Daily Archives: August 24, 2026

Private military companies – Russian great power politics on the cheap?

Private military companies – Russian great power politics on the cheap? Åse Gilje Østensena The Naval Academy,Norwegian National Defence College Bergen, The Royal Norwegian Naval Academy, Bergen, NorwayCorrespondenceaostensen@mil.no View further author… You must be logged in to view this content. … Continue reading

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THE BOYLE DEFENSE FOR GOVERNMENT CONTRACTOR LIABILITY: THE SETBACKS OF THE CURRENT STANDARD AND THE NEED FOR A LESS RESTRICTIVE DEFENSE

The Boyle Defense currently prevents individuals injured by a government contractor from recovering damages if the government contractor can follow the three-step Boyle Defense test. This Note proposes two solutions that will allow a greater number of individuals injured by government contractors to recover damages successfully. First, the Note proposes limiting the Boyle Defense to only government contractors who are working on military contracts. Next, the Note proposes an alternative solution that prevents government contractors who are engaged in service-based contracts from using the Boyle Defense. These two limitations will reduce the number of government contractors escaping liability. As this Note will demonstrate, the current standing of the Boyle Defense needs to be limited in its application to allow those injured by government contractors a greater likelihood of being able to recover damages. Continue reading

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Swarmer, Inc.: A Speculative Stock With A Broken Income Statement

The company produces and sells vendor-agnostic drone-swarm software to drone manufacturers, with a technology that is actually validated, as more than 100,000 combat missions flown on Swarmer OS in Ukraine since 2024.
However, this is where the bullish news end. TTM revenue is $297k, against a market capitalisation of $496M and an EV/Sales multiple of 1,581x (incredibly above the peer median of 21x). The company has no cash generation, with SG&A and share-based compensation expenses dominating the R&D expenses and the whole income statement. The company has no solid governance, with the founder that resigned as a CEO Global with no successor.
There are no fundamentals driving the share price, which should be trading around $5-6 per share. The stock is purely a speculative investment based on the premium a strategic acquirer would pay in a M&A transaction involving Swarmer.
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