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  • MIL-OSI: CECO Environmental Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Company Produces Record Q3 Bookings and Highest-Ever Backlog
    Q3 Revenue and Income Impacted by Customer-Driven Project Delays
    Announced the Acquisition of Profire Energy (Nasdaq: PFIE) for $125 Million
    Completed Acquisition of WK, in Early October
    Updates FY24 Guidance and Introduces 2025 Outlook

    DALLAS, Oct. 29, 2024 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO) (“CECO”), (the “Company”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the third quarter of 2024. In addition, CECO, announces it has completed the acquisition of WK, an Industrial Air company headquartered in Germany, in early October. Additionally, the Company announced the acquisition of Profire Energy, Inc. (NASDAQ: PFIE) (“Profire”), a leader in burner management technology and combustion control systems that provide mission-critical combustion automation and control solutions and services to improve environmental efficiency, safety and reliability for industrial thermal applications globally.

    Third Quarter Summary(1)

    • Orders of $162.3 million, up 12 percent
    • Backlog of $437.5 million
    • Revenue of $135.5 million, down 9 percent
    • Gross profit of $45.3 million, up 5 percent; Gross margin of 33.4 percent, up 460 basis points
    • Net income of $2.1 million, down 36 percent; non-GAAP net income of $5.2 million, down 32 percent
    • GAAP EPS (diluted) of $0.06; non-GAAP EPS (diluted) of $0.14, down 36 percent
    • Adjusted EBITDA of $14.3 million, down 5 percent
    • Free cash flow of $11.1 million, down $17.4 million

    Subsequent to the Quarter

    • Completes the acquisition of WK in early October
    • Announces the acquisition of Profire; expected to close by January 2025

    (1) All comparisons are versus the comparable prior year period, unless otherwise stated.
    Reconciliations of GAAP (reported) to non-GAAP measures are in the attached financial tables.

    Todd Gleason, CECO’s Chief Executive Officer commented, “While our third quarter produced very strong orders and a new record backlog, we were disappointed that we fell short of the anticipated quarterly revenue and income outlook as a handful of customer-driven delays in larger projects could not be overcome by continued progress with margin expansion and other actions. These delayed projects are expected to begin activity over the coming months and the impact is reflected in our updated full year 2024 and newly introduced full year 2025 outlook. We are excited to have been awarded several large energy transition and general industrial orders in the quarter and we anticipate this trend to continue as we are forecasting a very strong fourth quarter bookings period.”

    Third quarter operating income was $7.2 million, down $0.7 million or 9 percent when compared to $7.9 million in the third quarter 2023. On an adjusted basis, non-GAAP operating income was $11.0 million, down $1.8 million or 14 percent when compared to $12.8 million in the third quarter of 2023. Net income was $2.1 million in the quarter, down $1.2 million or 36 percent when compared to $3.3 million in the third quarter of 2023. Non-GAAP net income was $5.2 million, down $2.4 million or 32 percent when compared to $7.6 million in the third quarter of 2023. Adjusted EBITDA of $14.3 million, reflecting a margin of 10.6 percent, was down 5 percent compared to $15.1 million in the third quarter of 2023. Free cash flow in the quarter was $11.1 million, down $17.4 million compared to $28.5 million in the third quarter of 2023.

    Completes Acquisition of WK

    CECO today announced that in early October it completed the acquisition of Germany-based, WK – a leading industrial air business with well-established global customers and a strong Asia-Pacific presence, based out of Singapore. WK designs, engineers and supplies a broad range of cutting-edge technical equipment and systems for process and environmental and surface technology applications, as well as innovative sustainable solutions. This acquisition strengthens CECO’s footprint and capabilities within the industrial processing solutions segment and further advances the Company’s Industrial Air and leadership positions. WK is expected to deliver full year 2024 sales of approximately $15 million with the potential for high-teen EBITDA margins.

    “I would like to welcome the WK organization to our portfolio of leading industrial air solutions businesses,” said Mr. Gleason. “Together we will advance our joint capabilities to better serve global customers while penetrating markets with solutions and services from across our diverse enterprise.”

    Announces Acquisition of Profire Energy, Inc. (Nasdaq: PFIE)

    “I am excited that today we announced the acquisition of Profire in an all-cash transaction that we expect will close in January 2025. Profire expects to generate approximately $60 million in revenues with adjusted EBITDA margins of approximately 20 percent in the full year 2024. With an installed base approaching 100,000 burner management systems and a growing industrial market product offering, we look forward to accelerating their global market expansion and introducing their high-efficiency solutions to more customers in the industrial air and water markets. We are confident the increased scale and combined corporate organizations will generate meaningful efficiencies and synergies. The addition of Profire is another important step in our ongoing execution of programmatic M&A and we expect it will further advance our position as the leading environmental solutions provider in industrial markets,” added Mr. Gleason.

    Updates 2024 Full Year Guidance

    The Company updated its 2024 full year revenue guidance to reflect revenue between $575 and $600 million, up approximately 10 percent year over year at the midpoint of the range, and adjusted EBITDA between $65 to $70 million, up approximately 17 percent year over year, at the midpoint of the range. The updated expected full year guidance compares to the previous outlook for revenues of between $600 to $620 million and adjusted EBITDA of between $68 to $72 million. The Company expects 2024 full year bookings guidance to reflect a book to bill rate of or in excess of 1.2x, up from a previous range of 1.05x to 1.1x. The Company maintains its full year outlook for free cash flow of 50% to 70% of adjusted EBITDA.

    “Our updated full year 2024 guidance essentially mirrors the initial outlook we provided as we entered 2024. As previously mentioned, unfortunately, the customer-driven delays associated with a handful of larger projects impacted our ability to hit the raised guidance we issued mid-year. This is the first time we have reduced guidance in company history, and although this is disappointing for our short-term results, we remain very pleased with our bookings, margin expansion progress and overall execution. Additionally, the revenue and associated income from the 2024 project delays slide into upcoming quarters, so we remain focused on execution and controlling factors we can influence,” said Mr. Gleason.

    Introduces 2025 Full Year Guidance

    The Company introduced its 2025 full year guidance to reflect revenue between $700 and $750 million, up approximately 25 percent at the midpoint of the range, and adjusted EBITDA between $90 and $100 million, up approximately 40% at the midpoint of the range. The Company expects full year free cash flow of between 50% to 70% of adjusted EBITDA.

    Mr. Gleason concluded, “Our full year 2025 outlook reflects the visibility we have with our record backlog, ongoing strong bookings, 2024 related project push outs, and the impact from already completed acquisitions and the pending transaction with Profire. We continue to drive an aggressive operating model that supports strong organic growth, coupled with steady margin expansion and additions from accretive and strategic acquisitions.”

    EARNINGS CONFERENCE CALL

    A conference call is scheduled for today at 8:30 a.m. ET to discuss the third quarter 2024 financial results. Please visit the Investor Relations portion of the website (https://investors.cecoenviro.com) to listen to the call via webcast. The conference call may also be accessed by visiting https://edge.media-server.com/mmc/p/4ui844vi.

    A replay of the conference call will be available on the Company’s website for a period of one year. The replay may also be accessed by visiting https://edge.media-server.com/mmc/p/4ui844vi.

    ABOUT CECO ENVIRONMENTAL

    CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water and energy transition markets globally providing innovative solutions and application expertise. CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. CECO solutions improve air and water quality, optimize emissions management, and increase energy efficiency for highly-engineered applications in power generation, midstream and downstream hydrocarbon processing and transport, electric vehicle production, polysilicon fabrication, semiconductor and electronics, battery production and recycling, specialty metals and steel production, beverage can, and water/wastewater treatment and a wide range of other industrial end markets. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Dallas, Texas. For more information, please visit www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
    investor.relations@onececo.com

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors, LLC
    214-872-2710
    investor.relations@onececo.com

    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
               
    (in thousands, except per share data) (unaudited)
    September 30, 2024    		     December 31, 2023  
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 38,700     $ 54,779  
    Restricted cash   226       669  
    Accounts receivable, net of allowances of $7,214 and $6,460   100,111       112,733  
    Costs and estimated earnings in excess of billings on uncompleted contracts   68,500       66,574  
    Inventories, net   37,760       34,089  
    Prepaid expenses and other current assets   27,143       11,769  
    Prepaid income taxes   3,826       824  
    Total current assets   276,266       281,437  
    Property, plant and equipment, net   32,306       26,237  
    Right-of-use assets from operating leases   24,690       16,256  
    Goodwill   220,026       211,326  
    Intangible assets – finite life, net   51,547       50,461  
    Intangible assets – indefinite life   9,598       9,570  
    Deferred income taxes   287       304  
    Deferred charges and other assets   6,792       4,700  
    Total assets $ 621,512     $ 600,291  
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
    Current liabilities:          
    Current portion of debt $ 10,580     $ 10,488  
    Accounts payable   92,316       87,691  
    Accrued expenses   43,762       44,301  
    Billings in excess of costs and estimated earnings on uncompleted contracts   64,801       56,899  
    Notes payable   1,700       2,500  
    Income taxes payable   —       1,227  
    Total current liabilities   213,159       203,106  
    Other liabilities   10,336       12,644  
    Debt, less current portion   122,818       126,795  
    Deferred income tax liability, net   9,622       8,838  
    Operating lease liabilities   19,696       11,417  
    Total liabilities   375,631       362,800  
    Commitments and contingencies (See Note 14)          
    Shareholders’ equity:          
    Preferred stock, $.01 par value; 10,000 shares authorized, none issued   —       —  
    Common stock, $.01 par value; 100,000,000 shares authorized, 34,979,018 and
    34,835,293 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively    		   349       348  
    Capital in excess of par value   253,590       254,956  
    Retained earnings (accumulated loss)   1,692       (6,387 )
    Accumulated other comprehensive loss   (14,374 )     (16,274 )
    Total CECO shareholders’ equity   241,257       232,643  
    Noncontrolling interest   4,624       4,848  
    Total shareholders’ equity   245,881       237,491  
    Total liabilities and shareholders’ equity $ 621,512     $ 600,291  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited)
               
      Three months ended September 30,     Nine months ended September 30,  
    (in thousands, except share and per share data) 2024     2023     2024     2023  
    Net sales $ 135,513     $ 149,390     $ 399,367     $ 391,134  
    Cost of sales   90,247       106,269       259,921       273,303  
    Gross profit   45,266       43,121       139,446       117,831  
    Selling and administrative expenses   34,262       30,439       105,636       86,082  
    Amortization and earnout expenses   2,617       1,968       7,036       5,988  
    Acquisition and integration expenses   1,210       1,386       1,876       2,210  
    Executive transition expenses   —       1,258       —       1,417  
    Restructuring expenses   (10 )     217       544       217  
    Asbestos litigation expenses   —       —       225       —  
    Income from operations   7,187       7,853       24,129       21,917  
    Other expense, net   (398 )     (216 )     (2,589 )     (670 )
    Interest expense   (2,648 )     (3,340 )     (9,315 )     (9,498 )
    Income before income taxes   4,141       4,297       12,225       11,749  
    Income tax expense   1,602       585       2,664       1,577  
    Net income   2,539       3,712       9,561       10,172  
    Noncontrolling interest   (453 )     (382 )     (1,482 )     (1,140 )
    Net income attributable to CECO Environmental Corp. $ 2,086     $ 3,330     $ 8,079     $ 9,032  
    Earnings per share:                      
    Basic $ 0.06     $ 0.10     $ 0.23     $ 0.26  
    Diluted $ 0.06     $ 0.09     $ 0.22     $ 0.26  
    Weighted average number of common shares outstanding:                      
    Basic   34,966,625       34,771,742       34,910,165       34,612,163  
    Diluted   36,488,788       35,301,429       36,322,690       35,215,843  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
         
      Nine months ended September 30,  
    (in thousands) 2024     2023  
    Cash flows from operating activities:          
    Net income $ 9,561     $ 10,172  
    Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
    Depreciation and amortization   10,536       8,769  
    Unrealized foreign currency gain (loss)   201       (138 )
    Fair value adjustment to earnout liabilities   400       296  
    Gain on sale of property and equipment   135       43  
    Debt discount amortization   357       271  
    Share-based compensation expense   5,790       3,096  
    Bad debt expense   404       154  
    Inventory reserve expense   850       526  
    Other   77       —  
    Changes in operating assets and liabilities, net of acquisitions:          
    Accounts receivable   9,653       (25,961 )
    Costs and estimated earnings in excess of billings on uncompleted contracts   (1,498 )     6,006  
    Inventories   (4,305 )     (10,395 )
    Prepaid expense and other current assets   (18,059 )     (8,228 )
    Deferred charges and other assets   (2,755 )     (268 )
    Accounts payable   15,387       21,162  
    Accrued expenses   (550 )     7,868  
    Billings in excess of costs and estimated earnings on uncompleted contracts   7,286       19,330  
    Income taxes payable   (1,140 )     261  
    Other liabilities   (9,330 )     (3,473 )
    Net cash provided by operating activities   23,000       29,491  
    Cash flows from investing activities:          
    Acquisitions of property and equipment   (11,237 )     (5,511 )
    Net cash paid for acquisitions   (14,954 )     (48,102 )
    Net cash used in investing activities   (26,191 )     (53,613 )
    Cash flows from financing activities:          
    Borrowings on revolving credit lines   58,400       94,200  
    Repayments on revolving credit lines   (54,800 )     (63,200 )
    Repayments of long-term debt   (7,843 )     (2,478 )
    Payments on finance leases and financing liability   (692 )     (680 )
    Deferred consideration paid for acquisitions   (2,050 )     (1,247 )
    Earnout payments   (1,672 )     (1,496 )
    Proceeds from employee stock purchase plan and exercise of stock options   846       1,435  
    Noncontrolling interest distributions   (1,707 )     (1,364 )
    Common stock repurchased   (5,000 )     —  
    Net cash (used in) provided by financing activities   (14,518 )     25,170  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   1,187       703  
    Net (decrease) increase in cash, cash equivalents and restricted cash   (16,522 )     1,751  
    Cash, cash equivalents and restricted cash at beginning of period   55,448       46,585  
    Cash, cash equivalents and restricted cash at end of period $ 38,926     $ 48,336  
    Cash paid during the period for:          
    Interest $ 9,714     $ 8,531  
    Income taxes $ 6,779     $ 8,633  
    CECO ENVIRONMENTAL CORP. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
               
      Three months ended September 30,     Nine months ended September 30,  
    (in millions, except ratios) 2024     2023     2024     2023  
    Operating income as reported in accordance with GAAP $ 7.2     $ 7.9     $ 24.1     $ 21.9  
    Operating margin in accordance with GAAP   5.3 %     5.3 %     6.0 %     5.6 %
    Amortization and earnout expenses   2.6       2.0       7.1       6.0  
    Acquisition and integration expenses   1.2       1.4       1.9       2.2  
    Restructuring expenses   —       0.2       0.5       0.2  
    Executive transition expenses   —       1.3       —       1.4  
    Asbestos litigation expenses   —       —       0.2       —  
    Non-GAAP operating income $ 11.0     $ 12.8     $ 33.8     $ 31.7  
    Non-GAAP operating margin   8.1 %     8.6 %     8.5 %     8.1 %
      Three months ended September 30,     Nine months ended September 30,  
    (in millions, except share data) 2024     2023     2024     2023  
    Net income as reported in accordance with GAAP $ 2.1     $ 3.3     $ 8.1     $ 9.0  
    Amortization and earnout expenses   2.6       2.0       7.1       6.0  
    Acquisition and integration expenses   1.2       1.4       1.9       2.2  
    Restructuring expenses   —       0.2       0.5       0.2  
    Executive transition expense   —       1.3       —       1.4  
    Asbestos litigation expense   —       —       0.2       –  
    Foreign currency remeasurement   0.3       0.8       1.8       (0.1 )
    Tax (benefit) expense of adjustments   (1.0 )     (1.4 )     (2.8 )     (2.4 )
    Non-GAAP net income $ 5.2     $ 7.6     $ 16.8     $ 16.3  
    Depreciation   1.4       1.2       4.0       3.5  
    Non-cash stock compensation   1.9       1.1       5.8       3.1  
    Other expense, net   0.1       (0.6 )     0.8       0.8  
    Interest expense   2.6       3.3       9.3       9.5  
    Income tax expense   2.6       2.0       5.6       4.0  
    Noncontrolling interest   0.5       0.4       1.5       1.2  
    Adjusted EBITDA $ 14.3     $ 15.0     $ 43.8     $ 38.4  
                           
    Earnings per share:                      
    Basic $ 0.06     $ 0.09     $ 0.23     $ 0.26  
    Diluted $ 0.06     $ 0.10     $ 0.22     $ 0.26  
                           
    Non-GAAP net income per share:                      
    Basic $ 0.15     $ 0.22     $ 0.48     $ 0.47  
    Diluted $ 0.14     $ 0.22     $ 0.46     $ 0.46  
      Three months ended September 30,     Nine months ended September 30,  
    (in millions) 2024     2023     2024     2023  
    Net cash provided by operating activities $ 15.1     $ 30.1     $ 23.0     $ 29.5  
    Acquisitions of property and equipment   (4.0 )     (1.6 )     (11.2 )     (5.5 )
    Free cash flow $ 11.1     $ 28.5     $ 11.8     $ 24.0  
                                   

    NOTE REGARDING NON-GAAP FINANCIAL MEASURES

    CECO is providing certain non-GAAP historical financial measures as presented above as we believe that these figures are helpful in allowing individuals to better assess the ongoing nature of CECO’s core operations. A “non-GAAP financial measure” is a numerical measure of a company’s historical financial performance that excludes amounts that are included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow, as we present them in the financial data included in this press release, have been adjusted to exclude the effects of amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. Management believes that these items are not necessarily indicative of the Company’s ongoing operations and their exclusion provides individuals with additional information to better compare the Company’s results over multiple periods. Management utilizes this information to evaluate its ongoing financial performance. Our financial statements may continue to be affected by items similar to those excluded in the non-GAAP adjustments described above, and exclusion of these items from our non-GAAP financial measures should not be construed as an inference that all such costs are unusual or infrequent.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of CECO’s results as reported under GAAP. Additionally, CECO cautions investors that non-GAAP financial measures used by the Company may not be comparable to similarly titled measures of other companies.

    In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow stated in the tables above are reconciled to the most directly comparable GAAP financial measures.

    Non-GAAP measures presented on a forward-looking basis were not reconciled to the comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts. The GAAP measures are not accessible on a forward-looking basis because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. The unavailable information could have a significant impact on our GAAP financial results.

    SAFE HARBOR

    Any statements contained in this Press Release, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Part I – Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and may be included in subsequently filed Quarterly Reports on Form 10-Q, and include, but are not limited to: the parties’ ability to complete the proposed Profire transactions in the anticipated timeframe or at all, the occurrence of any event, change or other circumstance that could give rise to the termination of the Profire transaction agreement between the parties, the effect of the announcement or pendency of the proposed Profire transaction on business relationships, operating results, and business generally, disruption of current plans and operations and potential difficulties in employee retention as a result of the proposed Profire transaction, diversion of management’s attention from ongoing business operations as a result of the Profire transaction, the outcome of any legal proceedings that may be instituted related to the proposed Profire transaction, the amount of the costs, fees, expenses and other charges related to the proposed Profire transaction, the risk that competing offers or acquisition proposals will be made, the achievement of the anticipated benefits of the Profire transaction, the ability of Profire to achieve its 2024 earnings guidance, our ability to successfully integrate acquired businesses and realize the synergies from acquisitions, the sensitivity of our business to economic and financial market conditions generally and economic conditions in our service areas; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on our infrastructure, resources, and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty, or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; the substantial amount of debt incurred in connection with our strategic transactions and our ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; our ability to repurchase shares of our common stock and the amounts and timing of repurchases, if any; our ability to successfully realize the expected benefits of our restructuring program; our ability to successfully identify acquisition targets, integrate acquired businesses and realize the synergies from strategic transactions; and the unpredictability and severity of catastrophic events, including cyber security threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to our views as of the date the statement is made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise. 

    The MIL Network –

  • MIL-OSI USA: State investments to combat organized retail theft lead to arrest of over 10,000 suspects

    Source: US State of California 2

    Oct 28, 2024

    What you need to know: In late 2023, California distributed over $267 million to local law enforcement agencies and prosecutors across the state to combat organized retail and property crime. In the first nine months, local law enforcement agencies that received grants reported 10,000+ arrests for retail theft, motor vehicle theft, and cargo theft offenses.

    SACRAMENTO — California’s largest-ever single investment to fund local law enforcement efforts to combat retail and property crime continues to pay off. Today, the state reported that law enforcement agencies that received Organized Retail Theft grants have used the Governor’s investments totaling more than $267 million to make 10,138 arrests and to hire additional law enforcement officers and staff.

    “Local law enforcement agencies across California are using state funding and new laws to hold criminals accountable. In less than a year, we’ve seen over 10,000 arrests at the local level — on top of our statewide efforts. Together, we’ll continue advancing the effective tools and strategies that have driven down crime rates since the record highs of the 1990s.”

    Governor Gavin Newsom

    The Board of State and Community Corrections (BSCC) recently published the results of the third quarter ending June 30, 2024, of the Organized Retail Theft Prevention Grant and the Organized Retail Theft Vertical Prosecution Grant Program. The grants awarded to local law enforcement agencies and prosecutors throughout California fund efforts to hold thieves accountable. 

    Real results to combat theft 

    The Organized Retail Theft (ORT) Prevention Grant is a competitive funding initiative for city police, county sheriffs, and probation departments to combat retail, motor vehicle, and property theft. Through a $242 million state investment, 31 city police departments and seven sheriffs’ offices have increased arrests by 46% in the recent quarter, bringing total arrests to 10,138 suspects, including nearly 8,000 for organized retail theft. Additionally, 8,736 cases were referred for prosecution, while agencies hired new staff, implemented data collection tools, and reviewed racial bias policies for surveillance practices. The ORT Vertical Prosecution Grant, providing $24.8 million to 13 district attorneys’ offices, has led to charges against 1,643 organized crime suspects, with 467 people convicted so far. 

    Stronger enforcement. Serious penalties. Real consequences. 

    This follows Governor Newsom’s recent signing of the most significant bipartisan legislation to crack down on property crime in modern California history. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties for repeat offenders, provide additional tools for felony prosecutions, and crack down on serial shoplifters, retail thieves, and auto burglars.

    Local support to fight organized retail crime

    Governor Newsom has invested $1.1 billion since 2019 to fight crime, hire more police, and improve public safety. Today’s action builds on the Governor’s Real Public Safety Plan — which focuses on strengthening local law enforcement response, ensuring perpetrators are held accountable, and getting guns and drugs off our streets, including by deployment of California Highway Patrol to hot spots including Oakland, Bakersfield, San Francisco, and the newly announced partnership in San Bernardino. 

    More officers. More enforcement. 

    As part of Governor Newsom’s strategy to improve public safety, in 2022, CHP launched a multiyear recruitment campaign to fill 1,000 officer positions by hiring qualified individuals from California’s diverse communities. CHP is well on its way to meeting its goal. In the first six months of 2024, the CHP received more than 11,700 cadet applications – a 58% increase from the same period in 2022. The next CHP graduation is in November.

    The Governor’s investments in public safety are producing strong results. Last year, the California Highway Patrol reported an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety. And since January 2024, CHP’s Organized Retail Crime Task Force is on track to surpass the work in 2023, making 1,123 arrests and recovering more than $8 million worth of stolen goods. Though the year is still ongoing, the CHP has already surpassed the total investigations of any prior year and made more arrests than any year prior to 2023. Since the task force’s inception in 2019, the CHP has arrested more than 3,200 suspects, recovered over 880,276  stolen items worth over $46 million, and conducted 3,045 investigations. 

    Agencies taking down crime statewide

    The following are some examples of operations and efforts conducted by Organized Retail Crime grantee agencies during the third quarter of the grant cycle:

    • The Los Angeles County Sheriff’s Department retrieved approximately $4 million in stolen goods in separate investigations targeting multiple organized retail theft operations, including a complex multistate investigation of eight suspects who allegedly stole more than $2.5 million worth of items, a cargo theft bust out of Orange County recovering stolen cargo worth up to $1.2 million, and a North Hollywood criminal enterprise where more than 40 pallets of stolen merchandise was recovered.
    • The Ventura County Sheriff’s Department arrested dozens of suspects in blitz operations that resulted in the recovery of stolen merchandise and stolen vehicles, and the seizure of illicit drugs. 
    • The Costa Mesa Police Department collaborated with multiple regional partners to arrest three suspects involved in grand thefts of over $800,000.
    • The Los Angeles Police Department took down an organized group that carried out flash mob robberies at the Topanga Mall. 
    • The San Francisco Police Department conducted multiple citywide operations and coordinated with other grant recipients, including the Daly City Police Department, to take down organized retail theft crews and boosters. 
    • Multiple Bay Area law enforcement agencies, including the San Jose Police Department and the Campbell Police Department, worked with Home Depot to take down an organized retail operation and arrest 13 suspects. 
    • The Placer County District Attorney’s Office worked with the Roseville Police Department and the California Highway Patrol to locate and charge a suspect who was alleged to have stolen more than $17,000 from the Roseville Galleria Apple Store.

    The Santa Clara County District Attorney’s Office filed multiple cases in the grant period, including prosecuting 16 individuals following an investigation by the San Jose Police Department and the Santa Clara County Sheriff’s Office. Charges included conspiracy to commit organized retail crimes, burglary, and grand theft, in addition to conspiracy to commit violent offenses such as assault, kidnapping, torture, robbery, carjacking, criminal threats, drug trafficking, possession, and keeping of gambling machines. 

    Recent news

    Oct 28, 2024

    News What you need to know: Governor Gavin Newsom is launching a new California Highway Patrol (CHP) operation with the city of San Bernardino to address the city’s higher crime rates and gun violence. The Inland Operation team will assist the San Bernardino Police…

    Oct 27, 2024

    News What you need to know: California’s Film & Television Tax Credit Program has generated tens of billions of dollars in investments while creating nearly 200,000 jobs, and Governor Newsom is proposing to expand it to outpace other states and bring more business…

    Oct 26, 2024

    News Welcome to The California Weekly, your Saturday morning recap of top stories and announcements you might have missed. News you might have missed 1. KEEPING CALIFORNIANS SAFE Since Governor Newsom launched the CHP operation in partnership with the City of Oakland,…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom launches new CHP surge operation in San Bernardino to address violent crime

    Source: US State of California 2

    Oct 28, 2024

    What you need to know: Governor Gavin Newsom is launching a new California Highway Patrol (CHP) operation with the city of San Bernardino to address the city’s higher crime rates and gun violence. The Inland Operation team will assist the San Bernardino Police Department, similar to the CHP’s previous successful operations in Oakland, Bakersfield, and San Francisco.

    SAN BERNARDINO — Continuing the state’s ongoing efforts to support local hot spots throughout California to address crime and enhance public safety, Governor Newsom today announced a new CHP operation with the city of San Bernardino. The operation will place additional CHP personnel in the city to help clamp down on property theft and violent crime, including gun violence.

    “We are sending additional CHP support to help local law enforcement aggressively suppress criminal activity and provide this community with a new level of safety and accountability. Whether in the Bay Area, the Central Valley, or Southern California — we are monitoring and stand ready to step in and support local law enforcement to protect communities and keep Californians safe.”

    Governor Gavin Newsom

    “We are grateful to Governor Newsom for providing additional support from the California Highway Patrol to the City of San Bernardino,” said San Bernardino Mayor Helen Tran. “This year, our City Police Department’s efforts have led to a 13% reduction in violent crime, and the extra support will strengthen public safety in our community. With this new state and local collaboration in San Bernardino, we can continue to impact criminal enterprises targeting our neighborhoods and businesses.” 

    Recent data shows that San Bernardino’s violent crime rate is nearly double the statewide average, and its homicide rate is over three times the statewide average. San Bernardino’s vehicle theft rate remains one of the highest in the state. Local San Bernardino law enforcement also report increased traffic and street violations, including sideshows, that put public safety at risk.

    The CHP’s operation will add special law enforcement units on the ground and in the air — targeting sideshow activities and stolen vehicles. The CHP is also providing San Bernardino Police Department with additional investigative support to disrupt organized criminal activity and violent street gangs, get illegal guns off the street and help prevent gun violence.

    “Our partnership with the city of San Bernardino strengthens our efforts to enhance public safety,” said CHP Commissioner Sean Duryee. “This collaboration allows us to share resources, intelligence, and expertise, enhancing our ability to reduce crime and create a safer environment for all members of the community.”

    Statewide law enforcement support

    This builds on the CHP’s ongoing work with local law enforcement units through surges statewide, including in Oakland, San Francisco, and Bakersfield. Together, these operations have resulted in a total of more than 3,200 arrests, the recovery of nearly 3,000 stolen vehicles, the seizure of more than 170 illegal firearms, and illicit drugs, including fentanyl, taken off the streets.

    This also builds on the Governor’s efforts to assist local law enforcement directly through historic investments to address organized retail theft. Last year, Governor Newsom provided 55 local law enforcement agencies with more than $267 million to arrest and prosecute perpetrators of organized retail theft – leading to more than 10,000 arrests in just nine months. Additionally, through the CHP’s Organized Retail Theft Task Force, the state has arrested more than 3,200 suspects, recovered over 880,276  stolen items worth over $46 million, and conducted 3,045 investigations.

    Stronger enforcement. Serious penalties. Real consequences.

    California has invested over $1.1 billion to fund resources and personnel to fight crime, help locals hire more police, and improve public safety since 2019.  In 2023, as part of California’s Real Public Safety Plan, the Governor announced the largest-ever investment to combat organized retail crime in state history, an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety.

    This year, the Governor signed into law the most significant bipartisan legislation to crack down on property crime in modern California history. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties for repeat offenders, provide additional tools for felony prosecutions, and crack down on serial shoplifters, retail thieves, and auto burglars.  The Governor also signed into law a bipartisan package of bills to impose stricter penalties, increase accountability, and strengthen law enforcement’s ability to combat sideshows and deter illegal activities such as drifting, street racing, and blocking intersections.

    Press Releases, Public Safety

    Recent news

    Oct 27, 2024

    News What you need to know: California’s Film & Television Tax Credit Program has generated tens of billions of dollars in investments while creating nearly 200,000 jobs, and Governor Newsom is proposing to expand it to outpace other states and bring more business…

    Oct 26, 2024

    News Welcome to The California Weekly, your Saturday morning recap of top stories and announcements you might have missed. News you might have missed 1. KEEPING CALIFORNIANS SAFE Since Governor Newsom launched the CHP operation in partnership with the City of Oakland,…

    Oct 25, 2024

    News SACRAMENTO – Governor Gavin Newsom and First Partner Jennifer Siebel Newsom issued the following statement regarding the loss of Lt. Cmdr. Lyndsay P. Evans and Lt. Serena N. Wileman, naval aviators from California who perished in an aircraft crash near Mount…

    Oct 28, 2024

    What you need to know: Governor Gavin Newsom is launching a new California Highway Patrol (CHP) operation with the city of San Bernardino to address the city’s higher crime rates and gun violence. The Inland Operation team will assist the San Bernardino Police Department, similar to the CHP’s previous successful operations in Oakland, Bakersfield, and San Francisco.

    SAN BERNARDINO — Continuing the state’s ongoing efforts to support local hot spots throughout California to address crime and enhance public safety, Governor Newsom today announced a new CHP operation with the city of San Bernardino. The operation will place additional CHP personnel in the city to help clamp down on property theft and violent crime, including gun violence.

    “We are sending additional CHP support to help local law enforcement aggressively suppress criminal activity and provide this community with a new level of safety and accountability. Whether in the Bay Area, the Central Valley, or Southern California — we are monitoring and stand ready to step in and support local law enforcement to protect communities and keep Californians safe.”

    Governor Gavin Newsom

    MAYOR QUOTE

    Recent data shows that San Bernardino’s violent crime rate is nearly double the statewide average, and its homicide rate is over three times the statewide average. San Bernardino’s vehicle theft rate remains one of the highest in the state. Local San Bernardino law enforcement also report increased traffic and street violations, including sideshows, that put public safety at risk.

    The CHP’s operation will add special law enforcement units on the ground and in the air — targeting sideshow activities and stolen vehicles. The CHP is also providing San Bernardino Police Department with additional investigative support to disrupt organized criminal activity and violent street gangs, get illegal guns off the street and help prevent gun violence.

    CHP QUOTE 

    Statewide law enforcement support

    This builds on the CHP’s ongoing work with local law enforcement units through surges statewide, including in Oakland, San Francisco, and Bakersfield. Together, these operations have resulted in a total of more than 3,200 arrests, the recovery of nearly 3,000 stolen vehicles, the seizure of more than 170 illegal firearms, and illicit drugs, including fentanyl, taken off the streets.

    This also builds on the Governor’s efforts to assist local law enforcement directly through historic investments to address organized retail theft. Last year, Governor Newsom provided 55 local law enforcement agencies with more than $267 million to arrest and prosecute perpetrators of organized retail theft – leading to more than 10,000 arrests in just nine months. Additionally, through the CHP’s Organized Retail Theft Task Force, the state has arrested more than 3,200 suspects, recovered over 880,276  stolen items worth over $46 million, and conducted 3,045 investigations.

    Stronger enforcement. Serious penalties. Real consequences.

    California has invested over $1.1 billion to fund resources and personnel to fight crime, help locals hire more police, and improve public safety since 2019.  In 2023, as part of California’s Real Public Safety Plan, the Governor announced the largest-ever investment to combat organized retail crime in state history, an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety.

    This year, the Governor signed into law the most significant bipartisan legislation to crack down on property crime in modern California history. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties for repeat offenders, provide additional tools for felony prosecutions, and crack down on serial shoplifters, retail thieves, and auto burglars.  The Governor also signed into law a bipartisan package of bills to impose stricter penalties, increase accountability, and strengthen law enforcement’s ability to combat sideshows and deter illegal activities such as drifting, street racing, and blocking intersections.

    Press Releases, Public Safety

    Recent news

    Oct 27, 2024

    News What you need to know: California’s Film & Television Tax Credit Program has generated tens of billions of dollars in investments while creating nearly 200,000 jobs, and Governor Newsom is proposing to expand it to outpace other states and bring more business…

    Oct 26, 2024

    News Welcome to The California Weekly, your Saturday morning recap of top stories and announcements you might have missed. News you might have missed 1. KEEPING CALIFORNIANS SAFE Since Governor Newsom launched the CHP operation in partnership with the City of Oakland,…

    Oct 25, 2024

    News SACRAMENTO – Governor Gavin Newsom and First Partner Jennifer Siebel Newsom issued the following statement regarding the loss of Lt. Cmdr. Lyndsay P. Evans and Lt. Serena N. Wileman, naval aviators from California who perished in an aircraft crash near Mount…

    MIL OSI USA News –

  • MIL-OSI Russia: Moscow’s electrical equipment manufacturers increased production by 11 percent

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow manufacturers of electrical equipment continue to demonstrate high rates of growth in production volumes. From January to August 2024, enterprises in the industry increased production by 11 percent. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “Today, Moscow’s electrical engineering industry is represented by more than 130 enterprises – these are both large players with a long history and young companies. The industry employs 17 thousand people. On behalf of Sergei Sobyanin, the city offers manufacturers more than 20 support tools that allow them to expand their production base, create high-tech products and increase production volumes. In the first eight months of 2024, Moscow saw an 11 percent increase in electrical equipment production compared to the same period in 2023. Companies shipped goods worth almost 124 billion rubles to customers,” said Maxim Liksutov.

    From January to August 2024, the production of electric motors, generators, transformers and distribution devices, as well as control and measuring equipment, increased by 14 percent, and household appliances by 10 percent. In particular, Moscow industrialists manufactured over 513 thousand chandeliers, about 103 thousand signaling devices and equipment for ensuring the safety of transport infrastructure, and over 67 thousand DC electric motors.

    “The positive growth trend indicates that Moscow manufacturers are actively developing new markets and confidently meeting the needs of citizens and businesses for quality products. From January to August 2024, industrialists shipped cable products worth 28.7 billion rubles, generators, transformers, switchgear and control and measuring equipment – almost 67 billion rubles,” said the Minister of the Moscow Government, Head of the Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    Today, industrialists have all the tools to find a site for production with the support of the city, open it in a short time, attract additional investment, purchase the necessary equipment and enter export markets.

    For example, the company “SAGA Technologies” is actively developing the electric vehicle industry. Today, the plant produces 11 models of charging stations, which are supplied to 11 regions of the country. In the first eight months of this year, the company has produced more than 300 pieces of such high-tech products, which are used for both personal and commercial use.

    This year, the company received the status of a resident of the special economic zone (SEZ) “Technopolis Moscow”, which will allow it to enjoy tax preferences. Thus, companies with a special status are exempt from paying property, land and transport taxes for 10 years, and the profit tax rate for them is only two percent instead of 20.

    The capital manufacturer of lighting equipment “Varton” daily produces up to 10 thousand products of any type of lighting: indoor, outdoor, landscape, architectural, street and highway. Products are developed in the company’s own design bureau, including for individual customer needs.

    Moscow is the largest industrial and scientific-engineering center of Russia. There are more than 4.5 thousand industrial enterprises in the capital, employing over 750 thousand people. Every year, 150 new technology companies open in the city and dozens of investment projects are implemented, which provide it with additional jobs.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145853073/

    MIL OSI Russia News –

  • MIL-OSI: Legible Releases FrankensteinAI with Spellbinding AI Chat Feature Just in Time for Halloween

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — Legible (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) (“Legible or “the Company”), a pioneer in mobile-centric eBook and audiobook entertainment, is thrilled to announce the release of FrankensteinAI, the third in its groundbreaking AI Classics series. This innovative “Living Book” seamlessly blends Mary Shelley’s iconic novel with state-of-the-art technology, offering readers an unparalleled interactive experience. The classic horror tale releases in three volumes beginning October 28th.

    FrankensteinAI breathes new life into Shelley’s masterpiece through stunning interactive artwork by renowned digital artist Mr. Remo Camerota. Each animated illustration is a dynamic fusion of Camerota’s vivid imagination and advanced AI technology, capturing the eerie atmosphere of Victor Frankenstein’s creation and enhancing the storytelling in a visually captivating manner. Mr. Camerota’s collaboration with AI technology results in visuals that not only complement but also elevate the storytelling, making every image an integral part of the narrative journey.

    FrankensteinAI also introduces a revolutionary AI chat feature that allows readers to engage in real-time conversations with the novel’s characters. Victor Frankenstein and his Creature serve as AI-driven guides, enabling readers to delve deeper into their fears, desires, and motivations as they explore the narrative. This unique interactive feature allows readers to ask questions, unravel plot intricacies, and explore themes in a way that traditional reading cannot, blending classic literature with modern technology for a uniquely immersive experience.

    “Legible has meticulously preserved the essence of Mary Shelley’s Frankenstein, ensuring that the original text remains intact and true to Shelley’s intentions. Our goal with FrankensteinAI is to honor the original narrative while enhancing the reader’s experience through technology,” stated Kaleeg Hainsworth, CEO of Legible. “By integrating interactive AI features and Remo Camerota’s mesmeric artwork, we’ve created a Living Book that remains true to Shelley’s vision while offering a fresh, immersive way to engage with this classic tale.”

    Remo Camerota commented, “My vision for FrankensteinAI was to complement Mary Shelley’s original narrative with artwork that feels alive, echoing the Creature’s journey of discovery and isolation. Through the power of AI, these illustrations become part of the reader’s journey, evolving alongside their experience with the text.” Camerota further commented, “I am looking forward to further collaborations with Legible on bringing literature to life with my art.”

    In addition to FrankensteinAI, Legible’s other AI Classics and groundbreaking original publications, such as the My Model Kitchen Living Cookbooks by former supermodel and NYT-bestselling author Ms. Cristina Ferrare, with their embedded Sous Chef AI, are exclusively available to Legible Unbound members. Join now and gain access to these innovations plus millions of eBooks and audiobooks for only US$9.99 per month, unlocking a new world of enriched reading experiences.

    About Legible
    Legible is a trailblazing, mobile-centric global company specializing in eBook and audiobook entertainment. Through extensive partnerships with four of the Big 5 Publishers, the world’s largest eBook distributors, and outstanding publishers of all sizes, Legible delivers millions of eBooks and audiobooks, transforming any smart device into a source of cutting-edge infotainment.

    Recent releases include My Model Kitchen – Vol. 2: Vegetables – The Garden of Earthly Delights, the second of 15 video-enriched Living Cookbooks by former supermodel, bestselling author, TV host, and celebrity chef Cristina Ferrare, featuring an AI Sous Chef for each recipe. The Living Cookbooks and Ms. Ferrare have been featured in various major media outlets including twice on the very popular Drew Barrymore Show, where she dazzles viewers with her culinary expertise while utilizing the AI Sous Chef interactive component.

    As a first mover in the rapidly expanding automotive infotainment market, Legible has partnered with media providers Faurecia Aptoide, Harman Ignite, LiveOne, and Visteon. Legible boasts the only Android Automotive app that can deliver both audiobooks and eBooks to drivers and passengers in tens of millions of vehicles worldwide, positioning the Company at the forefront of in-car infotainment experiences.

    Legible won the 2024 EdTech Breakthrough Award for eLearning Innovation of the Year. Committed to reshaping the digital publishing landscape, Legible is poised to gain significant market share through its innovative 21st-century publishing solutions and enriched reading experiences. Visit www.legible.com to explore how eBooks come to life.

    About Remo Camerota
    Remo Camerota is a world-renowned multidisciplinary artist blending art, pop culture, and technology through a unique visual style. Recognized as one of the top 200 digital artists globally by Lürzer’s Archive Magazine (2020-2023) and with works exhibited alongside icons like Banksy, he’s earned acclaim as a leading NFT artist, generating over $6 million in revenue in 2021-2022. Over 30 years, he’s worked across various media, winning hundreds of awards for campaigns with brands like MTV, Nikon, and Toyota and collaborating with notable figures, including Val Kilmer and Scott Page. His company, Npact, has also supported charitable projects, such as raising funds for 2,000 computers for children in need. With exhibitions in renowned venues like the Louvre and Tate, his passion for boundless creativity and storytelling continues to impact global audiences.

    Contacts

    Legible Inc.
    Ms. Deborah Harford, EVP, Global Strategic Partnerships
    Tel.: +1-604-283-2028
    Email: invest@legible.com
    Website: https://invest.legible.com

    Krupp Kommunications, Inc.
    Ms. Kathy Giaconia, VP Media Relations
    Tel.: +1-213-324-5665
    Email: kgiaconia@kruppagency.com
    Website: www.KruppAgency.com

    Cautionary Note Regarding Forward Looking Information

    This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible’s control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98d32341-a97e-4b8c-b43a-c970ae023d46

    The MIL Network –

  • MIL-OSI United Kingdom: Unregistered boats on River Thames: fines and costs total £18,000

    Source: United Kingdom – Executive Government & Departments

    Clear warning to unregistered boat owners on the Thames as owners failed to register their boats despite warnings. More to face court in coming months

    Lindum, owned by Battersea boater Drystan Brod

    Staines magistrates’ court had a busy day on 22 October as 14 owners were sentenced to pay more than £18,000 for failing to register their boats for use on the River Thames.

    Environment Agency enforcement officers discovered these vessels during spot checks in December 2023 at Penton Hook Marina in Surrey. The inspection showed unacceptably high levels of registration evasion with a quarter of the boats in the marina, around 125 vessels, failing to have been registered. Every boat-owner was traced and given ample warning and opportunity to register their boats correctly.

    The court was told that all owners had skipped the annual registration fee, determined by the length and width of the boat. A couple of them had skipped it twice. Duncan Heyward and Tony Davies, both of Chertsey, were found guilty of owning two unregistered vessels and had to pay compensation accordingly.

    The highest charges were issued to Drystan Brod of Battersea for his boat, Lindum – more than £2300 including costs, fines, compensation and victim surcharge. Full details of all fines below.

    Colin Chiverton, environment manager for Surrey at the Environment Agency, said:

    This was a great day for the majority of Thames boat-owners who register their vessel with us every year. Just like us, they’re fed up with seeing this unlawful behaviour take place on the river every year. We’re pleased with this outcome, and it sends a clear warning to all unregistered boat owners – it’s just not worth the risk.

    At the end of November, we have another day in court with a further 14 owners facing the music. So, if you have an unregistered boat on the Thames, you should know that our enforcement teams are still out in October, patrolling the river and checking for valid registrations.

    Renewal invitation letters for 2025 registrations on the River Thames are to be sent in November to everyone that registered their boat this year and owners are encouraged to register early to ensure their boats are compliant by 1 January, when the new season starts. The Environment Agency’s approach to non-registration on the Thames has changed – boat-owners are given ample opportunity to register their boat. However, once a summons has been issued, it won’t stop court proceedings, even if the boat owner subsequently pays their registration fee.

    Similar to excise duty for road vehicles, boat registration fees allow the Environment Agency to manage and maintain more than 600 miles of inland waterways across England, keeping them open and safe for thousands of boaters to enjoy.

    Background:

    Owners of powered or non-powered boats, including paddleboards, must register their boats annually with the Environment Agency for use on the non-tidal River Thames.

    Boat registration on the Thames starts on 1 January every year. Any boats found on the water after that date, without having registered, may be liable to a fine.

    In mid-September 2024 during a river wide census, Environment Agency officers recorded the locations of 10,890 boats on the river.

    Boats can be registered by calling 03708 506 506 or going to River Thames: boat registration and application forms – GOV.UK (www.gov.uk)

    Offender/age/address/boat[s]/pleas/compensation order/costs/victim surcharge/fine

    Des Higgins, 64, of Graham Court, Northolt, Middlesex, PRINCESS BURFORD. Pleaded not guilty then changed plea at court to guilty. £803.60. £250. £80. £120.

    Stephen Hale, 54, of Bridge Court, Chertsey, Surrey. LADY RUTH. Found guilty in absence. £994.14. £275. £88. £220.

    Drystan Brod, 50, of Birley Street, Battersea, London. LINDUM. Found guilty in absence. £1724.00. £275. £88. £220.

    Duncan Hayward, 40, of Hill Rise, Richmond, Surrey. MAVERICK III/TT MAVERICK III. Found guilty in absence – 2 offences. £1065.15/£23.20. £275/nil. £24/nil. £60/NSP

    Mark Geeson, 53, of Gaston Way, Shepperton, Middlesex. PORTIA. Found guilty in absence. £970.47. £275. £88. £220

    Tony Davies, 70, of St Annes Road, Chertsey, Surrey. BULTRUG/REDWATCH. Pleaded guilty at court – 2 offences. £923.13/£887.64. £250/nil. Nil/nil. No separate penalty/NSP.

    Andrew Graham, 53,  of Wellington Terrace, Basingstoke, Hampshire. BUSTAROON. Found guilty in absence. £757.44. £275. £88. £220.

    Hugo Handford, of Chichester Road, West Wittering, West Sussex. DAJA. Found guilty in absence. £331.00. £275. £88. £220.

    Tim Cartwright, 64, of Elder Road, Bisley, Surrey. CHARLIE BEN. Found guilty in absence. £678.44. £275. £88. £220.

    Brian Harvey, 60, of Queens Road, Hersham, Surrey. SEA DANCER. Found guilty in absence. £520.74. £275. £88. £220.

    Scott Cole, 52, of Grafton Road, Acton, London. ALKYON. Found guilty in absence. £284.04. £275. £88. £220.

    Lee Davis, 49, of Meadow View, Chertsey, Surrey. TUBS. Found guilty in absence. £473.40. £275. £88. £220.

    Maciej Firla-Cuchra, 49, of The Broadway, Laleham, Surrey. JEWNA. Found guilty in absence. £426.06. £275. £88. £220.

    David Harding, 73, of Easton, Wells, Somerset. Le BATEAU DE BOIS. Pleaded not guilty, then changed plea at court to guilty. £736.02. £275. Nil. NSP.

    Contact us:

    Journalists only: 0800 141 2743 or communications_se@environment-agency.gov.uk.

    Updates to this page

    Published 28 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI China: Chinese supply chain expo to promote global industrial cooperation

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

    BEIJING, Oct. 28 — The second China International Supply Chain Expo will be held in Beijing from Nov. 26 to 30, and will focus on promoting international cooperation in industrial and supply chains, a Chinese trade official said on Monday.

    As the world’s first national-level exhibition focusing on supply chains, the expo aims to connect upstream, midstream and downstream sectors, bring together enterprises of various sizes, and help companies better integrate into global industrial and supply chains, said Zhang Shaogang, deputy director of the China Council for the Promotion of International Trade, at a press conference.

    This year’s expo will feature more than 600 domestic and foreign exhibitors. Overseas exhibitors will constitute 32 percent of participants at the 2024 expo, up from 26 percent at the first expo held last year, Zhang said.

    U.S. companies will contribute the largest share of overseas participation at the expo this year, while the number of participants from Europe and Japan will also significantly surpass that of the first expo, Zhang added.

    This shows foreign investors remain optimistic concerning the outlook of the Chinese market and that China is still considered their top supply chain partner for global resource allocation, said Zhang.

    Similar to last year, the expo will have areas dedicated to supply chains for clean energy, smart vehicles, digital technology, healthy living, green agriculture and supply chain services.

    In addition, this year’s expo has introduced a new exhibition area dedicated to advanced manufacturing chains — showcasing the latest achievements in the integration of technological and industrial innovation.

    Unlike many expos, the supply chain expo is not about showcasing products. It is, instead, about presenting chains, ecosystems and scenarios, Zhang added.

    Rather than focusing on short-term transactions, it emphasizes long-term cooperation and common development among upstream, midstream and downstream enterprises, Zhang explained. Exhibitors attend not to compete for clients, but to join hands and seek partnership.

    Hungary is the guest country of honor at this year’s expo. The Hungary Pavilion will showcase Hungary’s leading industries, unique resources, cultural heritage, beautiful landscapes and national brand image.

    MIL OSI China News –

  • MIL-OSI Security: Grand Bay-Westfield — 18-year-old man arrested in connection with firearm-related incident

    Source: Royal Canadian Mounted Police

    An 18-year-old man from Grand Bay-Westfield, N.B., has been arrested following a firearm-related incident in Grand Bay-Westfield, N.B.

    On October 24, 2024, at approximately 5:25 p.m., members of the Grand Bay-Westfield RCMP responded to a complaint of a man with a firearm on River Valley Drive in Grand Bay-Westfield.

    When police arrived at the scene, they were able to quickly identify a person of interest. Shortly after, the 18-year-old man was arrested without incident near his parked vehicle. A firearm was also seized as part of the investigation.

    The man was later released on conditions pending a future court appearance.

    At the time, police believed the incident to have been isolated, and that there was no danger to the general public. No one was injured at the time of the incident.

    The investigation is ongoing.

    MIL Security OSI –

  • MIL-OSI: Ozop Capital Partners, Inc. Enters Agreement with Empire Auto Protect

    Source: GlobeNewswire (MIL-OSI)

    Empire Auto Protect to White Label the Fully Charged VSC as EMPIRE PLUS

    Warwick, NY, Oct. 28, 2024 (GLOBE NEWSWIRE) — OZOP Capital Partners, Inc., a wholly owned subsidiary of Ozop Energy Solutions, Inc. (OZSC or the “Company”), announces the execution of a White Label Agreement with Empire Auto Protect, a leading provider of comprehensive protection and aftermarket products to the automotive industry.

    Under the agreement, Empire will white label the Royal Administration’s Fully Charged Vehicle Service Contract, incorporating their own branding as Empire Plus. OZOP Plus will be providing battery protection and will be ceded the battery portion of all premiums sold through Empire. Empire’s version of the Fully Charged VSC will offer the same enhanced features and benefits of the Fully Charged VSC to their extensive customer base through their well-established marketing programs.

    The benefits of this white-label agreement are that Empire can immediately go to market with their branded version of the Fully Charged VSC and will also use Royal Administration as the Third-Party Administrator (the “TPA”) for any claims. Royal provides their TPA services for processing claims through their claims center. This seamless integration of services ensures that consumers and dealerships will experience a smooth and efficient claims process, further enhancing their overall experience.

    Brian Conway, CEO of Ozop Plus stated, “This agreement opens new revenue opportunities for OZOP Plus, from Empire’s comprehensive national marketing network which sees a monthly average of 5,000 + vehicle service policies written nationwide. This expansion allows the Fully Charged VSC to be accessible to new and current EV owners in addition to our total of 7,000+ dealerships, consolidating the strengths of both Royal Administration, Ozop Plus, and Empire within the automotive industry.”

    Empire Auto Protect, a trusted name in the automotive market, boasts a remarkable 17-year track record of offering a wide variety of top-rated vehicle service protection plans. As they launch a new Electric Vehicle product, the company is equally enthusiastic about integrating the Fully Charged VSC into their existing portfolio. This move aims to fortify their position in the market and provide their customers with a comprehensive suite of offerings to protect and enhance their electric vehicles.

    Robin and Michael Isaac Kassin, CEO & CFO of Empire Auto Protect talked about the partnership with Ozop Plus: “With this collaboration, we’re leveraging Empire Auto Protect’s cutting-edge digital technology to meet the evolving needs of today’s drivers. We’re excited to lead the warranty sector into a new era of efficiency and accessibility. Through our partnership with OZOP Plus, we will become the leading provider for EV and hybrid vehicles for all automotive warranty needs. This partnership will give customers access to a large network of fully charged Vehicle Service Contracts, offering the best warranty options tailored to each consumer, giving all drivers the peace of mind they deserve.”

    About Ozop Energy Solutions.

    Ozop Energy Solutions (Ozop Energy Solutions (http://ozopenergy.com/) is the flagship company that oversees a wide variety of products in various stages of development in the renewable energy sector. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

    About Empire Auto Protect

    Empire Auto Protect is at the forefront of transforming the auto warranty landscape by integrating cutting-edge technology into every aspect of our services. Much like how Apple revolutionized consumer electronics and Tesla redefined automotive innovation, we are setting new standards in the warranty sector.

    Our advanced digital platforms streamline the warranty process, making it more efficient and user-friendly for customers. By harnessing data analytics and seamless online tools, we empower consumers with tailored warranty solutions that meet their unique needs. This commitment to innovation not only enhances customer experience but also positions Empire Auto Protect as the leading technology provider in the automotive warranty industry, driving it into a new digital age.

    https://empireautoprotect.com/

    About Automated Room Controls, Inc.

    Also known as ARC, Inc. its mission is to deliver cutting-edge technology that simplifies complex control needs, ensuring seamless integration and exceptional performance. We aim to lead the industry by continuously innovating and providing solutions that meet the evolving demands of our customers. Our vision is to make control systems smarter, more efficient, and more accessible to everyone.

    www.ARControl.com

    About Ozop Energy Systems, Inc.

    Ozop Energy Systems is a manufacturer and distributor of Renewable Energy products in the Energy Storage, Solar, Microgrids, and EV charging Station space. We offer a broad portfolio of Renewable Energy products at competitive prices with a commitment to customer satisfaction from selection, to ordering, shipping, and delivery.

    About Ozop Engineering and Design

    Ozop Engineering and Design engineers’ energy efficient, easy to install and use, digital lighting controls solutions for commercial buildings, campuses, and sports complexes throughout North America. Products include relays panels, controllers, occupancy/vacancy sensors, daylight sensors and wall switch stations. Ozop has a dedicated design team that produces system drawings and a technical support group for product questions and onsite system commissioning. Our mission is to be recognized for our deep understanding of power management systems and ability to provide the right solution for each facility.

    www.ozopengineering.com

    About Ozop Capital Partners

    Ozop Capital Partners, Inc. is a wholly owned subsidiary of the Company, and wholly owns EV Insurance Company, Inc. (“EVIC”). EVIC, DBA Ozop Plus is licensed as a captive insurer that reinsures. www.OzopPlus.com

    https://twitter.com/OzopEnergy

    https://www.facebook.com/OzopEnergy/

    Safe Harbor Statement

    “This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.”

    Investor Relations Contact – Ozop
    The Waypoint Refinery, LLC
    845-397-2956
    Visit our Discord:
    https://discord.gg/waypoint

    The MIL Network –

  • MIL-OSI Security: Defense News: Brothers Join Navy Nuclear Engineering Program

    Source: United States Navy

    LOVELAND, Colo. (Aug 28, 2024) — Brothers Jacob Wheeler, 17, and Mark Wheeler, 19, of Loveland enlisted in the U.S. Navy’s nuclear engineering program this summer through Navy Recruiting Station Fort Collins. The brothers joined the Delayed Entry Program within weeks of each other with Jacob enlisting in July and Mark in late August. While their parents are unaware that Mark has joined, the brothers plan to surprise them at graduation with help from their recruiter, Aviation Electronics Mate 2nd Class Erika Bravo.

    The Wheeler brothers, born in Greeley and raised in nearby Kersey, come from a family rooted in hard work. Their father, an electrician, and their grandfather, a farmer, instilled in them a strong work ethic and an appreciation for hands-on skills. Jacob initially joined with plans to become a Navy SEAL and persuaded his brother Mark to enlist in the Navy’s nuclear engineering program, primarily for the educational benefits.
    “I convinced him,” Jacob said, adding that the nuclear program offers not only strong pay but also the potential for a high-paying career after their service.Mark, who was not initially set on joining the Navy, became intrigued by the technical education offered through the nuclear program.
    “They’ll teach me calculus, thermodynamics and nuclear physics,” he said. “That sounds fantastic!”

    Both brothers are excited about the educational opportunities. While Mark admits he isn’t fond of traditional schooling, he looks forward to the fast-paced, targeted learning environment of the Navy.
    “I don’t enjoy going to school,” Mark said, “but I love learning. This job is more about the knowledge than the pay for me.”

    After completing boot camp at Recruit Training Command in Great Lakes, Illinois, the Wheeler brothers will attend Nuclear Power School in Charleston, South Carolina. The school, which lasts about two years, will train them to operate and maintain nuclear reactors aboard Navy submarines and aircraft carriers. Upon graduation, both Jacob and Mark will be promoted to E-4 and receive their contract bonuses.
    Although both will attend Nuclear Power School, the brothers are unsure if they will be stationed together after training.

    “There aren’t a lot of nukes in the Navy, so they need to spread us out,” Jacob said, though he remains hopeful they will attend school together, as he believes Mark would make a great tutor.
    The brothers are slated to ship out in November, before Thanksgiving. Their cousin, who lives in Chicago, has already warned them about the harsh winter weather in the Great Lakes, but the brothers are eager to take on the challenge. Jacob is especially excited about life aboard a Navy vessel. “It sounds fun!” he said.

    Looking beyond their service, Jacob is already considering his future.
    “If I still need more money after the Navy, I’m sure there are many opportunities for nuclear engineers,” he said.

    Jacob has long-term goals that include entrepreneurship and working with cars, while Mark is excited about the skills and experiences he’ll gain during his Navy career.
    The brothers’ family is mostly supportive, though their older sister isn’t thrilled that her roommates will be leaving. The brothers, who live with their older sister, also have younger siblings who don’t live with them. They see their Navy service as a way to set a good example for their younger siblings and feel proud of the path they are taking.

    Pets also play an important role in the Wheeler household. Mark’s cat, Katie, will stay with his fiancée while he’s away, while Jacob’s ball python and pit bull puppy will stay with family members until he completes his training. Both brothers are eager to reunite with their pets after graduating from Nuclear Power School.
    The Wheeler brothers are confident their decision to join the Navy’s nuclear engineering program will open doors to exciting careers, both during and after their time in uniform. As they prepare to embark on this journey, they do so with pride and a strong sense of family legacy.

    Navy Talent Acquisition Group Rocky Mountain encompasses Colorado, Wyoming, Utah and parts of Idaho, Nebraska and Kansas. It provides Navy recruiting services from more than 30 dispersed offices across the region.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Pavement Parking Ban to be enforced from January 2025

    Source: Scotland – City of Perth

    This initiative is part of a broader effort to enhance pedestrian safety and prevent damage to pavements.

    The Transport (Scotland) Act 2019 prohibits pavement parking, double parking, and parking across dropped kerbs.

    A national campaign has been underway to raise awareness of these new regulations. The law aims to improve the safety of pedestrians, particularly those with mobility issues, visual impairments, and parents or carers with pushchairs.

    Additionally, pavements are not designed to bear the weight of vehicles, and persistent parking can cause significant damage.

    Local authorities now have the power to enforce this law and issue fines through Penalty Charge Notices (PCNs) of £100, reduced to £50 if paid within 14 days.

    Perth and Kinross Council will begin enforcing these new rules on January 6, 2025. However, advisory notices are now being issued to educate the public about the new legislation.

    Councillor Eric Drysdale, convener of Perth and Kinross Council Economy and Infrastructure Committee said: “Vehicles parked on pavements stop people from walking safely down streets and can be particularly hazardous for people with disabilities or those pushing prams or buggies, especially if they are forced onto the road to get by.

    “They can also cause damage to pavements, causing a trip hazard and are expensive to repair.

    “Councils have been able to enforce the ban on pavement parking since last year. We’ve reviewed around 2,000 streets in Perth and Kinross and will be focusing our efforts on those area where we know it is a particular problem for residents.

    “But our hope is that people will be aware of the new rules and will park appropriately and safely so there is little need to issue fines.”

    Cindy Godfey-McKay, chair of the Centre for Inclusive Living in Perth, said: “Pavement parking is a complex problem that can cause real problems for pedestrians, but particularly for wheelchair users, people with mobility or visual impairments and those with prams or buggies.

    “The difficulty for me, being registered blind, with approximately 15% residual vision, and regularly using a wheelchair, due to rheumatoid arthritis, is that if there is a vehicle is on the pavement, I don’t see it until the last minute, then I have the difficulty of knowing where the next drop kerb is, to go down and around the vehicle.

    “This could mean me having to go along the road for quite a distance, as I can’t see where the drop kerb is to go back up onto the pavement, after the vehicle. This is a very difficult and dangerous thing to have to do.”

    Certain exceptions to the ban are permitted under the Act. These include:

    • Police, ambulance, Scottish Fire and Rescue Services, HM Coastguard, or naval or air force purposes.
    • Roadworks, removal of traffic obstructions, waste collection by local authorities, or postal services.
    • Urgent or emergency health care by registered medical practitioners, nurses, or midwives.
    • Assistance at an accident or breakdown.
    • Delivering or collecting goods, provided the vehicle is parked for no longer than necessary (up to 20 minutes).

    Incorrect parking on footways, double parking, and parking at dropped crossings can be reported using the My PKC service. While every report will be reviewed, the Council may not always be able to attend every street where incorrect parking is reported

    MIL OSI United Kingdom –

  • MIL-OSI Global: Why do we use gasoline for small vehicles and diesel fuel for big vehicles?

    Source: The Conversation – USA – By Michael Leamy, Woodruff Endowed Professor of Mechanical Engineering, Georgia Institute of Technology

    Green pump for diesel, blue for gas – but what’s the difference? Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images

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

    Why do we use gasoline for small vehicles and diesel fuel for big vehicles? – Methdini, age 15, Sri Lanka

    Gasoline fuels most light-duty vehicles, such as passenger cars and pickup trucks. Heavy-duty vehicles, like buses, delivery trucks and long-haul tractor-trailers, typically run on diesel.

    Both fuel types are needed because gasoline and diesel engines have different strengths. As my automotive engineering students learn, this makes them suitable for different uses.

    Let’s start with what they have in common. Gas and diesel engines both work through a process called internal combustion.

    • First, they mix fuel with air because the fuel needs oxygen from the air to burn.

    • Next, they compress the fuel-air mixture, which makes the mixture hot enough to burn.

    • Then the engine burns the mix of fuel and air, releasing heat. This creates high pressure, which moves internal parts that make the car move.

    • Finally, the car releases spent combustion gases to the atmosphere through its tailpipe. These gases contain pollutants, such as carbon monoxide, nitrogen oxides and unburned fuel, that are harmful to human health, as well as carbon dioxide, which warms Earth’s atmosphere.

    How a gas-powered internal combustion engine converts chemical energy in gasoline into kinetic energy that makes the car move.

    Different engines for different jobs

    Gasoline and diesel fuel are both made from crude oil, a fossil-based energy source. But they have different chemical properties that require different types of engines.

    In a gas engine, a small device called a spark plug ignites the compressed fuel-air mixture. It uses hundreds of thousands of volts to create an electrical arc that can start the burn, much like striking a flint rock against another stone.

    Diesel fuel is harder to ignite and slower to burn than gasoline. But if it is compressed enough, it will ignite without a spark. And this higher compression results in higher efficiency, so vehicles powered with diesel get more miles per gallon. That’s important for transporting goods and people as economically as possible – one reason why most buses, trains and large trucks run on diesel.

    Diesel engines tend to be more expensive than gas engines, since they need sturdier parts to withstand the higher temperatures and pressures they produce. But they also last longer than gasoline engines. This is a plus for vehicles such as long-haul trucks that need to go many hundreds of thousands of miles between engine overhauls.

    So why do passenger cars use gas? One reason is that diesel engines’ higher compression and temperature make them noisier, especially at higher frequencies that humans find annoying. Diesel engines also produce higher levels of fine particle pollution, known as PM 2.5, that has been linked to many human health risks.

    These trade-offs typically lead consumers to prefer cheaper, quieter gasoline engines in cars they drive for work and pleasure. Efficient, long-lasting diesel engines are more attractive to companies hauling goods and transporting large numbers of people.

    Beyond internal combustion engines

    In the future, transportation may not use gas or diesel at all. Some cars and light trucks – models known as hybrids – already use gas or diesel together with batteries and electric motors, or run entirely on electricity. And cities across the U.S. are investing in electric school buses, which are lower-polluting and cheaper to maintain than diesel buses.

    Hybrid, plug-in hybrid and battery electric vehicles promise to result in far fewer emissions of toxic gases and carbon dioxide – especially if they are recharged with electricity produced from renewable sources like wind and solar power. These vehicles will be quieter than gasoline and diesel models and also cheaper to maintain, since they have fewer moving parts. Gasoline and diesel vehicles will remain in use for years to come, but they no longer represent the forefront of transportation innovation.

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

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

    Michael Leamy receives funding from the National Science Foundation, the Department of Energy, General Motors, and other government agencies and corporations.

    – ref. Why do we use gasoline for small vehicles and diesel fuel for big vehicles? – https://theconversation.com/why-do-we-use-gasoline-for-small-vehicles-and-diesel-fuel-for-big-vehicles-235084

    MIL OSI – Global Reports –

  • MIL-OSI USA: This Week in NJ – October 25th, 2024

    Source: US State of New Jersey

    Governor Murphy Highlights More Than $1 Billion Investment in Child Care Sector

    Governor Phil Murphy highlighted that his Administration has invested more than $1 billion in expanding access to high-quality, affordable child care across New Jersey. The Governor also announced an additional $17 million in funding for the New Jersey Economic Development Authority (NJEDA) Child Care Facilities Improvement Program. With these new resources, New Jersey is dedicating more than $140 million to improve child care infrastructure, representing one of the largest investments of any state in the country. The announcement was made at a child care center in West Orange that is expanding access to services thanks to funding from the NJEDA. 

    Building on the Murphy Administration’s comprehensive strategy to support the state’s vital child care sector, the NJEDA’s Child Care Facilities Improvement Program provides grants to eligible child care providers for improvements that contribute to high quality early childhood learning environments. Through the program, which awards grants of up to $200,000, the NJEDA has approved $85 million in grants to over 400 child care centers that collectively enroll over 34,000 children and employ over 8,500 staff. With the inclusion of new funding announced, the NJEDA now anticipates another 200 centers will receive awards, bringing the total to more than 600 child care centers across all 21 New Jersey counties. Nearly a third of all awards are to centers located in Opportunity Zones.

    “Affordable, exceptional child care is a vital part of a stronger and fairer New Jersey economy, and the increased funding announced today will strengthen our state’s economic security and provide equitable opportunities to working parents,” said Governor Phil Murphy. “Increased access to high-quality child care allows more parents to return to the workforce, bolstering New Jersey’s economic growth and competitiveness. Thank you to the Biden-Harris Administration, who have provided record-high federal funding to expand access to child care, health care, and other critical resources for families in the Garden State.” 

    With the additional $17 million in Federal American Rescue Plan State Fiscal Recovery Fund funding announced, the NJEDA anticipates being able to approve all eligible child care centers that applied to Phase One of the program, which is no longer accepting new applications. A significant focus of the program is expanding or unlocking capacity within child care centers, especially for infants and toddlers. All construction work is delivered by New Jersey Department of Labor Registered Public Works Contractors and subject to prevailing wage and affirmative action monitoring.

    READ MORE

    New Jersey Slated to Get a Total of $168M for Water Infrastructure

    The U.S. Environmental Protection Agency (EPA) announced $3.6 billion in new funding under the Biden-Harris Administration’s Bipartisan Infrastructure Law (BIL) to upgrade water infrastructure and keep communities safe. New Jersey is slated to get more than $168 million for drinking water and wastewater improvements – including the $44 million that was announced as part of EPA’s announcement of the Lead and Copper Rule Improvements earlier this month. This BIL funding will help communities across the state upgrade water infrastructure that is essential to safely managing wastewater, protecting local freshwater resources, and delivering safe drinking water to homes, schools, and businesses. 

    These Bipartisan Infrastructure Law funds will flow through the Clean Water and Drinking Water State Revolving Funds (CWSRF and DWSRF), a long-standing federal-state water investment partnership. This multibillion-dollar investment will fund state-run, low-interest loan programs that address key challenges in financing water infrastructure. This announcement includes allotments for New Jersey’s Bipartisan Infrastructure Law Clean Water General Supplemental funds totaling $101 million, Emerging Contaminant funds totaling $8.7 million, and $13.6 million in funds under the Drinking Water Emerging Contaminant Fund. 

    “We are grateful to the Biden-Harris Administration, New Jersey’s congressional delegation, and the Environmental Protection Agency for their continued support in helping us build a cleaner and healthier Garden State through the Bipartisan Infrastructure Law,” said New Jersey Governor Phil Murphy. “This newly announced funding will help New Jersey communities with the vital tasks of ensuring that everyone in New Jersey has access to clean, safe drinking water and protecting and improving water quality throughout the state. These critical investments in our environmental infrastructure will help protect our citizens from lead and forever chemicals in drinking water, support proper management of wastewater and stormwater to protect our surface and ground waters, and create good-paying jobs for New Jerseyans.”

    READ MORE

    Governor Murphy Announces Planned Innovation Center Based in Newark

    Governor Phil Murphy announced that the New Jersey Economic Development Authority (NJEDA) and the New Jersey Innovation Institute (NJII), a corporation of the New Jersey Institute of Technology (NJIT), have launched the NJII Venture Studio, the state’s latest Strategic Innovation Center (SIC). The NJII Venture Studio will focus on accelerating and commercializing intellectual property with a focus on high technology and information technology developed by NJIT, NJII and NJIT’s corporate partners, as well as other academic institutions who contribute to the advancement of the industry. This will be the seventh SIC in New Jersey announced under the Murphy Administration.

    “Since I took office, my administration has been laser focused on positioning New Jersey as a national leader in innovation and technology development,” said Governor Phil Murphy. “The NJII Venture Studio, our seventh Strategic Innovation Center, will provide aspiring entrepreneurs with access to cutting-edge technology and the chance to collaborate with industry experts. This exciting initiative reinforces New Jersey’s reputation as a hub for innovation and research and the tremendous expertise within our state’s research universities.”

    NJII, a non-profit subsidiary corporation established by NJIT in 2014, will operate and manage the Studio. The NJEDA and NJII have entered into a non-binding term sheet to establish the creation, funding, and management of the Venture Studio with an opportunity to make equity investments into participating companies. The Studio, which will be located in the Paul Profeta Center for Innovation and Entrepreneurship in Newark, will seek to launch two to three start-ups a year over a four-year period.

    The Venture Studio will provide emerging companies with necessary business training, operating services, physical space, and management guidance to transform their research into commercially viable products and services. Pending approval by its Board, the NJEDA intends to invest $5.8 million into the project on a 1:1 basis with NJII, with program funding for the Venture Studio totaling $11.6 million.

    READ MORE

    Lt. Governor Way, Attorney General Platkin, and OHSP Director Doran Announce Safeguards to Protect the Right to Vote During the 2024 General Election

    Lieutenant Governor Tahesha Way, Attorney General Matthew J. Platkin, and New Jersey Office of Homeland Security and Preparedness (NJOHSP) Director Laurie Doran announced that the State of New Jersey will be taking a multi-pronged approach to help ensure that the 2024 General Election is fair, transparent, secure, and runs smoothly. Among the efforts highlighted are the Division of Elections Voter Information project and the Department of Law and Public Safety’s (LPS) Voter Protection Initiative.

    Presidential general elections see the highest voter participation numbers, and it is important for voters to know what to expect. New Jersey law contains many checks and balances to protect the right to vote, and the State has implemented measures that prioritize voting integrity and safety.

    “As chief election official, I am proud to work with my state and federal law enforcement and security colleagues to support our county election officials as they administer free and fair elections for all New Jersey voters,” said Lieutenant Governor Tahesha Way, who leads the New Jersey Division of Elections in her capacity as Secretary of State. “Together, we ensure that our elections are safe, secure, and free from interference. Every New Jersey voter can prepare to participate in this election by visiting vote.nj.gov and making their plan to vote.”

    “New Jersey is fully prepared to quickly and decisively identify and resolve any issues related to voting,” said Attorney General Matthew J. Platkin. “Voting is the cornerstone of our democracy and a fundamental right. We will do everything in our power to ensure every eligible voter can exercise their right to participate in the democratic process without interference.”

    “Year round, the New Jersey Office of Homeland Security and Preparedness collaborates with local, state, and federal partners through the Election Security Task Force to protect our elections and uphold our democratic processes,” said NJOHSP Director Laurie Doran. “As we prepare for the 2024 presidential election, NJOHSP and the Task Force are focused on ensuring New Jersey’s public safety and election officials are equipped to handle all threats and hazards, whether physical or cyber, foreign or domestic.”

    READ MORE

    New Jersey Board of Public Utilities Announces Adoption of Minimum Filing Requirements for Medium-and-Heavy-Duty Electric Vehicles

    The New Jersey Board of Public Utilities (NJBPU) announced on Wednesday the adoption of minimum filing requirements (MFRs) that direct the state’s investor-owned electric distribution companies (EDCs) to propose programs to expand charging access for medium-and-heavy-duty (MHD) electric vehicles (EVs) and fleets. The expansion of New Jersey’s EV charging ecosystem will catalyze the ongoing clean transition of the state’s fleet, yielding significant greenhouse gas (GHG) emissions reductions within the state’s transportation sector and improving localized air quality.

    New Jersey’s transportation sector accounts for nearly 40% of the state’s net GHG emissions, with MHD trucks and busses emitting an outsized share of those emissions. Low-income neighborhoods and communities of color are more likely to be exposed to these pollutants due to their disproportionate proximity to freight corridors, ports, and distribution centers. The adopted MFRs allow utilities to provide additional “bonus” incentives for overburdened municipalities and overburdened communities adjacent to Freight EV Corridors, as well as small businesses.

    “Today’s announcement by the BPU is a key part of my Administration’s whole-of-government approach to reducing harmful emissions from the transportation sector that negatively impact the health of our residents,” said Governor Phil Murphy. “Along with New Jersey’s action on Advanced Clean Trucks and the Clean Corridors Coalition, we are building a robust charging infrastructure for a clean transportation future.”

    “Under Governor Murphy’s leadership and in coordination with New Jersey’s EDCs, the NJBPU remains at the forefront of advancing smart, clean transportation initiatives and infrastructure that provide considerable health and environmental benefits,” said NJBPU President Christine Guhl-Sadovy. “These benefits are especially vital to the overburdened communities that have borne the brunt of air pollution and its health effects for far too long.”

    READ MORE

    MIL OSI USA News –

  • MIL-OSI Russia: Marat Khusnullin: Almost 5.5 million schoolchildren took part in the fifth All-Russian online Olympiad “Safe Roads”

    Translation. Region: Russian Federation –

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

    The All-Russian online Olympiad “Safe Roads” is held with the support of the national project “Safe High-Quality Roads”. Schoolchildren in grades 1–9 test their knowledge of road safety rules in a game format. From September 24 to October 27, almost 5.5 million schoolchildren took part in the Olympiad, Deputy Prime Minister Marat Khusnullin reported.

    “Reducing road accidents is a task that is included in the national goal “Comfortable and safe living environment”. And a special priority of our work is child safety. In the context of growing traffic flow and expansion of the country’s road network, knowledge of traffic rules is becoming extremely important. The All-Russian online Olympiad “Safe Roads”, which is held with the support of the national project “Safe High-Quality Roads”, has proven itself as an effective tool for educational work. The online competition helps students in grades 1-9 test their level of road literacy and deepen their knowledge. The event received a great response from children and parents. This year, almost 5.5 million schoolchildren took part in it, which is 10% more than last year. And over five years, the total audience has exceeded 20.8 million participants,” said Marat Khusnullin.

    The Deputy Prime Minister added that the leaders in the number of students who took part in the Olympiad were the Ivanovo, Tambov, Belgorod, Tula regions, as well as the Republic of Mordovia.

    Using real road situations as an example, the Olympiad participants analyzed how to behave correctly as a pedestrian and a passenger, as well as behind the wheel of bicycles and personal mobility devices (PMD). The most difficult tasks during the Olympiad were those about bicycles and PMDs, including electric scooters. Only a fifth of the Olympiad participants coped with them. The schoolchildren coped best with the tasks on safe behavior in a car and public transport vehicles – 81% and 61%, respectively.

    “Work to instill in children and teenagers the skills of safe behavior on the road is not only talks in schools and at home, lectures and street events held by the State Traffic Safety Inspectorate. It is also a very effective format in terms of assimilation of information, an Olympiad in which schoolchildren of different ages from all over Russia participate. It is easier to get acquainted with the rules of the road in the format of tasks and specific answers due to the clear structure of the material presentation. I am sure that everyone who has at least once passed the tests of the All-Russian online Olympiad “Safe Roads”, transfers theoretical knowledge to real road conditions, turning into very responsible pedestrians, and in the future, drivers,” said the head of the State Traffic Safety Inspectorate of the Ministry of Internal Affairs of Russia, Police Lieutenant General Mikhail Chernikov.

    Not only knowledge of traffic rules, but also good roads help to improve road safety. Work at sites is usually carried out in a comprehensive manner: specialists not only update the road surface, but also equip elements of the road infrastructure – pedestrian crossings, traffic lights, barriers, road signs, markings, photo and video recording cameras.

    “Every day, children go to school, attend extracurricular activities, and one of our priorities is to make these routes safer. Over the past six years, more than 5,000 road sections leading to children’s educational and leisure institutions have been repaired in Russian regions under the national project “Safe High-Quality Roads”. These are streets in populated areas, as well as sections of regional and inter-municipal roads on which school buses travel,” commented Roman Novikov, head of the Federal Road Agency.

    The organizers of the Olympiad are the Ministry of Transport, the State Traffic Safety Inspectorate of the Ministry of Internal Affairs of Russia and the National Priorities ANO with the support of the Ministry of Education.

    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 Europe: ASIA/PHILIPPINES – Special fundraising campaign for the victims of Typhoon ‘Kristine’

    Source: Agenzia Fides – MIL OSI

    Caritas Manila

    Manila (Agenzia Fides) – The Apostolic Vicariate of Calapan collected donations for those affected by Typhoon Kristine (international name: Trami) during Sunday Mass, to express its concrete closeness to the people, families and communities seriously affected by the tropical storm that hit the eastern Philippines.Parishes and religious communities joined the fundraising campaign yesterday, October 27, and called on the faithful to participate. “In the spirit of fraternal solidarity and ecclesial synodality, special collections will also be carried out in Catholic schools and institutions in the coming days,” announced the Apostolic Vicar, Bishop Moises M. Cuevas. “We ask parishes to extend their generosity by allocating a certain amount from the general parish fund. In addition, we ask that a personal appeal be made to wealthy families, organizations, associations, movements and possible donors within the jurisdiction of each parish, directly requesting financial support from them,” said Bishop Cuevas, referring to the situation of families who have lost everything. In view of the devastating situation on the ground, the Philippine Bishops’ Conference, through its national Caritas, has launched a fundraising appeal to help affected families and communities in the ecclesiastical districts that encompass the area of the Bicol Region, including the Vicariate of Calapan, the Dioceses of Caceres and Camarines Sur. As reported, the donations will help provide much-needed assistance to those affected by the typhoon. Father Marc Real, Executive Director of Caritas Caceres, reported that the main roads leading to the city of Naga remain flooded, hampering the mobility of residents and the delivery of humanitarian aid. The violent tropical storm “Kristine” had hit the country in recent days, devastating most of the provinces in the Bicol region, causing thousands of deaths and damaging their livelihoods. According to the National Disaster Risk Management (NDRRMC), in addition to 136 who have lost their lives (and the number is rising), about 190,000 families, totaling more than 970,000 people, including the elderly, women and children, were displaced by the floods and inundations caused by the cyclone. Pope Francis yesterday, October 27, during the Angelus prayer with the pilgrims and faithful gathered in St. Peter’s Square said: “I am close to the population of the Philippines, struck by a powerful cyclone. May the Lord support that people, so full of faith.” (PA) (Agenzia Fides, 28/10/2024)
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  • MIL-OSI Europe: AMERICA/HAITI – Celebration in Pourcine for access to drinking water and the launch of the Scout movement of the Catholic Church

    Source: Agenzia Fides – MIL OSI

    Monday, 28 October 2024

    Pourcine (Agenzia Fides) – While Haiti remains immersed in a deep crisis, the small mountain town of Pourcine has found reasons to celebrate: the arrival of drinking water and the launch of its first group of Scouts of the Catholic Church.“In the parish of Our Lady of Help, 70 children, young people and adults have participated in the inauguration of the KIRO movement, a Catholic branch of Scouts. It was a weekend of training, games and songs,” said Father Massimo Miraglio, Camillian missionary and parish priest of this community in the mountainous hinterland of Jérémie, to Fides.Meanwhile, the construction of the aqueduct continues with the help of the local population, who transport materials, often on foot and barefoot, despite the climatic difficulties. “Although the bad weather has slowed down the work, we have reached the water tanks,” reports Father Miraglio. “While the connection of the reservoirs and the main pipeline to the springs of Pourcine is being completed, residents have begun to drink water from a temporary pipeline, a moment of celebration for the community that can now access clean water close to their homes.”“All this always with hope and with the aim of building an increasingly united, supportive and willing to work together Christian community,” concludes the Camillian.Returning to the social context of the entire Caribbean country, local agencies report that after a period of relative calm, the “Viv Ansanm” gang coalition has intensified its attacks in the suburbs of the capital in recent days, where they now control up to 80% of the capital. This violence has aggravated food insecurity, with transport routes blocked and the countryside taken over by gangs. Despite the approval of the UN Security Council to deploy a multinational force to support the Haitian police, the operation lacks the resources and personnel necessary to deal with the crisis. The Haitian transitional government has asked that this force be transformed into a UN Blue Helmets peacekeeping mission, but this initiative has not gone ahead. In addition, gangs that previously mainly attacked Haitian police, militias and government infrastructure now appear to be targeting foreign mission vehicles.Amid this chaos, forced displacement has also increased. More than 10,000 Haitians left their homes in the last week alone, and last September the number of displaced is estimated to have exceeded 700,000, almost doubling in just six months. (AP) (Agenzia Fides, 28/10/2024)
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  • MIL-OSI NGOs: Healing hands: A Sudanese doctor’s account story Oct 23, 2024

    Source: Doctors Without Borders –

    Dr. Mohamed Bashir has worked in several Doctors Without Borders/Médecins Sans Frontières (MSF) projects in Sudan, including supervising medical activities at the MSF-supported Umdawanban and Alban Aljadeed hospitals in Khartoum state. He is currently working with MSF in South Sudan, where more than 800,000 Sudanese refugees and returnees have fled over the course of the war. Our teams are providing comprehensive care at several facilities and camps in Twic county and Abyei administrative area. Below, he shares his reflections on the impact of the war in Sudan, and calls for continued attention on the conflict. 

    By Dr. Mohamed Bashir, Sudanese medical staff member with MSF in Warrap state, South Sudan

    Do you remember me? I am Dr. Mohamed Bashir, MSF’s former deputy medical coordinator in Sudan. I once wrote a reflection“  in which I shared my firsthand experience of the civil war—not only as a medical humanitarian but as a Sudanese person.

    I’m still with MSF, but now on an assignment in South Sudan, across the border from home. Although I’m physically far away, the effects of the war are ever-present, pulling me back with every news update as I compare the devastation that I hear of with the global news headlines that seem to barely notice. 

    A family sits at the Abyei transit center, which currently hosts around 200 Sudanese refugees. Due to flooding, the center no longer has access to drinking water, latrines, or showers, as water and sanitation trucks are unable to reach the area.
    South Sudan 2024 © Aurélie Lécrivain/MSF

    Sudan and its suffering people have slipped down the world’s list of priorities—forgotten by the media, neglected by political will, and overlooked by the humanitarian donor institutions that should be putting this catastrophe front and center. I ask myself: What can I do as an individual? My resolve is clear—I will continue to support those crushed by this brutal war. 

    Here in Twic County in South Sudan, many of our patients are South Sudanese returnees who have been displaced twice in about a decade. Thousands of Sudanese refugees have also crossed into different parts of South Sudan, scattered in host communities or crowded into refugee camps.

    “I was in Darfur and had to flee in 2003. My journey took me to Nyala, and now, escaping from there, I’ve arrived here,” said Ahmed, who lives at a UNHCR transit center for Sudanese refugees.
    South Sudan 2023 © Sean Sutton/Panos pictures

    I know this pain

    This war continues to torment us, tearing families apart. Those fleeing Sudan share the same stories of loss, uncertainty, and fading hope for peace. I know this pain too well.

    Internal borders and front lines controlled by warring parties have sliced through a nation where lives are being lost, homes destroyed, and livelihoods wiped out. 

    As for the people—us—we are left alone.

    Sudan and its suffering people have slipped down the world’s list of priorities—forgotten by the media, neglected by political will, and overlooked by the humanitarian donor institutions that should be putting this catastrophe front and center.

    My family escaped Khartoum, among the millions displaced, not once but several times in just 18 months. They left everything behind, with no clear path to survival and little attention from the world. We are still suffering from the disappearance of a relative of mine, a civilian taken from his home by a warring party over 10 months ago. We have no news—no information about his health or whether he will ever be released.

    Even for those who escape the violence or reunite after separation, new challenges arise—floods, disease outbreaks—under a collapsed health care system. Most hospitals lie destroyed. Those that remain functional are marooned without medicine, staff, or resources. This is deliberate deprivation; a cruel tactic of war. 

    Surviving on the bare minimum, people have been left waiting for a miracle, yet more displacement, or even worse: death.

    The MSF-supported Bashair hospital in south Khartoum received over 60 wounded patients and 43 deaths after an explosion in a market on September 10, 2023.

    Do not turn away

    Despite all this, I’m here to share our resilience. As humanitarians—medics, logisticians, and nurses—we do everything we can to support those in need. Every small act matters, and every effort counts.

    This is exactly what I’ve been doing for the past months in Twic as the MSF project medical referent at Mayen Abun County Hospital. The area was already overwhelmed by humanitarian needs, having witnessed previous internal displacement of thousands of South Sudanese uprooted due to inter-communal violence in Agok in 2022. It’s a place where the health system has collapsed, burdened by malaria, hepatitis E, and malnutrition.

    MSF’s work in South Sudan

    MSF continues to collaborate with the South Sudanese Ministry of Health to run surgical and emergency medical activities in the only secondary health care facility in the Abyei Special Administrative Area.

    Due to ongoing inter-communal violence in South Sudan and the toll of the war in Sudan, MSF teams in Abyei and Twic are handling a continuous influx of violence-related surgeries. From January to June 2024, MSF conducted 16,885 emergency consultations and performed 1,914 surgical operations. Of these, 815 patients required care for violent trauma, including gunshot wounds, blast injuries, and stabbings. Despite these efforts, there remains a significant shortage of hospital care in this region, along with limited surgical capacity and operating theater availability.

    The work here provides a window into another dimension of my country’s war. I see firsthand the dire conditions faced by those who forced to flee Sudan. What astonishes me even more is how overlooked this crisis remains—there is so little mainstream knowledge about the displacement of Sudanese people to South Sudan, Chad, and other countries, despite the overwhelming needs of families seeking refuge.

    We live in a time of escalating crises—both manmade and natural. The casualties of today’s wars, in different places and contexts, are almost too tragic to comprehend. 

    Amid all this, I plead with the world: Do not let Sudan slip from your attention. At times, it feels as though no one cares, as if Sudan has been deliberately deprioritized by the global decision makers, pushed aside for other crises. How much longer can we tolerate this inaction?

    MIL OSI NGO –

  • MIL-OSI USA: FACT SHEET: One Month Following Hurricane Helene, Biden-⁠ Harris Administration Spearheads Ongoing Recovery Efforts and Support for  Survivors

    US Senate News:

    Source: The White House
    Since Hurricane Helene’s destructive landfall one month ago, the Biden-Harris Administration has mobilized a Federal response that has provided hundreds of millions of dollars in financial assistance to survivors, substantial debris removal and power restoration, and a sustained commitment to long-term recovery efforts. As President Biden and Vice President Harris have said, their Administration will be with the people across the Southeast and Appalachia no matter how long it takes.
    Thus far, the Administration has approved over $2.1 billion in Federal assistance for those affected by Hurricane Helene, as well as Hurricane Milton, which made landfall in Florida shortly after Helene.
    This includes over $1 billion in assistance for individuals and families to help pay for housing repairs, personal property replacement, and other recovery efforts. To date, the Administration has also approved over $1.1 billion in Public Assistance funding to support local and state governments. This funding is primarily being used to support debris removal, as well to pay for emergency protective measures like surging first responders and providing shelter, food, and water during and after the storms.
    President Biden, Vice President Harris, and senior leaders across the Administration have spoken with and coordinated closely with Governors, Senators, Representatives, Mayors, and other state and local elected officials in impacted states before, during, and after the storms. The President, Vice President, FEMA Administrator Deanne Criswell, and multiple cabinet members and other Administration leaders have been in impacted states to meet with state and local counterparts, survey damage, assess what additional Federal support should be prioritized, and meet with first responders and survivors. 
    On October 26, White House Homeland Security Advisor Liz Sherwood-Randall traveled to North Carolina to coordinate recovery efforts with Governor Roy Cooper, FEMA, and philanthropic partners on the ground. She underscored the Biden-Harris Administration’s commitment to innovative partnerships that can speed recovery and rebuilding — through collaboration with state and local officials, the private sector, non-governmental organizations, and philanthropic donors—for as long as it takes.
    Nearly 5,000 Federal personnel remain deployed to North Carolina and Florida, working side-by-side with state and local officials, to help survivors get what they need to accelerate their recovery.
    For communities affected by Helene, FEMA has delivered over 11 million meals and 9.6 million liters of water. FEMA now has 65 Disaster Recovery Centers open throughout all of the affected communities to provide survivors with in-person assistance with more opening each day. As of October 27, there will be 21 Disaster Recovery Centers open in North Carolina. Power and cellular service are restored for 99 percent of customers in impacted areas.
    As communities begin their road to rebuilding, the Administration continues to provide support and resources, including:
    Defense Personnel Supporting On-The-Ground Recovery
    Throughout Hurricane Helene response operations, the National Guard and Department of Defense have been engaged in the whole-of-government response efforts across the impacted areas. Members of the North Carolina National Guard, together with active duty servicemembers and guardsmen from 15 other states, have conducted more than 1,200 ground missions and more than 400 air missions in coordination with the state of North Carolina, and under the direction of the Dual Status Commander. 
    These efforts delivered more than 13,500 tons of humanitarian aid overland, and nearly another 2,000 tons through the air. This includes 614,881 gallons of bulk water, 4,331 pallets of bottles of water, and 3,108 pallets of food. Service members were active in route clearance – clearing hundreds of miles of roads, which enabled increased access to some of the hardest hit areas of the state.
    From the onset of this mission, the primary goal of active-duty Department of Defense Title 10 personnel and equipment was to provide immediate, short-term assistance to aid the most urgent response efforts. As of last week, Governor Cooper determined that the active-duty troops were no longer needed for this phase, and active-duty service members transitioned their mission to the National Guard and returned to their home bases. The National Guard, working with FEMA, and other Federal, state, and local partners, will remain actively engaged to address ongoing needs, rebuild infrastructure, and aid communities in long term recovery.
    The National Guard has roughly 2,000 Guardsmen, 65 high-water vehicles, and 7 helicopters still mobilized across seven states for the response to Hurricane Helene.
    The U.S. Army Corps of Engineers has more than 450 personnel engaged in missions across six states – supporting debris removal, temporary power, infrastructure assessments, , and safe waterways assessments. 
    Supporting and Protecting Public Health
    The U.S. Department of Health and Human Services (HHS) through the Centers for Medicare & Medicaid Services (CMS) is taking action to support providers and suppliers impacted by Hurricane Helene. These providers and suppliers may face significant cash flow issues from the unusual circumstances impacting facilities’ operations, preventing facilities from submitting claims and receiving Medicare claims payments. As a result of the presidential disaster declaration, and HHS public health emergencies declared in the wake of Hurricane Helene, CMS made available accelerated payments to Medicare Part A providers and advance payments to Medicare Part B suppliers affected by Hurricane Helene beginning October 2, 2024. CMS has also made available certain flexibilities related to provider and supplier fee-for-service Medicare debt.
    Following storm damage from Hurricane Helene at Baxter International Inc.’s North Cove facility in North Carolina, the Biden-Harris Administration continues taking action to support access to IV fluids, including ensuring restoration of key production sites, protecting products, and opening imports, in partnership with manufacturers, distributors, hospitals, and other stakeholders. As a result of these steps, Baxter anticipates restarting the highest-throughput IV solutions manufacturing line within the next week. The Biden-Harris Administration also moved quickly to open up imports from six facilities around the world and made it easier for hospitals to produce their own IV fluid during the shortage.
    Supporting Students and Student Loan Borrowers
    The U.S. Department of Education (ED) is partnering with disaster-declared states to determine the extent of impacts to educational communities; identify gaps in resources for response and recovery; and share critical resources to help restore learning conditions. These resources include Project SERV, which provides funding for local educational agencies and institutions of higher education that have experienced a traumatic crisis, including weather-related natural disasters, to assist in restoring a safe learning environment. 
    ED is ensuring affected borrowers in areas impacted by the hurricanes can focus on their critical needs without having to worry about missing their student loan payments. Direct Loan borrowers and federally-serviced Federal Family Education Loan (FFEL) borrowers in the affected area who miss their payments will be automatically placed into a natural disaster forbearance. During forbearance, payments are temporarily postponed or reduced, and interest is still charged. Thanks to regulations issued by the Biden-Harris Administration, months in this forbearance will count toward Public Service Loan Forgiveness and Income Driven Repayment forgiveness. Direct Loan and federally serviced FFEL borrowers are not required to take an action, but have the option to call their servicer if they wish to enroll in the forbearance proactively. Perkins loan borrowers should contact their loan holder to request natural disaster forbearance. 
    ED continues to monitor impacts to schools in the affected states, including school closures, damage to school buildings including ongoing utility outages, schools being used as shelters, and the number of displaced students and staff. ED is sending an assessment team to North Carolina this coming week to evaluate damages and work with the state to develop a plan to get students back into classrooms as quickly as possible. In parallel, ED is closely communicating with the leadership of 531 Title IV-participating institutions, across Florida, Georgia, South Carolina, North Carolina, Tennessee, and Virginia due to impacts associated with Hurricane Helene. ED has also posted electronic announcements, reminding impacted institutions of available regulatory flexibilities, and providing guidance on managing Title IV student aid during disaster situations. 
    Supporting Farmers, Agriculture, and Consumers
    The Department of Agriculture (USDA), in coordination with approved insurance providers, announced more than $233 million to help farmers recover from hurricane damage during the fall harvest season. Currently, Hurricane Helene indemnities are estimated to be nearly $208 million for Georgia, nearly $13 million for Florida, $5 million for Alabama, and more than $4 million each for North and South Carolina.  
    To date, USDA has approved Disaster Supplemental Nutrition Assistance Program (D-SNAP) benefits to help eligible residents cover the cost of groceries in 112 counties in Georgia, Florida, North Carolina, and Tennessee. D-SNAP is a program focused on getting food assistance to those in need for people in communities affected by disasters, who may not otherwise be eligible.
    Supporting Infrastructure and Transportation Recovery
    Since Hurricane Helene made landfall, the Environmental Protection Agency (EPA) has been committed to helping water utilities and health departments in Florida, Georgia, South Carolina, Tennessee, and North Carolina as they work around the clock to bring clean, safe drinking water back to communities impacted by the storm. EPA and its state and local partners have made significant progress restoring drinking water and wastewater services in a vast majority of communities. In Western North Carolina, EPA has deployed two mobile water testing labs. EPA has received and analyzed approximately 700 samples, giving residents clear data about the safety of their drinking water. In addition to water testing, EPA has collected approximately 1,000 containers with oil, hazardous materials, or propane since clean-up efforts began in North Carolina.  
    The U.S. Department of Transportation (DOT) continues to support response and recovery efforts in impacted communities in Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia. The Federal Aviation Administration (FAA) worked with partners in affected areas to ensure the national airspace quickly returned to normal operations. The FAA deployed personnel to conduct vital infrastructure assessments and restore communications to impacted towers and airports, including Asheville Regional Airport in North Carolina and ongoing work at Valdosta Regional Airport in Georgia, among others. Approximately 133 personnel from Technical Operations and the communications support team remain on the ground supporting a range of response and restoration activities.
    The Federal Highway Administration (FHWA) sent $144 million in “Quick Release” Emergency Relief funding to North Carolina, South Carolina, Tennessee, and Virginia. These funds represent a ‘down payment’ to help with the immediate aftermath of the hurricane. Additional funding will be flowing to affected communities from the Emergency Relief program pending availability of funds. FHWA also worked closely with all impacted states and other federal agencies to help support their assessments of infrastructure damage.
    Providing Financial Flexibilities to Homeowners, Renters and Taxpayers
    The Department of Housing and Urban Development is providing a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA) as well as foreclosures of mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee program. The moratorium and extension are effective as of the President’s disaster declaration date in each state. When homes are destroyed or damaged to an extent that reconstruction or complete replacement is necessary, HUD’s Section 203(h) program provides FHA insurance to disaster victims, including renters. Borrowers from participating FHA approved lenders are eligible for 100 percent financing including closing costs. HUD’s Section 203(k) loan program enables individuals to finance the purchase or refinance of a house, along with its repair, through a single mortgage. Homeowners can also finance the rehabilitation of their existing homes if damaged. FHA is coordinating and collaborating with the Federal Housing Finance Agency, Department of Veterans Affairs and the Department of Agriculture to ensure consistent messaging and policies for single family loans regarding foreclosure moratoriums and repayment/arrearage agreements. Additionally, affected homeowners that have mortgages through Government-Sponsored Enterprises – including Fannie Mae and Freddie Mac – and the FHA are eligible to suspend their mortgage payments through a forbearance plan for up to 12 months.
    The Internal Revenue Service announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. In addition, the Internal Revenue Service provided more than 1,000 employees to help with FEMA disaster relief call lines and intake initial information to help disaster victims get federal relief. IRS Criminal Investigation agents were also on the ground in devastated areas to help with search and rescue efforts and other relief work – including assisting with door-to-door search efforts.
    Supporting Workers and Worker Safety
    Working alongside the Department of Labor, the States of Florida, North Carolina, South Carolina, and Tennessee have all announced that eligible workers can receive federal Disaster Unemployment Assistance to compensate for income lost directly resulting from Hurricane Helene. And, through the Department of Labor’s innovative partnership with the U.S. Postal Service, displaced workers from North Carolina and South Carolina can now go to the post office in any other state and verify their ID for purposes of getting their benefits quickly.
    Additional Response and Recovery Efforts
    The U.S. Small Business Administration (SBA) has offered over $51 million in tentatively approved disaster loan funding to survivors of Hurricanes Helene and Milton. The SBA also has hundreds of staff working on the ground supporting communities in Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia in disaster recovery centers, as well as in loan processing and customer service centers that are fielding around 15,000 calls a day with an average wait time of 15 seconds. The SBA is continuing to process disaster loan applications while it awaits Congressional action to replenish their disaster loan funds.

    MIL OSI USA News –

  • MIL-OSI USA: Lankford’s Legislation to Save Taxpayer Dollars by Reusing Excess Federal Property Signed into Law

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford

    OKLAHOMA CITY, OK – The Reuse Excess Property Act introduced by Senators James Lankford (R-OK) and Gary Peters (D-MI) has been signed into law. The bill will hold agencies more accountable to the public on how they reuse excess personal property.

    “This is not that hard. Use the stuff you already have before you buy more stuff. When federal agencies just buy more, before they use what we already have, it shows a lack of commitment to saving taxpayer dollars. The federal government is already the largest single buyer of goods and services in the world, so we need to prioritize good stewardship and effective use of property the government has already purchased,” said Lankford. “From paper clips to automobiles, Oklahoma families and businesses make decisions every day about how to use what they have before spending more money. We should always look for ways for the federal government to save more money and waste less time.”   

    “Agencies should always consider reusing excess goods like office supplies, equipment, and vehicles rather than buying them new, and this law will ensure they do just that,” said Peters. “This law will hold the federal government more accountable by ensuring they only spend taxpayer dollars on essential items. The American people know what it means to be frugal and reuse what they own: it’s time federal agencies do the same.”  

    Federally-owned personal property includes physical items such as office supplies, furniture, automobiles, and heavy machinery. The federal government is the largest purchaser of goods and services in the world, and this law will ensure agencies are looking to excess property—available at no cost apart from any necessary transportation—before buying new products in order to save taxpayer dollars.   

    The Reuse Excess Property Act will update existing requirements for agencies to report their excess personal property to the General Services Administration (GSA) by making those reports available to the public as well. This would help agency officials and taxpayers better understand the extent to which agencies are working to cut wasteful spending through the use of excess property. The bill also requires agencies publicly report on their guidance on the use of excess personal property and designate an employee to be responsible for searching through available excess personal property for items that meet agency needs. 

    MIL OSI USA News –

  • MIL-OSI Security: Rockford Man Sentenced to 35 Years in Federal Prison for Sex Trafficking

    Source: United States Department of Justice (Human Trafficking)

    ROCKFORD — A Rockford man has been sentenced to 35 years in federal prison for sex trafficking.

    TRAVIS THOMAS, 34, was convicted in June of sex trafficking, including multiple counts of coercing and transporting the victim across state lines to engage in prostitution.  U.S. District Judge John J. Tharp, Jr. imposed the sentence Friday during a hearing in federal court in Rockford.

    The sentence was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.  The Rockford Police Department, Hoffman Estates, Ill. Police Department, and Winnebago County, Ill. Sheriff’s Office assisted in the investigation.  The government was represented by Assistant U.S. Attorneys Vincenza L. Tomlinson and Jessica S. Maveus, and former Assistant U.S. Attorney Monica V. Mallory.

    In 2017 and 2018, Thomas targeted the victim, supplied her with crack cocaine that kept her dependent on him, and manipulated her drug addiction to force and coerce her to engage in commercial sex acts for Thomas’s financial benefit. Thomas transported the victim to hotels in Rockford, Wisconsin, and Texas for the purpose of engaging in commercial sex acts.  Thomas also used and threatened physical violence against the victim to force and coerce her to continue to engage in commercial sex.  Thomas then kept all of the proceeds and spent it on himself and others, including a new vehicle, gambling, clothing, and food.

    In addition to the commercial sex, Thomas also used fraud and financial coercion to take the victim’s credit cards, file fraudulent tax returns and insurance claims in her name, empty her bank accounts, and sell her belongings.  The victim was finally able to escape in April 2018, with the help of an individual who took the victim to a hospital after she was severely beaten by Thomas.  While at the hospital, a trained nurse identified her as a victim of sex trafficking and called law enforcement.

    If you believe you are a victim of sexual exploitation, you are encouraged to contact the National Center for Missing and Exploited Children by logging on to www.missingkids.com or by calling 1 800-843-5678.  The service is available 24 hours a day, seven days a week.

    MIL Security OSI –

  • MIL-OSI Security: New Orleans Man Sentenced for Firearm and Drug Offense

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    NEW ORLEANS, LOUISIANA – JEREL CLAVO (“CLAVO”), age 36, of New Orleans, was sentenced on October 15, 2024 by U.S. District Judge Brandon S. Long to 62 months incarceration, five (5) years of supervised release, and a $200 mandatory special assessment fee, after previously pleading guilty to possession with the intent to distribute marijuana, in violation of Title 21, United States Code, 841(a)(1) and 841(b)(1)(D) (Count 1); and possession of a firearm in furtherance of a drug trafficking crime, in violation of Title 18, United States Code, Sections 924(c)(1)(A)(i) (Count 2).

    According to court documents, on November 27, 2021, the New Orleans Police Department (NOPD) received a call regarding shots being fired near North Claiborne Avenue and Columbus Street.  NOPD Officers arrived at the scene and discovered a deceased black female.  Officers learned that the victim had been riding in a gray Dodge Charger driven by CLAVO when she was shot.  An NOPD officer present at University Medical Center (UMC) saw CLAVO pull up outside the emergency room driving a gray Dodge Charger with several bullet holes in the front windshield.  CLAVO sustained multiple gunshot wounds, including to his neck and right arm.  NOPD Detectives executed a state search warrant for the Dodge Charger and located two firearms and marijuana inside the vehicle.  CLAVO admitted possessing the marijuana for later sale.  Additionally, CLAVO possessed the firearms to further his marijuana sales activities.

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

    The case was investigated by the Federal Bureau of Investigation and the New Orleans Police Department and prosecuted by Assistant U.S. Attorney Mike Trummel of the Violent Crime Unit.

    MIL Security OSI –

  • MIL-OSI Economics: Eddie Yue: Keynote address – Hong Kong FinTech Week 2024

    Source: Bank for International Settlements

    Good morning everyone. Welcome to the 9th Hong Kong FinTech Week, an annual event where vision, inspiration and innovation come together to shape the future of fintech.  It’s wonderful to welcome so many old and new friends today to discuss this exciting topic.

    This year’s theme is “Illuminating New Pathways in Fintech”. It captures where we are right now – at a critical juncture on our fintech journey.  We are seeing an unprecedented acceleration in financial development, fuelled by cutting-edge technologies.

    Having arrived at this point after marking a number of significant milestones along the way, it’s perhaps time to take stock and ask ourselves “What’s on the horizon for Fintech?”

    What we have learned from innovation and fintech

    Before I delve into that question, let’s revisit our overarching vision, which is to nurture a vibrant fintech ecosystem. Like instruments in an orchestra, so do individual players in the fintech ecosystem, whether they are agile start-ups or established institutions, each have their own parts to play. 

    But let’s be honest, a vibrant fintech ecosystem cannot be built overnight. Technology is continuously disrupting everything, including our financial markets.  For many of us, embracing change isn’t always easy, and sometimes the process of driving innovation may even feel uncomfortable and disorienting.  But change is often also a good opportunity to reflect on how we can innovate to better serve the greater good.

    Our Fintech 2025 strategy is a powerful testament to our commitment to innovation. Over the last few years, we have driven some positive transformations in our fintech ecosystem, and I would like to take the next few minutes to share three lessons we have learned along the way.

    First, innovation is not an end in itself, but a means to solve real-world problems. Whether it’s faster payments or better banking access for SMEs, technology is a means to help transform everyday experience and bring benefits to the real economy.  One area we’ve been focusing on is enhancing cross-border payments.  The link between our Faster Payment System (FPS) and Thailand’s PromptPay is one example, providing consumers with a seamless cross-border payment experience and bringing us closer to a world of truly borderless transactions.  Another example is the cross-boundary e-CNY pilot, which allows Hong Kong people to set up e-CNY wallets locally, with linkage to the FPS for cross-boundary payments.  Whether you are buying coffee in Bangkok or settling a bill in a Shenzhen restaurant, payment is as simple as if you were in Hong Kong.

    Another example is the use of technology to address long-standing pain points in the data ecosystem. By linking up isolated data islands and combining sources from the public and private sectors, we are expanding and diversifying our data network.  The linkage between HKMA’s Commercial Data Interchange and the Government’s data gateway is now fully operational, helping to address the industry’s need for government data which can be used to support the credit needs of SMEs.  

    The second thing we have learned is the need to be bold in driving innovation. We need to have an “explorer” mindset to try out innovative ideas even if they are only at a formative stage.  One good example is tokenisation, which is just taking shape as we pioneer different use cases and solutions with Project Ensemble to explore and define the tokenisation landscape.  Working with the industry, we hope to showcase how innovation and regulation can work together to create new opportunities for our financial markets. 

    But a major trend like this inevitably comes with a need for clear guidance and market confidence, and we value your feedback and views as we navigate this evolving landscape. That is why we have been engaging with market players through the Ensemble and stablecoin sandboxes to help us formulate regulatory requirements that are risk-based and fit-for-purpose.

    Our third lesson is the importance of collaboration. Innovation thrives when we come together – cross-sector and cross-border partnerships let us tap into network effects and our collective knowledge, while playing to our individual strengths.

    Numerous collaborations are underway between the HKMA, various jurisdictions, and fintech players from both local and global markets. These partnerships, big and small, have proved to be essential building blocks that support further progress.

    I’ve talked about the three lessons we’ve learned so far: focus on real-world problems, be bold and be collaborative. These lessons are steering us into the next phase of our fintech journey.

    “What’s on the horizon for fintech?”

    So what’s this next phase? While we have yet to chart out our Fintech 2030 Strategy, I can think of two areas that the HKMA should focus on in the next few years. 

    Our first area of focus is tokenisation, including the novel idea of “Finternet” coined by the Bank for International Settlements (BIS). Let me first make clear that tokenisation is not the same as crypto-assets.  There has been some confusion because they both ride on blockchain technology, but don’t mix them up.  Crypto-assets are mostly speculative and our stance is to let the market grow and develop while putting guardrails around it to protect investors.  Tokenisation, on the other hand, is an innovative way to record the value and ownership of money and assets in digital form on a programmable ledger.  This will make it much easier for individuals, corporates, and financial institutions to access and trade these assets, thereby creating a more inclusive ecosystem that benefits everyone, whoever and wherever they are.

    We believe that tokenisation has the potential to create hyper-connectivity among users, data, and services that is essential to drive economic progress. This calls for a visionary shift to align with the constant advances in technology.

    The BIS has also recently introduced the “Finternet” concept. This envisions an internet-like network of interoperable financial ecosystems that places individuals and businesses at the heart of financial interactions.    

    Many of the ideas and concepts from the “Finternet” resonate closely with the HKMA’s tokenisation project. We envision a future where tokenisation integrates seamlessly with financial and real-world assets, enabling operations and transactions otherwise impossible with today’s technology.  Now you might be wondering, how can something as virtual as tokenisation connect with tangible assets?

    Let’s look at trade finance. Imagine you’re an SME importing goods from overseas.  Traditionally, you’d face a mountain of paper documents, like bills of lading and invoices.  With tokenised electronic bills of lading, you can now transfer these digital assets to a financial institution in exchange for funding. 

    Unlike a mere PDF copy of a bill of lading, this approach allows you to track real-time shipment status on the blockchain, eliminates paper, reduces the need for verification, and lowers fraud risks. We are actively exploring this through the Ensemble Sandbox to resolve frictions in trade finance.

    Tokenisation also ties in with green and sustainable finance, as it may open up new business models and opportunities for businesses and investors. For example, tokenised carbon credits traded on blockchain offer better transparency and credibility in carbon data, helping us tackle the issue of double counting that bedevils carbon trading today. 

    Another example can be found in the infrastructure for the electric vehicle (EV) industry. By leveraging real-time data from EV charging stations, we can turn the energy generated into a tokenised revenue stream for institutional investors.  We are looking closely at this model, as it has the potential to be replicated in various settings, mobilising funds to support the transition to a low-carbon economy.

    Our second area of focus is Artificial Intelligence (A.I.) and data, which will help build a smarter and data-driven financial future for everyone. I would like to expand on those two keywords “Smarter” and “Data-driven”.  When I say “Smarter”, I’m talking about the need to promote digitalisation in the banking industry, while ensuring we have the right safeguards in place. 

    In recent years, the banking industry has been leveraging A.I. to promote efficiency, analyse data, and enhance customer experience. The HKMA stance is clear: we are committed to encouraging responsible A.I. adoption.  Back in 2019, we already outlined the high-level principles on the use of A.I. by banks, and this policy guidance remains relevant today.

    Then we see the explosive uptake of Generative A.I. (GenA.I.) in the past two years. GenA.I. has the potential to transform how financial institutions operate, innovate, and engage with their customers.  As we stand at the dawn of this revolution, the HKMA recognises the opportunity to provide more targeted support to accelerate GenA.I. development, by collaborating with the best minds from various sectors.  To achieve this, we have launched various cross-sectoral initiatives, including the FiNETech series, research projects, and training sessions, all aimed at expediting digital transformation.

    Financial institutions are actively exploring the vast potential of GenA.I., from risk assessment to anti-fraud measures and customer interactions. In August this year, we launched the GenA.I.  Sandbox in collaboration with Cyberport to unlock the full potential of tailored GenA.I.  applications catering to the unique needs of Hong Kong’s financial market.  This innovative platform allows banks to pilot GenA.I.  use cases in a risk-managed environment, complete with technical support and targeted supervisory feedback.

    As we move forward, the HKMA will take an interactive and iterative approach, carefully evaluating the results of the Sandbox trials and sharing best practices. We will also provide additional supervisory guidance as necessary to ensure that the adoption of GenA.I. promotes responsible innovation, while maintaining the integrity of the banking sector.

    So, what about “Data-driven”? The aim here is to harness the power of data to reinforce Hong Kong’s leading position as a smart digital economy, both locally and globally.  To do that, open data flow is key.  Domestically, our two initiatives – Commercial Data Interchange and Interbank Account Data Sharing – will continue to integrate data networks which used to run in isolated silos.  This will help simplify KYC and credit risk assessments, thereby helping SMEs secure bank financing more easily, faster, and hopefully more cheaply.

    Meanwhile, we are working closely with the Mainland to facilitate cross-boundary data sharing, first by expediting the pilot for cross-boundary credit referencing with Mainland credit reference platforms.  This will allow SMEs with cross-boundary operations to use this full set of credit data to enhance their access to bank financing.  Internationally, we are collaborating with the BIS Innovation Hub on Project Aperta, which aims to connect domestic open finance infrastructures across jurisdictions, to enable secure and consumer-consented sharing of financial data.   Seamless cross-border data portability will allow consumers to open overseas accounts much faster, and speed up international trade at reduced cost.

    Closing

    What the future may hold for us is uncertain, but we are committed to charting the next phase of financial innovation with continuing efforts in the two areas I just talked about: tokenisation and AI.

    Ultimately, we envision a borderless fintech ecosystem where innovation will drive business development.  To realise this vision, we must dream big and push the boundaries of what is possible.   Let’s all embrace the spirit of innovation and collaboration as we move forward together. 

    If we liken our Fintech journey to an orchestra playing a symphony, we are about to begin the next movement of our fintech symphony.  We don’t know whether it will be “allegro”, or “adagio”.  What we know is that the stage is already set, the instruments are tuned, and the world is waiting.  Hong Kong’s commitment to shaping a vibrant and dynamic financial future has never been stronger.

    Thank you and I hope you gain inspiration from the coming week.

    MIL OSI Economics –

  • MIL-OSI Russia: Denis Manturov visited the Republic of Belarus on a working visit

    Translation. Region: Russian Federation –

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

    The First Deputy Chairman of the Russian Government paid a working visit to the Republic of Belarus. Denis Manturov was received by the President of the country Alexander Lukashenko, held talks with the Prime Minister of Belarus Roman Golovchenko, and also visited a number of industrial enterprises.

    During his working visit to the Republic of Belarus, Denis Manturov was received by the country’s President Alexander Lukashenko

    October 28, 2024

    During his working visit to the Republic of Belarus, Denis Manturov was received by the country’s President Alexander Lukashenko

    October 28, 2024

    Denis Manturov visited the Republic of Belarus on a working visit

    October 28, 2024

    Previous news Next news

    During his working visit to the Republic of Belarus, Denis Manturov was received by the country’s President Alexander Lukashenko

    Alexander Lukashenko and Denis Manturov discussed issues of trade and industrial cooperation between Russia and Belarus. Trade turnover between the countries increased by more than 5% last year and reached almost 47 billion dollars. Positive dynamics also persisted in the first eight months of this year – mutual trade increased by 6% to 32.5 billion dollars.

    Russian enterprises continue to build up cooperation ties with Belarus. All regions of Russia are actively involved in the development of cooperation. Thus, only since the beginning of 2024, 42 regional delegations have visited the republic. In June of this year, the XI Forum of Regions of Russia and Belarus was successfully held in Vitebsk, in which 56 Russian regions took part.

    Denis Manturov emphasized that Russia is actively cooperating with Belarusian civil aircraft manufacturing enterprises to produce components. “This concerns both the Il-76 and Tu-214 aircraft. I expect that this trend will continue, and we will expand the aircraft line, the range, and the number of components,” said the First Deputy Prime Minister.

    At the meeting with Roman Golovchenko, issues of implementing a unified industrial policy of the Union State within the framework of the decree signed by Russian President Vladimir Putin and Belarusian President Alexander Lukashenko in January 2024 were also touched upon, including the issue of mutual access of industrial products of Russia and Belarus to state support instruments. The parties are working progressively in this direction.

    As part of his working trip, Denis Manturov visited the BelAZ OJSC enterprise, which is the world’s largest manufacturer of large and extra-large capacity quarry dump trucks, as well as other heavy transport equipment for the mining industry and construction. The plant, with about 9,000 employees, produces over 100 modifications of dump trucks with a carrying capacity of 30 to 450 tons. In 2023, products worth a total of about $880 million were delivered to Russia, including 904 units of equipment. The First Deputy Prime Minister inspected the main conveyor shop, visited the Museum of Labor Glory, and also got acquainted with innovative and serially produced models of equipment at the enterprise. One of them is the BelAZ-75304 dump truck with a carrying capacity of 220 tons, which consists of more than 90% Belarusian and Russian components.

    In addition, the First Deputy Prime Minister of Russia visited the joint Belarusian-Chinese enterprise SZAO Belgee, which produces passenger cars under the Belgee brand.

    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: Form 8.3 – [ECKOH PLC – 25 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ECKOH PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 25 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 20,172,436 6.9424    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 20,172,436 6.9424    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    10p ORDINARY SALE 280,730 41.375p
    10p ORDINARY SALE 14,345 42.05p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 25 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 25 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 10,006,374 1.2632    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 10,006,374 1.2632    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY SALE 9,000 92.2p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Security: Jury Convicts Mexican National of $4.7 Million Methamphetamine Heroin Conspiracy

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    KANSAS CITY, Mo. – A Mexican national who worked with a drug-trafficking organization tied to the Cárteles Unidos cartel in Michoacán, Mexico, was convicted by a federal trial jury today of his role in a $4.7 million conspiracy to distribute more than 335 kilograms of methamphetamine and 22 kilograms of heroin in the Kansas City, Mo., metropolitan area and throughout the United States.

    Luis Eduardo Pineda-Zarao, 29, a citizen of Mexico residing in Lebanon, Tennessee, was found guilty of participating in a conspiracy to distribute methamphetamine and heroin from Feb. 28, 2020, to June 1, 2022.

    The indictment alleges the conspiracy involved the distribution of more than 335.5 kilograms of methamphetamine, with an average street price of $300 per ounce, and more than 22.1 kilograms of heroin, with an average street price of $1,500 per ounce.

    During the investigation, federal agents with Homeland Security Investigations conducted two undercover bulk cash pickups totaling $308,775 and seized $610,400 in bulk cash, over 56 kilograms of methamphetamine, 5.5 kilograms of heroin, 2.6 kilograms of marijuana, and at least eight firearms, two of which were stolen. Law enforcement officers also seized $277,863 during a vehicle stop and $114,863 while executing search warrants at four Kansas City, Mo., residences.

    Pineda-Zarao is among 44 defendants charged in this case. Nine co-defendants have been sentenced and 34 co-defendants have pleaded guilty and await sentencing.

    Following the presentation of evidence, the jury in the U.S. District Court in Kansas City, Mo., deliberated for less than an hour before returning guilty verdicts to U.S. District Judge Greg Kays, ending a trial that began Monday, Oct. 21.

    Under federal statutes, Pineda-Zarao is subject to a mandatory minimum sentence of 10 years in federal prison without parole, up to a sentence of life in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

    This case is being prosecuted by Assistant U.S. Attorneys Patrick C. Edwards and Megan Baker. It was investigated by Homeland Security Investigations, U.S. Customs and Border Protection, the Drug Enforcement Administration, the Jackson County Drug Task Force, IRS-Criminal Investigation, the Kansas Bureau of Investigation, the Kansas City, Mo., Police Department, the Kansas City, Kan., Police Department, the Missouri State Highway Patrol, the Kansas Highway Patrol, the Independence, Mo., Police Department, the Minnesota Bureau of Criminal Apprehension, the Minnesota State Patrol, the Olmsted County, Minn., Sheriff’s Office, the Texas Department of Public Safety, the FBI, the Clay County, Mo., Sheriff’s Department, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the U.S. Marshals Service.

    Organized Crime and Drug Enforcement Task Force

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    KC Metro Strike Force

    This prosecution was brought as a part of the Department of Justice’s Organized Crime Drug Enforcement Task Forces (OCDETF) Co-located Strike Forces Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. This co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations against a continuum of priority targets and their affiliate illicit financial networks. These prosecutor-led co-located Strike Forces capitalize on the synergy created through the long-term relationships that can be forged by agents, analysts, and prosecutors who remain together over time, and they epitomize the model that has proven most effective in combating organized crime. The principal mission of the OCDETF program is to identify, disrupt, and dismantle the most serious drug trafficking organizations, transnational criminal organizations, and money laundering organizations that present a significant threat to the public safety, economic, or national security of the United States.

    MIL Security OSI –

  • MIL-OSI: GraniteShares Announces Reverse Split of NVD

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — GraniteShares has announced it will execute a reverse share split for one of its ETFs. The total market value of the shares outstanding will not be affected as a result of the transaction.

    Reverse split will be executed on GraniteShares 2x Short NVDA Daily ETF.

    After the close of the markets on November 01, 2024 (the “Payable Date”), the Fund will effect a reverse split of its issued and outstanding shares as follows:

    Please note the CUSIP change, effective November 04, 2024:

    As a result of the reverse split, every twenty-five shares of the Fund will be exchanged for one share of the Fund. Accordingly, the total number of the issued and outstanding shares for the Fund will decrease by the approximate percentage indicated above. In addition, the per share net asset value (“NAV”) and next day’s opening market price will be approximately twenty-five-times higher for the Fund. Shares of the Fund will begin trading on the NASDAQ Stock Market. (the “NASDAQ”) on a split-adjusted basis on November 04, 2024.

    The next day’s opening market value of the Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical one-for- twenty-five reverse split anticipated for the Fund:

    1-for-25 Reverse Split 

    Period # of Shares Owned Hypothetical NAV Total Market Value
    Pre-Reverse Split 1,000 $ 1 $ 1,000
    Post-Reverse Split 40 $ 25 $ 1,000

    Redemption of Fractional Shares and Tax Consequences of the Reverse Split

    As a result of the reverse split, a shareholder of the Fund’s shares potentially could hold a fractional share. However, fractional shares cannot trade on the NASDAQ. Thus, the Fund will redeem for cash a shareholder’s fractional shares at the Fund’s split-adjusted NAV as of the Effective Date. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.

    The GraniteShares ETF Trust’s transfer agent will notify the Depository Trust Company (“DTC”) of the reverse split and instruct DTC to adjust each shareholder’s investment(s) accordingly. DTC is the registered owner of the Fund’s shares and maintains a record of the Fund’s record owners.

    All GraniteShares leveraged and inverse ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee these ETFs will meet their objective.

    About GraniteShares

    GraniteShares is an independent ETF issuer headquartered in New York City.

    GraniteShares current ETF offering is presented below:

    ETF NAME   TICKER     UNDERLYING STOCK   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares 2x Long AAPL Daily ETF     AAPB     Apple Inc.     0.99%/1.15 %
    GraniteShares 2x Long AMD Daily ETF     AMDL     Advanced Micro Devices, Inc.     0.99%/1.15 %
    GraniteShares 1x Short AMD Daily ETF     AMDS     Advanced Micro Devices, Inc.     0.99%/1.15 %
    GraniteShares 2x Long AMZN Daily ETF     AMZZ     Amazon.com, Inc.     0.99%/1.15 %
    GraniteShares 2x Long BABA Daily ETF     BABX     Alibaba Group Holding Limited     0.99%/1.15 %
    GraniteShares 2x Long COIN Daily ETF     CONL     Coinbase Global Inc     0.99%/1.15 %
    GraniteShares 1x Short COIN Daily ETF     CONI     Coinbase Global Inc     1.30%/1.50 %
    GraniteShares 2x Long META Daily ETF     FBL     Meta Platforms Inc     0.99%/1.15 %
    GraniteShares 2x Long MSFT Daily ETF     MSFL     Microsoft Corp     0.99%/1.15 %
    GraniteShares 2x Long NVDA Daily ETF     NVDL     Nvidia Corporation     0.99%/1.15 %
    GraniteShares 2x Short NVDA Daily ETF     NVD     Nvidia Corporation     1.30%/1.50 %
    GraniteShares 2x Long PLTR Daily ETF     PTIR     Palantir technologies Inc     0.99%/1.15 %
    GraniteShares 1.25x Long TSLA Daily ETF     TSL     Tesla Inc     0.99%/1.15 %
    GraniteShares 2x Long TSLA Daily ETF     TSLR     Tesla Inc     0.95%/0.95 %
    GraniteShares 2x Short TSLA Daily ETF     TSDD     Tesla Inc     0.95%/0.95 %
    GraniteShares 2x Long UBER Daily ETF     UBRL     Uber Technologies Inc     0.99%/1.15 %
    ETF NAME   TICKER     EXPOSURE   MANAGEMENT FEE/TOTAL EXPENSES  
    GraniteShares Gold Trust     BAR     Gold     0.17 %
    GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF     COMB     Broad Commodities     0.25 %
    GraniteShares HIPS US High Income ETF     HIPS     High Income     0.70%/1.99 %
    GraniteShares Platinum Trust     PLTM     Platinum     0.50 %
    GraniteShares Nasdaq Select Disruptors ETF     DRUP     U.S. Large Cap     0.60 %

    Gregory FCA for GraniteShares
    Kathleen Elicker, 484-889-6597
    graniteshares@gregoryfca.com

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

    The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.

    PRINCIPAL FUND RISKS (see the Prospectus for more information)

    GraniteShares Leveraged Long and Inverse Daily ETFs are not suitable for all investors. The funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the fund magnifies the performance of the underlying security. The volatility of the underlying security may affect the fund return as much as, or more than, the return of the underlying security. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments, should not buy the Funds. The Funds are designed to be utilized only by traders and sophisticated investors who understand the potential consequences of seeking daily inverse and/or leveraged investment results, understand the risks associated with the use of leverage and/or short sales and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Funds will lose money even if the underlying stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Funds track the price of a single stock rather than an index, eliminating the benefits of diversification that most mutual funds and exchange-traded funds offer. Although the Funds will be listed and traded on an exchange, an investment in a Fund may not be suitable for every investor. The Funds pose risks that are unique and complex.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

    THE FUNDS ARE DISTRIBUTED BY ALPS DISTRIBIUTORS, INC. GRANITESHRES IS NOT AFFILIATED WITH ALPS DISTRIBUTORS, INC

    The MIL Network –

  • MIL-OSI USA: Senator Collins Announces Nearly $133 Million for Bridge Replacements in Penobscot, Kennebec Counties

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    Washington, D.C. – Today, U.S. Senator Susan Collins, Vice Chair of the Senate Appropriations Committee, announced that the Maine Department of Transportation (MaineDOT) has been awarded $132,676,036 for two projects in Penobscot and Kennebec County. This funding will assist in the rehabilitation or replacement of six bridges on Interstate-395 between Bangor and Brewer, and the replacement of six aging overpasses on Interstate-95 near Augusta. This funding was awarded through the U.S. Department of Transportation’s (USDOT) Bridge Investment Program (BIP). With these two awards, the State of Maine is receiving more than 20% of the nearly $635 million being awarded nationwide through the BIP this funding round. Senator Collins sent a letter to Transportation Secretary Pete Buttigieg in support of MaineDOT’s grant requests.

    In 2021, Senator Collins, then the Ranking Member of the Transportation Appropriations Subcommittee, was part of the core group of 10 Senators who negotiated the text of the bipartisan infrastructure law. This law established the BIP, which is the single largest dedicated investment in bridge infrastructure since the construction of the Interstate highway system.

    “This funding will make our roadways safer and more resilient by addressing bridges that are crucial to Maine’s infrastructure,” said Senator Collins. “Upgrading these routes will ensure that vital travel corridors remain accessible for residents, businesses, and commercial transport alike.”

    “This funding will help fund a dozen significant bridge projects in Kennebec County and the Greater Bangor area,” said Bruce Van Note, Commissioner of the Maine Department of Transportation. “Our team will replace six deteriorating bridges in Sidney and Waterville that do not provide enough vertical clearance for interstate traffic. We will also make major improvements on six bridges along the I-395 corridor in Bangor and Brewer, including the rehabilitation of the Veterans Remembrance Bridge spanning the Penobscot River. These investments in our transportation system support safety, reliability, and economic opportunity. We thank Senator Collins and Maine’s entire Congressional delegation for their ongoing commitment to supporting critical infrastructure projects in our state.”

    The funding is allocated as follows:

    • I-395 Bridge Bundle Project – $63,016,563 to rehabilitate or replace six deteriorating bridges along I-395 to enhance safety and improve driving conditions for those traveling between Bangor and Brewer, benefiting both local and regional mobility.
    • I-95 Accessibility Improvements Minimizing Heavy-Truck Impacts Project – $69,659,473 to replace six outdated bridges over I-95, bringing structures up to modern standards, allowing for safer heavy-truck passage, and reducing long-term maintenance needs on this critical route in Kennebec County.

    According to the USDOT, the BIP provides funding for bridge replacement, rehabilitation, preservation, and protection projects that reduce the number of bridges in poor condition, or in fair condition at risk of declining into poor condition.

    Since 2009, when Senator Collins became a member of the Appropriations Committee, she has secured more than $1 billion in competitive transportation grants for the State of Maine.

    MIL OSI USA News –

  • MIL-OSI Global: MC Duke: a pioneering British rapper more people should know about

    Source: The Conversation – UK – By Adam de Paor-Evans, Research Lead at Rhythm Obscura / Lecturer in the School of Art, Design and Architecture, University of Plymouth

    MC Duke (Kashif Adham) was a key figure in the development of hip-hop in Britain in the late 80s. When he died in April, British rap lost a giant. From the East End of London, Duke strengthened the evolution of the genre in the UK by relating directly to US hip-hop and an emerging British rap identity through his lyrics and visual style.

    At the time of MC Duke’s arrival on the rap scene, British hip-hop was transitioning from the electro-based sound by London artists such as DSM, Three Wize Men and Family Quest, to a more sample-based style, much like the sounds of US artists Eric B. and Rakim and Biz Markie.

    In this transition, Duke emerged as the frontrunner in this new generation due to his embrace of hip-hop’s visual tropes as much as his sound.

    His first release, Jus-Dis landed in 1987 on Hard As Hell! Rap’s Next Generation, a compilation released on Music Of Life – a staple label for homegrown British talent. Jus-Dis presents Duke’s battle rap attitude through the diss track – a concept where the song’s narrative attacks another party.

    His lyrics and wordplay on the song title present social commentary on Britain and its legal system: “There ain’t no law, there’s only jus-dis.” Duke also brought the idea of the diss to live audiences throughout the UK by accelerating the dispute with Overlord X, another pioneering British rapper, as part of his stage routine.

    His first proper single release, Miracles, the next year, visually presented MC Duke and his DJ, DJ Leader 1, for the first time to audiences. The record sleeve depicts Duke donning a bright red goose jacket, a black leather cap, Cazal-style shades, gold rope chain and a name belt buckle – all highly sought-after attire in hip-hop fashion.

    These fashion choices linked the US image of rap with an emerging British one. In the US, rap pioneers T La Rock and Kool Moe Dee had previously used similar accessories on album covers to denote a sense of identity. In the UK, graffiti writers and breakdancers particularly were sporting name belt buckles.

    Miracles heavily samples The Jackson Sister’s I Believe In Miracles, which was a mainstay of the rare groove scene that developed in London during the early 80s. With the inclusion of vocal samples from Run-D.M.C.’s Run’s House and Public Enemy’s Bring The Noise, Miracles starts to bring together a transatlantic idea of hip-hop.

    Got To Get Your Own based on Reuben Wilson’s song of the same name and MC Duke’s follow-up single, I’m Riffin (English Rasta) heavily samples Funky Like A Train (link) by Equals, again a core record from many rare groove playlists.

    The introduction to I’m Riffin (English Rasta) is sampled from the powerful speech by American civil rights leader Jesse Jackson from Introduction (Complete). This immediately frames MC Duke’s lyrics with a sense of Black identity and history, as he raps: “Known to speak about men of freedom, Look for books on King and read ‘em”.

    Duke returns the narrative to a sense of the everyman: “We cover and smother another brother, Throw him away just like a used rubber,” twice referring to the system as at the heart of Black-on-Black crime.

    Duke’s “English Rasta” pseudonym is also a comment on Jamaican culture in Britain, in particular the second generation who grew up through an evolving Black British identity.

    M.C. Duke and DJ Leader 1’s debut album Organised Rhyme challenges the British class system, the aristocracy, colonialism and imperialism. Duke claims their associated visual tropes and brings them into a rap frame fusing tweed suits, hunting boots, Bentley cars and stately homes with the African medallions and chunky gold jewellery of hip-hop.

    In 1990, Duke countered the conventions of the British aristocracy as a producer and performer on the album The Royal Family, a collective of artists from the Music Of Life camp, including the likes of Lady Tame and Doc Savage. This album resonates with US label-related collectives such as Marley Marl’s Juice Crew and The 45 King’s Flavor Unit. Again, this enforces the transatlantic approach to hip-hop that Duke maintained.

    Duke’s work ensured British fans felt homegrown rap was becoming closer to US artists like Eric B. & Rakim and Public Enemy. Additionally, his music laid the foundation for future solo British rappers as diverse as Ty, Dizzee Rascal and Stormzy.

    As well as being a forerunner in British hip-hop, Duke worked across dance genres and influenced many jungle, drum ‘n’ bass and grime emcees. As Jumpin Jack Frost (the DJ behind the seminal jungle track Burial, which he released under the alias Leviticus) attested: “Duke was a true trailblazer who was one of the first UK MCs with a major record deal … His legacy will be remembered as someone who helped to shape UK MCs from jungle to grime we all owe MC Duke a lot.”

    MC Duke bridged the gap between US hip-hop history and set a new British trajectory for rap. His work should serve as a critical signpost for British rap audiences.

    Adam de Paor-Evans 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. MC Duke: a pioneering British rapper more people should know about – https://theconversation.com/mc-duke-a-pioneering-british-rapper-more-people-should-know-about-229966

    MIL OSI – Global Reports –

  • MIL-OSI Security: Whitehorse — Police respond to a fatal motor vehicle collision

    Source: Royal Canadian Mounted Police

    On October 26 at approximately 2:00 a.m., Whitehorse RCMP responded to a motor vehicle collision involving a pickup truck and tractor trailer on the Alaska Highway near the Porter Creek subdivision.

    Yukon Emergency Medical Services and the Whitehorse Fire Department assisted at the scene and a 37-year-old male from Whitehorse was found deceased.

    The section of the Alaska Highway from Birch Street to Wann Road was closed to traffic and a detour was established to allow traffic to bypass the area while an M Division RCMP Collision Analyst attended to collect evidence. The closed section of highway was re-opened to the public on October 26 at approximately 5:00 pm.

    Whitehorse RCMP and the Yukon Coroner’s Service continue to investigate.

    Our condolences go out to the friends and family of the deceased and all affected persons.

    MIL Security OSI –