Category: Business

MIL-OSI: Archrock Reports Fourth Quarter and Full Year 2024 Results and Provides 2025 Guidance

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Feb. 24, 2025 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the fourth quarter and full year 2024.

Fourth Quarter and Full Year 2024 Highlights

Revenue for the fourth quarter of 2024 was $326.4 million compared to $259.6 million in the fourth quarter of 2023. Revenue for 2024 was $1,157.6 million compared to $990.3 million in 2023.
Net income for the fourth quarter of 2024 was $59.8 million and EPS was $0.34, compared to $33.0 million and $0.21, respectively, in the fourth quarter of 2023. Net income for 2024 was $172.2 million and EPS was $1.05, compared to $105.0 million and $0.67, respectively, in 2023.
Adjusted net income (a non-GAAP measure defined below) for the fourth quarter of 2024 was $61.5 million and adjusted EPS (a non-GAAP measure defined below) was $0.35, compared to $33.0 million and $0.21, respectively, in the fourth quarter of 2023. Adjusted net income for 2024 was $185.2 million and adjusted EPS was $1.13 compared to $105.0 million and $0.67, respectively, in 2023.
Adjusted EBITDA (a non-GAAP measure defined below) for the fourth quarter of 2024 was $183.8 million compared to $120.3 million in the fourth quarter of 2023. Adjusted EBITDA for 2024 was $595.4 million compared to $450.4 million in 2023.
Declared a quarterly dividend of $0.19 per common share for the fourth quarter of 2024, approximately 15% higher compared to the fourth quarter of 2023, resulting in dividend coverage of 3.5x.

Management Commentary and Outlook

“Archrock’s outstanding fourth quarter performance rounded out a record-setting year of robust utilization and profitability,” said Brad Childers, Archrock’s President and Chief Executive Officer. “For 2024, we increased our contract operations adjusted gross margin by 500 basis points, improved our net income by over 60% and grew our adjusted EBITDA by more than 30% year over year. We maintained a prudent balance sheet, ending the year with a leverage ratio of 3.3x, and returned $124 million in capital to our shareholders through dividends and share buybacks. We achieved these milestones while concurrently completing a transformative acquisition that established our leadership position in electric motor drive compression.

“We are even more excited about what we are positioned to deliver in 2025. Archrock continues to perform at an exceptional level, reflecting consistent operational execution and the successful progression of our strategic initiatives. Our investment in high-quality assets, excellent customer service and implementation of innovative technology and processes are driving value for our customers and our shareholders.

“Moreover, we see the market opportunities provided by rising energy demand, and in particular, the natural gas required to support growing LNG exports and power generation, continuing into the foreseeable future. With sustained high utilization levels and a large and contracted backlog for 2025, we are booking units for 2026 delivery and believe we will continue to see strong customer demand for new equipment well into next year.

“This impressive and durable investment outlook for Archrock is further underpinned by our financial flexibility and returns-based capital allocation. We are investing in profitable, high-return growth in large midstream and electric motor drive compression to support our high-quality customers in premier, primarily associated gas, plays like the Permian. We also remain committed to consistent growth in shareholder returns and started the year with a 15% year-over-year increase to our quarterly dividend per share, while maintaining prudent dividend coverage and leverage ratios,” concluded Childers.

Fourth Quarter and Full Year 2024 Financial Results

Archrock’s fourth quarter 2024 net income of $59.8 million included a non-cash long-lived and other asset impairment of $1.2 million, transaction-related costs totaling $2.2 million and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.5 million. Archrock’s fourth quarter 2023 net income of $33.0 million included a non-cash long-lived and other asset impairment of $3.7 million and a non-cash unrealized increase in the fair value of our investment in an unconsolidated affiliate of $1.0 million.

Fourth quarter 2024 selling, general, and administrative expenses of $42.2 million compared to $33.0 million for the fourth quarter of 2023 primarily reflect the increase in stock price throughout the year, which drove higher long-term incentive compensation, as well as other increases in performance-based short-term and long-term incentive compensation expense given the outperformance relative to earlier expectations in 2024.

Adjusted EBITDA for the fourth quarter of 2024 and 2023 included $12.7 million and $2.2 million, respectively, in net gains related to the sale of compression and other assets.

Archrock’s full year 2024 net income of $172.2 million included the following items: transaction-related costs totaling $13.2 million, a non-cash long-lived and other asset impairment of $10.7 million, a debt extinguishment loss of $3.2 million, and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.5 million. Archrock’s full year 2023 net income of $105.0 million included the following items: a non-cash long-lived and other asset impairment of $12.0 million, restructuring charges of $1.8 million and a non-cash unrealized decrease in the fair value of our investment in an unconsolidated affiliate of $1.0 million.

Adjusted EBITDA for the full year 2024 and 2023 included $17.9 million and $10.2 million, respectively, in net gains related to the sale of compression and other assets.

Contract Operations

For the fourth quarter of 2024, contract operations segment revenue totaled $286.5 million, an increase of 34% compared to $213.0 million in the fourth quarter of 2023. Adjusted gross margin for the fourth quarter of 2024 was $200.2 million, up 46% from $137.1 million. Adjusted gross margin percentage for the fourth quarter of 2024 was 70%, compared to 64% in the fourth quarter of 2023. Total operating horsepower at the end of the fourth quarter of 2024 was 4.2 million compared to 3.6 million at the end of the fourth quarter of 2023. Utilization at the end of the fourth quarter of 2024 was 96%, consistent with the fourth quarter of 2023.

Aftermarket Services

For the fourth quarter of 2024, aftermarket services segment revenue totaled $40.0 million, compared to $46.6 million in the fourth quarter of 2023 due to seasonal delay in service activity. Adjusted gross margin for the fourth quarter of 2024 was $9.1 million, compared to $10.2 million in the fourth quarter of 2023. Adjusted gross margin percentage for the fourth quarter of 2024 was 23%, compared to 22% for the fourth quarter of 2023.

Balance Sheet

Long-term debt was $2.2 billion and our available liquidity totaled $688 million at December 31, 2024. Our leverage ratio was 3.3x as of December 31, 2024, down from 3.5x as of December 31, 2023.

Quarterly Dividend

Our Board of Directors recently declared a quarterly dividend of $0.19 per share of common stock, or $0.70 per share on an annualized basis for the year ended December 31, 2024. Dividend coverage in the fourth quarter of 2024 was 3.5x. The fourth quarter 2024 dividend was paid on February 19, 2025 to stockholders of record at the close of business on February 12, 2025.

2025 Annual Guidance

(in thousands, except percentages, per share amounts, and ratios)

	Full Year 2025 Guidance
		Low			High
Net income^{(1) (2)}	$	253,000		$	293,000
Adjusted EBITDA⁽³⁾		750,000			790,000
Cash available for dividend^{(4) (5)}		456,000			471,000

Segment
Contract operations revenue	$	1,200,000		$	1,235,000
Contract operations adjusted gross margin percentage		68	%		71	%
Aftermarket services revenue	$	190,000		$	210,000
Aftermarket services adjusted gross margin percentage		22	%		24	%

Selling, general and administrative	$	147,000		$	142,000

Capital expenditures
Growth capital expenditures	$	330,000		$	370,000
Maintenance capital expenditures		105,000			115,000
Other capital expenditures		35,000			50,000
__________________________________
⁽¹⁾ 2025 annual guidance for net income does not include the impact of long-lived and other asset impairment because due to its nature, it cannot be accurately forecasted. Long-lived and other asset impairment does not impact adjusted EBITDA or cash available for dividend, however it is a reconciling item between these measures and net income. Long-lived and other asset impairment for the years 2024 and 2023 was $10.7 million and $12.0 million, respectively.
⁽²⁾ Reflects an estimate of expenses to be incurred related to the acquisition of Total Operations and Production Services, LLC (the “TOPS Acquisition”).
⁽³⁾ Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
⁽⁴⁾ Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
⁽⁵⁾ A forward-looking estimate of cash provided by operating activities is not provided because certain items necessary to estimate cash provided by operating activities, including changes in assets and liabilities, are not estimable at this time. Changes in assets and liabilities were $(25.8) million and $(28.0) million for the years 2024 and 2023, respectively.

Summary Metrics

(in thousands, except percentages, per share amounts and ratios)

	Three Months Ended										Year Ended
	December 31,			September 30,				December 31,			December 31,				December 31,
	2024			2024				2023			2024				2023
Net income	$	59,758		$	37,516			$	33,002		$	172,231			$	104,998
Adjusted net income ⁽¹⁾	$	61,533		$	47,313			$	33,002		$	185,211			$	104,998
Adjusted EBITDA ⁽¹⁾	$	183,844		$	150,854			$	120,263		$	595,434			$	450,387

Contract operations revenue	$	286,466		$	245,420			$	213,022		$	980,405			$	809,439
Contract operations adjusted gross margin	$	200,245		$	165,610			$	137,062		$	657,353			$	502,691
Contract operations adjusted gross margin percentage		70	%		67		%		64	%		67		%		62		%

Aftermarket services revenue	$	39,950		$	46,741			$	46,571		$	177,186			$	180,898
Aftermarket services adjusted gross margin	$	9,054		$	12,346			$	10,239		$	41,737			$	38,627
Aftermarket services adjusted gross margin percentage		23	%		26		%		22	%		24		%		21		%

Selling, general, and administrative	$	42,234		$	34,059			$	33,007		$	139,121			$	116,639

Net cash provided by operating activities	$	124,338		$	96,900			$	71,719			429,591				310,187
Cash available for dividend⁽¹⁾	$	118,089		$	92,887			$	71,484		$	364,595			$	232,979
Cash available for dividend coverage ⁽²⁾		3.5	x		3.0		x		2.8	x		3.1		x		2.4		x

Adjusted free cash flow ^{(1) (3)}	$	68,945		$	(834,282	)		$	47,385			(730,472	)			77,696
Adjusted free cash flow after dividend ^{(1) (3)}	$	38,255		$	(862,147	)		$	23,195			(840,846	)			(18,100	)

Total available horsepower (at period end) ⁽⁴⁾		4,401			4,418				3,759			4,401				3,759
Total operating horsepower (at period end) ⁽⁵⁾		4,227			4,179				3,607			4,227				3,607
Horsepower utilization spot (at period end) ⁽⁶⁾		96	%		95		%		96	%		96		%		96		%
__________________________________
⁽¹⁾ Management believes adjusted net income, adjusted EBITDA, cash available for dividend, adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
⁽²⁾ Defined as cash available for dividend divided by dividends declared for the period.
⁽³⁾ Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.
⁽⁴⁾ Defined as idle and operating horsepower and includes new compressor units completed by a third-party manufacturer that have been delivered to us.
⁽⁵⁾ Defined as horsepower that is operating under contract and horsepower that is idle but under contract and generating revenue such as standby revenue.
⁽⁶⁾ Defined as total available horsepower divided by total operating horsepower at period end.

Conference Call Details

Archrock will host a conference call on February 25, 2025, to discuss fourth quarter and full year 2024 financial results. The call will begin at 9:00 a.m. Eastern Time.

To listen to the call via a live webcast, please visit Archrock’s website at www.archrock.com. The call will also be available by dialing 1 (800) 715-9871 in the United States or 1 (646) 307-1963 for international calls. The access code is 4749623.

A replay of the webcast will be available on Archrock’s website for 90 days following the event.

Adjusted net income, a non-GAAP measure, is defined as net income (loss) excluding transaction-related costs and debt extinguishment loss adjusted for income taxes. A reconciliation of adjusted net income to net income, the most directly comparable GAAP measure, and a reconciliation of adjusted earnings per share to basic and diluted earnings per common share, the most directly comparable GAAP measure, appear below.

Adjusted EBITDA, a non-GAAP measure, is defined as net income (loss) excluding interest expense, income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items. A reconciliation of adjusted EBITDA to net income, the most directly comparable GAAP measure, and a reconciliation of our full year 2025 adjusted EBITDA guidance to net income appear below.

Adjusted gross margin, a non-GAAP measure, is defined as revenue less cost of sales, exclusive of depreciation and amortization. Adjusted gross margin percentage, a non-GAAP measure, is defined as adjusted gross margin divided by revenue. A reconciliation of adjusted gross margin to net income, the most directly comparable GAAP measure, and a reconciliation of adjusted gross margin percentage to gross margin appear below.

Cash available for dividend, a non-GAAP measure, is defined as net income (loss) excluding interest expense, income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affiliate, restructuring charges, debt extinguishment loss, transaction-related costs, non-cash stock-based compensation expense, amortization of capitalized implementation costs and other items, less maintenance capital expenditures, other capital expenditures, cash taxes and cash interest expense. Reconciliations of cash available for dividend to net income and net cash provided by operating activities, the most directly comparable GAAP measures, and a reconciliation of our full year 2025 cash available for dividend guidance to net income appear below.

Adjusted free cash flow, a non-GAAP measure, is defined as net cash provided by operating activities plus net cash provided by (used in) investing activities. A reconciliation of adjusted free cash flow to net cash provided by operating activities, the most directly comparable GAAP measure, appears below.

Adjusted free cash flow after dividend, a non-GAAP measure, is defined as net cash provided by operating activities plus net cash provided by (used in) investing activities less dividends paid to stockholders. A reconciliation of adjusted free cash flow after dividend to net cash provided by operating activities, the most directly comparable GAAP measure, appears below.

About Archrock

Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is a premier provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how Archrock embodies its purpose, WE POWER A CLEANER AMERICA, visit www.archrock.com.

Forward–Looking Statements

All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Archrock. Forward-looking information includes, but is not limited to statements regarding: guidance or estimates related to Archrock’s results of operations or of financial condition; fundamentals of Archrock’s industry, including the attractiveness of returns and valuation, stability of cash flows, demand dynamics and overall outlook, and Archrock’s ability to realize the benefits thereof; Archrock’s expectations regarding future economic, geopolitical and market conditions and trends; Archrock’s operational and financial strategies, including planned growth, coverage and leverage reduction strategies, Archrock’s ability to successfully effect those strategies, and the expected results therefrom; Archrock’s financial and operational outlook; demand and growth opportunities for Archrock’s services; structural and process improvement initiatives, the expected timing thereof, Archrock’s ability to successfully effect those initiatives and the expected results therefrom; the operational and financial synergies provided by Archrock’s size; statements regarding Archrock’s dividend policy; the expected benefits of the TOPS Acquisition, including its expected accretion and the expected impact on Archrock’s leverage ratio; and plans and objectives of management for future operations.

While Archrock believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: risks related to macroeconomic conditions, including an increase in inflation and trade tensions; pandemics and other public health crises; ongoing international conflicts and tensions; risks related to our operations; competitive pressures; risks of acquisitions to reduce our ability to make distributions to our common stockholders; inability to make acquisitions on economically acceptable terms; risks related to our sustainability initiatives; uncertainty to pay dividends in the future; risks related to a substantial amount of debt and our debt agreements; inability to access the capital and credit markets or borrow on affordable terms to obtain additional capital; inability to fund purchases of additional compression equipment; vulnerability to interest rate increases; erosion of the financial condition of our customers; risks related to the loss of our most significant customers; uncertainty of the renewals for our contract operations service agreements; risks related to losing management or operational personnel; dependence on particular suppliers and vulnerability to product shortages and price increases; information technology and cybersecurity risks; tax-related risks; legal and regulatory risks, including climate-related and environmental, social and governance risks.

These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock’s Annual Report on Form 10-K for the year ended December 31, 2024, Archrock’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and those set forth from time to time in Archrock’s filings with the Securities and Exchange Commission, which are available at www.archrock.com. Except as required by law, Archrock expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE: Archrock, Inc.

For information, contact:

Megan Repine
VP of Investor Relations
281-836-8360
investor.relations@archrock.com


Archrock, Inc.
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)

	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2024			2024			2023			2024			2023
Revenue:
Contract operations	$	286,466		$	245,420		$	213,022		$	980,405		$	809,439
Aftermarket services		39,950			46,741			46,571			177,186			180,898
Total revenue		326,416			292,161			259,593			1,157,591			990,337

Cost of sales, exclusive of depreciation and amortization
Contract operations		86,221			79,810			75,960			323,052			306,748
Aftermarket services		30,896			34,395			36,332			135,449			142,271
Total cost of sales, exclusive of depreciation and amortization		117,117			114,205			112,292			458,501			449,019

Selling, general and administrative		42,234			34,059			33,007			139,121			116,639
Depreciation and amortization		58,129			48,377			42,695			193,194			166,241
Long-lived and other asset impairment		1,203			2,509			3,658			10,681			12,041
Restructuring charges		—			—			221			—			1,775
Debt extinguishment loss		—			3,181			—			3,181			—
Interest expense		38,238			30,179			27,938			123,610			111,488
Transaction-related costs		2,247			9,220			—			13,249			—
Gain on sale of assets, net		(12,712	)		(2,218	)		(2,181	)		(17,887	)		(10,199	)
Other (income) expense, net		1,598			(304	)		(745	)		1,561			1,086
Income before income taxes		78,362			52,953			42,708			232,380			142,247
Provision for income taxes		18,604			15,437			9,706			60,149			37,249
Net income	$	59,758		$	37,516		$	33,002		$	172,231		$	104,998

Basic and diluted net income per common share ⁽¹⁾	$	0.34		$	0.22		$	0.21		$	1.05		$	0.67

Weighted-average common shares outstanding:
Basic		173,451			165,847			153,879			162,037			154,126
Diluted		173,848			166,173			154,177			162,375			154,344
__________________________________
⁽¹⁾ Basic and diluted net income per common share is computed using the two-class method to determine the net income per share for each class of common stock and participating security (restricted stock and stock-settled restricted stock units that have non-forfeitable rights to receive dividends or dividend equivalents) according to dividends declared and participation rights in undistributed earnings. Accordingly, we have excluded net income attributable to participating securities from our calculation of basic and diluted net income per common share.

Archrock, Inc.
Unaudited Supplemental Information
(in thousands, except percentages, per share amounts and ratios)

	Three Months Ended													Year Ended
	December 31,				September 30,				December 31,				December 31,				December 31,
	2024				2024				2023				2024				2023
Revenue:
Contract operations	$	286,466			$	245,420			$	213,022			$	980,405			$	809,439
Aftermarket services		39,950				46,741				46,571				177,186				180,898
Total revenue	$	326,416			$	292,161			$	259,593			$	1,157,591			$	990,337

Adjusted gross margin:
Contract operations	$	200,245			$	165,610			$	137,062			$	657,353			$	502,691
Aftermarket services		9,054				12,346				10,239				41,737				38,627
Total adjusted gross margin ⁽¹⁾	$	209,299			$	177,956			$	147,301			$	699,090			$	541,318

Adjusted gross margin percentage:
Contract operations		70		%		67		%		64		%		67		%		62		%
Aftermarket services		23		%		26		%		22		%		24		%		21		%
Total adjusted gross margin percentage ⁽¹⁾		64		%		61		%		57		%		60		%		55		%

Selling, general and administrative	$	42,234			$	34,059			$	33,007			$	139,121			$	116,639
% of revenue		13		%		12		%		13		%		12		%		12		%

Adjusted EBITDA ⁽¹⁾	$	183,844			$	150,854			$	120,263			$	595,434			$	450,387
% of revenue		56		%		52		%		46		%		51		%		45		%

Capital expenditures	$	97,988			$	70,018			$	36,655			$	359,032			$	298,632
Proceeds from sale of property, plant and equipment and other assets		(43,387	)			(6,654	)			(17,543	)			(67,591	)			(72,206	)
Net capital expenditures	$	54,601			$	63,364			$	19,112			$	291,441			$	226,426

Total available horsepower (at period end) ⁽²⁾		4,401				4,418				3,759				4,401				3,759
Total operating horsepower (at period end) ⁽³⁾		4,227				4,179				3,607				4,227				3,607
Average operating horsepower		4,205				3,757				3,607				3,794				3,554
Horsepower utilization:
Spot (at period end) ⁽⁴⁾		96		%		95		%		96		%		96		%		96		%
Average ⁽⁴⁾		95		%		95		%		96		%		95		%		95		%

Dividend declared for the period per share	$	0.190			$	0.175			$	0.165			$	0.695			$	0.625
Dividend declared for the period to all stockholders	$	33,487			$	30,656			$	25,913			$	117,861			$	97,857
Cash available for dividend coverage ⁽⁵⁾		3.5		x		3.0		x		2.8		x		3.1		x		2.4		x

Adjusted free cash flow ^{(1) (6)}	$	68,945			$	(834,282	)		$	47,385			$	(730,472	)		$	77,696
Adjusted free cash flow after dividend ⁽¹⁾⁽⁶⁾	$	38,255			$	(862,147	)		$	23,195			$	(840,846	)		$	(18,100	)
__________________________________
⁽¹⁾ Management believes adjusted gross margin, adjusted EBITDA, adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.
⁽²⁾ Defined as idle and operating horsepower and includes new compressor units completed by a third-party manufacturer that have been delivered to us.
⁽³⁾ Defined as horsepower that is operating under contract and horsepower that is idle but under contract and generating revenue such as standby revenue.
⁽⁴⁾ Defined as total available horsepower divided by total operating horsepower at period end (spot) or over time (average).
⁽⁵⁾ Defined as cash available for dividend divided by dividends declared for the period.
⁽⁶⁾ Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.

	December 31,		September 30,		December 31,
	2024		2024		2023
Balance Sheet
Long-term debt ⁽¹⁾	$	2,198,376	$	2,236,131	$	1,584,869
Total equity		1,323,531		1,290,736		871,021
__________________________________
⁽¹⁾ Carrying values are shown net of unamortized premium and deferred financing costs.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Income to Adjusted Net Income and Earnings Per Share to Adjusted Earnings Per Share
(in thousands, except per share amounts)

	Three Months Ended								Year Ended
	December 31,			September 30,			December 31,		December 31,			December 31,
	2024			2024			2023		2024			2023
Net income	$	59,758		$	37,516		$	33,002	$	172,231		$	104,998
Transaction-related costs		2,247			9,220			—		13,249			—
Debt extinguishment loss		—			3,181			—		3,181			—
Tax effect of adjustments ⁽¹⁾		(472	)		(2,604	)		—		(3,450	)		—
Adjusted net income ⁽²⁾	$	61,533		$	47,313		$	33,002	$	185,211		$	104,998

Weighted-average common shares outstanding used in diluted earnings per common share		173,451			166,173			154,401		162,037			154,344

Basic and diluted earnings per common share ⁽³⁾	$	0.34		$	0.22		$	0.21		1.05			0.67
Transaction-related costs per share		0.01			0.06			—		0.08			—
Debt extinguishment loss per share		—			0.02			—		0.02			—
Tax effect of adjustments per share		(0.00	)		(0.02	)		—		(0.02	)		—
Adjusted earnings per share ⁽²⁾	$	0.35		$	0.28		$	0.21	$	1.13		$	0.67
__________________________________
⁽¹⁾ Represents tax effect of transaction-related costs and debt extinguishment loss based on statutory tax rate.
⁽²⁾ Management believes adjusted net income and adjusted earnings per share provides useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review our current period operating performance, comparability measure and performance measure for period-to-period comparisons without burdened earnings and earnings per share for non-recurring transactional costs.
⁽³⁾ Basic and diluted net income per common share is computed using the two-class method to determine the net income per share for each class of common stock and participating security (restricted stock and stock-settled restricted stock units that have non-forfeitable rights to receive dividends or dividend equivalents) according to dividends declared and participation rights in undistributed earnings. Accordingly, we have excluded net income attributable to participating securities from our calculation of basic and diluted net income per common share.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Income to Adjusted EBITDA and Adjusted Gross Margin
(in thousands)

	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2024			2024			2023			2024			2023
Net income	$	59,758		$	37,516		$	33,002		$	172,231		$	104,998
Depreciation and amortization		58,129			48,377			42,695			193,194			166,241
Long-lived and other asset impairment		1,203			2,509			3,658			10,681			12,041
Unrealized change in fair value of investment in unconsolidated affiliate		1,484			—			(1,023	)		1,484			973
Restructuring charges		—						221			—			1,775
Debt extinguishment loss		—			3,181			—			3,181			—
Interest expense		38,238			30,179			27,938			123,610			111,488
Transaction-related costs		2,247			9,220			—			13,249			—
Stock-based compensation expense		3,431			3,738			3,283			14,646			12,998
Amortization of capitalized implementation costs		750			697			783			3,009			2,624
Provision for income taxes		18,604			15,437			9,706			60,149			37,249
Adjusted EBITDA ⁽¹⁾		183,844			150,854			120,263			595,434			450,387
Selling, general and administrative		42,234			34,059			33,007			139,121			116,639
Stock-based compensation expense		(3,431	)		(3,738	)		(3,283	)		(14,646	)		(12,998	)
Amortization of capitalized implementation costs		(750	)		(697	)		(783	)		(3,009	)		(2,624	)
Gain on sale of assets, net		(12,712	)		(2,218	)		(2,181	)		(17,887	)		(10,199	)
Other (income) expense, net		1,598			(304	)		(745	)		1,561			1,086
Adjusted gross margin ⁽¹⁾	$	209,299		$	177,956		$	147,301		$	699,090		$	541,318
__________________________________
⁽¹⁾ Management believes adjusted EBITDA and adjusted gross margin provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Total Revenue to Adjusted Gross Margin
(in thousands)

	Three Months Ended															Year Ended
	December 31,					September 30,					December 31,					December 31,					December 31,
	2024					2024					2023					2024					2023
Total revenues	$	326,416				$	292,161				$	259,593				$	1,157,591				$	990,337
Cost of sales, exclusive of depreciation and amortization		(117,117	)				(114,205	)				(112,292	)				(458,501	)				(449,019	)
Depreciation and amortization		(58,129	)				(48,377	)				(42,695	)				(193,194	)				(166,241	)
Gross margin		151,170		46	%		129,579		44	%		104,606		40	%		505,896		44	%		375,077		38	%
Depreciation and amortization		58,129					48,377					42,695					193,194					166,241
Adjusted gross margin ⁽¹⁾	$	209,299		64	%	$	177,956		61	%	$	147,301		57	%	$	699,090		60	%		541,318		55	%
__________________________________
⁽¹⁾ Management believes adjusted gross margin provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend
(in thousands)

	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2024			2024			2023			2024			2023
Net income	$	59,758		$	37,516		$	33,002		$	172,231		$	104,998
Depreciation and amortization		58,129			48,377			42,695			193,194			166,241
Long-lived and other asset impairment		1,203			2,509			3,658			10,681			12,041
Unrealized change in fair value of investment in unconsolidated affiliate		1,484			—			(1,023	)		1,484			973
Restructuring charges		—			—			221			—			1,775
Debt extinguishment loss		—			3,181			—			3,181			—
Interest expense		38,238			30,179			27,938			123,610			111,488
Transaction-related costs		2,247			9,220			—			13,249
Stock-based compensation expense		3,431			3,738			3,283			14,646			12,998
Amortization of capitalized implementation costs		750			697			783			3,009			2,624
Provision for income taxes		18,604			15,437			9,706			60,149			37,249
Adjusted EBITDA ⁽¹⁾		183,844			150,854			120,263			595,434			450,387
Less: Maintenance capital expenditures		(21,623	)		(21,190	)		(18,156	)		(87,753	)		(92,168	)
Less: Other capital expenditures		(7,023	)		(6,945	)		(3,193	)		(20,333	)		(16,164	)
Less: Cash tax (payment) refund		134			(404	)		(120	)		(2,209	)		(1,311	)
Less: Cash interest expense		(37,243	)		(29,428	)		(27,310	)		(120,544	)		(107,765	)
Cash available for dividend ⁽²⁾	$	118,089		$	92,887		$	71,484		$	364,595		$	232,979
__________________________________
⁽¹⁾ Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
⁽²⁾ Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Cash Provided by Operating Activities to Cash Available for Dividend
(in thousands)

	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2024			2024			2023			2024			2023
Net cash provided by operating activities	$	124,338		$	96,900		$	71,719		$	429,591		$	310,187
Inventory write-downs		18			(51	)		(164	)		(550	)		(545	)
Provision for credit losses		(286	)		(90	)		(458	)		(381	)		(224	)
Gain on sale of assets, net		12,712			2,218			2,181			17,887			10,199
Current income tax (benefit) provision		997			(146	)		459			2,059			1,591
Cash tax (payment) refund		134			(404	)		(120	)		(2,209	)		(1,311	)
Amortization of operating lease ROU assets		(1,063	)		(962	)		(831	)		(3,852	)		(3,319	)
Amortization of contract costs		(6,106	)		(6,046	)		(5,653	)		(23,877	)		(21,289	)
Deferred revenue recognized in earnings		5,294			4,101			5,421			15,001			16,464
Cash restructuring charges		—			—			211			—			1,554
Transaction-related costs		2,247			9,220			—			13,249			—
Changes in assets and liabilities		8,450			16,282			20,068			25,763			28,004
Maintenance capital expenditures		(21,623	)		(21,190	)		(18,156	)		(87,753	)		(92,168	)
Other capital expenditures		(7,023	)		(6,945	)		(3,193	)		(20,333	)		(16,164	)
Cash available for dividend ⁽¹⁾	$	118,089		$	92,887		$	71,484		$	364,595		$	232,979
__________________________________
⁽¹⁾ Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Cash Provided By Operating Activities to Adjusted Free Cash Flow
and Adjusted Free Cash Flow After Dividend
(in thousands)

	Three Months Ended									Year Ended
	December 31,			September 30,			December 31,			December 31,			December 31,
	2024			2024			2023			2024			2023
Net cash provided by operating activities	$	124,338		$	96,900		$	71,719		$	429,591		$	310,187
Net cash used in investing activities ⁽¹⁾		(55,393	)		(931,182	)		(24,334	)		(1,160,063	)		(232,491	)
Adjusted free cash flow ^{(1) (2)}		68,945			(834,282	)		47,385			(730,472	)		77,696
Dividends paid to stockholders		(30,690	)		(27,865	)		(24,190	)		(110,374	)		(95,796	)
Adjusted free cash flow after dividend ^{(1) (2)}	$	38,255		$	(862,147	)	$	23,195		$	(840,846	)	$	(18,100	)
__________________________________
⁽¹⁾ Reflects $866.2 million cash paid in TOPS Acquisition, net of cash acquired.
⁽²⁾ Management believes adjusted free cash flow and adjusted free cash flow after dividend provide useful information to investors because these non-GAAP measures, when viewed with our GAAP results and accompanying reconciliations, provide a more complete understanding of our performance than GAAP results alone. Management uses these non-GAAP measures as supplemental measures to review current period operating performance, comparability measures and performance measures for period-to-period comparisons.

Archrock, Inc.
Unaudited Supplemental Information
Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend Guidance
(in thousands)

	Annual Guidance Range
	2025
	Low			High
Net income ⁽¹⁾	$	253,000		$	293,000
Interest expense		153,000			153,000
Provision for income taxes		101,000			101,000
Depreciation and amortization		219,000			219,000
Stock-based compensation expense		15,000			15,000
Amortization of capitalized implementation costs		4,000			4,000
Transaction-related costs ⁽²⁾		5,000			5,000
Adjusted EBITDA ⁽³⁾		750,000			790,000
Less: Maintenance capital expenditures		(105,000	)		(115,000	)
Less: Other capital expenditures		(35,000	)		(50,000	)
Less: Cash tax expense		(7,000	)		(7,000	)
Less: Cash interest expense		(147,000	)		(147,000	)
Cash available for dividend ⁽⁴⁾⁽⁵⁾	$	456,000		$	471,000
__________________________________
⁽¹⁾ 2025 annual guidance for net income does not include the impact of long-lived and other asset impairment because due to its nature, it cannot be accurately forecasted. Long-lived and other asset impairment does not impact Adjusted EBITDA or cash available for dividend, however it is a reconciling item between these measures and net income. Long-lived and other asset impairment for the years 2024 and 2023 was $10.7 million and $12.0 million, respectively.
⁽²⁾ Reflects an estimate of expenses to be incurred related to the TOPS acquisition.
⁽³⁾ Management believes adjusted EBITDA provides useful information to investors because this non-GAAP measure, when viewed with our GAAP results and accompanying reconciliations, provides a more complete understanding of our performance than GAAP results alone. Management uses this non-GAAP measure as a supplemental measure to review current period operating performance, comparability measure and performance measure for period-to-period comparisons.
⁽⁴⁾ Management uses cash available for dividend as a supplemental performance measure to compute the coverage ratio of estimated cash flows to planned dividends.
⁽⁵⁾ A forward-looking estimate of cash provided by operating activities is not provided because certain items necessary to estimate cash provided by operating activities, including changes in assets and liabilities, are not estimable at this time. Changes in assets and liabilities were $(25.8) million and $(28.0) million for the years 2024 and 2023, respectively.

The MIL Network –

February 25, 2025

MIL-OSI USA: Barrasso, Lummis Join Colleagues in Urging ATF to Rescind Biden’s Anti-2A Rules
US Senate News:
Source: United States Senator for Wyoming John Barrasso

WASHINGTON, D.C. – U.S. Senator John Barrasso, Senate Majority Whip, and U.S. Senator Cynthia Lummis, both R-Wyo., joined U.S. Senator John Cornyn (R-Texas) and their Republican colleagues in sending a letter to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) urging the agency to align with President Trump’s Second Amendment priorities laid out in his recent Executive Order.

The letter also urged ATF Deputy Director Marvin Richardson to identify and rescind former President Biden’s unlawful firearm regulations, including the “Engaged in the Business” rule, pistol brace rule, so-called “ghost gun” rule, and “zero tolerance” policy under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.

“On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights. We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment,” the senators wrote.

“Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies.”

Co-signers of this letter include Senate Majority Leader John Thune (R-S.D.) and U.S. Senators Thom Tillis (R-N.C.), Cindy Hyde-Smith (R-Miss.), Shelley Moore Capito (R-W.Va.), Jim Justice (R-W.Va.), Jim Risch (R-Idaho), Steve Daines (R-Mont.), Ted Cruz (R-Texas), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), James Lankford (R-Okla.), John Hoeven (R-N.D.), Roger Marshall (R-Kan.), Rick Scott (R-Fla.), Lindsey Graham (R-S.C.), Ted Budd (R-N.C.), Bill Hagerty (R-Tenn.), Tim Sheehy (R-Mont.), Pete Ricketts (R-Neb.), Bill Cassidy (R-La.), Joni Ernst (R-Iowa), Marsha Blackburn (R-Tenn.), Todd Young (R-Ind.), Markwayne Mullin (R-Okla.), Deb Fischer (R-Neb.), Jim Banks (R-Ind.), and Jerry Moran (R-Kan.).

Full text of the letter can be found here.

Dear Deputy Director Richardson:

Thank you for your service in leading the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) during the presidential transition. On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights. We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.

Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies. In particular, we call your attention to the following anti-Second Amendment regulations and policies, which must be immediately rescinded:
- The engaged in the business rule, which is an unconstitutional attempt to move ATF to do all it can to impose universal background checks on law-abiding Americans. ATF has been enjoined, at least temporarily, from enforcing the rule because it violated the text of the Gun Control Act.
- The pistol brace rule, which improperly reclassifies pistols equipped with stabilizing braces as “short-barreled rifles” (SBRs), thereby subjecting them to stringent regulations and serious criminal penalties under the National Firearms Act and the Gun Control Act. We are troubled by the fact that ATF promulgated this rule after it previously determined that attaching a stabilizing brace to a pistol did not render the pistol an SBR. This rule threatens to put stabilizing braces out of reach of millions of gun owners, including disabled combat veterans who rely on them to be able to shoot heavy pistols. Furthermore, the rule made law-abiding Americans felons overnight for having lawfully purchased stabilizing brace equipped pistols. Multiple courts have already found the rule to be arbitrary and capricious under the Administrative Procedure Act, and it was ordered vacated by the U.S. District Court for the Northern District of Texas. We appreciate the Government’s recent motions to hold ATF’s 5th and 11th Circuit appeals defending the rule in abeyance and to postpone oral argument, and ATF should work quickly to accede to the vacatur given the ongoing litigation.
- The so-called “ghost gun” rule, which cracks down on law-abiding hobbyists who are exercising their Second Amendment rights to privately build firearms—a longstanding tradition that traces back to the Colonial Era. The regulations are currently before the Supreme Court, but ATF should act immediately to rescind this rule.
- The “zero tolerance” policy, under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations. This policy violates a decades-long precedent of ATF working with FFLs to address these minor, unintentional violations and revoking FFL licenses only in cases of major, willful violations that threaten public safety. ATF should develop a program to restore the federal firearms licenses of those FFLs whose licenses were unfairly revoked—or surrendered under duress—where they did not engage in willful conduct (as understood prior to June 23, 2021, when the policy was announced) and do not represent at threat to public safety.
In addition to promptly rescinding these rules and policies, we urge you to immediately destroy the hundreds of millions of ATF Form 4473 firearm transaction records and other licensee records that are over 20 years old. These records have no particular law enforcement value but do contain the sensitive information of millions of law-abiding gun owners. ATF should likewise return to the policy of allowing FFLs to destroy Form 4473 in their possession that are over 20 years old, which the Biden Administration initiated in violation of the federal prohibition on gun registration. Ending the policy of retaining these very old records will save money for the American taxpayer and counteract ATF’s unconstitutional rule change.

Furthermore, we urge you to “continue collaboration to improve the process for” National Firearms Act applications. Congress recently instructed ATF to make these improvements. While NFA wait times have improved significantly, ATF must continue to “address ongoing delays in application processing times” until the archaic process is at least as efficient as the National Instant Criminal Background Check System. There is no reason that the right to purchase a firearm should be so greatly delayed; a right delayed is a right denied.

The foregoing should not be considered a full accounting of every action or policy for which ATF may be held responsible under President Trump’s Executive Order but represent obvious and high priority places for ATF to initiate compliance.

We look forward to working with you through the transition as you implement President Trump’s agenda and reorient ATF toward protecting Americans’ Second Amendment rights.
MIL OSI USA News –
February 25, 2025
MIL-OSI Australia: Samstag explores the chaos of communication to open its 2025 exhibition program

Source: University of South Australia

25 February 2025

Chunxiao Qu, An artist doesn’t need a label (Biannual Façade Commission), 2004, Borchardt Library, La Trobe University, Bundoora. La Trobe Art Institute, La Trobe University. Photograph by AJ Taylor. Image courtesy the artist.

The absurdity of contemporary communication will be on display at the University of South Australia’s Samstag Museum of Art, delivering an insightful and humorous take on how humans are easily misunderstood between the translation of what is said and what is heard.

Direct, Directed, Directly will kickstart Samstag’s 2025 program for the Parnati season (Parnati meaning autumn in Kaurna culture) from Friday 28 February, coinciding with the launch of the Adelaide Festival.

Installed across the two levels of the art museum, the exhibition is one of many in Samstag’s annually curated program of innovative and experimental contemporary art from SA and around the world.

Direct, Directed, Directly explores communication – speaking directly, speaking indirectly, looking for meaning (and not finding it), double meanings and breakdowns.

Featuring performances, moving images and sounds created by national and international artists, the installation dives into the difficulties between what is said and what is heard. This group exhibition suggests that amid frustration, futility and misunderstanding, there is catharsis to be found in the humour and absurdity of our attempts to connect.

Director of Samstag Museum of Art Erica Green says the year ahead for Samstag will be a celebration of innovative and thought-provoking contemporary arts practice.

“Delving into a diverse range of themes – from the absurdity of contemporary communication to the formal qualities of light and movement – our 2025 program will deliver a year of surprising and insightful visual art experiences for everyone to enjoy,” she says.

Parnati season
Friday 28 February to Friday 30 May
2025 Adelaide Festival
Direct, Directed, Directly
Artists: Richard Bell (Kamilaroi, Kooma, Jiman and Gurang Gurang), Madison Bycroft, Kuba Dorabialski, Danielle Freakley, Christine Sun Kim and Thomas Mader, Monte Masi and Chunxiao Qu.

Kudlila season
20 June to 26 September
Frank Bauer
Samstag’s Kudlila Season, Kudlila meaning winter in Kaurna culture, will begin in June with works by Adelaide-based designer, jeweller, silversmith and artist Frank Bauer. Over a career spanning 45 years, the German-born artist’s cross-disciplinary practice is hallmarked by exceptional quality and a breadth of skill. His process begins with the hand – first drawing then progressing to handling, touching, making in his workshop – and results in works that bear human nature first and foremost in mind. A former lecturer at SACAE, an antecedent of the University of South Australia, who has exhibited in Europe and Australia, his work is held in major museums around the world.

Caption Frank Bauer, Flag pole, detail, 2024. Photograph by Sia Duff.

North Terrace: worlds in relief
Artists: Andrew Burrell, Allison Chhorn, Louise Haselton, the ArcHitects (Gary Carsley and Renjie Teoh), with poetry by Natalie Harkin (Narungga).
As the city’s cultural boulevard, North Terrace is emblematic of Tarntanya/Adelaide’s founding on Kaurna Yarta and the conduct of colonial relations today. In this suite of new works, curated by guest curator Jasmin Stephens, artists from Adelaide, NSW and Singapore respond to the city’s environs and the world views that they convey. The exhibition begins with Narungga poet/activist Natalie Harkin’s text Cultural Precinct, first published in 2016. The artists cast a critical eye over North Terrace’s familiar and lesser-known aspects. Invoking histories of sculpture, moving image and design, the exhibition draws on the collection of UniSA’s Architecture Museum.

Wirltuti Season
16 October to 5 December
Sean Cordeiro and Claire Healy: Psychopomp
NSW-based artistic duo and Samstag scholars (2006) Sean Cordeiro and Claire Healy will premiere their vibrant moving image work Psychopomp alongside a selection of past works for Samstag’s Wirltuti season in 2025 (Wirltuti meaning ‘spring’ in Kaurna culture). Psychopomp is the outcome of the 2024 UniSA Jeffrey Smart Commission. This vibrant moving image work explores the porous relationship between science and mysticism, and rocket technology and spirituality. From NASA’s Apollo, Mercury and Gemini mission names, which are directly inspired by the gods of antiquity, to pioneer rocket scientist Jack Parson’s conversion to Aleister Crowley’s Church of Thelema, Cordeiro and Healy identify a strong spiritual thread in the history of rocket and space exploration. Melding the significant historical text, the poem Hymn to Pan, with footage of farming fertility festivals in Thailand and Laos, Psychopomp explores the expressive potential of motion, technology and pagan rituals.

5 STEPS FOR BETTER LIVING, MAXIMUM GAINS AND MANIFESTING YOUR MOST OPTIMISED SELF!!
Adelaide Film Festival Expand Moving Image Commission
Artists: Nisa East, Anna Lindner and Yasemin Sabuncu.
5 STEPS… originates from the 2023 AFF EXPAND Lab, a development initiative bringing together filmmakers, artists and screen-based practitioners to develop collaborative approaches to making moving images. 5 STEPS… offers a satirical, critical reflection on the trends of commodified, masculine ‘wellness’ in times of existential crisis. The multi-channel installation draws on experimental performance, surrealism and dark humour to examine the way wellness subcultures can be used to promote self-centred ideas of freedom and success. A series of compelling character studies of the ‘alpha’ personalities and fitness evangelists that populate the manosphere, this work examines the psychological mechanisms of rejecting failure, vulnerability and introspection, and the pursuit of infinite growth at any cost.

Nisa East, Anna Lindner and Yasemin Sabuncu, 5 STEPS FOR BETTER LIVING, MAXIMUM GAINS AND MANIFESTING YOUR MOST OPTIMISED SELF!!, production still 2024. Still courtesy the artists.

Ryan Presley
In 2024, UniSA commissioned Marri Ngarr artist Ryan Presley to paint a portrait of its Chancellor, The Honourable John Hill. To accompany the unveiling of this commission, Samstag will display a selection of works by Presley. Presley’s figurative paintings weave personal and cultural motifs with art historical references. Raised a Catholic, his art practice explores religious iconography, often featuring intricate patterning and human figures set against seductive and lyrical dreamscapes composed of clouds, sand dunes and industrial motifs.

Samstag Museum of Art is located at UniSA’s City West campus, an easy 15-minute walk from the city centre. Free city trams operate daily. Samstag is open Tuesday to Saturday 10am to 5pm. Visit the website for more information.

…………………………………………………………………………………

Media contact: Erica Green, Director Samstag Museum of Art M: +438 821 239 E: erica.green@unisa.edu.au

MIL OSI News –

February 25, 2025
MIL-OSI USA: SCHUYLKILL COUNTY – Governor Shapiro to Visit Child Care Center to Highlight Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services

Source: US State of Pennsylvania

February 25, 2025 – Pottsville, PA

ADVISORY – SCHUYLKILL COUNTY – Governor Shapiro to Visit Child Care Center to Highlight Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services

Governor Josh Shapiro will visit The Perception Training Center to talk about the major investments in workforce development in his 2025-26 Budget Proposal and his plans for expanding Pennsylvania’s child care workforce and making child care more affordable.

During his first two years in office, Governor Shapiro signed into law a historic expansion of the Child and Dependent Care Enhancement Tax Credit and created a new tax credit for businesses who want to contribute to their employees’ child care costs. Those two initiatives helped make child care more affordable – and the Governor’s proposal this year would make child care more available through an investment of $55 million to support child care workforce recruitment and retention grants.

WHO:
Governor Josh Shapiro
Senator David Argall
Representative Tim Twardzik
Michelle Dallago, Owner and Executive Director of Perception Early Learning, Inc.
Bob Carl, President and CEO of the Schuylkill Chamber of Commerce
Meridith Driscoll, Parent

WHEN:
TOMORROW, Tuesday, February 25, 2025 at 10:15AM

WHERE:
The Perception Training Center, Inc.
1265 Laurel Boulevard,
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RSVP:
Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

MIL OSI USA News –

February 25, 2025
MIL-OSI: SECU Foundation Awards $2 Million Grant to Support Expansion of the North Carolina Aquarium at Fort Fisher

Source: GlobeNewswire (MIL-OSI)

KURE BEACH, N.C., Feb. 24, 2025 (GLOBE NEWSWIRE) — SECU Foundation has awarded a $2 million capital grant to the North Carolina Aquarium Society, contributing to the expansion of the North Carolina Aquarium at Fort Fisher (NCAFF). The development project will increase the interactive space at the state’s most visited aquarium and include a new education center to serve North Carolina students.

Operated under the North Carolina Department of Natural and Cultural Resources, the North Carolina Aquariums include three aquariums and Jennette’s Pier. They welcome more than 1.4 million visitors annually. About 500,000 of those guests visit NCAFF, including tens of thousands of students, who visit on field trips. Through engaging and immersive educational activities, the Aquariums foster a deeper understanding and connection to aquatic environments with the hope that visitors are inspired to protect them.

“We are so pleased to be a part of the expansion of the North Carolina Aquarium at Fort Fisher,” said SECU Foundation Board Vice Chair Mona Moon. “With the SECU Foundation grant and the support of many others in the community, improvements made to this landmark Aquarium will propel it to a world-class facility for our state. With a new education center and other exciting additions to be announced later this year, even more visitors from all corners of our state and beyond can engage with our coastal ecosystems and aquatic environments.”

“On behalf of the North Carolina Aquarium Society, we are immensely grateful for this generous grant from the SECU Foundation,” said Society Board Chair Drew Covert. “Among other exciting renovation plans, this grant will fund the creation of a new educational center – one that extends beyond the Aquarium walls to provide truly immersive experiences for students in North Carolina who need it most.”

“We are honored to have the ongoing support of the North Carolina Aquarium Society and their important collaborative work with partners like the SECU Foundation to bolster the North Carolina Aquariums,” said North Carolina Aquarium Division Director Hap Fatzinger. “The North Carolina Aquarium at Fort Fisher renovation and expansion is the most consequential project since the creation of the marine resource centers nearly 50 years ago. We are excited for what’s ahead and the lasting impact this will have on our state.”

About SECU and SECU Foundation
A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $53 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $300 million for initiatives to benefit North Carolinians statewide.

About North Carolina Aquarium Society
The North Carolina Aquarium Society is a nonprofit (501c3) organization dedicated to supporting the North Carolina Aquariums through private fundraising, membership, and revenue generation. Established in 1986, the Society partners with the Aquariums to enhance exhibits, animal care, education programs, and conservation initiatives beyond what state funding provides.

Holding the check left to right are SECU Foundation Board Vice Chair Mona Moon, North Carolina Aquarium Society President and CEO Liz Baird, and NCAFF Director Joanna Zazzali, surrounded by SECU Foundation, SECU, and NCAFF employees and board members from the North Carolina Aquarium Society.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f1db278-c292-4ef0-aae9-88c8b6f1a46e

The MIL Network –

February 25, 2025
MIL-OSI USA: 02.24.2025 Sens. Cruz, Cornyn, Schumer, Gillibrand Reintroduce Border Airport Fairness Act

US Senate News:

Source: United States Senator for Texas Ted Cruz
WASHINGTON, D.C. – Today, U.S. Senate Commerce Committee Chairman Ted Cruz (R-Texas), Sen. John Cornyn (R-Texas), Senate Minority Leader Chuck Schumer (D-N.Y.), and Sen. Kirsten Gillibrand (D-N.Y.) introduced the Border Airport Fairness Act, legislation that would designate user fee airports within 30 miles of a land border as a port of entry (POE) and eliminate duplicative government fees.
Upon introduction of the Border Airport Fairness Act, Sen. Cruz said, “Congress needs to take advantage of every opportunity to improve efficiency in logistics and travel in the United States. By giving our border airports the designation they deserve, we will put them on the same footing as all the other similarly situated primary commercial service airports. This will boost commerce in the Rio Grande Valley and upstate New York and reduce repetitive costs that affect both airports and travelers. As Commerce Committee Chairman, I look forward to working with my colleagues to get this important legislation enacted.”
Sen. Cornyn said, “Right now, airports in Harlingen, Texas, and Plattsburgh, New York, have to pay to hire U.S. Customs and Border Protection agents despite their close proximity to the border, resulting in higher costs for both the airports and travelers. This legislation would designate these airports as official ports of entry, requiring CBP to provide agents.”
Sen. Gillibrand said, “This is a commonsense, bipartisan bill that will designate Plattsburgh International Airport as a port of entry. This change will save the airport hundreds of thousands of dollars each year – money that the airport will then be able to spend on infrastructure upgrades and passenger experience improvements. I’m proud to be introducing this bill and look forward to getting it passed.”
Read the full text of the bill here.
BACKGROUND
Currently, user fee airports like the Valley International Airport (VIA) in Harlingen, Texas, and Plattsburgh International Airport (PBG) are the only two Primary Commercial Service airports in close proximity to a U.S. border land crossing that are not ports of entry and are not international or landing rights airports. This designation means that these airports must pay potentially hundreds of thousands of dollars to staff the airport with Customs and Border Protection (CBP) agents. While these existing airports, and other potential future airports, qualify as ports of entry under the CBP’s criteria through their association with the nearest land border crossing, they have not received this designation—resulting in increased costs for these airports and travelers who fly in and out of these airports.
Sen. Cruz, Cornyn, and Gillibrand previously introduced this legislation during the 118th Congress and Sen. Cruz introduced this legislation during the 117th Congress.

MIL OSI USA News –

February 25, 2025
MIL-OSI USA: Fischer Announces Commerce Subcommittee Assignments & Chairmanship

US Senate News:

Source: United States Senator for Nebraska Deb Fischer
Today, U.S. Senator Deb Fischer (R-Neb.) released her subcommittee assignments for the Senate Committee on Commerce, Science, and Transportation in the 119th Congress:
Chair, Subcommittee on Telecommunications and Media
Member, Subcommittee on Surface Transportation, Freight, Pipelines, and Safety
Member, Subcommittee on Consumer Protection, Technology, and Data Privacy
“Nebraska’s communities rely on connectivity—in both transportation and telecommunications—to thrive. This is especially true in our rural communities, which are too often neglected in policy conversations. I look forward to continuing my work on the Commerce Committee this Congress where I will advocate for Nebraskans’ needs, especially as Chair of the Subcommittee on Telecommunications and Media,” said Senator Fischer.The Subcommittee on Telecommunications and Media has broad jurisdiction over communications matters, including telephone, internet, satellite, broadcast, wireline and wireless broadband, spectrum management, and public safety communications. In the 119th Congress, Senator Fischer will lead the subcommittee’s efforts to keep Americans connected along with Ranking Member Ben Ray Luján (D-NM).

MIL OSI USA News –

February 25, 2025
MIL-OSI New Zealand: Chinese live fire: a wake-up call for NZ’s investment priorities

Source: ACT Party

“Chinese war ships engaging in live fire in the Tasman Sea ought to be a wake-up call for our investment priorities,” says ACT Defence spokesperson Mark Cameron.

“We have been taking the so-called benign strategic environment for granted, but the rule of history is that big fish eat the little fish. New Zealand needs to wake up, get together with its mates, and up our defensive capability – fast.

“Lifting investment in Defence is a matter of security, but also of prosperity. Our fisheries, sea mining, trade routes, and Exclusive Economic Zone hold untold economic value, and any serious strategy to grow the economy will rely on our continued control of these assets.

“Prior to the election, ACT campaigned on increasing defence spending to 1.5% of GDP, or $4.35 billion over four years, with a long-term target of reaching 2% by 2030.

“Australia’s defence spending has already surged above 2%, heading to 2.4% by the end of the decade. We need to do our part and work with our friends to effectively direct our investment, so that we can be taken seriously as an ally worth defending.

“Crucially, ACT is open to debate around tough trade-offs in spending and investment to make a Defence boost possible.

“This morning, the New Zealand Initiative released a report valuing the government’s existing assets at $571 billion. It raises some interesting questions. Does it make more sense for the government to own a television station, or a P8 Poseidon? Should we keep a 51% share in a power company, or get our hands on some more frigates?

“ACT would argue it’s time to pull money out of the nice-to-haves, and invest in the men and women who protect our livelihoods.”

MIL OSI New Zealand News –

February 25, 2025
MIL-OSI New Zealand: Results – Port Marlborough reports strong half year performance for 2025

Source: Port Marlborough

Port Marlborough has filed its Half Year Report for the first half of the 2025 financial year, highlighting positive progress across its key focus areas: people, planet, prosperity, and partnerships.

The port continues to invest in workforce capability, with new marine cadetships, internal promotions, and leadership development programmes supporting career progression and workplace culture. Critical risk and fatigue risk management measures have been implemented, and the port’s strong focus on the Hauora (Health, Safety and Wellbeing) of all people in its workplaces remains a priority.

Environmental progress has also been a standout, with Marlborough Sounds Marinas becoming the first in New Zealand to achieve International Clean Marina accreditation, recognising high standards in marine biosecurity and environmental management. Across operations, 82% of waste has been diverted from landfill, and habitat restoration efforts continue, with thousands of native plants established in key areas.

Revenue has increased by 13% compared to the same period last year, driven by strong trade performance and increased uptake of berthage at Waikawa North West Marina. Forestry trade has grown by 18%, supported by the completion of the South Island’s first on-port debarking facility, in partnership with Pedersen Group and C3.

Port Marlborough Chief Executive Rhys Welbourn said the results reflect the company’s focus on sustainable growth and long-term investment.

“These results show the benefits of our continued investment in infrastructure, environmental initiatives, and workforce capability. We are seeing strong performance across key trade areas, our marinas remain in high demand, and our sustainability initiatives are delivering measurable outcomes. The International Clean Marina accreditation is a milestone achievement and highlights how seriously we take the importance of marine biosecurity across our operations.

“As we move into the second half of the financial year, we remain committed to delivering value for Marlborough, supporting and facilitating Marlborough’s key trades, and ensuring that our investment decisions contribute to the long-term success of the region.”

Port Marlborough’s partnerships with industry, iwi, and regional stakeholders remain a key focus, including hosting the launch of the Protect Our Paradise national biosecurity campaign and delivering community sponsorships that support local initiatives.The 2025 Half Year Report can be found here: LINK: https://portmarlborough.co.nz/strong-half-year-performance-for-2025/

MIL OSI New Zealand News –

February 25, 2025
MIL-OSI New Zealand: Business Appointments – Raine & Horne beefs up executive team in New Zealand with the appointment of James Shepherd
Source: Raine & Horne

Highlights

Raine & Horne appoints James Shepherd as Supervision and Compliance Manager for New Zealand, bringing almost 16 years of industry experience to support the super brand’s rapid expansion.

Mr Shepherd is excited about the company’s growth in New Zealand and is eager to unlock further potential and streamline processes for improved sales and compliance.

Looking ahead for 2025, Mr Shepherd predicts steady market conditions across New Zealand, offering opportunities for savvy buyers and vendors, particularly for downsizing.

Christchurch, NZ (25 February 2025) One of Australasia’s fastest-growing real estate networks Raine & Horne has scored a major executive coup with Mr James Shepherd’s appointment as Supervision and Compliance Manager for New Zealand.

Mr Shepherd, who began his real estate career in 2009 after transitioning from the machinery and construction sector, has almost 16 years of experience working with two major real estate networks.

Besides his compliance role, Mr Shepherd will also assume general management responsibilities for the rapidly growing brand. Raine & Horne has quickly grown its footprint in New Zealand, with over 70 offices since launching in April 2023.

Mr Angus Raine, Executive Chairman of Raine & Horne, is thrilled to welcome Mr Shepherd to the team. He believes his extensive background in office ownership, management, and sales will be invaluable.

“James is a major asset for our business as we expand across New Zealand. He has a strong background in office ownership and management, sales management, and a wealth of recent sales experience in the Christchurch region,” said Mr Raine.

“With his extensive background, he will be responsible for supporting our existing offices and sales agents and helping to grow the office network. His role will, of course, also strongly focus on our compliance framework.”

Amplifying rapid growth for Raine & Horne’s offices, sales agents and brand

Mr Shepherd said he is excited to join Raine & Horne at this point in its growth curve in New Zealand.

“The impressive growth the brand has experienced over the past 18 months, particularly after the acquisitions in 2024, shows a strong upward trajectory,” he said.

“Our new offices want to grow their businesses and are embracing Raine & Horne’s systems and processes, and there’s massive potential for them to expand. I’m excited that I’ll be helping them to unlock this potential.”

Mr Shepherd noted that one exciting opportunity for real estate businesses in New Zealand is the chance to streamline administrative processes and navigate complex regulations more efficiently.

“With my deep understanding of compliance issues, I’m confident I can help streamline the process and free up salespeople to focus on what matters – selling their vendor’s properties.”

Having worked with two of New Zealand’s major real estate brands, Mr Shepherd is excited to be part of a company pushing beyond the status quo.

“Raine & Horne’s unique edge is our advanced technology, and I am eager to drive awareness of our ecosystem of technology firsts throughout New Zealand, particularly the first-to-market AI-powered social media marketing platform, Amplify.”

Mr Shepherd also sees tremendous potential for Raine & Horne’s rural real estate division in New Zealand, drawing from his extensive rural background in farming before his stint in construction.

“New Zealand has a deep connection to rural life, so I see excellent opportunities for Raine & Horne Rural in New Zealand,” he said.

Steady market conditions expected in 2025

Looking ahead to the remainder of 2025, Mr Shepherd believes vendors and buyers can expect a steady year. “While there are still some economic challenges to navigate, I expect the residential property market to remain steady and gradually build momentum.

“It won’t be a year for price surges, but this also means 2025 will be an excellent year for those ready to make moves,” he adds.

“If you’ve got your finances in order, 2025 could be the year to jump in, while conditions remain stable.”

Mr Shepherd also sees a strong opportunity for those considering a move. Despite increased stock levels, the highest seen in a decade, he envisages the potential for better prices in 2025 than the past couple of years.

Finally, Mr Shepherd is excited about the future with Raine & Horne, saying, “I’m thrilled about the opportunities ahead. I’m eager to dive in, visit the offices, meet the teams, and help build the future of this exciting business.”
MIL OSI New Zealand News –
February 25, 2025
MIL-OSI New Zealand: Activist News – Peace diplomacy must lead in addressing Chinese warships in Tasman Sea – PAW

Source: Peace Action Wellington

Over the past five days, a group of Chinese warships has been travelling
in the Tasman Sea and practicing live fire drills. The NZ Navy and Australian Navy have been deployed to keep watch on the ships’ movements and activities.

“Alarm over the deployment of Chinese warships is a deeply hypocritical reaction and represents a double-standard of impressive height.
Moreover, the Prime Minister’s suggestion that weapons spending will go up is opportunistic and in the service of US imperial aims, not NZ security,” said Valerie Morse of Peace Action Wellington.

“The government is behaving hypocritically: US warships invade and occupy spaces across the globe, enforcing US power and dominance, including directly off the coast of China, something the US itself would never abide by on its own seaboard. Yet not only is there no criticism of the US, there is active participation by the NZDF in the US’s imperial war mongering in places like the Red Sea.”

“By the same token, New Zealand has previously hosted Chinese warships in the ports of Auckland and Wellington.”

“No one should be under an illusion any longer that the US represents a force for good in the world or the upholding of international law and norms. The US has declared war on international law and is using its military to enforce US supremacy with missiles. This actively undermines New Zealand security.”

“At the same time, the Chinese state is an authoritarian nightmare with an aggressive plan for military spending and zero regard for human rights. The experiences in Hong Kong and Xinjiang should be evidence for how much respect China has for basic rights and freedoms.”

“This is why the response of the New Zealand government should not be to play into the US’s anti-China rhetoric but instead should be a strong voice for peace, diplomacy and disarmament. It is critically important that New Zealand ends participation in dangerous and counterproductive US military activities including active deployments in the Middle East, space launches, training and through the Five Eyes intelligence agencies. Now is the time for a foreign policy that actually puts people and planet first, not weapons companies and US capitalists.”

MIL OSI New Zealand News –

February 25, 2025
MIL-OSI USA: SBA Administrator Loeffler Issues Memo on Day One Priorities
Source: United States Small Business Administration

WASHINGTON — Following her confirmation and swearing-in as the 28th Administrator of the U.S. Small Business Administration, Kelly Loeffler issued a Day One memo outlining her top priorities for the agency.

“Small businesses are the backbone of our nation, driving innovation, job creation, and prosperity – and there’s no stronger advocate for small business than President Trump or myself. But over the last four years, the SBA has burdened entrepreneurs with bureaucracy – with its programs becoming mired in fraud, waste, and abuse,” SBA Administrator Loeffler said. “That changes today. My first priority is rebuilding the SBA into an America First engine for free enterprise – by empowering small businesses and fueling economic growth.

“From day one, we will uphold the highest standards of accountability, performance, and integrity, where taxpayer dollars will be safeguarded, not squandered. We will streamline operations, drive efficiency, and ensure programs deliver real results. It’s a new day at the SBA, and I’m honored to lead a team that is committed to serving America’s job creators and citizens when disaster strikes.”

The following priorities have been distributed to all SBA staff as the agency prepares to carry out President Trump’s America First agenda and empower small businesses to thrive:

Supporting President Trump’s America First Agenda
1. Promoting “Made in America” with U.S. manufacturing: The vast majority of America’s manufacturers are small businesses, and SBA programs have powered tens of thousands of them. This agency is committed to supporting the America First agenda by rebuilding American supply chains and investing in manufacturing to strengthen our economy and national security. The agency will transform its Office of International Trade into the Office of Manufacturing and Trade – which will focus on promoting economic independence, job creation, and fair trade practices to power the next blue-collar boom. SBA will also partner across agencies to scale innovative manufacturing and technology startups that will help our nation return to “Made in America.”
2. Implementing President Trump’s executive orders: SBA will enforce all of President Trump’s executive orders including Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government, Ending Radical and Wasteful Government DEI Programs and Preferencing and Unleashing American Energy. To date, SBA has already taken the following actions:
  - Eliminated the Office of Diversity, Equity, Inclusion, and Accessibility, placing DEIA employees on administrative leave.
  - Paused grants across the agency that do not comply with President Trump’s executive orders.
  - Paused the Green Lender Initiative to reverse the previous Administration’s favoritism for Green New Deal ventures that did not support America’s return to energy dominance.
3. Supporting the Department of Government Efficiency: SBA will continue working closely with President Trump’s DOGE as the federal government moves into a new era of accountability, transparency, and efficiency. SBA will prioritize eliminating fraud and waste within the agency, to ensure American taxpayer dollars are utilized in the most productive way possible to benefit small businesses and economic growth and resilience.
4. Mandating full-time, in-office work for SBA employees: Pursuant to President Trump’s Return to In-Person Work presidential memorandum, SBA will require all employees, unless exempt, to return to their respective duty stations five days a week as of today, Monday, Feb. 24, 2025.
5. Prioritizing workforce optimization: As part of the broader effort to support President Trump’s workforce optimization initiatives, SBA will continue to evaluate workforce reduction measures, including the overhaul of all advisory boards, to ensure the agency is operating with maximum efficiency to deliver results for U.S. taxpayers, small businesses, and those affected by disaster.
6. Cracking down on fraud: SBA’s loan programs should be a powerful tool for empowering small business formation and delivering critical aid to disaster victims. The prior Administration left these programs with unaddressed fraud – including an estimated $200 billion in pandemic-era fraud. Starting today, the SBA will institute a zero-tolerance policy for fraud and investigate fraud across all programs. The agency has established a Fraud Working Group and will appoint a Fraud Czar to identify, stop, and claw back criminally obtained funds on behalf of American taxpayers – working across agencies to prevent fraud.
Eliminating Wasteful Spending and Cracking Down on Fraud
1. Conducting an agency-wide financial audit: As fraud has risen, so too have delinquencies, defaults, and charge-offs on loan programs, exacerbated by the previous Administration’s lax loan underwriting, servicing, and collection efforts. As a result, SBA has not satisfactorily completed a financial audit for several consecutive years. Therefore, the agency will request an independent audit of its financials to address mismanagement, restore the credibility of financial statements, and preserve the solvency of public-private programs like the 7(a) lending program and the Small Business Investment Company program, which are designed to drive economic growth without taxpayer subsidy.
2. Protecting the solvency of loan programs and restoring underwriting standards: Likewise, SBA will review all options to protect the solvency of its lending programs, including revising practices that have jeopardized the zero-subsidy status of programs like 7(a). The agency will also restart its dormant collections programs effective immediately. Furthermore, SBA will restore its underwriting standards, ensuring taxpayer dollars only go to supporting eligible small businesses across America – by conducting a full review of current lending SOPs, ending the “Do What You Do” standard for lending, and enhancing oversight of non-bank lenders.
3. Banning illegal aliens from receiving SBA assistance: Programs funded by American citizens should only benefit American citizens. Consistent with President Trump’s Ending Taxpayer Subsidization of Open Borders executive order, the agency will implement a policy banning illegal aliens from receiving any taxpayer-funded assistance from SBA – putting U.S. citizens and America first.
4. Restricting hostile foreign nationals from accessing SBA assistance: Similarly, in the interest of national security, the agency will implement measures to prevent hostile foreign nationals, especially those with ties to the Chinese Communist Party, from accessing SBA assistance.
Empowering Small Businesses
1. Creating a strike force to cut regulation: For the first time in years, SBA will fully staff and empower the Office of Advocacy to utilize its power to identify and eliminate burdensome regulations promulgated by all federal agencies, as authorized by the Regulatory Flexibility Act, Small Business Regulatory Enforcement Fairness Act of 1996, the Congressional Review Act, and other statutes. The Administrator will work alongside the Chief Counsel for Advocacy to cut past and future regulations across the board and partner with all federal agencies to ensure they are working to reduce bureaucracy and costs for job creators and promote successful business formation.
2. Improving SBA customer service, technology, and cybersecurity: Respecting that small businesses must perform for their customers, the SBA must meet performance standards across our own operations. Working with DOGE, the SBA will review the agency’s multiple digital interfaces. To streamline and improve user experience across all platforms, the agency will also review its technology for cybersecurity, response times, and customer satisfaction – including by collaborating with the White House on the application of artificial intelligence.
3. Promoting fair competition by returning 8(a) contracting goals to statutory levels: The previous Administration increased the 8(a) federal contracting goal for Small Disadvantaged Businesses to an all-time high of 15%. This action unfairly tipped the scales against any small business that did not qualify as “disadvantaged,” negatively impacting many veteran-owned small businesses. As part of a broader effort to support competition and equal access to federal contracting for all small business owners, SBA has returned the 8(a) SDB contracting goal to its statutory level of 5%.
4. Relocating regional offices out of sanctuary cities: To better serve Main Streets across America, especially in rural areas, SBA will relocate regional offices currently based in sanctuary cities to less costly, more accessible locations in communities that comply with federal immigration law. Additionally, Administrator Loeffler commits to personally visiting SBA’s regional offices and district offices – to facilitate a continuous dialogue with small business owners and hear directly from local job creators about real-world challenges and opportunities to support growth and innovation.
5. Ending partisan voter registration activities: The SBA will end all taxpayer-funded voter registration activities – starting by rescinding the agency’s 2024 Memorandum of Understanding with the Michigan Secretary of State’s office, which forced SBA district offices to conduct partisan voter registration on behalf of the previous Administration. Instead, the agency will return its focus to its founding mission of empowering job creators, delivering disaster relief, and driving economic growth.
# # #

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –
February 25, 2025
MIL-OSI: Parker Scheduled to Present at Raymond James’ 46th Annual Institutional Investors Conference on March 3, 2025 at 11:35 a.m. Eastern Time

Source: GlobeNewswire (MIL-OSI)

CLEVELAND, Feb. 24, 2025 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it is scheduled to present at Raymond James’ 46th Annual Institutional Investors Conference on March 3, 2025 in Orlando, Florida at 11:35 a.m. Eastern time. A live webcast of the presentation will be accessible on Parker’s investor information website at investors.parker.com and will be archived on the site.

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 68 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

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The MIL Network –

February 25, 2025
MIL-OSI Economics: African Development Bank and global public development banks to convene in Cape Town to advance climate resilience

Source: African Development Bank Group

WHAT:   Finance in Common Summit 2025

WHEN:           February 26-28, 2025

WHERE:         Cape Town, South Africa

WHO: The African Development Bank; senior leaders of 530 public development banks                                   representing 155 countries; global development and finance leaders

The Fifth Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB) with the support of Agence Française de Développement (AFD), will take place this year in Cape Town, South Africa from 26-28 February. The African Development Bank is a sponsor for the event.

The African Development Bank President Dr Akinwumi Adesina will lead a delegation to the summit which has the theme, Fostering Infrastructure and Finance for Fair and Sustainable Growth. The theme aligns with the objectives of South Africa’s presidency of the G20: Solidarity, Equity, Sustainability.

Dubbed a “Summit of Solutions,” the event will bring together institutions that manage US$23 trillion in assets (10% of global investments) to address critical infrastructure needs in climate-vulnerable regions and advance financial innovation and sustainable development, focusing on Africa and developing Asian nations. It will focus on three critical pillars: inclusive finance to reduce inequality, digital transformation to bridge technological gaps, and climate-resilient infrastructure development, all aimed at creating a more equitable and sustainable world.

The African Development Bank delegation also includes Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialization; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Hassatou Diop N’Sele, Vice President for Finance and Chief Financial Officer; Leila Farah Mokaddem, Director General for Southern Africa and Moono Mupotola, Deputy Director General for Southern Africa, who will be speaking at sessions across the three days.

The Finance in Common Summit, launched in 2020, represents the world’s largest gathering of public development banks.

To request media interviews with members of the Bank’s delegation, please email the contact below.

Click here to register for the event and more information.

Join the conversation: #FiCS2025 #SustainableFinance

MIL OSI Economics –

February 25, 2025
MIL-OSI New Zealand: Smoother path for Great Rides
Source: New Zealand Government

Cycling our Great Rides is about to get a whole lot smoother, with a $9 million Government boost for infrastructure upgrades and replacements, Tourism and Hospitality Minister Louise Upston has announced.

“Together, the 23 Great Rides receive about a million visitors a year, of whom around 20 per cent are international visitors,” Louise Upston says.

“With those numbers expected to continue growing, maintaining and improving these trails is a must, so visitors can keep enjoying the unique experience of pedalling through New Zealand’s beautiful landscapes.

“We know some of the Great Rides trails need work so the first priority will be addressing issues such as improving design and resilience, making them better able to cope with rider numbers and extreme weather.

“I’m excited to announce this investment and am looking forward to seeing local communities welcome more visitors to experience everything they have to offer.

“This initiative builds on the Government’s commitment to tourism. The sector is a crucial part of our focus on economic growth, with domestic and international tourism expenditure at almost $38 billion and supporting nearly 200,000 jobs.

“Already this month we’ve announced:
- $500,000 for marketing New Zealand as the ‘go now’ destination for Australians
- $30 million to support conservation tourism
- $3 million for regional tourism initiatives.
“Investment in tourism has overwhelming support from Kiwis – 93 per cent of New Zealanders surveyed last year agreed that tourism is good for the country.

“This is a year of opportunity. 2025 is our chance to reinforce the value of tourism to a humming, vibrant country, where we welcome anyone, from anywhere, anytime,” Louise Upston says.

Today’s announcement came in Queenstown, where Minister Upston attended the opening of the Hugo Tunnel on the separately funded Shotover Gorge Trail. Once opened, this trail will link Frankton to Arthurs Point to provide a spectacular off-road journey along the Shotover River.

The two years of funding is available through the Ngā Haerenga New Zealand Cycle Trail Fund and applications open on 31 March.

This is a contestable funding round and applicants will be expected to fund 25-50 per cent of the total project cost.

MIL OSI New Zealand News –
February 25, 2025
MIL-OSI New Zealand: Drug and Alcohol Testing – Recent data indicates an increase in amphetamine-type substances and opioids
Source: Botica Butler Raudon

Imperans Q4 Report, State of Workplace Drug Use from TDDA.

AUCKLAND, New Zealand, 25 February 2024 – The Drug Detection Agency (TDDA), New Zealand’s largest workplace drug testing provider has released its Q4 2024 workplace drug and alcohol findings.

The Imperans Report provides New Zealand employers with an analysis of drug and alcohol usage trends, combining results from the nation to empower businesses to engage in proactive workplace risk management.

This quarter, 3.99 per cent of the screens conducted by TDDA indicated the presence of drugs. THC (cannabis) continues to be the most prevalent substance detected in workplace drug tests, accounting for 59.1 per cent of cases. Recent data also indicates a sharp increase in amphetamine-type substances and opioids compared to the same quarter last year. This suggests shifting patterns in substance use that requires greater employer awareness and policy reinforcement, especially around non-medical use of pharmaceuticals.

Below are the most prevalent substances detected nationally in TDDA testing:

THC (cannabis): 59.1 per cent (down from 63.8 per cent in Q4 2023)

Amphetamine-type substances (including methamphetamine): 24.4 per cent (up from 18.8 per cent in Q4 2023)

Opioids (including oxycodone): 12.1 per cent (up from 11.9 per cent in Q4 2023)

Benzodiazepines: 3.5 per cent

Cocaine: 1.1 per cent.

“New Zealand workplaces must remain vigilant in addressing substance use. Working under the influence of amphetamines is also a major workplace hazard,” says Glenn Dobson, CEO, TDDA.

“These substances impair vision, cause dizziness, and adversely affect coordination, increasing the risk of serious accidents. In high-risk environments like construction, transport, and manufacturing, impairment can be the difference between a routine workday and a fatal incident.”

“The increase in amphetamine detections a real issue, but opioid detections are what concerns me more. Until now, New Zealand has largely avoided the opioid epidemic seen overseas, so any rise in detection rates is worth examination. As a workplace risk, opioids are at the top. Legally prescribed or illegally procured, they can cause workplace accidents, long-term addiction and lead to the loss of life in more way than one.”

With shifting patterns in substance use, Kiwi employers can benefit from reviewing their testing protocols and support systems to ensure both compliance and workforce well-being. As members of the National Drug and Alcohol Screening Association (NDASA) and the California Narcotic Officers Association (CNOA), TDDA closely follows and acts on global drug trends.

TDDA recommends that companies update drug and alcohol policies to include stronger measures addressing opioids and amphetamines, train managers to recognise impairment, particularly the subtle signs of opioid use, and ensure regular and random drug testing to deter misuse and protect workplace safety.

“Employers need to stay ahead of these trends, enforce policies consistently, and provide education to their workforce to prevent harm,” says Dobson. “With the right measures in place, businesses can protect their employees and maintain a safe, productive environment.”

In Q4 2024 tests from 27 sterile clinic locations and over 60 mobile clinics throughout New Zealand were used. All tests were taken between 1 October 2024 and 31 December1. Data is anonymised and aggregated using TDDA’s Imperans system, a bespoke IT platform for testing services, data recording, and reporting.

TDDA drug tests screen for amphetamines; benzodiazepines; cocaine; methamphetamine; opiates and opioids; cannabis; and synthetic drugs like synthetic cannabis.

1 Total figures on testing volumes or testing results by industry and region are commercially sensitive.

Methodology
Testing data from 1 October 2024 and 31 December 2024 is aggregated and anonymised from 27 clinic and 60 mobile clinic operations throughout Australasia. Data from preemployment, post incident, regular and random testing has been combined. Testing methods included urine and oral fluid screening. Data is reported into the TDDA Imperans system, anonymised, and represents a snapshot of drug trends across Australasian workplaces and industries.

About The Drug Detection Agency
The Drug Detection Agency (TDDA) is a leader in workplace substance testing with more than 300 staff, 90 mobile health clinics, 65 locations throughout Australasia, and processing more than 250,000 tests annually. TDDA was established in 2005 to provide New Zealand and Australian businesses with end-to-end workplace substance testing, education and policy services. TDDA holds ISO17025 accreditation for workplace substance testing in both AU and NZ. Refer to the IANZ and NATA websites for TDDA’s full accreditation details. Learn more about TDDA at https://tdda.com/.
MIL OSI New Zealand News –
February 25, 2025
MIL-OSI United Nations: World News in Brief: Famine in Sudan, Gaza polio campaign continues, West Bank update, Kenyan officer killed in Haiti

Source: United Nations 2

24 February 2025 Peace and Security

Secretary-General António Guterres expressed deep concern on Monday following the announcement by Sudan’s Rapid Support Forces (RSF) militia and affiliated groups, of a political charter proposing the establishment of a rival governing authority in RSF-controlled areas to the transitional Government.

He warned in a statement issued by his spokesperson that this further escalation of the battle for the country between Government troops and their former RSF allies, deepens the fragmentation of Sudan and risks entrenching the crisis even further.

Sudan is in the grip of a catastrophic crisis as “bloodshed, displacement and famine are engulfing the country,” he said earlier at the opening of the latest UN Human Rights Council session in Geneva.

Preserving the nation’s unity, sovereignty and territorial integrity remains crucial for a sustainable resolution and long-term stability in Sudan and the wider region.

The Secretary-General also condemned the persistent violence against civilians perpetrated by both sides of the conflict – including ethnically motivated attacks – with Sudanese civilians paying the highest price for the ongoing war.

His Personal Envoy for the Sudan, Ramtane Lamamra, is actively engaging the warring parties and relevant stakeholders to secure a cessation of hostilities, protect civilians, ensure humanitarian access, and promote de-escalation, the UN chief’s statement said.

Gaza and the West Bank: Health campaigns and humanitarian relief

In Gaza, the emergency polio outbreak response continues, with a mass vaccination campaign which began on Saturday scheduled to run until 26 February.

The novel oral polio vaccine is set to be administered to more than 591,000 children under the age of 10, targeting those previously missed, in order to close immunity gaps and halt the outbreak.

“Over 261,000 children in Gaza received their polio vaccine on the first day of the campaign, despite all challenges,” noted a representative of the UN Children’s Fund (UNICEF).

Since the ceasefire took effect, UN humanitarian partners have distributed tents, sealing materials, and tarpaulins to families – particularly in northern Gaza.

Additionally, over 80,000 children have been screened for malnutrition, and thousands of families have received hygiene kits and water supplies.

OCHA emphasised that sustaining these humanitarian efforts will require continued international funding and a lasting ceasefire.

Meanwhile, the World Food Programme (WFP) said on Monday the ceasefire has enabled it to reach one million people across Gaza with food assistance, including fresh bread, hot meals and cash support, while preparing to extend its reach further across both Gaza and the West Bank.

West Bank turmoil continues

Nevertheless, OCHA has confirmed that Israeli forces continue operations in northern areas of the West Bank, with reports of home demolitions in the Tulkarm refugee camp adding to displacement and destruction.

Mr. Guterres called for “a permanent ceasefire” in Gaza and “the dignified release of all remaining hostages”.

Kenyan police officer killed in a Haiti anti-gang operation

A Kenyan police officer serving with the Security Council-backed Multinational Security Support Mission (MSS) in Haiti died on Sunday after sustaining injuries during an anti-gang operation in the lower Artibonite region, marking the mission’s first casualty.

The officer was wounded during a security operation in Pont Sonde, as part of efforts to curb escalating gang violence. In a statement, the MSS confirmed the death, expressing condolences to his family and colleagues.

Mr. Guterres also reacted to the news, saying he was “deeply saddened” by the officer’s death and extended his sympathies to “the family of the police officer, the people and Government of Kenya, and of course all of his colleagues in the MSS.”

The tragic incident comes amid worsening insecurity in Haiti, where gangs control large parts of the country.

Speaking in Geneva, Mr. Guterres underscored the severity of the crisis. “In Haiti, we are seeing massive human rights violations – including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs,” he said.

To address the crisis, the Secretary-General announced plans to propose new measures to the Security Council, including strengthening support for the MSS, the Haitian National Police, and Haitian authorities.

“A durable solution requires a political process – led and owned by the Haitian people – that restores democratic institutions through elections,” he added.

The officer’s death highlights the growing dangers facing international forces deployed to stabilise the country.

MIL OSI United Nations News –

February 25, 2025
MIL-OSI: Skyline Bankshares, Inc. Announces Appointment of Director

Source: GlobeNewswire (MIL-OSI)

FLOYD, Va. and INDEPENDENCE, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”), announces the appointment of Israel O’Quinn as a director of the Company and the Bank effective immediately. The Company’s Board of Directors approved the appointment on February 18, 2025.

Mr. O’Quinn is President and CEO of The United Company Foundation as well as the James W. and Francis G. McGlothlin Foundation. He has also served as an elected member of the Virginia House of Delegates since 2011. For almost all of his tenure in the House of Delegates, Mr. O’Quinn has been a member of the Commerce and Energy committee, among others, which has provided him an in-depth knowledge of the laws and regulations related to banking and other businesses. Before his current role leading the two charitable foundations, Mr. O’Quinn was a key executive at KVAT Food Stores (Food City) for seventeen years, serving in roles of increasing responsibility across the organization, including strategy, regulatory issues and community relations. Born and raised in Southwest Virginia, and having represented the area for over a decade in the legislature, he is well-versed in the needs and opportunities of the region. Mr. O’Quinn is a member of the Emory & Henry University Board of Trustees and he earned Bachelors Degrees in Political Science and History from the college. In addition to his legislative and professional work, Mr. O’Quinn has served on a number of other boards and commissions, including as Chairman of the Bristol Chamber of Commerce, and provided leadership to economic development projects as Co-Chair of InvestSWVA.

President and CEO Blake Edwards stated, “Israel’s professional experience, service in the legislature, and in-depth knowledge of the region, will make him a tremendous addition to Skyline as we continue to expand our presence in the southwest Virginia and eastern Tennessee markets. We are excited to welcome Israel to the Skyline family.”

Skyline National Bank is the wholly-owned subsidiary of Skyline Bankshares, Inc. and serves southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

For more information contact:
Blake Edwards, President & CEO – 276-773-2811
Lori Vaught, EVP & CFO – 276-773-2811

The MIL Network –

February 25, 2025
MIL-OSI: Xtract One Announces Fiscal 2025 Second Quarter Conference Call

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced that it will release fiscal 2025 second quarter results after the close of trading on March 12, 2025. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will host a webcast and conference call at 10:00 a.m. Eastern Time the following day, March 13, 2025, to review the three months ended January 31, 2025.

The webcast and presentation will be accessible on the company’s website, and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers). Management will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.

About Xtract One Technologies
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn.

About Threat Detection and Security Solutions
Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.

For further information, please contact:
Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

The MIL Network –

February 25, 2025
MIL-OSI Video: EU reaffirms unwavering support to Ukraine on anniversary of invasion

Source: European Commission (video statements)

Press Conference of the International Summit on the Support of Ukraine in Kyiv: The EU has provided almost €135 billion in support to Ukraine, including economic, military, financial, and humanitarian aid. It continues to work with international partners to ensure sustained support and hold Russia accountable.

Hard-hitting sanctions have significantly weakened Russia’s economy and war capabilities. The EU is also working to ensure those responsible for war crimes face justice through the International Centre for the Prosecution of the Crime of Aggression against Ukraine in The Hague.
Peace, reconstruction, and Ukraine’s European future

Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-268157
Follow us on:
-X: https://twitter.com/EU_Commission
-Instagram: https://www.instagram.com/europeancommission/
-Facebook: https://www.facebook.com/EuropeanCommission
-LinkedIn: https://www.linkedin.com/company/european-commission/
-Medium: https://medium.com/@EuropeanCommission

Check our website: http://ec.europa.eu/

https://www.youtube.com/watch?v=ROExnWR2Re4

MIL OSI Video –

February 25, 2025
MIL-OSI Security: Former Employee Admits Embezzling At Least $300,000 from St. Louis County Company

Source: Office of United States Attorneys

ST. LOUIS – A man from Charlotte, North Carolina has admitted embezzling at least $300,000 from a St. Louis County company, U.S. Attorney Sayler A. Fleming announced Monday.

Scott H. Foster, 48, pleaded guilty Friday to one count of wire fraud. He admitted as part of his plea that he committed the crime from January 2018 to December 2022, while employed as a mid-level executive of the company. Foster manipulated the human resources systems to create an employee account for his paramour, triggering wages and benefits totaling more than $273,000.00 to be paid to his paramour over nearly five years, despite this individual performing little or no actual work for the company. Foster also used a corporate American Express card to pay for more than $33,000 in personal travel for himself, his paramour and other friends and acquaintances.

Foster is scheduled to be sentenced May 22.

The FBI investigated the case. Assistant U.S. Attorney Jonathan Clow prosecuted the case.

MIL Security OSI –

February 25, 2025
MIL-OSI Security: Owner of Old Dutch Mustard Co. Pleads Guilty to Violating the Clean Water Act by Polluting the Souhegan River

Source: Office of United States Attorneys

CONCORD – A New York man and Old Dutch Mustard Co., a mustard and vinegar manufacturing company, pleaded guilty in federal court to knowingly discharging acidic water into the Souhegan River, Acting U.S. Attorney Jay McCormack and Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division announce.

Charles Santich, 59, of New York, and Old Dutch Mustard Co., Inc., d/b/a Pilgrim Foods, Inc. (“Old Dutch Mustard”) pleaded guilty to knowing discharging a pollutant without a permit. U.S. District Court Judge Landya McCafferty scheduled sentencing for June 23, 2025.

The Clean Water Act “CWA” prohibits the discharge of any pollutant into navigable waters of the United States without a National Pollutant Discharge Elimination System permit. Due to a long history of CWA non-compliance dating back to the 1980s, Old Dutch Mustard has been subject to several enforcement actions by the EPA, the New Hampshire Department of Environmental Services (“NH DES”), and the New Hampshire Attorney General’s Office. As a result of these actions, EPA and NH DES have required continuous monitoring of an Unnamed Brook that flows underneath and in front of the facility, eventually flowing into the Souhegan River. The Souhegan River is one of nineteen New Hampshire rivers that the State of New Hampshire has designated as an important natural resource.

Charles Santich is the president and owner of Old Dutch Mustard, a New York corporation with a manufacturing facility in Greenville, New Hampshire. Old Dutch Mustard manufactures vinegar and mustard products, which generates acidic wastewater. In addition, stormwater flows through the property, including an outdoor area where the company stores their product in large tanks. Both the wastewater and stormwater at Old Dutch Mustard becomes acidic and is categorized as a pollutant under the CWA, and Old Dutch Mustard did not have the necessary permit to discharge the acidic wastewater or stormwater into the environment. Instead, Old Dutch was required to store the polluted water in tanks and pay a trucking company to haul all the wastewater off-site to a publicly owned treatment plant.

Beginning in the spring of 2015, Santich hired an excavation company to bury a pipe from the Old Dutch Mustard facility to discharge the acidic wastewater and stormwater in the general direction of the Souhegan River along an abandoned railroad bed. This discharge point was downstream of, and not detectible by, the continuous environmental monitoring required by the EPA and State of New Hampshire.

Santich directed Old Dutch Mustard employees to repeatedly pump acidic wastewater and stormwater through the underground pipe to the abandoned railroad bed. Santich also directed employees not to tell anyone about the pipe.

In May of 2023, state inspectors from NH DES discovered wastewater from the facility, with low pH and smelling of vinegar, flowing from a manmade ditch at the top of the hill on the Old Dutch Mustard property into the Souhegan River. In August 2023, EPA agents executed a search warrant at the Old Dutch Mustard facility and observed liquid that smelled like vinegar discharging from the end of the underground pipe into the ditch. The wastewater discharge had a low pH of 3.6. The agents then conducted a dye test. The dye discharged from the underground pipe at the top of the hill and flowed along the drainage ditch and down to the river.

EPA’s Criminal Investigation Division investigated this case. Valuable assistance was provided by the New Hampshire Department of Environmental Services and the New Hampshire Attorney General’s Office. Assistant U.S. Attorney Matthew T. Hunter and Trial Attorney Ronald A. Sarachan of the Environment and Natural Resources Division are prosecuting the case with the assistance of EPA Senior Regional Criminal Enforcement Counsel Dianne G. Chabot.

###

MIL Security OSI –

February 25, 2025
MIL-OSI: POPcodes Wins ETA’s Most Innovative Solution for 2025

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, Feb. 24, 2025 (GLOBE NEWSWIRE) — POPcodes, Inc. (POPcodes), a leading provider of value-added, B2B and B2C solutions for payment providers, is honored to receive the Most Innovative Product or Solution Award from the Electronic Transactions Association (ETA). POPcodes will receive the award during the Visa Celebration & ETA Star Awards on April 2, 2025, at TRANSACT, the premier annual event for the payments industry.

The Most Innovative Product or Solution Award recognizes companies that deliver exceptional increases in usability, reduced friction, increased profitability, or drive advancements for the payments ecosystem. POPcodes’ Direct-to-Merchant^TM (D2M) Communication Platform embodies all those criteria, transforming how payment solution providers (PSPs) and their enterprise and SMB merchant customers connect, communicate, and engage.

D2M accelerates activations, reduces training and support costs, and drives increased adoption of value-added service by enabling instant, campaign-based, and self-serve messaging with graphical, omnichannel workflows delivered in the merchants’ preferred language directly to the in-person point of purchase.

POPcodes’ unique cloud/app-based hybrid platform gives PSPs unprecedented simplicity, flexibility, control, and effectiveness when meeting their B2B communication and process automation needs — delivering a better merchant experience while meeting the payment ecosystem’s rigorous security and stability demands.

POPcodes’ clients include two of the top five global payment processors. These processors use D2M to solve multiple business-critical challenges, including delivering a better first experience for new merchants, accelerating new device and application rollouts, reducing training support and costs, and guiding merchants through PCI and AML/KYC compliance. Most importantly, POPcodes drive merchant referrals and increase value-added service sales. By leveraging the D2M platform’s features and POPcodes’ expertise, the solution has proven value to the PSP’s portfolio growth, profitability, and retention goals.

CEO Gregg Aamoth explained, “We’re dedicated to revolutionizing the payments industry by helping PSPs around the world deliver seamless, secure, and user-friendly workflows that empower merchants and enhance their experience, while optimizing PSPs’ business, partnerships, and shareholder value.”

“This recognition is an honor and testament to our team’s hard work. We look forward to expanding our mission of innovation and excellence around the globe, ultimately connecting all players in the multi-trillion dollar retail and payments value chains,” Aamoth said.

The award is the latest for POPcodes’ D2M platform. The company was runner-up in the ETA’s Most Innovation Solution category in 2024 and also received awards and recognitions at Money 20/20 and the SouthEast, NorthEast, and Western States Acquirers Association conferences.

POPcodes congratulates all nominees and winners in this year’s ETA Awards for their accomplishments and dedication to advancing payment innovation.

About POPcodes

POPcodes’ cloud-based platform, white-labeled apps, and AI-enabled content, workflow, and campaign management services transform the rapidly expanding network of smart, in-person payment devices into an exclusive, owned digital media channel with secure, bi-directional messaging and omnichannel workflows that help globally recognized brands meet their B2B, B2B2B, B2C, and B2B2C obligations and goals.

Learn more at popcodes.com

Contact
Kristi Hamilton
(904) 718-8972
Kristi@Skyrocketgroup.com

The MIL Network –

February 25, 2025
MIL-OSI: Spartan Capital Securities Names Brian Duddy as Head of Capital Markets

Source: GlobeNewswire (MIL-OSI)

NEW YORK, NY, Feb. 24, 2025 (GLOBE NEWSWIRE) — Spartan Capital Securities, LLC is pleased to announce that Brian Duddy has been promoted from Director of Equities to Head of Capital Markets. With over 30 years of experience in Capital Markets, Equity Sales, and Trading, Brian has played a key role in driving institutional engagement and executing complex transactions.

Prior to joining Spartan Capital, Mr. Duddy held senior positions at leading financial institutions, including William Blair, where he opened the firm’s first New York office and became a partner in the Equity Sales & Trading Group. His extensive background includes roles at DLJ, Cowen, and Soleil Securities, where he worked closely with major hedge funds and institutional investors, facilitating large block trades, overnight transactions, and placing IPOs and Secondary Offerings with his clients.

Spartan Capital Securities’ Founder and CEO, John Lowry, commented: “Brian Duddy’s expertise and leadership continue to strengthen Spartan’s presence in Capital Markets. His deep institutional relationships and ability to execute complex transactions make him a tremendous asset to our firm and clients. We look forward to his continued contributions.”

About Spartan Capital Securities, LLC (SCS):

Spartan Capital Securities, LLC is a full-service, integrated financial services firm that provides sound investment guidance for high-net-worth individuals and institutions. Their in-depth market knowledge, calculated risk management strategy, and investment acumen have earned them a strong reputation as trusted financial advisors. Spartan Capital’s experienced investment professionals provide highly customized personal service, tailoring an asset allocation program to enable each client to meet their financial goals. Spartan Capital also offers advisory and insurance services through its affiliates, Spartan Capital Private Wealth Management, LLC, and Spartan Capital Insurance Services, LLC.

For inquiries, contact: info@spartancapital.com

John D. Lowry
Spartan Capital Securities
+1 (212) 293-0123

The MIL Network –

February 25, 2025
MIL-OSI: Skyline Bankshares, Inc. Announces Semi-Annual Cash Dividend

Source: GlobeNewswire (MIL-OSI)

FLOYD, Va. and INDEPENDENCE, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”), announces a semi-annual cash dividend on the Company’s common stock of $0.25 per share, payable March 24, 2025 to shareholders of record on March 14, 2025. The Company’s Board of Directors declared the dividend on February 18, 2025.

Skyline National Bank is the wholly-owned subsidiary of Skyline Bankshares, Inc. and serves southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

For more information contact:
Blake Edwards, President & CEO – 276-773-2811
Lori Vaught, EVP & CFO – 276-773-2811

The MIL Network –

February 25, 2025
MIL-OSI: Alaris Equity Partners Provides Corporate Update

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION IN THE UNITED STATES.
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

CALGARY, Alberta, Feb. 24, 2025 (GLOBE NEWSWIRE) — (all numbers in this release are in US dollars (US$) unless otherwise noted) Alaris Equity Partners Income Trust (the “Trust“) (TSX: AD.UN) is pleased to announce that its subsidiary, Alaris Equity Partners USA Inc. (collectively, with the Trust and its other subsidiaries, “Alaris“) has made an investment of $21.0 million into Berg Demo Holdings, LLC (“Berg“) (the “Berg Investment”) and $61.1 million into Professional Electric Contractors of Connecticut, Inc. (“PEC“) (the “PEC Investment“). Alaris is also pleased to announce the redemption of Alaris’ investment in Unify Consulting LLC (“Unify“), which closed in December, and resulted in gross proceeds of $12.3 million to Alaris (the “Unify Redemption“).

“A productive start to 2025 with the closing of two new partnerships and the successful exit of another. Berg and PEC both signify the forming of partnerships with very strong entrepreneurs. David Berg and Jim Bisson from Berg and PEC respectively are exactly what we look for in partners. Long track records of success and a strong passion to continue to grow their businesses. Both partners have the capacity and desire to grow through acquisitions in addition to continued organic growth.

I’d like to thank Darren Alger and his team at Unify for a wonderful eight years as our partner. Alaris originally funded a management buyout for Darren and we are proud of how well he has done as majority owner. Crystallizing another investment with an IRR of 20% is also an excellent result for our management team,” said Steve King, Chief Executive Officer, Alaris.

Berg Investment

The Berg Investment consists of: (i) $17.15 million (the “Berg Preferred Contribution“) of preferred equity, entitling Alaris to an initial annualized distribution of $2.40 million (the “Berg Distribution“); and (ii) $3.85 million (the “Berg Common Equity“) for a minority common equity ownership in Berg. The Berg Distribution will reset annually based on the percentage change in gross profit, subject to a collar of ⁺/- 7%.

Berg has an earnings coverage ratio between 1.5x and 2.0x based on Berg’s trailing twelve-month financial results and giving effect to certain other changes to Berg’s capital structure. The Berg Investment will be used for capital investment and to provide partial liquidity to equity holders.

“We are thrilled to partner with Alaris, a partnership that strengthens our leadership team’s ability to drive future growth. As a third-generation demolition, scrap, and hazardous materials company, Berg has built a legacy of excellence. With Alaris’s strategic support and expertise, we are confident that Berg will continue to thrive as an industry leader for generations to come,” said David Berg, Founder, Berg.

Berg is a leading demolition solutions provider serving public, commercial and industrial end markets in the Baltimore and DC, Maryland & Virginia (“DMV”) metropolitan area in the United States. Founded in 1998 by David Berg and headquartered in Baltimore, MD, Berg has become the preeminent hazardous material abatement, selective structural and building razing operation in the region.

PEC Investment

The PEC Investment of $61.1 million consists of a $37.0 million investment in debt and preferred equity (the “PEC Contribution“) as well as an investment of $24.1 million in exchange for a minority common equity ownership in PEC (the “PEC Common Equity“). Included within the $37.0 million PEC Contribution is $10.0 million of preferred equity redeemable at par. The PEC Contribution will result in an annualized cash distribution to Alaris of $5.18 million (the “PEC Distribution“), an initial combined annual yield of 14% and will reset annually +/- 7% based on changes in PEC’s revenue. The proceeds from the PEC Investment were used for partial liquidity to existing PEC shareholders.

PEC has an earnings coverage ratio between 1.5x and 2.0x, based on PEC’s trailing twelve-month financial results and giving effect to changes to PEC’s capital structure following the Alaris investment.

“When we first met Alaris, we liked their people and their unique model immediately; Alaris’ combination of financial strength and M&A acumen will allow us to focus on growth, while their approach recognizes our desire to protect and preserve PEC’s culture, which has always been a competitive advantage and our defining attribute,” said Jim Bisson, Jr., President and Chief Executive Officer, PEC.

PEC is a full-service electrical contracting firm with a broad range of capabilities ranging from commercial installations, historical structural retrofits and large scale Photovoltaic (PV) projects. In addition, through its subsidiary North American Renewables, Inc, PEC is a leading solar engineering, procurement and construction (“EPC”) contractor. PEC serves the Greater New England and New York area.

Unify Redemption

Alaris successfully exited its partnership with Unify after eight years resulting in total gross proceeds over the life of the investment of CAD$51.6 million. Alaris’ total return on the Unify investment is CAD$38.6 million, equating to an unlevered IRR of 20% and MOIC of 1.9x.

Following the Berg and PEC Investment, and the Unify Redemption, Alaris will have approximately CA$412.9 million drawn on its senior credit facility (the “Facility“) and $87.1 million available for investment purposes while the total senior debt to EBITDA on a proforma basis is approximately 2.43x. Alaris estimates its run rate payout ratio to be approximately 57.6% following today’s announcement.

About Alaris:

The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners“) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.

NON-IFRS MEASURES:

Earnings Coverage Ratio refers to the Normalized EBITDA of a Partner divided by such Partner’s sum of debt servicing (interest and principal), unfunded capital expenditures and distributions to Alaris. Management believes the earnings coverage ratio is a useful metric in assessing our partners continued ability to make their contracted distributions.

Normalized EBITDA refers to EBITDA excluding items that are non-recurring in nature and is calculated by adjusting for non-recurring expenses and gains to EBITDA. Management deems non-recurring charges to be unusual and/or infrequent charges that our Partners incur outside of its common day-to-day operations.

EBITDA refers to earnings determined in accordance with IFRS, before depreciation and amortization, net of gain or loss on disposal of capital assets, interest expense and income tax expense. EBITDA is used by management and many investors to determine the ability of an issuer to generate cash from operations.

IRR is a supplementary financial measure and refers to internal rate of return, which is a metric used to determine the discount rate that derives a net present value of cash flows to zero. Management uses IRR to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

MOIC is a supplementary financial measure and refers to multiple of capital invested, which is a financial metric used to evaluate the value of an investment relative to the initial capital. Management uses MOIC to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

The terms Earnings Coverage Ratio, Normalized EBITDA, EBITDA, IRR and MOIC (the “Non-IFRS Measures“) are not standard measures under IFRS. Alaris’ calculation of the Non-IFRS Measures may differ from those of other issuers and, therefore, should only be used in conjunction with the Trust’s annual audited and unaudited interim financial statements, which are available under the Trust’s (and its predecessor’s) profile on SEDAR+ at www.sedarplus.ca.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements, including forward-looking statements within the meaning of “safe harbor” provisions under applicable securities laws (“forward-looking statements”). Statements other than statements of historical fact contained in this news release may be forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning the Berg and PEC Investments and the Unify redemption. Many of these statements can be identified by words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof. Forward looking statements in this news release include, without limitation, statements regarding: the annualized distributions for the Berg and PEC Investments; the earnings coverage ratios for Berg and PEC; and Alaris’ outstanding indebtedness and use of the balance of the Facility. Any forward-looking statements herein which constitute a financial outlook or future-oriented financial information (including the impact on Run Rate Payout Ratio) were approved by management as of the date hereof and have been included to provide an understanding of Alaris’ financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect Alaris’ business and that of its Partners are material factors considered by Alaris management when setting the outlook for Alaris. Key assumptions include, but are not limited to, assumptions that: interest rates will not rise in a matter materially different from the prevailing market expectations over the next 12 to 24 months; no widespread global health crisis will impact the economy or any Partners’ operations in a material way in the next 12 months; the businesses of the majority of our Partners will continue to grow; the businesses of new Partners and those of existing partners will perform in line with Alaris’ expectations and diligence; more private companies will require access to alternative sources of capital and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms. Management of Alaris has also assumed that the Canadian and U.S. dollar trading pair will remain in a range of approximately plus or minus 15% of the current rate expectations over the next 6 months. In determining expectations for economic growth, management of Alaris primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies as well as prevailing economic conditions at the time of such determinations.

Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to: the ability of our Partners and, correspondingly, Alaris to meet performance expectations for 2025 and beyond; any change in the senior lenders’ outlook for Alaris’ business; management’s ability to assess and mitigate the impacts of any local, regional, national or international health crises like COVID-19 or its variants; the dependence of Alaris on the Partners; reliance on key personnel; general economic conditions in Canada, North America and globally; failure to complete or realize the anticipated benefit of Alaris’ financing arrangements with the Partners; a failure of the Trust or any Partners to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions in a timely fashion, or at all; a change in the ability of the Partners to continue to pay Alaris’ distributions; a material change in the unaudited information provided to Alaris by the Partners; a failure of a Partner (or Partners) to realize on their anticipated growth strategies; a failure to achieve the expected benefits of the third-party asset management strategy or similar new investment structures and strategies; conflicts of interest that may arise under the asset management strategy or otherwise; a failure to achieve resolutions for outstanding issues with Partners on terms materially in line with management’s expectations or at all; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading “Risk Factors” and “Forward Looking Statements” in the Trust’s Management Discussion and Analysis for the year ended December 31, 2023, which is filed under the Trust’s profile at www.sedar.com and on its website at www.alarisequitypartners.com.

This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about increases to the Trust’s net operating cash from activities and revenues, each of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI and forward-looking statements. Alaris’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and FOFI, or if any of them do so, what benefits the Trust will derive therefrom. The Trust has included the forward-looking statements and FOFI in order to provide readers with a more complete perspective on Alaris’ future operations and such information may not be appropriate for other purposes. Alaris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management’s current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Alaris does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

ir@alarisequity.com
P: (403) 260-1457
Alaris Equity Partners Income Trust
Suite 250, 333 24th Avenue S.W.
Calgary, Alberta T2S 3E6

www.alarisequitypartners.com

The MIL Network –

February 25, 2025
MIL-OSI Global: Moving beyond Black history month towards inclusive histories in Québec secondary schools
Source: The Conversation – Canada – By R. Nanre Nafziger, Assistant Professor, African/Black Studies in Education, McGill University

As Montréal celebrates its 34th Black History Month, it is time to fully integrate Black history into Québec education.

As an all-out war on diversity and inclusion rages below Canada’s southern border, an opportunity is opened for Québec to live up to its vision of a truly inclusive and multicultural society.

Integral to this is mainstreaming the histories of Black, Indigenous and other racialized and equity-deserving communities. This can be done through history studies and also through citizenship and cultural education.

It is important to go beyond Black History Month in order to embrace the importance of Black history for Black students and all students — ignored for too long in history textbooks and teaching.

To this urgent issue we bring our combined research and educational expertise. Nanre Nafziger, the first author of this story, has researched how Black/African peoples can reclaim their histories and cultures, and Sabrina Jafralie, who has a PhD in teacher education, has researched Québec curricula and also brings experience as a Québec-born-and-raised teacher at a Montréal high school.

Essential to combat anti-Black racism

Teaching Black history is essential to fighting against anti-Black racism reinforced through negative depictions of African and Black histories.

History education is important for raising critical and actively involved citizens and increasing acceptance and understanding. Educators speak of developing a “historical consciousness” — which includes learning to examine causes and consequences, and to revisit and interpret sources. This is a critical building block for fighting racism and negative depictions of racialized groups.

History education is important for raising actively involved citizens and increasing understanding. Students at Dawson College in Montréal in 2021.
THE CANADIAN PRESS/Graham Hughes

Québec curriculum development, like most North American curricula, has historically leaned towards a Eurocentric narrative.

Black/African history education is largely absent in Québec’s history curricula, reinforcing the erasure of the contributions of Black people to the development of Québec but also to world history. For example, history and citizenship secondary education (Cycle 1) refers to Black/Afro-Canadian history only in naming enslavement and oppression.

This creates a narrow and damaging history that fails to recognize the diverse range of achievements by Black people. It neglects the rich cultural heritage of Afro-Canadians and reinforces systemic inequities in how knowledge is produced and disseminated.

Sabrina writes: I was fortunate that my Afro Nova Scotian mother taught me our history across Canada. However, it was not present in my education until I created it in high school.

Historical fight for Black history

Researchers have raised concerns that Québec’s “interculturalism” — a longstanding province-specific take on how to address and integrate cultural differences — fails to take into account the complexities of identities and omits important histories.

Such an approach further compounds anti-Black racism in schools.

Black students, parents and educators have called for Black history to be taught in Québec schools year-round and activists have called for the creation of a more inclusive curriculum.

Despite systemic omissions, Black and African communities in Québec have a rich tradition of upholding and preserving their histories through the meticulous work of community archivists and memory keepers.

This includes the creation of Black libraries, books, articles and curriculum materials, oral storytelling and walking tours. Black community organizations offer cultural and community programming that focuses on diverse cultures and histories of Black people. Renowned historian, educator and long-time advocate for Black history Dorothy Williams, created a curriculum toolkit called the ABCs of Black History in French and English for teachers and educators to use in schools.

Recommended revisions

In its brief to the education minister, the Advisory Board on English Education recommended rewrites to “the K-11 history curriculum to broaden its perspective beyond Québec based content and Eurocentricity,” and allowing latitude for schools to incorporate history curriculum relevant to students’ backgrounds.

While it is helpful when school boards mark Black History Month and share resources for teachers, the integration of Black history requires a holistic and comprehensive curricular focus.

Québec may learn from other provinces. Nova Scotia has a curriculum on African Canadian history and Ontario plans to roll out a Black history curriculum in schools in September 2025. Educators in British Columbia created a Black Studies 12 course which helps promote racial equity in education.

Culture and citizenship curriculum

The new Culture and Civics Curriculum (CCQ), a mandatory subject in primary and secondary schools, offers opportunities to address systemic racism with a focus on citizenship, culture and identity. Yet, there is no assurance students will gain competencies to address racism, or teachers will be well-equipped to lead such learning, given the curricular approach. For example:
- The elementary program of the CCQ prepares students to understand “cultural realities” and contains a module on Indigenous perspectives. However, the approach is rooted in Euro-centered sociology.
- Secondary 5 (students aged 16-17) names the compulsory concept of social inequalities (along with sexism and other inequalities related to gender and sexuality; racism and colonialism; socio-economic inequalities; environmental inequalities). However, the teacher decides how to teach these grouped concepts and what emphasis to give these areas.
This means there is a possibility that the CCQ curriculum could address anti-Black racism, but there are too many variables to guarantee it. By contrast, sexuality education and civic education are deemed mandatory and special topics.

Black history now

Including Black history in the curriculum will have a profound, direct impact on students by strengthening their identity, citizenship, and “sense of pride and belonging to Québec society.”

Healthy learning can take place when students and people see their place in history and curriculum, as this creates a sense of belonging. The current curriculum creates exclusion and allows educators to hide in their bias if they desire.

Diverse curricula create space and acknowledge hidden histories and foster a shared humanity and a vision for a shared, socially just, future.

Québec’s complicated history of colonialism, systemic racism and ongoing repression associated with secularism is not one to be shied away from.

Rather, integrating Black history can serve as a portal for inspiring and encouraging critical discourses on histories of communities that are under-represented in dominant stories of Québec.

At a moment when exclusion, vitriol against difference and increasing intolerance dominates social discourse and interactions, Québec can choose another path. Only through critically assessing our past can we look forward to any form of a unified future: nous nous souvenons, we must all remember and be remembered.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Moving beyond Black history month towards inclusive histories in Québec secondary schools – https://theconversation.com/moving-beyond-black-history-month-towards-inclusive-histories-in-quebec-secondary-schools-248832
MIL OSI – Global Reports –
February 25, 2025
MIL-OSI USA: Merkley, Wyden: Trump Devastates Oregon’s Rural Communities with Federal Funding Cuts and Mass Firings

US Senate News:

Source: United States Senator Ron Wyden (D-Ore)

February 24, 2025

Washington, D.C. – Today, Oregon’s U.S. Senators Jeff Merkley, the former top Democrat on the Appropriations subcommittee overseeing the U.S. Department of Agriculture (USDA), and Ron Wyden demanded recently confirmed U.S. Agriculture Secretary Brooke Rollins immediately reverse disastrous actions at the USDA that have harmed Oregon farmers and families.

Their letter follows President Donald Trump’s illegal executive orders cutting federal funds which support farmers, ranchers, and forest landowners and mass firings across the federal government, impacting researchers at units in Burns, Newport, Hood River, and Pendleton.

“These funding freezes and mass firings are cutting jobs, stopping essential investments for our farmers and rural communities, and making our communities less resilient to market volatility from climate, supply chain disruptions, tariffs, and natural disasters,” wrote the Senators. “These agency actions must be immediately reversed.”

The Senators stressed the effects on Oregon by saying, “Many of our constituents have already started much-needed infrastructure projects – such as irrigation modernization under the Watershed and Flood Prevention Operations Program to help farmers in drought-prone areas upgrade their irrigation practices to increase efficiency and conserve water – under the assurance that they would receive their grant money. Halting these payments means that a project in Hood River County will not only be delayed for over 100 days but will put the irrigation district at risk of insolvency. Even if funds are restored immediately, the current delay will ultimately increase the overall costs of this and other urgent projects while also costing hardworking Americans their jobs. Preventing grant recipients from finishing their projects is not a cost-effective or efficient approach to governance and is irresponsible stewardship of Congressionally appropriated taxpayer dollars.”

“While there are reports that some funds have been released, in accordance with the Constitution and federal law, we direct you to immediately release all funds under these grants to ensure these projects stay on schedule, on budget, and preserve jobs. Further, we direct you to stop these senseless firings and restore these dedicated public servants to their jobs to enhance our agriculture industry, protect food safety, and bolster jobs in rural communities and throughout Oregon,” the Senators directed.

Full text of the letter can be found by clicking here and follows below:

Dear Secretary Rollins,

On the same day he was sworn in, President Trump signed an Executive Order effectively halting all investments under the Infrastructure Investments and Jobs Act, commonly known as the Bipartisan Infrastructure Law, and Inflation Reduction Act, jeopardizing vital programs that support Oregon farmers and families. Despite court intervention at other agencies pausing these harmful cuts, the United States Department of Agriculture (USDA) continues to freeze critical funding, which continues to cause severe disruption to farmers, ranchers, and forest landowners who are implementing projects under these landmark pieces of legislation. Since then, the Trump Administration has also fired an estimated 4,200 dedicated public servants in Oregon and across the country, grinding critical work and research to a halt across the agency.

These funding freezes and mass firings are cutting jobs, stopping essential investments for our farmers and rural communities, and making our communities less resilient to market volatility from climate, supply chain disruptions, tariffs, and natural disasters. These agency actions must be immediately reversed.

Critical research partnerships with universities and local farmers and ranchers through the USDA Agricultural Research Service are devastated with uncertain futures after public servants at research stations in Pendleton, Burns, Hood River, Corvallis, and Newport were fired. This vital work helps Oregon’s leading agricultural sectors find solutions toward improving soil health, dealing with wildfire smoke exposure in wine grapes, protecting the rangeland for both ranchers and ecosystems, and navigating threats like disease and pests to reliably bring global-class products to market.

Many of our constituents have already started much-needed infrastructure projects – such as irrigation modernization under the Watershed and Flood Prevention Operations Program to help farmers in drought-prone areas upgrade their irrigation practices to increase efficiency and conserve water – under the assurance that they would receive their grant money. Halting these payments means that a project in Hood River County will not only be delayed for over 100 days but will put the irrigation district at risk of insolvency. Even if funds are restored immediately, the current delay will ultimately increase the overall costs of this and other urgent projects while also costing hardworking Americans their jobs. Preventing grant recipients from finishing their projects is not a cost-effective or efficient approach to governance and is irresponsible stewardship of Congressionally appropriated taxpayer dollars.

Other projects, such as programs that partner with farmers, ranchers, and forest landowners in over half of Oregon’s 36 counties – including in Baker, Coos, Crook, Douglas, Grant, Jefferson, Klamath, Lake, Malheur, Morrow, Polk, Umatilla, Union, and Wheeler counties – to confront the challenges of drought and other extreme weather events have had the rug pulled out from under them. These landowners have already started projects amounting to tens of millions in investments to build operational and environmental resiliency into our food systems by implementing innovative production practices, increasing market competitiveness, and supporting local manufacturing.

Other longer-term grants for wildfire resiliency through the Regional Conservation Partnership Program, such as a $22.25 million investment for work in Jackson County, has also been frozen. This has paused vital work to help ensure local landowners can not only recover from past devastating wildfires but are able to protect their neighbors and communities from future wildfires.

Grant recipients are expecting reimbursement or payment for projects already underway and instead have been met with the message that their projects were either being paused or completely stopped. Many of these recipients are now scared to come forward for fear of further retribution and loss of vital federal support.

While there are reports that some funds have been released, in accordance with the Constitution and federal law, we direct you to immediately release all funds under these grants to ensure these projects stay on schedule, on budget, and preserve jobs. Further, we direct you to stop these senseless firings and restore these dedicated public servants to their jobs to enhance our agriculture industry, protect food safety, and bolster jobs in rural communities and throughout Oregon.

MIL OSI USA News –

February 25, 2025

MIL-OSI USA: H.R. 1156, Pandemic Unemployment Fraud Enforcement Act

Source: US Congressional Budget Office

Bill Summary

H.R. 1156 would extend the statute of limitations from 5 to 10 years for federal criminal prosecution and civil enforcement actions for fraud related to the temporary unemployment programs enacted during the coronavirus pandemic. Under current law, the statute of limitations for those offenses will begin to expire in March 2025. Currently, states refer unemployment insurance claims involving allegations of fraud to the Office of Inspector General (OIG) at the Department of Labor (DOL) for further investigation. That office reviews cases and refers findings to the Department of Justice (DOJ) or other entities for criminal or civil prosecution.

The bill also would rescind direct appropriations provided for program integrity activities in the American Rescue Plan Act of 2021.

Estimated Federal Cost

The estimated budgetary effect of H.R. 1156 is shown in Table 1. The costs of the legislation fall within budget functions 500 (education training, employment, and social services), 600 (income security), and 750 (administration of justice).

Table 1.

Estimated Budgetary Effects of H.R. 1156

By Fiscal Year, Millions of Dollars

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2025-2030

2025-2035

Increases or Decreases (-) in Direct Spending

Estimated Budget Authority

Estimated Outlays

-3

Increases in Spending Subject to Appropriation

Estimated Authorization

n.e.

Estimated Outlays

n.e.

n.e. = not estimated; * = between -$500,000 and $500,000.

CBO estimates that enacting H.R. 1156 would increase revenues by less than $500,000 over the 2025-2035 period.

Basis of Estimate

CBO assumes that the bill will be enacted in March 2025. Estimated outlays are based on historical patterns for existing and similar activities.

Direct Spending and Revenues

CBO estimates that enacting H.R. 1156 would increase net direct spending and revenues by less than $500,000 over the 2025-2035 period (see Table 2).

Table 2. Estimated Changes in Direct Spending Under H.R. 1156
	By Fiscal Year, Millions of Dollars
	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	2025-2030	2025-2035
	Increases or Decreases (-) in Direct Spending
Extend the Statute of Limitations
Estimated Budget Authority	5	*	*	*	*	*	*	*	*	*	*	5	5
Estimated Outlays	*	3	1	1	*	*	*	*	*	*	*	5	5
Rescind Funding for Program Integrity Activities
Budget Authority	-5	0	0	0	0	0	0	0	0	0	0	-5	-5
Estimated Outlays	-3	-2	0	0	0	0	0	0	0	0	0	-5	-5
Total Changes
Estimated Budget Authority	0	*	*	*	*	*	*	*	*	*	*	*	*
Estimated Outlays	-3	1	1	1	*	*	*	*	*	*	*	*	*

Extend the Statute of Limitations. Upon the enactment of H.R. 1156, CBO expects that DOL would provide additional funding to states to continue their referrals of cases to DOL and provide information about those cases to the department’s OIG and federal law enforcement agencies. Under current law, DOL has permanent authority to fund whatever amounts are necessary for those activities for pandemic-related programs. Using information from DOL, CBO estimates that under the bill the department would provide $5 million in additional funding to states, increasing direct spending by the same amount over the 2025-2035 period.

By extending the period for which DOJ could pursue prosecutions, CBO expects that H.R. 1156 would increase the collections of penalties and the recovery of additional benefits paid fraudulently in 2025 and subsequent years. That change would not affect state laws or rules governing the recovery of overpayments. Based on an analysis of data for similar offenses from the U.S. Sentencing Commission, CBO estimates that the increase in penalty collections would be insignificant. Criminal and civil fines are recorded in the budget as revenues; criminal fines are deposited into the Crime Victims Fund and spent without further appropriation. Thus, CBO estimates that enacting H.R. 1156 would increase revenues and the associated direct spending from penalty collections by less than $500,000 over the 2025-2035 period. Additionally, using information from DOL and DOJ, CBO estimates that any additional recoveries of overpaid benefits, which are recorded as reductions in direct spending, would be insignificant. The extent to which any additional recoveries would happen is highly uncertain.

Rescind Funding for Program Integrity Activities. The bill would rescind $5 million in mandatory funding provided in the American Rescue Plan Act to state unemployment insurance agencies for program integrity activities, which are undertaken to ensure that benefits are paid correctly. Using information from DOL, CBO estimates that the rescission would decrease direct spending by $5 million over the 2025-2035 period.

Spending Subject to Appropriation

CBO assumes that if the statute of limitations were extended, more potential fraud cases would be referred to the OIG, and that office would continue to investigate cases it might otherwise have dropped. Using information from the Department of Labor, CBO estimates that the OIG would require an additional $5 million over the 2025-2030 period to handle those referrals and cases. Assuming appropriation of the estimated amounts, CBO estimates that outlays for those activities would total $5 million over the same period (see Table 1).

Pay-As-You-Go Considerations

The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending or revenues. CBO estimates that enacting the bill would increase direct spending by less than $500,000 over the 2025-2035 period and increase revenues by less than $500,000 in every year and over the 2025-2035 period (see Table 3).

Table 3. CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1156, the Pandemic Unemployment Fraud Enforcement Act, as Ordered Reported by the House Committee on Ways and Means on February 12, 2025
	By Fiscal Year, Millions of Dollars
	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	2025-2030	2025-2035
	Net Increase or Decrease (-) in Outlays
Pay-As-You-Go Effect	-3	1	1	1	0	0	0	0	0	0	0	0	0

Increase in Long-Term Net Direct Spending and Deficits

CBO estimates that enacting H.R. 1156 would not significantly increase net direct spending in any of the four consecutive 10-year periods beginning in 2036.

CBO estimates that enacting H.R. 1156 would not significantly increase on‑budget deficits in any of the four consecutive 10-year periods beginning in 2036.

Mandates

The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

Mandates: Erich Dvorak

Estimate Reviewed By

Elizabeth Cove Delisle
Chief, Income Security Cost Estimates Unit

Justin Humphrey
Chief, Finance, Housing, and Education Cost Estimates Unit

Kathleen FitzGerald
Chief, Public and Private Mandates Unit

Christina Hawley Anthony
Deputy Director of Budget Analysis

H. Samuel Papenfuss
Deputy Director of Budget Analysis

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

February 25, 2025

MIL-OSI: Tailrow Reciprocal Exchange, an HCI Group Sponsored Insurer, Assumes Just Under 14,000 Policies from Citizens, Representing Approximately $35 Million in Premium

Source: GlobeNewswire (MIL-OSI)

TAMPA, Fla., Feb. 24, 2025 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that Tailrow Insurance Exchange, an HCI-sponsored reciprocal insurer with plans to write personal residential policies, has successfully assumed just under 14,000 policies from Citizens Property Insurance Corporation, Florida’s state-backed insurance company. The policies assumed represent approximately $35 million of in-force premium.

“We are excited to complete this assumption and officially commence operations at Tailrow. The technology we’ve built and our management expertise enabled us to identify attractive policies at Citizens for assumption and achieve a high adoption rate by policyholders,” said Paresh Patel, HCI’s chairman and chief executive officer.

Tailrow was approved for 20,000 policies, made approximately 18,000 offers and assumed just under 14,000 policies – a 76% acceptance rate. The assumption of policies is effective as of February 18, 2025.

A “reciprocal insurer” is an unincorporated aggregation of at least 25 policyholders operating through an attorney in fact to provide insurance among themselves. A reciprocal insurer is essentially owned by its policyholders, but its operations such as underwriting, claims and management services are provided by an attorney in fact for a predetermined management fee.

About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, information technology services, insurance management, real estate, and reinsurance. HCI’s leading insurance operation, TypTap Insurance Company, is a technology-driven homeowners insurance company. TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA, Inc. HCI’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners insurance primarily in Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

Company Contact:
Bill Broomall, CFA
Investor Relations
HCI Group, Inc.
Tel (813) 776-1012
wbroomall@typtap.com

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
Tel 949-574-3860
HCI@gateway-grp.com

The MIL Network –

February 25, 2025

Category: Business

Source: Port Marlborough

Gaza and the West Bank: Health campaigns and humanitarian relief

West Bank turmoil continues

Kenyan police officer killed in a Haiti anti-gang operation

Essential to combat anti-Black racism

Historical fight for Black history

Recommended revisions

Culture and citizenship curriculum

Black history now