05212026 BUSINESS AND SPORTS

Thursday, May 21, 2026

Rum Cay feud reignites

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A LONG-running Rum Cay feud has suddenly reignited to endanger the multi-million dollar sale of one of the island’s most valuable and important economic assets.

Bobby Little, owner of Sumner Point Properties, yesterday told Tribune Business he is seeking police, government and regulatory intervention after being stunned by the sudden reappearance of David Cummings, a rival Rum Cay investor who he has fought against in multiple Supreme Court legal disputes dating back almost two decades.

The US developer, who said his family’s involvement on the island dates back to the 1960s, is alleging that Mr Cummings is

breaching an October 19, 2012, Supreme Court Order - which he says remains in effect - barring the latter from interfering with the 80-acre Sumner Point property and its marina through blocking roads by “depositing sand” and other means.

This newspaper has obtained photographs purporting to show Mr Cummings using an excavator to dredge, and clear, sand from the Sumner Point marina entrance channel with several sources identifying him as the person inside the cabin operating the machine.

And Mr Little, meanwhile, is also asserting that Mr Cummings’ re-emergence on Rum Cay comes following a six-year absence after the latter was found “found guilty of contempt of court” in March 2020 just

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Security firm launches AI fraud detection unit

BY NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A BAHAMIAN security provider yesterday disclosed it has launched an artificial intelligence (AI) unit to keep pace with fast-evolving fraud trends and enable clients to detect fake documents, voice notes and even video calls in “real time’.

Gamal Newry, principal of Preventative Measures, an asset protection and loss prevention company, told Tribune Business that its AI unit has already received “several hits” from Bahamian and Caribbean clients seeking to use its services

and is predicting business will only grow as the use and variety of ‘deep fake’ manipulations continues to grow.

“We would have specialised in the physical aspects

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Solar systems cut power bills by 34% ‘on average’

BY NEIL HARTNELL Tribune Business Editor

nhartnell@tribunemedia.net

REGULATORS yesterday revealed that homeowners and businesses with solar energy systems have “on average” cut their power bills by one-third and can further “maximise” their investment returns by exporting less electricity to BPL’s grid. The Utilities Regulation and Competition Authority (URCA), in unveiling plans for a more comprehensive study of the investment returns from installing small-scale renewable energy systems, said the results from previous research - albeit limited to a restricted 11-strong sample size - showed that homeowners need to spend around $3.50 per watt to ensure economic viability. And URCA, which now has regulatory responsibility for the electricity sector, admitted that solar photovoltaic (PV) system owners will enjoy greater returns if they consume more of their own power and sell less back to the Bahamas Power

Sumner Point chief seeks ‘urgent’ police, regulatory help

As rival investor suddenly reemerges with sand dredging Alleges activity breaches court Order; no restitution paid

FOCOL chairman: BISX ‘deficient’ and needs change

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

FOCOL Holdings chairman yesterday asserted that the Bahamas International Securities Exchange (BISX) is “very deficient” and “needs change” if it is to attract more major initial public offerings (IPOs) and fulfill the original vision for the country’s first-ever stock market.

Sir Franklyn Wilson, speaking after BISX’s top executive revealed progress on initiatives to add three new layers to the exchange and wider Bahamian capital markets, told Tribune Business that the development of a private listings market, crowd-funding platform and secondary market are “small potatoes” compared to the need to attract more IPOs and listings on its main Board.

Noting that there have been no publicly-traded IPOs since the last Ingraham administration, which ensured that both

Commonwealth Brewery and Arawak Port Development Company (APD) were listed on BISX, he argued that the exchange needs to “become more relevant” to the wider Bahamian capital market and its participants and fulfill its original mission when launched in 2000 - to act as a pooling mechanism for equity capital investments in productive companies that will grow the economy and savings. Asserting that it is “fundamental” for BISX to attain such an objective, Sir Franklyn told this newspaper that - if it did - it will have an “immeasurable”

Data will reward business owners who pay attention R OYE II

The numbers do not lie, but they often whisper. For Bahamian business owners running everything from boutique hotels in Harbour Island to wholesale operations on Bay Street, the data flowing through your tills, booking platforms and inventory systems holds the answer to nearly every question you have about your enterprise. The challenge is that most of us never studied data science and, frankly, we do not need to. What we need is the discipline to ask sharper questions, and the willingness to look at the numbers we already collect. Consider the small restaurant owner in Nassau who notices that Tuesday evenings are quieter than Thursdays. That single observation, drawn from sales receipts, can reshape staffing, supplier orders and even social media posting schedules.

This is what data does when it is treated as a daily companion rather than a quarterly mystery. You do not need expensive analytics software to begin. A simple spreadsheet, populated honestly each week with sales figures, foot traffic counts and customer complaints, will start telling you a story within 90 days.

The Bahamian economy is shaped by patterns that data reveals beautifully. Tourism arrivals fluctuate with cruise schedules, weather and global travel trends. Retail spending shifts around government salary cycles and seasonal events such as Junkanoo and the Back to School season. Restaurant traffic moves with cruise ship calls and conference bookings at venues such as Atlantis and Baha Mar. Owners who track these rhythms in their own businesses can negotiate better with suppliers, schedule labour intelligently and time their marketing spend to land when customers are most ready to buy. Free tools have democratised this work. Google Analytics tells you how visitors find your website and what they do once they arrive. Most point-of-sale systems used in Bahamian businesses, from Square to Lightspeed, include dashboards that show you bestsellers, slow movers and peak hours. Social media platforms hand over engagement statistics at no charge. The information is there. The question is whether anyone in your company is reading it. Start small. Choose three numbers that genuinely matter to your business and review them every week.

For a hotel that might be occupancy rates, average daily rates (ADRs) and online review scores. For a retail shop it might be average transaction value, items per sale and inventory turnover. For a service provider it could be lead conversion rate, repeat customer percentage and project margin. These three numbers, watched faithfully, will reveal more about your enterprise than any consultant report.

The fear of being overwhelmed by data keeps too many Bahamian entrepreneurs frozen. Yet the same owner who can read a marina chart, judge a sky for weather and feel the pulse of a market crowd already possesses the analytical instincts that data work requires. The tools simply translate familiar judgment into structured form.

Our economy faces real headwinds. Inflation pressures imported goods. Climate considerations affect insurance and infrastructure. Global competition arrives through every cruise gangway and search engine query. The businesses that will thrive through the next decade are those whose owners learn to listen to what their numbers are saying. You do not need a technology degree to do this. You need a notebook, a calm hour each week, and the willingness to ask why.

The Bahamas has always rewarded those who pay close attention. Data is simply the modern language of attention.

• NB: About Keith Keith Roye II is a highly analytic and solutions-driven professional with extensive experience in software development. He holds a BSc in computer science, and his career includes leading and delivering global software projects in various industries in The Bahamas and the US.

Fuel dock operator defends charge for credit card usage

BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

A DOCK operator yesterday defended charging customers an extra fee for using credit cards to purchase fuel, arguing that businesses selling price-controlled gasoline and diesel cannot absorb merchant processing charges.

The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) recently issued a statement warning businesses against imposing merchant fees on consumers using debit and credit cards. However, a fuel dock operator, speaking on condition of anonymity, said that while their operation does not apply merchant fees to labour charges, store items or services, fuel sales are a challenge because

profit margins are fixed and government-controlled.

“We do not charge merchant fees for our labour or for items that we sell in our store or for our services, but we do charge merchant fees for gas and diesel sales,” the operator said. “And we charge exactly what the bank charges us.”

The operator argued that fuel retailers are facing financial pressure as rising fuel prices increase card processing costs while margins remain the same. “Now the price is at $7 per gallon,” the operator said. “The bank charges the same fee, no matter what the price of gas or diesel is.

“But what we make on a gallon of gas or diesel is fixed. That is price controlled. So the more the price goes up, the more is coming out of that fee than we are allowed to make on gas or diesel. So it means

Arawak Cay chief sounds fresh child labour alarm

BY ANNELIA NIXON Tribune Business

ARAWAK Cay operators yesterday sounded a renewed alarm over the re-emergence of child vendors, highlighting concerns about child welfare, regulation and enforcement.

Lilian Laramore-Smith, president of the Arawak Cay Conch, Fish, Vegetables and Food Vendors Association, said her members are increasingly encountering children - some as young as five years-old - soliciting on the Fish Fry’s premises with sponsor sheets, hand-made sales items and appeals for donations.

Ms Laramore-Smith said she estimates about 15 children frequent Arawak Cay daily for such purposes and added that another group, often older boys, appear during summer months, soliciting sponsorships for basketball teams and other causes. She questioned whether they are legitimate.

“One time I had a particular agency… I had them come out and they

assessed the situation, and they caught three boys, took them to the police station, and all three of the boys had the same sponsorship with the same name,” Ms Laramore-Smith said.

“Every one of them had John. So we know it was a flam.”

She alleged that authorities followed the children and discovered an adult collecting money nearby.

“They had a whole set-up,” she said. “So the kids, it’s not that they’re asking for a sponsor for something that is legitimate. It’s not real.

“So my problem is even the age of the child. If kids are coming out to do something, and it’s for their family to eat, I would want that. But you don't bring your children out and they’re five, six, and seven years-old, and send them on their own. They're not even walking with the children with this particular sponsor sheet.”

While some children appear during school hours, Ms Laramore-Smith said the larger concern involves after-school hours that extend late into the night.

basically you’re giving like a 25 percent discount for people who use credit cards.

“If a person or business knows that that’s coming out across the board, they could even say it’s going to be a certain percentage of our sales. They can add that in quite easily, so they don’t have to think about it any more, and I am sure lots of businesses do that. But gas and diesel, you cannot do that because it’s price controlled.”

They added: “The reason that banks, when they started accepting credit cards, they did not want you to add that fee on is because they did not want to discourage people from using their credit cards because they make that fee.”

The operator maintained that their business earns no additional profit from the fee. “I can assure you we do not make any more

“You may have one or two, no more than five, that would come during school hours,” she said. “But they come after school, and some of them stay till 10pm, 11pm in the night.”

Ms Laramore-Smith said oversight and permitting requirements exist for operators on Arawak Cay and should apply to all. She explained that vendors seeking to operate at Arawak Cay typically require approval through the Ministry of Agriculture and Marine Resources, which manages the area.

“Anybody who sells on the side of the street needs a proper permit — either a Business Licence, a permit or a letter,” she said. “If someone wants to do business on Arawak Cay, they have to go to Agriculture

by adding that fee in than we would otherwise make,” they said.

“I know some places say we’re going to add 5 percent across the board, no matter what. But gas stations cannot do that. They are mandated by law to charge only what the Government allows them to charge. They cannot add fees on.”

The operator also criticised banks for what he described as poor communication and a lack of responsiveness to business concerns. “Have you ever tried to speak to the bank?” they said. “And you have success in doing that?

You don’t find that an issue or a problem, that they don’t answer the phone, or they’re generally not communicative?”

Their comments came after the Chamber said it had received a growing number of complaints from

and Fisheries and apply for a letter. Agriculture and Fisheries would vet them, and then give it to them based on a yearly basis on behaviour.”

Ms Laramore-Smith said she is also preparing to write a letter regarding flower vendors who operate on Arawak Cay with the goal of bringing them into the formal economy.  “I would like to have a meeting with them, so that I can have them processed,” she said. “They can go and apply for a permit and get the approval.” Still, she said children remain her greatest concern. Ms Laramore-Smith added that beyond safety concerns, prolonged exposure to solicitation is shaping behavioural patterns in the children.

consumers and businesses regarding vendors charging merchant fees on credit card transactions and enforcing minimum spending requirements. The BCCEC said the practices conflict with policies established by the Bahamas Clearing Banks Association (BCBA).

“These practices are inconsistent with the established policies of The Bahamas Clearing Banks Association, which prohibit merchants from charging additional fees to customers for the use of credit cards, as well as setting minimum transaction thresholds for card payments,” the statement said.

While acknowledging businesses face electronic payment processing costs, the BCCEC said those expenses should not be transferred directly to consumers. “The Chamber recognises the challenges faced by businesses, including processing fees associated with electronic payments,” it said.

“However, these costs are part of the agreed terms between merchants and their financial institutions, and should not

“I’ve watched the character of the children develop,” she said. “They have attitude now where they’re collecting this money, and they feel like you can’t tell them what to do.”

Ms Laramore-Smith also said children increasingly enter vendor establishments. “They also find their way going into the business establishments,” she said. “That should be off limits.

“Three years ago I represented The Bahamas through the Trade Union Congress,” she said. “I went to Switzerland, and the topic that I discussed and dealt with for the two weeks I was there was child labour. And that’s why it’s so hot on my heart in dealing with them.”

Tribune Business reached out to the Department of

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be transferred directly to consumers in a manner that violates established guidelines.”

The BCCEC argued that surcharges could damage consumer trust and create an uneven business environment. “Unauthorised surcharges and restrictions not only undermine consumer confidence but also place compliant businesses at a competitive disadvantage,” it said.

The BCCEC urged merchants to review payment practices and encouraged consumers encountering such charges to report them to regulators. Meanwhile, Tribune Business was shown a receipt posted to social media that was said to be from a fuel dock in Treasure Cay, Abaco, showing a transaction total of $1,377.24, which included a credit card fee of $46.37. When contacted Robert Meister, who Tribune Business understands operates the Treasure Cay fuel dock, declined to comment. “I’m sorry, I can’t comment on that,” Mr Meister said.

Labour for comment but did not receive a response up to press time.

According to the 2024 country reports on Human Rights practices for The Bahamas, incidents of child labour occurred within the informal economy, with children working on family farms and as street vendors. The report noted that the Ministry of Labour lacked sufficient inspectors to adequately follow up on reports involving child labour.

The report said Bahamian law prohibits the worst forms of child labour and bars children under 14 from industrial work and employment during school hours or between 8pm and 6am. Children aged 14 to 17 face restrictions on hours worked outside school.

Direct the operations of the Financial Market Infrastructure (FMI) Department to promote the efficient functioning of systemically important payment and settlement systems, including the real-time gross settlement system (RTGS), the central securities depository (CSD) for Bahamas Government securities, the Central Bank’s digital currency (CBDC) platform, and all underlying services to support the infrastructure

Develop and deliver on policy outcomes to support broad objectives under the Central Bank’s Payment System Modernization Initiative (PSMI), and oversee the continuous assessment of domestic market maturity and integrity against the global Principles for Financial Market

Infrastructures (PFMI)

Guide the collection of data, and the development and maintenance of statistical models, required for management decision-making, analysis, and planning Risk and governance frameworks for the department are to promote data-driven outcomes

Contribute to the Central Bank’s governance, risk, and compliance functions, through measured contributions to strategic activities as part of the Management Committee, supported by department-specific actions and reporting

Develop and execute staff training and development plans to promote operational bench strength and contribute to the Central Bank’s wider succession planning initiatives

EDUCATION & EXPERIENCE REQUIREMENTS

Master’s degree in a quantitative branch of economics, finance, production & operations management, operations research, statistics, quantitative methods, or a related quantitative discipline

Expert knowledge of payment and settlement systems and the Principles of Financial Markets Infrastructures (PFMI)

Sound knowledge of SWIFT architecture, accounting standards, statistical and optimization techniques, wholesale and retail payment flows, and securities pricing, auction, and settlement practices

A general understanding of IT applications and their lifecycles

Sound knowledge of spreadsheet applications, statistical software packages, network analysis software packages, and data visualization software

Proficient in Python syntax and fundamental language features, including, inter alia, functions, data structures, control flows, and variables, particularly in the application of statistical and optimization techniques

Five years related or transferrable experience at the management level, with a proven track record of supervising a team of professionals in a quantitative operational environment

Wednesday, 22 May

GB Shipyard seeks to double 46-strong apprentice training

GRAND Bahama Shipyard says its Bahamian apprenticeship drive continues to expand with 46 persons now enrolled across four trades as it bids to near-double this number.

The ship repair facility, in a statement, said the current apprentice group for the first time includes women who are participating in an internationally-certified training course.

“The Apprenticeship programme is the starting point in the company’s manpower strategy for developing Bahamian talent,” said Gary Bentinck, vice-president of human resources at Grand Bahama Shipyard.

“This is a structured fouryear programme which will qualify our apprentices with internationally-recognised trade certifications. These certifications are essential in our industry, enabling individuals to progress from trade positions into supervisory, managerial and leadership roles.”

Grand Bahama Shipyard said the latest group of apprentices has successfully completed an initial fourmonth training programme at the Bahamas Technical and Vocational Institute (BTVI), where they were introduced to the fundamentals of shipyard repair operations.

They will now travel to the United Kingdom to

ing College tutor; Gary Bentinck, vice-president of human resources at

and Kevin Cairns, commercial aervices manager at the College.

continue their training at the Engineering College in Liverpool, where they will spend the next four months advancing their technical knowledge and skills in their chosen trades. Upon completion of their overseas training, the apprentices will return to Grand Bahama Shipyard, where they will spend the next three years gaining hands-on experience to become fully qualified tradespeople. With continued development, it is expected to take an additional five to six years for participants to achieve the level of expertise required

GRAND BAHAMA Shipyard continues to use its structured four-year apprenticeship programme to increase its Bahamian workforce. This year’s class of 12, including two women, have already successfully completed an initial four-month training programme at the Bahamas Technical and Vocational Institute (BTVI), where they were introduced to the fundamentals of shipyard repair operations.  They now travel to the UK to continue their training at the Engineering College in Liverpool for four months.  Some of the apprentices are pictured with their families and friends at the Western Air terminal in Freeport.

for senior roles such as chargehand and foreman.

“By having women join the programme, it widens the talent pool, which makes sense in an industry facing global shortages of skilled tradespeople,” Mr Bentinck said. “A more diverse workforce strengthens companies and has a positive impact locally, including higher household incomes and a broader workforce capability for Grand Bahama.”

For families, the programme represents more than technical training - it is a source of pride and opportunity. Chaniece Pinder, whose grandson Dunrell Pinder is among the apprentices, said: “At this time, just being here to see my grandson, I feel like I’m part of this programme, too.

“I’m so proud of him for being given this opportunity to excel, grow and mature. To travel such a long

distance without his siblings makes me even prouder. I must commend the Shipyard for giving him this chance. Thank you, Shipyard, thank you.” The expansion of the apprenticeship programme comes at a pivotal time for Grand Bahama Shipyard. “2026 is a transitional year for the Shipyard as we return to a three-dock operation,” explained Chris Earl, Grand Bahama Shipyard’s chief executive.

“With the imminent arrival of the new Lucayan Dock and its expected commissioning in the third quarter, we will have the largest vessel-lifting capacity in the world. This $650m investment, alongside initiatives like our apprenticeship programme, reflects our confidence in The Bahamas and its people as long-term partners in building a truly world-class operation.”

Commission chief elected to chair regional securities body

THE Securities Commission’s executive director has been elected as chair of the Inter-American Regional Committee (IARC) of the International Organisation of Securities Commissions (IOSCO).

The Bahamian regulator, in a statement, said Christina Rolle’s election to IARC chair marks the beginning of a two-year term. Her election follows her tenure as vice-chair of IARC, where she served three consecutive terms between 2020 and 2026.

“I thank the members of IARC for their confidence in choosing me for the position of chair. This role will provide a platform for the Commission and, by extension, The Bahamas to ensure that our perspectives and priorities are represented as global standards for securities regulation and information sharing evolve,” Ms Rolle said.

The Securities Commission said it is actively engaged with IOSCO’s various groups and committees, including Committee 3 on the regulation of market intermediaries; Committee 4 on enforcement and the exchange of information; the committee on retail Iinvestors (Committee 8); the assessment committee, monitoring group, screening group and the Fintech Task Force.

IARC is one of four IOSCO regional committees. It focuses on issues related to securities regulation across North, Central and South America, and the Caribbean region, with 29 members, including regulators from the US, Canada, Mexico and Brazil. The committee’s responsibility is to promote high regulatory standards, facilitate the exchange of information and enhance the integrity of regional markets through collaborative efforts.

“On behalf of the Board, I extend congratulations to Christina on her election to chair IARC. It is a fitting recognition by its members of her professionalism, extensive regulatory and industry experience, proven leadership skills and of the Securities Commission of The Bahamas’ co-operation over the years. I am certain that her appointment will redound to the benefit of IARC and to the continued development of regulatory standards in The Bahamas,” said Justice K Neville Adderley, the Securities Commission’s chairman.

Gov’t eyes AI governance and digital transformation

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Davis administration yesterday unveiled plans to advance major digital transformation, environmental reform and creative industry initiatives as part of the legislative programme for its new parliamentary term.

In the Speech from Throne delivered by governor general, Dame Cynthia “Mother” Pratt, the Government said technology and innovation will remain central to public sector modernisation.

The administration revealed plans to transition all government agencies to the MyGateway platform within the next three years as well as plans to implement a national digital ID system designed to support future digital public services.

“My government intends to introduce an E-Government Act requiring all government agencies to transition on to MyGateway within three years,” Dame Cynthia said.

The Government further unveiled plans for an Artificial Intelligence Governance Act, establishing a National AI Commission and ethical safeguards governing the use of artificial intelligence. Additional digital reforms include strengthened enforcement under the Data Protection Act, including mandatory breach notification requirements.

Gov’t pledges to boost transparency systems

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Davis administration yesterday pledged to continue expanding implementation of the Freedom of Information Act (FOIA), strengthen accountability systems and advance longterm national planning reforms during the opening of Parliament.

In the Speech from the Throne delivered by Governor Genera,l Dame Cynthia “Mother” Pratt, the Government said transparency, accountability and co-ordinated planning will remain central priorities during the new parliamentary term.

“My government believes good governance requires robust long-term planning, public participation and accountability,” she said. The administration specifically pledged to continue “expanding and fully implementing the Freedom of Information Act” while ensuring public bodies

maintain trained FOIA officers and disclosure systems.

The Government also committed to ensuring the Independent Commission of Investigations is “fully functioning and properly resourced”. The renewed FOIA commitments come as governance advocates continue calling for greater funding and full implementation of transparency legislation.

The Organisation for Responsible Governance’s (ORG) executive director, Matt Aubry, recently argued that existing FOIA allocations have been insufficient to properly execute the legislation. “What we know is that over the last number of years there was just $140,000 allocated in each of the last two years’ budgets - and that obviously is not enough to advance or put a priority on freedom of information,” Mr Aubry told Tribune Business earlier this week.

Mr Aubry said the Information Commissioner and

NOTICE

his team previously estimated about $1m would be needed for proper implementation, including public education, training and technology infrastructure. “The hope is that you see the full expansion of funds to be able to make that happen,” he said. Beyond transparency reforms, the Government also outlined plans for broader national planning legislation and development co-ordination.

The administration pledged to continue work already begun on the National Development Plan, describing it as a longterm vision for economic growth, infrastructure, environmental sustainability, institutional reform and human development.

The Government also intends to introduce legislation establishing a national development framework to provide co-ordinated planning across ministries, agencies and islands. In addition, the Davis administration plans to advance a national master physical development plan establishing what it described as an infrastructure blueprint for development throughout the archipelago.

Other proposed reforms include comprehensive waste management and marine pollution legislation featuring stronger penalties and enforcement mechanisms. The Government additionally plans to establish a blue carbon governance framework to ensure “transparency, accountability, and national benefit sharing” from blue carbon initiatives.

The speech also highlighted the Government’s intention to expand the country’s creative industries

On environmental matters, the Government pledged to complete and enforce an updated Bahamas Building Code as part of broader national resilience and disaster preparedness efforts. The administration also intends to establish a Bahamas Environmental Tribunal aimed at strengthening environmental enforcement and adjudication.

LEGAL RECEPTIONIST

sector. “My government firmly believes that Bahamian creativity and culture represent a national asset of enormous potential,” Dame Cynthia said.

The Government pointed to the newly created Creative and Performing Arts School of The Bahamas, CAPAS, as a future training hub for the sector. The administration also announced plans for an online rights registry and small claims mechanism aimed at protecting Bahamian digital creators and intellectual property rights.

In addition, the Government intends to introduce legislation incentivising film production in The Bahamas to encourage greater local and international production activity.

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IN THE ESTATE OF CECIL CLARENCE ALEXANDER SMITH late of Taylor Street, Nassau Village in the Eastern District of the Island of New Providence, one of the Islands of the Commonwealth of The Bahamas, deceased.

Notice is hereby given that all persons having any claim or demand against the above Estate are required to send their names, addresses and the particulars of their debts or claims duly certified in writing to the undersigned on or before the 25th June, A. D. 2026, after which date the Executors will proceed to distribute the assets having regard only to the proved debts or claims of which notice have been given.

And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the date herein before mentioned.

EDWARD B. TURNER & CO. #24 Leonie Place Flax Terrace off Malcolm Road Nassau, Bahamas

Attorneys for the Executors of the Estate of the late Cecil Clarence Alexander Smith

Sir Franklyn: New market layers are ‘small potatoes’

impact on Bahamian investors, companies and the wider economy that is equivalent to what the US capital markets do for the country’s northern neighbour.

And he hailed the selection of Senator Jerome Fitzgerald as minister of economic affairs in the second Davis administration’s Cabinet on the basis that he will have ministerial responsibility for the Government’s relations with BISX and the broader Bahamian capital markets.

“My understanding is that Mr Fitzgerald will have ministerial responsibility for relations with BISX,” Sir Franklyn said.

“It is my hope that his comfort level in that space, and the relationships he has in that space, having personally chaired a BISX-listed company, will position him to lead and really look at the capital markets and how BISX can grow and become bigger, stronger and better. I have very high hopes.

“I believe that Mr Fitzgerald as minister; I wouldn’t say he is uniquely positioned, but of all the

members in our Parliament he has the background and experience to really lead that charge. It’s my hope that, in five years time, if he stays there and there is no change, he can really make a difference in terms of BISX.”

Some observers, though, would argue that Mr Fitzgerald’s capital markets and corporate track record is less than stellar.

RND Holdings, the cinema operator in which he was a principal investor and shareholder, exited that business after selling the movie operations side to its rival, Galleria, which is also now defunct, following successive years of heavy losses.

RND Holdings became a real estate investment trust (REIT), owning the real estate that held the cinema operations sold to Galleria. Mr Fitzgerald, who served as senior policy advisor to Prime Minister Philip Davis KC during the latter’s first administration, ultimately bought out his long-standing business partner, Brent Dean, to own two-thirds of RND Holdings’ equity. However, he sold his entire ownership interest

in RND Holdings many years ago to Colina, and the company has since been renamed as Colina Real Estate Fund owning and holding multiple investment properties. Meanwhile, Sir Franklyn yesterday described BISX’s plans to broaden and deepen the Bahamian capital markets by launching a private market listings tier, crowd funding platform and secondary market as “like small potatoes kind of stuff to me”.

He told Tribune Business: “I’m talking about getting our capital markets to the position where they are supposed to be. BISX today is very deficient in my view. The fact there has not been a new main board listing in a long time, it’s not working. “BISX needs change. It needs change to the point where people start listing stuff again. BISX needs change. If you want a headline from me, ‘Sir Franklyn says BISX needs change’. BISX needs to become more relevant to the capital markets so that it does what it’s intended to do. A lot of capital raisings now are happening in debt, not equity, and a lot of debt

Firm says its platform can detect AI fakes in real time

of fraud,” he explained, “but to maintain pace with the trends we have developed an AI unit to help clients detect fake documents, videos and voice notes, and determine how authentic they are against voice cloning, against deep fakes, against document manipulation.”

Mr Newry told this newspaper that, even though important commercial documents such as contracts and their signatures may appear genuine, they are now open to manipulation via AI. “In the last six months we’ve got several hits locally and regionally because of what’s happening,” he said of the AI unit’s launch.

“AI is so easily accessed by individuals. The frequency has increased.

Clients who may have frowned against it or determined that it’s easily detectable six months ago, they are seeing in just 30-90 days that, because of the improvement in the tools, it’s becoming more difficult to determine the authenticity of documents or even a video.

“Our platform allows us to determine in real time whether a live video has been manipulated in a medium such as Microsoft Teams or a Zoom call. That call may be live, and we can detect if you are speaking to the individual you think you are while you are in the call. The system determines that is the individual you are speaking to and seeing. AI has advanced to the point where it can manipulate a video in real time.”

Mr Newry said Preventative Measures predicts its

AI unit will gain “more traction” as the technology evolves and more persons become familiar with its use and access. “We anticipate that the frequency of AI manipulations will grow, especially for realtime determination,” he added. “You get a video, social media or call from a client authorising a particular transaction. They want access to their funds now, so you make a determination then and there.”

The Preventative Measures chief said The Bahamas, as primarily an international services exporter serving overseas clients, is especially vulnerable to AI manipulations. He added that industries such as financial services could be especially susceptible as clients demand that transactions be processed rapidly, and due diligence

instruments are done by private placement.”

Keith Davies, BISX’s chief executive, told Tribune Business that the exchange is seeking “to cover all the bases” involved in capital formation at every conceivable market level, with the ‘rules’ governing ‘private market’ listings, share trading and transfers, and companies continuing obligations having been released for a two-week public consultation period last Friday.

Describing the private listings tier as “an incubator” for Bahamian companies, the BISX chief told this newspaper it is primarily targeted at small to medium-sized businesses which have expansion ambitions and will be seeking “larger capital injections into their operations in the future”.

The private listings tier is the first, and most junior, of three new capital-raising levels that BISX aims to launch as part of its “onestop shop” ambitions. The next phase is the ‘crowd funding’ platform, which will effectively fill the void created by the now-defunct ArawakX, and then the

checks come under pressure to be completed rapidly.

“We’re seeing it around the world, and we anticipate it will trickle down to The Bahamas and the rest of the Caribbean,” Mr Newry said of the threat posed by AI-related fraud.

“We anticipate it will grow. That’s one of the things with technology. The more technology grows, it makes business and transactions more convenient, as well as the criminals. It makes it more convenient for them.

“Preventative Measures, we have to stay connected and keep our pulse on the trends. If the nature of the threats change, we want to find the tools and systems to mitigate it. We cannot stay still. Just as the criminals don’t stay still and adapt, those of us trying to prevent theft and loss have to stay nimble as well. We have to keep evolving and adapt to what’s out there.”

Mr Newry, responding to recent reports of Bahamians falling victim to debit and credit card skimming, said this type of fraud is

next step-up is the so-called ‘secondary market’ that is set to be the last unveiled. The secondary market will be the last of four layers to BISX and the Bahamian capital markets, lying below the top tier which is the existing ‘main board’ of publicly listed and traded companies such as Commonwealth Bank, AML Foods and Cable Bahamas. The expansion is key to the exchange’s plans to broaden and deepen the Bahamian capital markets, and better match investors with companies seeking financing so as to generate faster economic growth and job creation. Sir Franklyn, though, argued that BISX reform is “fundamental” for growing both the wider Bahamian capital markets and the economy. “It’s one of prime minister Hubert Ingraham’s greatest legacies as far as I’m concerned, along with the late finance minister Sir William Allen. He got BISX formed,” the FOCOL Holdings chairman said. “It’s one of the lasting legacies from the Ingraham era, and I give him credit.” He added that getting BISX and the Bahamian

less prevalent than it was 10-15 years ago - especially with banks moving to more modern automated teller machines (ATMs), and eliminating the magnetic strips on the back of cards that could be easily read and cloned.

“It’s still there, it still exists, but from my experience and what we’ve been seeing, I don’t think it’s as major an issue as it was 10-15 years ago,” he said, adding that fraudsters are

capital markets right would have an “immeasurable” impact and “do the equivalent of what the capital markets do for the US”. Sir Franklyn said of the exchange: “It’s been helpful, but not as good as it should have been or we want it to be.”

BISX had to be rescued by a government-sponsored bail-out enacted via the Central Bank of The Bahamas during the period 2003-2005. However, long-standing complaints surrounding liquidity - the willingness of buyers and sellers to conduct share transactions - has to be placed against the context of The Bahamas’ relatively small population size of 400,000 and exchange controls regime that limits market size. Most share owners also tend to buy and hold, rather than actively trade, shares.

Sir Franklyn, meanwhile, praised the organisers of yesterday’s Speech from the Throne. “Given the shrortage of time in which they had to do that, and the logistics that had to be extremely challenging, that was exceptionally well done,” he said. “It speaks extremely highly to all persons that had something to do with that.”

increasingly moving to online and digital means to commit their crimes.

Skimming involves someone inserting a card-reading device into an ATM that records a person’s financial information and bank account details, as well as the card PIN, via reading the magnetic strip on the back of the card. This then allows them to create a cloned card and start withdrawing money from a person’s account.

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Gov’t planning to create Cyber Security Authority

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Davis administration yesterday outlined proposals to modernise labour protections, tighten Immigration enforcement and strengthen national cyber security systems during its new parliamentary term. The initiatives were detailed in the Speech from the Throne delivered by Governor General, Dame Cynthia “Mother” Pratt, at

the opening of Parliament yesterday. The Government announced plans to introduce the Employment Bill 2026, which it described as the “most significant modernisation of labour protections in a generation”.

“My government believes the dignity of work must remain central to national policy,” Dame Cynthia said. She said the legislation will strengthen workplace standards, expand maternity protections, provide leave for mental health and wellness, and establish

Nvidia Q1 results surpass Wall Street expectations thanks to massive AI chip demand

By BARBARA ORTUTAY AP Technology Writer

ARTIFICIAL intelli-

gence chipmaker Nvidia’s quarterly results surpassed Wall Street’s expectations once again, fueled by massive demand for its high-end AI chips. The company said Wednesday it earned $58.32 billion, or $2.39 per share, in the February-April period, up from $18.78 billion, or 76 cents per share, in the same period a year earlier. Excluding one-time items, Nvidia earned $1.76 per share.

Revenue jumped 85% to $81.62 billion from $44.01 billion.

Analysts, on average, were expecting earnings of $1.75 per share and revenue of $78.91 billion, according to a poll by FactSet. Nvidia’s results have exceeded the analyst projections that shape investors’ perceptions since Nvidia’s high-end chips emerged as AI’s best building blocks three years ago. “The buildout of AI factories — the largest infrastructure expansion in human history — is

additional safeguards for working parents.

The administration also intends to reform and modernise the National Insurance Board (NIB) system through stronger anti-fraud measures, upgraded digital systems, enhanced oversight and broader inclusion of informal workers. Additional labour-related initiatives include the establishment of a public sector pension plan and creation of a National Productivity Council aimed at improving public sector efficiency

accelerating at extraordinary speed,” said CEO Jensen Huang in a statement.

Along with higher profit and revenue, however, Nvidia’s operating expenses increased by 49% to $7.75 billion.

For the current quarter, Nvidia forecast revenue of about $91 billion. Analysts are forecasting $87.29 billion.

Despite the solid results and outlook, many investors still evidently are worried about a comedown after a three-year boom that has seen Nvidia’s market value soar from $400 billion at the end of 2022 to $5.4 trillion as of Wednesday.

Shares of the Santa Clara, California-based company dipped slightly after-hours to $222.12 after closing at $223.47 in the regular trading session.

“Time and time again, (Nvidia) obliterates

and national performance benchmarks.

On Immigration, the Government said “strong borders and lawful immigration systems are essential to national stability and sovereignty”.

The administration plans to introduce an Employer Immigration Compliance Act, imposing stronger penalties for abuse of the work permit system and other unlawful employment practices.

The Government also intends to establish a Bahamian e-verify portal

expectations and consensus; it delivered exactly on what people wanted, especially regarding data centers,” said David Wagner, head of equity and portfolio manager at Aptus Capital

to confirm work eligibility before employment, while introducing daily over-stay fines and strengthening re-entry ban enforcement. Additional measures include a national biometric Immigration system featuring overstay alerts and biometric e-gates, alongside enhanced fraud detection capabilities.

The Davis administration further announced plans for an Immigration Fraud Intelligence Unit dedicated to investigating and prosecuting Immigration fraud, as well as mandatory

Advisors. “But the market doesn’t always act as you would expect after a strong report like this one.”

The company also announced plans to return some money to

sentencing provisions for public officers found facilitating Immigration or passport fraud.

The Government also linked national security to digital security, pledging comprehensive cyber security legislation establishing a National Cybersecurity Authority. The proposed measures are intended to strengthen digital forensics capacity and improve online child protection systems.

shareholders. It authorized a plan to buy back $80 billion worth of stock and increased its quarterly cash dividend to 25 cents per share from 1 cent.

Sumner Point chief’s fear for sale over renewed flare-up

before COVID-19 struck.

Then-justice Indra Charles ordered Mr Cummings and an associate to each pay a $25,000 fine to avoid bein jailed for three months in Fox Hill prison as well as cover Mr Little’s and Sumner Point’s legal costs.

The ruling, which has been seen by Tribune Business, also ordered Mr Cummings to “pay full restitution” for destroying multiple buildings and structures at Sumner Point, including the ‘Out of the Blue Restaurant’, ‘the Kalik House’ and four beach cottages as well as utilities, dock and road infrastructure. An appeal against this was unsuccessful, and Mr Little yesterday alleged that - while his rival has paid the fine and his legal fees - he has not paid any restitution for the project’s destruction.

Then-justice Charles ruled that an “assessment of damages” should be undertaken, and Mr Little is asserting that an appraisal performed on his behalf by a Nassau-based quantity surveyor pegged the sum due to him at $15.5m. He said he has been unable to rebuild Sumner Point and its marina after becoming “financially exhausted”, adding that he is unsure whether he will pay further legal fees “to keep fighting any more”.

Mr Little also revealed that Mr Cummings’ return

‘Maximise’

to Rum Cay, and activities that allegedly amount to “trespassing” on Rum Cay’s property, threaten to disrupt Sumner Point’s potential sale to a buyer whose identity he did not disclose. “I’ve not gone through with the sale although I have got a really good buyer,” he said. “The buyer I have has been with me for about a year. I wanted to first finish the restitution and deal with Dave Cummings. Mr Cummings, who runs a pollution control company in New York state, could not be tracked down for comment by Tribune Business yesterday. He and Mr Little have been feuding on Rum Cay for more than a decade with demolished buildings central to the dispute between the two parties. However, in letters and e-mails seen by Tribune Business, Mr Little and Sumner Point Properties yesterday appealed for “urgent” assistance from the police and regulatory authorities over Mr Cummings’ reappearance.

Sumner Point Properties, in a letter addressed to Superintendent Edison Lewis and Inspector Curtis, the police officers in charge of San Salvador and Rum Cay, respectively, plus local councillor Dave Knowles, argued that Mr Cummings was violating the 14 year-old Supreme Court injunction Order prohibiting him from “interfering with the use of the marina” and taking actions

returns by sellling

less to BPL

- from page B1

& Light (BPL) grid. This is because the ‘avoided’ cost of energy, which in the earlier study was pegged at 31 cents per kilowatt hour (KWh), was higher than the 17 cents per KWh they would have been paid for exporting to BPL - an 82.4 percent difference.

Solar system owners are paid the equivalent of BPL’s prevailing fuel charge, which was around 17 cents per KWh at the time the first limited assessment was done, under a net billing system. Acknowledging the limited sample size from its first effort, and with questions about some of the

data submitted, URCA said it was nevertheless able to make “interesting observations” that suggest solar energy investments do pay off for the majority of those who install them.

“Over half of the systems studied are projected to be a good investment for the individuals. These systems are likely to beat inflation. Eight out of eleven systems also had a positive net present value over their expected useful life of 20 years, applying a discount factor of 5 percent,” the regulator said.

“This compares favourably with the available return on a Bahamas Government bond over a similar period. Hence, if a government bond

that impact this amenity and the gas stations.

“We have now received information, together with photographs, indicating that Mr Cummings is presently on the ground in Rum Cay at the marina and is actively carrying out works, most specifically trespass, and including digging and dredging activities. These actions appear to be directly contrary to the terms and intent of the existing Supreme Court injunction,” Sumner Point Properties and Mr Little alleged.

“We are therefore placing the relevant local authorities on formal notice of this matter, and respectfully requesting immediate intervention to have Mr Cummings cease and desist from all such activities at once. Given the existence of a court Order, and the seriousness of the conduct now being reported, we ask that this matter be treated as urgent.

“For clarity, this is not a private disagreement being raised in isolation. The Supreme Court has already issued an Order restraining the conduct complained of, and the continued activity at the marina risks further damage to the property, further escalation of the dispute and potential contempt of court.”

For good measure, the Sumner Point owner also sought intervention by the Department of Environmental Planning and

is the next best alternative, installing a PV system can be an attractive option. On average, people can expect to make their money back within ten years after installation.” URCA also said its assumptions about reduced BPL energy consumption were largely correct, having estimated that this would be around 30 percent lower for persons now using solar systems.

“A comparison was made between the units billed before the PV system was installed and the units billed after the PV system was installed. The expectation would be that the units billed would drop by the amount being produced by the PV system,” URCA said.

“This turned out to be the case. On average, the units billed after the PV system was installed were 34 percent lower than before.

Protection (DEPP). In an e-mail to Dr Rihanna Neely-Murphy, DEPP’s director, it said that no authorisation had been given by itself or nearby property owners for the dredging and excavation, and it was unaware of the necessary certificate of environmental clearance (CEC) or relevant permits being granted.

“In the circumstances, we are respectfully requesting the urgent intervention of the Department of Environmental Planning and Protection. We ask that your office immediately investigate this matter and take any necessary steps to stop any unauthorised dredging, excavation or environmental disturbance at Sumner Point Marina pending proper verification and enforcement action,” Sumner Point Properties added.

Mr Little told Tribune Business that he had simply lacked the financial and other resources to “start over again”, and rebuild Sumner Point and its marina following his eventual Supreme Court success, with $4m-$5m in capital investment required following the building demolitions by Mr Cummings. He described the latter’s prior efforts as a “takeover” by force, and fears he may now be attempting to do this again.

“We opened right after we won, but because there was so much destruction

Hence, persons were saving about a third on their electricity bill compared with before.” However, the amount of solar energy being exported, and sold, to the BPL grid was 40 percent less than URCA had anticipated - a result it blamed, at least partially, on persons having installed solar panels in locations that do not capture maximum sunlight.

“Any units that are produced by the PV system and not consumed by the property are fed into the electricity grid. BPL compensates customers at the prevailing fuel charge for these units. As mentioned above, these units were valued at 17 cents per kWh for the study. The units exported to the grid are shown on the customer’s bill,” URCA explained. “A check was made to see if the numbers lined up with what was expected.

“To do this the ideal system output was compared to the number of units (kWh) BPL recorded being fed into the grid. The ideal system output was

we didn’t have an office, we didn’t have a pier, we didn’t have fuel,” he said. “We had to start over again. We had nothing to restart a business. Boats could come in, but there were no jobs and no way to bring it back. The marina needed input of $4m-$5m minimum to get it back up to where it was. I was exhausted financially.”

Mr Little added that Sumner Point’s post-demolition revival was also delayed after the Government claimed legal ownership of a 15-acre tract within its 80-acre property.

The Government had also initially challenged Sumner Point Properties’ ownership of the entire property, but the Supreme Court rejected both claims after finding that the Government’s former acting surveyor general, Thomas Ferguson, contradicted himself when giving evidence under cross-examination.

Having successfully overcome that obstacle, Mr Little yesterday said Mr Cummings’ return to the island threatens to create a new hurdle. “His equipment is moving over our roads, trespassing on our property,” he said. “He’s interfering with the sale of the business for Sumner Point. He’s destroying the future of Sumner Point…

“My family has worked so hard to make Rum Cay a really nice place and destination for people. We provided jobs, gave work

calculated by subtracting 30 percent (that consumed internally) from the system output calculated using PV watts.

“The results showed that the actual was 40 percent lower than expected. This result is not necessarily surprising because most systems are not installed under ideal conditions - south-facing at the right angle with no shading. It does show that persons should pay attention to how the system is installed to maximise its output and their financial return.”

URCA added that there was also a clear connection between the upfront cost that Bahamian homeowners paid for their solar systems and the investment returns.

“There was significant variation in how much people reported paying for their systems. It ranged from $1 per watt to $10 per watt and was the deciding factor on a systems return on investment,” the regulator said.

“Spending more than $5 per watt for a PV system is likely to yield a negative

to all the people there. My father was back and forth from Rum Cay since 1965. I don’t want to lose everything we have worked so hard for all those years for. It’s all we have. My dad was a civil engineer, middle class. He took all his money, bought the property in Rum Cay, set up a Bahamian company, did everything legally and worked to make Rum Cay better.

“We did it from the heart. We didn’t make millions of dollars. It’s what this country needs, not these big companies coming in ripping and reaping. All we have is vacant land, big sand dunes and destroyed buildings,” Mr Little said. “We have followed the law and done everything legally, and it’s not worked in our favour. We would have been better being lawless.

“We followed the law, the courts were slow, and nobody went the extra mile to stop him. Rum Cay doesn’t have a future. I want Rum Cay to come back. I want to go back to Rum Cay and enjoy it, but I can’t. I’ve been put in such a spot financially. Now, we’ll find out in the next few days what legal rights we have. I might have to come up with another $500,000 in legal costs to keep fighting. I don’t know if I have the amount to keep fighting any more.”

In the meantime, Mr Little said Rum Cay continues to depopulate, estimating that around 40-50 persons still remain on the island.

return on the investment.

Spending around $4 per watt should beat inflation or leaving your money in the bank.

Spending $3 or less should exceed the opportunity cost of investing in stocks or bonds. Realistically, in terms of what is available, people spending $3.50 per watt can be considered as having made a good investment in economic terms.”

Citing other “key takeaways”, URCA said: “Units that are produced by the PV system and consumed internally are worth about twice as much as those fed into the grid, approximately 31 cents versus 17 cents. Hence, people can maximise the economic return on their PV investment by consuming more units and exporting less.

“People can improve the economic return on their PV investment by ensuring their system is installed to maximise output - south-facing at an angle of about 25 degrees to the horizontal and unshaded - not in the shadow of trees or other structures.”

SpaceX reveals plans for what could be the biggest-ever initial public offering

By BERNARD CONDON Associated Press

ELON Musk announced plans Wednesday for one of the biggest sales of stock to

the public ever for his space company that is currently losing billions of dollars year. A filing Wednesday shows Musk’s SpaceX lost

$2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

NASA and the Defense Department and other government agencies in the past five years, according to USAspending.gov. The company notes in its filing that a fifth of its revenue last year was attributable to the federal government.

on the 13th day of May 2026 under the provisions of the Investment Condominium Act, 2014.

Deltec Fund Directors Ltd. Liquidator

PUBLIC NOTICE NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The public is hereby advised that I, DESTIN ISSAC ROLLE of P.O. Box SS-5253 Bahama Coral Island, Marsh Harbour, Abaco, Bahamas intend to change my name to DESTIN ISAAC ROLLE. If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.

INTENT TO CHANGE NAME BY DEED POLL PUBLIC NOTICE

The public is hereby advised that I, SHORN O’BRIEN of E/ Mount Royal Avenue, Nassau, Bahamas intend to change my name to SHAWN O’BRIEN. If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.

NOTICE

NOTICE is hereby given that I, MARKENSON CORNEILLE of Marsh Harbour, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 21st day of May, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that I MARC JOSEPH LANDRY of, #33 Kingfisher Drive, Nassau, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 21st day of May, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

The prospectus did not put a dollar figure on the amount Musk hopes to raise but various reports have put it at $75 billion or so. An offering of that size would easily surpass the current title holder, Saudi Aramco, the oil giant that went public seven years ago and raised $26 billion.

SpaceX, formally known as Space Exploration Technologies Corp., has said the money will help to finance projects to put men on the moon and maybe someday Mars in its quest to make humans an intergalactic species as they face existential threats that could wipe out civilization.

“We do not want humans to have the same fate as dinosaurs,” the filing stated.

The stock sale could also make Musk, a major owner who founded SpaceX in 2002, the world’s first trillionaire. Forbes currently puts Musk’s net worth at $839 billion.

In addition to making reusable rockets to hurl astronauts into orbit, SpaceX has other businesses, some successful, some struggling — and with plenty of questions marks.

The document showed Starlink, the world’s largest satellite communications company, is a big cash generator for the company, generating $4.4 billion in operating income last year. The business uses 10,000 satellites in low orbit to provide internet service to 10 million people in 150 countries and territories.

Among the struggling business are two Musk units that were recently acquired by SpaceX — his social

NOTICE

COLWORTH LIMITED

Pursuant to the provisions of Section 138(4) of the International Business Companies Act, 2000, Notice is hereby given that COLWORTH LIMITED is in dissolution and the date of commencement of the dissolution is the 10th day of April 2026. The Liquidator of said company is ELCO CORPORATE SERVICES LTD., located at Loyalist Plaza, Don Mackay Blvd., P.O. Box AB 20377 Marsh Harbour, Abaco, Bahamas.

Elco Corporate Services Liquidator

media platform X, formerly Twitter, and his artificial intelligence business, xAI. Those purchases were blasted by some SpaceX investors as bailouts because the businesses are big money losers. The prospectus said its AI business lost $6.4 billion in operations last year. The original SpaceX business, making rockets and staging launches, has been helped by massive government contracts, which themselves raises questions that could come back to haunt the company. Given Musk’s close relation to the Trump administration, government ethics lawyers and watchdogs have asked if he has gotten special treatment to win taxpayer money and whether that good luck will run out once President Donald Trump is out office. SpaceX has won contracts worth $6 billion from

Musk was the biggest donor to Trump’s presidential campaign and is still a big backer despite their sometimes rocky relationship after his stewardship of the government cost-cutting effort called DOGE early last year.

The document also shows Musk will be able to exert big control over the business.

It says Musk and certain other shareholders will receive shares in a special class of stock that gives them 10 votes for each share they hold. Those shareholders will be able, among other things, to elect a majority of the company’s board of directors.

“This will limit or preclude your ability to influence corporate matters and the election of our directors,” SpaceX said in a warning to prospective investors.

NOTICE

A3R CO. LTD.

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 207699 B (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 18th day of May A.D. 2026.

Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Vilmar Szigel, whose address is Rua General Carneiro 215, Apto 142, Ponta Grossa, CEP: 84010-370, Ponta Grossa, PR, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 17th day of June A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 18th day of May A.D. 2026.

VILMAR SZIGEL LIQUIDATOR

SPORTS

Team Bahamas has another ‘strong regional showing’

By JONATHAN BURROWS Tribune Sports Reporter jburrows@ tribunemedia.net

THE Bahamas Bodybuilding, Wellness and Fitness Federation is continuing its push to grow bodybuilding, wellness and fitness throughout the country following another strong regional showing by Team Bahamas in Barbados.

The federation recently returned from competition with a three-member delegation consisting of professional athlete Kaif Young along with amateur competitors Alexander Kemp and Judah Forbes.

Kemp captured second place in Male Fitness, while Forbes secured fourth place in Men’s Physique against regional competition.

But federation president Wellington Sears said the success in Barbados represented much more than medals and placements.

“The Bahamas Bodybuilding, Wellness and Fitness Federation is moving forward and getting more young people on board,” Sears told Tribune Sports. “At the same time, the importance of that was good, especially with the judge, because now we need more new judges, so we have a new continental judge.

“We definitely want to promote fitness and nutrition here in The Bahamas and also lead the world.”

One of the federation’s biggest developments coming out of the trip was the appointment of Hendrick Sands as a continental judge.

Sears described the appointment as a major step not only for the federation, but for the country as a whole.

“Now we got a Bahamian judge that could compete and judge internationally,” Sears said. “A lot of Caribbean islands don’t have qualified judges, and we are proud of that.”

Sears added that Sands’ contribution to the federation goes far beyond judging.

“These gentlemen selffund themselves because they have interest in the sport,” Sears said. “He is also the IT manager of the federation. He came on board because he wanted to help.”

The federation president said the organisation is also seeing growth behind the scenes with the addition of more officials.

“We have five new judges now,” he said. While the federation continues to produce competitive athletes internationally, Sears admitted that financing remains one of the biggest obstacles facing bodybuilding and fitness in The Bahamas.

“That’s it right there — finance,” Sears said.

“Receiving finances in a fast and speedy way because when you go to corporate

sponsors, everybody has a problem now sponsoring.”

Sears said support remains limited, although the federation has received assistance from a few key partners.

“Standard Services has been sponsoring from the beginning,” Sears said.

“They are located on Shirley Street. Also, Island Luck sponsored the team last year, and then we depend on government support.”

He said more sponsorship is desperately needed because of the high costs attached to international competition.

“It’s hard,” Sears said.

“You gotta be buying tickets for people. These athletes invest heavily in training, nutrition, travel, accommodations and competition preparation.”

Attention now shifts toward the 2026 Bahamas National Championships, scheduled for July 27, where

the federation will select its team for the CAC Championships in Guatemala from August 27-31.

“The nationals would be used to choose our team for the CAC Championships, so the importance is right there,” Sears said.

Sears said the federation is hoping to field a stronger and younger national team moving forward.

“I definitely would like to have more young people on the team,” he said. “We have a definite big problem with our youth, especially our young men, losing them, so if sports can be an avenue they can turn into, I definitely would like to be one of those individuals that help.”

The federation has already started targeting younger athletes through outreach and promotion efforts. “We advertise on social media because young people like social media,” Sears said. “We are going

into the schools and trying to encourage parents and others. Anybody interested, we would like to have them on board.”

Although bodybuilding remains the federation’s flagship sport, Sears said his larger focus is wellness, health and creating a clean sporting environment.

“Bodybuilding is the sport, but wellness is definitely awareness,” Sears said. “My main focus is health because the health of the nation is the wealth of the nation.”

Sears said the federation is committed to promoting drug-free competition and healthy lifestyles. “I want a nice healthy atmosphere for individuals to compete free from drugs, especially illegal drugs,” he said. “We like to deal with clean sports.”

Sears believes the federation’s progress over the past few years shows that more Bahamians are beginning to buy into the vision.

He pointed to the federation’s regional improvement after previously finishing eighth before climbing to second place last year.

“More participation, more interest and more people believing in the vision,” Sears said when asked about the growth. “The same thing is happening behind the scenes.” Sears also encouraged young Bahamians to place greater emphasis on fitness, nutrition and long-term health.

“Everything comes to health,” he said.

“Continue to stay fit. Continue to be involved in sports and nutrition. It’s a gateway to solving problems because your health is important.

“I don’t care what you do — if you focus only on your career and don’t focus on your health, every dollar you make you will spend it back when your health is gone.”

Michelob ULTRA delivers unforgettable NBA playoff experience for Bahamian winners

FOUR lucky Bahamian basketball fans recently experienced the thrill of NBA playoff basketball live in Atlanta after winning an all-expense-paid trip through the Michelob ULTRA NBA promotion hosted by Jimmy’s Wines & Spirits.

The promotion invited customers to purchase a sixpack of Michelob ULTRA at any Jimmy’s Wines & Spirits location for a chance to win the ultimate basketball getaway.

The two winners, Lashad Strachan and Tre Hanna, and their guests were flown to Atlanta to witness the New York Knicks face off against the Atlanta Hawks during an electrifying playoff showdown at State Farm Arena.

The game itself proved to be one for the history books. In front of a roaring playoff crowd, the Hawks edged out the Knicks in a dramatic 109-108 victory that came down to the final seconds. With the arena on its feet and tension building

possession after possession, Atlanta sealed the win with a clutch defensive stop that sent the hometown crowd into celebration mode and gave the visiting Bahamian fans an unforgettable firsthand taste of NBA playoff intensity.

For Lashad Strachan, the experience exceeded every expectation.

“When I got the text that I won, I was actually shocked because I entered the raffle with no intention that I would really win, so it was truly a blessing,” Strachan said.

“The best part for me was definitely the game because it was my first time ever going to an NBA game. I always wanted to experience that one day, and for it to happen through an all-paid trip was amazing. I had fun from the beginning of the trip right to the end. Mr. Cooper made sure we were comfortable the whole time and really made the experience even better. It’s something I’ll never forget.” The trip was coordinated by Cortez Cooper, brand

manager, who accompanied the winners throughout the experience and said the promotion reflects the company’s commitment to rewarding loyal customers with memorable opportunities. “I’m excited that we

are continuously creating unforgettable experiences for our consumers by taking two lucky winners and their guests to witness the excitement of the NBA Playoffs live as the New York Knicks faced off against the Atlanta

Hawks,” Cooper said.

“This promotion reflects Michelob ULTRA’s and Jimmy’s commitment to bringing fans closer to the sports moments they love while celebrating an active, social lifestyle with one of the world’s most exciting sporting events.”

Michelob ULTRA, recognised globally as the official beer sponsor of the NBA, has become increasingly associated with sports culture, social experiences and premium fan engagement. Through partnerships like this, Jimmy’s Wines & Spirits continues to connect Bahamian consumers with world-class sporting moments while strengthening customer appreciation through exciting promotions and giveaways.

Over the past several years, Jimmy’s Wines & Spirits has consistently introduced large-scale customer experiences tied to major international brands, ranging from exclusive sporting trips and concert experiences to cash giveaways and VIP events.

Promotions like the Michelob ULTRA NBA campaign continue to build excitement among loyal customers. It also reinforces the company’s reputation for creating experiences that go beyond the shelf.

The Atlanta playoff trip also highlighted the growing popularity of basketball in The Bahamas, where many fans closely follow the NBA season and dream of one day witnessing the playoff atmosphere in person.

“I was extremely pleased that Michelob Ultra chose this particular game to go to,” added Cooper.

“As our own Bahamian basketball player Buddy Hield is on the Hawks team, which made it even more exciting!”

As the NBA postseason continues, Jimmy’s Wines & Spirits says customers can expect even more engaging promotions and experiences in the future, all aimed at celebrating the people who continue to support the brands they love.

Cavs shrug off concerns about Harden as they try to even East finals against Knicks

By BRIAN MAHONEY AP Basketball Writer

GREENBURGH, N.Y.

(AP) — Jalen Brunson against Donovan Mitchell was the matchup splashed across the screens to hype the Eastern Conference finals.

Unfortunately for the Cleveland Cavaliers, it turned into Brunson versus James Harden in the fourth quarter of Game 1.

Brunson continuously attacked the matchup to spark one of the largest postseason comebacks on record, as the New York Knicks rallied from a 22-point deficit in the fourth quarter for a 115-104 victory. A day later, the Cavaliers shrugged off concerns that one of the most accomplished offensive players in league history might be too poor of a defender to give them NBA Finals hopes.

“I know everybody’s putting it on James, but

I’d say a lot of, it’s on the team, our team defence,” coach Kenny Atkinson said yesterday after the Cavaliers practiced at Madison Square Garden. “And we were great for three quarters. Like, really, really great. So we can do it.”

The Cavs will try again tonight, hoping to even the series before it shifts to their home court over the Memorial Day holiday weekend. Atkinson took as much, if not more, heat than Harden for waiting too long to use a timeout to stop New York's momentum after Brunson kept driving right at Harden as the catalyst for an 18-1 run.

“Kenny’s a great coach and we know that they’re going to come out ready to play,” said the Knicks' Mike Brown, who worked with Atkinson when both were assistants to Steve Kerr in Golden State. “They came to New York to get one

game and it’s still within reach.”

The Cavs know they should have it already. They controlled the middle two quarters against a Knicks team that showed plenty of rust in its first game since May 10. Looking nothing like the team that won by 19.4 points per game in the previous two rounds, the Knicks finally went to an offensive scheme that forced Harden to switch onto Brunson, and the AllStar guard had four straight New York baskets during the run.

Cleveland reserve guard Dennis Schroder credited Brunson more than blaming Harden.

“Jalen Brunson is one of the most clutch players in

KNICKS’ Jalen Brunson, bottom, drives past Cavaliers’ James Harden during the second half of Game 1 on Tuesday in New York. (AP Photo/Seth Wenig)

the NBA. Social media for that is just in a bad place,” Schroder said. “I think that we lost the game. Basketball is a team game. It’s everybody on the bench, coaches, the guys who were on the court. At the end of the day,

he made some tough shots and good credit.”

The Cavaliers surged late in the season after acquiring Harden from the Los Angeles Clippers. Harden is ninth in NBA history with nearly 30,000 points and also 12th in assists. The 2018 NBA MVP was playing on an MSG court Tuesday where he shares the record with Kobe Bryant for points by an opponent with 61.

But he's had some sloppy performances in the postseason and Game 1 was another. Harden shot 5 for 16 overall and 1 for 8 from 3-point range, and had twice as many turnovers (6) as assists. He's bounced back before and Atkinson believes he will again.

“I said, ‘Without you, we’re knocked out in the first round.’ That’s my first (opinion). My personal opinion," Atkinson said. "So, let’s just stop that. We’re in a great position. ‘You’ve played great.’ You

THE WEATHER REPORT

know, sometimes micro experiences get exaggerated. ‘So, you know, keep being yourself.’”

The Knicks, who have won eight straight games, understand how the Cavs must be feeling, after a loss that was every bit as gut-wrenching in Game 1 of the 2025 East finals. New York led Indiana by 14 points with under three minutes remaining in regulation. The Pacers rallied to tie when Tyrese Haliburton's long jumper bounced high off the rim and fell through as time expired, then won 138-135 in overtime.

“Obviously they’re looking at it like that was our game that we gave away,” Knicks forward Josh Hart said of the Cavaliers. “And they’re looking at film of, ‘If we fix this here or fix this here, we would have won the game.’ And that’s what they’re going to try to do tomorrow.”

Jonquel and New York face Golden State tonight after Stewart’s 22-point game

By The Associated Press

Golden State Valkyries (2-1, 2-0 Western Conference) at New York Liberty (3-1, 2-0 Eastern Conference)

New York; Thursday, 8pm EDT

BOTTOM LINE: New York Liberty hosts the Golden State Valkyries after Breanna Stewart scored 22 points in the New York Liberty's 100-82 victory over the Portland Fire.

New York finished 27-17 overall with a 17-5 record at home during the 202526 season. The Liberty shot 45.3% from the field and 35.5% from 3-point range last season. Golden State finished 23-21 overall a season ago while going 9-13 on the road. The Valkyries averaged 77.7 points per game while allowing opponents to score 76.3 last season.

Valkyries: Cecilia Zandalasini: out (concussion), Iliana Rupert: out (pregnancy), Tiffany Hayes: out (finger), Juste Jocyte: out (not injury related).

INJURIES: Liberty: Leonie Fiebich: out (not injury related), Sabrina Ionescu: out (ankle), Raquel Carrera: out (not injury related).