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  • MIL-OSI: Quick Custom Intelligence (QCI) Expands Global Footprint to 17 Countries, pursues Business Development in 10 More

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Feb. 11, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI) continues its rapid expansion, now operating in 17 countries while actively developing business opportunities in 10 additional markets. This growth, combined with QCI’s presence across 30 U.S. states and 90 tribal nations, cements the company’s position as a global leader in casino and resort intelligence.

    “Our expansion into 17 countries is a testament to the universal value of our solutions,” said Andrew Cardno, CTO and Co-Founder of QCI. “We are seeing a clear validation of our business model across diverse markets, proving that our technology can adapt to regional needs while maintaining its core strength in data-driven decision-making. As we continue to grow, our focus remains on delivering unparalleled analytics that drive operational excellence.”

    A key factor in QCI’s success has been the introduction of generative cognitive offloading, allowing operators to streamline complex decision-making by leveraging real-time data intelligence without the burden of manual query building. The Chatalytics™ graph and query builders have been particularly well received, providing a revolutionary way for operators to interact with their data using natural language and intuitive visualizations. This next-generation tooling ensures that decision-makers can effortlessly explore insights, refine queries, and drive actions with unprecedented speed and accuracy.

    QCI’s expansion is bolstered by its strong partnerships, including Modulus, a leading international technology firm.

    “This level of global adoption underscores the effectiveness of QCI’s platform in optimizing gaming and hospitality operations,” said Marc Attal, COO of Modulus. “We are excited to see QCI’s solutions enhancing data activation, operational efficiency, and customer engagement across multiple continents. The ability to offload complex analytical tasks onto generative cognitive models, coupled with Chatalytics’ intuitive graph and query builders, is transforming how operators interact with their data.”

    With an increasing presence across North America, Europe, Asia, and beyond, QCI is at the forefront of innovation, empowering gaming and resort operators with generative cognitive offloading, intuitive query-building tools, and real-time data activation.

    ABOUT Modulus Group
    As one of the world’s largest independent gaming management system providers, Modulus operates across 40 countries spanning Europe, Africa, South America, Canada, and Asia. Our multilingual suite of management software empowers gaming operators to optimize revenues and efficiently manage costs. With headquarters in Monaco and offices in France and Austria, along with partner offices in South Africa, Latin America, and Asia, our dedicated team of R&D and support professionals ensures the highest levels of customer engagement and product development. Explore the innovative technology of SYSTM Connect, enhancing player experiences and delivering fast, reliable network communication. Visit our website at www.modulusgroup.eu.

    ABOUT QCI
    Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and The Bahamas. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Dallas, and Tulsa. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

    ABOUT Andrew Cardno
    Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications. Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring eight influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavors.

    Contact:
    Laurel Kay, Quick Custom Intelligence
    Phone: 858-349-8354

    The MIL Network –

  • MIL-OSI USA: Fischer Reintroduces Legislation to Support Rural Hospitals

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer
    Today, U.S. Senator Deb Fischer (R-Neb.) reintroduced legislation to support rural hospitals. The Supporting Access to Rural Community Hospitals Act of 2025 grants rural hospitals flexibility when choosing reimbursement models so that they can have greater financial sustainability.
    Currently, hospitals designated as Critical Access Hospitals (CAH) receive cost-based reimbursement for all services to address the needs of their rural communities. Hospitals in the Rural Community Hospital Demonstration (RCHD) program only receive cost-based reimbursement for some services, while maintaining a higher number of beds.
    Senator Fischer’s legislation grants RCHD hospitals an optional, one-time election period to designate themselves as a CAH and meet the necessary eligibility requirements. The bill gives these essential hospitals the opportunity to choose between these two beneficial federal programs and enables them to continue serving their communities. U.S. Representatives Mike Flood (NE-01) and Adrian Smith (NE-03) introduced identical companion legislation in the House.
    “Rural community hospitals ensure that every Nebraskan can access the health services they rely on, regardless of their zip code. Our legislation will help rural hospitals remain sustainable by giving them the option to choose the program that best suits their current needs. I look forward to working with my Nebraska delegation colleagues as we champion this legislation in both the Senate and the House,” said Senator Fischer. 
    “Rural community hospitals are the backbone of healthcare across vast areas of Nebraska and the country. By giving these hospitals the ability to determine their future in the Rural Community Hospital Demonstration program, these facilities will be able to better meet their needs and the needs of the communities they serve, while also still delivering quality care to patients. Providing this option to hospitals currently in the RCHD program has the potential to unlock additional funding, empowering hospitals to expand and improve the services they provide. I am grateful to my fellow Nebraska colleagues, Congressman Smith and Senator Fischer, for their willingness to help lead this effort,” said Congressman Flood.
    “Hospitals serving rural populations in Nebraska and across the country should operate under the Medicare reimbursement designations which best fit their needs and circumstances. This bill provides for commonsense regulatory flexibility ensuring such rural hospitals can best serve Nebraskans. I thank Rep. Flood and Sen. Fischer for working with me to advance this legislative solution,” said Congressman Smith.
    The full text of the legislation can be viewed here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Banking Sector – ASB half year result: Profit up 1% as economy moves toward recovery

    Source: ASB

    ASB has reported a cash net profit after tax (NPAT) of $716 million for the six months to 31 December 2024, an increase of 1% on the prior comparative period, as the economy moves towards recovery.  

    Statutory NPAT is $763 million, a 2% increase on the prior comparative period. The increase in profit reflects a 4% rise in operating income driven by increased lending volumes and favourable interest rate hedging, partially offset by an 8% rise in operating expenses. Home lending grew 5% and business and rural lending grew 2% on the prior comparative period. Margins across lending and deposits remained flat overall.

    Profitability, measured by return on equity, fell 0.6% on the prior comparative period. The increase in profit was more than offset by additional capital requirements, with the total capital ratio rising 80 basis points to 16.3%. During the period there was additional shareholder investment of $700 million, bringing total shareholder investment in ASB to $11.4 billion, supporting growth in New Zealand.

    Chief Executive Vittoria Shortt says ASB has supported its rural, personal and business customers through more than two years of extremely challenging economic conditions and is well positioned to continue backing them as the economy enters the early stages of recovery.

    “New Zealand has been through the most difficult economic cycle in a generation, and we need to be patient with what looks like a gradual recovery. With lower interest rates and inflation providing some relief, and export incomes looking up for a number of sectors, our focus remains on supporting customers and providing capital for the next phase of economic growth.”

    Opening doors for homeowners

    ASB has cut its one-year fixed home loan rate by a total of 1.65% and six-month rate by 1.35% since July 2024.

    “Falling interest rates bring very welcome relief for Kiwi borrowers, but we’re aware most are on fixed mortgages, and the benefit is yet to be felt by many households. Around 45% of our fixed home loan customers are expected to roll onto a lower rate by the end of June, and 70% by Christmas. Since April 2024, we’ve seen borrowers shift toward shorter terms, with close to half of our fixed mortgage customers choosing to fix for just six months.

    “ASB helped more than 23,000 customers build, refinance, buy or move house over the half year, including close to 5,500 first home buyers, with around 3,600 using their ASB KiwiSaver for deposits.

    “We’re backing the build of more warm, dry homes and making it easier for social housing providers to buy them. Since our Accelerated Housing Fund launched in November 2023, we’ve committed $165 million, supporting around 450 new homes for community, affordable and Māori housing.

    “We are continuing to develop new ways to enable Māori to secure lending for housing on Māori land, including supporting papakāinga shared living projects. Through our Accelerated Housing Fund, we’ve now committed $34 million for Māori-led housing developments.”

    Strengthening exports, innovation and New Zealand  

    “ASB provided more than $1 billion in lending to new business, rural and corporate customers over the half year, as we continue to back businesses to compete, scale and drive the growth that will underpin New Zealand’s economic recovery.

    “Our $30 million Clean Tech fund and $20 million ASB ACCESS food and fibre fund are accelerating exporters and innovators ready to grow, but lacking capital to do so. We’re partnering with these emerging business at an early stage, finding new ways to approach lending and unlock their potential. Our food and fibre capability within ASB is also expanding to better support this key sector.

    “Another area where ASB can make an impact on New Zealand’s future is supporting upgrades to infrastructure. We estimate $1 trillion in infrastructure investment is needed over the next 30 years, with energy one of the critical sectors requiring funding. Enabling investment in renewable energy will be an ongoing priority for us, as our research tells us we can help households, businesses and farmers to cut costs, reduce emissions and improve profitability,” says Vittoria.

    Customers also benefit from rate relief

    ASB has passed on Official Cash Rate cuts to more than 110,000 personal, business and rural customers holding variable loans. “The majority of our rural and business customers float some of their lending, so rate relief flows through quickly,” says Vittoria.

    “Farmers have been under pressure in recent years, with depressed commodity prices and increased on farm costs, but conditions are improving for some rural sectors, particularly dairy.

    “We expect dairy revenues to be around $5 billion higher for the 2024/2025 season compared with the season prior through a lift in milk price and production. Beef prices are also up year on year due to tight supply and the lower New Zealand dollar.

    “Our dedicated rural team made 5,000 farm visits this half year to understand the issues and opportunities customers are seeing and to help grow their businesses for the future.”

    Further $140 million to fight fraud, scams and financial crime

    “We are continuing to invest heavily in people, technology and awareness initiatives to protect Kiwi against fraud, scams, and cyber and financial crime and expect to spend another $140 million this financial year.”

    While the volume of online banking fraud and scam cases increased 16%, customer losses were down a third in the year to December 2024. ASB stopped $29 million in suspicious card transactions in 2024 and responded to 18,000 after-hours calls to its 0800 ASB FRAUD hotline in the first year of 24/7 operations. Across the half year ASB identified and took down around 100 fake ASB websites, to prevent further harm from bank impersonation, a significant source of scams and fraud.

    ASB worked with the banking industry to introduce Confirmation of Payee, giving customers an extra layer of reassurance when making payments.

    Supporting customers’ financial progress

    “It’s positive to see customers continuing to save and invest. Our KiwiSaver and Investment funds have performed strongly and together generated more than $1 billion in investment returns for customers this half. The new ASB Aggressive Funds have delivered more than 20% investment returns for our KiwiSaver and Investment fund customers since they launched in November 2023.”[1]

    More than 580,000 customers used ASB’s digital financial wellbeing tools such as Goal Planner and Support Finder in the past year. These features and ASB’s ongoing investment in leading digital services were recognised by CanStar, which awarded ASB Best Digital Bank for the third year in a row.

    Delivering open banking

    Vittoria says: “Our open banking infrastructure is in place and to encourage early-stage uptake we’re providing it free to third-party providers for the first 12 months. The security of customers’ information remains our top priority: as banking continues to evolve it is critical banks, fintechs, global tech companies and all of government work together towards a common goal of the safe and secure sharing of data.”

    Financial overview

    Compared to six months to June 2024 (cash basis)

    • Total lending increased $2.6 billion or 2% to $112 billion
    • Total customer deposits increased $2.3 billion or 3% to $85 billion
    • Impairment losses on financial assets decreased $43 million or 72% to $17 million

    Compared to the December 2023 prior comparative period (cash basis)

    • Total lending increased $4.0 billion or 4% to $112 billion
    • Total customer deposits increased $3.4 billion or 4% to $85 billion
    • Impairment losses on financial assets increased $7 million or 70% to $17 million
    • Net interest margin increased 9 basis points from 2.21% to 2.30%
    • Cost to income ratio increased 140 basis points to 40.7%

    Compared to December 2023 prior comparative period (stat basis)

    • NPAT increased 2% to $763 million
    • Return on equity decreased 60 basis points to 13.5%

    [1] Returns are net of fees but before tax. Past performance is not an indicator of future performance, see ASB’s website for more information.  Interests in the ASB KiwiSaver Scheme and ASB Investment Funds (Schemes) are issued by ASB Group Investments Limited a wholly owned subsidiary of ASB Bank Limited (ASB). For the Scheme’s product disclosure statements, see ASB’s website.

    MIL OSI New Zealand News –

  • MIL-OSI Security: Readout of Chairman of the Joint Chiefs of Staff Gen. CQ Brown, Jr.’s Phone Call with Italy’s Chief of Defense Gen. Luciano Portolano

    Source: US Defense Joint Chiefs of Staff

    Office of the Chairman of the Joint Chiefs of Staff Public Affairs

    February 11, 2025

    WASHINGTON, D.C. — Joint Staff Spokesperson Navy Capt. Jereal Dorsey provided the following readout:

    Chairman of the Joint Chiefs of Staff Gen. CQ Brown, Jr., spoke with Italy’s Chief of Defense Gen. Luciano Portolano today by phone. 

    Gen. Brown and Gen. Portolano discussed the latest battlefield developments in Ukraine and the need for NATO countries to expand their defense industrial bases. Additionally, the military leaders discussed the current progress with the Lebanon and Gaza ceasefire agreements. 

    Italy is a key ally and plays important roles in NATO and the European Union. 

    For more Joint Staff news, visit: www.jcs.mil.
    Connect with the Joint Staff on social media: 
    Facebook, Twitter, Instagram, YouTube,
    LinkedIn and Flickr.

    MIL Security OSI –

  • MIL-OSI Australia: ROGS 2025: Government Funding for Private Schools Outpaces Public Schools

    Source: Australian Education Union

    The release of the Productivity Commission Report on Government Services 2025 (ROGS) highlights the growing disparity in government funding between public and private schools.

    “ROGS has shown once again that the gap in funding between public schools and private schools is increasing, with government spending in private schools outpacing government funding for public schools by 22% over the last decade,” said AEU Federal President, Correna Haythorpe.

    The data clearly shows the inequity that exists in school funding between the public and private sectors and reinforces the urgency of the current bilateral agreement negotiations between the Albanese Government and state and territory governments.

    “Resources delayed are resources denied. For too long, public schools have carried the burden of resource shortages, and yet public schools educate the vast majority of students with the greatest need.”

    The Productivity Commission Report On Government Services 2025 shows that private schools have received greater growth in real government investment than public schools over the last decade, in both total and per student funding.

    The report found that:

    • Over the last decade from 2012-13, total per student funding to public schools has increased by 24.5% at an average of 2.45% per year.
    • Private school per student government funding has increased by 30.2% over the last decade at an average of 3.0% per year – 1.22 times the rate of the public school increase.
    • Combined State/Territory and Commonwealth government funding to private schools has grown 22% faster than it has for public schools.

    Ms Haythorpe said that all governments have a fundamental responsibility to address the growing disparity in government funding between public and private schools.

    ROGS highlights the importance of the Albanese Government’s recent commitment to public schools to deliver full and fair funding of 100% of the Schooling Resource Standard (SRS) by 2034.

    “There must be bi-partisan support for full funding of public schools. We call on Leader of the Opposition, Peter Dutton to declare the Coalition’s position and commit to support for all public schools to be fully funded at 100% of the Schooling Resource Standard (SRS) by delivering a minimum 25 per cent from the Commonwealth,” Ms Haythorpe said.

    “We urge all governments to work together in the negotiations for new bilateral agreements with clear timelines that ensure this much needed funding is in public schools as soon as possible.”

    ENDS

    MEDIA CONTACT:

    Kylie Jensen – 0402 298 728

    MIL OSI News –

  • MIL-OSI Submissions: Australia – CBA Financial results 1H25

    Source: Commonwealth Bank of Australia (CBA)

    Key news and analysis of the Commonwealth Bank of Australia’s half year 2025 financial results.

    CommBank CEO Matt Comyn:

    1H25 result

    “During the half, we continued to focus on supporting our customers, investing to protect the community, and providing strength and stability for the broader economy.

    “Every day we lend to more than 200 businesses, help almost 400 households buy a home, process more than 20 million payments, and send customers 18,000 alerts about suspicious account activity.

    We’ve invested more than $450 million to combat fraud and scams, and financial and cyber crime. Our continued investment has reduced customer fraud and scam losses by more than 70 per cent over the past two years.”

    Supporting our customers

    “We know many Australians are continuing to deal with cost-of-living pressures.

    “This half, we maintained our focus on engaging with our customers on a range of support options, and provided more than 65,000 tailored payment arrangements for those most in need of support.

    “We helped more than 3 million customers each month better manage their finances through our digital money management tools.

    “And we’ve kept our promise to keep all of our regional branches open to support communities and jobs in regional Australia.”

    Economic outlook

    “The past four years have been challenging for households.

    “There are some risks around the outlook, however there are reasons for optimism in the Australian economy, with near record low unemployment and real disposable incomes starting to lift.

    “We know many households are looking forward to lower rates.

    “Continued effort is required to get underlying inflation sustainably into the target band.”

    MIL OSI – Submitted News –

  • MIL-OSI USA: Ernst Bill Pursuing $200 Billion in COVID Fraud Advances

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – The Senate Committee on Small Business and Entrepreneurship passed Chair Joni Ernst’s (R-Iowa) Complete COVID Collections Act to extend the life of the watchdog tasked with tracking down criminals who stole COVID relief designed for small businesses.
    Ernst led several of her Republican colleagues in introducing the bill after the Special Inspector General for Pandemic Recovery (SIGPR) warned its authority was expiring and con artists would get away with stealing more than $200 billion.
    “I will not allow fraudsters to get away with stealing hundreds of billions of dollars from taxpayers,” said Ernst. “We are going to recoup every cent and end the cycle in Washington of shrugging off a few billion here and a few hundred million there. That irresponsible mindset is why the federal government is more than $36 trillion in debt. I’m proud to lead this step forward to treat tax dollars like a family treats its budget instead of like a bottomless slush fund.”
    The bill is cosponsored by Senators Todd Young (R-Ind.), Marsha Blackburn (R-Tenn.), James Lankford (R-Okla.), Josh Hawley (R-Mo.), Eric Schmitt (R-Mo.), and John Curtis (R-Utah).
    “Programs designed to provide relief to our small businesses were repeatedly taken advantage of, leaving small businesses hurting and taxpayers on the hook,” said Young. “I’m glad to see this effort to recover taxpayer dollars and protect Americans from fraud and abuse pass out of committee. I look forward to voting for this bill on the Senate floor.”
    “During the pandemic, small business owners in need of financial assistance were turned away because criminals, gang members, and drug traffickers stole money from the relief program,” said Blackburn. “This legislation would help ensure we recoup every penny of funding that was wrongly awarded to criminals who gamed the system.”
    “Family-owned businesses in Utah played the rules and used COVID-19 relief funds as intended, but bad actors exploited the system and defrauded taxpayers,” said Curtis. “By extending oversight authority over these programs, our legislation strengthens enforcement efforts and holds criminals accountable for stealing from the American people. I’m proud to see our bill pass out of the Small Business Committee.”

    Click here to view the bill text.
    Background:
    While SBA ran the relief programs on a “first come, first serve” basis, the money ran out quickly, and many qualifying businesses were turned away as felons, gang members, and drug traffickers raked in cash. Some swindlers uploaded pictures of Barbie dolls as photo identification on SBA loan applications that were approved.One alleged fraudster took home $8 million while nearly 2,000 struggling restaurants in Iowa were left empty-handed. Ernst detailed this in her report titled Small Business COVID-19 Fraud: Three Years Later State of Play – where she outlined the Biden SBA’s effort to discount the full extent of fraud and cast doubt on the legitimate estimates made by expert investigators.Ernst’s tireless advocacy forced the Biden administration to eventually take action to recover billions in COVID aid in January 2024.

    MIL OSI USA News –

  • MIL-OSI USA: Sullivan, Shaheen Reintroduce Bipartisan Bill to Counter Censorship in China and Promote Free Expression for Chinese Citizens

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    02.11.25

    WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska) and Jeanne Shaheen (D-N.H.), ranking member of the Senate Foreign Relations Committee, reintroduced the Informing a Nation with Free, Open, and Reliable Media (INFORM) Act to improve access to independent information and advance freedom of expression for citizens in the People’s Republic of China (PRC).

    This legislation strengthens efforts at the U.S. Department of State and U.S. Agency for Global Media to develop technology to bypass PRC internet censorship, provide secure content-sharing tools for citizens, and support independent Mandarin language content and journalism. It also empowers citizen journalism and independent media outlets to produce and report on news throughout China.

    “One of Xi Jinping’s greatest weaknesses is that he is afraid of his own people,” said Senator Sullivan. “This legislation lays out a way to exploit this weakness and make the most of America’s greatest strategic advantage—our commitment to liberty. The CCP’s vast censorship apparatus—the ‘great firewall’—works to silence free expression and deny their citizens truthful information about the corruption of CCP leaders. Our INFORM Act gets around this firewall and allows the Chinese people to access information about their own government and connect with others across the globe who also yearn for freedom. I look forward to working with Congress and with the Trump administration to make this bill a reality.”

    “Chinese citizens are subjected to extreme government censorship and as economic and social conditions deteriorate inside the People’s Republic of China, they’re seeking independent news sources and, increasingly, more freedom from the excessive control of the Chinese Communist Party (CCP),” said Ranking Member Shaheen. “As we work to counter the CCP propaganda and censorship efforts across the globe, it’s critical we also empower the Chinese people to access independent, unbiased information about their own country and the rest of world. Our bipartisan INFORM Act will help to accomplish exactly that.” 

    Key provisions of the INFORM Act include:

    1. Requiring the State Department and interagency to develop a comprehensive strategy for expanding information and engagement with Chinese citizens in the information space
    2. Improving the level of coordination among federal agencies to develop and disseminate timely and compelling Mandarin Chinese-language content that is otherwise blocked by the PRC government’s highly censored and restrictive internet ecosystem
    3. Increasing funding for media freedom programming, investigative journalism, and Mandarin Chinese-language content development initiatives, including by establishing and expanding a network of independent journalists or media companies that investigate and produce articles, reports, and other content related to real-time social, political, and economic events in the PRC
    4. Providing resources to the U.S. Department of State and the U.S. Agency for Global Media to further develop and innovate circumvention and secure content sharing tools for Chinese citizens to bypass the PRC’s stringent censorship regime and ensure that those tools are more effectively paired with access to independent and reliable information
    5. Strengthening diplomatic efforts to counter the lack of reciprocity with the PRC in the online information and public diplomacy space

    Full text of the legislation can be found here.

     

    MIL OSI USA News –

  • MIL-OSI USA: Lee Introduces Bill to Cut American Tax Dollars from Funding NPR and PBS

    US Senate News:

    Source: United States Senator for Utah Mike Lee

    WASHINGTON – Senator Mike Lee (R-UT) has introduced the Defund Government Sponsored Propaganda Act, which would end federal taxpayer funding of the Public Broadcasting Service and National Public Radio in light of longstanding concerns about their fairness and bias. The legislation has been introduced in the House of Representatives by Rep. Claudia Tenney (R-NY).

    “Americans have hundreds of sources of news and commentary, and they don’t need politically biased, taxpayer-funded media choosing what they should see and hear,” said Sen. Lee. “PBS and NPR are free to compete in the marketplace of ideas using donations, but their public subsidy should end.” 

    “As a former newspaper owner and publisher, I understand the vital role of balanced, non-partisan media,” said Rep. Tenney. “Unfortunately, these taxpayer-funded outlets have chosen advocacy over accuracy, using public dollars to promote a political agenda rather than report the facts. Under the influence of radical left-wing ideologues like Katherine Maher, PBS, and NPR no longer uphold the American principles of free thought and open discourse. Taxpayer dollars should not fund political propaganda disguised as journalism. The Defund Government Sponsored Propaganda Act ensures that federal funding is no longer used to perpetuate the blatant media bias that has overtaken these platforms.”

    You can read the bill text by clicking HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Lee Reintroduces Impoundment Control Act Repeal

    US Senate News:

    Source: United States Senator for Utah Mike Lee

    Supports President Trump’s Efforts to Tackle Excessive and Wasteful Spending 

    WASHINGTON – Senator Mike Lee (R-UT) has again introduced legislation to repeal the Impoundment Control Act (ICA) of 1974, a law that undermines the constitutional authority of the President to exercise fiscal restraint by declining to spend appropriated funds. Congressman Andrew Clyde (GA-09) has introduced a companion bill in the House. 

    “The Impoundment Control Act is a Watergate-era relic of misguided overreach,” said Senator Lee. “For nearly two centuries, presidents exercised the authority to impound funds as a critical check on runaway spending. The ICA’s unconstitutional limitations on this power have contributed to a fiscal crisis. Repealing this law will restore the balance of power envisioned by our Constitution and empower the President to reject wasteful, unnecessary spending by administrations that voters resoundingly rejected.“

     “Rolling back the unconstitutional Impoundment Control Act is one of the most effective ways Congress can help President Trump in the fight to deliver the spending cuts and government efficiency that the American people overwhelmingly voted for,” said Representative Clyde. “The Impoundment Control Act of 1974 has unjustly complicated the President’s constitutional impoundment authority for far too long. Every President from George Washington to Richard Nixon possessed this tool to cut wasteful spending until the ICA purported to divest the President of this critical power. In the fifty years since, America’s national debt and Washington’s spending habits have soared out of control. We must defend the presidential power of impoundment to get America’s fiscal house back in order.”

    Background

     

    • Impoundment is the President’s constitutional authority under Article II of the Constitution to refuse to spend funds appropriated by Congress. This power was used by presidents from George Washington to Richard Nixon to cut wasteful spending, address emergencies, and protect taxpayer dollars.
    • The Impoundment Control Act of 1974 was passed in the aftermath of the Watergate scandal and significantly constrained the President’s ability to impound funds, marking a fundamental shift in the separation of powers.   
    • Over the past five decades, federal spending has skyrocketed, contributing to a $36 trillion national debt, soaring interest payments, and persistently high inflation.

    For bill text, click HERE 

    For the one-pager, click HERE

    MIL OSI USA News –

  • MIL-OSI USA: Boozman, Cramer Introduce Bill to Protect Legal Industries from Debanking

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON––U.S. Senator John Boozman (R-AR) joined Senator Kevin Cramer (R-ND) to introduce the Fair Access to Banking Act to protect access to financial services and ensure banks operate in a safe, sound manner. The legislation requires that lending and financial services decisions be based on impartial, risk-based analysis – not political or reputational favoritism.

    “Financial services are vital to the success of all businesses and should be based on sound data and risk management –– not as a means to target certain industries or political issues,” said Boozman. I am proud to support legislation that curtails unfair efforts to block lawful businesses’ access to banking due to political beliefs or affiliations and instead restores reliance on proper analytical criteria. 

    “When progressives failed at banning these entire industries, what they did instead is they turned to weaponizing banks as sort of a backdoor to carry out their activist goals,” said Cramer. “Financial institutions are backed by taxpayers, for crying out loud! They should be obligated to provide services in an unbiased, risk-based manner. The Fair Access to Banking Act ensures that banks provide fair access to services and enacts strict penalties for categorically discriminating against legal industries and individuals.”

    Specifically, this legislation penalizes banks and credit unions with over $10 billion in total consolidated assets, or their subsidiaries, if they refuse to do business with any legally compliant, credit-worthy person. It also prevents payment card networks from discriminating against any qualified person because of political or reputational considerations. The bill requires qualified banks to provide written justification for why they are denying a person financial services. Further, the Fair Access to Banking Act would penalize providers who fail to comply with the law by disqualifying institutions from using discount window lending programs, terminating status as an insured depository institution or credit union, or imposing a civil penalty of up to $10,000 per violation. 

    The bill is based on President Trump’s Fair Access Rule, which was introduced during his first administration and required financial institutions to make individual risk assessments rather than broad decisions regarding entire industries or categories of customers. The Biden administration paused the rule’s implementation in early 2021.

    The Fair Access to Banking Act is endorsed by the National Shooting Sports Foundation, National Rifle Association, National Cattlemen’s Beef Association, The Digital Chamber, Blockchain Association, Independent Petroleum Association of America, Online Lenders Alliance, Day 1 Alliance, GEO Group, National Association of Wholesaler-Distributors and the National Mining Association.

    The bill is cosponsored by U.S. Senators Jim Banks (R-IN), John Barrasso (R-WY), Marsha Blackburn (R-TN), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), Bill Cassidy, M.D. (R-LA), John Cornyn (R-TX), Tom Cotton (R-AR), Mike Crapo (R-ID), Ted Cruz (R-TX), John Curtis (R-UT), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), Bill Hagerty (R-TN), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Ron Johnson (R-WI), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford (R-OK), Cynthia Lummis (R-WY), Roger Marshall, M.D. (R-KS), Dave McCormick (R-PA), Jerry Moran (R-KS), Bernie Moreno (R-OH), Markwayne Mullin (R-OK), Pete Ricketts (R-NE), Jim Risch (R-ID), Eric Schmitt (R-MO), Rick Scott (R-FL), Tim Scott (R-SC), Tim Sheehy (R-MT), Dan Sullivan (R-AK), Thom Tillis (R-NC), Tommy Tuberville (R-AL) and Roger Wicker (R-MS).

    Click here for full text of the legislation.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Benefit levels fail to keep families out of poverty

    Source: Green Party

    The Salvation Army’s State of the Nation report is a bleak indictment on the failure of Government to take steps to end poverty, with those on benefits, including their children, hit hardest.

    “Poverty is a political choice this Government is choosing for our communities, intentionally exacerbating inequality and pushing thousands of families into hardship,” says the Green Party Spokesperson for Social Development, Ricardo Menéndez March.

    “In this country, we have the means and resources to ensure all whānau have the basics for a good life and don’t fall through the gaps.

    “Unfortunately half of all children living in material hardship are in benefit households, the very families that this Government is forcing into deeper poverty with policies that sanction and punish beneficiaries.

    “The Salvation Army’s report also highlights the need to transform Work and Income’s culture to one where people are treated with trust and respect. 

    “People should not be declined hardship assistance when they are in need of help, and yet more people have been declined for this very critical support at a time when material hardship for children is increasing.

    “This report also reinforces what people on the ground have been telling us for years: Māori and Pasifika people have been hardest hit by benefit sanctions, lack of access to adequate support, and ongoing discrimination by the very same agencies meant to support them.

    “Poverty is not something we have to accept, we can choose to end it. The Green Party campaigned on ending poverty with our Income Guarantee that would ensure everyone has enough food to put on the table, no matter how tough times get,” says Ricardo Menéndez March.  

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Removing barriers to inclusion for people with disability

    Source: Australian Ministers for Social Services

    The Albanese Labor Government is delivering on its commitment to safe and inclusive communities for people with disability as part of its initial response to the Disability Royal Commission.

    Today, the first grant round of the Inclusion and Accessibility Fund will open for applications under an $18 million commitment over the next four years.

    The fund aims to boost community understanding so people can take action to improve inclusion and participation for people with disability in society.

    The first round of grant opportunities will be awarded to experienced Disability Representative Organisations and Disabled People’s Organisations for high quality projects between $50,000 and $300,000 that focus on reducing harm and improving inclusion for people with disability.

    This will help professionals, like doctors, to improve the way they communicate and better include people with disability in the things that are important to them.

    It will also support mainstream services and community spaces to take actions to become more inclusive and responsive to the needs of people with disability so they can participate in their communities.

    Minister for Social Services Amanda Rishworth said the Fund has been designed to improve everyday interactions with people with disability.

    “We know that people with disability can face barriers because other people don’t understand what it means to live with disability, and that discriminatory beliefs and stigma against people with disability are a key source of harm and barrier to participation in employment, education and community life,” Minister Rishworth said.

    “That’s why increasing understanding of disability and changing community attitudes is so important. If people have a better understanding about the barriers people with disability face, they can take the steps to remove these barriers increase the safety and inclusion of the more than 5.5 million Australians with disability.

    “Addressing community attitudes and changing mindsets is a priority area under Australia’s Disability Strategy 2021-2031, and a key step towards increasing genuine inclusion in all aspects of life.”

    Grant round applications open today and close on 6 March 2025.

    Interested organisations can find more information on the Grant Connect website at www.grants.gov.au.

    MIL OSI News –

  • MIL-OSI USA: ICE arrests TdA gang member suspected in Chicago mass shooting

    Source: US Immigration and Customs Enforcement

    RALEIGH, N.C. — U.S. Immigration and Customs Enforcement arrested Ricardo Padillia-Granadillo, 24, an illegally present Venezuelan national, Feb. 8 in Raleigh.

    Granadillo, a suspected member of the Tren de Aragua gang and a suspect in a mass shooting in Chicago, was wanted on federal charges for illegal entry into the United States and had a warrant for his arrest.

    Granadillo illegally entered the U.S. near El Paso, Texas, Oct. 1, 2022, and was encountered by the U.S. Border Patrol, paroled into the country and given a notice to appear. He failed to show up for his immigration appointment scheduled for Sept. 12, 2024, and the U.S. Attorney for the Western District of Texas issued an arrest warrant.

    Law enforcement officers with ICE, Border Patrol, Customs and Border Protection’s Air and Marine Operations and the U.S. Marshals Service arrested Granadillo the evening of Feb. 8 at a residence in Raleigh without incident. Officers found a handgun, ammunition and 10 other Venezuelan aliens in the house while conducting the arrest operation.

    Members of the public can report crimes and suspicious activity by dialing 866-DHS-2-ICE (866-347-2423) or completing the online tip form.

    Learn more about ICE’s mission to increase public safety on X at @ICEgov.

    MIL OSI USA News –

  • MIL-OSI USA: LIFT Program Opens Applications for $1.75 Million in Business Loan Funding

    Source: US State of North Dakota

    The North Dakota Department of Commerce announces the reopening of the Legacy Investment for Technology (LIFT) application process.  This funding opportunity drives economic growth in our state by fueling innovative North Dakota businesses. 

    “The LIFT funds equip North Dakota businesses commercializing intellectual property with debt financing at advantageous interest rates,” Commerce Economic Development & Finance Deputy Director Shayden Akason said. “We’re excited to open the fund to new innovative projects.”

    Eligible industries include advanced computing and data management, agricultural technology, autonomous and uncrewed vehicles, energy, healthcare, value-added agriculture, value-added energy, and any area identified by the LIFT Committee as contributing to the state’s economic diversification.

    Applications for the LIFT program will be accepted through March 14, 2025. A total of $1.75 million in loan funding will be available for successful applicants.

    For more information, application guidelines and program details, visit https://belegendary.link/LIFT. 

    MIL OSI USA News –

  • MIL-OSI Security: Perrytown Coach Sentenced to 30 Years in Prison for Sexual Abuse of Teenage Student

    Source: Office of United States Attorneys

    A Perrytown ISD coach who sexually abused a 15-year-old student was sentenced today to 30 years in federal prison, announced Acting U.S. Attorney for the Northern District of Texas Chad Meacham.

    Cole Underwood, 29, was charged via criminal complaint in June 2024 and indicted later that same month. In September 2024, he pleaded guilty to enticement of a minor. He was sentenced Tuesday by U.S. District Judge Matthew J. Kacsmaryk to 30 years in federal prison followed by a lifetime of supervised release. He will also be required to register as a sex offender. 

    According to court documents, Perryton ISD’s superintendent reached out to law enforcement in May 2024 to report a possible inappropriate relationship between Mr. Underwood and a female student. According to the superintendent, surveillance video allegedly showed Mr. Underwood meeting with the girl alone after hours, despite being given a specific directive not to be alone with her.

    Agents reviewed the footage and observed Mr. Underwood propping an exterior door open and then shutting off lights. Approximately 15 minutes later, the girl entered the darkened building through the propped door and walked into Mr. Underwood’s office.

    In interviews with law enforcement, the child said Mr. Underwood had sex with her in his office more than a dozen times between February and May.

    She said that after she added him as a contact on Snapchat, he established a personal friendship with her, and even invited her to his office to confide in him. She said that Mr. Underwood began messaging her in a flirtatious and sexual manner in December, and eventually used Snapchat to arrange sexual encounters.

    A search of the girl’s cell phone revealed multiple late-night conversations – some lasting more than six hours – between her and Mr. Underwood, who allegedly occasionally referred to the child as “wifey” and told her he loved her.

    At Thursday’s sentencing hearing, the student detailed how the situation escalated from the defendant acting as a confidant during a stressful period to isolating her and continually pressuring her for sex:

    “I had no idea that he was slowly in the process of grooming me, I genuinely thought that he actually cared about me,” she said in a victim impact statement. “I didn’t know how to stop it… He convinced me to shut everyone out. I felt like I seriously had no one but him.”

    “I hope if there is a girl out there who is going through what I have been through, she has the chance to hear my story to know it’s okay to speak up. There are people who want to help,” she bravely added. “Just because you have one bad chapter does not mean your story is over.”

    The Federal Bureau of Investigation’s Dallas Field Office – Amarillo Resident Agency, the Ochiltree County Sheriff’s Office, and the Perrytown Police Department conducted the investigation with the full cooperation of the Perryton Independent School District. Assistant U.S. Attorney Callie Woolam is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: South Carolina Drug Trafficker Helping Move Kilograms of Cocaine Sentenced to More than Six Years

    Source: Office of United States Attorneys

    RALEIGH, N.C. – A South Carolina man who was part of a large drug trafficking organization (DTO) moving kilogram quantities of cocaine in the United States was sentenced to 78 months in prison. On October 31, 2024, Gerardo Calzada, age 34, pled guilty to possession with intent to distribute 500 grams or more of cocaine and aiding and abetting.

    According to court documents and other information presented in court, in 2020, officers with the Apex Police Department began an investigation into an individual trafficking drugs in the area.  As the investigation progressed, other agencies, including the Drug Enforcement Authority (DEA) became involved. Calzada was identified, along with others, as an individual who was provided drugs to distribute on behalf of the DTO. During a surveillance operation on July 26, 2023, Calzada was observed driving another DTO member to a meeting behind a local Food Lion, where the other DTO member was handed a paper bag. After Calzado and his passenger departed the parking lot, they were stopped by Johnston County Sheriff’s deputies. A consensual search of the vehicle resulted in the seizure of two kilograms of cocaine found inside two cereal boxes, a digital scale, a drug ledger, and money transmittal receipts to Guerrero, Mexico, and to Cortes, Honduras. During an interview with agents, Calzado admitted to travelling from South Carolina to purchase cocaine and also indicated that he had met with couriers on at least ten occasions.

    This prosecution was part of an Organized Crime Drug Enforcement Task Force (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    Daniel P. Bubar, Acting U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by U.S. District Judge James C. Dever III. The DEA, the Apex Police Department and the Johnston County Sheriff’s Office investigated the case and Assistant U.S. Attorney Kelly Sandling  prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 5:23-cr-00133-D-RJ.

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    MIL Security OSI –

  • MIL-OSI Security: Mexican National Who Participated in Timeshare Fraud Scheme is Sentenced

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that SHADIA MELISSA AGUILAR SARMIENTO, 30, of Mexico, was sentenced today by U.S. District Judge Kari A. Dooley in Bridgeport to approximately 13 months of imprisonment, time already served, for conspiring with others to defraud owners of timeshare properties.

    According to court documents and statements made in court, Aguilar Sarmiento and others participated in an advance fee scheme that targeted owners of timeshare properties at various Mexican resorts, including timeshare owners in the U.S. and Canada.  The conspiracy operated as a business in Mexico that used several different company names in its communications with timeshare owners, including Club World Travel, Luxury Destinations, DeRemate, and Smart Travel.

    As part of the scheme, members of the conspiracy contacted timeshare owners, claimed to be representatives of companies that were interested in purchasing timeshares, and offered to purchase the timeshares from the owners.  To create the impression that the purchase offers were legitimate, the conspirators referred the timeshare owners to people they indicated were attorneys, who the conspirators indicated would represent the timeshare owners in the transaction.  These purported attorneys were real licensed attorneys, including attorneys who practiced in Connecticut, whose names and identities were used without their knowledge or permission.  The conspirators, while impersonating the attorneys, emailed purchase agreements on attorney letterhead to the timeshare owners.  The purchase agreements listed the purchase price that the buyers were paying the timeshare owners, stated that the buyer would pay any associated fees, and indicated that any additional fees the timeshare owner needed to pay to sell and transfer the timeshare would be added to the purchase price, so that the owner would recoup those additional fees.

    Many timeshare owners signed the purchase agreements believing that the purchase offers were legitimate. After a timeshare owner signed a purchase agreement, a member of the conspiracy would contact the timeshare owner falsely claiming to be a representative of a Mexican government agency or another authority requesting payment of fees, taxes, or other costs before the sale could be completed.  Many timeshare owners paid these fees and taxes through international wire transfers to bank accounts in Mexico that were controlled by members of the conspiracy.  Once the additional money was paid, the conspirators would often inform the timeshare owner of another fee that needed to be paid.  Many timeshare owners then paid those additional fees, and the process repeated until the timeshare owner stopped paying the fees.

    Timeshare owners never received any sales proceeds.

    From approximately December 2018 until January 2021, when Aguilar Sarmiento was involved in the scheme, more than 50 timeshare owners were victimized and lost a total of approximately $2 million.

    As part of her sentence, Aguilar Sarmiento was ordered to pay restitution of $2,065,852.85 to the victim timeshare owners.

    Aguilar Sarmiento has been detained since January 12, 2024, when she was arrested in San Diego, California, after entering the U.S. on a visitor visa.  On November 19, 2024, she pleaded guilty to one count of conspiracy to commit wire fraud.

    This matter is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation Division.  The case was prosecuted by Assistant U.S. Attorney Neeraj N. Patel.

    MIL Security OSI –

  • MIL-OSI Security: U.S. Attorney’s Office Announces Sentencing for Violent Confrontation That Turned Nearly Fatal

    Source: Office of United States Attorneys

    ALBUQUERQUE – An Albuquerque man has been sentenced to 102 months in prison for shooting a victim multiple times and leaving him seriously injured.

    There is no parole in the federal system.

    According to court documents, Robert Abeyta, 51, an enrolled member of the Pueblo of Ohkay Owingeh, went to John Doe’s residence located on the Ohkay Owingeh Pueblo armed with a loaded pistol and confronted Doe. When Doe, who has law enforcement experience, attempted to disarm Abeyta, a struggle ensued during which Abeyta shot Doe multiple times in the head, neck, and shoulder.

    Witnesses reported that Abeyta continued to assault Doe after the shooting. Neighbors intervened, disarming Abeyta and restraining him until law enforcement arrived. Doe’s girlfriend and young child were inside the home during the shooting and witnessed its immediate aftermath.

    Upon his release from prison, Abeyta will be subject to three years of supervised release.

    U.S. Attorney Alexander M.M. Uballez made the announcement today.

    The Bureau of Indian Affairs investigated this case with assistance from the Ohkay Owingeh Police Department and Santa Clara Police Department. Assistant U.S. Attorney Meg Tomlinson is prosecuting the case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Recidivist Violent Gang Member Charged with Alleged Armed Robbery

    Source: Office of United States Attorneys

    Defendant allegedly robbed drug customer of approximately $24,000 in drug proceeds at gunpoint during home invasion

    BOSTON – A Lynn man appeared in federal court yesterday in connection with charges involving a January 2023 armed robbery of a drug distributor, during which the defendant and another individual allegedly stole approximately $24,000 in drug trafficking proceeds intended for the purchase of a kilogram of cocaine.

    Claudio Melo, a/k/a “Blue Drilla,” 33, was charged with one count of conspiracy to interfere with commerce by robbery (Hobbs Act Robbery). Melo is currently being held on unrelated state charges.

    It is alleged that Melo is a Crip Street gang member and, according to court documents, is a convicted felon, having served various state prison sentences including assault with a dangerous weapon, assault and battery, armed robbery, larceny and malicious destruction of property.

    According to the charging documents, on Jan. 30, 2023, a drug transaction was scheduled to take place at an apartment in Woburn, during which an associate of Melo was to deliver a kilogram of cocaine in exchange for approximately $24,000. It is alleged that, during the transaction, Melo and another individual entered the apartment and pointed semiautomatic pistols at the drug customer before taking the $24,000 in cash. According to the charging documents, the $24,000 cash was proceeds of drug trafficking activities the drug customer was engaged in, which had been paced in an unmarked soft black lunch box on a table. Melo and the other individual then allegedly forced the drug customer to open a safe in his bedroom, which was empty. Shortly thereafter, both robbers departed with the $24,000 cash.

    The charge of conspiracy to interfere with commerce by robbery provides for a maximum penalty of up to 20 years, up to three years of supervised release and a fine of up to $250,000. Sentences are imposed by a federal district court judge based on the United States Sentencing Guidelines and other statutory factors.

    United States Attorney Leah B. Foley and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Valuable assistance was provided by the Essex County District Attorney’s Office and the Lynn Police Department. Assistant U.S. Attorney Philip A. Mallard of the Organized Crime & Gang Unit is prosecuting the case.

    The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
     

    MIL Security OSI –

  • MIL-OSI Security: Violent Armed Robber Who Stalked, Kidnapped, and Robbed Victims in Virginia and Maryland Is Sentenced to 228 Months in Prison

    Source: Office of United States Attorneys

               WASHINGTON – Tyree Eugene McCombs, 29, of Washington D.C., was sentenced today in U.S. District Court to 228 months in federal prison for his role in the September 2022 stalking, armed robbery, and kidnapping of a pair of victims in Alexandria, Virginia, and for the November 2022 stalking, kidnapping, robbery, and shooting of a woman in Maryland and Washington, D.C. 

               The sentence was announced by U.S. Attorney Edward R. Martin, Jr., and FBI Special Agent in Charge Sean Ryan of the Washington Field Office Criminal and Cyber Division. 

              McCombs pleaded guilty on August 14, 2024, before U.S. District Court Judge Amy Berman Jackson, to one count of conspiracy to interfere with interstate commerce by robbery (a “Hobbs Act” robbery) for the September 2022 offense, and to one count of kidnapping for the November 2022 offense. In addition to the 228-month prison-term, Judge Berman Jackson ordered McCombs to serve five years of supervised release. 

               According to court documents, in September and November 2022, McCombs and his co-conspirators twice executed plans to surveil, stalk, forcibly detain, bind, assault, and rob women at gunpoint. McCombs was a leader in both schemes, personally stalking the victims, holding them at gunpoint, physically assaulting them, and demanding that they pay their own ransoms. In each case, the kidnapping was abruptly cut short either by the sound of an alarm (September) or the victim’s daring escape (November).

               During the first incident, on the evening on September 3, 2022, the two victims entered their car – a black Mercedes S63 AMG Sedan – and drove from Alexandria, Virginia to a family gathering in Maryland. Unbeknownst to the victims, they were being electronically surveilled. A GPS tracking device purchased by McCombs had been placed inside the Mercedes. That night, McCombs and three co-conspirators laid in wait for nearly four hours for the victims to return home to their apartment building in Alexandria. As the couple returned to their building, McCombs and his co-conspirators, wearing masks and blue surgical gloves and carrying zip ties, ambushed them with handguns and robbed them of their most valuable belongings.

               McCombs and his crew stole two Audemars Piguet watches worth about $120,000 from the couple and another $63,500 worth of jewelry, including a Cuban link chain and a custom pendant with the letters “GQ” overlaid on a speedometer. McCombs and his co-conspirators took the keys to the victim’s Mercedes then forced the victims at gunpoint from the parking garage to the victims’ apartment.

               Once inside of the apartment, McCombs and his co-conspirators pistol-whipped the victims and ordered them to tell them where their money was hidden. The co-conspirators ransacked the residence but were unable to find any cash. During the crime, a security alarm activated, and the co-conspirators tore the alarm from the wall and fled the apartment. McCombs and his co-conspirators then fled the apartment complex in a stolen white Kia as well as the victim’s Mercedes, which still had the GPS tracking device inside. The co-conspirators drove the Mercedes into Washington, D.C. then abandoned the vehicle in Maryland, where it was found by law enforcement. About a month later, on October 10, 2022, McCombs sold the custom pendant, worth tens of thousands of dollars, to a pawn shop in Maryland for $200.

               On the night of November 7, 2022, McCombs led another kidnapping and robbery, this time targeting and abducting a 25-year-old woman in Maryland. At the time of this crime, McCombs was on supervised release for a 2019 attempted armed robbery conviction and, two weeks earlier, had been ordered to wear a GPS monitor. McCombs’s GPS data showed that he stalked the woman for hours through the evening of November 7, following her from work to a family member’s home to a bank. Eventually, the victim traveled by car to an apartment building in Elkridge, Maryland. McCombs and a co-conspirator, traveling in a carjacked Toyota Camry, followed her to the Elkridge apartment.

               As the victim exited her vehicle and began to enter the building, McCombs and his co-conspirator grabbed her and forced her into the back seat of the Camry at gunpoint. The kidnappers pistol-whipped the victim, robbed her, and bound her hands behind her back using a black plastic zip tie. McCombs and his co-conspirator then held the woman captive in the vehicle for nearly three hours, driving to various locations in Maryland and Washington, D.C. Surveillance video footage from a gas station in Forestville, Maryland, captured McCombs and his co-conspirator exiting the Camry with the victim still held inside. As McCombs walked into the gas station to purchase gas, the co-conspirator entered the back seat of the vehicle and sexually assaulted the victim. After leaving the gas station, the kidnappers, who had already taken a significant amount of cash and property from the victim, repeatedly demanded to know “who she could call to save her life, that could get more money,” while threatening to kill her.

            The victim, believing she was going to be killed, used her foot to open a rear door of the vehicle, pushed open the door, and, after struggling with McCombs, jumped out of the moving vehicle. As she sprinted down the street, McCombs and the co-conspirator fired at least five gunshots at her, striking her twice in the foot. Within minutes of the shooting, law enforcement identified McCombs based on his GPS data. They located and arrested McCombs, who was still wearing the GPS monitor, several hours later.

               This case was investigated by FBI Washington Field Office’s Violent Crimes Task Force. The Fairfax County Police Department, Howard County Police Department, and Metropolitan Police Department assisted with the investigation. The matter was prosecuted by Assistant U.S. Attorneys Meredith Mayer-Dempsey and Charles R. Jones.

    McCombs (center) and his co-conspirators carry the Alexandria victims’ shoes and handbag in the hallway of the apartment building.

    Crime scene photograph taken inside the Alexandria apartment where McCombs’s first victims resided.

    Still images of McCombs and his co-conspirator abducting a woman at gunpoint in Maryland on November 7, 2022.

    McCombs (right) and a co-conspirator talk at the gas station in Forestville, MD, as the victim remains captive in the back seat of a carjacked Toyota Camry.

    22cr377

    MIL Security OSI –

  • MIL-OSI Security: Former Nonprofit Finance Director Sentenced for Theft of Government Funds

    Source: Office of United States Attorneys

    COLUMBIA, S.C. — Ashley Clark Ingram, 35, of Columbia, was sentenced to two years in federal prison after pleading guilty to theft of government funds for misappropriating funds from Habitat for Humanity of Central South Carolina.

    Evidence presented to the court showed that while employed as the director of finance and operations for Habitat for Humanity, Ingram applied for an employee retention tax credit for retaining employees during the COVID-19 pandemic from the IRS on behalf of Habitat for Humanity, but without the knowledge of the nonprofit. Ingram then received checks totaling $388,550.75 from the United States Treasury and deposited the funds into a Habitat for Humanity account that she controlled then transferred the money from the Habitat for Humanity account into her own bank accounts. In total, Ingram misappropriated approximately $514,672.37 from Habitat for Humanity and the United States Government.

    United States District Judge Mary Geiger Lewis sentenced Ingram to 24 months imprisonment, to be followed by a two-year term of court-ordered supervision. Ms. Ingram was ordered to pay a remaining balance of $30,165.47 in restitution to Habitat, which she rendered today. Ms. Ingram was also ordered to pay a $10,000 fine and a $100 special assessment fee.

    This case was investigated by the FBI Columbia Field Office. Assistant U.S. Attorney Scott Matthews is prosecuting the case.

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    MIL Security OSI –

  • MIL-OSI Security: Owner of Vancouver, Washington tax preparation business that catered to immigrants sentenced to nine months in prison for tax fraud

    Source: Office of United States Attorneys

    Tacoma –The owner of a Vancouver, Washington, business that sought to assist immigrants with a variety of services was sentenced late yesterday in U.S. District Court in Tacoma to 9 months in prison and 4 months of electronic home confinement for tax fraud charges, announced U.S. Attorney Tessa M. Gorman. Saul Valdez was an unlicensed tax preparer who led his immigrant customers to believe he was filling out their tax forms correctly. Instead, from 2016 through 2018, Valdez inserted a variety of false deductions and expenses on tax returns, lowering the customers’ tax obligations. At sentencing, U.S. District Judge Benjamin H. Settle said, ““This is a serious offense…. deterrence drives this case. This sentence should be one that deters you and sends a message to you and others like you that there will be a real penalty, not probation, for this conduct.”

    “This defendant built his business by obtaining inflated tax refunds for clients who had little understanding of the U.S. tax system,” said U.S. Attorney Gorman. “Ultimately some of these clients were hit with back tax payments, fees, and penalties because this defendant intentionally filed false tax returns on their behalf.”  

    “Mr. Valdez abused credits designed to help low-income taxpayers, and his clients incurred over $23,000 in penalties along the way,” said Adam Jobes, Special Agent in Charge of IRS Criminal Investigation’s Seattle Field Office. “We encourage those seeking a tax preparer this season to be vigilant and report dishonest business practices.”

    According to records in the case, Valdez operated Conexion Latina and used programs such as TaxAct and TurboTax to prepare clients’ taxes. For tax year 2017, Valdez admits claiming false and fraudulent expenses, donations, and credits on 36 different tax returns. The tax loss on those 36 returns is $54,045.  That is the amount of restitution Valdez has agreed to pay.

    Using statistical sampling of 50 of some 2000 returns prepared by Valdez from 2016 through 2018, Valdez admits that the total tax loss for his fraud is $1,293,921.

    The case was investigated by Internal Revenue Service Criminal Investigations (IRS-CI).

    The case is being prosecuted by Assistant United States Attorney Kristine Foerster.

    MIL Security OSI –

  • MIL-OSI Security: Raleigh-area Drug Trafficker Who Tried to Flush Drugs Sentenced to Over 11 Years in Prison

    Source: Office of United States Attorneys

    RALEIGH, N.C. – A Fuquay Varina man who was part of a large drug trafficking organization (DTO) operating in and around Raleigh was sentenced to 138 months in prison for drug trafficking after attempting to flush cocaine down his toilet.  On November 19, 2024, David Weaver, age 46, pled guilty to one count of conspiracy to distribute and possess with intent to distribute a quantity of cocaine and one count of possession with intent to distribute a quantity of cocaine.

    According to court documents and other information presented in court, in 2022, agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Raleigh Police Department (RPD) initiated an investigation into a DTO which distributed firearms, marijuana, and kilogram quantities of fentanyl, cocaine, and crack cocaine. Weaver was identified, along with others, as an individual who was provided drugs to distribute on behalf of the DTO.  On May 23, 2023, a search warrant was executed at Weaver’s Raleigh residence. Weaver was encountered as he exited the bathroom after a failed attempt to flush cocaine down the toilet.  During the search, the following items were seized: a loaded 9mm pistol; 102 rounds of 9mm ammunition; cocaine; crack cocaine; marijuana; and more than $11,000 in cash.

    This prosecution was part of an Organized Crime Drug Enforcement Task Force (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    Daniel P. Bubar, Acting U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by U.S. District Judge James C. Dever III. ATF and RPD investigated the case and Assistant U.S. Attorney Kelly Sandling prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 5:23-cr-00134-D-BM-18.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Boston Woman Sentenced to Three Tears in Prison for Armed Robberies of Postal Workers

    Source: Office of United States Attorneys

    BOSTON – A Boston woman was sentenced yesterday in federal court in Boston for the armed robberies of United States Postal Service (USPS) letter carriers on Nov. 29, 2022 in Mattapan, Mass. and Dec. 16, 2022 in Hyde Park, Mass.

    Myesha Lewis, 22, was sentenced by U.S. District Court Chief Judge Dennis F. Saylor IV to three years in prison, to be followed by three years of supervised release. In October 2024, Lewis pleaded guilty to two counts of robbery of any person having lawful charge, control, or custody of any mail matter or of any money or other property of the United States, aiding and abetting and two counts of assaulting, resisting, or impeding certain officers or employees, aiding and abetting. In May 2023, Lewis was indicted by a federal grand jury along with co-defendant Kenneth Demosthene.

    USPS has seen a rise in the use of arrow keys to facilitate the theft of U.S. Mail. An arrow key is a specific key designed to open designated blue USPS collection boxes in a specific area. These arrow keys are the property of USPS and it is a federal offense for an unauthorized person to possess one. According to data from the U.S. Postal Inspection Service headquarters, from 2019 through 2022, there was a 512% increase year over year in arrow key robberies from letter carriers nationwide – rising from 64 robberies in 2019 to approximately 412 robberies in 2022. In 2023 the Postal Service reported 605 Arrow key robberies – a 49% increase in robberies over the previous year. In the last two years, 89 postal carriers were significantly injured during these robberies and at least one carrier was killed.

    On Nov. 29, 2022, in Mattapan, Lewis and Demosthene forcibly robbed a USPS letter carrier of an arrow key. Demosthene approached the letter carrier and said, “I’m going to need your master key,” before reaching into the letter carrier’s mail satchel and grabbing the arrow key. The key was secured around the letter carrier’s belt with a brass chain. The force used to physically break the brass chain caused the letter carrier to be pulled off the front steps. Lewis and Demosthene then fled the scene in a rental vehicle.

    On Dec. 16, 2022 in Hyde Park, Lewis and Demosthene robbed another USPS letter carrier of an arrow key at knife point. Demosthene approached the USPS letter carrier and said, “Give me your f****** arrow key.” The letter carrier put their hands in the air as the defendants attempted to remove the arrow key, at first by force pulling at the chain. Lewis and Demosthene then attempted to cut it with the knife, eventually breaking it loose and fleeing the scene on foot.  

    In October 2024, Demosthene was sentenced to three years in prison to be followed by three years of supervised release.

    United States Attorney Leah B. Foley and Ketty Larco-Ward, Inspector in Charge of the United States Postal Inspection Service’s Boston Field Office made the announcement today. Valuable assistance was provided by the U.S. Postal Service, Office of the Inspector General. Assistant U.S. Attorney Luke A. Goldworm of the Major Crimes Unit prosecuted the case.
     

    MIL Security OSI –

  • MIL-OSI: Anterix Inc. Reports Third Quarter Fiscal Year 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WOODLAND PARK, N.J., Feb. 11, 2025 (GLOBE NEWSWIRE) — Anterix (NASDAQ: ATEX) today announced its third quarter fiscal 2025 results and filed its Form 10-Q for the three and nine months ended December 31, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix’s website at https://investors.anterix.com/Q32025.

    Financial and Operational Highlights

    • Tom Kuhn appointed as Executive Chairman of the Board following the retirement of Morgan O’Brien
    • Industry engagement initiative announced in February 2025 to accelerate private wireless broadband opportunity
    • Strategic review process initiated in February 2025 after receiving inbound interest in the Company
    • Cash and cash equivalents of $28.8 million as of December 31, 2024
    • Approximately $147 million of contracted proceeds outstanding with $1.0 million received from Ameren Corporation in October 2024 and $34.0 million received from Oncor Electric Delivery Company in January 2025
    • Projected operating expenses run rate reduction of approximately 20% planned for fiscal 2026
    • Approximately $3 billion pipeline of prospective contract opportunities across 60+ potential customers

    Liquidity and Balance Sheet

    At December 31, 2024, the Company had no debt and cash and cash equivalents of $28.8 million. In addition, the Company had a restricted cash balance of $7.6 million in escrow deposits.

    The Company has an authorized share repurchase program for up to $250.0 million of the Company’s common stock on or before September 21, 2026. In the fiscal third quarter of 2025, Anterix had share repurchase activity of $4.4 million and approximately $229.6 million remains under the current share repurchase program as of December 31, 2024.

    Conference Call Information

    Anterix senior management will hold an analyst and investor conference call to provide a business update at 9:00 A.M. ET on Wednesday February 12, 2025. Participants interested in joining the call’s live question and answer session are required to pre-register by clicking here to obtain a dial-in number and unique PIN. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast live and will be accessible on the Investor Relations section of Anterix’s website at https://investors.anterix.com/events-presentations. Following the event, a replay of the call will also be available on the Anterix website.

    About Anterix Inc.

    At Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 100 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit www.anterix.com.

    Forward-Looking Statements

    Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to Anterix’s business or financial results or outlook. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix’s actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements; (ii) Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; (iii) Anterix’s ability to qualify for and timely secure broadband licenses; (iv) Anterix’s ability to execute on its industry engagement initiatives; (v) the timing and outcome of Anterix’s strategic review process; (vi) whether Anterix will be able to identify, develop or execute on any actions as a result of its strategic review process and (vii) competition in the market for spectrum and spectrum solutions offered by Anterix. Actual events or results may differ materially from those contemplated in this press release. Anterix’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect the Company’s financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.

    Shareholder Contact

    Natasha Vecchiarelli
    Vice President, Investor Relations & Corporate Communications
    Anterix
    973-531-4397
    nvecchiarelli@anterix.com

     
    Anterix Inc.
    Earnings Release Tables
    Consolidated Balance Sheets
    (in thousands, except share and per share data)
     
      December 31, 2024   March 31, 2024
      (Unaudited)    
    ASSETS      
    Current assets      
    Cash and cash equivalents $ 28,797     $ 60,578  
    Spectrum receivable   8,147       8,521  
    Escrow deposits   198       —  
    Prepaid expenses and other current assets   3,139       3,912  
    Total current assets   40,281       73,011  
    Escrow deposits   7,433       7,546  
    Property and equipment, net   1,579       2,062  
    Right of use assets, net   4,717       4,432  
    Intangible assets   246,215       216,743  
    Deferred broadband costs   25,976       19,772  
    Other assets   478       1,328  
    Total assets $ 326,679     $ 324,894  
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities      
    Accounts payable and other accrued expenses $ 9,009     $ 8,631  
    Accrued severance and other related charges   2,290       —  
    Operating lease liabilities   1,745       1,850  
    Contingent liability   5,397       1,000  
    Deferred revenue   5,962       6,470  
    Total current liabilities   24,403       17,951  
    Operating lease liabilities   3,609       3,446  
    Contingent liability   22,033       15,000  
    Deferred revenue   120,099       115,742  
    Deferred gain on sale of intangible assets   4,911       4,911  
    Deferred income tax   6,736       6,281  
    Other liabilities   143       531  
    Total liabilities   181,934       163,862  
    Commitments and contingencies      
    Stockholders’ equity      
    Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and no shares outstanding at December 31, 2024 and March 31, 2024   —       —  
    Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 18,586,786 shares issued and outstanding at December 31, 2024 and 18,452,892 shares issued and outstanding at March 31, 2024   2       2  
    Additional paid-in capital   543,939       533,203  
    Accumulated deficit   (399,196 )     (372,173 )
    Total stockholders’ equity   144,745       161,032  
    Total liabilities and stockholders’ equity $ 326,679     $ 324,894  
     
    Anterix Inc.
    Earnings Release Tables
    Consolidated Statements of Operations
    (Unaudited, in thousands, except share and per share data)
     
      Three months ended December 31,   Nine months ended December 31,
        2024       2023       2024       2023  
    Spectrum revenue $ 1,566     $ 1,271     $ 4,642     $ 2,931  
    Operating expenses              
    General and administrative   9,203       11,252       33,451       34,830  
    Sales and support   1,309       1,380       4,516       3,965  
    Product development   1,120       1,238       4,646       3,454  
    Severance and other related charges   3,513       —       3,513       —  
    Depreciation and amortization   142       198       472       653  
    Operating expenses   15,287       14,068       46,598       42,902  
    Gain on disposal of intangible assets, net   (20,753 )     (13,737 )     (20,846 )     (33,035 )
    Gain on sale of intangible assets, net   —       (32 )     —       (7,364 )
    Loss from disposal of long-lived assets, net   —       3       —       39  
    Gain (loss) from operations   7,032       969       (21,110 )     389  
    Interest income   434       666       1,713       1,448  
    Other income   10       31       35       189  
    Income (loss) before income taxes   7,476       1,666       (19,362 )     2,026  
    Income tax (benefit) expense   (234 )     1,338       1,218       1,743  
    Net income (loss) $ 7,710     $ 328     $ (20,580 )   $ 283  
    Net income (loss) per common share basic $ 0.41     $ 0.02     $ (1.11 )   $ 0.02  
    Net income (loss) per common share diluted $ 0.41     $ 0.02     $ (1.11 )   $ 0.01  
    Weighted-average common shares used to compute basic net income (loss) per share   18,609,736       18,704,400       18,557,453       18,858,472  
    Weighted-average common shares used to compute diluted net income (loss) per share   18,783,445       18,916,246       18,557,453       19,082,867  
     
    Anterix Inc.
    Earnings Release Tables
    Consolidated Statements of Cash Flows
    (Unaudited, in thousands)
     
      Three months ended December 31,   Nine months ended December 31,
        2024       2023       2024       2023  
    CASH FLOWS FROM OPERATING ACTIVITIES              
    Net income (loss) $ 7,710     $ 328     $ (20,580 )   $ 283  
    Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities              
    Depreciation and amortization   142       198       472       653  
    Stock compensation expense   2,865       3,921       10,619       12,024  
    Deferred income taxes   (934 )     519       455       892  
    Right of use assets   394       (1,803 )     1,226       (1,258 )
    Gain on disposal of intangible assets, net   (20,753 )     (13,737 )     (20,846 )     (33,035 )
    Gain on sale of intangible assets, net   —       (32 )     —       (7,364 )
    Loss from disposal of long-lived assets, net   —       3       —       39  
    Changes in operating assets and liabilities              
    Prepaid expenses and other assets   (260 )     (466 )     1,265       322  
    Accounts payable and accrued expenses   1,920       1,214       383       1,588  
    Accrued severance and other related charges   2,290       —       2,290       —  
    Due to related parties   —       —       —       (533 )
    Operating lease liabilities   (421 )     1,700       (1,453 )     941  
    Contingent liability   —       15,000       10,000       15,000  
    Deferred revenue   (566 )     26,795       3,849       46,301  
    Other liabilities   (86 )     —       (388 )     —  
    Net cash (used in) provided by operating activities   (7,699 )     33,640       (12,708 )     35,853  
    CASH FLOWS FROM INVESTING ACTIVITIES              
    Purchases of intangible assets, including refundable deposits, retuning costs and swaps   (1,717 )     (4,732 )     (12,621 )     (14,809 )
    Proceeds from sale of spectrum   —       249       —       25,427  
    Purchases of equipment   —       (55 )     (41 )     (267 )
    Net cash (used in) provided by investing activities   (1,717 )     (4,538 )     (12,662 )     10,351  
    CASH FLOWS FROM FINANCING ACTIVITIES              
    Proceeds from stock option exercises   —       —       1,960       7  
    Repurchases of common stock   (4,416 )     (7,971 )     (6,443 )     (18,706 )
    Payments of withholding tax on net issuance of restricted stock   (477 )     (115 )     (1,843 )     (1,137 )
    Net cash used in financing activities   (4,893 )     (8,086 )     (6,326 )     (19,836 )
    Net change in cash and cash equivalents and restricted cash   (14,309 )     21,016       (31,696 )     26,368  
    CASH AND CASH EQUIVALENTS AND RESTRICTED CASH              
    Cash and cash equivalents and restricted cash at beginning of the period   50,737       48,534       68,124       43,182  
    Cash and cash equivalents and restricted cash at end of the period $ 36,428     $ 69,550     $ 36,428     $ 69,550  
     
    Three months ended December 31,    		   Nine months ended December 31,
        2024       2023       2024       2023  
    SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION              
    Cash paid during the period:              
    Taxes paid, including excise tax $ 173     $ —     $ 1,058     $ 1  
    Operating leases paid $ 533     $ 580     $ 1,732     $ 1,732  
    Non-cash investing activity:              
    Network equipment provided in exchange for wireless licenses $ —     $ 48     $ 47     $ 616  
    Narrowband spectrum licenses received in connection with the LCRA Agreement $ 1,430     $ —     $ 1,430     $ —  
    Deferred gain on sale of intangible assets $ —     $ 22     $ —     $ 4,911  
    Derecognition of contingent liability related to sale of intangible assets $ —     $ 409     $ —     $ 19,249  
    Right of use assets new leases $ —     $ 333     $ 290     $ 439  
    Right of use assets modifications and renewals $ 124     $ 1,830     $ 1,221     $ 1,885  
    The following tables provide a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Balance Sheets that sum to the total of the same such amounts on the Consolidated Statements of Cash Flows:
        December 31, 2024   September 30, 2024   March 31, 2024
    Cash and cash equivalents   $ 28,797   $ 43,129   $ 60,578
    Escrow deposits     7,631     7,608     7,546
    Total cash and cash equivalents and restricted cash   $ 36,428   $ 50,737   $ 68,124
                 
        December 31, 2023   September 30, 2023   March 31, 2023
    Cash and cash equivalents   $ 62,033   $ 48,534   $ 43,182
    Escrow deposits     7,517     —     —
    Total cash and cash equivalents and restricted cash   $ 69,550   $ 48,534   $ 43,182
     
    Anterix Inc.
    Earnings Release Tables
    Other Financial Information
    (Unaudited, in thousands except per share data)
     
      Three months ended December 31,   Nine months ended December 31,
        2024     2023     2024     2023
    Number of shares repurchased and retired   132     230     195     563
    Average price paid per share* $ 33.59   $ 34.77   $ 32.83   $ 33.62
    Total cost to repurchase $ 4,416   $ 7,971   $ 6,443   $ 18,706

    * Average price paid per share includes costs associated with the repurchases.

    As of December 31, 2024, $229.6 million is remaining under the share repurchase program.

    The MIL Network –

  • MIL-OSI: Oxbridge / SurancePlus to Participate in Digital Assets 2025 Virtual Conference Presented by Maxim Group LLC on February 12th

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, Feb. 11, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, today announced its CEO and Chairman Jay Madhu will participate in an exclusive fireside chat at the Maxim Digital Assets Conference. Jay will be joined by Allen Klee, Managing Director, Equity Research Analyst, TMT at Maxim Group.

    Event Details: Oxbridge / SurancePlus CEO and Maxim Analyst Fireside Chat
    Date: Wednesday, February 12, 2025
    Time: 2:30 PM – 3:00 PM (EST)
    Location: This conference will be live on M-Vest. To attend, sign up to become an M-Vest member.
    Click here to learn more and reserve your seat.

    Our company will be taking part in the “Digital Assets 2025” Virtual Conference. Matthew Galinko, Research Analyst at Maxim Group, will sit down with companies in the digital asset ecosystem, including digital asset miners, equipment providers, and corporate adopters of digital assets as a treasury strategy. We will discuss the evolution of the industry and prospects in the new year with regulatory changes expected in the months ahead.

    Key Highlights of Our Discussion:

    • Oxbridge’s Role in the Digital Asset Ecosystem: Through our RWA/Web3 subsidiary, SurancePlus, we are pioneering the tokenization of Real-World Assets (RWAs), with a focus on tokenized reinsurance securities.
    • Groundbreaking Initiatives in Reinsurance and Blockchain Technology: How Oxbridge / SurancePlus is democratizing access to reinsurance investments, traditionally reserved for institutional investors and ultra-high-net-worth individuals.
    • Leveraging RWA Tokenization: Highlighting SurancePlus’ strategy to deliver uncorrelated, high-yield investment opportunities, targeting annual returns of 42% and 20%.
    • Pioneering Tokenized Reinsurance Securities: Showcasing Oxbridge / SurancePlus’ leadership in bringing reinsurance securities onto the blockchain, transforming how these assets are accessed and traded.
    • Diversification Through Digital Assets: Offering insights into Oxbridge’s recent strategic decision to include digital assets as part of its treasury reserve, aligning our financial strategy with the evolving digital economy.

    Jay Madhu, CEO of Oxbridge, commented, “I look forward to joining Allen Klee at the Maxim Digital Assets Conference to discuss how Oxbridge and SurancePlus are reshaping the future of reinsurance through blockchain technology. Our tokenized reinsurance securities not only represent a transformative shift in the industry but also create compelling value for our investors.”

    Investors and industry enthusiasts are encouraged to tune in to gain firsthand insights into Oxbridge’s strategic vision, growth trajectory, and how its innovative approach is positioned to capitalize on the RWA market opportunity.

    About Oxbridge Re Holdings Limited 

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors. 

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    About Maxim Group LLC

    Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) and is a member of FINRA SIPC, and NASDAQ. To learn more about Maxim Group, visit maximgrp.com

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    #JayMadhu #Oxbridge #SurancePlus #OXBR #OXBRW #Reinsurance #NASDAQ #Blockchain #RWA #Web3 #OxbridgeRe

    The MIL Network –

  • MIL-OSI: Tim Pool Joins Rumble & Brings His Exclusive Timcast show to Rumble Premium

    Source: GlobeNewswire (MIL-OSI)

    LONGBOAT KEY, Fla., Feb. 11, 2025 (GLOBE NEWSWIRE) — Rumble (NASDAQ:RUM), the video-sharing platform and cloud services provider, today announced that popular content creator Tim Pool is bringing his programming to Rumble, with much of it becoming available exclusively on Rumble Premium. The content is available on Rumble as of February 11, 2025.

    “We are thrilled to welcome Tim Pool to Rumble and look forward to his blunt and insightful commentary and conversations with interesting guests on topics people care about,” said Rumble Chief Executive Officer Chris Pavlovski. “Rumble is the new home for exclusive content from the creators who have the biggest and most active followings. We are proud to welcome Tim Pool and his viewers to Rumble.”

    “We could not be more excited to join Rumble, the home of honest and real conversations,” Pool said. “Working together we will expand our exclusive programs to sports, gaming, and feature length documentaries as we make history as the premiere location for authentic voices and content.”

    Pool is bringing a variety of his productions to Rumble, including Timcast.com content, which will be available exclusively to Rumble Premium subscribers or to those who are already Timcast members. In addition, the show Timcast IRL will be available on the Rumble platform five days each week, while The Culture War will post on Rumble once per week.

    ABOUT RUMBLE

    Rumble is a high-growth video platform and cloud services provider that is creating an independent infrastructure. Rumble’s mission is to restore the internet to its roots by making it free and open once again. For more information, visit: corp.rumble.com.

    Contact: press@rumble.com

    The MIL Network –

  • MIL-OSI: CNB Financial Corporation Announces Quarterly Dividend For Common Stock

    Source: GlobeNewswire (MIL-OSI)

    CLEARFIELD, Pa., Feb. 11, 2025 (GLOBE NEWSWIRE) — The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) declared a quarterly cash dividend of $0.18 per share of common stock payable on March 14, 2025 to common stock shareholders of record as of February 28, 2025.

    CNB Financial Corporation is a financial holding company with consolidated assets of approximately $6.2 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, one drive-up office, one mobile office, and 55 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Bank, headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; Ridge View Bank, based in Roanoke, Virginia, with offices in the Southwest Virginia region; and Impressia Bank, a division focused on banking opportunities for women, which operates in CNB Bank’s primary market areas. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank.

    The MIL Network –

  • MIL-OSI: Evolution Petroleum Reports Fiscal Second Quarter 2025 Results and Declares Quarterly Cash Dividend for Fiscal Third Quarter

    Source: GlobeNewswire (MIL-OSI)

    – Fiscal Q2 Production Up 10% Y/Y to 6,935 Average BOEPD – 
    – Declares Quarterly Dividend of $0.12 for Fiscal Third Quarter 2025 –

    HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced its financial and operating results for its fiscal second quarter ended December 31, 2024. The Company’s diversified portfolio continues to deliver production growth, with fiscal Q2 volumes increasing 10% year-over-year to 6,935 BOEPD. Further reinforcing its commitment to shareholder returns, Evolution declared its 46th consecutive quarterly cash dividend of $0.12 per common share for the fiscal 2025 third quarter.

    Financial & Operational Highlights

                                             
    ($ in thousands) Q2 2025   Q2 2024   Q1 2025   % Change vs
    Q2/Q2    		   % Change vs
    Q2/Q1    		   2025 YTD   2024 YTD   % Change vs
    YTD’24
    Average BOEPD   6,935       6,304     7,478   10 %   (7 )%     7,212       6,380   13 %
    Revenues $ 20,275     $ 21,024   $ 21,896   (4 )%   (7 )%   $ 42,171     $ 41,625   1 %
    Net Income(1) $ (1,825 )   $ 1,082   $ 2,065   NM     NM     $ 240     $ 2,556   (91 )%
    Adjusted Net Income(1)(2) $ (841 )   $ 1,082   $ 728   NM     NM     $ (103 )   $ 2,556   NM  
    Adjusted EBITDA(3) $ 5,688     $ 6,832   $ 8,125   (17 )%   (30 )%   $ 13,813     $ 13,535   2 %
                                                     
    (1)  “NM” means “Not Meaningful.”
    (2)  Adjusted Net Income is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information.
    (3)  Adjusted EBITDA is Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization and is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information.
     
    • Fiscal Q2 production increased 10% year-over-year to 6,935 average barrels of oil equivalent per day (“BOEPD”), with oil increasing 13%, natural gas increasing 9%, and natural gas liquids (“NGLs”) increasing 9%.
    • $4.1 million returned to shareholders in the form of cash dividends during the fiscal second quarter of 2025.
    • Three gross SCOOP/STACK wells brought online during the quarter — currently, 8 wells in progress or permitted.
    • Subsequent to quarter end, completed drilling two of four gross wells in the 2nd Chaveroo Field development block and expect to finish drilling the remaining 2 wells in the block by early March.

    Kelly Loyd, President and Chief Executive Officer, commented: “Driven by our favorable near and long-term outlook for sustainable cash flow generation from our diversified asset base, we are pleased to announce our 11th straight dividend at the rate of $0.12 per share for the upcoming quarter, payable March 31, 2025. Despite operational issues and downtime at Chaveroo and Williston, which resulted in approximately 90 BOEPD lower production for the quarter, our balanced portfolio delivered strong year-over-year production growth of 10%. These issues have been resolved, and rates were restored before the end of January. Lower commodity pricing, particularly for natural gas, was the main contributor to a modest revenue decline and net adjusted loss. However, towards the end of the quarter and beyond, we have seen a strong recovery throughout the natural gas futures curve and substantially improved natural gas price realizations to date, while oil and natural gas liquids pricing has remained relatively stable to slightly improved.

    We continue to see above-average results from new wells in the SCOOP/STACK area and are excited about new well proposals from several operators within our acreage. We remain very excited about the upcoming four gross wells (two net) in the second development block at Chaveroo. As of today, two of these new wells have been drilled, the third is underway and the fourth will follow immediately thereafter. We expect all four wells to be completed and turned in line during our fiscal fourth quarter.”

    Mr. Loyd concluded, “Looking ahead, we remain committed to driving long-term shareholder value with pursuing high-quality, low-decline assets at attractive valuations, expanding our drilling inventory, and maintaining our strong financial foundation. We are evaluating multiple acquisition opportunities that have the potential to enhance our long-term growth strategy and further improve our cash flow generation — all at very compelling valuations that would be materially accretive to earnings. Given our track record of executing disciplined investments, we are confident in our ability to deliver sustainable growth, create value through accretive M&A, and continue supporting our dividend program for years to come.”

    Fiscal Second Quarter 2025 Financial Results

    Total revenues decreased 4% to $20.3 million compared to $21.0 million in the year-ago quarter. The decline was driven primarily by a 12% decrease in average realized commodity prices which offset an increase in production volumes. The increase in production volumes was largely due to the Company’s SCOOP/STACK acquisitions in February 2024 and subsequent drilling and completion activities, as well as new wells at Chaveroo that came online at the same time.

    Lease operating costs (“LOE”) increased to $12.8 million compared to $12.4 million in the year-ago quarter. The overall increase was driven by the addition of the Company’s SCOOP/STACK properties and Chaveroo wells since the prior year period, collectively adding $1.2 million in lease operating costs this quarter. The overall increase was partially offset by the reduction in CO2 purchases at Delhi Field due to maintenance on the pipeline that began in February 2024. CO2 purchases restarted in late October 2024. The increase in production from the Company’s SCOOP/STACK properties and Chaveroo wells, which incur lower relative operating costs compared to other areas, has also driven down LOE on a per-unit basis. On a per unit basis, total LOE decreased 6% to $20.05 per BOE compared to $21.30 per BOE in the year-ago quarter.

    Depletion, depreciation, and accretion expense was $5.4 million compared to $4.6 million in the year-ago period. On a per BOE basis, the Company’s current quarter depletion rate increased to $7.87 per BOE compared to $7.31 per BOE in the year-ago period due to an increase in depletable base related to the Company’s SCOOP/STACK acquisitions and capital development expenditures added since the prior fiscal year.

    General and administrative (“G&A”) expenses, excluding stock-based compensation, increased slightly to $2.0 million compared to $1.9 million in the year-ago period. On a per BOE basis, G&A expenses decreased to $3.13 compared to $3.34 in the year-ago period. The decrease on a per unit basis is the result of increased production.

    The Company reported a net loss of $1.8 million or $(0.06) per share, compared to net income of $1.1 million or $0.03 per share in the year-ago period. Excluding the impact of unrealized losses, adjusted net loss was $0.8 million or $(0.03) per diluted share, compared to adjusted net income of $1.1 million or $0.03 per diluted share in the prior quarter.

    Adjusted EBITDA was $5.7 million compared to $6.8 million in the year-ago period. The decrease was primarily due to decreased revenue as a result of lower commodity prices and higher total operating costs due to the SCOOP/STACK acquisitions.

    Production & Pricing

                     
    Average price per unit: Q2 2025   Q2 2024   % Change vs Q2/Q2
    Crude oil (BBL) $ 65.72   $ 73.96   (11)%
    Natural gas (MCF)   2.73     3.35   (19)%
    Natural Gas Liquids (BBL)   25.90     28.48   (9)%
    Equivalent (BOE)   31.78     36.25   (12)%
                     

    Total production for the second quarter of fiscal 2025 increased 10% to 6,935 net BOEPD compared to 6,304 net BOEPD in the year-ago period. Total production for the second quarter of fiscal 2025 included 1,946 barrels per day (“BOPD”) of crude oil, 3,848 BOEPD of natural gas, and 1,141 BOEPD of NGLs. The increase in total production was driven by the closing of the Company’s SCOOP/STACK acquisitions in February 2024 and production from the initial three wells in the Chaveroo oilfield coming online at the same time. Total oil and natural gas liquids production generated 71% of revenue for the quarter compared to 69% in the year-ago period.

    The Company’s average realized commodity price (excluding the impact of derivative contracts) decreased 12% to $31.78 per BOE, compared to $36.25 per BOE in the year-ago period. These decreases were primarily driven by a decrease of approximately 19% in realized natural gas prices year over year.

    Operations Update

    At SCOOP/STACK, the Company’s operators brought three gross wells online during fiscal Q2 2025, which is in addition to the seven gross wells brought online during fiscal Q1 2025. Additionally, Evolution has agreed to participate in eight gross new horizontal wells across the acreage. Since the effective date of the acquisitions, a total of 32 gross wells (or 0.5 net wells) have commenced first production.

    Chaveroo production for fiscal Q2 was down due to gas interference in the downhole pumps. However, these issues have since been resolved, and production rebounded back to expected rates in January 2025. The Company has preliminarily agreed to six additional horizontal wells in Drilling Block Three, which are anticipated to begin operations in early fiscal 2026. Drilling activities began in January 2025 on the four new gross wells in the Company’s second development block. As of today, Evolution has finished drilling two of the four gross wells and expects to finish drilling the remaining wells by early March.

    In the Williston Basin, a compressor failure on a third-party-operated gathering system caused temporary downtime for 30 days at the beginning of fiscal Q2, resulting in reduced natural gas sales for the period. Correspondingly, NGL production saw a decline during this period as well. Oil sales volumes were also negatively impacted during the quarter due to delays in sales of oil at the end of December. Those volumes were subsequently sold in January.

    At Delhi, CO2 injections resumed during fiscal Q2 2025, which has positively impacted production. Following the quarter end, one new well has been drilled at Test Site V and the Company is awaiting results.

    Balance Sheet, Liquidity, and Capital Spending

    On December 31, 2024, cash and cash equivalents totaled $11.7 million, and working capital was $10.5 million. Evolution had $39.5 million of borrowings outstanding under its revolving credit facility, and total liquidity of $22.2 million, including cash and cash equivalents. In fiscal Q2, Evolution paid $4.1 million in common stock dividends and $0.8 million in capital expenditures. During the period ended December 31, 2024, the Company sold a total of approximately 0.4 million shares of its common stock under its At-the-Market Sales Agreement for net proceeds of approximately $2.0 million, after deducting an initial $0.2 million in fees for due diligence incurred with the offering.

    Cash Dividend on Common Stock

    On February 10, 2025, Evolution’s Board of Directors declared a cash dividend of $0.12 per share of common stock, which will be paid on March 31, 2025, to common stockholders of record on March 14, 2025. This will be the 46th consecutive quarterly cash dividend on the Company’s common stock since December 31, 2013. To date, Evolution has returned approximately $126.6 million, or $3.81 per share, back to stockholders in common stock dividends.

    Conference Call

    As previously announced, Evolution Petroleum will host a conference call on Wednesday, February 12, 2025, at 10:00 a.m. CT to review its fiscal second quarter 2025 financial and operating results. Participants can join online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=HS7VesBT or by dialing (844) 481-2813. Dial-in participants should ask to join the Evolution Petroleum Corporation call. A replay will be available through February 12, 2026, via the provided webcast link and on Evolution’s Investor Relations website at www.ir.evolutionpetroleum.com.

    About Evolution Petroleum

    Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Properties include non-operated interests in the following areas: the SCOOP/STACK plays of the Anadarko Basin in Oklahoma; the Chaveroo Oilfield located in Chaves and Roosevelt Counties, New Mexico; the Jonah Field in Sublette County, Wyoming; the Williston Basin in North Dakota; the Barnett Shale located in North Texas; the Hamilton Dome Field located in Hot Springs County, Wyoming; the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana; as well as small overriding royalty interests in four onshore Texas wells. Visit www.evolutionpetroleum.com for more information.

    Cautionary Statement

    All forward-looking statements contained in this press release regarding the Company’s current and future expectations, potential results, and plans and objectives involve a wide range of risks and uncertainties. Statements herein using words such as “believe,” “expect,” “may,” “plans,” “outlook,” “should,” “will,” and words of similar meaning are forward-looking statements. Although the Company’s expectations are based on business, engineering, geological, financial, and operating assumptions that it believes to be reasonable, many factors could cause actual results to differ materially from its expectations. The Company gives no assurance that its goals will be achieved. These factors and others are detailed under the heading “Risk Factors” and elsewhere in our periodic reports filed with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to update any forward-looking statement.

    Contact
    Investor Relations
    (713) 935-0122
    ir@evolutionpetroleum.com

    Evolution Petroleum Corporation
    Condensed Consolidated Statements of Operations (Unaudited)
    (In thousands, except per share amounts)
     
                                 
      Three Months Ended   Six Months Ended
      December 31,   September 30,   December 31,
      2024   2023   2024   2024   2023
    Revenues                            
    Crude oil $ 11,763     $ 11,759     $ 14,737     $ 26,500     $ 24,375  
    Natural gas   5,793       6,531       4,285       10,078       12,083  
    Natural gas liquids   2,719       2,734       2,874       5,593       5,167  
    Total revenues   20,275       21,024       21,896       42,171       41,625  
    Operating costs                            
    Lease operating costs   12,793       12,358       11,790       24,583       24,241  
    Depletion, depreciation, and accretion   5,433       4,598       5,725       11,158       8,860  
    General and administrative expenses   2,654       2,502       2,527       5,181       5,105  
    Total operating costs   20,880       19,458       20,042       40,922       38,206  
    Income (loss) from operations   (605 )     1,566       1,854       1,249       3,419  
    Other income (expense)                            
    Net gain (loss) on derivative contracts   (1,219 )     —       1,798       579       —  
    Interest and other income   52       104       57       109       220  
    Interest expense   (764 )     (34 )     (823 )     (1,587 )     (66 )
    Income (loss) before income taxes   (2,536 )     1,636       2,886       350       3,573  
    Income tax (expense) benefit   711       (554 )     (821 )     (110 )     (1,017 )
    Net income (loss) $ (1,825 )   $ 1,082     $ 2,065     $ 240     $ 2,556  
    Net income (loss) per common share:                            
    Basic $ (0.06 )   $ 0.03     $ 0.06     $ —     $ 0.08  
    Diluted $ (0.06 )   $ 0.03     $ 0.06     $ —     $ 0.08  
    Weighted average number of common shares outstanding:                            
    Basic   32,934       32,693       32,722       32,828       32,676  
    Diluted   32,934       32,900       32,868       32,994       32,940  
                                           
    Evolution Petroleum Corporation
    Condensed Consolidated Balance Sheets (Unaudited)
    (In thousands, except share and per share amounts)
               
      December 31, 2024    June 30, 2024
    Assets          
    Current assets          
    Cash and cash equivalents $ 11,667   $ 6,446
    Receivables from crude oil, natural gas, and natural gas liquids revenues   10,675     10,826
    Derivative contract assets   1,073     596
    Prepaid expenses and other current assets   3,572     3,855
    Total current assets   26,987     21,723
    Property and equipment, net of depletion, depreciation, and impairment          
    Oil and natural gas properties, net—full-cost method of accounting, of which none were excluded from amortization   131,722     139,685
               
    Other noncurrent assets          
    Derivative contract assets   250     171
    Other assets   1,258     1,298
    Total assets $ 160,217   $ 162,877
    Liabilities and Stockholders’ Equity          
    Current liabilities          
    Accounts payable $ 10,771   $ 8,308
    Accrued liabilities and other   5,249     6,239
    Derivative contract liabilities   439     1,192
    State and federal taxes payable   —     74
    Total current liabilities   16,459     15,813
    Long term liabilities          
    Senior secured credit facility   39,500     39,500
    Deferred income taxes   6,673     6,702
    Asset retirement obligations   19,993     19,209
    Derivative contract liabilities   1,277     468
    Operating lease liability   13     58
    Total liabilities   83,915     81,750
    Commitments and contingencies          
    Stockholders’ equity          
    Common stock; par value $0.001; 100,000,000 shares authorized: issued and          
    outstanding 34,076,846 and 33,339,535 shares as of December 31, 2024          
    and June 30, 2024, respectively   34     33
    Additional paid-in capital   44,140     41,091
    Retained earnings   32,128     40,003
    Total stockholders’ equity   76,302     81,127
    Total liabilities and stockholders’ equity $ 160,217   $ 162,877
               
    Evolution Petroleum Corporation
    Condensed Consolidated Statements of Cash Flows (Unaudited)
    (In thousands)
                                 
      Three Months Ended   Six Months Ended
      December 31,   September 30,   December 31,
      2024   2023   2024   2024   2023
    Cash flows from operating activities:                            
    Net income (loss) $ (1,825 )   $ 1,082     $ 2,065     $ 240     $ 2,556  
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:                            
    Depletion, depreciation, and accretion   5,433       4,598       5,725       11,158       8,860  
    Stock-based compensation   659       564       559       1,218       1,036  
    Settlement of asset retirement obligations   (182 )     —       (98 )     (280 )     —  
    Deferred income taxes   252       (567 )     (281 )     (29 )     (642 )
    Unrealized (gain) loss on derivative contracts   1,368       —       (1,868 )     (500 )     —  
    Accrued settlements on derivative contracts   9       —       (66 )     (57 )     —  
    Other   (1 )     3       (2 )     (3 )     3  
    Changes in operating assets and liabilities:                            
    Receivables from crude oil, natural gas, and natural gas liquids revenues   29       447       (37 )     (8 )     (2,239 )
    Prepaid expenses and other current assets   (1,494 )     (443 )     1,929       435       (274 )
    Accounts payable, accrued liabilities and other   3,471       2,123       (238 )     3,233       2,443  
    State and federal taxes payable   —       (753 )     (74 )     (74 )     (365 )
    Net cash provided by operating activities   7,719       7,054       7,614       15,333       11,378  
    Cash flows from investing activities:                            
    Acquisition of oil and natural gas properties   (69 )     —       (262 )     (331 )     —  
    Capital expenditures for oil and natural gas properties   (758 )     (3,878 )     (2,740 )     (3,498 )     (5,705 )
    Net cash used in investing activities   (827 )     (3,878 )     (3,002 )     (3,829 )     (5,705 )
    Cash flows from financing activities:                            
    Common stock dividends paid   (4,082 )     (4,021 )     (4,033 )     (8,115 )     (8,034 )
    Common stock repurchases, including stock surrendered for tax withholding   (103 )     (108 )     (88 )     (191 )     (213 )
    Issuance of common stock   2,259       —       —       2,259       —  
    Offering costs   (236 )     —       —       (236 )     —  
    Net cash used in financing activities   (2,162 )     (4,129 )     (4,121 )     (6,283 )     (8,247 )
    Net increase (decrease) in cash and cash equivalents   4,730       (953 )     491       5,221       (2,574 )
    Cash and cash equivalents, beginning of period   6,937       9,413       6,446       6,446       11,034  
    Cash and cash equivalents, end of period $ 11,667     $ 8,460     $ 6,937     $ 11,667     $ 8,460  
                                           

    Evolution Petroleum Corporation
    Non-GAAP Reconciliation – Adjusted EBITDA (Unaudited)
    (In thousands)

    Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items are non-GAAP financial measures that are used as supplemental financial measures by our management and by external users of our financial statements, such as investors, commercial banks, and others, to assess our operating performance as compared to that of other companies in our industry, without regard to financing methods, capital structure, or historical costs basis. We use these measures to assess our ability to incur and service debt and fund capital expenditures. Our Adjusted EBITDA and Net income (loss) and earnings per share, excluding selected items, should not be considered alternatives to net income (loss), operating income (loss), cash flows provided by (used in) operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items in the same manner.

    We define Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion, and accretion (DD&A), stock-based compensation, ceiling test impairment, and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-recurring or non-cash expense (income) items.

                                 
      Three Months Ended   Six Months Ended
      December 31,   September 30,   December 31,
      2024   2023   2024   2024   2023
    Net income (loss) $ (1,825 )   $ 1,082   $ 2,065     $ 240     $ 2,556
    Adjusted by:                            
    Interest expense   764       34     823       1,587       66
    Income tax expense (benefit)   (711 )     554     821       110       1,017
    Depletion, depreciation, and accretion   5,433       4,598     5,725       11,158       8,860
    Stock-based compensation   659       564     559       1,218       1,036
    Unrealized loss (gain) on derivative contracts   1,368       —     (1,868 )     (500 )     —
    Adjusted EBITDA $ 5,688     $ 6,832   $ 8,125     $ 13,813     $ 13,535
                                       
    Evolution Petroleum Corporation
    Non-GAAP Reconciliation – Adjusted Net Income (Unaudited)
    (In thousands, except per share amounts)
                                 
      Three Months Ended   Six Months Ended
      December 31,   September 30,   December 31,
      2024   2023   2024   2024   2023
    As Reported:                            
    Net income (loss), as reported $ (1,825 )   $ 1,082     $ 2,065     $ 240     $ 2,556  
                                 
    Impact of Selected Items:                            
    Unrealized loss (gain) on commodity contracts   1,368       —       (1,868 )     (500 )     —  
    Selected items, before income taxes $ 1,368     $ —     $ (1,868 )   $ (500 )   $ —  
    Income tax effect of selected items(1)   384       —       (531 )     (157 )     —  
    Selected items, net of tax $ 984     $ —     $ (1,337 )   $ (343 )   $ —  
                                 
    As Adjusted:                            
    Net income (loss), excluding selected items(2) $ (841 )   $ 1,082     $ 728     $ (103 )   $ 2,556  
                                 
    Undistributed earnings allocated to unvested restricted stock   (100 )     (24 )     (14 )     (178 )     (51 )
    Net income (loss), excluding selected items for earnings per share calculation $ (941 )   $ 1,058     $ 714     $ (281 )   $ 2,505  
                                 
    Net income (loss) per common share — Basic, as reported $ (0.06 )   $ 0.03     $ 0.06     $ —     $ 0.08  
    Impact of selected items   0.03       —       (0.04 )     (0.01 )     —  
    Net income (loss) per common share — Basic, excluding selected items(2) $ (0.03 )   $ 0.03     $ 0.02     $ (0.01 )   $ 0.08  
                                 
                                 
    Net income (loss) per common share — Diluted, as reported $ (0.06 )   $ 0.03     $ 0.06     $ —     $ 0.08  
    Impact of selected items   0.03       —       (0.04 )     (0.01 )     —  
    Net income (loss) per common share — Diluted, excluding selected items(2)(3) $ (0.03 )   $ 0.03     $ 0.02     $ (0.01 )   $ 0.08  
                                           
    ________________________________
    (1)  The tax impact for the three months ended December 31, 2024 and September 30, 2024, is represented using estimated tax rates of 28.0% and 28.4%, respectively. The tax impact for the six months ended December 31, 2024 is represented using estimated tax rates of 31.4%.
    (2)  Net income (loss) and earnings per share excluding selected items are non-GAAP financial measures presented as supplemental financial measures to enable a user of the financial information to understand the impact of these items on reported results. These financial measures should not be considered an alternative to net income (loss), operating income (loss), cash flows provided by (used in) operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our Adjusted Net Income (Loss) and earnings per share may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted Net Income (Loss) and earnings per share in the same manner.
    (3)  The impact of selected items for the three months ended December 31, 2024, and 2023, were each calculated based upon weighted average diluted shares of 32.9 million, due to the net income (loss), excluding selected items. The impact of selected items for the three months ended September 30, 2024, was calculated based upon weighted average diluted shares of 32.9 million due to the net income (loss), excluding selected items. The impact of selected items for the six months ended December 31, 2024, and 2023, was each calculated based upon weighted average diluted shares of 32.8 million and 32.9 million, respectively, due to the net income (loss), excluding selected items.
                                           
    Evolution Petroleum Corporation
    Supplemental Information on Oil and Natural Gas Operations (Unaudited)
    (In thousands, except per unit and per BOE amounts)
                                 
      Three Months Ended   Six Months Ended
      December 31,   September 30,   December 31,
      2024   2023   2024   2024   2023
    Revenues:                            
    Crude oil $ 11,763   $ 11,759   $ 14,737   $ 26,500   $ 24,375
    Natural gas   5,793     6,531     4,285     10,078     12,083
    Natural gas liquids   2,719     2,734     2,874     5,593     5,167
    Total revenues $ 20,275   $ 21,024   $ 21,896   $ 42,171   $ 41,625
                                 
    Lease operating costs:                            
    Ad valorem and production taxes $ 1,441   $ 1,272   $ 1,414   $ 2,855   $ 2,550
    Gathering, transportation, and other costs   2,889     2,496     2,790     5,679     4,399
    Other lease operating costs   8,463     8,590     7,586     16,049     17,292
    Total lease operating costs $ 12,793   $ 12,358   $ 11,790   $ 24,583   $ 24,241
                                 
    Depletion of full cost proved oil and natural gas properties $ 5,024   $ 4,238   $ 5,325   $ 10,349   $ 8,148
                                 
    Production:                            
    Crude oil (MBBL)   179     159     204     383     320
    Natural gas (MMCF)   2,125     1,951     2,228     4,353     3,976
    Natural gas liquids (MBBL)   105     96     113     218     191
    Equivalent (MBOE)(1)   638     580     688     1,327     1,174
    Average daily production (BOEPD)(1)   6,935     6,304     7,478     7,212     6,380
                                 
    Average price per unit:(2)                            
    Crude oil (BBL) $ 65.72   $ 73.96   $ 72.24   $ 69.19   $ 76.17
    Natural gas (MCF)   2.73     3.35     1.92     2.32     3.04
    Natural Gas Liquids (BBL)   25.90     28.48     25.43     25.66     27.05
    Equivalent (BOE)(1) $ 31.78   $ 36.25   $ 31.83   $ 31.78   $ 35.46
                                 
    Average cost per unit:                            
    Ad valorem and production taxes $ 2.26   $ 2.19   $ 2.06   $ 2.15   $ 2.17
    Gathering, transportation, and other costs   4.53     4.30     4.06     4.28     3.75
    Other lease operating costs   13.26     14.81     11.03     12.09     14.73
    Total lease operating costs $ 20.05   $ 21.30   $ 17.15   $ 18.52   $ 20.65
                                 
    Depletion of full cost proved oil and natural gas properties $ 7.87   $ 7.31   $ 7.74   $ 7.80   $ 6.94
    _______________________________
    (1)  Equivalent oil reserves are defined as six MCF of natural gas and 42 gallons of NGLs to one barrel of oil conversion ratio, which reflects energy equivalence and not price equivalence. Natural gas prices per MCF and NGL prices per barrel often differ significantly from the equivalent amount of oil.
    (2)  Amounts exclude the impact of cash paid or received on the settlement of derivative contracts since we did not elect to apply hedge accounting.
     
    Evolution Petroleum Corporation
    Summary of Production Volumes and Average Sales Price (Unaudited)
                                       
      Three Months Ended
      December 31,    September 30,
      2024   2023   2024
      Volume    Price    Volume    Price    Volume    Price
    Production:                                  
    Crude oil (MBBL)                                  
    SCOOP/STACK   35   $ 70.52     —   $ —     49   $ 75.38
    Chaveroo Field   9     67.55     —     —     16     73.69
    Jonah Field   7     64.54     8     80.25     7     65.77
    Williston Basin   30     64.64     35     71.71     33     68.87
    Barnett Shale   2     65.99     2     76.77     2     70.30
    Hamilton Dome Field   35     57.53     36     62.03     35     62.37
    Delhi Field   60     68.66     78     79.02     61     77.22
    Other   1     71.61     —     —     1     78.32
    Total   179   $ 65.72     159   $ 73.96     204   $ 72.24
    Natural gas (MMCF)                                  
    SCOOP/STACK   314   $ 2.89     —   $ —     354   $ 2.48
    Chaveroo Field   —     —     —     —     —     —
    Jonah Field   803     3.21     883     4.87     830     2.08
    Williston Basin   18     1.41     14     1.91     27     1.43
    Barnett Shale   990     2.31     1,054     2.10     1,017     1.62
    Total   2,125   $ 2.73     1,951   $ 3.35     2,228   $ 1.92
    Natural gas liquids (MBBL)                                  
    SCOOP/STACK   18   $ 21.34     —   $ —     19   $ 21.67
    Chaveroo Field   —     —     —     —     —     —
    Jonah Field   9     30.08     10     25.88     9     28.15
    Williston Basin   2     17.86     4     20.41     7     17.93
    Barnett Shale   57     25.86     60     30.07     56     26.03
    Delhi Field   19     29.13     22     26.90     20     29.48
    Other   —     —     —     —     2     13.06
    Total   105   $ 25.90     96   $ 28.48     113   $ 25.43
                                       
    Equivalent (MBOE)(1)                                  
    SCOOP/STACK   105   $ 35.48     —   $ —     127   $ 39.20
    Chaveroo Field   9     67.55     —     —     16     73.69
    Jonah Field   150     22.14     165     31.60     154     15.85
    Williston Basin   35     57.00     41     63.22     45     54.62
    Barnett Shale   224     17.29     238     17.61     227     14.21
    Hamilton Dome Field   35     57.53     36     62.03     35     62.37
    Delhi Field   79     59.37     100     67.63     81     65.28
    Other   1     71.61     —     —     3     61.15
    Total   638   $ 31.78     580   $ 36.25     688   $ 31.83
                                       
    Average daily production (BOEPD)(1)                                  
    SCOOP/STACK   1,141           —           1,380      
    Chaveroo Field   98           —           174      
    Jonah Field   1,630           1,793           1,674      
    Williston Basin   380           446           489      
    Barnett Shale   2,435           2,587           2,467      
    Hamilton Dome Field   380           391           380      
    Delhi Field   859           1,087           880      
    Other   12           —           34      
    Total   6,935           6,304           7,478      
    _____________________________
    (1)   Equivalent oil reserves are defined as six MCF of natural gas and 42 gallons of NGLs to one barrel of oil conversion ratio, which reflects energy equivalence and not price equivalence. Natural gas prices per MCF and NGL prices per barrel often differ significantly from the equivalent amount of oil.
     
    Evolution Petroleum Corporation
    Summary of Average Production Costs (Unaudited)
                                       
      Three Months Ended
      December 31,    September 30,
      2024   2023   2024
      Amount    Price    Amount    Price    Amount    Price
    Production costs (in thousands, except per BOE):                                  
    Lease operating costs                                  
    SCOOP/STACK $ 1,050   $ 9.97   $ —   $ —   $ 1,156   $ 9.10
    Chaveroo Field   122     12.92     —     —     118     7.38
    Jonah Field   2,196     14.62     2,392     14.45     2,162     13.95
    Williston Basin   1,190     34.12     1,205     28.74     1,238     27.51
    Barnett Shale   4,030     18.03     3,883     16.31     3,598     15.83
    Hamilton Dome Field   1,188     34.18     1,404     39.43     1,531     43.48
    Delhi Field   3,017     38.15     3,474     35.00     1,987     24.30
    Total $ 12,793   $ 20.05   $ 12,358   $ 21.30   $ 11,790   $ 17.15
                                       

    Evolution Petroleum Corporation
    Summary of Open Derivative Contracts (Unaudited)

    For more information on the Company’s hedging practices, see Note 7 to its financial statements included on Form 10-Q filed with the SEC for the quarter ended December 31, 2024.

    The Company had the following open crude oil and natural gas derivative contracts as of February 11, 2025:

                                   
                Volumes in   Swap Price per   Floor Price per   Ceiling Price per
    Period    Commodity    Instrument    MMBTU/BBL   MMBTU/BBL    MMBTU/BBL    MMBTU/BBL
    January 2025 – March 2025   Crude Oil   Collar   42,566         $ 68.00   $ 73.77
    January 2025 – June 2025   Crude Oil   Fixed-Price Swap   51,992   $ 73.49            
    February 2025 – March 2025   Crude Oil   Put   3,277           75.00      
    February 2025 – March 2025   Crude Oil   Fixed-Price Swap   3,278     71.02            
    April 2025 – June 2025   Crude Oil   Collar   41,601           65.00     84.00
    April 2025 – December 2025   Crude Oil   Fixed-Price Swap   32,229     72.00            
    July 2025 – December 2025   Crude Oil   Fixed-Price Swap   81,335     71.40            
    January 2026 – March 2026   Crude Oil   Collar   43,493           60.00     75.80
    January 2025 – February 2025   Natural Gas   Fixed-Price Swap   312,286     3.56            
    January 2025 – March 2025   Natural Gas   Basis Swap   305,607     0.66            
    March 2025 – December 2026   Natural Gas   Fixed-Price Swap   3,170,705     3.60            
    January 2026 – March 2026   Natural Gas   Collar   375,481           3.60     5.00
    April 2025 – December 2027   Natural Gas   Fixed-Price Swap   3,729,540     3.57            

    This press release was published by a CLEAR® Verified individual.

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