongside topical TF and PF thematic reviews and new areas of focus designed to complement the Authority’s Strategic Approach to Countering Financial Crime. Work will be delivered through a suite of supervisory activities including inspections, data requests and compliance meetings.

    Topics and approximate timelines will be included as part of the At-A-Glance calendar, which provides advance notice of the Authority’s future activities and key milestones.

    Ashley Whyte, Head of AML/CFT Supervision, said: ‘We are rolling out our supervisory plans for the next two fiscal years with a view to strengthening efforts to reduce financial crime. This work builds evidence to demonstrate the long-term effectiveness of the Island’s AML/CFT/CFP frameworks and identifies areas where remediation or further outreach and guidance may be required to enhance overall standards of compliance.’

    She added: ‘Publishing our AML/CFT/CFP supervisory priorities is intended to assist Island firms with their forward planning, particularly in relation to anticipated demands on compliance functions. I would encourage people to read the document and work with us to protect the Island from the harms caused by financial crime.’

    MIL OSI Economics –

  • MIL-OSI Russia: To Nadezhda Babkina, People’s Artist of Russia

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Mikhail Mishustin congratulated the singer on her anniversary.

    The telegram states, in particular:

    “You have devotedly served our national culture throughout your life, carefully preserving the traditions of Russian song art. Your artistry and vocal mastery have won the hearts of millions of people.

    A man of great talent and creative energy, you have created a special performing style and founded the ensemble “Russian Song”. In each musical composition of your famous group there is depth and genuine sincerity, the beauty of your native land, the richness and breadth of soul, love for the Motherland.

    I wish you health, inspiration, success, new projects and all the best.”

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI: Progressive Reports February 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    MAYFIELD VILLAGE, OHIO, March 19, 2025 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended February 28, 2025:

      February
    (millions, except per share amounts and ratios; unaudited) 2025   2024   Change
    Net premiums written $ 6,684     $ 5,720   17   %
    Net premiums earned $ 6,036     $ 5,129   18   %
    Net income $ 928     $ 737   26   %
    Per share available to common shareholders $ 1.58     $ 1.24   28   %
    Total pretax net realized gains (losses) on securities $ (110 )   $ 80   (238 ) %
    Combined ratio   82.6       86.8   (4.2 ) pts.
    Average diluted equivalent common shares   587.6       587.3   0   %
      February
    (thousands; unaudited) 2025   2024   % Change
    Policies in Force          
    Personal Lines          
    Agency – auto 9,950   8,462   18
    Direct – auto 14,395   11,541   25
    Special lines 6,568   6,019   9
    Property 3,556   3,164   12
    Total Personal Lines 34,469   29,186   18
    Commercial Lines 1,151   1,098   5
    Companywide 35,620   30,284   18
               

    See Progressive’s complete monthly earnings release for additional information.

    About Progressive

    Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

    Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers. 

    Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

    The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

    Company Contact:
    Douglas S. Constantine
    (440) 395-3707
    investor_relations@progressive.com

    The Progressive Corporation
    300 North Commons Blvd.
    Mayfield Village, Ohio  44143
    http://www.progressive.com

    Download PDF: Progressive February 2025 Complete Earnings Release

    The MIL Network –

  • MIL-OSI: Reliance Global Group Launches RELI Auto Leasing—Delivering ANY Vehicle to ANY Location in the United States

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, NJ, March 19, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance”, “we” or the “Company”) today announced the launch of RELI Auto Leasing, a groundbreaking service that enables RELI Exchange Agency Partners to seamlessly offer vehicle leasing to their clients while earning commissions on both the lease and the residual insurance policy. This innovative initiative reinforces the Company’s commitment to expanding revenue opportunities for agency partners while maintaining a strong focus on insurance services.

    Home and auto policies are the core products of personal lines insurance. When clients seek a new vehicle, their insurance agent is often part of the discussion, advising on coverage options and facilitating policy transitions. After a vehicular accident, clients often look toward their insurance agent to discuss how to approach their replacement vehicle. Using our newly launched RELI Auto Leasing, insurance agents can now connect clients to vehicle leasing options without stepping outside their core business.

    “One of the most important aspects of RELI Auto Leasing, is that our agency partners can earn more commissions without becoming trained in auto leasing. Instead, the agency partner seamlessly connects their clients with our trusted leasing partners from within their agent dashboard,” said Ezra Beyman, Chairman and CEO of Reliance Global Group. “This initiative is a game-changer for independent agents, enabling them to offer an added service without losing focus on their core insurance business. By incorporating auto leasing into client conversations, agents not only enhance their value proposition but also unlock new revenue streams that complement their existing insurance offerings. The leasing pricing is both competitive and convenient, making it an attractive choice for clients exploring vehicle lease options. Our agency partners have provided outstanding feedback on our advanced Insurtech white-labelled quoting engine and CRM, positioning RELI Exchange as the obvious choice as an insurance partner. We believe this additional path of revenue for our agency partners furthers our positive differentiator in the insurance industry.”

    Clients benefit from a wide selection of vehicles, all available for delivery anywhere in the U.S., offering unmatched convenience. Whether seeking a new lease or upgrading a current vehicle, clients are now able to enjoy a streamlined process with guidance from a trusted insurance advisor. By bridging the gap between auto leasing and insurance, RELI Exchange empowers agency partners to deepen client relationships, foster long-term loyalty, and generate additional income—without added complexity.

    Moshe Fishman, Director of Insurtech and Operations said, “RELI Auto Leasing is another win for our RELI Exchange Agency Partners, enabling them to strengthen their client relationships while earning additional commissions. When consumers are in the market for a new car, they often overlook how the make and model of their new car can impact their auto insurance premium. When clients include their RELI Exchange agency partner in the car buying process, they can project the effect that each car will have to their insurance premium. This proactive approach eliminates the surprise that happens all too often in the industry when someone gets a new car, only to learn later that their insurance premium increased far more than anticipated. We are proud that RELI Exchange agency partners are adding even more peace of mind to their clients.”

    “Our vision for RELI Exchange has always been to maximize opportunities for our agency partners by providing a comprehensive suite of solutions aligned with their business model,” added Mr. Beyman. “RELI Auto Leasing is another step in our commitment to innovation—empowering independent agents to compete on a national scale through technology and strategic partnerships. As we continue expanding our ecosystem, we remain dedicated to delivering cutting-edge tools and services that drive success for our partners while enhancing the customer experience.”

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, while reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and include statements such as the Company having built a best-in-class InsurTech platform, making RELI Exchange an even more compelling value proposition and further accelerating growth of the platform, rolling out several other services in the near future to RELI Exchange agency partners, building RELI Exchange into the largest agency partner network in the U.S., the Company moving in the right direction and the Company’s highly scalable business model driving significant shareholder value. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere ,and risks and uncertainties related to the Company’s ability to generate the revenue anticipated and the ability to build the RELI Exchange into the largest agency partner network in the U.S., and the other factors described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as the same may be updated from time to time. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, the Company’s Quarterly Reports on Form 10-Q, the Company’s Current Reports on Form 8-K and subsequent filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Contact:
    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: Global Expansion of Turbo Energy Gains Momentum with Launch of Turbo Energy Solutions’ New Business Line in Latin America

    Source: GlobeNewswire (MIL-OSI)

    Introduces New Energy-as-a-Service (EaaS) Financing Model to Mitigate Large Initial Investments in Sustainable Energy Technologies by Customers in Chile

    Performance of the First SUNBOX Industry Installation in Temuco, Chile Successfully Put to the Test During Recent Massive Country-Wide Blackout Just Days After Activation

    VALENCIA, Spain, March 19, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today proudly announced its expansion into Latin America with the formation of Turbo Energy Solutions (“TES”), a wholly owned subsidiary of the Company created to offer advanced, fully integrated, end-to-end solutions for scalable generation, storage and intelligent AI-optimized management of solar energy for commercial and industrial (“C&I”) customers in Chile.

    Turbo Energy Solutions, in collaboration with the Molina Brothers’ Smart Dock group, complete installation of Latin America’s first fully integrated solar generation, storage and AI-optimized energy management system at Alto Labranzo Shopping Center in Chile

    Through TES, the Company has also introduced its new Energy-as-a-Service financing program, which enables C&I customers in Chile to acquire, deploy and capitalize on advanced solar energy production systems integrated with SUNBOX Industry and its innovative AI-powered energy management system, without the need to make large upfront investments in equipment. Customers benefit from an optimized, efficient and sustainable energy supply while also taking full economic advantage of a payment system based on SUNBOX Industry’s AI-powered energy management performance. The EaaS financing program represents a potentially lucrative new recurring revenue stream for Turbo Energy that is expected to fuel exponential growth for the Company as market acceptance and adoption of SUNBOX Industry gains momentum in the region.

    Senior officials from Turbo Energy Solutions and the Smart Dock industrial group: (left to right) Andres Molina, TES Business Partner; Rafael Gonzalez, TES Solar Self-Consumption Director; Agustin Molina, TES Business Partner; Santiago Molina, TES Business Partner; Felipe Bozzo, TES LATAM Strategy Director; Javier Ferrer, TES Business Development Manager, SUNBOX Industry

    Marking the first project in partnership with the Smart Dock industrial group, an enterprise owned and operated by Chile’s prominent Molina Garcia family, TES completed the debut installation of the SUNBOX Industry smart energy storage system in the Alto Labranza shopping center located in Temuco, Chile. The full project involved the implementation of a hybrid solar generation and active storage system consisting of a photovoltaic installation integrated with the SUNBOX Industry system featuring 102.4 kWh of capacity and supported by Turbo Energy’s AI-optimized energy management system. It is estimated that Alto Labranza will produce more than 147 MWh of clean energy annually, while optimizing its energy efficiency.

    Within days following the live activation of the system at Alto Labranza, on February 26, 2025, Chile suffered a massive blackout that affected much of the country, from Arica to the Los Lagos region, including the nation’s capital, Santiago. Despite the widespread power outage, the Alto Labranza shopping center remained fully operational without interruptions, validating the viability, reliability and efficiency of renewable energy and smart storage in the operation of commercial facilities.

    “The installation in the Labranza center signifies the achievement of double milestones for our Company. On the one hand, it represents Turbo Energy’s entry into a leading country in renewable energy with an innovative business model, further demonstrating that execution of our planned global expansion initiative is on track and gaining traction. On the other hand, it represents the first smart storage system implemented in Latin America, setting a precedent for the incorporation of new models that promote the economic decarbonization of this high growth region,” said Mariano Soria, CEO of Turbo Energy.

    For more information on SUNBOX Industry smart energy storage solutions, please email Turbo Energy at sales@Turbo-e.com.  

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and Latin America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management.  Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies.  For more information, please visit www.turbo-e.com. 

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:
    At Turbo Energy, S.A.                                                 
    Dodi Handy, Director of Communications                       
    Phone: 407-960-4636                                                   
    Email: dodihandy@turbo-e.com 

    Attachments

    The MIL Network –

  • MIL-OSI: Newly awarded public tender: Establishment and operation of an external hosting environment for Brugerklubben SBSYS

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Newly awarded public tender: Establishment and operation of an external hosting environment for Brugerklubben SBSYS

    Aalborg, 19 March 2025 – Contain by Netic, a Trifork subsidiary, has recently been awarded a public tender for the establishment and operation of an external hosting environment for Brugerklubben SBSYS. Brugerklubben SBSYS is a Danish association of 41 municipalities and 2 regions that oversees the development of the Electronic Document and Records Management Systems (EDRMS), SBSYS, and SBSIP, which in total support the daily workflow for more than 50,000 users.

    Contain by Netic has been selected to establish and operate an external operating environment that will facilitate the operation of SBSYS and SBSIP for all members. The project involves migrating key components from Hetzner in Germany to Contain by Netic’s Danish infrastructure. Additionally, operations will be consolidated from members’ decentralized environments into a centralized, external hosting environment in Netic’s data center.

    As part of the agreement, Contain by Netic is delivering a PaaS (Platform as a Service) solution based on Managed Kubernetes. This enables Brugerklubben SBSYS to offload all complexity to Contain by Netic while maintaining the flexibility to scale as needed.

    Claus Hansen, CCO at Netic, comments on the agreement:

    “It is a great recognition of our expertise that Brugerklubben SBSYS has chosen Contain by Netic as the managed platform for their critical EDRM systems. With more than 50,000 daily users, reliability and scalability are paramount, and we are proud to take on this critical responsibility. As part of the project, we are moving key components from Germany to a Danish public cloud hosted in Netic’s local data center – an essential step for data protection and compliance. We appreciate the trust placed in us and look forward to a strong four-year partnership, where we will provide modern, secure, and future-proof operations for Brugerklubben SBSYS.”

    The contract has a duration of 48 months. During this period, Contain by Netic will ensure stable and consistent operations while maintaining seamless collaboration with Brugerklubben SBSYS’s other vendors.

    Investor and media contact

    Frederik Svanholm
    Group Investment Director, Head of IR & PR
    frsv@trifork.com, +41 79 357 7317

    About Trifork

    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI Global: Trump’s phone call with Putin fails to deliver ceasefire – here’s what could happen next

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    After more than two hours on the phone on Tuesday, March 17, the US president, Donald Trump, and his Russian counterpart, Vladimir Putin, agreed agreed only to confidence-building measures, not a ceasefire between Ukraine and Russia. The two leaders came away from the call having agreed on a limited prisoner exchange, a suspension of attacks on energy infrastructure, and the creation of working groups to explore further steps towards a ceasefire and ultimately a peace agreement.

    A less charitable way of looking at the outcome of the second call between the two presidents since Trump returned to the White House would be that the ball is now back in America’s court. Putin made it crystal clear to Trump that he is not (yet) in the mood for any compromise.

    This is hardly surprising given recent events.

    The US has pressured Ukraine mercilessly into accepting a proposal for a 30-day ceasefire, which Trump hoped Russia would also agree to. But apart from a vague statement by Trump that he might consider sanctions against Russia, he has so far seemed unwilling to contemplate putting any meaningful equivalent pressure on Putin.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    On the ground, Russia has gained the upper hand in the Kursk region where Ukrainian troops have ceded most of the territory they captured after a surprise offensive last summer. Once Putin’s forces, assisted by thousands of North Korean soldiers, have succeeded in driving the Ukrainians out of Russia, Kyiv will have lost its most valuable bargaining chip in negotiations with Moscow.

    Meanwhile, Russia has also made further gains on the frontlines inside Ukraine especially in parts of Kherson and Zaporizhzhia. These are two of the four regions (the other two are Donetsk and Luhansk) that Putin has claimed for Russia in their entirety since sham referendums in September 2022, despite not yet having full control of them.

    If Russia were to capture yet more Ukrainian territory, Putin would probably find it even easier to convince Trump that his demands are reasonable. The fact that Trump already hinted at a “dividing of assets”, including the nuclear power plant at Zaporizhzhia – Europe’s largest before its forced shutdown in September 2022 – is a worrying indication of how far the Russian president has already pushed the envelope.

    Ukraine war: territory occupied by Russia as at March 18 2025.
    Institute for the Study of War

    But a deal solely between Russia and the US is not going to work. In that sense, time is not only on Putin’s side but also on Zelensky’s.

    The Russian readout of the call between the two presidents claimed that they had discussed “the complete cessation of foreign military assistance and the provision of intelligence information to Kyiv” as a key condition for moving forward – something that Trump subsequently denied in an interview with Fox. This means that, for now, Kyiv is likely to continue to receive US aid.

    Europe at the ready

    Perhaps more importantly in the long term, Europe is also doubling down on support for Ukraine. While Trump and Putin were discussing a carve-up of Ukraine over the phone, the president of the European Commission, Ursula von der Leyen, left no doubt on where the EU stands.

    In a speech at the Royal Danish Military Academy foreshadowing the publication of the commission’s Readiness 2030 white paper on bolstering European defences, she recommitted to developing European “capabilities to have credible deterrence” against a hostile Russia.

    A few hours later, the German parliament passed a multi-billion Euro package that loosens the country’s tight borrowing rules to enable massive investments in defence. This follows announcements of increased defence elsewhere on the continent, including in the UK, Poland, and by the EU itself.

    Meanwhile, the UK and France are leading efforts to assemble a coalition of the willing to help Ukraine. Representatives of the 30-member group gathered in London on March 15 for further talks.

    Afterwards, the UK prime minister, Keir Starmer, released a statement saying that Ukraine’s western partners “will keep increasing the pressure on Russia, keep the military aid flowing to Ukraine and keep tightening the restrictions on Russia’s economy”.

    Undoubtedly, these measures would be more effective if they had Washington’s full buy-in – but they send a strong signal to both the Kremlin and the White House that Ukraine is not alone in its fight against Russia’s continuing aggression.

    Putin’s options

    Putin, meanwhile, may have time on his side in the short term – but he should take note of this. Russian manpower and firepower may dwarf that of Ukraine, but it would be no match for a Ukraine backed by such a coalition of the willing.

    Putin’s apparent plan to drag Trump into the minutiae of negotiating a comprehensive deal may eventually backfire in more ways than one. For a start, really detailed discussions will test the US president’s notoriously short attention span.

    But this will also buy time for Ukraine and its supporters to strengthen Kyiv’s position in future negotiations. And it will continue to strain – but not immediately break – Russia’s economy.

    For now, Trump’s efforts to end the war in Ukraine have stalled. He is attempting to broker a complex ceasefire deal that involves separate agreements with Kyiv and Moscow, pressure on Nato allies, and an attempt to drive a wedge between Russia and China. It’s not clear how this will succeed or indeed where it will end.

    The only certainty is that they are not bringing a just and stable peace for Ukraine any closer.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

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

    – ref. Trump’s phone call with Putin fails to deliver ceasefire – here’s what could happen next – https://theconversation.com/trumps-phone-call-with-putin-fails-to-deliver-ceasefire-heres-what-could-happen-next-252417

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UN Human Rights Council 58: UK Statement for Interactive Dialogue with the Group of Experts on Belarus

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 58: UK Statement for Interactive Dialogue with the Group of Experts on Belarus

    UK Statement for the Interactive Dialogue with the Group of Experts on Belarus. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.

    Thank you, Experts, for your report.

    We continue to condemn human rights violations and the systematic repression of fundamental freedoms in Belarus.

    We share your concern over the more than 1,200 political prisoners who are denied a fair trial, held in inhumane conditions, subject to ill-treatment, and denied adequate medical care. We acknowledge the pardoning of over 250 political prisoners since July 2024. However, arrests and political repression continue.

    The reported increase of digital surveillance in Belarus, which has further restricted civil society and freedom of expression in both online and physical spaces, is troubling. As your report notes, the regime’s repression extends beyond its own borders. The UK condemns reports of trials in absentia of Belarusian nationals.

    On 27 January, the UK imposed new sanctions on six individuals and three entities, targeting leaders of institutions responsible for serious human rights violations and companies in the Belarusian defence sector supporting Russia’s war of aggression in Ukraine.

    We stand with the Belarusian people and their right to live in a genuinely free and democratic environment, without fear or oppression.

    Experts, how can we best demonstrate solidarity with those facing trials in absentia?

    Updates to this page

    Published 19 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Over £4,900 a year for student carers

    Source: Scottish Government

    Extra money available to many in education.

    Carers in full and part-time education could be entitled to over £4,900 a year in financial support from Social Security Scotland.  

    It is estimated that there are over 30,000 students at college or university in Scotland providing unpaid care for a family member, friend or neighbour. Research from Carers Trust Scotland shows student carers are four times more likely to drop out of their studies with a key reason being financial struggles.  

    Together, Carer Support Payment and Carer’s Allowance Supplement could provide over £4,900 a year to unpaid carers. 

    Carer Support Payment replaces Carer’s Allowance in Scotland, which was delivered by the UK’s Department for Work and Pensions (DWP). Unlike its predecessor, Carer Support Payment is available to many student carers in full-time education.   

    Carer’s Allowance Supplement, only available in Scotland, is paid twice a year to people receiving Carer Support Payment or Carer’s Allowance. 
     
    Students aged 16, 17 or 18 may be able to get Young Carer Grant if they aren’t eligible for Carer Support Payment. 

    Speaking to student carers and staff at Edinburgh College today (Wednesday 19 March), Social Justice Secretary, Shirley-Anne Somerville, said:  

    “We worked with carers and support organisations in designing Carer Support Payment to ensure it worked better for the people who receive it. Extending Carer Support Payment to more carers in education is an example of doing just that. 

    “I recognise the challenges many students face juggling their studies with caring responsibilities and hope the increased support available provides additional financial security and helps them to complete their course.”  

    Anna Vogt, Assistant Principal Student Experience at Edinburgh College said:  

    “We are committed to supporting our student carers to be able to come to Edinburgh College and achieve their educational ambitions. We do this by individualising support for carers, engaging with carer organisations in our region and by designing systems that acknowledge our students have responsibilities and communities outside of college. 

    “Colleges change lives and we are pleased that this new benefit will support more carers to think about becoming a student at any institution across Scotland.” 

    Josh, a student at Edinburgh College, added: “The support from Edinburgh College has made a real difference to me and is very different from the support I received at school. It has been particularly helpful to be linked up with my local carer’s association – I didn’t know about them. Now I know about this new benefit, I’m going to explore a bit more about it.”

    Background 

    The £4,900 a year calculation is based on a carer receiving a full year entitlement for Carer Support Payment (52 weeks) and Carer’s Allowance Supplement (a payment in June and then in December) at the 2025-26 rates coming into effect from 1 April 2025.   

    Carers Trust Scotland works to transform the lives of unpaid carers. They estimate there are more than 30,000 students with caring responsibilities in Scotland. Student research report https://carers.org/downloads/resources-pdfs/young-adult-carers-at-college-and-university.pdf  

     Carer Support Payment is a payment of £81.90 a week (increasing to £83.30 from 1 April 2025) and is available to carers who are aged 16 or over and who provide unpaid care for 35 hours or more a week to someone who receives a qualifying disability benefit.  Carers need to earn £151 a week (increasing to £196 a week from 1 April 2025) or less after tax, National Insurance and certain expenses.  
    Carers in education who may be eligible include:      

    • Part time students – those who spend less than 21 hours a week in class or doing coursework for any course     
    • Students aged 20 and over and who study full time for any course     
    • Students aged 16-19, who study full time in advanced education at university or for a college course such as a Higher National Certificate or Higher National Diploma    
    • There are also some circumstances where students aged 16-19 studying over 21 hours a week in non-advanced education, such as studying for National Certificates and Scottish Highers, may also be eligible if they meet certain criteria. Find out more at   If you study – mygov.scot  

     Carer’s Allowance Supplement is an extra payment for eligible unpaid carers who are getting Carer Support Payment or Carer’s Allowance on two qualifying dates. The payment is made twice a year and is unique to Scotland. Each payment of Carer’s Allowance Supplement is £288.60 (increasing to £293.50 from 1 April 2025). It is paid automatically without the need to apply.    

     Young Carer Grant  is available for carers aged 16, 17 or 18 who provide support for an average of 16 hours a week to someone receiving a qualifying disability benefit. It is a yearly payment of £383.75 (increasing to £390.25 from 1 April 2025) and the money can be spent on whatever the young person wants.    

    Information on other support for carers, such as financial support, wellbeing support and short breaks from caring, can be found at Help if you’re a carer – mygov.scot   

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Godiva Festival tickets to go on sale this month

    Source: City of Coventry

    Tickets for Coventry’s Godiva Festival are to go on sale on Monday 31 March – and prices have been frozen at the same level as last year.

    The announcement means music lovers and families can enjoy an amazing three days of music and fun at affordable prices and ensures the Festival remains one of the best value-for-money events across the region.

    The 26th Festival will be held at the War Memorial Park over three days in the summer from Friday 4 – Sunday 6 July 2025.

    Tickets will be on sale from 9am on Monday 31 March and can be purchased via the Godiva Festival website.

    Details of the eagerly awaited line-up will be announced soon, along with everything festival-goers need to plan a fantastic weekend in the city.

    As usual, there will be a diverse line-up of musical acts and attractions, with food stalls, exhibitions, and family-friendly activities, making it the perfect summer outing for the whole family.

    Coventry City Council, organisers of the annual event, have always kept ticket prices as low as possible to ensure Godiva remains a fun family event that is open and accessible to everyone.

    Cllr Abdul Salam Khan, Deputy Leader of Coventry City Council and Cabinet Member for Events, said: “We are delighted that we have been able to hold ticket prices at the same level as in 2024 and keep our Godiva Festival an event that everyone can enjoy.

    “Every year we see thousands of people from the city and beyond enjoy an amazing three days of top music acts, local talent and family fun, and I’m already looking forward to this year and another incredible line-up.

    “Also this year we have extra security measures and new entry conditions designed to help people feel at ease and able to enjoy everything that is on offer.

    “The prices really do offer great value for money and I would advise everyone to book quickly and make sure they don’t miss out.”

    Early Bird prices mean tickets to this year’s festival can be bought for as little as £26 for a Standard Weekend Ticket and £79 for a Family Weekend Ticket which covers two adults and two children/teens.

    News of the ticket price freeze comes with the announcement of increased security measures and a change of entry conditions.

    This year, the minimum age for teenagers attending without an accompanying adult will rise from 16 to 18 years, and there must also be one responsible adult aged 21 or over for every two accompanied minors instead of the previous number of four.

    A new ‘Teen Ticket’ category has been introduced for those aged from 13-17 at a lower rate than an adult 18+ ticket, and a child’s ticket for those aged five to 12 years, which is at a lower cost than last year.

    Family ticket prices will allow for any combination of teens and children at no extra cost and a new single parent family ticket is being introduced. In all cases, under 18s must be accompanied by a responsible adult aged 21 or above.

    There will also be increased security around the perimeter of the Festival site, and those seen not wearing a wristband will be asked to leave.

    Last year’s super concession rate ticket for validated Go CV+ members to purchase will also remain this year. The Go CV+ Super Concession Weekend Ticket will be available for just £15.50 in the Early Bird category before gradually increasing once Early Bird tickets have sold out. Go CV+ Super Concession Day Tickets cost £6.50 for a Friday ticket, £7 for Saturday and just £4 to attend on Sunday when bought at Early Bird prices. Go CV+ members can buy a maximum of four tickets per person at super concession prices.

    Those eligible for Go CV+ must live in Coventry and either be in receipt of a qualifying benefit, a carer registered with Carers Trust Heart of England, a Coventry City Council foster carer, a student with an NUS card, a young person aged 16 – 19 years old in fulltime education or a resident with asylum seeker status.

    Cllr Kamran Caan, Cabinet Member for Public Health and Sport, said: “The introduction of the Go CV+ offer last year really helped many residents and families who might otherwise struggle with finances to attend and enjoy the amazing atmosphere of Godiva.

    “In line with our city’s beliefs of equality and giving a little extra help to those who need it, we are again offering some support to ensure people such as carers, students, those on benefit and those newly arrived in our city can enjoy the weekend at a price they can afford.

    “Please make sure your Go CV+ accounts are validated and you’re ready to take advantage of this great offer when tickets go on sale.”

    To find out more about Go CV+ and to register, visit the Go CV website. Go CV+ accounts must be validated in order to access these ticket prices.

    Full admission terms and conditions can be found on the Godiva Festival website.

    View the full pricing structure on the Godiva Festival Tickets page.

    To keep up to date with all the latest news and announcements, head to the Godiva Festival website, sign up for the Godiva Festival newsletter or follow us on Facebook, Twitter, Instagram and TikTok.

    Godiva Festival is brought to you by Coventry City Council.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: RBI Bulletin – March 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released the March 2025 issue of its monthly Bulletin. The Bulletin includes four speeches, five articles and current statistics.

    The five articles are: I. State of the Economy; II. Spatial Distribution of Monsoon and Agricultural Production; III. Changing Dynamics of India’s Remittances – Insights from the Sixth Round of India’s Remittances Survey; IV. Decoupling Economic Growth from Emissions: A LMDI Decomposition Analysis; and V. Market Access and IMF Arrangements: Evidence from Across the Globe.

    I. State of the Economy

    The resilience of the global economy is being tested by escalating trade tensions and a heightened wave of uncertainty around the scope, timing, and intensity of tariffs. While engendering heightened volatility in global financial markets, these have also caused apprehensions about the slowdown in global growth. Amidst these challenges, the Indian economy continues to demonstrate resilience as evident in the robust performance of the agriculture sector and improving consumption. The reverberations of a tumultuous external environment, however, are being reflected in sustained foreign portfolio outflows. India’s macroeconomic strength to face these challenges is bolstered by a decline in headline CPI inflation to a seven-month low of 3.6 per cent in February 2025 on account of a further correction in food prices.

    II. Spatial Distribution of Monsoon and Agricultural Production

    By Abhinav Narayanan and Harendra Kumar Behera

    This article analyses the impact of spatial variation of rainfall across districts on production of Kharif crops. It also examines how deficient or excess rainfall during specific periods impact the production of specific crops.

    Highlights:

    • Extreme weather events such as excessive or insufficient rainfall cause significant crop damages leading to disruptions in production resulting in reduced yields or lower quality of produce.

    • The timing of extreme weather events is crucial, as crop production cycles vary.

    • Insufficient rainfall in the months of June and July negatively impacts cereal and pulses production, while oilseeds are particularly vulnerable to excessive rainfall during the harvesting period (August-September).

    III. Changing Dynamics of India’s Remittances – Insights from the Sixth Round of India’s Remittances Survey

    By Dhirendra Gajbhiye, Sujata Kundu, Alisha George, Omkar Vinherkar, Yusra Anees, Jithin Baby

    This article analyses the results of the sixth round of India’s remittances survey conducted for 2023-24. It captures various dimensions of inward remittances to India – country-wise source of remittances, state-wise destination of remittances, transaction-wise size of remittances, prevalent mode of transmission, cost of sending remittances and share of remittances transmitted through the digital modes vis-à-vis cash.

    Highlights:

    • India’s inward remittances have more than doubled during 2010-11 to 2023-24 and have been a stable source of external financing during this period. Following a pandemic-led contraction during 2020-21, remittances to India in the post pandemic period recorded a significant surge.

    • The survey results indicate that the share of inward remittances from advanced economies has risen, surpassing the share of Gulf economies in 2023-24, reflecting a shift in migration pattern towards skilled Indian diaspora.

    • Maharashtra, followed by Kerala and Tamil Nadu, continue to be the dominant recipient of remittances.

    • The cost of sending remittances to India has moderated significantly, driven by digitalisation, but remains higher than the SDG target of 3 per cent.

    • Additionally, on an average, 73.5 per cent of total remittances received by the money transfer operators in 2023-24 were through digital mode.

    • Furthermore, fintech companies offer affordable cross-border remittance services, fostering competition among different remittance service providers.

    IV. Decoupling Economic Growth from Emissions: A LMDI Decomposition Analysis

    By Madhuresh Kumar, Shobhit Goel, Manu Sharma, Muskan Garg

    This article examines the drivers behind India’s CO₂ emissions growth from 2012 to 2022 using the Logarithmic Mean Divisia Index (LMDI) decomposition method. It breaks down total emissions into key contributing factors, including the impact of GDP growth (activity effect), improvements in energy efficiency (energy intensity effect), shifts in the economic structure (structural effect), changes in the composition of fuel (fuel mix effect), and the growing share of renewable energy in electricity generation, which reduces the carbon intensity of electricity (emission factor effect).

    Highlights:

    • During 2012-22, energy-related CO2 emissions increased by 706 million tons. The main contributor was economic growth (+1073 Mt), with a smaller impact from the change in fuel mix of the economy (+78 Mt). However, gains in energy efficiency (-399 Mt), structural changes (-15 Mt), and improvements in emission intensity of electricity due to increased use of renewables (-30 Mt) helped curb emissions.

    • India’s energy efficiency improved by 1.9 per cent annually, exceeding the global average.

    • India’s growth decoupled from emissions, with a decoupling elasticity of 0.59, comparable to other lower-middle-income countries.

    • Renewables have had a small but significant impact on emission reduction over the past decade, with solar and wind accounting for 2.1 percent of total primary energy in 2022-23.

    • Going ahead, the emission factor effect is expected to play a more prominent role as renewables increasingly replace fossil fuels and green hydrogen usage expands in industries.

    V. Market Access and IMF Arrangements: Evidence from Across the Globe

    By Shruti Joshi and PSS Vidyasagar

    The article analyses loans availed by various countries from the International Monetary Fund (IMF) during 2000-2023 and finds a negative relation between market access and dependence on IMF’s loan for those countries which resorted to IMF loans.

    Highlights:

    • During 2000-2023, dependence of Emerging Market and Developing Economies (EMDEs) on IMF resources increased on account of their limited access to international financial markets and alternate sources of funding. Several fast growing large EMDEs, including India and China, however, did not have to take recourse to the IMF loans.

    • During the crisis periods, especially the Global Financial Crisis and Euro-Zone Crisis, some Advanced Economies also resorted to IMF loans due to their reduced market access on account of sovereign rating downgrades.

    • Among countries that resorted to IMF loans, those which faced a larger country risk premium availed larger funding.

    • Access to alternative sources of funding such as Regional Financing Arrangements (RFAs) and swap lines reduces the dependence on IMF loans.

    The views expressed in the Bulletin articles are of the authors and do not represent the views of the Reserve Bank of India.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2418

    MIL OSI Economics –

  • MIL-OSI Africa: Deputy President stresses importance of coordinated approach to challenges

    Source: South Africa News Agency

    Deputy President Paul Mashatile has stressed the need for a coordinated approach to peacebuilding and economic resilience.

    This as he highlighted that the conflicts between Russia and Ukraine and conflicts in the eastern Democratic Republic of Congo, Sudan, in the Sahel, and in Gaza, continue to exert a heavy human toll while heightening global insecurity. 

    The Deputy President was speaking at the United Nations University (UNU) in Tokyo, Japan on Tuesday. 

    The UNU, in partnership with the Embassy of South Africa in Japan, is co-hosting a symposium exploring South Africa’s G20 Presidency and steps to ensure solidarity, equality and sustainability for all. 

    Touching on the deepening conflict and instability across Africa and the world, the Deputy President said this requires coordinated preventive action including dedicated intervention on peace building that is programmatic in nature.

    “We are encouraged by the partnership between the United Nations University and the University of South Africa (UNISA) in cooperation with other relevant partner organisations to co-design and co-deliver required capacity building programmes for African leaders and mediators for resolving conflicts and blazing a path towards achieving peace, security and prosperity, “the Deputy President explained.

    He further emphasised the urgent need for comprehensive, African-centred peace-building research and training programmes that span throughout Africa to address the urgent demand for capacity for conflict management and resolution, as well as society reconstruction.

    G20 Presidency

    “In our G20 Presidency, South Africa will continue to advocate for diplomatic solutions. Inclusive dialogue is the foremost guarantor of sustainable peace.
    “South Africa has shown a firm resolve in its foreign policy by promoting principles of justice, solidarity, equality, peace, and respect, underpinned by its commitment to human dignity and leaving no one behind,” he said. 

    This was the reason South Africa has placed solidarity, equality, sustainability at the centre of its G20 Presidency.

    As part of South Africa’s G20 intention to place Africa’s development at the top of the agenda, Mashatile outlined four key priorities which are strengthening disaster resilience, ensuring debt sustainability for developing economies, mobilising finance for a just energy transition, and harnessing critical minerals for sustainable growth. 

    “Our hosting of the G20 Finance Ministers and Central Bank Governors Meeting, and the Business 20 provided an opportunity for us to promote South Africa and Africa as a business and investment destination and for the country to take the lead on providing solutions to global economic challenges,” he said. 

    He emphasised the country’s commitment to driving economic reforms, increasing investor confidence, and enhancing structural efficiencies in energy, water, and transport sectors.

    “We believe that addressing structural concerns is essential to maintaining investor confidence and ensuring long-term economic stability. It is only by accelerating structural reforms and harnessing the power of the private sector that the country can sustain economic momentum and attract further foreign investment.

    “As the South African government, we are implementing extensive structural, policy, and regulatory reforms to enhance the economy’s performance,” he said. 

    AI role in shaping Africa’s economic future

    The Deputy President also emphasised the role of artificial intelligence (AI) and digital transformation in shaping Africa’s economic future, calling for greater collaboration between African institutions and international organisations. 

    Quoting Professor Tshilidzi Marwala, he noted the need for South Africa to embrace AI while also ensuring ethical considerations remain central to its deployment. 

    He urged institutions like UNU to partner with African universities to foster digital skills development and AI-driven innovation.

    As the G20 Presidency has shifted to South Africa, the Deputy President said that AI has emerged as a key area of focus.

    Through the G20 Presidency, he said the country aims to harness AI to advance the Sustainable Development Goals agenda and address global challenges.

    “We encourage the United Nations University to work alongside Africa in the development of AI, which has the potential to considerably boost the continent’s economies. You must cooperate with additional universities in South Africa and throughout Africa to help overcome digital barriers, promote equality, and support inclusive sustainable development,” he said. 

    Mashatile added that African governments are also recognising the importance of the digital economy, which is heavily influenced by artificial intelligence. He noted that the digital economy and AI are becoming more important drivers of economic and social value creation throughout the world. 

    “We are investing in digital infrastructure, skills development, and entrepreneurship to assist Africa’s digital economy to expand,” he said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: SA condemns Israeli airstrikes on Gaza

    Source: South Africa News Agency

    South Africa has condemned the extensive Israeli airstrikes carried out across Gaza dron Tuesday, resulting in the deaths of over 350 Palestinians. 

    The deadly airstrikes occurred following a failure to implement the second stage of the peace agreement with Israel, despite ongoing negotiations aimed at ensuring the ceasefire remains in effect.

    The fatal attacks were reportedly authorised by the Israeli leadership more than a week ago. 

    According to the Department of International Relations and Cooperation (DIRCO), this raises concerns about the commitment to the permanent ceasefire outlined in the plan negotiated by the United States, Egypt and Qatar.

    The Palestinian Health Ministry said many of those killed were children and several victims remain under the rubble.  

    Reports suggest that airstrikes were concentrated on heavily built-up neighbourhoods, makeshift schools and residential buildings where people have been sheltering, which is a “blatant violation of international law, including international humanitarian law”.

    “South Africa is gravely concerned by the military onslaught and the fact that millions of people in Gaza are facing severe food and water shortages, as Israel continues to block aid and cut off energy supplies to the strip,” DIRCO said in a statement. 

    Meanwhile, the department said Israel, which has enforced a total blockade of Gaza, has now issued new forced displacement orders for several areas. 

    The department said the provisional orders issued by the International Court of Justice (ICJ) oblige Israel to take all measures within its power to prevent acts of genocide, ensure humanitarian assistance reaches Gaza, and preserve evidence related to alleged genocide.

    The United Nations’ Humanitarian Coordinator for the Occupied Palestinian Territory, Muhannad Hadi, has urged that the ceasefire in Gaza be immediately reinstated. He called the waves of airstrikes across the Gaza Strip since the early hours of the morning “unconscionable.”

    South Africa has also condemned the four targeted Israeli military strikes launched against southern Syria overnight, which killed at least two and wounded 19 others on the outskirts of the southern Syrian province of Deraa.

    “The Syrian Observatory for Human Rights said Israel targeted a military site previously used by former President Bashar al-Assad’s forces, but which is now used by the army of Syria’s transitional government. 

    “Israel’s airstrikes and previous statements that it does not want any Syrian military presence in the south of Syria is a violation of Syria’s sovereignty and territorial integrity,” DIRCO said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: Western Communities Foundation Announces New Board Chair, President, and Secretary-Treasurer

    Source: GlobeNewswire (MIL-OSI)

    HIGH RIVER, Alberta, March 19, 2025 (GLOBE NEWSWIRE) — Western Communities Foundation is pleased to announce some leadership changes following the retirement of Kenny Nicholls, Western’s previous President and CEO and Foundation Board Chair. Grant Ostir, Chief Executive Officer, Western Financial Group, has been appointed Foundation President. Nancy Green-Bolton, Western’s Chief Operating Officer, will take on the role of Board Chair. Nancy previously held the Board position as Secretary and Treasurer, a role which will now be fulfilled by Jonathan Hoey, Western’s Chief Underwriting Officer.

    As Western Financial Group’s CEO, Grant leads with a deep commitment to purpose-driven leadership, ensuring both people and performance thrive, for the business and our local communities. At the helm of the company’s strategy and vision, Grant champions a culture where care meets operational excellence, a philosophy that will continue with his new Foundation role.

    “Western has a long-standing commitment to providing meaningful assistance to our people, our customers, partners and the communities in which we live and work,” said Grant. “I’m excited to build on that legacy, work with our communities and partners to create new opportunities for growth and positive impact from coast to coast.”

    As Western’s longest-standing board member, Nancy has been involved in the Communities Foundation Board of Directors since 2017, and joined Western Financial Group in 2007. In her role as Chief Operating Officer, she oversees all aspects of Western’s operations in partnership with our CEO Grant Ostir. Her work at the helm of the foundation will only help to strengthen our ability to continue reaching communities and groups in meaningful ways.

    “Over the years, I’ve seen first-hand the remarkable ways in which our people have given back to our communities, through all departments and geographies at Western, we live and breathe care at the core of all we do,” said Nancy. “It’s an honour to continue my involvement in this meaningful work and to lead the foundation to help even more communities and groups where we work and live.”

    As a caring first company, Western Financial Group is committed to not only supporting staff, customers, and partners, but also the communities in which we live, work and play. Founded in 2001, Western Communities Foundation has granted over $9 million to its local communities across Canada.

    “Giving back isn’t a corporate strategy for us, it’s part of our DNA,” said Michelle Mak, Communities Foundation Director. “We’re really pleased to be working with Grant and Nancy who are exceptionally passionate about caring for our communities. They will bring crucial expertise to help the Foundation reach even more communities with big impact.”

    To learn more about the Foundation, visit westernfinancialgroup.ca/Foundation-Who-We-Are.

    Western Financial Group Communities Foundation
    Founded in 2001, the Western Financial Group Communities Foundation serves to give back to the communities where Western employees live and work and play, and foster employee pride and engagement. The Foundation’s core donation programs include community Infrastructure Grants, the Western Inspirational Awards for graduating high school students, and the Matching Grants Program. Since its inception, the Western Communities Foundation has granted more than $9 million to support local communities.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8df1651-447e-4992-bbcf-b0aa68621722

    The MIL Network –

  • MIL-OSI: SINTX Technologies Announces Publication of Study Confirming Superior Performance of Silicon Nitride in Cervical Spine Fusion

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, Utah, March 19, 2025 (GLOBE NEWSWIRE) — SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), a leader in advanced ceramics for medical device and technical applications, announced today the publication of a new peer-reviewed study demonstrating the biomechanical advantages of silicon nitride in anterior cervical discectomy and fusion (ACDF) procedures.

    The study, titled Biomechanical Evaluation of Cervical Interbody Fusion Cages for Anterior Cervical Discectomy and Fusion With Variations in Morphology, was conducted by researchers at SRM Institute of Science and Technology in collaboration with SINTX Technologies. Using finite element analysis, the study compared various cage designs and materials used in cervical spine fusion procedures. The results highlight silicon nitride’s superior biomechanical performance, particularly in reducing implant subsidence, improving load distribution, and enhancing spinal stability.

    Key Commercial Findings for Spinal Medical Devices

    The findings of this study complement key conclusions from previous studies of the silicon nitride biomaterial and reinforce the unique advantages of silicon nitride over traditional spinal implant biomaterials like PEEK (polyetheretherketone) and titanium, including:

    • Reduced Cage Subsidence – Silicon nitride exhibited exceptional load-bearing capability, minimizing the risk of implant subsidence, a common complication in spinal fusion surgery.
    • Improved Biomechanical Stability – The study confirmed that silicon nitride interbody fusion cages provide enhanced stress distribution and reduce the risk of adjacent segment degeneration.
    • Superior Osseointegration – Unlike PEEK, which is biologically inert and can induce formation of scar tissue at the implant interface, silicon nitride promotes stronger bone fusion due to its osteoconductive and antimicrobial properties.
    • Enhanced Imaging and Safety – Unlike metal implants, silicon nitride offers radiolucency, enabling better post-surgical imaging and reducing artifacts in MRI and CT scans.

    Implications for the Spinal Implant Market

    “This study provides more compelling evidence of the biomechanical and clinical benefits of silicon nitride for spinal fusion applications,” said Eric Olson, CEO of SINTX Technologies. “As the demand for advanced spinal implants grows, we believe our proprietary silicon nitride biomaterial presents a transformative solution for improving long-term patient outcomes while reducing surgical complications.”

    With global spinal fusion procedures expected to surpass $10 billion annually, the integration of silicon nitride into commercial spinal implant systems represents a significant market opportunity for SINTX. The company continues to engage with strategic partners to drive adoption of silicon nitride-based medical devices, including cervical interbody fusion cages and other orthopedic applications.

    For more information, please visit www.sintx.com

    About SINTX Technologies, Inc.

    Located in Salt Lake City, Utah, SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products have been implanted in humans since 2008. Over the past several years, SINTX has utilized strategic acquisitions and alliances to enter into new markets. For more information on SINTX Technologies or its materials platform, visit www.sintx.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) that are subject to a number of risks and uncertainties. Forward-looking statements can be identified by words such as: “anticipate,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods.

    Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations and beliefs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, difficulty in commercializing ceramic technologies and development of new product opportunities. A discussion of other risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements can be found in SINTX’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 27, 2024, and in SINTX’s other filings with the SEC. SINTX undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this report, except as required by law.

    Business and Media Inquiries for SINTX:
    SINTX Technologies
    801.839.3502
    IR@sintx.com

    The MIL Network –

  • MIL-OSI: SpyCloud’s 2025 Identity Exposure Report Reveals Surging Identity-Based Threats as Stolen Identity Records Increase 22% from Last Year

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 19, 2025 (GLOBE NEWSWIRE) — SpyCloud, the leader in identity threat protection, today released its 2025 SpyCloud Annual Identity Exposure Report, uncovering the staggering scale of digital identity sprawl, the growing risks organizations face, and actionable insights to combat cyber threats before they escalate.

    SpyCloud has recaptured 53.3 billion distinct identity records, a 22% increase from 2023, underscoring the increasing prevalence of stolen data such as credentials and personally identifiable information (PII) circulating the darknet. These identity records, consisting of harvested employee, consumer, and supply chain data, are the fuel that power cyberattacks like ransomware, account takeover, and fraud – nearly 80% of breaches last year involved the use of stolen credentials. 

    Despite this surge in identity-based threats, many organizations remain unaware of the massive breadth of digital identity data stolen from users, traded among cybercriminals, and leveraged to infiltrate organizations.

    “Traditional security models focus on an isolated exposure data point, like a single stolen password or breached email, without accounting for the full picture of an individual’s digital footprint and other potential exposures,” said Damon Fleury, Chief Product Officer at SpyCloud. “But modern threats are far more complex. At SpyCloud, we’ve pioneered a holistic approach to identity security, mapping exposures across breaches, malware infections, phishing campaigns, and combolists to reveal the true scale of risk from compromised users. This shift is essential for defenders to proactively mitigate threats from stolen identity data before they escalate into full-scale cyberattacks.”

    Key Findings from the 2025 Annual Identity Exposure Report:

    The True Scale of Identity Exposure is Greater Than Previously Estimated

    By applying proprietary holistic identity matching, SpyCloud researchers discovered that the actual scale of exposure is, on average, more than twelve times larger than previously estimated – providing security teams with a clearer, more actionable picture of identity risk:

    • 146 identity records per corporate user → compared to just 11 using traditional methods
    • 141 stolen credential pairs per user → versus just 7 with legacy visibility
    • 74% of recaptured consumer records include location data, increasing risks of fraud and identity theft

    With a holistic approach to identity security, enterprises can move beyond isolated credential leaks and better understand their interconnected exposures – empowering them to act before an attack occurs.

    Infostealer Malware: The Primary Driver of Modern Cybercrime

    Infostealer malware – stealthy, highly efficient tools that extract user information, browser cookies, and system details from infected devices – has emerged as one of the most persistent and dangerous threats to enterprise security. SpyCloud recaptures data from more than 75 different malware families including LummaC2, Redline Stealer, and Vidar. This year’s research into the recaptured data from those families found that:

    • About 1 in 2 of corporate users were exposed through infostealer malware in the past year through a personal or corporate device
    • 7 million stolen credentials for third-party applications were recaptured—a 48% increase from last year. Trending third-party application targets include:
      • 895,802 stolen credentials for enterprise AI tools, exposing sensitive business insights and proprietary data
      • 159,313 stolen credentials from password managers, undermining critical security layers
    • 17 billion stolen cookies were recaptured, enabling attackers to side-step multi-factor authentication (MFA) and hijack active sessions

    Infostealers’ role in identity exposures has real, lasting effects on businesses and individuals. Last year, nearly one-third of companies that suffered a ransomware attack had previously experienced an infostealer infection.

    Phishing: A Growing Threat Fueled by AI and Phishing-as-a-Service (PhaaS)

    Phishing tactics evolved in 2024, becoming more sophisticated with AI-driven campaigns and turnkey PhaaS platforms. Attackers increasingly targeted high-value data, including personal and corporate credentials, financial accounts, and session cookies. SpyCloud’s 2025 research reveals:

    • 97% of recaptured phished data contains email addresses
    • 64% contains IP addresses
    • 51% contains city or postal codes, increasing risks of location-based fraud

    PII Exposure Surges, Fueling Identity Fraud

    The exposure of PII reached 44.8 billion recaptured records in 2024 – a 39% increase from the previous year – due in large part to breaches such as the Mother of All Breaches (MOAB) and the National Public Data Breach. Both exploding the available PII circulating the criminal underground and still providing cybercriminals with the raw materials to commit identity fraud and financial crimes. Key exposed PII data points include:

    • 3.05 billion Social Security and national ID numbers
    • 4.4 billion full names
    • 2.8 billion phone numbers
    • 42.97 million passport and driver’s license numbers
    • 36.97 million credit card numbers

    Cybercriminals are also capitalizing on sprawling digital identities and expanding their targets to include other forms of credentials. SpyCloud also recaptured 33.1 million exposed API keys and 147,132 compromised cryptowallet addresses, highlighting critical vulnerabilities in modern digital ecosystems.

    Weak Password Practices Continue to Undermine Security

    Despite growing awareness of identity threats, weak password practices remain a constant source of risk, making users easy targets for automated credential stuffing and account takeover attacks:

    • 3.1 billion exposed passwords were recaptured – a 125% increase from last year
    • 70% of users exposed in breaches last year reused previously-exposed passwords across multiple accounts, up from 61% in 2023
    • Most commonly exposed passwords include: “123456,” “Admin,” “Qwerty”
    • Pop culture continues to drive popular password choices. While these passwords are personal to the users, they are predictable and continue to reign as a top entry point for threat actors.
      • Almost 3 billion referenced the fall season
      • 7.5 million referenced major international events in tennis 
      • Over 7 million referenced cats 
      • Passwords influenced by video games surged, including passwords related to The Legend of Zelda (2 million), Super Mario Brothers (almost 1.5 million) and Fortnite (almost 1 million)
      • Passwords influenced by the year’s hottest artists such as Taylor Swift (1.5 million) and Charli XCX (295,000) were also common

    Looking Ahead: Proactive Identity Protection is Critical

    As identity threats continue to evolve, organizations must adopt a proactive, holistic approach to identity security. Defending against cybercrime requires continuous monitoring for dark web identity exposures, rapid and automated remediation of stolen identity data, and enhanced security measures to combat emerging threats.

    “The rise of infostealer malware and ever-evolving phishing attacks created a surge in the theft of sensitive identity data, but the size and scale of breaches like MOAB and NPD demonstrate traditional attack methods continue to be dangerous,” said Trevor Hilligoss, Senior Vice President of Security Research, SpyCloud Labs at SpyCloud. “In an era where identity data is cybercriminals’ most valuable currency, organizations must think beyond traditional security perimeters and leverage intelligence from the criminal underground to disrupt cybercrime before it strikes.”

    Read the full 2025 SpyCloud Identity Exposure Report here.

    About SpyCloud

    SpyCloud transforms recaptured darknet data to disrupt cybercrime. Its automated holistic identity threat protection solutions leverage advanced analytics to proactively prevent ransomware and account takeover, safeguard employee and consumer accounts, and accelerate cybercrime investigations. SpyCloud’s data from breaches, malware-infected devices, and successful phishes also powers many popular dark web monitoring and identity theft protection offerings. Customers include seven of the Fortune 10, along with hundreds of global enterprises, mid-sized companies, and government agencies worldwide. Headquartered in Austin, TX, SpyCloud is home to more than 200 cybersecurity experts whose mission is to protect businesses and consumers from the stolen identity data criminals are using to target them now.

    To learn more and see insights, users can visit spycloud.com.

    Contact:
    Emily Brown
    REQ on behalf of SpyCloud
    spycloud@req.co

    The MIL Network –

  • MIL-OSI: Coralogix Leverages Aporia Acquisition to Deliver True AI Observability, Detecting Hallucinations, Data Leakage, Toxicity and More

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, March 19, 2025 (GLOBE NEWSWIRE) — Coralogix, the leading full-stack observability platform, today launched its AI Center, which empowers organizations with real-time visibility into all of their AI applications. By delivering comprehensive, real-time insights into AI performance, quality, security, and governance within a single platform, the AI Center empowers businesses to accelerate AI adoption and manage AI agents with confidence.

    According to the National Institute of Standards and Technology (NIST), AI applications require rigorous oversight, as inadequate management can lead to unforeseen or inequitable outcomes. Existing AI observability approaches fall short by focusing on performance vs. other attributes that impact effective usage.

    Coralogix tackles this issue by observing with customizable evaluators that address the “grey areas,” i.e. when AI appears to perform correctly, but has issues related to its responses. Unlike other vendors, Coralogix reviews the content of the user and the AI to determine whether, for example, there is a chance that an exchange contains toxicity, the AI is hallucinating, or a bad actor is trying to breach the chatbot to steal customer data.

    With this addition, Coralogix is now the first cross-stack observability platform, transforming how businesses analyze their software, security, and AI systems. The company’s unique ability to analyze data in real-time as it’s ingested provides businesses with real-time monitoring, advanced analytics, and incident management, all while significantly reducing costs and time-to-insight.

    “AI is not just another technology layer; it’s a distinct stack with its own complexities and risks,” said Ariel Assaraf, CEO of Coralogix. “Our AI Center delivers real-time transparency into every aspect of that stack, ensuring organizations can monitor, troubleshoot, and secure their AI initiatives before minor errors become major crises. This launch represents a significant step forward in our mission to provide the most advanced cross-stack observability platform imaginable.”

    With over 2,000 enterprise customers globally, Coralogix has long led observability innovation. In December 2024, the company acquired Aporia, a leading provider of AI observability and guardrails. That acquisition fueled the rapid development of advanced AI solutions, culminating in today’s launch.

    Coralogix’s AI Center Provides:

    • AI Evaluation Engine: Allows users to evaluate AI applications for quality, correctness, security and compliance. Moreover, they can tailor specialized evaluators for each AI use case. The evaluators actively assess each interaction, scanning every prompt and response for potential risks or quality issues.
    • AI-SPM (Security Posture Management): Provides real-time, dedicated monitoring of the security and performance of AI agents across an organization. Its dashboards highlight risks such as prompt injections, data leaks, and PII leakage, allowing teams to pinpoint and address breaches or security risks.
    • Complete User Journey & Cost Tracking: Provides full visibility into user interactions, from conversation histories and logins to token usage. This granular tracking enables teams to pinpoint suspicious resource consumption, detect cost harvesting attempts, and optimize budgets without compromising performance.
    • Performance Metrics: Delivers in-depth insights into AI agent performance. It detects issues like poor response accuracy, latency spikes, and malicious user inputs, enabling teams to resolve underperforming agents before they impact the user experience. By focusing on AI-specific metrics, organizations can ensure a seamless, high-quality AI environment.

    “The launch of our AI Center unlocks a significant barrier faced by many AI teams – crossing the chasm from pilot to production,” commented Liran Hason, VP of AI, Coralogix and previously CEO of Aporia. “Having a centralized place to observe and manage all your AI applications for performance, quality and security is the key missing piece to launching AI apps safely.”

    “Acquiring Aporia enabled us to rapidly deliver real-time AI observability and establish our new AI Research Center,” said Yoni Farin, CTO and Co-founder of Coralogix. “This expansion goes beyond observability; we’re investing in top-tier talent to build the next generation of AI-driven solutions for our customers worldwide.”

    About Coralogix

    Coralogix is a modern, cross-stack observability platform that enables businesses to monitor and manage data in real time, providing instant insights without the need for complex storage solutions. The platform supports application performance monitoring (APM), security information and event management (SIEM), real user monitoring (RUM), and infrastructure monitoring, offering complete visibility into AI performance, security, and governance in a single solution. Coralogix offers a simple pricing model based on data volume, along with world-class support that ensures rapid response times and swift resolutions.

    Following the acquisition of Aporia in December 2024, Coralogix expanded into AI observability, giving businesses the ability to monitor and govern generative AI models with full transparency. To learn more about how Coralogix can help your business, visit www.coralogix.com.

    PR Contact

    Mark Prindle

    mark.prindle@fusionpr.com

    The MIL Network –

  • MIL-OSI Africa: Mashatile to lead official World TB Day and National End TB campaign

    Source: South Africa News Agency

    The Chairperson of the South African National AIDS Council (SANAC), Deputy President Paul Mashatile, will deliver the keynote address at the national World TB Day commemorative event on Monday, 24 March 2025. 

    World TB Day is commemorated annually on the 24th of March to raise public awareness about the global epidemic of tuberculosis (TB) and highlight efforts to eliminate the disease. 

    The day is also designated to highlight the devastating health, social and economic impact of TB. 

    During the event on Monday, the Deputy President will also launch the National End TB Campaign at the Ugu Sports and Leisure Centre in Gamalakhe Township, Ugu District, KwaZulu-Natal.

    According to the Presidency, South Africa is one of the countries most affected by TB and remains the leading cause of death in the country, claiming approximately 56 000 lives each year, with 54% of these deaths among people living with HIV.

    This year’s official country theme for World TB Day is “Yes! You and I Can End TB – Commit, Invest, Deliver”.

    “This is a clarion call for leaders to champion TB efforts in their respective constituencies and encourage individual action from all South Africans to contribute to the national effort against TB.“

    The Deputy President’s Office said the significance of this year’s commemoration will be marked by the launch of the National End TB campaign designed to substantially reduce TB incidence and mortality in South Africa by 2035. 

    This campaign will be carried out in phases, beginning with a focus on case finding and linking patients to care in the year 2025/26.

    The campaign aims to diagnose 250 000 new TB cases by 2025/26 through targeted testing of five million people. 

    This will be accomplished by implementing Accelerated Targeted Universal TB Testing (TUTT) to reach individuals living with HIV and household contacts with confirmed TB cases.

    The Deputy President will be joined by the Minister of Health Dr Aaron Motsoaledi, Premier of KwaZulu-Natal Thamsanqa Ntuli, SANAC Civil Society Chairperson Solly Nduku, Chairperson of the SANAC Private Sector Forum Mpumi Zikalala, and SANAC CEO Dr Thembi Xulu. 

    They will also be joined by representatives from development partners inclusive of the United Nations agencies, United States government agencies, research entities, civil society movements and the private sector. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI: GigaOm Recognizes Infinidat as a Leader and a Fast Mover in Storage as a Service

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., March 19, 2025 (GLOBE NEWSWIRE) — Infinidat, a leading provider of enterprise storage solutions, today announced that GigaOm, a leading IT analyst firm, has recognized Infinidat as a Leader and a Fast Mover in the 2025 GigaOm Sonar Report for Storage as a Service (STaaS). GigaOm analysts cited Infinidat’s STaaS platform as “an excellent choice for enterprises requiring high-performance storage for mission-critical applications.” Details are available in the 2025 GigaOm Sonar Report for Storage as a Service.

    “It’s outstanding that Infinidat continues to be recognized for our innovation and our feature-rich platform for Storage as a Service,” said Eric Herzog, CMO at Infinidat. “We’re pleased that GigaOm’s independent analysis of Infinidat recognizes us as a Leader. Infinidat’s high performance, scalability, 100% availability and cyber storage resilience capabilities make our Storage as a Service platform ideal for enterprises requiring robust storage solutions capable of delivering reliable performance, real-time scaling, and cyber protection in large-scale operations. Infinidat offers an extremely competitive STaaS solution that is worthy of being in every conversation about storage services in high-end enterprises.”

    “Organizations with dynamic workloads will benefit from Infinidat’s scalability and AI-driven optimization,” said GigaOm Analyst James Brown. “Infinidat is particularly well suited for industries with high-performance storage needs, such as financial services, healthcare, and technology. Its ultra-low latency, robust reliability, cyber storage resilience, and cyber recovery capabilities make it ideal for real-time applications, including trading platforms, AI/ML workloads, and analytics. Enterprises with a focus on data security and regulatory compliance will appreciate Infinidat’s comprehensive cyber protection features, ensuring sensitive information is safeguarded at all times.”

    According to GigaOm, “Storage as a Service (STaaS) transforms how companies consume storage infrastructure by combining the elasticity and flexibility of cloud consumption models with the control and performance of on-premises solutions.” The analyst firm also states that STaaS is “a vital driver of digital transformation,” as more enterprises increasingly realize the benefits of hybrid approaches. STaaS provides SaaS-like, flexible consumption models, pay-as-you-go pricing, and dynamic storage capacity management. GigaOm calls STaaS “a game-changing cloud storage solution” with a quick deployment model that ensures “faster time-to-value.”

    GigaOm’s 2025 Sonar Report identifies the following as Infinidat’s greatest strengths for Storage as a Service:

    • Cost and billing granularity: Infinidat’s InfiniVerse® platform offers highly granular, daily usage tracking with transparent, predictable pricing.
    • Scalability for expansion: The platform supports real-time scaling with pre-provisioned resources, ensuring seamless performance under high demand.
    • Ease of use: Infinidat delivers predictable analytics and self-service provisioning tools that enhance user experience.

    GigaOm’s analysts wrote in the report: “Infinidat is classified as a Fast Mover in the Feature Play quadrant, demonstrating its ability to keep pace with evolving customer needs. With a focus on scalability, reliability, and performance, Infinidat has strengthened its position as a viable competitor in the STaaS market. By continuing to expand hybrid cloud capabilities and enhancing its feature set, Infinidat is well-positioned to address the demands of enterprise workloads.”

    The GigaOm report also highlights the Infinidat platform’s operational efficiency and hybrid multi-cloud support. As a standalone offering within Infinidat’s portfolio, the STaaS platform emphasizes operational efficiency through features such as proactive monitoring, intelligent tiering, and seamless scalability. It integrates well with hybrid multi-cloud environments with the InfuzeOS® Cloud Edition, supporting public cloud platforms such as AWS and Azure.

    To download the full analyst report, click the link below:

    About Infinidat
    Infinidat provides enterprises and service providers with a platform-native primary and secondary storage architecture that delivers comprehensive data services based on InfiniVerse®. This unique platform delivers outstanding IT operating benefits, support for modern workloads across on-premises and hybrid multi-cloud environments. Infinidat’s cyber resilient-by-design infrastructure, consumption-based performance, 100% availability, and cyber security guaranteed SLAs align with enterprise IT and business priorities. Infinidat’s award-winning platform-native data services and acclaimed white glove service are continuously recommended by customers. For more information, visit www.infinidat.com.

    Connect with Infinidat
    About Infinidat
    Read our blog
    Follow us on X
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    Be our partner

    Media Contact
    Infinidat
    Sapna Capoor
    Director of Global Communications
    scapoor@infinidat.com I Mobile: +44 (0) 7789684159

    The MIL Network –

  • MIL-OSI Africa: CPI remains unchanged in February

    Source: South Africa News Agency

    Consumer price inflation has remained at 3.2% in February – unchanged from January.

    According to Statistics South Africa, the main contributors to the annual inflation rate were: 

    • Housing and utilities (4.4% and contributing 1.0 percentage point);
    • Food and non-alcoholic beverages (2.8% and contributing 0.5 of a percentage point), and
    • Restaurants and accommodation service.

    “Recreation, sport and culture, food and non-alcoholic beverages, alcoholic beverages and tobacco and communication recorded higher annual inflation rates in February.

    “Inflation cooled for several product categories, most notably, personal care and miscellaneous services, health, restaurants and accommodation, furnishings, household equipment and routine maintenance and transport,” Stats SA Director: CPI Operations, Lekau Ranoto, said.

    The annual rate for food and non-alcoholic beverages accelerated to some 2.8% in February from 2.3% in January.

    “Fruit and nuts, vegetables, hot beverages, seafood, meat and cereals recorded higher rates. On the down side, cold beverages milk, dairy and eggs, oils and fats and sugar confectionary and desserts witnessed slower price increases,” she said.

    Ranoto said inflation in maize meal – a staple in South African households – reached a 17-month high, with samp inflation also reaching a 19-month high in February.

    “The rise in prices is driven by inflationary pressure from the farming and manufacturing of maize according to the latest producer price index data. On average, consumer prices for meat stayed the same in February, compared with January, resulting in a monthly change of 0%. The annual rate was also 0%. 

    “While meat remained subdued, inflation for hot beverages continues to accelerate. The annual change in the price index for hot beverages was 14.6% in February, up from 13.7% in January,” Ranoto said.

    Meanwhile, Stats SA has also recorded a 10.5% increase in medical aid premiums this year and health services rose by 6.1%, compared with a 5% rise last year. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: One Stop Systems Reports Q4 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Strength in both segments contributed to consolidated year-over-year revenue growth for Q4 2024

    Consolidated revenue increased sequentially every quarter throughout 2024, reflecting the success of the Company’s transformation strategy to higher-growth markets

    Management expects double-digit consolidated revenue growth in 2025, driven by anticipated OSS segment revenue of over 20% and consolidated EBITDA break even for the year

    ESCONDIDO, Calif., March 19, 2025 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (“OSS” or the “Company”) (Nasdaq: OSS), a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) autonomy and sensor processing at the edge, reported results for the three- and twelve-month periods ended December 31, 2024. Comparisons for the three- and twelve-month periods are to the same year-ago periods unless otherwise noted.

    “I am pleased to report a return to consolidated year-over-year revenue growth for the fourth quarter, as sales from both our OSS and Bressner segments grew at double digit rates. Throughout 2024 we executed on our multi-year transformation, making significant progress in shifting our business toward higher-margin, higher-growth markets. We invested in our platform, strengthened our pipeline, and deepened collaboration with customers developing high-performance, Enterprise Class, edge computing solutions for both commercial and defense applications,” stated OSS President and CEO, Mike Knowles.

    “As efforts to reposition the Company for revenue growth gained momentum during 2024 and our business model evolved, we adjusted our legacy inventory and program costs to better align with our focus on improving efficiencies and increasing profitability. We believe the progress we made in 2024 strengthened our business, positioning the Company for higher sales and profitability in 2025 and beyond,” concluded Mr. Knowles.

    2024 Fourth-Quarter Financial Summary

    Consolidated revenue was $15.1 million, compared to $13.2 million in the fourth quarter of 2023. The 15.1% year-over-year increase was a result of a $1.3 million increase in Bressner segment revenue and a $642,000 year-over-year increase in OSS segment revenue. The 10% year-over-year increase in OSS segment revenue was primarily due to higher revenue from defense and commercial customers, as well as new customer-funded development orders, aligned directly with the Company’s strategic focus and plan.

    The following table sets forth net revenue by segment for the three months ended December 31, 2024, and December 31, 2023 (Dollars may not calculate due to rounding):

      Three Months Ended
    Entity: December 31, 
    2024
    		   % of Net
    Revenue
    		   December 31, 
    2023
    		   % of Net
    Revenue
    		   % Change  
    OSS $ 7,042,613   46.5 %   $ 6,401,047   48.7 %   10.0 %
    Bressner   8,097,533   53.5 %     6,754,161   51.3 %   19.9 %
    Total net revenue $ 15,140,146   100.0 %   $ 13,155,209   100.0 %   15.1 %
     

    During the fourth quarter ended December 31, 2024, the Company took a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2022.   This charge reduced reported gross margin, net income, and adjusted EBITDA for the three- and twelve-month periods ended December 31, 2024. Management does not currently foresee any further charges related to this customer-funded development contract.  

    Consolidated gross margin percentage was 15.7%, compared to 33.7% in the prior year quarter. Gross margin, excluding the one-time charges, was 23.8%, compared to 33.7% in the same period last year. The decrease in gross margin was primarily due to product mix.

    On a segment basis, the OSS segment had a gross margin of 9.4%, compared to 45.9% for the same period a year ago. OSS segment gross margin, excluding the one-time charges, was 26.8%, compared to 45.9%. The decrease from the same period last year was primarily driven by product mix. The Company’s Bressner segment had a gross margin percentage of 21.2%, compared to 22.2% in the same period last year.  

    Total operating expenses increased 15.1% to $5.5 million. This increase was predominantly attributable to higher general and administrative costs related to planned sales and program management investments made during the quarter.

    The Company reported a net loss of $3.1 million, or $(0.15) per share, as compared to a net loss of $278,000, or $(0.01) per share, in the prior year period.

    Adjusted EBITDA, a non-GAAP metric, was a loss of $2.3 million, inclusive of $1.2 million in one-time charges, compared to adjusted EBITDA of $322,000 in the prior year period.

    As of December 31, 2024, the Company reported cash and short-term investments of $10.0 million and total working capital of $24.0 million, compared to cash and short-term investments of $11.8 million and total working capital of $35.6 million at December 31, 2023. The reduction in cash and short-term investments was primarily driven by the paydown of $1 million of notes payable.  

    2024 Twelve Months Financial Summary

    Consolidated revenue was $54.7 million, compared to $60.9 million for the same period last year. The 10.2% year-over-year reduction in consolidated revenue was primarily a result of approximately $4.8 million related to a former media customer, for whom shipments ceased in the second quarter of 2023. This decrease was partially offset by higher sales to customers in the military and defense end markets. In addition, Bressner segment revenue declined by $2.0 million on a year-over-year basis, associated with slower economic activity in the German economy.  

    The following table sets forth net revenue by segment for the twelve months ended December 31, 2024, and December 31, 2023 (Dollars may not calculate due to rounding):

      Twelve Months Ended
    Entity: December 31, 
    2024
    		   % of Net
    Revenue
    		   December 31, 
    2023
    		   % of Net
    Revenue
    		   % Change
    OSS $ 24,558,809   44.9 %   $ 28,809,888   47.3 %   (14.8 )%
    Bressner   30,135,550   55.1 %     32,086,910   52.7 %   (6.1 )%
    Total net revenue $ 54,694,358   100.0 %   $ 60,896,798   100.0 %   (10.2 )%
                                 

    For the year ended December 31, 2024, the Company incurred a total of $8.3 million of one-time charges that reduced reported gross margin, net income, and adjusted EBITDA. During the fourth quarter of 2024, the Company took a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2022.   Additionally, during the year, OSS incurred $7.1 million of inventory charges related to obsolete and slow-moving inventory associated with the transition of the Company’s business model and operating strategies, as well as slower adoption and movement in certain commercial and defense edge compute markets. Management does not currently foresee any further significant adjustments to costs related to this customer-funded development contract or inventory charges, outside of historical trends.  

    Consolidated gross margin percentage was 14.1%, compared to 29.5% in the prior year. On a full year basis, consolidated gross margin, excluding one-time charges, was 29.3%, compared to 29.5% in 2023.

    On a segment basis, the Company’s OSS segment had a gross margin of 2.5%, compared to 35.6% for the same period a year ago. OSS segment gross margin, excluding one-time charges, was 36.4%, up from 35.6% for 2023. The Company’s Bressner segment had a gross margin of 23.5%, compared to 24.0% in the same period last year.  

    Total operating expenses decreased 18.6% to $21.1 million. This decrease was predominantly attributable to a charge of $5.6 million for an impairment of goodwill that occurred during the 2023 twelve-month period, the elimination of costs associated with organizational restructuring, timing of certain new product introduction activities and the deployment of engineering resources onto customer funded development efforts, partially offset by increased costs for personnel and for tradeshow participation.

    The Company reported a net loss of $13.6 million, or $(0.65) per share, as compared to a net loss of $6.7 million, or $(0.32) per share, in the prior year. Non-GAAP net loss and loss per share was $11.6 million, or $(0.56) per share, as compared to non-GAAP net loss and loss per share of $415,000, or $(0.02) per share, in the prior year period. Net loss and non-GAAP net loss for the period ended December 31, 2024, are inclusive of $8.3 million of one-time charges.

    Adjusted EBITDA, a non-GAAP metric, was a loss of $10.3 million, inclusive of $7.1 million of inventory-related charges and a $1.2 million contract loss related to a customer-funded development contract that was entered into in 2022, compared to adjusted EBITDA of $1.1 million in the prior year.

    2025 Full Year Outlook

    The Company anticipates consolidated revenue of $59 to $61 million for the full year of 2025. This includes expected OSS segment revenue of approximately $30 million, representing over 20% year-over-year growth in the OSS segment. In addition, the Company expects to be EBITDA break-even for the full year of 2025. Management expects revenue and profitability to improve at a higher rate in the second half of 2025 based on current trends and the Company’s expanding sales pipeline.   

    Conference Call

    OSS will hold a conference call to discuss its results for the fourth quarter of 2024, followed by a question-and-answer period.

    Date: Wednesday, March 19, 2025
    Time: 10:00 a.m. ET (7:00 a.m. PT)
    Toll-free dial-in: 1-800-717-1738
    International dial-in: 1-646-307-1865
    Conference ID: 35863 (required for entry)
    Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1706031&tp_key=7e52a82afd

    A replay of the call will be available after 1:00 p.m. ET on March 19, 2025, through April 2, 2025.

    Toll-free replay: 1-844-512-2921
    International replay: 1-412-317-6671
    Passcode: 1135863

    About One Stop Systems

    One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

    OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

    OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

    As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require—and OSS delivers—the highest level of performance in the most challenging environments without compromise.

    OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

    Non-GAAP Financial Measures

    We believe that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the Company. The Company defines adjusted EBITDA as income (loss) before interest, taxes, depreciation, amortization, acquisition expense, impairment of long-lived assets, financing costs, government funded programs, fair value adjustments from purchase accounting, stock-based compensation expense, and expenses related to discontinued operations.

    Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States, or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash operating expenses, we believe that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between our core business operating results and those of other companies, as well as providing us with an important tool for financial and operational decision making and for evaluating our own core business operating results over different periods of time.

    Our adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring and unusual items. Our adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. We do not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.

      For the Three Months Ended
    December 31,    		     For the Year Ended 
    December 31,    		  
      2024     2023     2024     2023  
    Net loss $ (3,134,782 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
    Depreciation and amortization of intangibles   226,417       263,743       1,041,837       1,077,516  
    Amortization of right-of-use assets, net of changes in lease liability   (2,488 )     (30,208 )     29,885       22,592  
    Stock-based compensation expense   564,176       454,461       1,988,125       2,345,358  
    Interest expense   3,206       29,662       74,116       117,774  
    Interest income   (100,805 )     (159,487 )     (477,745 )     (544,958 )
    Impairment of goodwill   –       –       –       5,630,788  
    Employee retention credit (ERC)   –       –       –       (1,716,727 )
    Provision for income taxes   157,120       41,796       726,502       927,128  
    Adjusted EBITDA $ (2,287,156 )   $ 322,407     $ (10,251,613 )   $ 1,143,296  
                           

    FOOTNOTE: Adjusted EBITDA for the fourth quarter and full year ended December 31, 2024, included a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2023. Adjusted EBITDA for the full year ended December 31, 2024, also included inventory-related charges of $7.1 million.  

    (Dollars may not calculate due to rounding)

    Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. We believe that exclusion of certain selected items assists in providing a more complete understanding of our underlying results and trends and allows for comparability with our peer company index and industry. We use this measure along with the corresponding GAAP financial measures to manage our business and to evaluate our performance compared to prior periods and the marketplace. The Company defines non-GAAP income (loss) as income or (loss) before amortization, government funded programs, impairment of long lived assets, stock-based compensation, expenses related to discontinued operations, and acquisition costs. Adjusted EPS expresses adjusted income (loss) on a per share basis using weighted average diluted shares outstanding.

    Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. We expect to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from our presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

    The following table reconciles non-GAAP net income and basic and diluted earnings per share:

      For the Three Months Ended 
    December 31,    		     For the Full Year Ended
    December 31,    		  
      2024     2023     2024     2023  
    Net loss $ (3,134,782 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
    Amortization of intangibles   –       –       –       42,154  
    Impairment of goodwill   –       –       –       5,630,788  
    Employee retention credit (ERC)   –       –       –       (1,716,727 )
    Stock-based compensation expense   564,176       454,461       1,988,125       2,345,358  
    Non-GAAP net loss $ (2,570,606 )   $ 176,901     $ (11,646,208 )   $ (414,603 )
    Non-GAAP net loss per share:                      
    Basic $ (0.12 )   $ 0.01     $ (0.56 )   $ (0.02 )
    Diluted $ (0.12 )   $ 0.01     $ (0.56 )   $ (0.02 )
    Weighted average common shares outstanding:                      
    Basic   21,120,396       20,632,300       20,953,397       20,854,777  
    Diluted   21,120,396       20,632,300       20,953,397       20,854,777  
                           

    FOOTNOTE: Non-GAAP net loss for the fourth quarter and full year ended December 31, 2024, included a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2023. Non-GAAP net loss for the full year ended December 31, 2024, also included an inventory charge of $6.1 million.  

    (Dollars may not calculate due to rounding)

    Forward-Looking Statements

    One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved, including but not limited to, our ability to expand our product offerings and further penetrate our target markets, future demand for AI/ML integrations, expected or anticipated increase in revenues, and our business strategies. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Media Contacts:
    Robert Kalebaugh
    One Stop Systems, Inc.
    Tel (858) 518-6154
    Email contact

    Investor Relations:
    Andrew Berger
    Managing Director
    SM Berger & Company, Inc.
    Tel (216) 464-6400
    Email contact

    ONE STOP SYSTEMS, INC. (OSS)
    CONSOLIDATED BALANCE SHEETS
     
      Audited     Audited  
      December 31,     December 31,  
      2024     2023  
    ASSETS          
    Current assets          
    Cash and cash equivalents $ 6,794,093     $ 4,048,948  
    Short-term investments   3,217,065       7,771,820  
    Accounts receivable, net   8,177,371       8,318,247  
    Inventories, net   13,176,156       21,694,748  
    Prepaid expenses and other current assets   836,364       611,066  
    Total current assets   32,201,048       42,444,829  
    Property and equipment, net   1,669,026       2,370,224  
    Operating lease right-of use assets   1,536,094       1,922,784  
    Deposits and other   38,093       38,093  
    Goodwill   1,489,722       1,489,722  
    Total Assets $ 36,933,982     $ 48,265,652  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Current liabilities          
    Accounts payable $ 2,068,017     $ 1,201,781  
    Accrued expenses and other liabilities   4,806,675       3,202,519  
    Current portion of operating lease obligation   285,937       390,926  
    Current portion of notes payable   1,035,050       2,077,895  
    Total current liabilities   8,195,679       6,873,121  
    Deferred tax liability, net   52,574       44,673  
    Operating lease obligation, net of current portion   1,513,684       1,765,536  
    Total liabilities   9,761,937       8,683,330  
    Commitments and contingencies          
    Stockholders’ equity          
    Common stock, $0.0001 par value; 50,000,000 shares authorized; 21,148,810 and 20,661,341 shares issued and outstanding at December 31, 2024 and 2023, respectively   2,115       2,066  
    Additional paid-in capital   49,082,737       47,323,673  
    Accumulated other comprehensive income   140,254       675,310  
    Accumulated deficit   (22,053,061 )     (8,418,727 )
    Total stockholders’ equity   27,172,045       39,582,322  
    Total Liabilities and Stockholders’ Equity $ 36,933,982     $ 48,265,652  
               
    ONE STOP SYSTEMS, INC. (OSS)
    UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Dollars may not calculate due to rounding)
     
      For the Three Months Ended
    December 31,    		     For the Year Ended
    December 31,    		  
      2024     2023     2024     2023  
    Revenue:                      
    Product $ 14,280,939     $ 12,335,554     $ 51,003,350     $ 59,200,580  
    Customer funded development   859,207       819,655       3,691,009       1,696,217  
        15,140,146       13,155,209       54,694,358       60,896,797  
    Cost of revenue:                      
    Product   10,829,859       8,229,397       42,953,344       41,907,604  
    Customer funded development   1,930,800       491,242       4,022,707       1,034,571  
        12,760,659       8,720,639       46,976,051       42,942,175  
    Gross (loss) profit   2,379,487       4,434,570       7,718,307       17,954,622  
    Operating expenses:                      
    General and administrative   2,413,102       1,970,746       8,971,909       9,264,447  
    Impairment of goodwill   –       –       –       5,630,788  
    Marketing and selling   1,821,918       1,667,765       8,005,982       6,651,516  
    Research and development   1,250,377       1,127,194       4,097,229       4,331,024  
    Total operating expenses   5,485,397       4,765,704       21,075,120       25,877,775  
    Loss from operations   (3,105,910 )     (331,134 )     (13,356,813 )     (7,923,153 )
    Other income (expense), net:                      
    Interest income   100,805       159,487       477,745       544,958  
    Interest expense   (3,206 )     (29,662 )     (74,116 )     (117,774 )
    Employee retention credit (ERC)   –       418,431       –       1,716,727  
    Other income (expense), net   30,647       (452,886 )     45,353       (9,806 )
    Total other income, net   128,246       95,370       448,982       2,134,105  
    Loss before income taxes   (2,977,664 )     (235,764 )     (12,907,831 )     (5,789,048 )
    Provision for income taxes   157,119       41,796       726,502       927,128  
    Net loss $ (3,134,783 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
                           
    Net loss per share:                      
    Basic $ (0.15 )   $ (0.01 )   $ (0.65 )   $ (0.32 )
    Diluted $ (0.15 )   $ (0.01 )   $ (0.65 )   $ (0.32 )
                           
    Weighted average common shares outstanding:                      
    Basic   21,120,396       20,632,300       20,953,397       20,854,777  
    Diluted   21,120,396       20,632,300       20,953,397       20,854,777  
                                   
    ONE STOP SYSTEMS, INC. (OSS)
    UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
     
      For the Twelve Months Ended
    December 31,
      2024     2023 
    Cash flows from operating activities:        
    Net loss $ (13,634,333 )   $ (6,716,176 )
    Adjustments to reconcile net loss to net cash provided by operating activities:        
    Deferred income taxes   28,082       (95,496 )
    Loss (gain) on disposal of property and equipment   354       –  
    Provision for bad debt   85,447       4,160  
    Impairment of goodwill   –       5,630,788  
    Warranty reserves   (79,962 )     11,846  
    Amortization of intangibles   –       42,154  
    Depreciation   1,041,837       1,035,362  
    Amortization of right-of-use assets   377,206       1,241,445  
    Inventory reserves   7,348,390       962,458  
    Stock-based compensation expense   1,988,125       2,345,358  
    Employee retention credit   –       (1,716,727 )
    Changes in operating assets and liabilities:        
    Accounts receivable   (190,339 )     3,095,701  
    Inventories   658,303       (1,636,153 )
    Prepaid expenses and other current assets   (238,554 )     (100,848 )
    Accounts payable   926,231       (3,408,487 )
    Accrued expenses and other liabilities   1,928,436       83,789  
    Operating lease liabilities   (347,321 )     (1,218,853 )
    Net cash provided by operating activities   (108,098 )     (439,679 )
             
    Cash flows from investing activities:        
    Redemption of short-term investment grade securities   4,553,535       2,342,552  
    Purchases of property and equipment, including capitalization of labor   (362,748 )     (821,753 )
    Net cash provided by investing activities   4,190,787       1,520,799  
             
    Cash flows from financing activities:        
    Proceeds from exercise of stock options and warrants   237,749       62,422  
    Payment of payroll taxes on net issuance of employee stock options   (466,762 )     (597,856 )
    Repayments on notes payable   (954,939 )     (1,352,637 )
    Employee retention credit benefit   –       1,716,727  
    Net cash (used in) provided by financing activities   (1,183,952 )     (171,344 )
             
    Net change in cash and cash equivalents   2,898,737       909,776  
    Effect of exchange rates on cash   (153,592 )     26,977  
    Cash and cash equivalents, beginning of period   4,048,948       3,112,196  
    Cash and cash equivalents, end of period $ 6,794,093     $ 4,048,948  

    The MIL Network –

  • MIL-OSI United Kingdom: Chancellor’s National Wealth Fund to deliver growth and boost security

    Source: United Kingdom – Executive Government & Departments

    News story

    Chancellor’s National Wealth Fund to deliver growth and boost security

    Chancellor sets new strategy for National Wealth Fund to reflect our Plan for Change, unlocking billions of pounds of private investment into the UK.

    • New strategic steer will see National Wealth Fund take on higher risk projects as government goes further and faster to kickstart economic growth, make Britain a clean energy superpower and boost security.
    • Government also launches recruitment for a new National Wealth Fund CEO to build on the £1.8 billion unlocked in private investment since July.

    The National Wealth Fund will unlock over £70 billion in private investment to help deliver economic growth, make Britain a clean energy superpower, and strengthen the defence sector, the Chancellor has confirmed today [19 March]. 

    The new strategic direction sets clean energy, advanced manufacturing, digital technologies, and transport as new priority sectors for the National Wealth Fund. Money will be invested across the United Kingdom in projects like carbon capture, green hydrogen, gigafactories, green steel, and ports.  

    Crucially, the Chancellor’s steer will help direct investment to the industries our defence sector relies on – advanced manufacturing and digital and dual-use technologies – working with industry to keep Britain safe and building on the Government’s commitment to increase spending on defence and national security to 2.5% of GDP from April 2027.   

    The National Wealth Fund’s economic capital limit will also be increased from £4.5 billion to £7 billion, allowing it take on greater risk. This means it has more flexibility over its investments and can support more projects that struggle to access private finance.

    Chancellor of the Exchequer, Rt Hon Rachel Reeves MP, said:

    My number one mission is kickstarting economic growth through our Plan for Change to make Great Britain a stronger, more resilient country and put more money into the pockets of working people.

    I am determined to go further and faster to get our economy growing. By directing tens of billions of pounds into the UK’s industrial strengths, we’ll deliver the high-skilled, high-paid jobs of the future in every corner of the country.

    Since July last year, the National Wealth Fund has unlocked 9,900 jobs and nearly £1.8 billion of private investment in growth-driving industries like green energy and technology. 

    Investment has already started flowing into priority sectors including £55 million for Connected Kerb to increase coverage of EV charging networks and a £28.6 million investment into Cornish Metals. 

    The Chancellor’s strategic steer comes as a new £9.6 million National Wealth Fund investment was announced today for Solihull Council to improve the area’s heating infrastructure and reduce bills, providing low carbon heating, hot water and power to town centre buildings. 

    To lead this new chapter for the UK’s flagship public investor, the Government has also launched a recruitment campaign for the National Wealth Fund’s next CEO. 

    John Flint will step down from the role of CEO in the summer after successfully seeing through the National Wealth Fund’s transition from the UK Infrastructure Bank. 

    The Chancellor will also establish a new UK Strategic Public Investment Forum joining up the UK’s leading policymakers and public financial institutions including the CEOs of the National Wealth Fund, British Business Bank, UK Export Finance, Homes England, Innovate UK, and Great British Energy and The Crown Estate. 

    The forum – the first of its kind – will cooperate on delivering investments to the priority areas set out by the Chancellor and will be tasked with ensuring the Government is getting maximum impact for its investments.  

    Stemming from this, the National Wealth Fund will work closely with Great British Energy to support its quick establishment as a publicly owned clean energy company that will boost Britain’s energy security making it a clean energy superpower, lower bills, create jobs, and grow the economy.

    Investing in homegrown clean energy industries is an essential part of the government’s drive to replace the UK’s dependency on fossil fuel markets controlled by petrostates and dictators with clean, homegrown power.

    Secretary of State for Energy Security and Net Zero, Rt Hon Ed Miliband MP, said:

    Clean power is the economic opportunity of the 21st century – and through the National Wealth Fund we will seize this opportunity to invest in British industries and workers.

    We are delivering our clean energy superpower mission to make our country energy secure and deliver the good jobs that the British people deserve.

    More details on Great British Energy’s developer mandate have also been released today.

    The partnership between Great British Energy and the National Wealth Fund will see the former bringing project development expertise as well as investment, and the latter providing finance, a model already being deployed in Japan and Denmark. 

    Harnessing private investment via the National Wealth Fund is part of the Government’s wider efforts to kickstart economic growth and deliver a new era of security and renewal through our Plan for Change. 

    Cutting red tape so major infrastructure projects can progress, removing unnecessary hurdles in the planning system so more homes can be built, and progressing new economic partnerships with international partners like Japan and India is part of the work being undertaken to grow the economy and put more money in people’s pockets.

    More information

    Updates to this page

    Published 19 March 2025

    MIL OSI United Kingdom –