Category: Commerce

MIL-OSI: International Petroleum Corporation Announces First Quarter 2025 Financial and Operational Results

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 06, 2025 (GLOBE NEWSWIRE) — William Lundin, IPC’s President and Chief Executive Officer, comments: “We are pleased to announce another strong quarter of operational and financial performance for Q1 2025. IPC achieved an average net daily production during the quarter of 44,400 barrels of oil equivalent per day (boepd). Our results during the quarter were in line with the 2025 guidance announced at our Capital Markets Day in February as we continue to execute according to plan across our operations in Canada, Malaysia and France. Notably, the transformational Blackrod Phase 1 development project in Canada has progressed substantially during the quarter and forecast first oil is maintained with the original project sanction guidance for late 2026. We also continued with purchases of IPC common shares under the normal course issuer bid, having completed approximately 60% of the current 2024/2025 program between December 2024 to March 2025.”

Q1 2025 Business Highlights

Average net production of approximately 44,400 boepd for the first quarter of 2025, within the guidance range for the period (52% heavy crude oil, 15% light and medium crude oil and 33% natural gas).⁽¹⁾
Continued progressing Phase 1 development activity as well as future phase resource maturation works at the Blackrod asset.
At Onion Lake Thermal, all four planned production infill wells and the final Pad L well pair have been successfully drilled.
3.9 million IPC common shares purchased and cancelled during Q1 2025 and continuing with target to complete the full 2024/2025 NCIB this year.

Q1 2025 Financial Highlights

Operating costs per boe of USD 17.3 for Q1 2025, in line with guidance.⁽³⁾
Operating cash flow (OCF) generation of MUSD 75 for Q1 2025, in line with guidance.⁽³⁾
Capital and decommissioning expenditures of MUSD 99 for Q1 2025, in line with guidance.
Free cash flow (FCF) generation for Q1 2025 amounted to MUSD -43 (MUSD 37 pre-Blackrod capital expenditure).⁽³⁾
Gross cash of MUSD 140 and net debt of MUSD 314 as at March 31, 2025.⁽³⁾
Net result of MUSD 16 for Q1 2025.

Reserves and Resources

Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.⁽¹⁾⁽²⁾
Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.⁽¹⁾⁽²⁾
2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).⁽¹⁾⁽²⁾

2025 Annual Guidance

Full year 2025 average net production guidance range forecast maintained at 43,000 to 45,000 boepd.⁽¹⁾
Full year 2025 operating costs guidance range forecast maintained at USD 18 to 19 per boe.⁽³⁾
Full year 2025 OCF revised guidance estimated at between MUSD 240 and 270 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) from previous guidance of between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).⁽³⁾⁽⁴⁾
Full year 2025 capital and decommissioning expenditures guidance forecast maintained at MUSD 320.
Full year 2025 FCF revised guidance estimated at between MUSD -135 and -110 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) from previous guidance of between MUSD -150 and -80 (assuming Brent USD 65 to 85 per barrel), after taking into account MUSD 230 of forecast full year 2025 capital expenditures relating to the Blackrod asset.⁽³⁾⁽⁴⁾

	Three months ended March 31
USD Thousands	2025	2024
Revenue	178,492	206,419
Gross profit	44,149	55,184
Net result	16,231	33,719
Operating cash flow⁽³⁾	74,790	89,301
Free cash flow⁽³⁾	(43,172)	(43,311)
EBITDA⁽³⁾	70,946	87,020
Net cash/(debt)⁽³⁾	(314,255)	(60,572)

During the first quarter of 2025, oil prices were relatively stable, with Brent prices averaging just below USD 76 per barrel. Following the quarter, commodity prices pulled back with spot Brent rates falling to USD 60 per barrel in April 2025. The physical crude market remained tight throughout the first quarter, prompting OPEC and the OPEC+ group to increase supply ahead of expectations. The timing of the supply increases coincided with the United States proposing harsh tariffs to countries deemed in a trade surplus of US goods. These two events have impacted future crude supply and demand outlooks, in turn weighing on spot and future oil benchmark prices. Despite the poor market sentiment, global inventories remain below the 5-year average, high geopolitical tensions persist, non-OPEC 2025 oil production (namely, in the US) is unlikely to grow at current prices, and US Federal Reserve Bank rate cuts are likely to occur in the near future. IPC prudently supplemented downside protection measures at the beginning of the first quarter of 2025 through financial swap hedging arrangements which in total represent nearly 40% of our forecast 2025 oil production at around USD 76 and USD 71 per barrel for Dated Brent and West Texas Intermediate (WTI), respectively, for the remainder of 2025.

In Canada, WTI to Western Canadian Select (WCS) crude price differentials during the first quarter of 2025 averaged just under USD 13 per barrel, with spot differentials decreasing to around USD 9 per barrel in April 2025. The Western Canadian Sedimentary Basin (WCSB) petroleum producers have greatly benefited from the TMX pipeline expansion with differentials tightening to levels not seen since 2020. There are currently no tariffs on Canadian crude exports to the United States, which remain covered by the US Mexico Canada free trade agreement. IPC has hedged the WTI/WCS differential for approximately 50% of our forecast 2025 Canadian oil production at USD 14 per barrel for 2025.

Natural gas markets in Canada for the first quarter of 2025 remained weak, given the softer than average winter weather conditions and high natural gas storage levels. The average AECO gas price was CAD 2.1 per Mcf for the first quarter of 2025. The forward strip implies improved pricing for Canadian gas benchmark prices, driven by the pending startup of the West Coast LNG Canada project later this year. Approximately 50% of our net long exposure is hedged at CAD 2.4 per Mcf to end October 2025, dropping to around 15% for November and December at CAD 2.6 per mcf.

First Quarter 2025 Highlights and Full Year 2025 Guidance

During the first quarter of 2025, our portfolio delivered average net production of 44,400 boepd, in line with guidance. Operational performance from our producing assets was strong to start the year as high facility and well uptimes were achieved. Drilling activity commenced in the first quarter of 2025 at Onion Lake Thermal, which aims to sustain production levels at the asset for 2025. In Malaysia, drilling and well maintenance works are planned to start in the second quarter of 2025, in line with plan. We maintain the full year 2025 average net production guidance range of 43,000 to 45,000 boepd.⁽¹⁾

Our operating costs per boe for the first quarter of 2025 was USD 17.3, in line with guidance. Full year 2025 operating expenditure guidance of USD 18.0 to 19.0 per boe remains unchanged.⁽³⁾

Operating cash flow (OCF) generation for the first quarter of 2025 was MUSD 75. Full year 2025 OCF guidance is tightened to MUSD 240 to 270 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025).⁽³⁾⁽⁴⁾

Capital and decommissioning expenditure for the first quarter of 2025 was MUSD 99 in line with guidance. Full year 2025 capital and decommissioning expenditure of MUSD 320 is maintained.

Free cash flow (FCF) generation was MUSD -43 (MUSD 37 pre-Blackrod capital expenditure) during the first quarter of 2025. Full year 2025 FCF guidance is tightened to MUSD -135 to -110 (assuming Brent USD 60 to 75 per barrel for the remainder of 2025) after taking into account MUSD 320 of forecast full year 2025 capital expenditures (including MUSD 230 relating to the Blackrod asset).⁽³⁾⁽⁴⁾

As at March 31, 2025, IPC’s net debt position was MUSD 314, from a net debt position of MUSD 209 as at December 31, 2024, mainly driven by the funding of forecast capital expenditures and the continuing share repurchase program (NCIB). Gross cash on the balance sheet as at March 31, 2025 amounts to MUSD 140 and IPC has access to an undrawn Canadian credit facility of greater than 130 MUSD. The access to liquidity supports IPC to follow through on its key strategic objectives of enhancing stakeholder value through organic growth, stakeholder returns, and pursuing value adding M&A.⁽³⁾

Blackrod

During the first quarter of 2025, IPC continued to advance the Phase 1 development of the Blackrod asset. Growth capital expenditure to first oil is maintained at MUSD 850. First oil of the Phase 1 development is estimated to be in late 2026, with forecast net production of 30,000 boepd by 2028. IPC forecasts capital expenditure in 2025 at the Blackrod asset of MUSD 230, of which MUSD 77 was invested in the Phase 1 development project during Q1 2025. Since the transformational organic growth project was sanctioned in early 2023, MUSD 669, or approximately 80% of the total multi-year project capital budget, has been incurred.⁽¹⁾

Project activities for the multi-year Blackrod Phase 1 development have progressed according to plan. Engineering, procurement and fabrication is substantially complete with greater than 90% of all facility modules delivered to site. Equipment installation, piping inter-connects, electrical and instrumentation are the key areas of focus for construction at the Central Processing Facility (CPF) and well pad facilities.

Resource maturation drilling for future phase expansion considerations took place during Q1 2025. Commercial operational readiness planning has ramped up in line with our progressive turnover strategy to ensure a seamless transition from build to start-up. IPC intends to fund the remaining Blackrod capital expenditure with forecast cash flow generated by its operations, cash on hand and drawing under the existing Canadian credit facility if needed.⁽³⁾

Stakeholder Returns: Normal Course Issuer Bid

In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024, 3.7 million common shares during Q1 2025, and a further 0.2 million common shares purchased under other exemptions in Canada. The average price of common shares purchased under the 2024/2025 NCIB during Q1 2025 was SEK 146 / CAD 20 per share.

As at March 31, 2025, IPC had a total of 115,176,514 common shares issued and outstanding and IPC held no common shares in treasury. As at April 30, 2025, IPC had a total of 114,248,119 common shares issued and outstanding and IPC held no common shares in treasury.

Notwithstanding the final major capital investment year at Blackrod in 2025, IPC had purchased and cancelled 73% of the maximum 7.5 million common shares allowed under the 2024/2025 NCIB by the end of April 2025 and intends to purchase and cancel the remaining 2.0 million common shares under that program in 2025. This would result in the cancellation of 6.2% of common shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding in combination with investing in long-life production growth at the Blackrod project will prove to be a winning formula for our stakeholders.

Environmental, Social and Governance (ESG) Performance

During the first quarter of 2025, IPC recorded no material safety or environmental incidents.

As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. IPC has also made a commitment to maintain 2025 levels of 20 kg CO₂/boe through to the end of 2028.⁽⁵⁾

Notes:

	(1)	See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the annual information form for the year ended December 31, 2024 (AIF) available on IPC’s website at www.international-petroleum.com and under IPC’s profile on SEDAR+ at www.sedarplus.ca.
	(2)	See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value (NPV), are described in the AIF. NAV is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
	(3)	Non-IFRS measures, see “Non-IFRS Measures” below and in the MD&A.
	(4)	OCF and FCF forecasts at Brent USD 60 and 70 per barrel assume Brent to WTI differential of USD 3 and 5 per barrel, respectively, and WTI to WCS differential of USD 10 and 15 per barrel, respectively, for the remainder of 2025. OCF and FCF forecasts assume gas price on average of CAD 2.25 per Mcf for the remainder of 2025.
	(5)	Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

For further information, please contact:

Rebecca Gordon SVP Corporate Planning and Investor Relations rebecca.gordon@international-petroleum.com Tel: +41 22 595 10 50	Or	Robert Eriksson Media Manager reriksson@rive6.ch Tel: +46 701 11 26 15

This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CEST on May 6, 2025. The Corporation’s unaudited interim condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months ended March 31, 2025 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

Forward-Looking Statements
This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements include, but are not limited to, statements with respect to:

2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
The ability to fully fund future expenditures from cash flows and current borrowing capacity;
IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
The continued facility uptime and reservoir performance in IPC’s areas of operation;
Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
The ability to maintain current and forecast production in France and Malaysia;
The intention and ability of IPC to acquire further Common Shares under the NCIB, including the timing of any such purchases;
The return of value to IPC’s shareholders as a result of the NCIB;
IPC’s ability to implement its greenhouse gas (GHG) emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
Estimates of reserves and contingent resources;
The ability to generate free cash flows and use that cash to repay debt;
IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
IPC’s ability to identify and complete future acquisitions;
Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, tariffs, and ongoing projects and their expected completion; and
Future drilling and other exploration and development activities.

Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: the potential impact of tariffs implemented in 2025 by the U.S. and Canadian governments and that other than the tariffs that have been implemented, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including the war between Ukraine and Russia and the conflict in the Middle East, and their potential impact on, among other things, global market conditions; political or economic developments, including, without limitation, the risk that (i) one or both of the U.S. and Canadian governments increases the rate or scope of tariffs implemented in 2025, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S. on other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Corporation; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory”), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2024, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

Estimated production and FCF generation are based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, less net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the AIF. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

Non-IFRS Measures
References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

Operating cash flow
The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

	Three months ended March 31
USD Thousands	2025	2024
Revenue	178,492	206,419
Production costs and net sales of diluent to third party ¹	(103,188)	(115,745)
Current tax	(514)	(1,373)
Operating cash flow	74,790	89,301

¹Includes net sales of diluent to third party amounting to USD 191 thousand for the first quarter of 2025.

Free cash flow
The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

	Three months ended March 31
USD Thousands	2025	2024
Operating cash flow – see above	74,790	89,301
Capital expenditures	(98,886)	(125,256)
Abandonment and farm-in expenditures¹	(321)	(122)
General, administration and depreciation expenses before depreciation²	(4,358)	(3,653)
Cash financial items³	(14,397)	(3,581)
Free cash flow	(43,172)	(43,311)

¹ See note 16 to the Financial Statements
² Depreciation is not specifically disclosed in the Financial Statements
³ See notes 4 and 5 to the Financial Statements

EBITDA
The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

	Three months ended March 31
USD Thousands	2025	2024
Net result	16,231	33,719
Net financial items	18,855	9,770
Income tax	4,679	7,746
Depletion and decommissioning costs	29,016	33,153
Depreciation of other tangible fixed assets	1,917	2,262
Exploration and business development costs	31	75
Sale of assets ¹	(94)	–
Depreciation included in general, administration and depreciation expenses ²	311	295
EBITDA	70,946	87,020

¹ Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements
² Item is not shown in the Financial Statements

Operating costs
The following table sets out how operating costs is calculated:

	Three months ended March 31
USD Thousands	2025	2024
Production costs	103,379	115,745
Cost of blending	(37,726)	(45,206)
Change in inventory position	3,500	5,277
Operating costs	69,153	75,816

Net cash/(debt)
The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

USD Thousands	March 31, 2025	December 31, 2024
Bank loans	(4,449)	(5,121)
Bonds¹	(450,000)	(450,000)
Cash and cash equivalents	140,194	246,593
Net cash/(debt)	(314,255)	(208,528)

¹ The bond amount represents the redeemable value at maturity (February 2027).

Reserves and Resources Advisory
This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the AIF. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd.

IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

Supplemental Information regarding Product Types

The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:


	Heavy Crude Oil (Mbopd)	Light and Medium Crude Oil (Mbopd)	Conventional Natural Gas (per day)	Total (Mboepd)
Three months ended
March 31, 2025	23.2	6.5	88.2 MMcf (14.7 Mboe)	44.4
March 31, 2024	24.9	7.9	96.0 MMcf (16.0 Mboe)	48.8
Year ended
December 31, 2024	23.9	7.7	95.1 MMcf (15.8 Mboe)	47.4

This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 52% of that production will be comprised of heavy oil, approximately 15% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

Currency
All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars and to MUSD mean millions of United States dollars. References herein to CAD mean Canadian dollars.

The MIL Network –

May 6, 2025

MIL-OSI USA: Rep. Gregory W. Meeks Votes No on Devastating Financial Services Reconciliation Bill

Source: United States House of Representatives – Congressman Gregory W Meeks (5th District of New York)

Washington, D.C. – Today, Congressman Gregory W. Meeks (NY-05) issued the following statement after the Financial Services Committee passed a Budget Reconciliation bill that defunds the Consumer Financial Protection Bureau and slashes vital federal services.

“Today, I voted no on the Budget Reconciliation bill in the Financial Services Committee. This measure makes dramatic funding cuts to the Consumer Financial Protection Bureau (CFPB), eliminates oversight of the auditors that review the books of Trump’s billionaire friends, and ends funding for energy efficient and climate resilient upgrades to America’s housing supply.

“The CFPB is responsible for protecting consumers in both red and blue districts on everything from surprise overdraft fees to banning excessive credit card late fees.

“Congress created the CFPB after the financial crisis to make sure that greed and corruption never again devastate families the way it did in 2008. Protecting the American people from bad actors like Trump and his billionaire buddies who want to scam hardworking families to make a profit.

“Since the agency’s inception, it has returned more than $21 billion back to servicemembers, veterans, students, and working families who’ve been ripped off. Sadly, by voting for today’s bill, my Republicans colleagues are telling their constituents loud and clear that they care more about protecting their friends on Wall Street than the people who voted to send them here.”

###

MIL OSI USA News –

May 6, 2025
MIL-OSI Security: Utah County Man Sentenced to Prison for Affinity Fraud Scheme that Scammed Over $5M from Alpha Influence Investors

Source: Office of United States Attorneys

SALT LAKE CITY, Utah – Kole Glen Brimhall, 27, of Orem, Utah, was sentenced today to 12 months’ and one day imprisonment after he defrauded approximately 135 investors through the sale of a fraudulent investment offered through Alpha Influence, LLC, a registered Utah company. Brimhall was also sentenced to three years’ supervised release, and ordered to pay a forfeiture money judgement in the amount of $1,097,709.82 and $5,003,400 in restitution to the victims.

The sentence, imposed by U.S. District Court Judge David Sam, comes after Brimhall pleaded guilty on November 18, 2024, to fraud in the offer and sale of securities. See prior press release: Utah Sales Agent Admits to Defrauding Clients of More than $4.9M.

According to court documents and statements made at the defendant’s change of plea and sentencing hearings, from March 2020 to June 2022, Brimhall sold fraudulent investment security contracts for Alpha Influence. As part of the scheme, Brimhall and others aggressively promoted, primarily through social media, that purchasing the Alpha Influence investment would generate life-changing passive income for investors in a very short amount of time exclusively through the efforts of the “Alpha Influence Team.”

As team lead within the Alpha Influence sales structure, Brimhall was responsible for the sale of approximately 135 Alpha investments to individual investors and received $1,097,709.82 in verified commissions for those fraudulent sales.

“Brimhall’s participation in defrauding investors not only left investors in financial devastation, but with a loss of trust that can have a lifelong impact in their personal and professional life,” said Acting U.S. Attorney Felice John Viti of the U.S. Attorney’s Office for the District of Utah. “It is our hope that by prosecuting these crimes, we will deter others from participating in affinity fraud schemes in our communities.”

“This $20 million fraud, driven by bold displays and false promises shared on social media, caused significant harm to over 500 Utahns,” says Executive Director of the Utah Department of Commerce, Margaret Busse. “Today’s sentence sends a clear message: such predatory actions will not be tolerated, and we stand firmly committed to protecting Utah investors. Fraudulent activities like this erode public trust in legitimate investments and undermine the very foundations of our financial system. I’m proud of the hard work and collaboration between our Utah Division of Securities, the U.S. Attorney General’s Office, and the FBI that went into bringing these individuals to justice.”

“Many of the victims in this case are members of the working class who have the least margin for loss. Yet the defendant shamelessly used their hard-earned money on fancy cars and extravagant vacations,” said Special Agent in Charge Mehtab Syed of the Salt Lake City FBI. “While fraud schemes are not violent in nature, they can be financially and emotionally devastating. The FBI is dedicated to holding accountable those who profit through deception.”

The case was investigated jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office.

Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams of the U.S. Attorney’s Office for the District of Utah prosecuted the case.

MIL Security OSI –

May 6, 2025
MIL-OSI: KH Group Plc’s Business Review January–March 2025: Moderate growth and improving profitability
Source: GlobeNewswire (MIL-OSI)

KH Group Plc
Stock Exchange Release 6 May 2025 at 8:00 am EEST

KH Group Plc’s Business Review January–March 2025: Moderate growth and improving profitability

This is the summary of the Business Review for January–March 2025. The full Half-Year Report is attached to this release and is also available on the company’s website at www.khgroup.com.

KH Group, January–March 2025 IFRS
- Net sales amounted to EUR 41.8 (40.4) million. HTJ and Indoor have been retrospectively classified as discontinued operations.
- Comparable operating profit was EUR 0.2 (-0.1) million.
- Operating profit was EUR -0.1 (-0.5) million.
- Net profit for the period from continuing operations was EUR -0.4 (-1.7) million.
- Earnings per share (undiluted and diluted) from continuing operations were EUR -0.01 (-0.03).
- Equity per share at the end of the review period was EUR 0.85 (1.30).
- Return on equity for rolling 12 months was -43.4% (-19.2%).
- The Group’s cash and cash equivalents amounted to EUR 4.5 million at the end of the review period.
- Gearing at the end of the review period was 291.3% (225.3%).
- Gearing excluding lease liabilities was 187.9% (141.6%).
CEO Ville Nikulainen:

“The Group’s net sales and operating profit from continuing operations increased moderately year-on-year during the January–March review period. KH-Koneet’s net sales and operating profit increased in both Finland and Sweden in spite of the weakened market situation. Sales of heavy crawler excavators in Finland, in particular, grew significantly year-on-year. Nordic Rescue Group’s net sales declined, but operating profit for the first quarter was on a par with the comparison period. The financial situation of the wellbeing services counties became clearer after the turn of the year and, as a result, the order book for Nordic Rescue Group’s operations in Finland strengthened during the review period. In Sweden, the demand for rescue vehicles has remained at a good level.

In Indoor Group, the general uncertainty in the market continued to have a negative impact on net sales and operating profit. The extensive operating model reform programme to improve Indoor Group’s profitability targets an annual improvement in operating profit of at least EUR 10 million by the end of 2026. A significant part of the targeted profitability improvement is estimated to be realised already during 2025. The change negotiations concluded in December 2024 will generate annual savings in wage costs of approximately EUR 6–7 million, which will improve the company’s result significantly already during the second quarter.

As a strategic measure, KH Group announced in March 2024 that it had initiated a sale process for Indoor Group. KH Group has engaged a financial advisor to explore various options for its Indoor Group shareholding. No final decision has been made on the sale of Indoor Group holdings and there is no certainty as to the timing, terms or completion of any such transaction. KH Group aims to complete the process during 2025. Another strategic step was completed in March 2025 as KH Group acquired the remaining KH-Koneet Group Oy minority shares in accordance with the shareholder agreement and KH-Koneet is now a fully-owned subsidiary of KH Group. The purchase price of the shares was EUR 2.0 million.

In 2025, the business areas will focus on securing net sales and operating profit as well as improving the efficiency of working capital. KH Group’s change in strategy is being advanced according to plan.”

Events after the review period

The Board of Directors of KH Group Plc decided to establish a performance-based share scheme for key employees of KH-Koneet. The plan replaces the performance-based matching share plan announced on 31 May 2024. The purpose of the new scheme is to align the goals of shareholders and key employees in order to increase the company’s shareholder value in the long term, guide the key employees to achieve the company’s strategic objectives, engage their commitment to the company and offer them a competitive incentive scheme based on the earning and accrual of KH Group shares. The performance-based share scheme has one (1) performance period of two (2) years, corresponding to the financial periods 2025–2026. The scheme provides key employees with the opportunity to earn KH Group shares based on performance

Financial objectives and future outlook

KH Group’s objective is to become an industrial group built around the KH-Koneet business and to divest other business areas in line with the Group’s strategy. At the same time, active developments will continue regarding other business areas. Exit planning and the assessment of exit opportunities for the other business areas will also continue.

During the next few years, the aim is to invest in the growth of the core business and pay dividends after significant exits within the limits established by the balance sheet structure and financing agreements.

The guidance with the current Group structure of continuing operations for 2025 is as follows: the company estimates that both the net sales (EUR 194.0 million) and the comparable operating profit (EUR 7.2 million) will remain approximately at the same level year-on-year.

KH GROUP PLC

Ville Nikulainen
CEO

FURTHER INFORMATION:
CEO Ville Nikulainen, tel. +358 400 459 343

DISTRIBUTION:
Nasdaq Helsinki Ltd
Major media
www.khgroup.com

KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Nordic Rescue Group and Indoor Group. We are a leading supplier of construction and earth-moving equipment, rescue vehicle manufacturer as well as furniture and interior decoration retailer. The objective of our strategy is to create an industrial group around the business of KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.

Attachment
- KH Group Plc – Business Review Q1_2025
The MIL Network –
May 6, 2025
MIL-OSI New Zealand: Once were (AI) sceptics

Source:

The Haps

David Seymour’s speech to the Tauranga Business Chamber has been widely praised. More would get done if the Government had fewer Ministers. Parliament comes out of a three-week recess into three weeks of sitting that will culminate in the Budget on May 22nd. For years ACT published Alternative Budgets showing how the Government could afford two per cent of GDP on Defence. Now two per cent is happening and the weekend’s helicopter announcement is just the beginning. Meanwhile a journalist wrongly accused Free Press of ‘misinformation’ while trying to defend media standards. We are not making this up.

Once were (AI) sceptics

The future’s always been a bit disappointing when we get to it, like for those of us who are STILL waiting for flying cars. (Nerdy) children of the ‘90s grew up watching Beyond 2000, a weekly program devoted to the technologies that would change our lives in the next millennium if we survived Y2K. The same program wouldn’t work today, people would roll their eyes at the earnestness of it all.

At Free Press, we’ve kept off the Artificial Intelligence bandwagon, maybe because we’ve lived long enough to be a little sceptical. We never lost hundreds of thousands of lives to COVID, and neither did countries with far more relaxed policies towards it. Climate change was supposed to bring apocalypse by 2010, and 2020 was too scary to think about, according to the usual suspects. Yet, here we all are.

Most of the people who go on endlessly about AI couldn’t even give you a short, sharp definition of what it is. They can’t explain why it is more than just another software development. The eighties gave us spreadsheets, the nineties email, and the noughties social networks. All of them had an effect, but they haven’t transformed life as we know it.

What’s more, it was kind of a toy, as recently as a year ago, the hype of ChatGPT had come and gone. People found it too often ‘hallucinated’ firing out such crazy solutions that you definitely wouldn’t use it for anything important. So, what’s changed?

In the last year the progress has been staggering, and it’s the rate of change itself that stands out. By now MPs could ask Chat GPT, Perplexity, or Grok for advice, on say, a briefing to a select committee from officials. It could produce a set of policy proposals according to different levels of political ambition while the officials are still speaking. The level of intelligence and nuance is extraordinary, and the rate of change more so.

For business, the opportunities are extraordinary. We don’t pretend to give businesspeople advice, too many people in the political world think they’re business experts. What we do know is that tasks such as interacting with customers can have massive labour savings. An online doctor consultation can be summarised with perfect notes produced before the patient is out the clinic door. It’s all very exciting.

What about education? Twelve-year-olds are saying their main source of information is ChatGPT or Perplexity. If they want to know something they don’t Google it, they don’t watch the news and they certainly don’t get a book from the library. They ask an AI program and talk to it like a virtual friend.

That sets off a lot of questions. Where is the ability to think for themselves? If they can get an answer to any question in seconds, do they need to know anything? If AI can solve all their problems, what space remains for humans? Is it schools’ jobs to prepare them to live in this world, and are schools remotely equipped to do so?

Where do the blunt bans on mobile phones and social media for young people fit in? Do they preserve a human sphere so kids can get to know themselves without dependence on machines, or do they leave kids even more naive and unprepared to live in that world?

If that’s education, how about the public service? They’ve always been slow to take on technology. They’re sclerotic thanks to fear of privacy laws. Yet at the same time the public sector has been eating money for too long and badly needs productivity growth.

We once were sceptics, but the last year of progress has changed our mind. AI is big. It’s at least as big as spreadsheets, emails, and online social networks. With the Chinese Government reported to be making AI a compulsory subject for six-year-olds this year, New Zealand policy will need to raise its sights from its usual debates and ask what our philosophy on AI is…

MIL OSI New Zealand News –

May 6, 2025
MIL-OSI Russia: In January-March 2025, the volume of direct non-financial investments by Chinese companies in countries participating in the Belt and Road Initiative increased by 15.6 percent.

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, May 6 (Xinhua) — Non-financial direct investment by Chinese companies in countries participating in the Belt and Road Initiative increased by 15.6 percent in the first quarter of 2025 compared with the same period in 2024, data from the Ministry of Commerce shows.

According to the agency, the volume of direct non-financial investments in the above-mentioned countries during the reporting period in dollar terms amounted to USD 8.87 billion.

The volume of transactions under contracting projects implemented by Chinese companies in countries participating in the Belt and Road Initiative during the period amounted to US$27.52 billion, an increase of 4.1 percent year-on-year.

In addition, domestic enterprises concluded new contracting contracts worth USD 47.14 billion in these countries. The increase in this indicator was 16.3 percent.

Recall that last year, the volume of direct non-financial investments by Chinese companies in countries participating in the Belt and Road initiative increased by 5.4 percent year-on-year to USD 33.69 billion. -0-

MIL OSI Russia News –

May 6, 2025
MIL-OSI USA: News 05/5/2025 Blackburn Praises Commerce Committee’s Passage of Her Bills to Protect Consumers in the Online Ticket Marketplace and Enhance 9-1-1 Emergency Response System

US Senate News:

Source: United States Senator Marsha Blackburn (R-Tenn)
WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn.) released the following statement after her bipartisan Mitigating Automated Internet Networks for (MAIN) Event Ticketing Act to strengthen consumer protections in the online ticket marketplace and Enhancing First Response Act to update the classification of 9-1-1 dispatchers passed out of the Senate Commerce Committee:
“Fans shouldn’t have to fight bots and scammers when trying to buy tickets online, and I’m thrilled the Commerce Committee has moved the MAIN Event Ticketing Act one step closer to becoming law so we can protect consumers in the online ticket marketplace. The Commerce Committee also passed my bipartisan Enhancing First Response Act, which would make important updates to our 9-1-1 emergency reporting system and prevent service disruptions,” said Senator Blackburn.
MAIN EVENT TICKETING ACT
In 2016, President Obama signed Senator Blackburn’s legislation, the Better Online Ticket Sales (BOTS) Act, into law, which prohibits ticket scalpers from using software to purchase high volumes of tickets.
Creating reporting requirements whereby online ticket sellers must report successful bot attacks to the Federal Trade Commission (FTC);
Requiring the FTC to share consumer complaints submitted through their website to state attorneys general;
Enacting data security requirements for online ticket sellers and requires the sharing of information between the FTC and law enforcement; and
Requiring a report to Congress on BOTS enforcement.
The MAIN Event Ticketing Act is co-sponsored by U.S. Senator Ben Ray Luján (D-N.M.).
Click here for bill text.
ENHANCING FIRST RESPONSE ACT
The Enhancing First Response Act would:
Update the classification of 9-1-1 dispatchers in the Standard Occupational Classification (SOC) from clerical workers to protective service workers to better reflect life-saving work performed by them each day;
Require the Federal Communications Commission (FCC) to hold an annual hearing and issue a report after major natural disasters on 9-1-1 unreachability and make recommendations to improve the resiliency of 9-1-1 systems to prevent future service disruptions;
Require the FCC to study unreported 9-1-1 outages and develop recommendations to improve outage reporting and communication between mobile carriers experiencing network outages and 9-1-1 centers.
The Enhancing First Response Act is sponsored by U.S. Senator Amy Klobuchar (D-Minn.).
Click here for bill text.
RELATED

MIL OSI USA News –

May 6, 2025
MIL-OSI New Zealand: Daily progress for Thursday, 10 April 2025

Source:

Order Paper for Thursday, 10 April 2025

2.00pm

Business statement

Hon Chris Bishop, Leader of the House, made a statement about the business of the House for the sitting week commencing on Tuesday, 6 May 2025.

Government motion

A motion acknowledging Claire Trevett’s service in the Press Gallery was agreed to.

Introduction of bills

The following bills were introduced:

Oral questions

Twelve questions to Ministers were answered.

Government Business

The second reading of the Principles of the Treaty of Waitangi Bill was not agreed to.

The Medicines Amendment Bill was read a first time and referred to the Health Committee to be reported by 4 months and 1 day after the bill received its first reading.

The United Arab Emirates Comprehensive Economic Partnership Agreement Legislation Amendment Bill was read a first time and referred to the Foreign Affairs, Defence and Trade Committee.

The report of the Foreign Affairs, Defence and Trade Committee, International treaty examination of the NZ – UAE Comprehensive Economic Partnership Agreement, and Agreement between the Government of New Zealand and the Government of the United Arab Emirates on the Promotion and Protection of Investments, was noted.

The debate on the first reading of the Education and Training Amendment Bill (No 2) was interrupted with 10 speeches remaining.

Adjournment

At 6.00pm the House adjourned.

MIL OSI

MIL OSI New Zealand News –

May 6, 2025
MIL-OSI USA: Cantwell, Colleagues Demand DOJ Reverse Cancellation of Hundreds of Public Safety Grants

US Senate News:

Source: United States Senator for Washington Maria Cantwell
05.05.25
Cantwell, Colleagues Demand DOJ Reverse Cancellation of Hundreds of Public Safety Grants
Trump Administration seeks to cut $55 million in grant funding for six Washington state public safety programs
WASHINGTON, D.C. – U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined nearly 30 Democratic senators in sending a letter to the Department of Justice (DOJ) urging Attorney General Pam Bondi and Deputy Assistant Attorney General Maureen Henneberg to reverse the abrupt cancellation of hundreds of public safety grants that serve crime victims and improve public safety in communities across the country. The Trump Administration is attempting to cut grant funding for 365 programs nationwide, including cutting $55 million in grant funding for six Washington state public safety and victim service programs. The letter also instructs DOJ to provide information about its decision to cancel the grants.
“On April 22, the Department of Justice’s (DOJ) Office of Justice Programs (OJP) notified hundreds of grant recipients across the country, without warning, that their funding had been terminated, effective immediately. Many of these grants are authorized by Congress and support programs that have enhanced public safety in communities rural and urban, affluent and poor, Democratic and Republican. While this Administration continues to market itself as the administration of law and order and public safety, DOJ has decided to defund programs that prosecutors, police and sheriff’s departments, judges, mental health service providers, academics, and more depend on to advance the Department’s longstanding ‘core mission of keeping Americans safe and vigorously enforcing the law,’” the Senators wrote.
“Based on public reporting, outreach from grantees, and a DOJ Justice Management Division (JMD) spreadsheet (Encl. 1), it appears that the Department defunded at least 365 public safety grants on April 22, 2025. A review of this information reveals that these grants provide support for victims of crime and resources for communities to ensure public safety,” the Senators continued.
For example, with these grant terminations, the Department has defunded programs that support victims of crime, combat rape in prison, assist people with mental health disorders, reduce and prevent violence, and support successful reentry. These examples offer only a sample of the critical funding that DOJ abruptly terminated. In Washington state, DOJ cancelled six grants totaling over $55 million. These grants included:
Three awards worth over $48 million to the National CASA Association to train court appointed special advocates (CASA) who represent abused and neglected children in legal proceedings.
Two awards totaling $6 million to the Children and Youth Justice Center to prevent violent crime by creating on-the-ground partnerships with community members, law enforcement, victim service providers, and other local stakeholders.
One award worth $250,000 to the Washington State Department of Corrections to reduce sexual abuse in state correctional facilities.
“The magnitude of these defunding measures, Congress’ role in authorizing and appropriating grant funds, and the negative impacts that the sudden termination of funding will have on public safety in communities across the country, requires the immediate review of the processes and decisions that led to the cancellation of these critical grants,” the Senators wrote.
The Senators requested answers to nine questions about the cancellations, including whether the Department has reallocated the money to other programs and how officials determined which grants should be cancelled.
A DOJ JMD spreadsheet lists 365 grants totaling $811 million that were terminated on April 22.
Does this spreadsheet represent the entire universe of grants that were terminated?
Are there grants that were terminated that are not reflected on the list? If so, provide the information in every column for these grants.
Which grants that were terminated on April 22 have since been restored? For each grant restored, please provide the reason for its restoration.
How were the grants that were terminated chosen? What were the factors considered in making the determination to terminate? Where the affected grantees were state or local jurisdictions, did the political party of state or local officials in those jurisdictions influence the determination to terminate?
Were there entire categories of grants that were terminated? If so, provide the categories.
What is the legal basis for terminating grant funds that are statutorily required?
Has DOJ reallocated the funds it rescinded on April 22? Provide any specific programs or purposes to which these funds will be reallocated.
Will DOJ terminate any more grants, from any of its funding components, that have been obligated or are in cycle? If so, provide the grant-making component and the grants that will be terminated or are under consideration to be terminated.
Was former Tesla employee turned-DOGE staffer Tarak Makecha solely responsible for selecting which grants to terminate? Provide the names of all individuals within DOJ who reviewed or approved the cancellation of the grants.
Did any White House officials review the grants to be terminated or otherwise have any involvement in the decision to terminate the grants? Provide their names.
“Additionally, we advise that the Department restore immediately the grants terminated on April 22. The cursory termination of these programs imperils the public safety of the victims and communities that rely on these critical resources,” the Senators concluded.
The letter was led by U.S. Senator Cory Booker (D-NJ) and is cosigned by Senators Chuck Schumer (D-NY), Dick Durbin (D-IL), Mazie Hirono (D-HI), Chris Coons (D-DE), Amy Klobuchar (D-MN), Richard Blumenthal (D-CT), Alex Padilla (D-CA), Adam Schiff (D-CA), Sheldon Whitehouse (D-RI), Peter Welch (D-VT), Andy Kim (D-NJ), Elizabeth Warren (D-MA), Ruben Gallego (D-AZ), Raphael Warnock (D-GA), Tim Kaine (D-VA), Ben Ray Lujan (D-NM), Ron Wyden (D-OR), Kirsten Gillibrand (D-NY), Jeanne Shaheen (D-NH), Chris Van Hollen (D-MD), Patty Murray (D-WA), Brian Schatz (D-HI), Ed Markey (D-MA), Jack Reed (D-RI), Bernie Sanders (I-VT), Gary Peters (D-MI), and Chris Murphy (D-CT).
The full text of the letter is available HERE.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Tillis Applauds New NC State Directors for the Farm Service Agency and Rural Development

US Senate News:

Source: United States Senator for North Carolina Thom Tillis

WASHINGTON, D.C. – Today, Senator Thom Tillis applauded the announcement from Secretary of Agriculture Brooke Rollins that Ron Garrett has been appointed as State Executive Director of the North Carolina Farm Service Agency and Robert Hosford has been appointed as State Director of North Carolina Rural Development.

“Ron and Robert are fantastic choices to lead the NC Farm Service Agency and Rural Development,”said Senator Tillis. “I was proud to advocate on behalf of both of them and I look forward to working with them to support North Carolina’s farmers and rural communities.”

Background:

Ron Garrett will serve as the State Executive Director for the Farm Service Agency in North Carolina. Most recently Ron served as a County Executive Director for FSA for over 33 years. Ron earned his Bachelor of Science degree in Agricultural Business Management from North Carolina State University.

Robert Hosford will serve as State Director for Rural Development in North Carolina, a position he held during President Trump’s first term. In 2003 he was appointed the Chief of Staff for the USDA Farm Service Agency through 2009. After earning a B.S. from Mississippi State University, Hosford relocated to Washington D.C., as a part of the Government Affairs team for the National Cattlemen’s Beef Association.

MIL OSI USA News –

May 6, 2025
MIL-OSI New Zealand: Social Media Bill Should Be Government Bill

Source: E-Commerce arrangement with China to boost Digital Exports

MEDIA RELEASE – 6 May 2025

Family First welcomes the introduction of a Social Media Age-Appropriate Users Bill by Catherine Webb, the National MP for Tukituki, which makes it a legal requirement for social media companies to verify users are sixteen years or older.

However, with the supposed backing of the Prime Minister Christopher Luxon and the National Party, Family First is asking why this Bill is being left to the luck of the members bills’ ballot and not made a government Bill?

“If as Ms Webb and Mr Luxon say in their introductory comments that this is intended to protect young people from bullying, inappropriate content and social media addiction, then why is it not a government priority which would actually see the idea made into law, or at the very least have a parliamentary & public discussion via a Select Committee process?” asks Bob McCoskrie, CEO of Family First.

Family First has long advocated for better regulation of social media and support for parents so as to protect young people.

“First and foremost, there needs to be a community response where parents unite to ensure their young children are not exposed to social media, but there is also room for government support to empower parents,” says Mr McCoskrie.

Dr Jonathan Haidt – author of “The Anxious Generation: How the Great Rewiring of Childhood is Causing an Epidemic of Mental Illness” – notes in his acclaimed research that there is a clear correlation between the introduction of smart phones and a significant decline in young people’s mental health. (Dr Haidt was a guest at last year’s Forum on the Family and he called on New Zealand and other countries to do more to protect young people from the harms online.)

In Australia, a Guardian newspaper poll last year found that almost 70% wanted age limit raised from 13 years to 16 years when it came to social media. Of this, 44% strongly supported the idea and 24% were somewhat supporting it. Only 14% opposed the notion and 17% were unsure.

In the US State of Virginia, legislation has just passed ensuring social media companies limit under sixteen year olds to a maximum of one hour of scrolling a day.

Family First thanks Catherine Wedd for drafting the Bill but once again calls on all the coalition parties in the Government (ACT and NZ First) to adopt the bill as a Government bill and ultimately walk the talk when it comes to protecting children online.

“This important discussion needs to be a priority for the Government and not left in a biscuit tin.”

MIL OSI New Zealand News –

May 6, 2025
MIL-OSI China: Holiday inbound tourism thrives

Source: People’s Republic of China – State Council News

China’s inbound tourism market saw strong recovery and growth during the just-concluded May Day holiday, with smaller cities attracting more foreign visitors seeking cultural experiences, according to industry insiders.

During the five-day break, inbound travel bookings surged 130 percent from a year earlier, said Trip.com Group, China’s largest online travel agency. While top-tier cities such as Beijing and Shanghai remained popular, destinations including Chengdu in Sichuan province, Chongqing, Hangzhou in Zhejiang province, Zhuhai in Guangdong province, and Xi’an in Shaanxi province also made the list of top inbound choices.

China has been opening its doors wider to international travelers. In 2024, the country expanded its unilateral visa-free policy to include 38 countries, allowing visits of up to 30 days, according to the National Immigration Administration.

Favorable tax refund policies have also boosted inbound travel. In late April, China lowered the tax refund threshold from 500 yuan ($68.80) to 200 yuan and raised the cash refund limit from 10,000 yuan to 20,000 yuan. There is no limit on refunds processed by bank transfer, according to a guideline issued by the Ministry of Commerce and five other departments.

“We encourage relevant institutions to provide tax refund services through various means such as mobile payments, bank cards and cash, and to better meet the diverse payment service needs of overseas travelers,” said Sheng Qiuping, vice-minister of commerce, at a recent news conference in Beijing.

During the holiday, tourists from the United States, South Korea and Japan made up the largest share of inbound visitors. The number of travelers from Australia, Vietnam and Canada also rose significantly, according to Beijing-based travel platform Qunar.

Foreign visitors are venturing beyond major cities. Hotel bookings by foreign tourists in Zhuhai rose 70 percent year-on-year, while Qingdao in Shandong province and Wuhan in Hubei province saw increases of 60 percent and 50 percent, respectively, Qunar reported.

China’s picturesque landscapes and rich culinary culture have frequently been featured in South Korean TV dramas and variety shows, piquing travel interest. The May Day holiday also coincides with a public holiday in South Korea, encouraging young travelers to visit China.

South Korea’s leading travel agency, Hana Tour, said January trips to China rose 77 percent year-on-year, outpacing a 20 percent increase for trips to Japan. The surge was mainly driven by China’s visa-free policy.

Major South Korean airlines have responded by expanding their international flight offerings to China to meet rising demand.

Meanwhile, more foreign visitors are seeking immersive cultural experiences in rural areas. A Trip.com resort in Zhangjiajie, Hunan province, reported a surge in bookings from tourists from the US, Italy and Spain since April.

“Besides sightseeing, foreign tourists have shown increasing interest in in-depth tours and diverse experiences, such as participating in farming activities and attending ethnic concerts,” said Fang Zexi, a Trip.com Group researcher.

Their cultural curiosity extends into everyday life. In Chengdu, a popular southwestern city, more foreign visitors are booking culinary experiences, visits to local farmers’ markets, cooking sessions, table presentations and food tasting, Trip.com said.

In the first three days of the holiday, more than 5,700 inbound passenger trips were recorded by Chengdu’s border inspection authority, a year-on-year increase of over 170 percent, according to the Sichuan provincial entry and exit bureau.

MIL OSI China News –

May 6, 2025
MIL-OSI New Zealand: Politics and Business – Pay equity improvement supported – BusinessNZ

Source: BusinessNZ

BusinessNZ supports amending the pay equity process to make it more transparent, evidence-based, and more able to achieve robust settlements.

BusinessNZ Chief Executive Katherine Rich says the current process is bringing large anomalies between the public and private sectors, in effect leading to new equity problems – between those employed in the public sector and those in the private sector.

“Increases in public health sector remuneration have created difficulties in the private sector where they can’t afford those pay rates. Where those private sector employers receive government funding for some services, it is not enough to cover the contracted services they provide. As a result, they are losing staff, suffering from industrial action and face problems in delivering their contracted work.

“These outcomes indicate that the pay equity process needs attention.

“Current problems include unclear evidence for some pay equity claims, a lack of transparency around choice of comparators for the pay equity process, and insufficient incentives for the bargaining parties to resolve pay equity claims themselves, without recourse to the government.

“BusinessNZ supports a review of the settings for pay equity claims, in the interests of fairness and a more balanced economy,” Mrs Rich said.

The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

MIL OSI New Zealand News –

May 6, 2025
MIL-OSI USA: During National Small Business Week, Ernst Names Small Business of the Week, Nimrod Meats

US Senate News:

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

RED OAK, Iowa – During National Small Business Week, U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business Committee, today announced her Small Business of the Week: Nimrod Meats of Hardin County. Throughout the 119th Congress, Chair Ernst plans to recognize a small business in every one of Iowa’s 99 counties.
“To kick off National Small Business Week, I’m honored to recognize Iowa Falls’ Nimrod Meats. Founded in 2022 by the Damiano family, this small business has grown into a cornerstone of Hardin County that offers fresh cuts of meat, local honey, and more,” said Chair Ernst. “This full-service meat processor, locker, and farm-to-table retail market continues to meat the needs of Iowans while beefing up community processing capabilities across Iowa.”
In 2022, Marine Corps veteran Rocky Damiano and his wife, Karla, established Nimrod Meats to provide a full-service meat processing facility for local farmers, hunters, and families in central Iowa. The 9,800-square-foot facility offers custom and third-party meat processing, specialized packaging, and a farm-to-table retail market. The market features artisan goods and health-focused products, many of which are sourced from other small businesses across Iowa. The family-run and veteran-owned operation continues to grow its footprint, delivering premium products across the state of Iowa. Later this month, Nimrod Meats will celebrate its third anniversary.
Stay tuned as Chair Ernst recognizes more Iowa small businesses across the state with her Small Business of the Week award.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Rep. Hill Fights to Turn Vacant Federal Building into Community Space in Perry County

Source: United States House of Representatives – Congressman French Hill (AR-02)

WASHINGTON, D.C. — Today, Congressman French Hill (AR-02) has introduced legislation to direct the Secretary of Agriculture to convey a vacant U.S. Forest Service building and its surrounding land in Perryville, Arkansas, to Perry County.

Rep. Hill said, “For years, this building has sat empty when the people of Perry County could have put it to good use. My bill will change that. By transferring it to the county, it will give the community the space it needs for youth programs, agricultural education, and conservation efforts that strengthen families and support our local economy. This is a smart use of public resources and a clear win for the community. I’m proud to lead this effort and look forward to seeing this legislation become law so Perry County can finally put this building to work for its people.”

The 0.81-acre parcel, located at 1069 Fourche Avenue, includes a federal building operated by the U.S. Forest Service. The building is vacant, and the U.S. Forest Service has no plans to use it going forward. While the building will require repairs and updates, Perry County has the funds to make the necessary improvements. Once conveyed and repaired, the property will support permanent operations of the University of Arkansas Extension Program and the Perry County Conservation District, and serve as the meeting space for the 4-H Youth Development Program.

Several local leaders and Perry County residents have voiced their support for the building to be conveyed to Perry County.

Perry County Judge Larry Blackmon said, “The prospect of being able to use this building means a lot to the citizens of Perry County. It will let us turn a vacant space into something useful for our kids, local farmers, and conservation work without putting extra strain on the county’s budget. Having control of the building will help us serve our community for years to come, and I’m truly grateful to Congressman Hill and his team for their help in making it possible.”

Donnie Crain, president of the Perry County Chamber of Commerce, said, “We pride ourselves in Perry County as being ‘Rural Arkansas at its best’ — and our Extension Service and the resources that they provide are a big component of our community. The transfer of this facility will not only bolster the efforts of the University of Arkansas Extension Service but also foster a stronger, more resilient Perry County.”

Amy Branch, chair of the board of the Perry County Conservation District, said, “This transfer would provide significant benefits to our community and support several county agencies. Consolidating resources in one location will improve coordination, communication, and efficiency, ultimately enhancing the services we provide to the residents of Perry County. Having a suitable facility to house these efforts is essential to continue environmental stewardship and support for landowners, farmers, and residents.”

Kallem Hill, president of the Perry County Farm Bureau Board of Directors, said, “This facility holds significant potential to serve as a vital resource for our community. By securing a dedicated space for their operations, we believe the Extension Service will be able to enhance its outreach and impact, thereby benefiting the entire Perry County population. Its transfer to Perry County will ensure that the building is maintained and utilized effectively, contributing to the continued growth and development of our agricultural community.”

Jacob Farnam, board president of the Perryville School District, said, “This facility has the potential to become a vital hub for the Perry County Extension Service and 4-H Youth Development Programs, delivering significant benefits to our community — particularly its young people. This transfer would empower the Extension Service and 4-H to strengthen Perry County for years to come.”

Rose Gunther, a local resident, said, “As a 4-H member, I witnessed firsthand the dedication of our extension staff, who often faced challenges in securing enough space to conduct vital programming. Whether it was for cooking classes, public speaking exercises, or hands-on projects like the Kids Chef Challenge, our staff frequently had to scramble to find suitable venues, stretching resources thin. Securing the U.S. Forest Service facility would offer a much-needed solution to these challenges.”

Ettamarie Belden, a local resident, said, “I have been a 4-H leader and volunteer for over 50 years, and our county has always been short of space for 4-H activities as well as adult activities and training. It would be a blessing to be able to put this area to use.”

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: In Washington, Klobuchar, Smith and Minnesota Small Business Owner Beth Benike Highlight Impact of Trump Administration Tariffs

US Senate News:

Source: United States Senator Amy Klobuchar (D-Minn)

WASHINGTON — Today, U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) joined small business owners from Minnesota and across the country to speak out against the rising costs of President Trump’s trade war.

Minnesota Small Business Person of the Year, Beth Benike, CEO and founder of Busy Baby based in Zumbrota, MN, spoke at the event about how tariffs are crushing her business. Klobuchar and Smith highlighted Benike’s story and emphasized the broader impact these tariffs are having on thousands of small business owners and farmers across Minnesota who can’t keep up with rising costs caused by President Trump’s tariffs.

“The small business owners that are standing here with us today, they do not have a direct dial number for the White House. They do not have the President’s cell phone. They are not like a major, major CEO of a Fortune 500 company that can call and get a meeting with the White House and then get their products exempted,” said Klobuchar. “The unfairness and the destruction of the competitive marketplace for small businesses will have longer-term effects than anyone can even imagine.”

“For American entrepreneurs, this is not a political issue. This is about the survival of their businesses and the survival of their dreams. Beth Benike’s story shows us so clearly that President Trump’s chaotic approach to tariffs is putting small businesses like hers at risk. It’s hurting people’s capacity to make payroll, it’s hurting our economy and it’s hurting American consumers,” said Smith.

“I currently have three months’ worth of inventory sitting at my factory that I cannot bring to the US. I have maybe two months’ worth left in my warehouse in Minnesota, and when that’s gone, I have no more revenue. I cannot pay my employees. I cannot pay my bills. I cannot pay the loans which I have leveraged my house against, so we could lose our house. I do not have the $230,000 that were just immediately dropped in front of me to get my products into the US,” said Benike.

Klobuchar’s bipartisan bill with Senators Tim Kaine (D-VA) and Mark Warner (D-VA) to undo President Trump’s across-the-board tariffs on Canadian goods passed the Senate last month. Recently, Klobuchar and Smith voted for a bipartisan bill to overturn Trump’s across-the-board global tariffs. Klobuchar also co-sponsors the Trade Review Act of 2025, bipartisan legislation by Senators Maria Cantwell (D-WA) and Chuck Grassley (R-IA) to restore congressional oversight over President Trump’s tariff taxes.

Download Klobuchar’s full remarks here.

Download Smith’s full remarks here.

Download Benike’s full remarks here.

Download photo here.

MIL OSI USA News –

May 6, 2025
MIL-OSI United Kingdom: British businesses celebrated in third year of The King’s Awards for Enterprise
Source: United Kingdom – Executive Government & Departments

Press release

British businesses celebrated in third year of The King’s Awards for Enterprise

The recipients of The King’s Awards for Enterprise have been announced today, celebrating the achievements of leading businesses from across the UK and Channel Islands.
197 recipients announced in The King’s Awards for Enterprise – the UK’s most prestigious business awards

Firms from Stirling to Somerset have their excellence recognised with two businesses receiving awards in two categories

These successful businesses are playing a key role in the Government’s mission to go further and faster for economic growth as part of our Plan for Change

The recipients of The King’s Awards for Enterprise have been announced today [6 May], celebrating the achievements of leading businesses from across the UK and Channel Islands and recognising their vital role in growing our economy to improve lives.

This year, 197 businesses representing a diverse range of sectors, have been recognised by His Majesty The King as among the best in the country, highlighting the ambition, ingenuity, and success of our diverse business community.

A total of 199 awards have been issued with two companies, Hampshire-based Sonardyne International and Norfolk-based Delta Fire, being recognised for two Awards each.

Overall, 116 businesses have been recognised for International Trade, 46 for Innovation, 27 for Sustainable Development and 10 for Promoting Opportunity Through Social Mobility.

By supporting more people into work, developing new innovations and exporting the best Britain has to offer around the world, businesses like these are playing a key role in the Government’s mission to go further and faster for economic growth, to put more money in more working people’s pockets as part of our Plan for Change.

Gareth Thomas, Minister for Services, Small Businesses and Exports said:

Congratulations to the recipients of this year’s King’s Awards for Enterprise, who all demonstrate the very best of British business talent.

I wish them every success as they continue to grow, innovate and prosper, and commend the invaluable contributions they have already made to communities at home and abroad, helping to boost the UK economy.

Out of the 197 winning businesses 176 (88%) are SMEs, and of those, 27 (14%) are micro-businesses, with 10 employees or less.

Smaller businesses are the beating heart of this government’s growth mission and providing them with the right support to overcome barriers and reach their full potential is an absolute priority. That is why this Government protected a million small firms from National Insurance increases and extended business rates relief in the Budget.

Since then, we have also launched the new Board of Trade to boost small businesses exports and announced over 200 new Banking Hub locations on top of the existing 100 already open. We have also taken action to tackle the scourge of late payments, and most recently, provided a multi-billion-pound increase in government backed financing to help organisations like the British Business Bank provide vital finance for smaller businesses.

We know that it will only take a 1% increase in SME productivity per year, over the next 5 years, to grow the UK economy by a whopping £94 billion. 

Graham Brown, Managing Director of Sonardyne, said:

We’re absolutely delighted to have received this recognition. Receiving two King’s Awards in 2025 really celebrates Sonardyne’s ongoing performance in International Trade delivered by working sustainably.

It’s a testament to the hard work of everyone at Sonardyne in making, selling, and supporting great products operating across our blue planet, whilst all the time caring deeply about how we do business to protect it. I hope we can inspire and help other UK businesses to do the same.

Ian Gardner, Managing Director and Founder of Delta Fire, said:

We are absolutely thrilled to receive two King’s Awards for Enterprise for both Innovation and Sustainable Development. These two highly prestigious awards are a fantastic recognition of the great team work in Delta Fire over the last 35 years from a small workshop unit to a state-of-the-art manufacturing facility using net zero energy.

Innovation and Sustainability has led Delta Fire to exporting fire nozzles all around the world and being used to successfully extinguish the majority of fires in the UK every day.

The King’s Awards for Enterprise were previously known as The Queen’s Awards for Enterprise and were renamed two years ago to reflect His Majesty The King’s desire to continue the legacy of HM Queen Elizabeth II by recognising outstanding UK businesses. The Award programme, now in its 59th year, has awarded over 8,000 companies since its inception in 1965.

His Majesty’s Lord Lieutenants – The King’s representatives in each county – will be presenting the Awards to businesses locally throughout the year. One representative from each winning business will also be invited to a special Royal reception event.

Case-studies

Sonardyne Energy, a Hampshire based firm, transforming what’s possible in offshore energy, maritime defence and ocean science markets through the engineering and manufacturing of their world-leading underwater equipment. They receive the award for International Trade and Sustainable Development.

Delta Fire, a globally recognised designer, manufacturer, and supplier of specialist front-line firefighting products, committed to sustainability and carbon neutrality by 2030. Based in Norfolk, Delta Fire have been recognised in the Innovation and Sustainable Development categories.

Other recipients also include:

Level Peaks, a business based in Hereford, and managed by ex-British Military Special Forces Veterans, which supplies innovative defence and security equipment to the UK Government and governments abroad. The company receives The King’s Award for International Trade.

Mixergy, which has received the Innovation award for their intelligent hot water tank which interacts between homes and the grid to maximise efficiency and reduce energy bills. The business is based in Oxford.

The full list of Awardees across the four categories can be found in the London Gazette.

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Published 6 May 2025
MIL OSI United Kingdom –
May 6, 2025
MIL-OSI USA: Mayor Johnston, Governor Polis, Attorney General Weiser, Senator Bennet, Congressman Neguse & Congresswoman Pettersen Release Letter to Colorado General Assembly on A.I.

Source: US State of Colorado

DENVER – Today, Mayor Johnston, Governor Polis, Attorney General Weiser, Senator Bennet, Congressman Neguse and Congresswoman Pettersen released the following letter to the Colorado General Assembly on A.I.

“For decades, Colorado has served as a national leader in the technology innovation sector. Our state is proud to be home to cutting-edge companies and national laboratories that drive our economy and jobs, while also championing groundbreaking consumer protection laws like the Colorado Consumer Protection Act.

Over the past year, stakeholders and legislators together have worked to find the right path forward on Colorado’s first-in-the-nation artificial intelligence regulatory law created by SB24-205. This bill established a regulatory framework that seeks to lower the risk of algorithmic discrimination in AI-based decision-making technology.

The stakeholder collaboration that took place over many months leading up to and during the 2025 legislative session brought many ideas, concerns, and priorities to the table from a wide range of communities. However, with just hours remaining in the 2025 legislative session, it is clear that more time is needed to continue important stakeholder work to ensure that Colorado’s artificial intelligence regulatory law is effective and implementable.

Together, we implore leadership and members of the Colorado General Assembly to take action now to delay implementation of SB 24-205 until January 2027. Colorado communities in every corner of our state deserve the benefit of well-crafted artificial intelligence consumer protection law that more time for stakeholder engagement and policy development work will bring.

This pause will allow consumer advocates, Colorado’s business community, and other states to collaborate on a balanced, future-ready framework – one that protects privacy and fairness without stifling innovation or driving business away from our state.”

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MIL OSI USA News –

May 6, 2025
MIL-OSI Security: San Jose AI Solutions Company Agrees To Pay $1.5 Million To Resolve Allegations That It Improperly Obtained Federal Grant Funds

Source: Office of United States Attorneys

SAN FRANCISCO – Vimaan Robotics, Inc. (Vimaan), a San Jose-based company that develops computer vision and AI warehouse management solutions, has agreed to pay $1.5 million to resolve allegations that it violated the False Claims Act by improperly accepting and drawing down funds from a grant award that it was ineligible to receive.

The settlement relates to a Small Business Innovation Research (SBIR) Phase II grant that Vimaan obtained from the National Science Foundation (NSF). The terms and conditions of the SBIR grant preclude companies that are majority-owned by one or more venture capital operating companies from applying for or receiving such an award. The settlement resolves allegations by the United States that at the time Vimaan received the award on April 16, 2020, Vimaan failed to disclose that it had become majority-owned by one or more venture capital companies one month earlier, making it ineligible for the award. Between June 2020 and August 2022, the United States contends, Vimaan submitted 14 separate requests to NSF for disbursement of the award funds and falsely certified its eligibility to receive the award funds in each of these payment requests.

“Federal small business research grants awarded by NSF are designed to support and foster innovative research by small businesses, not to provide taxpayer funding for businesses primarily owned by venture capital firms,” said Acting United States Attorney Patrick D. Robbins. “When companies evade program restrictions and obtain grants even though they are not eligible, this office will vigorously enforce the False Claims Act to ensure that federal dollars go to proper recipients.”

“The SBIR program is a valuable tool in advancing NSF’s mission to promote the progress of science by increasing opportunities for small businesses to undertake cutting-edge scientific research. Entities that misrepresent their eligibility in order to obtain government funding undermine the integrity and effectiveness of the program. The NSF Office of Inspector General is committed to vigorously pursuing oversight of these taxpayer funds and I commend the U.S. Attorney’s Office for its strong support in this effort,” said Megan E. Wallace, NSF’s Acting Inspector General.

Assistant U.S. Attorney Savith Iyengar handled this matter for the government. The investigation and settlement resulted from a coordinated effort by the U.S. Attorney’s Office for the Northern District of California and NSF-OIG.

The investigation and resolution of this matter illustrate the government’s emphasis on combating fraud in federal grants. One of the most powerful tools in this effort is the False Claims Act. Tips and complaints from all sources about potential fraud, waste, abuse, and mismanagement involving NSF can be reported to NSF’s Office of Inspector General at https://oig.nsf.gov/contact/hotline.

The claims resolved by the settlement are allegations only, and there has been no determination of liability.

Vimaan Settlement Agreement

MIL Security OSI –

May 6, 2025
MIL-OSI Video: Stuck on this footage…#traveling #funny

Source: United States of America – Federal Government Departments (video statements)

Feeling de-feet-ed planning for your summer travel? We’re heel for you:

You’ll put your best foot forward by arriving at the airport with extra time before your flight. Wear shoes that are easy to remove, avoid clothes with a high metal content, and put heavy jewelry on after you’ve completed screening.

Don’t let disorganization be your Achilles heel. Have your ID and boarding pass ready, your large electronics and travel-size liquids bag at the top of your carry-on.

Want to get a leg up on the travel competition? Help is just a hop, skip and a jump away, as our AskTSA team is always ready to answer you travel questions. Converse with them on FB Messenger, TW, and Apple Business Chat, 7 days a week.

We hope this content was all the info your sole needed.

Video by @laci_loves_hair

https://www.youtube.com/watch?v=HDXF-tWHrE0

MIL OSI Video –

May 6, 2025
MIL-OSI USA: East Trading Inc., Issues Alert on Undeclared Sulfites in “Licorice Plum”

Source: US Food and Drug Administration

Summary

Company Announcement Date:
May 01, 2025
FDA Publish Date:
May 05, 2025
Product Type:
Food & BeveragesAllergens
Reason for Announcement:

Recall Reason Description
Potential or Undeclared Allergen – sulfites Unapproved color – Amaranth (E123)

Company Name:
Eats CL Trading, Inc.
Brand Name:

Brand Name(s)
President Brand

Product Description:

Product Description
Licorice plum

Company Announcement
East CK Trading, Inc. of Long Island City, NY, is recalling its 8-ounce packages of “Licorice Plum” food treats because they contained undeclared sulfites and unallowed color, Amaranth (E123). Consumers who have severe sensitivity to sulfites run the risk of serious or life-threatening allergic reactions if they consume this product
The recalled “Licorice Plum” were distributed nationwide in retail stores and through mail orders. The product comes in an 8-ounce, clear plastic bottle. The product UPC code is 0077-20729
No illnesses or allergic reactions involving this product have been reported to date.
The recall was initiated after routine sampling by New York State Department of Agriculture and Markets Food Inspectors and subsequent analysis by Food Laboratory personnel revealed the presence of sulfites in the 8 ounce packages of “Licorice Plum” which were not declared on the label. The consumption of 10 milligrams of sulfites per serving has been reported to elicit severe reactions in some asthmatics. Anaphylactic shock could occur in certain sulfite sensitive individuals upon ingesting 10 milligrams or more of sulfites. Analysis of the “Licorice Plum” revealed they contained 29.1 milligrams per serving.
Consumers who have purchased 8-ounce packages of “Licorice Plum” are urged to return them to the place of purchase for a full refund. Consumers with questions may contact the company at 1-718-857-0008

Company Contact Information

Consumers:
Jeff Boehner
1-718-857-0008

Product Photos

Content current as of:
05/05/2025

Regulated Product(s)

Topic(s)

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MIL OSI USA News –

May 6, 2025
MIL-OSI New Zealand: Consumer NZ’s annual KiwiSaver survey reveals satisfaction rising but questions remain

Source: Consumer NZ

Strong returns and fewer issues helped lift sentiment, even with some investors disengaged, although that may be about to change.

“Consumer NZ’s People’s Choice award recognises products and services whose customers are highly satisfied,” says Consumer chief executive Jon Duffy.

Results from the nationally representative annual KiwiSaver satisfaction survey highlight the strengths and weaknesses of different retirement savings scheme providers.

“KiwiSaver customer satisfaction has improved noticeably in 2025. The sector’s overall satisfaction rating climbed to 57%, up from 52% in 2024,” says Duffy.

However, the coming years will test both the trust in and communication from providers, with Trump’s tariffs serving as one example of the immediate pressures contributing to ongoing global economic uncertainty.

Returns still rule, but interest in ethical investment is growing

Performance remains the strongest driver of satisfaction in the KiwiSaver space. Good returns are behind low switching rates, but concerns persist in areas such as fee fairness, accessibility and transparency.

“Ethical investment continues to attract high interest. Many New Zealanders say they care about whether their funds are invested in undesirable sectors, but few know the details of where their money goes.

“Many rely on trust in their provider. Around 40–50% believe providers are making genuine efforts to invest ethically, while a similar proportion remains unsure,” says Duffy.

Top KiwiSaver providers of 2025

Customer satisfaction leaders this year were small outfits again, more agile providers, recognised for offering strong investment returns, communication, fair fees and ethical investment options.

Generate – 80%

Milford Funds – 75%

Simplicity – 69%

People’s Choice standouts

Generate earned the People’s Choice award this year, for ease of access and the features of its digital platform.

Milford Funds extended its winning streak to eight years, thanks to strong communication and customer confidence in investment returns.

Simplicity featured for the sixth year in a row, widely praised for fee fairness and ethical focus.

Bottom of the pack – 2025’s lowest-rated providers

Larger providers continue to lag, especially in terms of measures like communication, fee satisfaction and keeping customers informed. The biggest gripe tends to be fees.

ANZ – The largest provider continues to see a decline in satisfaction year on year, with consistently poor performance on transparency and fees.

Smart – Struggles with engagement and customer support.

Mercer – Lowest-ranked overall, with concerns about service quality and value for money continuing to dominate feedback.

The Treasury staff published an analytical note in September 2024, highlighting that as New Zealand’s population ages, life expectancy increases, and fertility rates decline, there is mounting pressure to ensure retirement savings can support individuals throughout their extended retirement years. This highlights the growing importance of KiwiSaver for the financial wellbeing of New Zealanders, both now and in the future.

For these reasons, it is important that consumers engage with their investments, rather than staying passively in default schemes, to improve their returns and build greater financial security for their retirement.

About Consumer

Consumer NZ is an independent, non-profit organisation dedicated to championing and empowering consumers in Aotearoa. Consumer NZ has a reputation for being fair, impartial and providing comprehensive consumer information and advice.

MIL OSI New Zealand News –

May 6, 2025
MIL-OSI Asia-Pac: Dr. Jitendra Singh Reviews DST Projects, Calls for AI led innovations, Support for Deep-Tech Startups

Source: Government of India

Dr. Jitendra Singh Reviews DST Projects, Calls for AI led innovations, Support for Deep-Tech Startups

Minister Champions India’s Own AI Open Stack to Propel Nation into Global Science Leadership

Dr. Jitendra Singh Urges ANRF to Help Medical Colleges Set Up Research Parks to Boost Clinical Innovation

Posted On: 05 MAY 2025 4:53PM by PIB Delhi

Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh on Monday chaired a comprehensive review of the Department of Science and Technology (DST), calling for bold new directions in science-driven growth, including AI-led innovations, deep tech StartUps and enhanced infrastructure sharing.

The meeting saw the Minister focus particularly on the evolving role of the newly constituted Anusandhan National Research Foundation (ANRF), as well as ongoing national missions like the Geospatial initiative.

Dr. Jitendra Singh held detailed discussions with Prof. Abhay Karandikar, ANRF’s newly appointed CEO, Dr. Shivkumar Kalyanaraman and other senior officials of the Ministry. During the meeting, Dr. Kalyanaraman presented an ambitious vision for the ANRF, promising catalytic funding mechanisms, deep integration with private industry, and strategic missions modeled on globally successful institutions such as the National Science Foundation (NSF) and DARPA.

In a significant step aimed at boosting indigenous innovation, ANRF is preparing to launch a “Small Business Deep Tech Innovation” programme, which will empower startups and MSMEs to scale breakthrough technologies for real-world applications.

Recognizing the need to better utilize existing national research infrastructure, the Minister reviewed ANRF’s plan to create a “Cloud of Research and Innovation Infrastructure,” a digital platform that would offer deep-tech startups and academic institutions access to underused scientific equipment and facilities across the country. This move is expected to democratize research capabilities, especially for smaller players who often lack access to high-end lab tools.

Among the major scientific thrusts discussed, the ANRF’s “AI-for-Science” initiative took centre stage. The programme aims to leverage artificial intelligence to accelerate discoveries in physics, chemistry, and biology by using machine learning to model complex scientific equations.

The Minister directed the ANRF leadership to kickstart a few select projects under this initiative and demonstrate tangible outcomes in the near term. He also encouraged the CEO to engage with university Vice Chancellors to raise awareness about the ANRF mission and opportunities for collaboration.

In another key direction, Dr. Jitendra Singh asked the ANRF to explore the possibility of helping medical colleges establish their own medical research parks — a move that could boost clinical innovation and local biotech entrepreneurship. The Minister further underscored the importance of building an indigenous “India AI Open Stack” — a foundational AI architecture embedded with science and engineering models tailored for Indian researchers. This, he noted, could position India as a global frontrunner in AI-driven scientific applications.

Dr. Jitendra Singh also revisited the concept of “deep science-to-deep tech acceleration,” urging the ANRF to focus on converting academic research — such as publications and patents — into commercial technologies. He emphasized the need for partnerships with top-tier industry players and the creation of venture-builder models to ensure that discoveries don’t remain confined to laboratories.

The Minister concluded by asking the ANRF to prioritize key areas of national relevance, including climate forecasting, material science, aerospace, biochemistry, and drug development. He stressed that the time has come for India to move from isolated innovation to a more integrated, impact-driven ecosystem that links research, startups, and industry.

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MIL OSI Asia Pacific News –

May 6, 2025
MIL-OSI USA: ICYMI: Shaheen Joins Senior Senate Colleagues in Demanding Investigation into Elon Musk’s Alleged Abuse of White House Position for Personal Gain

US Senate News:

Source: United States Senator for New Hampshire Jeanne Shaheen
**Shaheen introduced new legislation last month that would prevent Special Government Employees like Musk from receiving federal contracts or grant payments to companies they own**
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and a top member of the U.S. Senate Armed Services Committee, on Friday joined several of her high-ranking Senate officials in sending a letter to President Trump to demand an investigation into recent reports that Elon Musk—senior White House advisor and Special Government Employee—has used his role to advance personal business interests abroad. In the letter led by U.S. Senator Mark Warner, Vice Chairman of the Senate Select Committee on Intelligence, the lawmakers reference an alarming pattern in which Musk allegedly utilized influence in the policy making process to pressure foreign governments—including India, South Africa, Bangladesh, Vietnam, Pakistan and Lesotho—into granting favorable treatment to his satellite internet provider Starlink in apparent exchange for U.S. policy concessions.
Last month, Shaheen unveiled new legislation that would prevent federal contracts or grant payments to companies owned or controlled by any person who became a Special Government Employee on or after January 1, 2025.
The Senators wrote, in part: “Public servants must serve Americans, not their own bank accounts. These alleged actions are an egregious breach of public trust, degrade our credibility with allies and partners, and potentially violate U.S. laws.”
The letter details instances of Musk meeting with foreign leaders – including those from India and Bangladesh – inside the White House complex and the Blair House, shortly before their governments fast-tracked regulatory approvals for Starlink. In one example, the Bangladesh Telecommunication Regulatory Commission issued what was described as “the swiftest recommendation” in its history for a Starlink license shortly after officials requested a delay in U.S.-imposed tariffs and met with Musk on White House grounds.
The Senators continued: “The White House and the Blair House are not merely buildings – they are enduring symbols of American democracy and service. To use this public property for personal enrichment is not only a betrayal of the public trust – it also sends a dangerous signal that power is not a solemn responsibility, but an asset to be exploited for personal gain.”
They concluded: “Brazen corruption of that sort is seen in despotic regimes, not the United States of America. We call for you to investigate these claims about Musk and to make public any findings. And we call for an accounting to Congress of Musk and his associates’ use of government positions for personal benefit.”
Click here to view the letter.
In addition to Shaheen and Warner, the letter was signed by Senators Elizabeth Warren (D-MA), Ranking Member, Senate Committee on Banking, Housing, and Urban Affairs; Ron Wyden (D-OR), Ranking Member, Senate Finance Committee; Patty Murray (D-WA), Vice Chair, Senate Appropriations Committee; Jeff Merkley (D-OR), Ranking Member, Senate Budget Committee; Jack Reed (D-RI), Ranking Member, Senate Armed Services Committee; Chris Coons (D-DE), Ranking Member, Senate Appropriations Subcommittee on Defense; Brian Schatz (D-HI), Ranking Member, Senate Appropriations Subcommittee on State, Foreign Operations, and Related Programs; Ed Markey (D-MA), Ranking Member, Senate Committee on Small Business and Entrepreneurship; Sheldon Whitehouse (D-RI), Ranking Member, Senate Committee on Environment and Public Works; Amy Klobuchar (D-MN), Ranking Member, Senate Agriculture Committee; and Richard Blumenthal (D-CT), Ranking Member, Senate Committee on Homeland Security and Government Affairs Permanent Subcommittee on Investigations.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA News: National Small Business Week, 2025

Source: The White House

class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

Small businesses power our economy from the ground up, driving innovation and building products that keep America strong, competitive, and secure. During National Small Business Week, we celebrate the unyielding spirit, creativity, and perseverance of our hardworking entrepreneurs who dare to dream big.

Small businesses are vital to our economy. America has 33 million small businesses that employ 61.7 million Americans — nearly half of the private-sector workforce — and create almost two out of every three new jobs in the country.

In recent years, small business owners have faced unprecedented challenges — record high inflation, reckless Federal spending, and burdensome regulations — yet have remained committed to delivering for America’s communities.

Small businesses across the country have also carried the burden of a broken global trade system for far too long. Originally designed after World War II to support recovery in war-torn nations, it is now exploited by foreign competitors. They flood our markets with cheap goods while shutting out quality American products.

Too many in our Government were afraid to tackle this problem. Now, at last, my Administration is fixing it. On Liberation Day, we implemented targeted tariffs to protect American businesses from unfair trade practices and to strengthen local supply chains. We are putting American people first and delivering long-overdue relief for our workers and entrepreneurs.

My Administration is unleashing a new era of opportunity for small businesses built on common sense and pro-growth policies that put our workers and our job creators first. We are cutting red tape, keeping taxes low, promoting fair and reciprocal trade practices, and fighting for hardworking Americans.

The Made in America Manufacturing Initiative is creating good-paying jobs and securing our supply chains, while cutting $100 billion in regulations that disproportionately burden small businesses and manufacturers. Free from crippling compliance and regulatory hurdles, we are empowering our businesses to focus on what they do best: business.

Entrepreneurship is the foundation of a free and prosperous Nation and the engine of the American economy — built by men and women who work hard, take risks, and believe in the power of the American Dream. From our fields to our factories to the frontiers of technology, our small businesses embody the American spirit, driving growth and creating new employment opportunities. Our history of ingenuity and grit is unrivaled, and by renewing our support of small businesses, we are raising wages, strengthening American families, and leading our country and the world into a new Golden Age.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim May 4 through May 10, 2025, as National Small Business Week. I call upon all Americans to recognize the critical contributions of America’s entrepreneurs and small business owners as they grow our Nation’s economy.

IN WITNESS WHEREOF, I have hereunto set my hand this fifth day of May, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.

DONALD J. TRUMP

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Fischer on Senate Floor: Congress Must Pass the Foreign Adversary Communications Transparency Act

US Senate News:

Source: United States Senator for Nebraska Deb Fischer
Today, during a speech on the Senate floor, U.S. Senator Deb Fischer (R-Neb.) called on her colleagues to pass her Foreign Adversary Communications Transparency (FACT) Act – approved by the Senate Commerce Committee last week – which will require the Federal Communications Commission (FCC) to publicly identify entities that hold FCC licenses, authorizations, or other grants of authority that are owned, wholly or partially, by foreign adversarial governments.
In her remarks, Fischer highlights the threats the United States faces from companies with strong ties to foreign adversaries. She specifically calls out Huawei, a major global supplier of cellphone network equipment, citing its troubling and potentially dangerous access to critical communications infrastructure.
Click the image above to watch a video of Fischer’s remarks.
Click here to download audio
Click here to download video
Following is a transcript of Fischer’s remarks as prepared for delivery:M. President,
Last week, my bill, the Foreign Adversary Communication Transparency Act—or FACT Act— cleared the Commerce Committee unanimously. Now, it will come before us here, on the Senate floor, for a vote.
I stand before you today because the threat our foreign adversaries pose is not a distant concern. It is real, it is relentless, and it is constantly evolving.
We cannot afford to wait and deal with the consequences. The cost of inaction is too great.
Congress must anticipate the threats and we must work together to curb the malign influence of foreign adversaries like Communist China, Russia, Iran, and North Korea.
For too long now, we have allowed foreign adversarial governments to secure a silent foothold in our telecommunications infrastructure.
Take, for example, Huawei.
Huawei, a Chinese-owned telecommunications giant, is one of the leading producers of cellphone network equipment. This equipment spans across our country and finds its home in most of our cellular devices.
Over a decade ago, our intelligence agencies began noticing a peculiar pattern of Huawei equipment on cell towers across my home state of Nebraska, as well as nearby Colorado and Montana. That Chinese gear was clustered near sensitive military assets, including Nebraska’s Offutt Air Force Base and our nuclear missile silos.
Then, just four years ago, U.S. intelligence officials sounded the alarm. Their investigations found that Huawei could secretly access mobile phone networks around the world through “back doors” – unbeknownst to carriers.
And perhaps even more concerning: Huawei has had this capability for more than a decade.
And, Huawei’s ownership is bankrolled by billions of dollars from the Chinese government.
What government freely hands over that kind of money without expecting something in return?
Despite being based in China and having deep connections to the Chinese Communist Party—as confirmed by the U.S. intelligence community—the company continues to refuse to acknowledge the Chinese government’s influence.
However, in 2020, under President Trump’s administration, the Federal Communications Commission designated Huawei as a national security threat and banned the sale of its telecommunications equipment in the United States. This past December, Congress also secured the remaining funding to enable smaller, rural communications companies to rip risky Chinese-made equipment out of their networks.
In 2022, the Justice Department charged two Chinese intelligence officers with an unsettling crime: attempting to obstruct a federal investigation into Huawei by stealing sensitive case material from a U.S. District Attorney’s office.
Colleagues, I pose to you this question: Why would the Chinese government go to such lengths to interfere in a case involving a so-called ‘private company’ in which they have no stake? They wouldn’t.
While recent actions to curtail Huawei equipment, and those from other high-risk Chinese firms, are steps in the right direction, they don’t go far enough.
We must have far greater transparency about which companies holding federal communications licenses and authorizations also have influential ties to foreign adversarial governments.
And we must look deeper at: Who has this access? And, how many more companies like Huawei are out there?
Companies like Huawei must be stopped. We can no longer permit authoritarian regimes, like China, to infiltrate our networks and lurk in the shadows, waiting for the opportune moment to strike. It is not enough to brace ourselves for the aftermath of disaster. We must root out the threat before it has time to fester.
The reality is that our foreign adversaries have stakes in numerous companies operating freely and legally within the United States.
Yet, in many cases, the public remains unaware of which companies are owned – wholly or partially – by these adversaries.
That’s why, today, I call upon the Senate to pass my FACT Act, which takes a much-needed step to strengthen our visibility into our telecommunications market to weed out that access we have seen from malicious foreign adversaries.
Because the first step in defending our national security is understanding the threat.
My bill directs the Federal Communications Commission to publicly identify any companies – with an FCC license or authorization – that are owned by foreign adversarial governments. Under the FACT Act, companies with foreign ties will no longer be able to operate in secrecy. And they will no longer be able to conceal their financial backers or obscure their true loyalties.
Huawei should serve as a warning. China is on the offensive, to undermine the security of America’s communications. An attack on our networks is a direct attack on the United States, and it is not one we should tolerate.
Thank you, M. President, I yield the floor.

MIL OSI USA News –

May 6, 2025
MIL-OSI Australia: Hungry Jack’s pays penalties for supplying toys with its children’s meals that allegedly breached the mandatory information standard for button batteries
Source: Australian Ministers for Regional Development

Australian fast-food franchise Hungry Jack’s Pty Ltd has paid penalties totalling $150,240 after the ACCC issued it with eight infringement notices for alleged breaches of the Australian Consumer Law by failing to comply with the mandatory button battery information standard.

The infringement notices relate to a Garfield toy powered by button batteries that was supplied nationwide without the important warnings and information required by the mandatory information standard.

Between 20 May 2024 and 30 May 2024, Hungry Jack’s supplied 27,850 of the Garfield toys with its children’s meals.

While the Garfield toy complied with the button battery safety standard, it did not advise consumers that it contained button batteries, nor provide relevant warnings about the potentially fatal hazards these pose or advice about what to do if a child ingested one.

“Button batteries are extremely dangerous for young children and tragically, children have been seriously injured or died from swallowing or ingesting them,” ACCC Deputy Chair Catriona Lowe said.

“The ACCC continues to see non-compliant products on the market which pose unacceptable safety risks to vulnerable young children. We take non-compliance with these important standards seriously and will not hesitate to take enforcement action where appropriate.”

The ACCC has also accepted a court-enforceable undertaking from Hungry Jack’s in which it admitted the Garfield toy is likely to have failed to comply with the button battery information standard.

Hungry Jack’s has undertaken to establish and implement a compliance program designed to minimise Hungry Jacks’ risk of future breaches of the Australian Consumer Law.

Millions of consumer goods worldwide contain button batteries. If swallowed, a button battery can become stuck in a child’s throat and result in catastrophic injuries, and even death, in as little as two hours. In Australia, three children have died and more than one child a month is injured from incidents involving button batteries.

Businesses involved in the supply of button batteries and products containing them must ensure compliance with both the mandatory safety and information standards. The safety standards require products containing button batteries to be sold in child resistant packaging and to have secure battery compartments to prevent children from gaining access to the batteries. The information standards require warnings and emergency advice on packaging and instructions.

Images of the Garfield toy including packaging

Recalled product

Hungry Jack’s has recalled the Garfield toy. Consumers can return the toy to their nearest Hungry Jack’s restaurant for a free replacement for a non-battery toy.

ACCC guidance for businesses and consumers

Button batteries are small, round and shiny and can be appealing for young children to swallow or insert, which poses a significant risk of serious injury or death. Compliance with the mandatory standards helps to prevent this.

If you suspect your child has swallowed or inserted a button battery:
- call Triple Zero (000) immediately if your child is bleeding or having any difficulty breathing
- call 13 11 26 immediately for 24/7 fast and expert advice from the Poisons Information Centre.
Prompt action is critical, do not wait for symptoms to develop. Serious injury can occur in as little as two hours and can be fatal.

The ACCC strongly encourages consumers to check for button battery products in their homes and take steps to secure them to keep them safe for young children. Consumers can check the list of recalled products on the ACCC Product Safety website.

Anyone who has experienced product safety incidents (including near misses) is strongly encouraged to report these to the supplier and to report safety concerns about particular products to the ACCC via the Product Safety website.

Suppliers of button battery products must submit a report to the ACCC within 2 days if they become aware that a consumer good they have supplied caused or may have caused a death, serious injury or serious illness. Further information about this reporting can be found in the ACCC’s Mandatory Reporting Guideline.

The ACCC has published a fact sheet and guide for businesses on the button battery mandatory standards to assist businesses with meeting their obligations.

Notes to editors

The ACCC can issue an infringement notice when it has reasonable grounds to believe a person or business has contravened certain consumer protection provisions in the Australian Consumer Law.

The payment of a penalty specified in an infringement notice is not an admission of a contravention of the Australian Consumer Law. The Australian Consumer Law sets the penalty amount.

Background

Hungry Jack’s Pty Ltd is an Australian fast-food franchise of the Burger King corporation.

Four mandatory button battery standards operate in Australia which aim to make button battery products safer and provide consumers with important safety information.

The ACCC consulted and engaged extensively with industry during the 18-month transition period before the standards became mandatory, including working with businesses to explain the changes that would be required to comply with the new standards.

Product safety, and consumers experiencing a vulnerability or disadvantage, are enduring ACCC priorities, and consumer product safety issues for young children (with a focus on compliance with the button battery standards) is a 2025-26 ACCC compliance and enforcement priority.

Other button battery enforcement outcomes include:
- In April 2025 the ACCC commenced proceedings against Fewstone Pty Ltd (trading as City Beach) regarding allegations that City Beach offered for sale 70 product lines containing button batteries which did not comply with Australia’s mandatory button battery standards.
- In May 2023, the Reject Shop and Dusk paid a total of nearly $240,000 in penalties after the ACCC issued infringement notices for alleged failure to comply with mandatory product safety and information standards in Halloween novelty products containing button batteries.
- In June 2023, the ACCC, in collaboration with state and territory consumer protection regulators, announced the outcome of market surveillance of over 400 businesses and 8 online platforms which identified a concerning level of non-compliance with the information standards, and to a lesser extent with the safety standards.
- In October 2023, Tesla Motors Australia Pty Ltd paid penalties totalling $155,460 after the ACCC issued 10 infringement notices for alleged contraventions of the Australian Consumer Law in relation to the supply of 3 types of car key fobs and 2 types of illuminating door sills that allegedly did not comply with the safety and information standards.
- In December 2023 Repco, Supercheap Auto and Innovative Mechatronics Group paid penalties totalling $119,280 after the ACCC issued them with infringement notices for supplying aftermarket car key remotes that allegedly did not comply with the information standards.
- In June 2024, MDI International Pty Ltd and TEEG Australia Pty Ltd each paid penalties of $49,500 after the ACCC issued them with infringement notices for alleged breaches of the Australian Consumer Law, by failing to comply with the testing requirements of the button battery safety standard.
MIL OSI News –
May 6, 2025
MIL-OSI USA: Sens. Scott, Cantwell Reintroduce Aviation Workforce Development Act

US Senate News:

Source: United States Senator for South Carolina Tim Scott
WASHINGTON — U.S. Senators Tim Scott (R-S.C.) and Maria Cantwell (D-Wash.) reintroduced the Aviation Workforce Development Act. This legislation amends the Internal Revenue Code to make expenses for education at FAA-certified flight andaviation maintenance programs eligible for 529 plan funds. 529 plans are valuable tools for saving for education, offering tax-free growth and allowing withdrawals for qualified expenses like tuition, room and board, and school supplies. The Aviation Workforce Development Act allows students pursuing FAA-certified flight and aviation maintenance programs to now use their 529 plan funds to cover these educational costs. As record numbers of air travelers visit South Carolina each year, this legislation will open doors for aspiring pilots and aviation maintenance technicians by ensuring they can play a vital role in the state’s aviation workforce.
In addition to Senators Scott and Cantwell, this bill is cosponsored by U.S. Senator Raphael Warnock (R-Ga.). Representative Mike Collins (R-Ga.) introduced companion legislation in the U.S. House of Representatives.
“This bill provides a commonsense solution to tackling workforce shortages in the aviation industry and offering more flexibility for parents investing in 529 accounts,” said Senator Scott. “By streamlining workforce development in aviation and expanding the use of 529 funds, it strengthens the aviation sector and provides parents greater freedom to invest in their children’s future.”
“Families use 529 plans to save for their children’s future education. But we know that our next generation of workers need options beyond traditional four-year college degrees, such as apprenticeships, trade schools, and more,” Senator Cantwell said. “By allowing 529 plans to cover FAA-certified commercial pilot and aviation maintenance courses, this bill helps remove cost barriers for students considering a career path in Washington state’s thriving aviation industry.”
“I’ve worked tirelessly in the Senate to secure federal investments for aviation workforce programs. The Aviation Workforce Development Act builds on my efforts to create educational pipelines that welcome Georgians from every zip code into this critical industry,” said Senator Warnock. “This is a bipartisan and bicameral bill for a reason—these are commonsense solutions to address needs throughout our aviation industry, and I’m proud to work alongside Senators Scott and Cantwell in this effort.”
The Aviation Workforce Development Act is endorsed by Airlines for America, Air Line Pilots Association, Delta Air Lines, Aerospace Industries Association, Atlas Air Worldwide, National Air Carrier Association, NetJets Association of Shared Aircraft Pilots, Aircraft Mechanics Fraternal Association, Aeronautical Repair Station Association, Aviation Technician Education Council, and National Business Aviation Association.
Background:
According to a recent Pilot and Technician Outlook report from Boeing, the 20-year outlook for aviation personnel includes 602,000 new pilots and 610,000 new maintenance technicians.
According to ATP, that nation’s largest flight school, it costs just over $96,000 a year to become a pilot with no previous experience and just over $75,000 if you start with a private pilot certificate.
According to BLS, the median annual wage for commercial pilots was $99,640 in 2021 and the median wage for aircraft mechanics and service technicians was $65,380.
Meanwhile, 529 plans generally do not include coverage of commercial pilot or aviation maintenance programs unless they are part of an “eligible educational institution.”
Eligible institutions are colleges, universities, trade schools, or other post-secondary educational institutions that are eligible to participate in a student aid program run by ED.

MIL OSI USA News –

May 6, 2025
MIL-OSI USA: Heinrich, Luján Statement on President Trump’s 2026 Budget Request

US Senate News:

Source: United States Senator Ben Ray Luján (D-New Mexico)
Heinrich and Luján: “Donald Trump and Elon Musk’s budget will further tank the economy and throw working families under the bus. As New Mexico’s senators, we’ll fight back”
WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, and U.S. Senator Ben Ray Luján (D-N.M.) released the following statement onPresident Trump’s Fiscal Year 2026 (FY26) Preliminary Budget Request, which proposes slashing critical investments that benefit New Mexico families to fund massive tax cuts for billionaires like Elon Musk:
“Donald Trump’s budget doesn’t put New Mexico families first — it jeopardizes Medicaid and slashes nutrition programs and services hardworking people rely on, all to fund massive tax handouts to Trump, Elon Musk, and their billionaire donors.
“This proposal would drive up the cost of health care, groceries, housing, and utilities; gut public school and pre-K funding; defund cancer research; weaken law enforcement’s ability to fight drug trafficking; and strip resources from wildland firefighters, farmers, Tribes, and rural communities. It also threatens our public lands — paving the way for Republicans’ massive sell-off.
“Donald Trump and Elon Musk’s budget will further tank the economy and throw working families under the bus. As New Mexico’s senators, we’ll fight back — to protect Medicaid and Social Security, defend every dollar we’ve secured for our communities, and keep putting New Mexico families first.”
Among all of his proposed cuts, President Trump’s Fiscal Year 2026 (FY26) Preliminary Budget Request:
HEALTH:
Slashes funding for the U.S. Department of Health and Human Services (HHS) by $33 billion (-26%).
Slashes funding for the Centers for Medicare and Medicaid Services (CMS) by $674 million. CMS helps ensure over 100 million Americans have access to affordable, high-quality health insurance by overseeing Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act marketplaces.
Cuts funding for the National Institutes of Health (NIH) by $18 billion or more than 40% — decimating funding for lifesaving medical treatments and cures.
Decimates funding for the Centers for Disease Control and Prevention (CDC) by cutting $3.6 billion — hollowing out the agency’s ability to save lives and protect Americans from health threats.
Guts funding for substance use prevention and treatment and mental health services by $1 billion (roughly –15%) and eliminates the Substance Abuse and Mental Health Services Administration — the agency with expertise in tackling the substance use and mental health crises.
Eliminates the Title X program, which helps nearly 3 million patients get preventative care, birth control, cancer screenings, and more in every state.
EDUCATION:
Guts funding for the U.S. Department of Education by $12 billion (-15%).
Eliminates all funding for Preschool Development Grants, which help states strengthen their early childhood education system and get parents the child care and pre-K they need.
Eliminates and cuts dozens of elementary and secondary education programs (the vast majority of which are not specified), underscoring that President Trump’s vision for returning education to the states means state and local taxpayers will pay more to support students and educators at their local schools as a result of major cuts in federal funding.
Eliminates several higher education programs, including TRIO, GEAR UP, Federal Work Study, Child Care Access Means Parents in Schools (CCAMPIS), and more, which help Americans pursue a postsecondary education and further their careers.
Slashes funding for the U.S. Department of Labor by $4.6 billion (-35%).
Proposes to “Make America Skilled Again” by cutting workforce training programs that help Americans develop skills and secure good-paying jobs by roughly a third.
Eliminates Job Corps and the Senior Community Service Employment Program.
Eliminates AmeriCorps, which enables over 200,000 Americans to help serve communities across the country, including by responding to natural disasters, supporting veterans, fighting the opioid epidemic, helping older Americans age with dignity, and working in our schools, educating and supporting students.
HOUSING:
Eviscerates the U.S. Department of Housing and Urban Development (HUD) with a 43.6% cut.
Slashes HUD rental assistance programs by 42.8% while foisting responsibility over those programs onto state and local governments. Over 10 million Americans rely on HUD rental assistance, the vast majority of whom are seniors, people with disabilities, and children. This will rip the roofs off Americans’ heads and put even more families at risk of homelessness.
Eliminates or cuts federal programs most targeted to build more affordable housing and address this country’s housing supply shortage, including in Tribal country.
Eliminates the Community Development Block Grant that cities and towns across the country use to improve the quality of life for their citizens every day.
PUBLIC SAFETY:
Slashes the U.S. Department of Justice’s (DOJ) budget by at least $3.7 billion (-10%).
Guts funding for grants to help keep communities safe by over $1 billion (-26%).
Cuts funding for Federal Bureau of Investigation (FBI) salaries and expenses by $545 million (-5%), endangering Americans’ safety.
Cuts funding for Drug Enforcement Agency (DEA) salaries and expenses by $212 million (-7%), weakening the agency’s capacity to crack down on drug trafficking. Also proposes shuttering major DEA offices in countries around the world, noting that those countries “are equipped to counter drug trafficking on their own.”
Cuts funding for the Bureau of Alcohol, Tobacco, Firearms and Explosives’ (ATF) salaries and expenses by $468 million (-29%) as part of the administration’s ongoing attempt to dismantle the agency in charge of enforcing our country’s gun laws.
Cuts $1.386 billion (-22%) from the U.S. Forest Service, gutting grant funding for state and Tribal wildfire risk reduction, volunteer fire departments, and much more. The proposal would cut at least 2,000 National Forest System staff positions, which will severely harm the administration’s stated goals of improving forest management.
Cuts funding for International Narcotics Control and Law Enforcement account by $1.3 billion (-91%) which helps prevent human trafficking, stop drug trafficking, and much more, with direct implications for American communities.
Proposes a reckless $209 million cut for NOAA’s weather satellites, which play a critical role in ensuring Americans have accurate weather forecasting and will result in a gap in observations when the current satellites retire early in the next decade.
NUTRITION:
Eliminates the Commodity Supplemental Food Program, which provides food assistance to low-income individuals 60 years of age and older to supplement diets and addressing potential nutrient deficiencies. The preliminary budget request does not mention any of the other 16 Nutrition Programs, including WIC, The Emergency Food Assistance Program (TEFAP), and the National School Lunch Program.
PUBLIC LANDS:
Cuts $900 million (- 30%) from National Park Service operations, abandoning national parks the administration says should now be transferred to the states, while providing no funding for states to manage massive new obligations that such a dramatic move would entail. This would incentivize states to sell off public lands to the highest bidder, threatening valued open space and areas of natural and historical value to local communities.
AGRICULTURE:
Guts funding for agricultural research, which is critical to ensuring American agriculture is competitive with the rest of the world and provides key resources to help farmers and ranchers prepare and adapt in an uncertain environment. Zeroes out foreign food aid that supports American farmers and is a lifeline for people living in extreme poverty across the world.
TRIBES:
Slashes $911 million (-24%) for core Tribal programs that uphold the federal government’s legally-obligated and court-ordered trust and treaty responsibilities to Tribal nations.
Decimates core Tribal programs, including road maintenance, housing, and programs for children and families.
Nearly eliminates funding for construction of Tribal schools, which are already too often dilapidated, and cuts Tribal law enforcement funding by 20%.
RURAL COMMUNITIES:
Slashes investments in core Rural Development programs by $721 million, including investments in safe drinking water, affordable housing, and resources to bolster the rural economy.
Cuts funding for the U.S. Department of Commerce by $1.9 billion (-18%). Outright eliminates the U.S. Economic Development Administration (EDA), which helps economically distressed communities across America get ahead.
Eliminates all Community Services Block Grant funding ($770 million) for community-based anti-poverty programs that help individuals and families access services to alleviate the causes of poverty.
Eliminates funding to 27 states by zeroing out funding for 6 of 7 regional commissions, which provide grants in economically distressed communities for disaster mitigation, opioid crisis support programming, workforce training, and much more. This includes eliminating the Southwest Border Regional Commission (SBRC).
The Southwest Border Regional Commission (SBRC) is one of eight authorized federal regional commissions and authorities, which are congressionally-chartered, federal-state partnerships created to promote economic development in their respective regions. Congress first authorized the establishment of the SBRC in 2008 to promote economic development in the southern border regions of New Mexico, Arizona, California, and Texas.
Last year, Heinrich secured an expansion of the SBRC’s jurisdiction to include the following counties in New Mexico: Bernalillo, Cibola, Curry, De Baca, Guadalupe, Roosevelt, Torrance, Lea, and Valencia. These are in addition to Catron, Grant, Hidalgo, Luna, Sierra, Socorro, Lincoln, Otero, Eddy, Doña Ana, and Chaves Counties in New Mexico, which are already included within the SBRC’s jurisdiction.
In 2023, Heinrich led the introduction of the Southwest Border Regional Commission Reauthorization Act, legislation to reauthorize and fully fund the Southwest Border Regional Commission (SBRC). The bill was cosponsored by U.S. Senators Ben Ray Luján (D-N.M.), Mark Kelly (D-Ariz.), Alex Padilla (D-Calif.), and former-U.S. Senators Kyrsten Sinema (I-Ariz.), and Laphonza Butler (D-Calif.).
INFRASTRUCTURE:
Cuts funding for the U.S. Bureau of Reclamation by $600 million (-34%), gutting investments in key restoration projects.
Cuts funding for the U.S. Army Corps of Engineers by $2 billion (-23%), slashing funding used to maintain our nation’s ports and harbors.
Cuts funding for Federal Emergency Management Agency (FEMA) non-disaster grants that help communities prepare for disasters, support efforts to prevent violence and terrorism, prepare emergency responders, and more.
Eliminates funding for the Corporation for Public Broadcasting, ending support for more than 1,500 local public television and radio stations.
Eliminates funding for the Institute of Museum and Library Services and the support provided to libraries and museums throughout the United States.
Cuts funding for the U.S. Environmental Protection Agency (EPA) by more than half by abandoning state and Tribal programs that build and maintain drinking water and sewer systems, starving states of longstanding federal funding provided to pay for states’ work enforcing federal laws, and decimating funding for cleaning up toxic Superfund sites. The request would also effectively eliminate research funding used to better understand the impacts on human health from polluted air and water and from toxic chemicals.
ENERGY:
Slashes funding for the Department of Energy overall by $4.7 billion (-9.4%).
Guts funding for Energy Efficiency and Renewable Energy programs by $2.572 billion (-74%) and proposes to rescind $15.25 billion from Infrastructure Law energy programs, which will raise energy costs for American consumers by halting vital innovation and energy projects.
Eliminates the Low Income Home Energy Assistance Program (LIHEAP), which helps 6 million American households heat and cool their homes.
ECONOMIC DEVELOPMENT:
Slashes funding for the Small Business Administration’s (SBA) Entrepreneurial Development Programs by $167 million, proposing the elimination of nearly all programs, including programs that support veterans as they work to start and grow a small business.
Eliminates $291 million in funding for all current Community Development Financial Institutions (CDFI) financial assistance awards, which help leverage private capital to support the development of child care centers, housing, health care facilities, and small businesses. Since 2010, CDFIs have financed over 1.3 million businesses and 557,000 affordable homes.
Completely eliminates the National Endowment for the Arts and the National Endowment for the Humanities, which provide funding for every state and every congressional district for cultural economic development and the creative economy.
Guts funding for the National Oceanic and Atmospheric Administration (NOAA) by $1.5 billion, which would eliminate all manner of programs that create good jobs, help local economies, and support ocean research, health, and coastal resilience.
More than halves funding for the National Science Foundation (NSF) with a $5.2 billion (-57%) cut. Cuts funding for the Department of Energy’s Office of Science by $1.148 billion (-14%). Together, these proposed cuts would decimate America’s edge in essential scientific research that would otherwise drive future economic growth.
FOREIGN ASSISTANCE:
Guts funding for the U.S. Department of State and America’s international security, economic, and humanitarian assistance programs by $31.2 billion (-48%).
Cuts funding for lifesaving and other humanitarian assistance by $4.7 billion (-54%), which will lead to preventable deaths and suffering across the globe, and threaten Americans’ safety and well-being by undercutting our efforts to stop disease outbreaks and prevent conflict. A cut of this magnitude will also lead to more migration of people fleeing poverty, conflict, and natural disasters.
Slashes economic growth and development funding across multiple agencies and accounts by $6 billion (67%) and proposes the final dissolution of the U.S. Agency for International Development (USAID).
Guts funding for global health initiatives by $6.2 billion (-62%).
Reneges on our treaty dues for the United Nations (U.N.), U.N. Peacekeeping operations, and a majority of other international organizations.
SPACE EXPLORATION:
Cuts National Aeronautics and Space Administration (NASA) funding by $6 billion (-24%), the largest single-year cut to NASA in U.S. history, which would mark an incredible retreat for American leadership and ambition in space. Terminates the Artemis Campaign to establish a human presence on the Moon after the Artemis III mission. Slashes funding for the Science Mission Directorate by $3.43 billion (-47%), which would cancel numerous current and planned missions to better understand our universe, solar system, and Earth.

MIL OSI USA News –

May 6, 2025
MIL-OSI: IDEX Biometrics ASA: Results of the exercise of Warrants B

Source: GlobeNewswire (MIL-OSI)

Reference is made to the announcement by IDEX Biometrics ASA (the “Company”) on 12 December 2024 regarding the listing of Warrants A and Warrants B on Oslo Stock Exchange. Warrants B were exercisable between 31 March 2025 and 11 April 2025, and all Warrants B not exercised within such time lapsed without compensation to the holder.

A total of 36,767 Warrants B were exercised, resulting in an aggregate subscription for 36,767 new shares (the “New Shares”) in the Company, each Warrant B having an exercise price of NOK 0.15.

The Board of Directors of the Company has approved the allocation of New Shares to the exercising holders of Warrants B and has consequently resolved to increase the share capital of the Company.

Payment for the allocated New Shares falls due one week after the Board’s resolution. The New Shares will be issued upon registration of the share capital increase in the Norwegian Register of Business Enterprises.

Following registration of the share capital increase in connection with the exercise of Warrants B, the Company’s share capital will be NOK 38,316,309.99, divided into 3,831,630,999 shares each with a nominal value of NOK 0.01.

For more information relating to the Warrants, please refer to the Prospectus approved and published by the Company on 13 November 2024.

For further information contact:

Kristian Flaten, CFO, Tel: +47 95092322

E-mail: ir@idexbiometrics.com

About IDEX Biometrics:

IDEX Biometrics ASA ( IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com .

About this notice:

This notice was published by Kristian Flaten, CFO, 5 May 2025 at 23:35 CET on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

The MIL Network –

May 6, 2025

Category: Commerce

Order Paper for Thursday, 10 April 2025

2.00pm

Business statement

Government motion

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Source: BusinessNZ

British businesses celebrated in third year of The King’s Awards for Enterprise

Gareth Thomas, Minister for Services, Small Businesses and Exports said:

Graham Brown, Managing Director of Sonardyne, said:

Ian Gardner, Managing Director and Founder of Delta Fire, said:

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Dr. Jitendra Singh Reviews DST Projects, Calls for AI led innovations, Support for Deep-Tech StartupsMinister Champions India’s Own AI Open Stack to Propel Nation into Global Science Leadership

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Dr. Jitendra Singh Reviews DST Projects, Calls for AI led innovations, Support for Deep-Tech Startups

Minister Champions India’s Own AI Open Stack to Propel Nation into Global Science Leadership