SEC trading halt of crypto treasury firm QMMM is a TradFi issue

Nasdaq notified QMMM Holdings Limited that its Nasdaq-listed securities will be delisted on June 24 unless the company appeals to a Listing Qualifications Hearings Panel, according to Nasdaq. The shares remain halted and unavailable to trade until any appeal is resolved and Nasdaq removes the securities. After removal, the shares may trade over the counter, Nasdaq said.

The article explains the U.S.-made Patriot mobile air defense system and why interceptor missile supplies are down. It cites Raytheon and Lockheed for system details and notes CSIS estimates about 65% of U.S. interceptors were expended Feb to July, leaving under 850. It says the U.S. approved 5,250 interceptors for Gulf states and awarded Lockheed a contract up to $58.6B.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.

ExxonMobil Moçambique Limitada issued McDermott Energy Solutions (UK) a letter of intent for limited engineering and procurement work on Rovuma LNG Phase 1 midstream development. The award supports planning ahead of a final investment decision expected in 2026. Rovuma LNG targets 12 modular trains totaling 18.6 mtpa, with start-up in 2031. ExxonMobil says the 30-year project could generate about $150B in revenues for Mozambique’s government.

Serbia President Aleksandar Vucic said Serbia will open a joint UAV factory with Elbit Systems, with inauguration expected Sept 15-20. Elbit will hold 51% and Serbia’s state arms firm SDPR 49%. The factory relates to a five-year contract covering precision rockets and unmanned systems, plus ISTAR, digitization and upgrades.

The U.S. Department of Defense, according to The Washington Post, asked defense contractors to submit within 21 days production and delivery schedules for critical systems, citing depleted stockpiles. CSIS estimates cite heavy early use of missiles and falling Patriot and THAAD inventories. The Pentagon is working with Northrop Grumman and Lockheed Martin, including a $58.6B deal to triple PAC-3 output by 2030, pending a stalled $1.15T defense budget.