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  • MIL-OSI: PIMCO Canada Corp. Announces Special Reinvested Distribution for PIMCO Global Income Opportunities Fund for 2024 Year-End

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to United States newswire services or for dissemination in the United States

    TORONTO, March 18, 2025 (GLOBE NEWSWIRE) — PIMCO Canada Corp. (“PIMCO Canada”) announced today that a special reinvested income distribution on the Class A Units (the “Units”) of PIMCO Global Income Opportunities Fund (TSX: PGI.UN) (the “Fund”) in the amount of $0.25496 per Unit was paid on January 15, 2025, to the holders of record at the close of business on December 31, 2024. This amount is for the reinvested distribution only, and does not include the ongoing monthly cash distribution amount, which was announced in a separate press release on December 18, 2024.

    The reinvested distribution was reinvested in Units of the Fund and the resulting Units were immediately consolidated, so that the number of Units held by each unitholder did not change. Unitholders holding their Units outside registered plans will have taxable amounts to report and an increase in the adjusted cost base of their Units.

    The Manager, PIMCO Canada, retains Pacific Investment Management Company LLC (“PIMCO”), to provide investment management services to the Fund.

    About PIMCO

    PIMCO was founded in 1971 in Newport Beach, California and is one of the world’s premier fixed income investment managers. Today we have offices across the globe and 3,000+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

    This is not an offer to sell Units and not a solicitation of an offer to buy Units in any region where the offer or sale is not permitted. Before you invest, you should carefully read the Fund’s disclosure documents and consider carefully the risks you assume when you invest in the Units. There can be no assurance that the Fund will achieve its investment objectives or be able to structure its investment portfolio as anticipated. Copies of the Fund’s disclosure documents may be obtained from your financial advisor.

    Forward-Looking Statements

    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund, PIMCO Canada and/or PIMCO’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Fund, PIMCO Canada and/or PIMCO believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, PIMCO Canada and/or PIMCO undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.

    You will usually pay brokerage fees to your dealer if you purchase or sell Units on the Toronto Stock Exchange (the “TSX”). If the Units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying Units and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning Units. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in these documents. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

    The Fund is a closed end exchange traded investment fund. Closed end funds, unlike open end funds, are not continuously offered. After the initial public offering, shares of closed end funds are sold on the open market through a stock exchange. For additional information, contact your financial advisor.

    For a summary of the risks of an investment in the Fund, please see the Principal Risks of the Fund section of the prospectus. Units of closed end funds frequently trade at a discount to their net asset value, which may increase risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

    PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager, and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2025, PIMCO

    The products and services provided by PIMCO Canada Corp. may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose.

    PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.

    PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2, 416-368-3350

    Contact:
    Agnes Crane
    PIMCO – Media Relations
    Phone: +212 597.1054

    The MIL Network –

  • MIL-OSI Europe: Answer to a written question – Defective building blocks in Ireland – E-002738/2024(ASW)

    Source: European Parliament

    In July 2024, the Commission opened an infringement procedure[1] against Ireland for not carrying out market surveillance as required by the Construction Products Regulation (EU) 305/2011[2]. The Commission is assessing Ireland’s reply to the letter of formal notice.

    The Product Liability Directive 85/374/EEC[3] lays down rules on producers’ liability for damages caused by defective products. Victims can claim compensation for damage to, or destruction of, their property. The directive also covers construction materials used in buildings.

    To obtain compensation, victims must prove defectiveness of the product and the consequent damage caused, without having to prove fault or negligence from the producer.

    Compensation for the defective product itself is excluded from the directive. The directive specifies that the damage caused by the product must be compensated in full. Where a producer is established outside the EU or cannot be identified, importers or suppliers can be held liable on its behalf.

    Consumers who bought defective construction materials from professional sellers also have rights under the Sale of Goods Directive[4], including the right to rescind the sales contract.

    Sellers are liable for the lack of conformity that becomes apparent during a period of two years from delivery. Member States can provide for longer liability periods in national law[5].

    Member States have a primary responsibility to monitor and enforce the application of the relevant legal provisions. The Commission will continue to monitor the situation and may decide to take appropriate action.

    National market surveillance authorities are responsible for checking manufacturers’ compliance with their obligations under Regulation (EU) 305/2011.

    • [1] INFR(2024)4003: https://ec.europa.eu/atwork/applying-eu-law/infringements-proceedings/infringement_decisions/?langCode=EN&version=v1&typeOfSearch=byDecision&page=1&size=10&order=desc&sortColumns=decisionDate&refId=INFR(2024)4003&activeCase=true
    • [2] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:02011R0305-20241117
    • [3] Directive (EU) 2024/2853 of the European Parliament and of the Council of 23 October 2024 on liability for defective products and repealing Council Directive 85/374/EEC.
    • [4] Directive (EU) 2019/771 of the European Parliament and of the Council of 20 May 2019 on certain aspects concerning contracts for the sale of goods. The directive applies to sales contracts concluded from 1 June 2022 and similar rules applied under Directive 1999/44/EC of the European Parliament and of the Council of 25 May 1999 on certain aspects of the sale of consumer goods and associated guarantees. to contracts conclude before that date.
    • [5] For example, in Ireland national law goes beyond the minimum requirements of the directive and provides a general six-year limitation period for contract claims.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Estill County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Estill County

    Disaster Recovery Center Opens in Estill County

    FRANKFORT, Ky

    –A Disaster Recovery Center will open tomorrow, March 18, in Estill County

    Disaster Recovery Centers, operated by the Kentucky Division of Emergency Management and FEMA, offer in-person support to survivors in declared counties as the result of severe storms, straight-line winds, flooding, landslides and mudslides from February

      FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    The deadline to apply for federal assistance is April 25

    Address: City of Irvine City Hall, 101 Chestnut St

    , Irvine, KY 40336Hours: 7 a

    m

    to 7 p

    m

    EDT Monday through Saturday and 1 to 7 p

    m

    EDT on SundaysMore Disaster Recovery Centers will continue to open in the counties eligible for disaster assistance

     In addition to FEMA personnel, representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will be available at the recovery centers to assist survivors

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA mobile app or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For an accessible video on how to apply for FEMA assistance, go to youtube

    com/watch?v=WZGpWI2RCNw

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Tue, 03/18/2025 – 13:02

    MIL OSI USA News –

  • MIL-OSI Economics: Verizon Business launches industry-first GenAI Assistant for small businesses

    Source: Verizon

    Headline: Verizon Business launches industry-first GenAI Assistant for small businesses

    What you need to know:

    • Verizon Business Assistant is an easy-to-deploy solution that small businesses can start using immediately to free up time and answer customer questions via text 24/7.
    • Small businesses now have the same opportunity to leverage AI as global enterprises to automate and enhance their customer interactions with a generative AI assistant
    • Small business owners want to make their businesses more efficient through technology, and better connect with new and existing customers, according to Verizon Business’ fifth Annual State of Small Business Report

    NEW YORK — Small businesses can now harness the power of Generative Artificial Intelligence (GenAI) to supercharge their operations. The newest product built directly for small businesses, Verizon Business Assistant is a GenAI-powered text messaging solution designed to help small businesses automate customer interactions and enhance engagement. Business Assistant provides instant text responses to commonly asked questions, learns and improves over time, and enables businesses to offer faster and more efficient customer service.

    How it works: 

    If a customer texts a bakery to ask about gluten-free options, Business Assistant can instantly respond using GenAI. If it doesn’t yet have the answer, it will then connect to a live employee for assistance. The best part is that it learns from interactions, building a knowledge base that improves over time. Ultimately, Business Assistant reduces the need for human intervention, allowing employees to focus on higher-value tasks while ensuring customers get fast, accurate responses.

    “Small business owners are constantly juggling multiple responsibilities, and want to use technology to improve operations and better connect with their customers,” said Iris Meijer, Chief Product & Marketing Officer, Verizon Business. “Yet access to that technology and AI tools that work for small businesses can be a challenge, which is where we want to help champion them. Verizon Business Assistant is one example of a solution we’re rolling out to support small business owners. It also addresses an increasing customer demand – particularly from younger generations – for easy digital tools to communicate with businesses on simple matters. This allows small business owners to focus on growing their business while ensuring their customers feel valued and connected to the business.”

    Business Assistant is ideal for small business owners looking to:

    • Save time by automating responses to common questions, freeing up time for other tasks.
    • Serve more customers efficiently with the ability to automatically respond to inquiries via text message 24/7.
    • Enhance customer engagement by providing a fast, convenient, and preferred communication channel.
    • Gain insights into customer needs and preferences through interaction data.

    Key features include:

    • Automated Responses: Provides immediate answers to common customer inquiries, freeing up valuable time for business owners and employees.
    • Live Team Member Handoff: Transitions complex inquiries to a live team member for a personalized experience.
    • Continuous Learning: Expands its knowledge base over time, improving accuracy with more interactions.
    • Text Messaging (SMS/MMS): Uses a familiar and convenient channel for easy communication between businesses and customers.
    • Insights Dashboard: Gives business owners valuable data on customer trends and engagement patterns.
    • Easy to set up: The setup is straightforward, easily integrates with existing Verizon mobile devices, and requires no new hardware or software.
    • Customizable: Gives business owners the power to choose how it is trained and what answers are desired for any potential question.

    For more ways Verizon Business supports small businesses, visit Small Business Solutions.

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    Source: Verizon

    Headline: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    • Partnership brings together industry leaders in mobility and banking to provide a secure, seamless digital banking experience to Verizon customers with no fees, low minimum deposits and 24/7 access to funds.
    • Relationship significantly expands Santander’s national scale and reach as part of its strategy to become a leading digital bank with branches and enhances Verizon’s financial service portfolio with added benefits for customers.

    Verizon and Santander Bank, N.A., part of the global banking leader Santander1, today announced a multi-year U.S. partnership to bring a new, competitive high yield savings account to millions of Verizon mobile and 5G Home customers. Introducing Verizon + Openbank Savings: a digital high yield savings account with a rate 10 times the national average and the ability to save up to $180 a year on your Verizon bill. Verizon + Openbank Savings joins Verizon’s portfolio of financial services offerings, yet another example of outstanding value and benefits on top of mobile and home connectivity.

    “Verizon has long been committed to delivering value and savings beyond wireless services,” said Hans Vestberg, Chairman and CEO of Verizon. “Our scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank’s secure, simple high yield savings account to our financial offerings provides Verizon customers with unique and differentiated value in the telco and financial services category. This collaboration reinforces our dedication to delivering meaningful and exclusive benefits that support how our customers live, work, play AND save.”

    Ana Botín, Banco Santander Executive Chair, added, “By partnering with Verizon, the nation’s leading mobile provider, Openbank can offer a differentiated savings opportunity and digital experience to millions of consumers across the U.S. The Verizon partnership is a significant milestone for Santander as we scale our U.S. business further by bringing Openbank’s secure and simple banking experience and compelling rewards to Verizon’s customers nationwide — backed by a leading global bank that has earned the trust of more than 173 million customers. This is an important step in our growth strategy, and I am excited for what’s ahead.”

    Incredible savings with Verizon + Openbank

    In addition to maximizing savings with Verizon + Openbank’s competitive interest rate at 10 times the national average, customers can also save on their Verizon wireless bill, starting with a minimum average daily balance of $1,000. The higher the average daily balance, the higher the wireless bill savings — up to $180 per year.

    Signing up is simple

    Starting in April, Verizon customers can easily sign up for an Openbank high yield savings account via verizon.com or the MyVerizon app. Customers will then be directed to the Openbank site to complete the account registration process. After opening their account, customers can use the Openbank app to deposit and withdraw funds, check their monthly interest rate and manage their accounts. To learn more, you can visit verizon.com/startsaving.

    Unlocking a savings growth opportunity

    Santander US research reveals that while interest rates have been at their highest levels in nearly two decades, many consumers have not taken advantage of high-rate products, such as high yield savings accounts, to grow their savings. The research also found consumers’ top consideration for selecting a banking partner are safety, stability, and 24/7 digital access. Openbank’s digital platform provides a secure, seamless banking experience with no fees, low minimum deposits and 24/7 access to funds and customer support.

    The Openbank digital banking platform launched in the U.S. market in late 2024 with a high yield savings account offering that quickly reached more than $3 billion (USD) in deposits. The digital platform is now available nationwide, and will begin offering additional products, such as Certificates of Deposit (CDs) and Checking Accounts, later in 2025. Openbank in the U.S. is a division of Santander Bank, N.A., which is a Member of the FDIC. For more information about Openbank by Santander, including eligibility, please visit openbank.us.

    With exclusive savings, top-tier perks, the flexibility to customize your plan with myPlan and myHome, and now the incredible Verizon + Openbank Savings account, it’s never been a better time to be a Verizon customer.

    1 Banco Santander is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2024, Banco Santander had €1.3 trillion in total funds, 173 million customers, 8,000 branches and 207,000 employees.

    Verizon + Openbank Savings is offered exclusively by Openbank, a division of Santander Bank, N.A., and is not managed, housed, or controlled by Verizon. Santander Bank, N.A., offering your account through its Openbank division, is a Federal Deposit Insurance Corporation (“FDIC”) insured institution. Deposits at Santander Bank, N.A. and its Openbank division are combined for FDIC insurance purposes (FDIC Cert. 29950) and are not separately

    insured. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Please visit fdic.gov for details. Verizon is not a chartered banking institution and is not insured by FDIC.

    MIL OSI Economics –

  • MIL-OSI: Micron Innovates From the Data Center to the Edge With NVIDIA

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., March 18, 2025 (GLOBE NEWSWIRE) — GTC 2025 — Secular growth of AI is built on the foundation of high-performance, high-bandwidth memory solutions. These high-performing memory solutions are critical to unlock the capabilities of GPUs and processors. Micron Technology, Inc. (Nasdaq: MU), today announced it is the world’s first and only memory company shipping both HBM3E and SOCAMM (small outline compression attached memory module) products for AI servers in the data center. This extends Micron’s industry leadership in designing and delivering low-power DDR (LPDDR) for data center applications.

    Micron’s SOCAMM, a modular LPDDR5X memory solution, was developed in collaboration with NVIDIA to support the NVIDIA GB300 Grace™ Blackwell Ultra Superchip. The Micron HBM3E 12H 36GB is also designed into the NVIDIA HGX™ B300 NVL16 and GB300 NVL72 platforms, while the HBM3E 8H 24GB is available for the NVIDIA HGX B200 and GB200 NVL72 platforms. The deployment of Micron HBM3E products in NVIDIA Hopper and NVIDIA Blackwell systems underscores Micron’s critical role in accelerating AI workloads.

    Think AI, think memory, think Micron
    At GTC 2025, Micron will showcase its complete AI memory and storage portfolio to fuel AI from the data center to the edge, highlighting the deep alignment between Micron and its ecosystem partners. Micron’s broad portfolio includes HBM3E 8H 24GB and HBM3E 12H 36GB, LPDDR5X SOCAMMs, GDDR7 and high-capacity DDR5 RDIMMs and MRDIMMs. Additionally, Micron offers an industry-leading portfolio of data center SSDs and automotive and industrial products such as UFS4.1, NVMe® SSDs and LPDDR5X, all of which are suited for edge compute applications.

    “AI is driving a paradigm shift in computing, and memory is at the heart of this evolution. Micron’s contributions to the NVIDIA Grace Blackwell platform yields significant performance and power-saving benefits for AI training and inference applications,” said Raj Narasimhan, senior vice president and general manager of Micron’s Compute and Networking Business Unit. “HBM and LP memory solutions help unlock improved computational capabilities for GPUs.”

    SOCAMM: a new standard for AI memory performance and efficiency
    Micron’s SOCAMM solution is now in volume production. The modular SOCAMM solution enables accelerated data processing, superior performance, unmatched power efficiency and enhanced serviceability to provide high-capacity memory for increasing AI workload requirements.

    Micron SOCAMM is the world’s fastest, smallest, lowest-power and highest capacity modular memory solution,1 designed to meet the demands of AI servers and data-intensive applications. This new SOCAMM solution enables data centers to get the same compute capacity with better bandwidth, improved power consumption and scaling capabilities to provide infrastructure flexibility.

    • Fastest: SOCAMMs provide over 2.5 times higher bandwidth at the same capacity when compared to RDIMMs, allowing faster access to larger training datasets and more complex models, as well as increasing throughput for inference workloads.2
    • Smallest: At 14x90mm, the innovative SOCAMM form factor occupies one-third of the size of the industry-standard RDIMM form factor, enabling compact, efficient server design.3
    • Lowest power: Leveraging LPDDR5X memory, SOCAMM products consume one-third the power compared to standard DDR5 RDIMMs, inflecting the power performance curve in AI architectures.4
    • Highest capacity: SOCAMM solutions use four placements of 16-die stacks of LPDDR5X memory to enable a 128GB memory module, offering the highest capacity LPDDR5X memory solution, which is essential for advancements towards faster AI model training and increased concurrent users for inference workloads.  
    • Optimized scalability and serviceability: SOCAMM’s modular design and innovative stacking technology improve serviceability and aid the design of liquid-cooled servers. The enhanced error correction feature in Micron’s LPDDR5X with data center-focused test flows, provides an optimized memory solution designed for the data center.

    Industry-leading HBM solutions
    Micron continues its competitive lead in the AI industry by offering 50% increased capacity over the HBM3E 8H 24GB within the same cube form factor.5 Additionally, the HBM3E12H 36GB provides up to 20% lower power consumption compared to the competition’s HBM3E 8H 24GB offering, while providing 50% higher memory capacity.6

    By continuing to deliver exceptional power and performance metrics, Micron aims to maintain its technology momentum as a leading AI memory solutions provider through the launch of HBM4. Micron’s HBM4 solution is expected to boost performance by over 50% compared to HBM3E.7

    Complete memory and storage solutions designed for AI from the data center to the edge
    Micron also has a proven portfolio of storage products designed to meet the growing demands of AI workloads. Advancing storage technology in performance and power efficiency at the speed of light requires tight collaboration with ecosystem partners to ensure interoperability and a seamless customer experience. Micron delivers optimized SSDs for AI workloads such as: inference, training, data preparation, analytics and data lakes. Micron will be showcasing the following storage solutions at GTC:

    • High-performance Micron 9550 NVMe and Micron 7450 NVMe SSDs included on the GB200 NVL72 recommended vendor list.
    • Micron’s PCIe Gen6 SSD, demonstrating over 27GB/s of bandwidth in successful interoperability testing with leading PCIe switch and retimer vendors, driving the industry to this new generation of flash storage.
    • Storing more data in less space is essential to get the most out of AI data centers. The Micron 61.44TB 6550 ION NVMe SSD is the drive of choice for bleeding-edge AI cluster exascale storage solutions, by delivering over 44 petabytes of storage per rack,8 14GB/s and 2 million IOPs per drive inside a 20-watt footprint.

    As AI and generative AI expand and are integrated on-device at the edge, Micron is working closely with key ecosystem partners to deliver innovative solutions for AI for automotive, industrial and consumer. In addition to high performance requirements, these applications require enhanced quality, reliability and longevity requirements for application usage models.

    • One example of this type of ecosystem collaboration is the integration of Micron LPDDR5X on the NVIDIA DRIVE AGX Orin platform. This combined solution provides increased processing performance and bandwidth while also reducing power consumption.
    • By utilizing Micron’s 1β (1-beta) DRAM node, LPDDR5X memory meets automotive and industrial requirements and offers higher speeds up to 9.6 Gbps and increased capacities from 32Gb to 128Gb to support higher bandwidth.
    • Additionally, Micron LPDDR5X automotive products support operating environments from -40 degrees Celsius up to 125 degrees Celsius to provide a wide temperature range that meets automotive quality and standards.

    Micron will exhibit its full data center memory and storage product portfolio at GTC, March 17 – 21, in booth #541.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    Additional Resources: 

    About Micron Technology, Inc.
    Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. 

    © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    Micron Media Relations Contact 
      Kelly Sasso 
      Micron Technology, Inc. 
      +1 (208) 340-2410 
      ksasso@micron.com

    ___________________
    1 Calculations based on comparing one 64GB 128-bit bus SOCAMM to two 32GB 64-bit bus RDIMMs.

    2 Calculated using transfer speeds comparing 64GB 2R 8533MT/s SOCAMM and 64GB 2Rx4 6400MT/s RDIMMs. ​

    3 Calculated area between one SOCAMM and one RDIMM​.

    4 Calculated based on power used in watts by one 128GB, 128-bit bus width SOCAMM compared to two 128GB, 128-bit bus width DDR5 RDIMMs​.

    5 Comparison based on HBM3E 36GB capacity versus HBM3E 24GB capacity when both are at the 12x10mm package size.

    6 Based on internal calculations, and customer testing and feedback for Micron HBM3E versus the competition’s HBM3E offerings.

    7 Calculated bandwidth by comparing HBM4 and HBM3E specifications.

    8 Assumes 20x 61.44TB E3.S SSDs in a 1U server with 20x E3.S slots available for storage and that 36 rack units are available for the servers in each rack.

    The MIL Network –

  • MIL-OSI: Aterian Reports Fourth Quarter & Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Introduces Annual Guidance for 2025
    Announces $3 Million Share Repurchase Program

    SUMMIT, N.J., March 18, 2025 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”), a technology-enabled consumer products company, today announced financial results for the fourth quarter and full year ended December 31, 2024.

    “Aterian’s results for 2024 reflect our team’s success in executing a strategy to focus, stabilize, and simplify our operations in preparation for a resumption of growth and improved operating performance, ” said Arturo Rodriguez, Chief Executive Officer.

    “Our decision to rationalize SKUs and focus on the Company’s six foundational brands generated material improvements in gross margin and contribution margin, and narrowed our losses significantly compared to 2023,” continued Mr. Rodriguez. “We improved our cash flow and working capital profile, reduced debt by more than $4.0 million, and right sized our inventory to focus on Aterian’s most profitable products. These initiatives created a momentum that we believe will carry into 2025. Despite tariffs, we are confident that in 2025, especially with our experienced and tenacious team, we will be able to generate higher revenues, achieve greater operating efficiency, and further improve our profit profile. Our growth will be driven by new product introductions beginning in the second quarter of 2025 and access to a broader base of consumers through our sales channel initiatives.”

    Fourth Quarter 2024 Highlights
    All comparisons are to the fourth quarter ended December 31, 2023

    • Net revenue was $24.6 million compared to $32.8 million, primarily reflecting the previously announced SKU rationalization designed to focus on the Company’s most profitable products, lower liquidation levels of high-cost inventory, and initial contributions from new product introductions.
    • Gross margin improved to 63.4% from 51.0%, reflecting the success of the above-referenced SKU rationalization and improved inventory profile.
    • Contribution margin improved to 19.4% from (0.8%).
    • Operating loss narrowed to ($1.6) million from an operating loss of ($8.2) million. Fourth quarter 2024 operating loss included ($1.1) million of non-cash stock compensation, while fourth quarter 2023 operating loss included ($1.6) million of non-cash stock compensation, a non-cash loss on impairment of an intangible of ($0.3) million and a reserve for barter credits of ($0.3).
    • Net loss improved to ($1.3) million from ($7.7) million. Fourth quarter 2024 net loss included ($1.1) million of non-cash stock compensation and a gain on fair value of warrant liability of $0.2 million, while fourth quarter 2023 net loss included a reserve for barter credits of ($0.3) million, ($1.6) million of non-cash stock compensation, a non-cash loss on impairment of an intangible of ($0.3) million.
    • Adjusted EBITDA loss improved to ($0.1) million from a loss of ($5.6) million.
    • Total cash balance at December 31, 2024 was $18.0 million, up from $16.1 million at September 30, 2024.
    • Cash flow from operations improved to break-even from cash used in operations of ($4.9) million for the three months ended December 31, 2023.

    Full Year 2024 Highlights
    All comparisons are to the full year ended December 31, 2023

    • Net revenue declined to $99.0 million from $142.6 million, reflecting the success of the SKU rationalization, improved inventory profile, and new product introductions.
    • Gross margin improved to 62.1% compared to 49.3% in 2023, primarily reflecting the success of the above-referenced SKU rationalization and improved inventory profile.
    • Contribution margin rose to 17.1% from 1.2% in 2023.
    • Operating loss improved to ($11.8) million from ($76.2) million in 2023. Full year 2024 operating loss included ($7.5) million of non-cash stock compensation, and restructuring costs of ($0.6) million, while full year 2023 operating loss included ($8.3) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($39.7) million, restructuring costs of ($1.6) million and a reserve for barter credits of ($0.3).
    • Net loss narrowed to ($11.9) million from ($74.6) million in 2023. Full year 2024 net loss includes ($7.5) million of non-cash stock compensation, restructuring costs of ($0.6) million, and a gain on fair value of warrant liability of $0.9 million, while full year 2023 net loss included ($8.3) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($39.7) million, restructuring costs of ($1.6) million, a gain on fair value of warrant liability of $2.4 million, and a reserve on barter credits of ($0.3) million.
    • Adjusted EBITDA loss improved to ($2.1) million from a loss of ($22.3) million in 2023.
    • Total cash balance at December 31, 2024 was $18.0 million, down from $20.0 million at December 31, 2023.
    • Cash flow from operations improved to $2.2 million from cash used in operations of ($13.4) million for the year ended December 31, 2023.

    2025 Outlook

    For fiscal year 2025, taking into account the current global environment and impact of recently announced tariffs, the Company believes that net revenue will be between $104 million and $106 million, an increase of between 5% and 7% from net revenue of $99.0 million 2024. When considering approximately $4 million of net sales in 2024 related to discontinued SKUs, net revenue in 2025 is expected to increase on a pro forma basis by 9% to 12%.

    The Company expects 2025 annual Adjusted EBITDA to be essentially break-even compared to an Adjusted EBITDA loss of $(2.1) million in 2024, reflecting the success of the Company’s business improvement initiatives, offset by the impacts of recently announced tariffs.

    Josh Feldman, Chief Financial Officer commented, “We continue to monitor the tariff situation and its potential impact on our operations and outlook. We have already taken steps that we believe will mitigate the negative effects of tariffs in 2025, and are prepared to take further action as necessary. With the support of an exceptional team, an inherent agility, and strong balance sheet, we remain confident in our ability to successfully and proactively navigate these challenges while remaining focused on long-term growth and profitability.”

    Share Repurchase Plan
    As announced earlier today, the Company’s Board of Directors has authorized a share repurchase program of up to $3.0 million of the Company’s common stock for a period of two years ending March 18, 2027.

    Non-GAAP Financial Measures
    For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Non-GAAP Financial Measures” section below. The most directly comparable GAAP financial measure for EBITDA and adjusted EBITDA is net loss and we expect to report a net loss for the years ending December 31, 2024 and December 31, 2025 due primarily to our operating losses, which includes stock-based compensation expense, and interest expense. We are unable to reconcile the forward-looking statements of EBITDA and adjusted EBITDA in this press release to their nearest GAAP measures because the nearest GAAP financial measures are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort.

    Webcast and Conference Call Information
    Aterian will host a live conference call to discuss financial results today, March 18, 2025, at 5:00 p.m. Eastern Time, which will be accessible by telephone and the internet. To access the call, participants from within the U.S. should dial (800) 715-9871 and participants from outside the U.S. should dial (646) 307-1963 and ask to be joined into the Aterian, Inc. call or use conference ID 3432648. Participants may also access the call through a live webcast at https://ir.aterian.io. The archived online replay will be available for a limited time after the call in the investors section of the Aterian corporate website.

    About Aterian, Inc.
    Aterian, Inc. (Nasdaq: ATER) is a technology-enabled consumer products company that builds and acquires leading e-commerce brands with top selling consumer products, in multiple categories, including home and kitchen appliances, health and wellness and air quality devices. The Company sells across the world’s largest online marketplaces with a focus on Amazon, Walmart and Target in the U.S. and on its own direct to consumer websites. Our primary brands include Squatty Potty, hOmeLabs, Mueller Living, Pursteam, Healing Solutions and Photo Paper Direct.

    Forward Looking Statements
    All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding our projected net revenue and adjusted EBITDA for 2025, our guidance for 2025 and the current global environment and inflation. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our ability to continue as a going concern, our ability to meet financial covenants with our lenders, our ability to maintain and to grow market share in existing and new product categories; our ability to continue to profitably sell the SKUs we operate; our ability to maintain Amazon’s Prime badge on our seller accounts or reinstate the Prime badge in the event of any removal of such badge by Amazon; our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.

    Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    Investor Contact:

    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

     
    ATERIAN, INC.
    Consolidated Balance Sheets
    (in thousands, except share and per share data)
     
        December 31,
    2023    		   December 31,
    2024
    ASSETS        
    Current assets:        
    Cash   $ 20,023     $ 17,998  
    Accounts receivable, net     4,225       3,782  
    Inventory     20,390       13,749  
    Prepaid and other current assets     4,998       3,190  
    Total current assets     49,636       38,719  
    Property and equipment, net     775       685  
    Intangibles, net     11,320       9,757  
    Other non-current assets     138       381  
    Total assets   $ 61,869     $ 49,542  
    LIABILITIES AND STOCKHOLDERS’ EQUITY        
    Current liabilities:        
    Credit facility   $ 11,098     $ 6,948  
    Accounts payable     4,190       3,080  
    Seller notes     1,049       466  
    Accrued and other current liabilities     9,110       8,804  
    Total current liabilities     25,447       19,298  
    Other liabilities     391       227  
    Total liabilities     25,838       19,525  
    Commitments and contingencies        
    Stockholders’ equity:        
    Common stock, $0.0001 par value, 500,000,000 shares authorized and 7,508,246 and 8,750,741 shares outstanding at December 31, 2023 and December 31, 2024, respectively(*)     9       9  
    Additional paid-in capital     736,675       742,591  
    Accumulated deficit     (699,815 )     (711,677 )
    Accumulated other comprehensive loss     (838 )     (906 )
    Total stockholders’ equity     36,031       30,017  
    Total liabilities and stockholders’ equity   $ 61,869     $ 49,542  

    (*) The number of shares and per share amounts have been retroactively restated to reflect the one for twelve (1 for 12) reverse stock split, which was effective on March 22, 2024. 

     
    ATERIAN, INC. 
    Consolidated Statements of Operations 
    (in thousands, except share and per share data)
     
        Three Months Ended
    December 31,    		   Year Ended
    December 31,
        2023   2024   2023   2024
    Net revenue   $ 32,754     $ 24,607     $ 142,566     $ 99,045  
    Cost of goods sold     16,045       9,000       72,281       37,550  
    Gross profit     16,709       15,607       70,285       61,495  
    Operating expenses:                
    Sales and distribution     20,207       13,692       81,911       55,979  
    Research and development     808       —       4,616       —  
    General and administrative     3,654       3,527       20,220       17,339  
    Impairment loss on intangibles     283       —       39,728       —  
    Total operating expenses     24,952       17,219       146,475       73,318  
    Operating loss     (8,243 )     (1,612 )     (76,190 )     (11,823 )
    Interest expense, net     345       209       1,421       949  
    Change in fair value of warrant liabilities     (30 )     (194 )     (2,440 )     (924 )
    Other expense, net     158       (215 )     260       61  
    Loss before income taxes     (8,716 )     (1,412 )     (75,431 )     (11,909 )
    Benefit for income taxes     (1,009 )     (113 )     (867 )     (47 )
    Net loss   $ (7,707 )   $ (1,299 )   $ (74,564 )   $ (11,862 )
    Net loss per share, basic and diluted   $ (1.16 )   $ (0.18 )   $ (11.43 )   $ (1.68 )
    Weighted-average number of shares outstanding, basic and diluted(*)     6,622,540       7,343,880       6,524,589       7,069,404  

    (*) The number of shares and per share amounts have been retroactively restated to reflect the one-for-twelve (1-for-12) reverse stock split, which was effective on March 22, 2024.

     
    ATERIAN, INC. 
    Consolidated Statement of Cash Flows 
    (in thousands, except share and per share data)
     
        Year Ended December 31,
        2023   2024
    OPERATING ACTIVITIES:        
    Net loss   $ (74,564 )   $ (11,862 )
    Adjustments to reconcile net loss to net cash (used in) provided by operating activities:        
    Depreciation and amortization     3,886       1,689  
    (Recovery) provision for sales returns     (413 )     57  
    Amortization of deferred financing cost and debt discounts     429       198  
    Stock-based compensation     8,336       7,510  
    Change in deferred tax expense     (1,153 )     (5 )
    Change in inventory provisions     (3,149 )     (2,738 )
    Change in fair value of warrant liabilities     (2,440 )     (924 )
    Impairment loss on intangibles     39,728       —  
    Provision for barter credits     323       —  
    Allowance for credit losses     85       16  
    Changes in assets and liabilities:        
    Accounts receivable     205       427  
    Inventory     26,426       9,378  
    Prepaid and other current assets     2,597       762  
    Accounts payable, accrued and other liabilities     (13,684 )     (2,343 )
    Cash (used in) provided by operating activities     (13,388 )     2,165  
    INVESTING ACTIVITIES:        
    Purchase of fixed assets     (119 )     (42 )
    Purchase of Step and Go assets     (125 )     —  
    Purchase of minority equity investment     —       (200 )
    Cash used in investing activities     (244 )     (242 )
    FINANCING ACTIVITIES:        
    Repayments on seller notes     (668 )     (633 )
    Borrowings from MidCap credit facilities     79,806       60,866  
    Repayments for MidCap credit facilities     (90,190 )     (65,165 )
    Insurance obligation payments     (1,042 )     (682 )
    Insurance financing proceeds     986       700  
    Cash used in financing activities     (11,108 )     (4,914 )
    Foreign currency effect on cash, cash equivalents, and restricted cash     306       (61 )
    Net change in cash and restricted cash for the year     (24,434 )     (3,052 )
    Cash and restricted cash at beginning of year     46,629       22,195  
    Cash and restricted cash at end of year   $ 22,195     $ 19,143  
    RECONCILIATION OF CASH AND RESTRICTED CASH:        
    Cash     20,023       17,998  
    Restricted cash—Prepaid and other current assets     2,043       1,015  
    Restricted cash—Other non-current assets     129       130  
    TOTAL CASH AND RESTRICTED CASH   $ 22,195     $ 19,143  
             
    SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
    Cash paid for interest   $ 1,718     $ 1,141  
    Cash paid for taxes   $ 94     $ 152  
    NON-CASH INVESTING AND FINANCING ACTIVITIES:        
    Non-cash consideration paid to contractors   $ 321     $ 620  
    Non-cash minority equity investment   $ —     $ 50  

    Non-GAAP Financial Measures
    We believe that our financial statements and the other financial data included in this press release have been prepared in a manner that complies, in all material respects, with generally accepted accounting principles in the U.S. (“GAAP”). However, for the reasons discussed below, we have presented certain non-GAAP measures herein.

    We have presented the following non-GAAP measures to assist investors in understanding our core net operating results on an on-going basis: (i) Contribution Margin; (ii) Contribution margin as a percentage of net revenue; (iii) EBITDA (iv) Adjusted EBITDA; and (v) Adjusted EBITDA as a percentage of net revenue. These non-GAAP financial measures may also assist investors in making comparisons of our core operating results with those of other companies.

    As used herein, Contribution margin represents gross profit less amortization of inventory step-up from acquisitions (included in cost of goods sold), reserve on barter credits and e-commerce platform commissions, online advertising, selling and logistics expenses (included in sales and distribution expenses). As used herein, Contribution margin as a percentage of net revenue represents Contribution margin divided by net revenue. As used herein, EBITDA represents net loss plus depreciation and amortization, interest expense, net and provision for income taxes. As used herein, Adjusted EBITDA represents EBITDA plus stock-based compensation expense, changes in fair-market value of warrant liability, impairment on intangibles, restructuring expenses, reserve on barter credits, and other expenses, net. As used herein, Adjusted EBITDA as a percentage of net revenue represents Adjusted EBITDA divided by net revenue. Contribution margin, EBITDA and Adjusted EBITDA do not represent and should not be considered as alternatives to loss from operations or net loss, as determined under GAAP.

    We present Contribution margin and Contribution margin as a percentage of net revenue, as we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to gross profit, provides useful supplemental information for investors. Specifically, Contribution margin and Contribution margin as a percentage of net revenue are two of our key metrics in running our business. All product decisions made by us, from the approval of launching a new product and to the liquidation of a product at the end of its life cycle, are measured primarily from Contribution margin and/or Contribution margin as a percentage of net revenue. Further, we believe these measures provide improved transparency to our stockholders to determine the performance of our products prior to fixed costs as opposed to referencing gross profit alone.

    In the reconciliation to calculate contribution margin, we add e-commerce platform commissions, online advertising, selling and logistics expenses (“sales and distribution variable expense”), and the reserve for barter credits to gross profit to inform users of our financial statements of what our product profitability is at each period prior to fixed costs (such as sales and distribution expenses such as salaries as well as research and development expenses and general administrative expenses). By excluding these fixed costs, we believe this allows users of our financial statements to understand our products performance and allows them to measure our products performance over time.

    We present EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue because we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to net loss, provide useful supplemental information for investors. We use these measures with financial measures prepared in accordance with GAAP, such as sales and gross margins, to assess our historical and prospective operating performance, to provide meaningful comparisons of operating performance across periods, to enhance our understanding of our operating performance and to compare our performance to that of our peers and competitors. We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue are useful to investors in assessing the operating performance of our business without the effect of non-cash items.

    Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue should not be considered in isolation or as alternatives to net loss, loss from operations or any other measure of financial performance calculated and prescribed in accordance with GAAP. Neither EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue should be considered a measure of discretionary cash available to us to invest in the growth of our business. Our Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue may not be comparable to similar titled measures in other organizations because other organizations may not calculate Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue in the same manner as we do. Our presentation of Contribution margin and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by the expenses that are excluded from such terms or by unusual or non-recurring items.

    We recognize that EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, have limitations as analytical financial measures. For example, neither EBITDA nor Adjusted EBITDA reflects:

    • our capital expenditures or future requirements for capital expenditures or mergers and acquisitions;
    • the interest expense or the cash requirements necessary to service interest expense or principal payments, associated with indebtedness;
    • depreciation and amortization, which are non-cash charges, although the assets being depreciated and amortized will likely have to be replaced in the future, or any cash requirements for the replacement of assets;
    • changes in cash requirements for our working capital needs; or
    • changes in fair value of warrant liabilities

    Additionally, Adjusted EBITDA excludes non-cash expense for stock-based compensation, which is and is expected to remain a key element of our overall long-term incentive compensation package.

    We also recognize that Contribution margin and Contribution margin as a percentage of net revenue have limitations as analytical financial measures. For example, Contribution margin does not reflect:

    • general and administrative expense necessary to operate our business;
    • research and development expenses necessary for the development, operation and support of our software platform;
    • the fixed costs portion of our sales and distribution expenses including stock-based compensation expense; or
    • changes in fair value warrant liabilities

    Contribution Margin

    The following table provides a reconciliation of Contribution margin to gross profit and Contribution margin as a percentage of net revenue to gross profit as a percentage of net revenue, which are the most directly comparable financial measures presented in accordance with GAAP.

        Three Months Ended December 31,   Year Ended
    December 31.    		  
        2023   2024   2023   2024  
        (in thousands, except percentages)  
    Gross Profit   $ 16,709     $ 15,607     $ 70,285     $ 61,495    
    Less:                  
    Reserve on barter credits     323       —       323       —    
    E-commerce platform commissions, online advertising, selling and logistics expenses     (17,293 )     (10,844 )     (68,864 )     (44,553 )  
    Contribution margin   $ (261 )   $ 4,763     $ 1,744     $ 16,942    
    Gross Profit as a percentage of net revenue     51.0   %   63.4   %   49.3   %   62.1   %
    Contribution margin as a percentage of net revenue     (0.8 ) %   19.4   %   1.2   %   17.1   %

    Adjusted EBITDA

        Three Months Ended
    December 31,    		   Year Ended
    December 31,    		  
        2023   2024   2023   2024  
        (in thousands, except percentages)  
    Net loss   $ (7,707 )   $ (1,299 )   $ (74,564 )   $ (11,862 )  
    Add:                  
    Benefit for income taxes     (1,009 )     (113 )     (867 )     (47 )  
    Interest expense, net     345       209       1,421       949    
    Depreciation and amortization     469       410       3,886       1,689    
    EBITDA     (7,902 )     (793 )     (70,124 )     (9,271 )  
    Other expense, net     158       (215 )     260       61    
    Impairment loss on intangibles     283       —       39,728       —    
    Change in fair market value of warrant liabilities     (30 )     (194 )     (2,440 )     (924 )  
    Reserve on barter credits     323       —       323       —    
    Restructuring expense     —       —       1,633       565    
    Stock-based compensation expense     1,564       1,116       8,336       7,510    
    Adjusted EBITDA   $ (5,604 )   $ (86 )   $ (22,284 )   $ (2,059 )  
    Net loss as a percentage of net revenue     (23.5 ) %   (5.3 ) %   (52.3 ) %   (12.0 ) %
    Adjusted EBITDA as a percentage of net revenue     (17.1 ) %   (0.3 ) %   (15.6 ) %   (2.1 ) %

    Each of our products typically goes through the Launch phase and depending on its level of success is moved to one of the other phases as further described below:

    i.        Launch phase: During this phase, we leverage our technology to target opportunities identified using AIMEE (Artificial Intelligence Marketplace e-Commerce Engine) and other sources. This phase also includes revenue from new product variations and relaunches. During this period of time, due to the combination of discounts and investment in marketing, our net margin for a product could be as low as approximately negative 35%. Net margin is calculated by taking net revenue less the cost of goods sold, less fulfillment, online advertising and selling expenses. These primarily reflect the estimated variable costs related to the sale of a product.

    ii        Sustain phase: Our goal is for every product we launch to enter the sustain phase and become profitable, with a target of positive 15% net margin for most products, within approximately three months of launch on average. Net margin primarily reflects a combination of manual and automated adjustments in price and marketing spend.

    iii.        Liquidate phase: If a product does not enter the sustain phase or if the customer satisfaction of the product (i.e., ratings) is not satisfactory, then it will go to the liquidate phase and we will sell through the remaining inventory. Products can also be liquidated as part of inventory normalization especially when steep discounts are required.

    The following tables break out our fourth quarter and full year 2023 and 2024 results of operations by our product phases (in thousands):

      Three months ended December 31, 2023
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 25,175 $ 390 $ 7,189 $ — $ — $ 32,754
    Cost of goods sold   10,457   114   5,474   —   —   16,045
    Gross profit   14,718   276   1,715   —   —   16,709
    Operating expenses:            
    Sales and distribution expenses   12,973   263   4,056   2,567   348   20,207
    Research and development   —   —   —   528   280   808
    General and administrative   —   —   —   2,717   937   3,654
    Impairment loss on intangibles   —   —   —   283   —   283
                 
      Three months ended December 31, 2024
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 23,332 $ 347 $ 928 $ — $ — $ 24,607
    Cost of goods sold   8,536   143   321   —   —   9,000
    Gross profit   14,796   204   607   —   —   15,607
    Operating expenses:            
    Sales and distribution expenses   9,965   309   570   2,767   81   13,692
    General and administrative   —   —   —   2,492   1,035   3,527
                 
      Year-ended December 31, 2023
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 114,919 $ 959 $ 26,688 $ — $ — $ 142,566
    Cost of goods sold   53,139   455   18,687   —   —   72,281
    Gross profit   61,780   504   8,001   —   —   70,285
    Operating expenses:            
    Sales and distribution expenses   53,442   603   14,820   10,607   2,439   81,911
    Research and development   —   —   —   3,202   1,414   4,616
    General and administrative   —   —   —   15,737   4,483   20,220
    Impairment loss on intangibles   —   —   —   39,728   —   39,728
                 
      Year-ended December 31, 2024
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 92,542 $ 1,829 $ 4,674 $ — $ — $ 99,045
    Cost of goods sold   35,012   651   1,887   —   —   37,550
    Gross profit   57,530   1,178   2,787   —   —   61,495
    Operating expenses:            
    Sales and distribution expenses   40,353   1,087   3,113   9,643   1,783   55,979
    General and administrative   —   —   —   11,612   5,727   17,339

    The MIL Network –

  • MIL-OSI: Waldencast Reports Q4 2024 and Fiscal Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Q4 Net Revenue of $72.1 million, 29.4% Comparable Net Revenue Growth and $11.2 million of Adjusted EBITDA, doubling from Q4 2023

    FY 2024 Net Revenue of $273.9 million, 27.5% Comparable Net Revenue Growth and $40.3 million of Adjusted EBITDA

    Obagi Medical is the fastest growing professional skincare brand1 in the US in 2024

    Milk Makeup expands its distribution to Ulta Beauty

    Waldencast secures a new $205 million credit facility, replacing the current one, enhancing flexibility and extending debt maturity

    LONDON, March 18, 2025 (GLOBE NEWSWIRE) — Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), a global multi-brand beauty and wellness platform, today reported operating results for the three months ended December 31, 2024 (“Q4 2024”) and the year ended December 31, 2024 (the “Year Ended 2024”) on Form 6-K to the U.S. Securities and Exchange Commission (the “SEC”), which are also available on our investor relations site at http://ir.waldencast.com/.

    Michel Brousset, Waldencast Founder and CEO, said: “We closed a transformative year for the Group, achieving outstanding growth, expanding our brands’ communities, and making significant progress on our strategic priorities. Our business model is driven by a powerful flywheel effect of growth and profitability. This begins with the unique strength of our brands, which is amplified by our ability to enhance operational efficiency. As a result, we can effectively increase investments in sales and marketing to drive profitable growth. In 2024, we achieved a 27.5% increase in Comparable Net Revenue and a 65.1% rise in Adjusted EBITDA, demonstrating our proven ability to expand gross margins and optimize our cost base as we grow.”

    “Our proven ability to innovate significantly contributed to our brands’ growth. This year, Milk Makeup introduced several exciting new products, including the viral and award-winning Cooling Water Jelly Tint Blush + Lip Stain. Obagi Medical also launched a range of successful innovations aimed at both consumers and the professional skincare medical community, most notably the ELASTIderm Lift Up & Sculpt Facial Moisturizer and Elastiderm Advanced Filler Concentrate.”

    “Building on our momentum, we are excited to announce that Milk Makeup will launch in over 600 Ulta Beauty locations this spring, further highlighting the growing demand for our cult-favorite brand. Additionally, Obagi Medical expanded the Suzan Obagi MD® collection with groundbreaking new products, including the Super Antioxidant Serum and the Moisture Restore Hydration Replenishing Cream.”

    ____________________________________

    1 Among the top 10 brands. Kline & Company. (2024). 2024 Kline Professional Skincare: United States market analysis and opportunities.

    “Overall, we are excited about the year ahead and expect another year of significant milestones toward achieving our ambition to build a global best-in-class beauty and wellness multi-brand platform by creating, acquiring, accelerating, and scaling the next generation of high-growth, purpose-driven brands,” concluded Mr. Brousset.

    Q4 2024 Results Overview

    Please refer to the definitions and reconciliations set out further in this release with respect to certain adjusted non-GAAP measures discussed below which are included to provide an easier understanding of the underlying performance of the business, but should not be seen as a substitute for the U.S. GAAP numbers presented in this release.

    For the three months ended December 31, 2024 compared to the three months ended December 31, 2023:

    Net Revenue increased 30.8% to $72.1 million, a 29.4% increase in Comparable Net Revenue Growth that was attributable to Milk Makeup channel expansion, Obagi Medical accelerated growth in the Physician Dispense channel, and continued success in Obagi Medical e-commerce channels.

    Gross Profit was $49.4 million. Adjusted Gross Profit was $52.6 million, or 73.0% of net revenue, compared to $40.3 million in Q4 2023.

    Net Loss improved from $32.7 million in Q4 2023 to $22.6 million in Q4 2024, driven by operational growth and a reduction in non-recurring costs associated with the restatement and SEC investigation.

    Adjusted EBITDA doubled to $11.2 million (15.5% of net revenue), reflecting a 530 basis point expansion from Q4 2023. This growth was driven by strong top-line performance and operational leverage, as both Obagi Medical and Milk Makeup continued to scale and reinvest in business drivers while maintaining G&A discipline.

    Liquidity: The business maintained strong cash conversion in Q4 2024, driven by effective working capital management and minimal capital expenditure thanks to our asset-light business model. While the Company continues to incur significant non-recurring legal and advisory costs, the level of expenditures has been gradually reducing. As of December 31, 2024, the Company had $14.8 million in cash and cash equivalents and $154.2 million of Net Debt.

    New Credit Facility: Waldencast has entered into a new $205 million five-year credit facility, comprising a $175 million Term Loan and a $30 million RCF, that replaces its existing facility. This agreement supports the Company’s strategic priorities by enhancing financial flexibility and extending its debt maturity profile well ahead of the current facilities expiration in July 2026.

    Outstanding Shares: As of February 28, 2025, we had 122,720,911 ordinary shares outstanding, consisting of 112,054,383 Class A shares and 10,666,528 Class B shares. As of December 31, 2024, we had 122,692,968 ordinary shares outstanding, consisting of 112,026,440 Class A shares and 10,666,528 Class B shares.

    (In $ millions, except for percentages)   Q4 2024   % Sales   % Growth   % Comparable
    Net Revenue
    Growth    		     Q4 2023   % Sales
    Waldencast                          
    Net Revenue   72.1   100.0%   30.8%   29.4%     55.1   100.0%
    Adjusted Gross Profit   52.6   73.0%   30.7%         40.3   73.1%
    Adjusted EBITDA   11.2   15.5%   99.3%         5.6   10.2%
                               
    Obagi Medical                          
    Net Revenue   42.2   100.0%   30.0%   27.7%     32.5   100.0%
    Adjusted Gross Profit   33.2   78.7%   28.0%         26.0   80.0%
    Adjusted EBITDA   9.8   23.3%   23.7%         8.0   24.5%
                               
    Milk Makeup                          
    Net Revenue   29.9   100.0%   31.9%         22.6   100.0%
    Adjusted Gross Profit   19.4   64.9%   35.6%         14.3   63.1%
    Adjusted EBITDA   4.8   16.1%   248.0%         1.4   6.1%
     

    Fourth Quarter 2024 Brand Highlights:

    Obagi Medical:

    • Net Revenue reached $42.2 million, from $32.5 million in Q4 2023 with Comparable Net Revenue Growth of 27.7%.
    • Obagi Medical’s strong net revenue growth continued to be driven by increased brand awareness, stronger selling and marketing investments, and continued innovation. The brand continued expanding its international footprint and growing e-commerce sales through its direct website and the move to a first party model with its main e-commerce distributor, implemented in late 2023, with benefits tapering off by Q1 2025.
    • Notably, Obagi Medical was the fastest-growing professional skin care brand among the top 10 in the US in 20241. This historic achievement underscores the strength of our enhanced go-to-market strategy which successfully balances growth in the Physician Dispense channel, our historic stronghold, with the acceleration of our digital channels.
    • Adjusted Gross Margin of 78.7% contracted 130 basis points from Q4 2023 due to a higher weight of inventory liquidations.
    • Adjusted EBITDA was $9.8 million, an increase of 23.7% from Q4 2023 with an Adjusted EBITDA margin of 23.3%, a decline of 120 basis points from Q4 2023 reflecting the brands continued strategic investment in marketing to drive top-line growth and improved leverage of fixed costs.

    Milk Makeup:

    • Net Revenue reached $29.9 million, up 31.9% from $22.6 million in Q4 2023.
    • Milk Makeup’s Q4 2024 growth reflected the initial shipments to Ulta Beauty in support of the brand’s spring 2025 launch along with increased demand driven by our growing awareness, the continued delivery of sought-after innovation, and international expansion.
    • Adjusted Gross Margin increased by 180 basis points versus Q4 2023, primarily reflecting the positive impact of channel and product mix, as well as margin accretive innovation.
    • Adjusted EBITDA was $4.8 million an increase of $3.4 million from Adjusted EBITDA of $1.4 million in Q4 2023. Adjusted EBITDA Margin improved 1,000 basis points to 16.1% versus 6.1% in Q4 2023 as robust sales growth and gross margin expansion drove significant operational leverage despite increased brand investment.

    Year Ended 2024 Results Overview

    For the year ended December 31, 2024 compared to the year ended December 31, 2023:

    Net Revenue was $273.9 million, a 27.5% increase in Comparable Net Revenue Growth.

    Gross Profit was $191.7 million. Adjusted Gross Profit was $203.6 million, or 74.3% of net revenue, a margin improvement of 530 basis points versus 2023.

    Net Loss was $48.6 million, down from $106.0 million in the Year Ended 2023. The improvement was primarily driven by strong operational growth in the business, a fair value adjustment of the warrants, and reduced non-recurring costs.

    Adjusted EBITDA was $40.3 million, an Adjusted EBITDA Margin of 14.7%, compared to 11.2% in the Year Ended 2023.

    Fiscal 2025 Outlook:

    We expect to deliver mid-teens Net Revenue growth and further expansion of Adjusted EBITDA Margin into the mid-to-high teens.

    Net revenue growth is expected to accelerate throughout the year, starting with relatively flat growth in Q1 due to the anniversary of the highly successful Milk Makeup “Jellies” launch from Q1 2024, as well as inventory adjustment in some of our retail partners.

    Growth is expected to accelerate progressively in the following quarters, driven by our innovation pipeline and the continued expansion of our distribution footprint in the U.S. and internationally, including the launch of Milk Makeup at Ulta Beauty in March 2025.

    Year Ended 2024 Highlights

    (In $ millions, except for percentages)   Year
    Ended
    2024    		   % Sales   % Growth   % Comparable
    Net Revenue
    Growth    		     Year
    Ended
    2023    		   % Sales
    Waldencast                          
    Net Revenue   273.9   100.0%   25.5%   27.5%     218.1   100.0%
    Adjusted Gross Profit   203.6   74.3%   35.3%         150.4   69.0%
    Adjusted EBITDA   40.3   14.7%   65.1%         24.4   11.2%
                               
    Obagi Medical                          
    Net Revenue   149.3   100.0%   26.9%   30.7%     117.7   100.0%
    Adjusted Gross Profit   118.6   79.4%   41.6%         83.7   71.2%
    Adjusted EBITDA   30.5   20.4%   46.4%         20.8   17.7%
                               
    Milk Makeup                          
    Net Revenue   124.6   100.0%   24.0%         100.5   100.0%
    Adjusted Gross Profit   85.0   68.2%   27.4%         66.7   66.4%
    Adjusted EBITDA   29.1   23.3%   58.0%         18.4   18.3%
     

    Conference Call and Webcast Information

    Waldencast will host a conference call to discuss its year-end and fourth quarter results on Wednesday, March 19, 2025, at 8:30 AM EDT for the period ended December 31, 2024. Those interested in participating in the conference call are invited to dial (877) 704-4453. International callers may dial (201) 389-0920. A live webcast of the conference call will include a slide presentation and will be available online at https://ir.waldencast.com/. A replay of the webcast will remain available on the website until our next conference call. The information accessible on, or through, our website is not incorporated by reference into this release.

    Non-GAAP Financial Measures

    In addition to the financial measures presented in this release in accordance with U.S. GAAP, Waldencast separately reports financial results on the basis of the measures set out and defined below which are non-GAAP financial measures. Waldencast believes the non-GAAP measures used in this release provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. Waldencast believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures also provide perspective on how Waldencast’s management evaluates and monitors the performance of the business.

    There are limitations to non-GAAP financial measures because they exclude charges and credits that are required to be included in GAAP financial presentation. The items excluded from GAAP financial measures such as net income/loss to arrive at non-GAAP financial measures are significant components for understanding and assessing our financial performance. Non-GAAP financial measures should be considered together with, and not alternatives to, financial measures prepared in accordance with GAAP.

    Please refer to definitions set out in the release and the tables included in this release for a reconciliation of these metrics to the most directly comparable GAAP financial measures.

    Comparable Net Revenue is defined as Net Revenue excluding sales related to the former Obagi Medical China business (the “Obagi Medical China Business”), which was not acquired by Waldencast at the time of the business combination with Obagi Medical and Milk Makeup (the “Business Combination”) as was presented in previous earnings releases. The sales to the Obagi Medical China Business have a below market sales price for a defined period of time after the acquisition of Obagi Medical pursuant to the Business Combination. As a result of the Business Combination, a below market contract liability was recognized and is amortized based on sales. This adjustment is shown in the Adjusted EBITDA and Adjusted Gross Profit reconciliations. Management of the Company believes that this non-GAAP measure provides perspective on how Waldencast’s management evaluates and monitors the performance of the business. See reconciliation to U.S. GAAP Net Revenue in the Appendix.

    Comparable Net Revenue Growth is defined as the growth in Comparable Net Revenue period over period expressed as a percentage.

    Adjusted Gross Profit is defined as GAAP gross profit excluding the impact of inventory fair value adjustments, amortization of the supply agreement and formulation intangible assets, discontinued product write-off, and the amortization of the fair value of the related party liability from the Obagi Medical China Business. The Adjusted Gross Profit reconciliation by Segment for each period is included in the Appendix.

    Adjusted Gross Margin is defined as Adjusted Gross Profit divided by GAAP Net Revenue.

    Adjusted EBITDA is defined as GAAP net income (loss) before interest income or expense, income tax (benefit) expense, depreciation and amortization, and further adjusted for the items as described in the reconciliation below. We believe this information will be useful for investors to facilitate comparisons of our operating performance and better identify trends in our business. Adjusted EBITDA excludes certain expenses that are required to be presented in accordance with GAAP because management believes they are non-core to our regular business. These include non-cash expenses, such as depreciation and amortization, stock-based compensation, inventory fair value adjustments, the amortization and release of fair value of the related party liability to the Obagi Medical China Business, change in fair value of financial instruments, loss on impairment of goodwill and leases, and foreign currency translation loss (gain). In addition, adjustments include expenses that are not related to our underlying business performance including (1) legal, advisory and consultant fees related to the financial restatement of previously issued financial statements and associated regulatory investigation, and the Business Combination; (2) costs to recover and the value of the inventory recovered from the acquisition of the SA distributor, and the associated discontinued products; and (3) other non-recurring costs, primarily legal settlement costs and restructuring costs. The Adjusted EBITDA by Segment for each period is included in the Appendix.

    Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of net revenue. The Adjusted EBITDA Margin reconciliation by Segment for each period is included in the Appendix.

    (In thousands, except for percentages)   Three
    Months
    Ended
    December 31,
    2024    		   Three
    Months
    Ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (22,597 )   $ (32,731 )   $ (48,648 )   $ (105,968 )
    Adjusted For:                
    Depreciation and amortization     15,013       14,863       60,015       60,498  
    Interest expense, net     4,088       4,276       17,155       18,888  
    Income tax expense (benefit)     4,113       (976 )     110       (6,975 )
    Stock-based compensation expense     2,993       1,677       9,392       9,235  
    Legal and advisory non-recurring costs(1)     3,029       12,949       21,493       32,783  
    Change in fair value of warrants and interest rate collar     443       2,473       (23,679 )     10,443  
    Amortization and release of related party liability(2)     (4,169 )     —       (5,678 )     (4,058 )
    Loss on impairment of goodwill     5,031       —       5,031       —  
    Other costs(3)     3,241       3,083       5,093       9,549  
    Adjusted EBITDA   $ 11,185     $ 5,613     $ 40,284     $ 24,395  
    Net Revenue   $ 72,083     $ 55,117     $ 273,868     $ 218,138  
    Net Loss % of Net Revenue     (31.3 )%     (59.4 )%     (17.8 )%     (48.6 )%
    Adjusted EBITDA Margin     15.5 %     10.2 %     14.7 %     11.2 %
     
    (1) Includes mainly legal, advisory and consultant fees related to the financial restatement 2020-2022 periods and associated regulatory investigation, and the Business Combination.
    (2) Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
    (3) Other costs include legal settlements, foreign currency translation losses, product discontinuation costs related to advanced purchases for the SA Distributor, the write-down and subsequent recovery of inventory from the SA Distributor, restructuring costs, amortization of the fair value step-up as a result of the business combination, lease impairments, restructuring and contract termination fees.
       

    Net Debt Position is defined as the principal outstanding for the 2022 Term Loan and 2022 Revolving Credit Facility minus the cash and cash equivalents as of December 31, 2024.

    (In thousands)   Reconciliation of
    Net Carrying
    Amount of debt to
    Net Debt
    Current portion of long-term debt   $ 29,479  
    Long-term debt     137,137  
    Net carrying amount of debt     166,616  
    Adjustments:    
    Add: Unamortized debt issuance costs     2,339  
    Less: Cash & cash equivalents     (14,802 )
    Net Debt   $ 154,153  
             

    About Waldencast plc

    Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the Business Combination. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com.

    Obagi Medical is an industry-leading, advanced skin care line rooted in research and skin biology, refined with a legacy of over 35 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Medical products are designed to address the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi Medical is available on the brand’s website at www.obagi.com.

    Founded in 2016, Milk Makeup quickly became a cult-favorite among the beauty community for its values of self-expression and inclusion, captured by its signature “Live Your Look”, its innovative formulas, and clean ingredients. The brand creates vegan, cruelty-free, clean formulas and has its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup offers over 250 products through its U.S. website www.MilkMakeup.com, and retail partners including Sephora globally, Ulta Beauty in the U.S., Lyko in Scandinavia, Space NK and Boots in the United Kingdom and many more.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about: Waldencast’s outlook and guidance for 2025; our ability to deliver financial results in line with expectations; expectations regarding sales, earnings or other future financial performance and liquidity or other performance measures; our long-term strategy and future operations or operating results; expectations with respect to our industry and the markets in which it operates; future product introductions; developments relating to the ongoing investigation and legal proceedings; and any assumptions underlying any of the foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.

    These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including, among others: (i) the impact of the material weaknesses in our internal control over financial reporting, including associated investigations, our efforts to remediate such material weakness and the timing of remediation and resolution of associated investigations; (ii) our ability to recognize the anticipated benefits from any acquired business, including the Business Combination; (iii) our ability to successfully implement our management’s plans and strategies; (iv) the overall economic and market conditions, sales forecasts and other information about our possible or assumed future results of operations or our performance; (v) the general impact of geopolitical events, including the impact of current wars, conflicts or other hostilities; (vi) the potential for delisting, legal proceedings or existing or new government investigation or enforcement actions, including those relating to the restatement or the subject of the Audit Committee of our Board of Directors’ review further described in our annual report filed on Form 20-F for the year ended December 31, 2022, (vii) our ability to manage expenses, our liquidity and our investments in working capital; (viii) any failure to obtain governmental and regulatory approvals related to our business and products; (ix) the impact of any international trade or foreign exchange restrictions, increased tariffs, foreign currency exchange fluctuations; (x) our ability to raise additional capital or complete desired acquisitions; (xi) our ability to comply with financial covenants imposed by the new 2025 credit agreement we entered into referenced in the section entitled “New Credit Facility” above and the impact of debt service obligations and restricted debt covenants; (xii) volatility of Waldencast’s securities due to a variety of factors, including Waldencast’s inability to implement its business plans or meet or exceed its financial projections and changes; (xiii) the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; (xiv) the ability of Waldencast to implement its strategic initiatives and continue to innovate Obagi Medical’s and Milk Makeup’s existing products and anticipate and respond to market trends and changes in consumer preferences, (xv) any shifts in the preferences of consumers as to where and how they shop; (xvi) the impact of any unfavorable publicity on our business or products; (xvii) changes in future exchange or interest rates or credit ratings; (xviii) changes in, and uncertainty with respect to, laws, regulations, and policies, including as a result of the change in the U.S. administration; and (xix) social, political and economic conditions. These and other risks, assumptions and uncertainties are more fully described in the Risk Factors section of our 2023 20-F (File No. 01-40207), filed with the SEC on April 30, 2024, and in our other documents that we file or furnish with the SEC, which you are encouraged to read.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made. Waldencast expressly disclaims any current intention, and assumes no duty, to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

    Contacts:

    Investors
    ICR
    Allison Malkin
    waldencastir@icrinc.com

    Media
    ICR
    Brittney Fraser/Alecia Pulman
    waldencast@icrinc.com

    Appendix

    Comparable Net Revenue Growth

        Group   Obagi Medical
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 72,083     $ 55,117   $ 273,868     $ 218,138   $ 42,211     $ 32,470   $ 149,266     $ 117,651
    Obagi Medical China Business     735       —     2,804       5,619     735       —     2,804       5,619
    Comparable Net Revenue   $ 71,348     $ 55,117   $ 271,064     $ 212,519   $ 41,476     $ 32,470   $ 146,462     $ 112,032
    Comparable Growth     29.4 %         27.5 %         27.7 %         30.7 %    
                                                     

    Adjusted Gross Profit

        Group
    (In thousands, except for percentages)   Three months
    ended
    December 31,
    2024    		   Three months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 72,083     $ 55,117     $ 273,868     $ 218,138  
    Gross Profit     49,450       37,476       191,744       141,577  
    Gross Profit Margin     68.6 %     68.0 %     70.0 %     64.9 %
    Gross Margin Adjustments:                
    Amortization of the fair value of the related party liability(1)     (750 )     —       (2,260 )     (4,058 )
    Amortization of the inventory fair value adjustment(2)     —       —       —       1,691  
    Discontinued product write-off(3)     1,139       —       2,864       —  
    Amortization impact of intangible assets(4)     2,801       2,801       11,205       11,205  
    Adjusted Gross Profit   $ 52,639     $ 40,277     $ 203,553     $ 150,415  
    Adjusted Gross Margin %     73.0 %     73.1 %     74.3 %     69.0 %
                                     

     

    (1) Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
    (2) Relates to the amortization of the inventory fair value step-up as a result of the Business Combination.
    (3) Relates to the advance purchase of specific products for the market in Vietnam sold through the SA Distributor that became obsolete when the distribution contract was terminated.
    (4) The Supply Agreement and Formulations intangible assets are amortized to cost of goods sold.
       
        Obagi Medical   Milk Makeup
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 42,211     $ 32,470     $ 149,266     $ 117,651     $ 29,872     $ 22,647     $ 124,602     $ 100,487  
    Gross Profit     30,050       23,175       106,760       76,582       19,395       14,301       84,984       64,995  
    Gross Profit Margin     71.2 %     71.4 %     71.5 %     65.1 %     64.9 %     63.1 %     68.2 %     64.7 %
    Gross Margin Adjustments:                                
    Amortization of the fair value of the related party liability     (750 )     —       (2,260 )     (4,058 )     —       —       —       —  
    Amortization of the inventory fair value adjustment     —       —       —       —       —       —       —       1,691  
    Discontinued product write-off     1,139       —       2,864       —       —       —       —       —  
    Amortization impact of intangible assets     2,801       2,801       11,205       11,205       —       —       —       —  
    Adjusted Gross Profit   $ 33,239     $ 25,976     $ 118,569     $ 83,729     $ 19,395     $ 14,301     $ 84,984     $ 66,686  
    Adjusted Gross Margin %     78.7 %     80.0 %     79.4 %     71.2 %     64.9 %     63.1 %     68.2 %     66.4 %
                                                                     

    Adjusted EBITDA Margin by Segment

        Obagi Medical   Milk Makeup
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (12,114 )   $ (8,305 )   $ (31,524 )   $ (32,214 )   $ 230     $ (3,959 )   $ 8,803     $ (5,655 )
    Adjusted For:                                
    Depreciation and amortization     10,397       10,425       41,591       41,984       4,616       4,457       18,424       18,514  
    Interest expense, net     3,068       3,341       12,391       12,644       (3 )     4       (1 )     590  
    Income tax expense (benefit)     3,933       (990 )     (141 )     (6,997 )     25       9       32       10  
    Stock-based compensation expense     465       (317 )     (328 )     726       (338 )     444       1,167       2,352  
    Legal and advisory non-recurring costs     1,061       1,119       5,054       1,702       —       —       —       27  
    Amortization and release of related party liability     (4,169 )     —       (5,678 )     (4,058 )     —       —       —       —  
    Loss on impairment of goodwill     5,031       —       5,031       —       —       —       —       —  
    Other costs     2,166       2,682       4,120       7,027       285       428       639       2,566  
    Adjusted EBITDA   $ 9,838     $ 7,956     $ 30,516     $ 20,814     $ 4,814     $ 1,383     $ 29,064     $ 18,404  
    Net Revenue   $ 42,211     $ 32,470     $ 149,266     $ 117,651     $ 29,872     $ 22,647     $ 124,602     $ 100,487  
    Net Loss % of Net Revenue     (28.7 )%     (25.6 )%     (21.1 )%     (27.4 )%     0.8 %     (17.5 )%     7.1 %     (5.6 )%
    Adjusted EBITDA Margin     23.3 %     24.5 %     20.4 %     17.7 %     16.1 %     6.1 %     23.3 %     18.3 %
                                                                     
        Central costs
    (In thousands, except for percentages)   Three months
    ended
    December 31,
    2024    		   Three months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (10,714 )   $ (20,467 )   $ (25,927 )   $ (68,099 )
    Adjusted For:                
    Depreciation and amortization     —       (20 )     —       —  
    Interest expense, net     1,024       931       4,765       5,654  
    Income tax expense     155       4       219       12  
    Stock-based compensation expense     2,866       1,549       8,553       6,157  
    Legal and advisory non-recurring costs     1,968       11,830       16,439       31,054  
    Change in fair value of warrants and interest rate collar     443       2,473       (23,679 )     10,443  
    Other costs     789       (26 )     334       (44 )
    Adjusted EBITDA   $ (3,468 )   $ (3,727 )   $ (19,296 )   $ (14,823 )
    Net Revenue   $ —     $ —     $ —     $ —  
    Net Loss % of Net Revenue     N/A       N/A       N/A       N/A  
    Adjusted EBITDA Margin     N/A       N/A       N/A       N/A  

    The MIL Network –

  • MIL-OSI Asia-Pac: INITIATIVES UNDERTAKEN TO PROMOTE ORGANIC FARMING

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:08PM by PIB Delhi

    Government is promoting organic farming through the schemes of Paramparagat Krishi Vikas Yojana (PKVY) in all the States/UTs and Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) scheme is being implemented. Both the schemes stress on end-to-end support to farmers engaged in organic farming i.e. from production to post-harvest management training and capacity building. The main focus of the PKVY and MOVCDNER schemes is to promote natural resource based integrated and climate resilient sustainable farming systems that ensure maintenance and increase of soil fertility, natural  resource conservation, on-farm nutrient recycling and minimize dependence of farmers on external inputs.

    So far, 59.74 lakh ha area has been covered under organic farming since 2015-16. The State wise details of area covered under organic farming National Programme for Organic Production (NPOP) (including MOVCDNER) + Participatory Guarantee System (PGS) under PKVY till 2023-2024 is given at Annexure-I.

    Under PKVY scheme, States/UTs are provided financial assistance of Rs. 31,500/ha in total in 3 years in the organic clusters out of which, Rs. 15,000/ha is provided directly to farmers through DBT for on-farm and off-farm organic inputs, Rs. 4,500/ha for marketing, packaging, branding, value addition etc., Rs. 3,000/ha for certification and residue analysis and Rs. 9,000/ha for training and capacity building. Under MOVCDNER scheme, assistance of Rs. 46,500/ha in total in 3 years is provided for creation of Farmers Producer Organizations, support to farmers for organic inputs etc. Out of this, assistance @ Rs. 32,500/ ha is provided to farmers for off -farm /on –farm organic inputs including Rs. 15,000 as Direct Benefit Transfer to the farmers. Farmers can avail assistance for maximum 2ha area under both the schemes.

    Two types of organic certifications systems have been developed to ensure quality control of organic produce as given below:

    • Third Party Certification by Accredited Certification Agency under NPOP scheme under Ministry of Commerce and Industry for development of export market.
    • PGS-India under Ministry of Agriculture and farmers Welfare involves stakeholders (including farmers/ producers) in decision making about the operation of the PGS-India certification by assessing, inspecting and verifying the production practices of each other.

    Under PKVY scheme assistance @ Rs 4,500/ha is provided in total in 3 years to facilitate value addition, marketing and publicity. Assistance is provided for certification & training and handholding & capacity building @ Rs 3.000/-ha for 3 years and Rs 7,500/- ha respectively for 3 years under PKVY for farmers. Whereas under MOVCDNER scheme assistance is provided @ Rs10,000/ -ha in total in 3 years for training, capacity building & certification.

    To ensure market availability States organize seminars, conferences, workshops, buyer-seller meetings, exhibitions, trade fairs, and organic festivals either within their own region or in key markets of other states.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    Annexure – I

    State wise details of total cumulative area covered under organic farming NPOP (including MOVCDNER) + PGS under PKVY till 2023-2024

    Area in ha

    S. NO.

    State Name

    NPOP

    PGS under PKVY

    1

    Andhra Pradesh

    63,678.69

    3,60,805

    2

    Bihar

    29,062.13

    31,783

    3

    Chhattisgarh

    15,144.13

    1,01,279

    4

    Goa

    12,287.40

    15334

    5

    Gujarat

    6,80,819.99

    10000

    6

    Haryana

    2,925.33

    –

    7

    Himachal Pradesh

    9,334.28

    18748

    8

    Jharkhand

    54,408.20

    25300

    9

    Kerala

    44,263.91

    94480

    10

    Karnataka

    71,085.99

    20900

    11

    Madhya Pradesh

    11,48,236.07

    74960

    12

    Maharashtra

    10,01,080.32

    66756

    13

    Odisha

    1,81,022.28

    45800

    14

    Punjab

    11,089.41

    6981

    15

    Tamil Nadu

    42,758.27

    32940

    16

    Telangana

    84,865.16

    8100

    17

    Rajasthan

    5,80,092.22

    148500

    18

    Uttar Pradesh

    66,391.34

    171185

    19

    Uttarakhand

    1,01,820.39

    140740

    20

    West Bengal

    8,117.80

    21400

    21

    Assam

    27,079.40

    4400

    22

    Arunachal Pradesh

    16,537.53

    380

    23

    Meghalaya

    29,703.30

    900

    24

    Manipur

    32,584.50

    600

    25

    Mizoram

    14,238.30

    780

    26

    Nagaland

    16,221.56

    480

    27

    Sikkim

    75,729.78

    63000

    28

    Tripura

    20,481.36

    1000

    29

    Jammu & Kashmir

    34,746.75

    5160

    30

    Pondicherry

    21.51

    –

    31

    Delhi

    9.60

    –

    32

    Ladakh

    –

    10480

    33

    Daman & Diew

    –

    642

    34

    Dadar & Nagar Haveli

    –

    500

    35

    Andaman & Nicobar

    –

    14491

    Total

    44,75,836.90

    14,98,804

    Grand Total (NPOP + PGS)

    59,74,640.90

    Source: APEDA + PGS

    *******

    (Release ID: 2112405) Visitor Counter : 56

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India and New Zealand working on a comprehensive, mutually beneficial Free Trade Agreement: Shri Piyush Goyal

    Source: Government of India

    India and New Zealand working on a comprehensive, mutually beneficial Free Trade Agreement: Shri Piyush Goyal

    New Zealand Prime Minister and Commerce and Industry Minister Piyush Goyal address CEOs of India and New Zealand

    I feel incredibly optimistic about the future of both the countries and India for us is a game changer:The Right Honourable Christopher Luxon, PM of New Zealand

    Posted On: 18 MAR 2025 5:41PM by PIB Delhi

    India and New Zealand are working to finalize a comprehensive and mutually beneficial Free Trade Agreement. Union Minister of Commerce & Industry, Shri Piyush Goyal, said this while addressing the CEOs of India and New Zealand in New Delhi today. The two countries had announced the launch of negotiations for an FTA earlier this week. The event today was attended by the Right Honourable Christopher Luxon, Prime Minister of New Zealand, Hon’ble Mr. Todd McClay, New Zealand’s Minister for Trade and Investment, Agriculture and Forestry, business leaders and senior officers of the two countries.

    Addressing the business leaders, Shri Goyal emphasized the immense potential for collaboration between the two countries. He articulated an ambitious vision for the India-New Zealand partnership, targeting 10x growth in bilateral trade over the next decade.

    Prime Minister of New Zealand, The Right Honourable Christopher Luxon, while addressing the forum, stated that businesses play a critical role in both economies and in strengthening bilateral relations. The Prime Minister further emphasized the need to explore new frontiers and sectors where New Zealand holds a competitive advantage. “I feel incredibly optimistic about the future of both India and New Zealand. India for us is a game changer. As a smaller country in the world, India is a really consequential relationship for us. We all recognize that there is a lot more that these two countries should be doing together. When we look at the trading relationship today at $3 billion, there’s a huge opportunity for us here,” he added.

    The Commerce Minister called on business leaders from both countries to contribute towards achieving this goal. “There are hardly any areas where we compete with each other, and the few areas of sensitivity can be navigated with mutual respect. Given our different levels of development, there are limitless possibilities for cooperation in agri-tech, dairy, food processing, pharmaceuticals, renewable energy, critical minerals, forestry, horticulture, tourism, and sports,” he said.

    Discussing global challenges, Shri Goyal emphasized the importance of trusted partnerships. “The world is going through a lot of problems. A defining partnership between our two nations can serve as a model for how trusted partners work together. It’s not about the size of an economy; it’s about collaboration and shared values,” he said. He noted that India’s economy, currently at $4 trillion, is poised to grow to $30-35 trillion in the next 22-25 years, presenting immense opportunities for collaboration.

    Shri Goyal highlighted the role of tourism in fostering stronger relations between India and New Zealand. He praised the Prime Minister of New Zealand for his commitment to enhancing ties between the two nations and noted that their partnership could create significant economic opportunities. “Together, we can make a significant difference to our economies. Both countries will emerge as winners through this partnership,” he stated.

    Drawing a parallel with cricket, Shri Goyal described the partnership as “aggressive yet graceful, passionate but well-composed, and creating a strong innings.” He expressed confidence that India and New Zealand are ready to step up for a brighter future.

    The Minister underscored the importance of working with democracies where the rule of law prevails and businesses get fair opportunities. He mentioned the strong people-to-people linkages between India and New Zealand, citing Papatoetoe in Auckland as “Little India.” He expressed optimism about Free Trade Agreement (FTA) negotiations, stating that they would be vibrant and add more depth to the relationship.

    He also stressed the importance of education and research in bringing people closer, highlighting the potential of New Zealand’s innovation to reach the world through India. He suggested that manufacturing in India for global markets at competitive prices could take the partnership to greater heights.

    Speaking on connectivity, Shri Goyal reaffirmed India’s commitment to strengthening financial and digital linkages, as well as facilitating swift mobility of manpower and technical talent. He noted that India produces the highest number of STEM graduates annually, with 43% of them being women, showcasing the diversity and strength of India’s workforce.

    “Our two countries have decisive leaders, and India’s young, aspirational population of 1.4 billion, combined with New Zealand’s innovative spirit, will create a potent partnership that the world will look up to. Walking into the future while respecting the past—this perfectly captures the essence of our collaboration,” he concluded.

    ***

     

    Abhishek Dayal/ Abijith Narayanan/ Ishita Biswas

    (Release ID: 2112372) Visitor Counter : 61

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: H.R. 1709, Understanding Cybersecurity of Mobile Networks Act

    Source: US Congressional Budget Office

    H.R. 1709 would require the Department of Commerce to assess the effectiveness of cybersecurity practices employed by providers of mobile communications services and to report to the Congress on cybersecurity vulnerabilities of mobile networks and devices.

    Using information about the cost of similar requirements, CBO estimates that implementing the bill would cost less than $500,000. Such spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Aldo Prosperi. The estimate was reviewed by Christina Hawley Anthony, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: Welch Convenes International Business Leaders near Northern Border to Discuss Impacts of Trump’s Trade War 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    Welch: “I’m very disturbed about what is happening…how it’s affecting our families here in Vermont, how it’s affecting our businesses here in Vermont, and how it’s affecting the mutual cooperation that we had the blessing of enjoying for generations—between us and Canada. I am opposed to tariffs against our Canadian allies.”
    NEWPORT, VT — Today, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, convened Vermont and Canadian business leaders for a roundtable in Newport, Vermont —near the U.S.-Canada border—to discuss President Trump’s Trade War and how the Trump Administration’s reckless tariffs are hurting workers, families, and farmers.
    Senator Welch’s remarks from the beginning of the roundtable are included in-full below:  
    “We in Vermont really value both our friendship with Canadians, and our economic partnerships with Canada. I believe what’s happening here with the rhetoric from the Trump Administration and from these tariffs is very destructive—for you and for us.  
    “I don’t want to be a part of it. I want to be a part of doing everything we can to maintain the very cordial, friendly, economically mutually-beneficial relationships that we have. I can understand an appropriate place for a tariff, and Canada can make its own decisions about where it would be appropriate for you to have a tariff. I cannot think of why we would be having a tariff or trade war with our best neighbor. Your environmental standards — your labor standards — match or exceed ours, and that’s really important to you and it’s important to us.  
    “What I’m seeing with the tariffs is that they’re being imposed in a very arbitrary way. Not to mention that they’re on again, they’re off again.  
    “Every time I speak to any anybody in business on our side (and it’s really nice that we’re going to hear from the Canadian side of the border) one of the things that’s really essential is stability. No business, and frankly no family, can deal with, ‘yes, we’re on no, we’re off.’ Nobody can do that. And it is not, in my view, good for international relationships. It’s not good for business relationships. And it’s not even good for family, where there’s constant instability. You don’t know what the rules are—they keep changing.  
    “I’m very disturbed about what is happening from [the Trump] Administration and I’m disturbed from the perspective of how it’s affecting our families here in Vermont, how it’s affecting our businesses here in Vermont and how it’s affecting the mutual cooperation that we had the blessing of enjoying for generations, between us and Canada. I am opposed to tariffs against our Canadian allies. 
    “That’s just to set the stage of where I’m coming from, and it’s why I am so grateful that we have this joint meeting where we can talk about the real problems that are caused as a result of these tariffs. And mobilize as much support as we can to renewing that friendship, that business relationship, that economic relationship that we’ve had. So, thank you all for coming and [the Hon. Marie-Claude] Bibeau, I’m so, so delighted that you’re here. I want to turn it over to you after I expressed my gratitude for all the work you’ve done and your willingness to be here deep in the south reaches of Newport, Vermont.”
    Photos of the event are included below:
    Senator Welch was joined by the Hon. Marie-Claude Bibeau, Member of Parliament for Compton-Stanstead, and Vermont and Canadian business owners. Attendees included representatives from Newport Downtown Development; Built By Newport; Columbia Forest Products; Kingdom Brewing; Morrison Custom Feeds, Inc.; Kingdom Trails Association; Hill Farmstead Brewery; Vermont Brewers Association; Vermont Agency of Commerce and Community Development; Northeastern Vermont Development Association; Caledonia Spirits; Vermont Maple Sugar Makers Association; Judd’s Wayeeses Farm; Khrome Product-Transport; Weidmann Electrical Technology; TRACK, Inc.; Larue; Motrec International; UTV Internationale; Ville de Sherbrooke; and the Sherbrooke Chamber of Commerce.  
    Nearly half of all U.S. imports—more than $1.3 trillion—come from Canada, China, and Mexico. Canada is the largest trading partner for 34 U.S. states, including Vermont. In 2024 alone, trade with Canada accounted for 35% of Vermont exports, 67% of our imports, and 56% of its total trade. One in four businesses in Vermont relies on trade with Canada.  
    In many cases, Vermont manufacturers buy imports from Canada to manufacture into products. Tariffs on Canada threaten business closures and job layoffs, higher homebuilding costs, increased costs of grain for farmers, and more expensive equipment for maple producers—among other costs that will get passed on to working families. 
    Senator Welch has blasted Trump’s tariffs and trade war, and shared stories from constituents about how President Trump’s economic policies have impacted their businesses, farms, and communities. This event follows a roundtable Senator Welch held in St. Albans in January and virtually in February where he heard from businesses and state and local leaders about the President’s threats to reignite a trade war. 
    Vermonters are invited to share how these tariffs will impact their lives and businesses by sharing their story on Senator Welch’s website. 

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom continues supporting Los Angeles business, fire recovery workers with funding, educational workplace safety outreach

    Source: US State of California 2

    Mar 18, 2025

    What you need to know: Governor Newsom and Los Angeles community-based organizations (CBOs) today announced $25 million to advance educational outreach to workers and businesses about vital health, safety, and workplace protections.

    LOS ANGELES — As rebuilding in the Los Angeles area continues at record speed, Governor Gavin Newsom announced the state is awarding $25 million and strengthening partnerships with local communities to ensure fire recovery workers and businesses have access to additional workplace safety information through a California Workplace Outreach Project (CWOP).

    “We’re helping ensure that brave fire recovery workers and businesses have vital workplace safety information.”

    Governor Gavin Newsom

    California Labor & Workforce Development Agency (LWDA), Department of Industrial Relations (DIR), California Division of Occupational Safety and Health (Cal/OSHA), California State Labor Commissioner, and representatives from Los Angeles Community Based Organizations (CBOs) will issue $25 million in funding for the CWOP to support 89 community-based organizations across the state.

    CWOP is a DIR partnership with CBOs to provide critical information about workplace protections, labor rights, and health and safety measures for workers in high-risk industries. The outreach work will help notify workers and businesses about vital health and safety protections, hazard prevention, and other worker protections for people and businesses helping Los Angeles cleanup and rebuild.

    Today’s actions build on multiple efforts across the state to support workers and businesses who are helping the Los Angeles community recover and rebuild.

    And California has worked with local communities and federal and local providers to help businesses and workers in many ways, including:

    • Supporting workers and employers: The Employment Development Department (EDD) supports workers with unemployment, disability insurance, or Paid Family Leave benefits, including Disaster Unemployment Assistance (DUA) for those who do not qualify for regular unemployment benefits. The Governor took action to extend payroll tax deadlines and reporting requirements—a move that has helped thousands of businesses in the Los Angeles area. Employers can request a 60-day extension on payroll reports and taxes, or participate in the Work Sharing program.
    • On-the-ground advisors for small businesses: Over 200 business advisors from Small Business Support Centers help answer questions about economic recovery, loan application processes, insurance, employee and workforce support, and business planning. 
    • Providing resources for recovery: CalOSBA launched a Resource Guide for small businesses impacted by the wildfires through its Outsmart Disaster website.
    • Financial assistance for businesses: The California Infrastructure and Economic Development Bank (IBank) loan programs help businesses from one to 750 employees affected by the LA wildfires. Disaster Relief Loan Guarantee Program (DRLGP) issues loan guarantees up to 95%.  
    • Expediting contractor licensing: The Contractor State Licensing Board (CSLB) is rapidly processing licensing applications to continue expediting efforts to rebuild homes and businesses. 
    • Helping fire survivors rebuild safely: CSLB is also partnering with state agencies to promote California-licensed contractors for repairs or to rebuild their homes or businesses. CSLB’s Disaster Hotline 1-800-962-1125 and online Disaster Help Center also provided valuable support to survivors.
    • Protecting against unlicensed contractors: Investigation teams notified the public that it is a felony to contract without a license in a California disaster area, urged consumers to always check licenses before hiring a contractor, and recommended reporting any unlicensed activity immediately by filing complaints at www2.cslb.ca.gov.
    • Helping licensees rebuild their businesses: The Board of Barbering and Cosmetology, the Board of Accountancy, and other DCA boards rescheduled licensing examinations at no charge and are issuing duplicate licenses for original licenses lost in the fires.
    • Governor Newsom also issued multiple executive orders to help speed rebuilding and recovery, create more temporary housing, and protect survivors.

    Press Releases, Recent News

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    Mar 17, 2025

    News SACRAMENTO – Governor Gavin Newsom issued the following statement regarding the death of San Bernardino County Sheriff’s Deputy Hector Cuevas Jr.:“Jennifer and I are deeply saddened by the tragic loss of Deputy Cuevas. Our heartfelt condolences go out to his…

    Mar 17, 2025

    News Lo que necesita saber: California tiene un nuevo compañero en Sonora, México para impulsar el desarrollo de recursos energéticos renovables, la resiliencia de la cadena de suministro y el transporte limpio. To read this release in English, click here. Sacramento,…

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Consumer awareness is key to a sustainable and secure digital experience: Shri Pralhad Joshi

    Source: Government of India

    Consumer awareness is key to a sustainable and secure digital experience: Shri Pralhad Joshi

    Department of Consumer Affairs and Meta Strengthen Partnership to Enhance Consumer Protection

    Posted On: 18 MAR 2025 7:24PM by PIB Delhi

    Union Minister for Ministry of Consumer Affairs, Food and Public Distribution and Ministry for New and Renewable Energy, Shri Pralhad Joshi along with Mr. Joel Kaplan, Chief Global Affairs Officer, Meta announced a new collaboration ‘Be an Empowered Consumer’ to empower consumers through digital literacy initiatives under the government’s flagship consumer awareness campaign ‘Jago Grahak Jago’.

    Speaking at the launch of the partnership, Shri Joshi said, “We are pleased to partner with Meta on this crucial initiative to equip citizens with the knowledge and tools that will enable them to navigate the digital landscape and protect themselves online.”

    “Consumer awareness is key to a sustainable and secure digital experience and the campaign will strengthen consumer protection measures and reinforce our commitment to empowering Indian consumers,” he added.

    Shri Joshi emphasised that with the collaboration, the efforts of Department of Consumer Affairs, Government of India, towards consumer protection will reach to the remote areas of the country.

    The joint campaign ‘Be an Empowered Consumer’ seeks to educate Indians on recognizing online threats and promoting healthy online habits, including the use of strong passwords, verification of online information, and reporting suspicious activity. This was discussed in a meeting before the launch.  

    During the meeting, the Union Minister was also apprised about a joint project commissioned with IIT Bombay by the chair established by the Department at the National Law School of India University Bangalore, and supported by Meta.  The project explores the feasibility of leveraging Llama 2, Meta’s openly available large language model, in creating a citizen-centric chatbot: GrahakNyay. The chatbot will enhance access to consumer rights information, a robust grievance redressal tool that will help individuals file complaints and resolve queries more efficiently. The chatbot is now ready for a closed group beta testing and will be officially launched and integrated into DoCA’s website once its testing is complete.

    Smt. Nidhi Khare, Secretary, Department of Consumer Affairs, present while addressing the event, said that the government remains steadfast in its commitment to upholding and safeguarding consumer rights. To make this commitment effective, it is important that consumers are aware of online threats and are able to perceive the unethical business practices, she said. Also, having right to have their grievances heard and addressed is essential for fostering accountability, transparency, and fairness. The chatbox will make it possible through the process of seamless complaint filing and resolution of queries, she stated.

    Mr. Joel Kaplan, Chief Global Affairs Officer, Meta during the event said, “With technology progressing so quickly, it can be hard for people to stay up to date with the best ways to keep themselves safe online, which is why we’re pleased to work with the Department of Consumer Affairs and contribute to India’s digital consumer protection efforts. At Meta we think AI can help people protect themselves and be informed online consumers. By making AI more accessible, we hope to improve consumer awareness, streamline redressal processes, and equip people with the knowledge they need to make informed choices online.”

    The above initiatives are steps in direction of Department’s efforts towards consumer protection and empowerment through enactment of progressive legislations and launching of technology driven programmes. With evolution of technology consumer has been rendered vulnerable to new forms of unfair trade and unethical business practices such as misleading advertisements, Tele-marketing, direct selling, e-commerce etc., thereby, requiring appropriate and swift executive interventions to prevent consumer detriment.

    To address the myriad and constantly emerging vulnerabilities of the consumers and to promote, protect and enforce the rights of the consumers, an executive agency, Central Consumer Protection Authority (CCPA) has been established under section 10 of the Consumer Protection Act, 2019. Section 18 of the Consumer Protection Act, 2019 empowers CCPA to protect, promote and enforce the rights of consumers as a class, prevent unfair trade practices, ensure no false or misleading advertisement is made and ensure that no person takes part in the publication of any advertisement which is false or misleading.  Additionally, under section 18 (2) (j) and (l), CCPA can issue safety notices to alert consumers against dangerous or unsafe goods or services and issue necessary guidelines to prevent unfair trade practices and protect consumers’ interest respectively. As per section 19 of the Act, CCPA may, on receiving information or complaint or directions from central government or of its own motion, conduct or cause to be conducted a preliminary inquiry as to whether there exists a prima facie case of violation of consumer rights or unfair trade practice or any false or misleading advertisement and if satisfied, it shall cause investigation to be made by the Director-General. Under section 20 and 21, CCPA has power to impose penalties up to 50 lakh rupees against such practices.

    In this direction, CCPA has passed appropriate orders in the past against companies and online platforms, in addition to issuing advisories against illegal sale and facilitation of wireless jammers, sale of drugs without prescription, sale of car seat belt alarm stopper etc. Further, Consumer Protection (E-commerce) Rules, 2020 and Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022 were notified to make e-commerce platforms more transparent and accountable to consumers. The Department also published booklet on “Endorsements know-hows for celebrities, influencers and virtual influencers on social media platforms”. In addition to these, time and again, CCPA has issued guidelines to strengthen the legislative framework against unethical business practices in the form of Guidelines on Prevention of Dark Pattern 2023, Guidelines for the Prevention and Regulation of Greenwashing, 2024 and Guidelines for Prevention and Regulation of Misleading Advertisement in Coaching Sector 2024.

    Now, this two-pronged approach – leveraging AI for consumer grievance redressal through GrahakNyay chatbox and enhancing digital literacy through ‘Be an Empowered Consumer’ campaign, marks a significant step in strengthening consumer rights in India.

    *****

    Abhishek Dayal/Nihi Sharma

    (Release ID: 2112470) Visitor Counter : 83

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: IndiaAI and the Geological Survey of India (GSI), Ministry of Mines, launched the IndiaAI Hackathon to revolutionize AI-driven mineral targeting

    Source: Government of India (2)

    IndiaAI and the Geological Survey of India (GSI), Ministry of Mines, launched the IndiaAI Hackathon to revolutionize AI-driven mineral targeting

    Encouraging AI and ML solutions for identification of new potential areas for exploration of critical minerals like REE, Ni-PGE, and copper, as well as other commodities like diamond, iron, manganese, and gold

    Posted On: 18 MAR 2025 6:59PM by PIB Delhi

    In a groundbreaking move to modernize mineral targeting in India, IndiaAI, an Independent Business Division (IBD) under Digital India Corporation (DIC), Ministry of Electronics & IT (MeitY), in collaboration with the Geological Survey of India (GSI), Ministry of Mines, has launched the IndiaAI Hackathon on Mineral Targeting.

    The initiative is aimed at leveraging AI and ML technologies to enhance mineral discovery and geological analysis. Participants will use multi-parametric geoscience datasets, including geology, geophysics, geochemistry, remote sensing, and borehole data, to identify concealed and deep-seated ore bodies. The hackathon aims to:

    1. Identification of new potential areas for exploration of critical minerals like REE, Ni-PGE, and copper, as well as other commodities like diamond, iron, manganese, and gold within a pre- defined 39,000 sq. km area in the states of Karnataka and Andhra Pradesh, India.
    2. Emphasis on locating unrevealed & deep-seated mineralised bodies with depth modelling.
    3. Developing AI/ ML algorithms for data cleaning, integration, modelling, and validation.
    4. Generation of mineral predictive maps showing exploration targets visualised through maps, sections, etc.

    Exciting prizes for Hackathon Winners

    The hackathon is open to Startups & Companies; Academic & Research Institutions; Autonomous bodies, including public sector organizations; students or researchers associated with educational institutions, or working professionals can participate in their individual capacity or as teams. The prize money for the hackathon is as follows.

    •  First Prize: ₹10 Lakh
    •  Second Prize: ₹7 Lakh
    • Third Prize: ₹5 Lakh
    • Special Prize of INR 5 lakhs for All-Women Teams (if no women team in top 3)

    This initiative aligns with the Government of India’s vision of leveraging AI for inclusive growth and responsible development of AI. For more details and to apply, visit https://indiaai.gov.in/article/ai-for-mineral-targeting-join-the-indiaai-hackathon-on-mineral-discovery. The last date for submission is May 12, 2025.

    Significance of the Hackathon

    This initiative aligns with IndiaAI’s mission to democratize AI adoption in critical sectors, fostering technological self-reliance and responsible use of AI. By applying AI to mineral targeting, the government aims to improve discovery, efficiency and strengthen India’s mining sector while ensuring sustainable mineral exploration.

    For further details, visit indiaai.gov.in.

    *****

    Dharmendra Tewari/Navin Sreejith

    (Release ID: 2112453) Visitor Counter : 40

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Kehoe Expands Joint Damage Assessment Request to Include Dunklin and Madison Counties in Preparation for Major Federal Disaster Declaration Request

    Source: US State of Missouri

    MARCH 18, 2025

    Jefferson City — JEFFERSON CITY – Today, Governor Mike Kehoe expanded his request to the Federal Emergency Management Agency (FEMA) for joint preliminary damage assessments (PDAs) for Individual Assistance to include Dunklin and Madison counties. Yesterday, the Governor requested that FEMA participate in joint PDAs in 23 counties following the March 14-15 severe storms that brought destruction to many parts of the state. The requests begin the process of obtaining federal disaster assistance.

    “As local teams survey, confirm and tally the damage, the scale of the destruction to homes and communities is growing,” Governor Kehoe said. “Damage totals and emergency response costs received and reviewed late yesterday and today have led me to add Dunklin and Madison counties to the request to FEMA for joint preliminary damage assessments. I appreciate the emergency managers, officials and responders who are laboring 24/7 to meet people’s immediate needs while at the same time working to expedite the recovery of their communities.”    

    Joint PDAs have now been requested for the following 25 counties: Bollinger, Butler, Camden, Carter, Dunklin, Franklin, Howell, Iron, Jefferson, Laclede, Madison, New Madrid, Oregon, Ozark, Pemiscot, Perry, Phelps, Pulaski, Reynolds, Ripley, St. Louis, Stoddard, Wayne, Webster, and Wright.

    Joint PDA teams are made up of representatives from FEMA, SEMA, the U.S. Small Business Administration and local emergency management officials. Beginning Thursday, March 20, six teams will survey and verify documented damage to determine if Individual Assistance can be requested through FEMA. Individual Assistance allows eligible residents to seek federal assistance for temporary housing, housing repairs, replacement of damaged belongings, vehicles, and other qualifying expenses.

    Initial damage assessments now estimate approximately 369 houses were destroyed, 366 sustained major damage and over 1,000 have minor damage. Damage assessments for roads, bridges and other public infrastructure are ongoing, likely resulting in a request for additional PDAs for Public Assistance later this week. Requests for additional PDAs could be made if local officials become aware of significantly more damage.

    Outages continue to decrease as power is restored. As of 11 a.m., fewer than 8,000 customers remained without power. The State Emergency Operations Center remains activated to assist in Missouri’s response and recovery.  

    Missourians with unmet needs are encouraged to contact United Way by dialing 2-1-1 or the American Red Cross at 1-800-733-2767. For additional resources and information about disaster recovery in Missouri, including general clean-up information, housing assistance, and mental health services, visit recovery.mo.gov.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: India-Malaysia MoS Level Bilateral Meeting held in New Delhi

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:53PM by PIB Delhi

    The Union Minister of State for Commerce & Industry and Electronics & Information Technology, Shri Jitin Prasada had a bilateral meeting with Mr. Liew Chin Tong, Malaysian Deputy Minister of Investment, Trade, and Industry on 18th March 2025, in Vanijya Bhawan, New Delhi. Malaysian Diplomats and Senior Govt. Officials from the Ministry of Investment, Trade and Industry, Malaysia and from the Ministry of Commerce & Industry, Ministry of Electronics & Information Technology, Ministry of External Affairs and Bureau of Indian Standards from Govt of India were also present during the meeting.

    Malaysia is one of the ten-member countries of ASEAN and is the ASEAN Chair for the year 2025.The meeting discussed the ongoing review of ASEAN India Trade in Goods Agreement (AITIGA) and both sides agreed to take necessary steps for speeding up the AITIGA review for its substantial conclusion by 2025.

    Both sides also discussed the bilateral trade issues, Market Access issues, Collaboration in Semiconductor Industry, Cooperation in Service Sector and the issues related to Foreign Manufacturers Certification Scheme (FMCS) of Bureau of Indian Standard (BIS). The two sides hoped that the meeting will help in speeding up the resolution of bilateral trade issues and growing bilateral trade between the two Countries.

    Malaysia is India’s 3rd largest trading partner of India in ASEAN with total trade of USD 20.02 Bn during 2023-24 accounting for around 17 % of India’s total trade with ASEAN.

    ***

    Abhishek Dayal/Abhijith Narayanan

    (Release ID: 2112446) Visitor Counter : 77

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CROPS UNDER MSP

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:10PM by PIB Delhi

    Government fixes minimum support prices (MSPs) for 22 mandated agricultural crops on the basis of the recommendations of the Commission for Agricultural Costs & Prices (CACP), after considering the views of State Governments and Central Ministries/ Departments concerned. The details of increase in the cost of production and comparative details of the increase in cost of production and increase in MSP of various crops covered under MSP in the last five years is enclosed at Annexure-I.

     Government procures cereals and coarse cereals through Food Corporation of India (FCI) and other designated State Agencies to provide price support to the farmers.

    The estimates for procurement of wheat and paddy are finalized by Government of India (GoI) in consultation with State Governments and Food Corporation of India, before the commencement of each marketing season based upon estimated production, marketable surplus and agricultural crop pattern.

    States are allowed to procure coarse grains from farmers at MSP under central pool subject to the prior approval of GOI on the detailed procurement plan prepared by State Governments in consultation with FCI.

    Procurement of pulses, oilseeds and copra is done under Price Support Scheme under Umbrella Scheme of Pradhan Mantri Anna data AaySanrakshan Abhiyan (PM-AASHA), in consultation with the concerned State Government as and when market price of these produce fall below the MSP. Procurement agencies under PM-AASHA Scheme are National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Co-operative Consumers’ Federation of India Ltd. (NCCF). The overall quantity of procurement by Central Government will be restricted to 25% of All India production of the commodity for that particular season/year.

    Cotton and Jute are also procured by Government at MSP through Cotton Corporation of India (CCI) and Jute Corporation of India (JCI), respectively. There is no maximum quantity limit of purchase of produced jute and cotton from farmers.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    Annexure-I

    All India Cost of Production and MSP all Kharif Crops for Marketing Season 2020-21 & 2024-25

    Sl.

    No.

    A

    B

    C

    D=C-B

    E

    F

    G=F-E

    Kharif Crops

    Cost

    MSP

     

     

    2020-21

    2024-25

    Difference

    2020-21

    2024-25

    Difference

    1

    Paddy Common

    1245

    1533

    288

    1868

    2300

    432

    2

    Jowar

    1746

    2247

    501

    2620

    3371

    751

    3

    Bajra

    1175

    1485

    310

    2150

    2625

    475

    4

    Ragi

    2194

    2860

    666

    3295

    4290

    995

    5

    Maize

    1213

    1447

    234

    1850

    2225

    375

    6

    Tur(Arhar)

    3796

    4761

    965

    6000

    7550

    1550

    7

    Moong

    4797

    5788

    991

    7196

    8682

    1486

    8

    Urad

    3660

    4883

    1223

    6000

    7400

    1400

    9

    Groundnut

    3515

    4522

    1007

    5275

    6783

    1508

    10

    Sunflower

    3921

    4853

    932

    5885

    7280

    1395

    11

    Soyabean(Yellow)

    2587

    3261

    674

    3880

    4892

    1012

    12

    Sesamum

    4570

    6178

    1608

    6855

    9267

    2412

    13

    Nigerseed

    4462

    5811

    1349

    6695

    8717

    2022

    14

    Cotton(Medium Staple)

    3676

    4747

    1071

    5515

    7121

    1606

     (In Rs./Qtl.)

    All India Cost of Production and MSP all Rabi Crops for Marketing Season 2021-22 & 2025-26

     

    Sl.

    No.

    Rabi Crops

    Cost

    MSP

     

     

    2021-22

    2025-26

    Difference

    2021-22

    2025-26

    Difference

     

    1

    Wheat

    960

    1182

    222

    1975

    2425

    450

     

    2

    Barley

    971

    1239

    268

    1600

    1980

    380

     

    3

    Gram

    2866

    3527

    661

    5100

    5650

    550

     

    4

    Masur (Lentil)

    2864

    3537

    673

    5100

    6700

    1600

     

    5

    Rapeseed & Mustard

    2415

    3011

    596

    4650

    5950

    1300

     

    6

    Safflower

    3551

    3960

    409

    5327

    5940

    613

     
                       

     (in Rs./Qtl.)

    All India Cost of Production and MSP of Copra (Milling) for Marketing Season 2021 & 2025.

    (In Rs./Qtl.)

    Sl.

    No.

    Crop

    Cost

    MSP

     

    		  

    2021

    2025

    Difference

    2021

    2025

    Difference

    1

    Copra (Milling)

    6805

    7721

    916

    10335

    11582

    1247

     

    All India Cost of Production and MSP of Jute for Marketing Season 2021-22 & 2025-26.

    (in Rs./Qtl.)

    Sl.

    Crop

    Cost

    MSP

    No.

    		  

    2021-22

    2025-26

    Difference

    2021-22

    2025-26

    Difference

     

    1

    Jute

    2832

    3387

    555

    4500

    5650

    1150

     
                       

     

    ****

    (Release ID: 2112407) Visitor Counter : 64

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Former Long Island Business Owner Charged with Orchestrating $22 Million Health Care Fraud, Kickback and Money Laundering Scheme

    Source: Office of United States Attorneys

    Defendant Took Advantage of Elderly Immigrants from the Former Soviet Union to Solicit Bribes from Health Care Providers and Defraud Medicare of Millions of Dollars

    Earlier today, at the federal courthouse in Brooklyn, an indictment was unsealed charging Oleg Beretsky with conspiring to commit health care fraud, violating the federal Anti-Kickback Statute, conspiring to violate the Anti-Kickback Statute and money laundering conspiracy.  Beretsky was arrested this morning in Naples, Florida.  He will be arraigned in the Eastern District of New York at a later date.

    John J. Durham, United States Attorney for the Eastern District of New York,  Naomi Gruchacz, Special Agent in Charge, U.S. Department of Health and Human Services, Office of Inspector General (HHS-OIG), Michael Alfonso, Acting Special Agent in Charge, Homeland Security Investigations, New York (HSI New York), and Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI), announced the arrest and charges.

    “As alleged, elderly individuals trusted the defendant to help them with their health care decisions.  Rather than look out for the interests of some of the most vulnerable members of our community, he sold access to those who trusted him to the highest bidder,” stated United States Attorney Durham. “The defendant compounded his crimes by encouraging doctors and health care providers who became part of his scheme to cheat Medicare by billing for work that was not needed or never performed. My Office is committed to protecting both patients and taxpayers from this terrible form of greed.”

    Mr. Durham expressed his appreciation to HSI’s Fort Myers, Florida, office and the New York City Police Department for their assistance on the case.

    “Violations of the Anti-Kickback Statute can divert much-needed federal health care program funds and corrupt the medical decision-making process,” stated HHS-OIG Special Agent in Charge Gruchacz.  “HHS-OIG works diligently with our law enforcement partners to investigate allegations that owners and other providers engage in fraud schemes that prioritize greed over the provision of appropriate health care services to patients.”

    “The defendant and his co-conspirators are accused of pocketing more than $12 million while exploiting the unknowing, innocent public, including victims from immigrant communities,” stated HSI New York Special Agent in Charge Alfonso.  “As alleged, he took advantage of people with whom he had forged relationships — only to manipulate them into using certain doctors and services for his lucrative benefit.  HSI New York’s El Dorado Task Force is unmatched in its ability to draw from the strengths and equities of all partners involved, with one unified goal being the safety and security of Americans. I commend our partners, including HHS-OIG, IRS-CI, NYPD and HSI’s Fort Meyer’s personnel, for placing the wellbeing of the public above all else.”

    “Millions of dollars were stolen from the American benefits system, and Oleg Beretsky is charged with the crime.  He’s accused of taking advantage of a vulnerable population and funneling stolen Medicare money into his and his co-conspirators’ pockets. IRS-CI is charged with securing trust in the American financial system and actively investigates anyone looking to make a quick buck by stealing from the American public,” stated IRS-CI Special Agent in Charge Chavis.

    As alleged in court filings, from January 2017 to April 2024, Beretsky and co-conspirators engaged in a health care fraud, kickback and money laundering scheme.  Beretsky was the owner of Obest, Inc., a company in Plainview, New York, that purported to provide health care professionals with billing, consulting and support services.  In reality, Obest’s principal business consisted of referring elderly Medicare patients to doctors and other health care professionals in exchange for kickbacks and bribes.  Many of these patients were immigrants from the former Soviet Union, who Beretsky identified through an employee of a nonprofit social service agency that provided housing and other services to senior citizens in Brooklyn and Queens. Beretsky cultivated relationships with many of these patients, which he used to gain control over decisions regarding their health care providers.  Beretsky then used that control to ensure that only doctors and other providers—including social workers, pain specialists and diagnostic companies—who were willing to pay him would have access to the patients.  On at least one occasion, Beretsky threatened a patient who wanted to continue seeing a provider who had stopped paying illegal kickbacks to the defendant.

    The fee charged by Beretsky was typically based either on how many patients Beretsky referred to the provider or how much Medicare reimbursed the provider for services purportedly rendered to the patients.  To generate more fees for himself and his co-conspirators, Beretsky often encouraged or directed providers to bill Medicare for patients who did not need the services those providers rendered, and in some cases, services that were not rendered at all.  In total, doctors and providers who participated in Beretsky’s scheme billed more than $22 million in false and fraudulent claims to Medicare.  Of that more than $22 million, Medicare paid more than $12.4 million in claims, which was distributed to Beretsky and his co-conspirators.  To hide the illegal source of funds Beretsky received from the conspiracy, Beretsky frequently directed co-conspirators to pay his relatives in cash and transferred money to multiple accounts held in the names of his family members.

    The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty. If convicted of the charges, Beretsky faces up to up to 20 years in prison on the money laundering conspiracy count; up to 10 years each on the health care fraud conspiracy and kickback counts; and up to five years on the kickback conspiracy count.

    The government’s case is being handled by the Office’s Business and Securities Fraud Section.  Assistant United States  Attorney Joshua B. Dugan is in charge of the prosecution with the assistance of Paralegal Specialists Liam McNett and Timothy Migliaro.

    The Defendant:

    OLEG BERETSKY
    Age:  67
    Naples, Florida

    E.D.N.Y. Docket No. 25-CR-91 (RPK)

    MIL Security OSI –

  • MIL-OSI USA: Senator Reverend Warnock, Colleagues Push Back on Proposed Cuts to Disaster Programs Helping Georgians Recover From Helene

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Senator Reverend Warnock, Colleagues Push Back on Proposed Cuts to Disaster Programs Helping Georgians Recover From Helene

    In a new letter, Senator Reverend Warnock led 42 of his colleagues in an effort to push back against U.S. Department of Housing & Urban Development (HUD) Secretary Scott Turner’s proposed cuts to disaster recovery programs

    HUD disaster recovery programs help rebuild houses and small businesses, repair roads and bridges, restore clean drinking water service, and invest in workforce development for Georgians who’ve lost jobs

    Georgia is scheduled to receive $256 million under the HUD program for Helene and Milton recovery

    The cuts would reduce the number of employees at the HUD office responsible for getting disaster relief directly to Georgians and Americans from 936 to 150 – an 84% reduction

    The proposed cuts come as Georgia and several other states throughout the Southeast are in the midst of the recovery process following Hurricanes Helene and Milton

    Senator Reverend Warnock recently called for the Trump Administration to distribute federal disaster assistance for Georgia farmers that Congress secured after Hurricane Helene

    Senator Reverend Warnock has been outspoken on aimless cuts to key government agencies, departments, and federal programs that hardworking Americans rely on

    Senator Reverend Warnock, lawmakers: “The CDBG-DR [disaster recovery] program is critical to our states’ ability to recover from natural disasters, and it is essential that HUD distributes funding as quickly and efficiently as possible”

    Washington, D.C. – Yesterday, U.S. Senator Reverend Raphael Warnock (D-GA) led an effort with 42 of his Senate colleagues pushing back on U.S. Department of Housing & Urban Development (HUD) Secretary Scott Turner’s proposed cuts to crucial disaster recovery programs that are under the umbrella of HUD.

    The cuts would reduce employees at HUD’s office of Community Planning and Development, which administers the Community Development Block Grant – Disaster Recovery (CDBG-DR) Program, a crucial pot of funding that helps impacted communities with disaster recovery following extreme weather events like hurricanes. Under this program, Georgia is scheduled to receive $256 million for Helene and Milton recovery, which would likely be in jeopardy due to the cuts.

    This disaster relief work includes rebuilding houses and small businesses, repairing roads and bridges, restoring water services, and investing in workforce development for Georgians who’ve lost jobs. The proposed employee reduction at HUD is roughly 84%, a massive drop from 936 to 150, and would likely impede the hurricane recovery process in Georgia.

    “Communities across the country experienced significant natural disasters in 2023 and 2024. States across the South—including Florida, Tennessee, North Carolina, South Carolina, Virginia, and Georgia—were devastated by Hurricanes Milton and Helene,” wrote the Senators. “CDBG-DR provides states, cities, counties, and Tribes with funding to support recovery efforts in the wake of natural disasters.”

    The news of the proposed cuts comes as Georgia is still in the midst of the ongoing recovery from Hurricane Helene. Senators Warnock and Jon Ossoff (D-GA) recently called for the Trump Administration to distribute federal disaster assistance for Georgia farmers that Congress secured after Hurricane Helene.

    “Specifically, you [Secretary Turner] stated that “one of [your] top priorities” as HUD Secretary would “be to ensure that the disaster recovery funding passed by Congress gets out to communities swiftly” and “into the hands of Americans who have been impacted by recent disasters.”  Your statements indicated a strong commitment to providing our disaster-impacted communities with the resources they need, but we are concerned that recent actions at the Department have not matched that verbal commitment,” the Senators continued.

    “We urge you to immediately stop any additional cuts to the workforce and contracts involved in disaster recovery oversight, and reinstate any recently terminated probationary staff,” the lawmakers concluded.

    In November of last year, Senator Reverend Warnock, Congressional Appropriators, and Governor Brian Kemp requested $3 billion in CDBG-DR funding for Georgia’s recovery from Hurricane Helene. Additionally, Senator Warnock has pushed back on several efforts, spearheaded by the Department of Government Efficiency, to aimlessly cut key government agencies, departments, and federal programs that hardworking Americans rely on. Senator Warnock fought back against cuts to Medicaid in the tax bill proposed by Washington Republicans, spoke out when the Consumer Financial Protection Bureau was effectively closed, and most recently warned Georgians of the impact when the announcement of five Georgia Social Security Administration offices would be closed.

    Read the letter HERE and below.

    Dear Secretary Turner:

    We write today regarding our concerns that recent actions taken by the Department of Housing and Urban Development (HUD) are hampering our states’ ability to access Community Development Block Grant Disaster Recovery (CDBG-DR) funds, and could degrade the ability to recover from both current and future disasters. The CDBG-DR program is critical to our states’ ability to recover from natural disasters, and it is essential that HUD distributes funding as quickly and efficiently as possible. We request additional information on your plans to ensure that communities continue to receive the resources they need to rebuild.

    Communities across the country experienced significant natural disasters in 2023 and 2024. States across the South—including Florida, Tennessee, North Carolina, South Carolina, Virginia, and Georgia—were devastated by Hurricanes Milton and Helene, while Alaska, Louisiana, New Mexico, Pennsylvania, and Illinois experienced severe storms. States in the Northeast— including Vermont and Massachusetts —faced life-threatening floods, while states in the West —including California, Washington State, and Hawaii—saw catastrophic wildfires.

    CDBG-DR provides states, cities, counties, and Tribes with funding to support recovery efforts in the wake of natural disasters. In December 2024, Congress appropriated $12 billion in emergency supplemental CDBG-DR funding. During your confirmation process, you made clear that, if confirmed, you would prioritize getting our constituents CDBG-DR funding as quickly as possible. Specifically, you stated that “one of [your] top priorities” as HUD Secretary would “be to ensure that the disaster recovery funding passed by Congress gets out to communities swiftly” and “into the hands of Americans who have been impacted by recent disasters.”  Your statements indicated a strong commitment to providing our disaster-impacted communities with the resources they need, but we are concerned that recent actions at the Department have not matched that verbal commitment.

    For years, the HUD Office of Inspector General listed disaster recovery oversight as a top management challenge at HUD, noting the need for systems and staff to keep pace with increases in CDBG-DR funding, as well as the need to build the capacity of CDBG-DR grantees. The latest Top Management Challenges report highlighted multiple ways in which HUD has made “meaningful progress,” largely due to the investment Congress has made over the years to support staff, systems, and capacity building. Over the last week, however more than one thousand HUD employees (13% of HUD’s workforce) were fired or accepted the Administration’s deferred resignation offer – including staff supporting the CDBG-DR program. Furthermore, according to recent reports, HUD “plans to discharge 50% of its overall workforce”, and the Office of Community Planning and Development, which is responsible for supporting disaster recovery efforts, is targeted for a staggering 84% cut.  Should such cuts move forward, it is unclear how the Department will continue to ensure the efficient delivery of CDBG-DR funds so our states and communities can continue to rebuild after devastating disasters. 

    HUD has also postponed previously scheduled trainings designed to help grantees understand CDBG-DR program requirements, and it is not clear when those trainings will resume.  Moreover, continued uncertainty on whether and the extent to which HUD may change the current Universal Notice governing the latest allocations from the Disaster Relief Supplemental Appropriations Act, 2025 (Public Law 118-158) could cause additional delays. At least one grantee has already started accepting public comments on their draft action plan. Any major deviations from current requirements could be a huge setback for communities, adding months to recovery efforts. 

    We urge you to immediately stop any additional cuts to the workforce and contracts involved in disaster recovery oversight, and reinstate any recently terminated probationary staff.

    To help us better understand the current status of the CDBG-DR program and your plans to ensure the uninterrupted delivery of CDBG-DR funds for our states and others across the country, we request information to the following questions no later than Monday, March 24, 2025:

    1. All grantees who received allocations from Public Law 118-158 have been using the CDBG-DR Universal Notice to develop their action plans.
      1. Do you intend to make changes to the Universal Notice?
      2. If so, how will HUD do that in a way that is minimally disruptive to the grantees whose actions plans are underway and to avoid delaying assistance?
      3. What is HUD’s timeline for reissuing the second allocation notice for Public Law 118-158 funding that was posted to the Federal Register for public inspection on January 21, 2025 but withdrawn on January 22, 2025?
    1. How many HUD employees were responsible for supporting the implementation of the CDBG-DR program, including the delivery of recently appropriated supplemental funding, on January 20, 2025? Please delineate by field versus headquarters and employee status (e.g., career, conditional, term, etc.).
    1. How many HUD employees are responsible for supporting the implementation of the CDBG-DR program, including the delivery of recently appropriated supplemental funding, on[March 17, 2025]? Please delineate by field versus headquarters and employee status (e.g., career, conditional, term, etc.).
    1. What additional plans, if any, does the Department have to further reduce the number of HUD employees responsible for implementing the CDBG-DR program?
    1. What analyses, if any, has HUD conducted to assess the impact of any proposed or implemented workforce reductions on the Department’s ability to implement CDBG-DR funding? Please provide copies of any written communications, analyses, and other documentation on how workforce reductions could impact the CDBG-DR program produced between January 21, 2025, and [March 17, 2025].
    1. What services, such as trainings and the provision of technical assistance, was HUD providing to CDBG-DR grantees on January 20, 2025?
    1. What services, if any, is HUD currently providing to CDBG-DR grantees? What changes, if any, have occurred to the services provided to CDBG-DR grantees since January 20, 2025?
    1. What additional plans, if any, does the Department have to alter the available services provided to CDBG-DR grantees? 
    1. Have any contracts related to the CDBG-DR program been terminated since January 20, 2025, as a result of the ongoing review of the ongoing reviews of HUD programs?  If so, please detail which contracts, the reason for termination, and the plan for addressing the contracted work, if applicable.

    MIL OSI USA News –

  • MIL-OSI USA: FDA Roundup: March 18, 2025

    Source: US Department of Health and Human Services – 3

    For Immediate Release:
    March 18, 2025

    Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:

    On Tuesday, March 18, the United States District Court for the District of Maryland entered a consent decree of permanent injunction against Totally Cool, Inc., a Maryland-based manufacturer of ice cream and frozen desserts, and its CEO and owner, Michael J. Uhlfelder. On July 8, 2024, the FDA suspended Totally Cool’s food facility registration after an inspection of the firm revealed L. mono in the facility, as well as numerous failures of the firm to adhere to current good manufacturing practice for food safety, including sanitation requirements for employees and equipment. The consent decree prohibits Totally Cool and Mr. Uhlfelder from directly or indirectly receiving, preparing, processing, packing, holding, and/or distributing any article of food unless and until they meet certain requirements.

    On Friday, the FDA issued a Letter to Health Care Providers to notify providers that we are aware that the United States is experiencing interruptions in the supply of hemodialysis bloodlines (also referred to as set, tubing, blood, with and without anti-regurgitation valve) because of recent supplier issues. The FDA has updated the medical device shortage list to include hemodialysis bloodlines (product code FJK). The disruption in availability of this device is expected to impact patient care and may require adjustments to the clinical management of patients requiring acute or chronic hemodialysis. The FDA expects the duration of this shortage to extend through early fall of 2025. The FDA is recommending health care providers experiencing delays in the supply of hemodialysis bloodlines consider strategies to conserve their use. Health care providers should use their clinical judgment in development and implementation of conservation strategies. The Letter to Health Care Providers includes important information about the hemodialysis bloodline shortage including: 

    Additional information about hemodialysis bloodline products affected.
    Recommendations for health care providers. 
    Actions that the FDA is taking to assess and mitigate the risk. 

    Instructions for reporting problems with a device.

    On Friday, the FDA announced the conditional approval of Felycin-CA1 (sirolimus delayed-release tablets) for the management of ventricular hypertrophy in cats with subclinical hypertrophic cardiomyopathy (HCM). This is the first product approved for use in cats with HCM for any indication. Cardiomyopathy is a disease of the heart muscle. HCM in cats causes thickening of the heart’s left ventricle. It is the most common heart disease in cats and is one of the most common causes of death in cats. The drug is only available by prescription from a licensed veterinarian.
    On Friday, the FDA issued a safety alert warning consumers not to inhale or recreationally use any flavor of nitrous oxide in any size canister, tank, or charger. When inhaled, these products can result in serious adverse health effects, including death. For some individuals who regularly inhale nitrous oxide, this habit can lead to prolonged neurological effects, including spinal cord or brain damage, even after stopping use.

    Related Information

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    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Inquiries

    Consumer:
    888-INFO-FDA

    Content current as of:
    03/18/2025

    Regulated Product(s)

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    MIL OSI USA News –

  • MIL-OSI USA: Dome Manufacturer to Create 72 New Jobs, Invest $4.6 Million in Fayetteville for Manufacturing Facility

    Source: US State of North Carolina

    Headline: Dome Manufacturer to Create 72 New Jobs, Invest $4.6 Million in Fayetteville for Manufacturing Facility

    Dome Manufacturer to Create 72 New Jobs, Invest $4.6 Million in Fayetteville for Manufacturing Facility
    lsaito

    Raleigh, NC

    Today, Governor Josh Stein announced Yeadon Fabric Domes, LLC, a manufacturer of air supported structures, will create 72 new jobs in Cumberland County. The company will invest $4.6 million to build a manufacturing facility in Fayetteville.

    “We are delighted to welcome Yeadon Fabric Domes to Cumberland County,” said Governor Stein. “Our manufacturing leadership and textile legacy woven with our strategic location and excellent quality of life will continue to attract innovative, global companies to our great state.” 

    Yeadon Fabric Domes is a leading designer and manufacturer of climate-controlled domed structures. From professional sports to swimming pools, the company’s air-supported facilities provide large, open spaces for a variety of sporting venues and applications. Yeadon Fabric Domes have been installed in more than 30 countries for customers including several professional football teams, University of Pennsylvania and Marquette University. Headquartered in Minnesota, Yeadon will build its own 72-foot-tall domed structure in a 50,000-square-foot space production site at the Fayetteville Regional Airport, adding more manufacturing capacity and service space for its operations.

    “Yeadon Domes is thrilled to be expanding our operations to Fayetteville,” said Matt Mejia, CEO of Yeadon Fabric Domes. “Throughout the process, it has become clear that Fayetteville is the perfect place to build our manufacturing facility, and to continue producing world-class air-supported domes. We’re grateful for the support of Governor Stein, and our many partners throughout North Carolina. We look forward to joining the community and expanding Yeadon’s 55-year legacy in Cumberland County.”

    “North Carolina is one of the fastest growing states in the nation as it continues to be recognized as the top state to do business in America,” said N.C. Commerce Secretary Lee Lilley. “Yeadon Fabric Domes will benefit from a friendly business environment, a world-class workforce, and a rewarding lifestyle in Cumberland County, and we believe they will find great success here.”

    While salaries for the new positions will vary, the average annual salary will be $47,734, exceeding the Cumberland County average of $47,175. These new jobs could create a potential annual payroll impact of more than $3.4 million.

    A performance-based grant of $225,000 from the One North Carolina Fund will help the company locate to Cumberland County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching participation from local governments and any award is contingent upon that condition being met.

    “We welcome Yeadon Fabric Domes and its investment to our region,” said N.C. Senator Val Applewhite. “They will greatly benefit from our transitioning military families which offer a uniquely skilled and prepared workforce that a company of this impact will need.”

    “This is a great win for Cumberland County and the entire state,” said N.C. Representative Diane Wheatley. “We extend our sincere appreciation to the partnership of state and local officials and the economic development professionals that supported Yeadon Fabric Domes in making its next home in Fayetteville.”

    In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, North Carolina Community College System, Cumberland County, the City of Fayetteville, and the Fayetteville Cumberland County Economic Development Corporation. 

    Mar 18, 2025

    MIL OSI USA News –

  • MIL-OSI: NVIDIA Launches Family of Open Reasoning AI Models for Developers and Enterprises to Build Agentic AI Platforms

    Source: GlobeNewswire (MIL-OSI)

    • Post-Trained by NVIDIA, New Llama Nemotron Reasoning Models Provide Business-Ready Foundation for Agentic AI
    • Accenture, Amdocs, Atlassian, Box, Cadence, CrowdStrike, Deloitte, IQVIA, Microsoft, SAP and ServiceNow Pioneering Reasoning AI Agents With NVIDIA to Transform Work

    SAN JOSE, Calif., March 18, 2025 (GLOBE NEWSWIRE) — GTC — NVIDIA today announced the open Llama Nemotron family of models with reasoning capabilities, designed to provide developers and enterprises a business-ready foundation for creating advanced AI agents that can work independently or as connected teams to solve complex tasks.

    Built on Llama models, the NVIDIA Llama Nemotron reasoning family delivers on-demand AI reasoning capabilities. NVIDIA enhanced the new reasoning model family during post-training to improve multistep math, coding, reasoning and complex decision-making.

    This refinement process boosts accuracy of the models by up to 20% compared with the base model and optimizes inference speed by 5x compared with other leading open reasoning models. The improvements in inference performance mean the models can handle more complex reasoning tasks, enhance decision-making capabilities and reduce operational costs for enterprises.

    Leading agent AI platform pioneers — including Accenture, Amdocs, Atlassian, Box, Cadence, CrowdStrike, Deloitte, IQVIA, Microsoft, SAP and ServiceNow — are collaborating with NVIDIA on its new reasoning models and software.

    “Reasoning and agentic AI adoption is incredible,” said Jensen Huang, founder and CEO of NVIDIA. “NVIDIA’s open reasoning models, software and tools give developers and enterprises everywhere the building blocks to create an accelerated agentic AI workforce.”

    NVIDIA Post-Training Boosts Accuracy and Reliability for Enterprise Reasoning
    Built to deliver production-ready AI reasoning, the Llama Nemotron model family is available as NVIDIA NIM™ microservices in Nano, Super and Ultra sizes — each optimized for different deployment needs.

    The Nano model delivers the highest accuracy on PCs and edge devices, the Super model offers the best accuracy and highest throughput on a single GPU, and the Ultra model will provide maximum agentic accuracy on multi-GPU servers.

    NVIDIA conducted extensive post-training on NVIDIA DGX™ Cloud using high-quality curated synthetic data generated by NVIDIA Nemotron™ and other open models, as well as additional curated datasets cocreated by NVIDIA.

    The tools, datasets and post-training optimization techniques used to develop the models will be openly available, giving enterprises the flexibility to build their own custom reasoning models.

    Agentic Platforms Team With NVIDIA to Enhance Reasoning for Industries
    Agentic AI platform industry leaders are working with the Llama Nemotron reasoning models to deliver advanced reasoning to enterprises.

    Microsoft is integrating Llama Nemotron reasoning models and NIM microservices into Microsoft Azure AI Foundry. This expands the Azure AI Foundry model catalog with options for customers to enhance services like Azure AI Agent Service for Microsoft 365.

    SAP is tapping Llama Nemotron models to advance SAP Business AI solutions and Joule, the AI copilot from SAP. Additionally, it is using NVIDIA NIM and NVIDIA NeMo™ microservices to promote increased code completion accuracy for SAP ABAP programming language models.

    “We are collaborating with NVIDIA to integrate Llama Nemotron reasoning models into Joule to enhance our AI agents, making them more intuitive, accurate and cost effective,” said Walter Sun, global head of AI at SAP. “These advanced reasoning models will refine and rewrite user queries, enabling our AI to better understand inquiries and deliver smarter, more efficient AI-powered experiences that drive business innovation.”

    ServiceNow is harnessing Llama Nemotron models to build AI agents that offer greater performance and accuracy to enhance enterprise productivity across industries.

    Accenture has made NVIDIA Llama Nemotron reasoning models available on its AI Refinery platform — including new industry agent solutions announced today — to enable clients to rapidly develop and deploy custom AI agents tailored to industry-specific challenges, accelerating business transformation.

    Deloitte is planning to incorporate Llama Nemotron reasoning models into its recently announced Zora AI agentic AI platform designed to support and emulate human decision-making and action with agents that include deep functional- and industry-specific business knowledge and built-in transparency.

    NVIDIA AI Enterprise Delivers Essential Tools for Agentic AI
    Developers can deploy NVIDIA Llama Nemotron reasoning models with new NVIDIA agentic AI tools and software to streamline the adoption of advanced reasoning in collaborative AI systems.

    All part of the NVIDIA AI Enterprise software platform, the latest agentic AI building blocks include:

    • The NVIDIA AI-Q Blueprint, which enables enterprises to connect knowledge to AI agents that can autonomously perceive, reason and act. Built with NVIDIA NIM microservices, the blueprint integrates NVIDIA NeMo Retriever™ for multimodal information retrieval and enables agent and data connections, optimization and transparency using the open-source NVIDIA AgentIQ toolkit.
    • The NVIDIA AI Data Platform, a customizable reference design for a new class of enterprise infrastructure with AI query agents built with the AI-Q Blueprint.
    • New NVIDIA NIM microservices, which optimize inference for complex agentic AI applications and enable continuous learning and real-time adaptation across any environment. The microservices ensure reliable deployment of the latest models from leading model builders including Meta, Microsoft and Mistral AI.
    • NVIDIA NeMo microservices, which provide an efficient, enterprise-grade solution to quickly establish and maintain a robust data flywheel that enables AI agents to continuously learn from human- and AI-generated feedback. The NVIDIA AI Blueprint for building a data flywheel will offer a reference architecture for developers to easily build and optimize data flywheels using NVIDIA microservices.

    Availability
    The NVIDIA Llama Nemotron Nano and Super models and NIM microservices are available as a hosted application programming interface from build.nvidia.com and Hugging Face. Access for development, testing and research is free for members of the NVIDIA Developer Program.

    Enterprises can run Llama Nemotron NIM microservices in production with NVIDIA AI Enterprise on accelerated data center and cloud infrastructure. Developers can sign up to be notified when NVIDIA NeMo microservices are publicly available.

    The NVIDIA AI-Q Blueprint is expected to be available in April. The NVIDIA AgentIQ toolkit is available now on GitHub.

    About NVIDIA
    NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

    For further information, contact:
    Anna Kiachian
    NVIDIA Corporation
    +1-650-224-9820
    akiachian@nvidia.com

    Certain statements in this press release including, but not limited to, statements as to: the benefits, impact, availability, and performance of NVIDIA’s products, services, and technologies; third parties adopting NVIDIA’s products and technologies and the benefits and impact thereof; NVIDIA’s open reasoning models, software and tools giving developers and enterprises everywhere the building blocks to create an accelerated agentic AI workforce are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

    Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

    © 2025 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DGX, NVIDIA NeMo, NVIDIA Nemotron, NVIDIA NeMo Retriever and NVIDIA NIM are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b111210-07b7-4296-83fa-8c18c9acfbfc

    The MIL Network –

  • MIL-OSI USA: Cassidy, Luján, Trahan Introduce Legislation to Increase Online Transparency, Simplify User Agreements

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy

    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Ben Ray Luján (D-NM) and U.S. Representative Lori Trahan (D-MA-03) introduced the Terms-of-Service Labeling, Design and Readability (TLDR) Act to require commercial websites and mobile apps to create a simple, readable, and accessible summary of their terms-of-service agreements. The TLDR Act would increase online transparency and ensure consumers are informed about how their personal data is collected and used. Small businesses are exempt from the law.
    “Nobody is going to read pages of legal jargon. Companies should be required to provide terms of service that people without a law degree can understand,” said Dr. Cassidy. “Americans have the right to know how their data is collected and used.”
    “Americans deserve the ability to make informed decisions online without having to navigate confusing pages of legal jargon,” said Senator Luján. “Far too many companies take advantage of consumers by burying critical details about their data policies and shield themselves from legal liability in complicated terms-of-service agreements. The TLDR Act will end these harmful practices and help empower and protect consumers. Informing consumers is a bipartisan issue, and I’m proud to join my colleagues to provide real choice online.”
    “Consumers shouldn’t have to wade through pages of dense legal jargon just to use a website or app,” said Representative Trahan. “Right now, companies force users into an all-or-nothing choice: agree to everything or lose access entirely. No negotiation, no alternatives, no real choice. They exploit this imbalance by burying critical terms in confusing contracts, knowing most people don’t have the time to sift through them just to send a message or make a quick purchase. The TLDR Act puts power back in consumers’ hands by requiring companies to provide clear, transparent summaries of their terms – something the American people overwhelmingly support.”
    A 2012 study found that the average American would take 76 work days to read the agreements for the technology companies they use. The TLDR Act would require that online companies include a nutrition label-style summary table at the top of their terms of service and include machine-readable tags to make the agreements more accessible for consumers and researchers alike. This legislation will also require the summaries to inform consumers on how their data is collected and shared with third parties. Further, the legislation would authorize the Federal Trade Commission (FTC) to issue guidance and enforce compliance. 

    MIL OSI USA News –

  • MIL-OSI Russia: Alexey Overchuk spoke at the plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Alexey Overchuk spoke at the plenary session of the XXXIV Congress of the Russian Union of Industrialists and Entrepreneurs.

    The main topics of discussion at this year’s RSPP congress were key areas of interaction between business and government and proposals for the participation of the business community in achieving national development goals for the country and implementing national projects.

    From the transcript:

    A. Overchuk: Dear colleagues!

    Thank you very much for the invitation and the opportunity to speak before the congress of the Russian Union of Industrialists and Entrepreneurs. The success of our economy and the country as a whole truly depends on those present in this hall.

    Entrepreneurship involves competition for access to resources and markets, whether nationally or internationally. It is this activity that provides the source of progress, income and wealth for individual households, businesses and nations.

    We are participants in the formation of a new world with new trade and economic ties and priorities.

    The Russian economy is adapting to deal with that part of the world that has higher rates of economic growth, good demographics, and wants to work with us. And the Government is facilitating this adaptation.

    We see our main task in this process as providing Russian industrialists and entrepreneurs with the best competitive conditions for doing business throughout the entire international value chain, that is, at every stage of the process of creating a product or service and delivering it to consumers.

    Within the framework of the Eurasian Economic Union, the Union State of Russia and Belarus, our actions are aimed at expanding opportunities for our exporters, as well as improving the balance of supply and demand in our common domestic market. Work here is carried out in several areas – this is customs and tariff protection of the domestic market of the Eurasian Economic Union; the formation of common markets and a barrier-free environment in the single customs territory of the EAEU; the development and creation of international transport corridors; the formation of a network of free trade agreements and non-preferential agreements on trade and economic cooperation and the adoption of technical regulations and standards of the EAEU by other countries.

    Within the framework of the single customs space of the EAEU, we strive to respond flexibly to the market situation and accordingly regulate single customs tariffs and import volumes.

    Imported goods and services are part of international value chains and also affect supply and prices in the domestic consumer market. This has a dampening effect on inflation, affects interest rates and labor costs, and is ultimately reflected in production costs.

    Cheap imports can pose threats by displacing domestic producers, reducing employment and income levels, and slowing economic growth. Here, we strive first and foremost to stand on the side of our producers’ interests, giving priority to import substitution and strengthening our economic and technological independence.

    To solve this problem, as well as to stimulate the development of production and economic ties and trade between our countries, the EAEU has launched a support mechanism in the form of subsidizing the interest rate on loans issued by banks for the development of industrial cooperation projects covering three or more EAEU member states. The first two fairly large projects have already been approved. Options for expanding this mechanism to the agro-industrial complex are being considered. I urge Russian entrepreneurs, in conjunction with partners from EAEU member states, to actively use this already existing support mechanism.

    We monitor the balance of supply and demand in the consumer market, primarily the food market, which underlies the cost of the consumer basket. This is one of the elements in determining the level of inflation, which affects the key rate and the cost of lending for business.

    In order to influence the cost of the consumer basket within the EAEU, in addition to tariff measures, over the past two or three years we have begun to apply such a mechanism as a joint indicative balance of supply and demand for individual types of agricultural crops. The EAEU today determines balances for such types of goods as grain, sunflower seeds, sunflower oil and sugar.

    In the event of a reduction in the supply of certain types of goods on the national markets of individual EAEU member states, the EEC Council takes targeted tariff measures. At the same time, decisions to reduce tariffs are taken only after it becomes clear that an increase in supply on the EAEU domestic market is only possible through imports from outside the union. We call for close cooperation with both manufacturers and associations of manufacturers, that is, with businesses.

    Due to the similarity of the structures of our economies within the EAEU, we often compete with our union partners in foreign markets. This affects the reduction of our producers’ income. Now our partners are realizing the benefits of coordinating efforts to promote exports, and we already have positive examples. We will support and develop such initiatives if it is beneficial to our business.

    Within the EAEU, we are forming common markets for goods, services, capital and labour. We have made significant progress in the electric power market. In December 2024, we recorded that the gas market in the EAEU had already taken shape in the form in which it actually exists. Within the Union State, we are reaching agreements on a common oil market and will continue to develop this within the EAEU.

    Common markets within the Union State and the EAEU not only expand opportunities for the sale of goods and services, but also create healthier competitive conditions.

    We will continue to work to reduce and eliminate barriers that hinder the formation of single markets throughout the Eurasian Economic Union, as provided for in our major agreement.

    As the largest economy in the EAEU, Russia is a premium market. And business representatives from EAEU partner states closely monitor changes in the Russian regulatory framework and quickly identify decisions that prevent them from entering our market, if such appear. We would like our business community to more actively enter the markets of other EAEU member states and promptly provide us with information on violations of EAEU law, if such arise.

    Based on economic and geopolitical realities, we focus on ensuring transport and logistics connectivity of our market with the markets of the global South. A program for the modernization and construction of international checkpoints is being implemented. We are working on the construction of the Rasht-Astara railway section in Iran, which will ensure uninterrupted connectivity of the ports of the Russian northwest with Iranian ports in the Indian Ocean.

    We are discussing the modernization of the Ulaanbaatar railway that runs through Mongolia. We are using existing routes and seeking from our partners to improve tariff conditions for our shippers.

    A pilot project was launched to use electronic international consignment notes for international road freight transportation within the single customs territory of the EAEU. To protect the internal market of the Union State, navigation seals began to be used for transit products.

    I would like to draw attention to the Agreement on the Unified Customs Transit System of the EAEU concluded in December 2024 and the fact that states that are not members of the union can also join this agreement. This will allow external partners to be involved in certain aspects of the customs regulation of the union, which will help reduce the time spent on the passage of goods.

    In the context of illegal sanctions, we rely more on internal forces, we are pursuing a policy of import substitution, but we also strive to rely on the opportunities that are provided to us by trade regimes within the Union State of Russia and Belarus, the EAEU, the CIS, as well as those states with which we are establishing free trade zones. And we strive to develop trade with friendly countries.

    The world is beginning to notice the successes of our integration association. They see that the EAEU is becoming a center of attraction for states located to the south of the post-Soviet space, such as Iran, Pakistan, Afghanistan, Mongolia, the ASEAN countries, the Arab countries of the Persian Gulf, and African states. We are building closer trade relations with them, including in the form of free trade agreements.

    For example, just the day before yesterday, the Islamic Republic of Iran notified the Eurasian Economic Commission of the completion of the procedures necessary for the entry into force of a full-scale free trade agreement between the EAEU and Iran. The agreement will enter into force on May 15, and this means that for the EAEU member states, the export market will increase by 85 million consumers. At the same time, Iranian producers will gain access to the common market of the EAEU member states, which is more than 180 million people, which will lead to improved competition in our markets.

    Similar work is currently underway with a number of other countries. By the end of the year, we can expect that the EAEU may sign two more free trade agreements. I believe that our business community should carefully study these new opportunities.

    In conclusion, I would like to say that this year an action plan for the implementation of the EAEU Declaration for 2030–2045, “The Eurasian Economic Path,” is being prepared for adoption. I would like the members of the Business Council to participate more actively in this work.

    Thank you for your attention.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI USA: HHS, FDA Announce Operation Stork Speed to Expand Options for Safe, Reliable, and Nutritious Infant Formula for American Families

    Source: US Department of Health and Human Services – 3

    For Immediate Release:
    March 18, 2025

    Today, under the leadership of U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr., the U.S. Food and Drug Administration is taking steps to enhance its efforts to ensure the ongoing quality, safety, nutritional adequacy, and resilience of the domestic infant formula supply.
    “The FDA will use all resources and authorities at its disposal to make sure infant formula products are safe and wholesome for the families and children who rely on them,” said HHS Secretary Kennedy. “Helping each family and child get off to the right start from birth is critical to our pursuit to Make America Healthy Again.”
    The FDA is announcing a set of actions and initiatives focused on infant formula, such as beginning the nutrient review process and increasing testing for heavy metals and other contaminants. The agency is also encouraging companies to develop new infant formulas and clarify opportunities to help inform consumers about formula ingredients. These enhanced FDA commitments are focused on making sure a strong supply of the sole source of nutrition for formula-fed babies and children remains available for one of our nation’s most vulnerable populations.
    “The FDA is deeply committed to ensuring that moms and other caregivers of infants and young children and other individuals who rely on infant formula for their nutritional needs have confidence that these products are safe, consistently available, and contain the nutrients essential to promote health and wellbeing during critical stages of development and life,” said Acting FDA Commissioner Sara Brenner, M.D., M.P.H. “Whether breastfed, bottle fed or both, the rising generation must be nourished in a way that promotes health and longevity over the course of their lives.”
    The FDA uses its authorities, both longstanding and newly granted, to uphold the safety, nutritional adequacy and resilience of infant formula and the infant formula supply. The FDA is:

    Starting the nutrient review required by law by issuing a Request for Information in the coming months to start the first comprehensive update and review of infant formula nutrients by the FDA since 1998
    Increasing testing for heavy metals and other contaminants in infant formula and other foods children consume
    Extending the personal importation policy
    Encouraging companies to work with the FDA on any questions regarding increased transparency and clearer labeling
    Communicating regularly with consumers and industry stakeholders as significant developments occur to ensure transparency, including information regarding nutrients and health outcomes
    Collaborating with the National Institutes of Health and other scientific bodies to address priority scientific research gaps regarding short- and long-term health outcomes associated with formula feeding in infancy and childhood across the lifespan

    The FDA remains committed to infant formula safety and nutritional quality and is taking all actions to ensure the U.S. infant formula supply ranks best in the world.
    Related Information

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    Boilerplate

    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Inquiries

    Consumer:
    888-INFO-FDA

    Content current as of:
    03/18/2025

    Regulated Product(s)

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI USA: Secretary Redding Visits 10th Generation Dairy Farm to Celebrate Pennsylvania’s Progress, Shapiro Administration’s New Investments Shaping Its Future

    Source: US State of Pennsylvania

    March 18, 2025 – Middletown, PA

    Secretary Redding Visits 10th Generation Dairy Farm to Celebrate Pennsylvania’s Progress, Shapiro Administration’s New Investments Shaping Its Future

    Agriculture Secretary Russell Redding celebrated National Ag Day with the Nissley family on their 10th-generation dairy farm in Middletown today to see some of the progress supported by the Shapiro Administration’s strategic investments in the future of their farm and farms like it across Pennsylvania.

    The Nissley family took advantage of a Pennsylvania Farm Vitality Planning Grant in 2024 to support the legal and business planning services they needed to keep their farm in the family. This February, the business received one of the first Pennsylvania Agricultural Innovation Grants to fund a feasibility study for an anaerobic digester to help them turn farm waste into energy to power the farm.

    “At Jubilee Dairy and family farms like it across Pennsylvania, we are seeing the results of our investments with and for our farm families,” Agriculture Secretary Russell Redding said. “On kitchen tables, and in the businesses and communities that depend on family farms succeeding, we can see firsthand how Shapiro Administration investments with broad bi-partisan support are feeding Pennsylvania’s economic future, protecting our rich agricultural heritage, and preparing businesses, families, and communities to meet the challenges ahead.”

    LIST OF SPEAKERS:
    PA Agriculture Business Development Center Director, Stephanie Shirk
    PA Dept. of Agriculture Secretary, Russell Reading
    Jubilee Heritage Owner, Kendra, Nissley
    Future Farmers of America State Reporter, Evan Espenshade

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Kemp Appoints State DOL Commissioner

    Source: US State of Georgia

    ATLANTA – Governor Brian P. Kemp today announced his appointment of Bárbara Rivera Holmes as Commissioner of the Georgia Department of Labor. Joined by her family and supporters, she will be sworn into office on April 4th and serve the remainder of the term won by Bruce Thompson in 2022, who sadly passed away last November.

    “Marty and I are proud to make this historic announcement and to congratulate Bárbara Rivera Holmes on her new leadership role that will benefit our entire state,” said Governor Brian Kemp. “As someone who has a proven track record of success in economic development and education, I know she will bring the same level of dedication to this position that she has to the people of Dougherty County and the surrounding area. I wish her continued success, both for her career and office, but especially on behalf of the hardworking people of Georgia.”

    “Marty, the girls, and I also want to thank Louis DeBroux and the leadership team at the Department of Labor who have kept the Department moving forward after the painful loss of Bruce Thompson last year,” Governor Kemp continued. “Their hard work and uninterrupted commitment to the people of our state will not be forgotten.”

    “Throughout my career, I’ve been committed to creating opportunities and building stronger communities by fostering partnerships and statewide alliances that drive job growth, tap into our state’s talent and enhance Georgia’s competitiveness,” said Bárbara Rivera Holmes. “I’m grateful to Governor Kemp for the opportunity to build on this work, pledging to always put Georgians first as commissioner of the Georgia Department of Labor. I look forward to working alongside my fellow constitutional officers and Team Georgia as champions of our great state.”

    “Bárbara is an excellent choice for Commissioner of Labor,” said former Governor Nathan Deal. “She brings years of experience in economic development, workforce, and higher education to the job. Bárbara will join a talented team helping ensure our state continues to be the best place for business, raise a family, and call home.”

    “I want to extend my congratulations to Bárbara Rivera Holmes on her appointment to serve as Georgia’s Labor Commissioner,” said Lt. Governor Burt Jones. “As we continue to mourn the loss of our dear friend and former Commissioner Bruce Thompson, we warmly welcome Ms. Rivera Holmes. Her role as the Albany Area Chamber of Commerce President and CEO, along with her extensive background in business and workforce development, make her a great fit to take on this important role. I look forward to working with her on key issues impacting Georgia’s businesses, workforce, and overall economic success.”

    “The Georgia House is incredibly excited to welcome Bárbara Rivera Holmes into her new role as Commissioner of Labor,” said Speaker of the House Jon Burns. “Her wealth of experience in economic development and small business advocacy will undoubtedly be invaluable as we continue our efforts to strengthen Georgia’s workforce in every corner of the state.”

    “Bárbara Rivera Holmes has been for many years a fierce advocate for Georgia’s workforce and economic development, and she’s been a strong partner in our fight to combat fraud and cybercrimes in Southwest Georgia and beyond,” said Attorney General Chris Carr. “We’re proud to join in congratulating her on this historic appointment, and we look forward to continuing to work together to ensure that Georgia remains the best place to live, work, and build a business.”

    “I am thrilled to congratulate my friend and a Great Georgian, Bárbara Rivera Holmes, on her historic appointment to serve as Georgia Labor Commissioner,” said Georgia Agriculture Commissioner Tyler Harper. “As a longtime resident of Albany, I know Bárbara has a deep understanding of Georgia’s No. 1 industry, and she knows that for Georgia’s farm families, agriculture is more than just a job or a hobby – it is our way of life. I’m excited to welcome Barbara to our fantastic team of Constitutional Officers, and I look forward to working together to deliver for Georgia farmers and consumers alike.”

    “With a long history of hard work and strong leadership, there is no doubt that Bárbara Rivera Holmes will create lasting, positive changes in our state,” said Insurance Commissioner John King. “She brings an incredible depth of experience and understanding of the challenges Georgians face, and I look forward to working with her to move Georgia towards a brighter future.”

    “I’ve known Bárbara Rivera Holmes for quite a while now and I congratulate her on her appointment,” Public Service Commission Chairman Jason Shaw said on behalf of his fellow Commissioners. “She is one of the true champions of South Georgia and the entire state. Her dedication to community service, economic development, and higher education will certainly provide her a solid base as she begins work as our newest Labor Commissioner.”

    “I commend Governor Kemp for appointing Bárbara Rivera Holmes as Georgia’s Labor Commissioner,” said Secretary of State Brad Raffensperger. “Her expertise in economic development has positively impacted many lives in Southwest Georgia, and I’m optimistic about her extending that success statewide. I also want to express my gratitude to Louis DeBroux for his leadership in continuing the work of our friend Bruce Thompson and working tirelessly to improve the lives of all Georgians.”

    “I wish to congratulate Bárbara Rivera Holmes on her historic appointment as Georgia’s Commissioner of Labor, and I look forward to the valuable perspective she’ll bring to the role as someone rooted in rural Georgia,” said State School Superintendent Richard Woods. “Education and workforce concerns are so closely intertwined, and I look forward to working with Commissioner Rivera Holmes to ensure a prosperous future for our students and our state as a whole.”

    “As a former regent for the University System of Georgia, Bárbara Rivera Holmes understands the university system provides talent flow for industry,” said University System of Georgia Chancellor Sonny Perdue. “Combined with her longtime experience leading the Albany Area Chamber of Commerce, she knows how to build community, solve business challenges, and partner with decision-makers, employers, and innovators. We look forward to working with her closely as she develops a workforce for Georgia’s future.”

    Bárbara Rivera Holmes is president and CEO of the Albany Area Chamber of Commerce. She is also CEO of the Albany Area Chamber Foundation. Under her leadership, the organizations build economic opportunity, community, and a path forward for Albany’s future by solving businesses’ greatest challenges, working with decisionmakers to inform smart policy, and partnering with employers and educators to build a modern and adaptive workforce.

    Previously, she served as Vice President of the Albany-Dougherty Economic Development Commission (ADEDC), overseeing the development of its brand, marketing campaigns, and its successful business retention and expansion program which facilitates existing industry job creation and capital investment in Albany-Dougherty County.

    Prior to her work at the ADEDC, Holmes was the senior business writer with The Albany Herald, where she earned four Georgia Associated Press awards for excellence in journalism. In 2018, she was appointed by former Governor Nathan Deal to the Board of Regents of the University System of Georgia and also served as co-chair of the Georgia Innovates Task Force to help design the state’s innovation blueprint. Earlier this year, Governor Brian Kemp appointed Holmes to the House Rural Development Council.

    A native of San Juan, Puerto Rico, Holmes is fluent in Spanish. She graduated as a double major from Florida Southern College, where she studied Journalism and Spanish. Holmes lives in Albany with her husband, David, and their daughter.

    MIL OSI USA News –

  • MIL-OSI USA: Risch Names The Gangplank as March Small Business of the Month

    US Senate News:

    Source: United States Senator for Idaho James E Risch

    BOISE, Idaho – U.S. Senator Jim Risch, senior member and former chairman of the Senate Committee on Small Business and Entrepreneurship, announced the selection of The Gangplank in Idaho Falls as the Idaho Small Business of the Month for March 2025. The Gangplank will be recognized for its contribution to the Southeast Idaho community in the Congressional Record of the U.S. Senate.

    “The Gangplank has been a Southeast Idaho staple for 55 years,” said Risch. “Owned by the Croney family, The Gangplank serves the people of Idaho Falls delicious fish and chips and excellent community service. I’m proud to recognize The Gangplank as the March Small Business of the Month.”

    Idaho is consistently ranked one of the best places in the country to do business. Each month, Senator Risch selects an Idaho small business that exemplifies the Idaho values of hard work, entrepreneurial spirit, and exceptional commitment to community.?

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Polis Meets With Regional Leaders to Discuss Colorado’s Leadership and Efforts to Address Workforce Needs

    Source: US State of Colorado

    ARVADA – Today, Governor Polis met with industry and education leaders from around the Denver region to discuss much needed career pathway solutions and begin developing workforce plans to ensure that Colorado workers develop the skills employers need. Hosted by the Talent Innovation Division within the Colorado Office of Economic Development and International Trade (OEDIT) and the Arvada Chamber of Commerce, the summit is one of seven Opportunity Now Regional Talent Summits being held across the state.

    “Colorado is the best place to live and start a business. As a state, we continue investing in talent development initiatives so  all Coloradans can access good-paying jobs and employers can find the skilled workers needed to grow and thrive,” said Gov. Polis.

    Today’s summit focused on advanced manufacturing, aerospace and defense, and renewables and clean energy in Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Gilpin and Jefferson counties. The roundtable discussions and industry breakout sessions will inform the creation of tactical plans to develop industry-specific career pathways that connect Coloradans to good-paying jobs and meet the needs of the region’s employers.

    “Ensuring Colorado’s employers have access to workers equipped with the skills needed for today’s and tomorrow’s jobs is central to our commitment to building a strong, inclusive economy that benefits everyone. These summits will ensure that workforce development solutions prioritize the needs of industry that are unique for each region,” said Eve Lieberman, OEDIT Executive Director.

    The Regional Talent Summits, established by HB24-1365, build on the impact of the Opportunity Now grant program which has, to date, distributed nearly $90 million to 89 grant recipients to launch and expand innovative talent development programs across the state. Within the nine-county region represented at today’s Regional Talent Summit, notable grant recipients include:

    • BuildStrong Academy – An industry-driven, on-the-job training program enabling participants to learn construction skills while earning a wage. This program places hundreds of Coloradans into jobs every year while supporting the construction of much-needed homes and apartments as well as maintenance of existing structures.
    • Innosphere Ventures – In collaboration with the aerospace industry, structured internship and apprenticeship programs are training a new generation of systems engineers equipped to meet the demands of Colorado’s rapidly growing aerospace sector.
    • CoorsTek – The CoorsTek Training Academy partners with educational institutions to offer youth and mid-career advanced manufacturing apprenticeship programs that teach technical and soft skills.
    • AdvanceEDU – A combination of on-the-job training and college courses support Coloradans to enter the health care industry. Nearly all students are the first in their family to attend college and the program has a 90% success rate for student completion and job placement. This success is attributed in part to services like free childcare, technology, career coaching and financial aid.

    Grant recipients from ActivateWork, AdvanceEdu, African-American Trade Association, BuildStrong Academy, Colorado Community College System/Red Rocks Community College, CoorsTek, CrossPurpose, Denver Economic Development Office (DEDO), Innosphere Ventures, and the St. Vrain Valley School District also participated in today’s summit.

    “These summits empower local business, education and economic development partners to create real, sustainable solutions for workforce development. Understanding these needs and identifying solutions on a regional level is crucial to our success as a state, and I look forward to the action plans that result from this important work,” said House Speaker Julie McCluskie.

    “As a state, we know that workforce development is key to strengthening our economy and helping Coloradans continue to thrive. These summits build on momentum created by the Opportunity Now grant program and will result in real action that connects Denver area workers to good-paying jobs,” said Sen. Jeff Bridges.

    Today’s event follows the Northeast Regional Talent Summit held last month at the University of Northern Colorado in Greeley, which focused on advanced manufacturing, construction and healthcare. Five more summits will take place across the state between now and June 2025, and each region’s tactical workforce plans will be published in the 2025 Colorado Talent Pipeline report, with annual progress reports being published through 2030. The next summit will take place April 2 in Pueblo, focused on advanced manufacturing, construction and technology.

    About the Colorado Office of Economic Development and International Trade

    The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

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    MIL OSI USA News –