Category: Commerce

MIL-OSI: Asure Announces Fourth Quarter and Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

Reports Full Year 2024 Revenues of $119.8 million

Full Year 2024 Recurring Revenues Grew 15% from Prior Year

Recurring Revenues Grew to 96% of Total Revenues from 84% in the Prior Year

AUSTIN, Texas, March 06, 2025 (GLOBE NEWSWIRE) — Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter 2024 Financial Highlights

Revenue of $30.8 million, up 17% year over year, excluding ERTC revenue up 22% from prior year fourth quarter
Recurring revenue of $28.5 million, up 14% from prior year fourth quarter
Net loss of $3.2 million versus a net loss of $3.6 million during prior year fourth quarter
EBITDA (1) of $3.4 million versus $1.1 million from prior-year fourth quarter
Adjusted EBITDA (1) of $6.2 million, versus $2.8 million from prior-year fourth quarter
Gross profit of $20.9 million versus $17.8 million from prior-year fourth quarter
Non-GAAP gross profit (1) of $22.5 million (Non-GAAP gross margin (1) of 73%) versus $18.8 million (and 72% in prior-year fourth quarter)

Full Year 2024 Financial Highlights

Revenue of $119.8 million increased slightly year over year, excluding ERTC revenue up 17% from prior year
Recurring revenue of $114.5 million up 15% from prior year
Net loss of $11.8 million versus prior year net loss of $9.2 million
EBITDA (1) of $11.4 million versus $14.3 million in the prior year
Adjusted EBITDA (1) of $22.5 million versus $23.3 million in the prior year
Gross profit of $82.1 million versus $85.5 million in the prior year
Non-GAAP gross profit (1) of $88.2 million versus $90.3 million in the prior year

Recent Business Highlights

In January 2025 we signed a major multi-year agreement with an industry leader in audit, consulting, tax and advisory services to resell our Payroll and Payroll Tax Management solutions. The multi-year agreement will deliver comprehensive payroll and payroll tax management services for the firm’s clients enabling them to offer these services for the first time.
We announced the introduction of Luna, a groundbreaking AI agent designed to enhance payroll and HR management. Unlike traditional generative AI chatbots, Luna is an advanced AI agent that understands Asure’s suite of products, serves as an industry expert, and most importantly, can act on behalf of both employees through self-service and business owners and administrators.
Jay Whitehead joined Asure in January 2025 as Senior Vice President to lead our AsurePay™ Platinum VIP Banking card and Marketplace businesses. He is a seasoned entrepreneur, and HCM thought leader who we expect to drive innovation and foster strategic partnerships at Asure.

⁽¹⁾This financial measure is not calculated in accordance with GAAP and is defined on page 3 of this press release. A reconciliation of this non-GAAP measure to the most applicable GAAP measure begins on page 11 of this release.

Management Commentary

“We are pleased to report strong results for 2024, demonstrating the continued momentum of our business. Excluding the one-time impact of ERTC revenue, our fourth-quarter revenue grew 22% year-over-year, reaching $30.8 million—an impressive finish to the year. For the full year, total revenue increased modestly to $119.8 million, but when adjusted to exclude ERTC, our revenue growth was 17% year-over-year, underscoring the strength of our core business. Recurring revenue, the backbone of our model, grew 15% year-over-year and now represents 96% of total revenue, up from 84% in 2023. Additionally, our contracted revenue backlog continued to expand, providing further visibility into future growth,” said Asure Chairman and CEO Pat Goepel.

“Our performance in 2024 was particularly strong in key areas, including our Payroll Tax Management product, which drove several major multi-year agreements with enterprise clients. The success of this product, along with our growing backlog, reinforces the durability of our revenue streams and positions us well for the future.”

“We executed our strategy despite the anticipated headwind of replacing one-time ERTC revenue, and we are entering 2025 with a solid foundation for continued growth. Our plan for 2025 includes both organic and inorganic expansion, supported by the significant investments we’ve made in technology, operations, and new product development. With these improvements, we are confident in our ability to drive sustained, long-term growth.”

First Quarter 2025 and Full Year 2025 Revenue Guidance Ranges

The Company is providing the following guidance for the first quarter 2025 and full year 2025 based on the Company’s year-to-date results and recent business trends. The guidance for our first quarter 2025 and the full year 2025 excludes any contribution from future potential acquisitions.

Guidance for 2025

Guidance Range		Q1-2025		FY-2025
Revenue	$	33.0 M – 35.0 M	$	134.0 M -138.0 M
Adjusted EBITDA⁽¹⁾	$	6.0 M -7.0 M		23% -24%

Management uses GAAP, non-GAAP and adjusted measures when planning, monitoring, and evaluating the Company’s performance. The primary purpose of using non-GAAP and adjusted measures is to provide supplemental information that may prove useful to investors and to enable investors to evaluate the Company’s results in the same way management does.

Management believes that supplementing GAAP disclosures with non-GAAP and adjusted disclosures provides investors with a more complete view of the Company’s operational performance and allows for meaningful period-to-period comparisons and analysis of trends in the Company’s business. Further, to the extent that other companies use similar methods in calculating adjusted financial measures, the provision of supplemental non-GAAP and adjusted information can allow for a comparison of the Company’s relative performance against other companies that also report non-GAAP and adjusted operating results.

Management has not provided a reconciliation of guidance of GAAP to non-GAAP or adjusted disclosures because management is unable to predict the nature and materiality of non-recurring expenses without unreasonable effort.

Management’s projections are based on management’s current beliefs and assumptions about the Company’s business, and the industry and the markets in which it operates; there are known and unknown risks and uncertainties associated with these projections. There can be no assurance that our actual results will not differ from the guidance set forth above. The Company assumes no obligation to update publicly any forward-looking statements, including its 2025 earnings guidance, whether as a result of new information, future events or otherwise. Please refer to the “Use of Forward-Looking Statements” disclosures on page 5 of this press release as well as the risk factors in our quarterly and annual reports on file with the Securities and Exchange Commission for more information about risk that affect our business and industry.

Conference Call Details

Asure management will host a conference call on Thursday, March 6, 2025, at 3:30 pm Central (4:30 pm Eastern). Asure Chairman and CEO Pat Goepel and CFO John Pence will participate in the conference call followed by a question-and-answer session. The conference call will be broadcast live and available for replay via the investor relations section of the Company’s website. Analysts may participate on the conference call by dialing 877-407-9219 or 201-689-8852.

About Asure Software, Inc.

Asure (Nasdaq: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit www.asuresoftware.com.

Non-GAAP and Adjusted Financial Measures

This press release includes information about non-GAAP gross profit, non-GAAP sales and marketing expense, non-GAAP general and administrative expense, non-GAAP research and development expense, EBITDA, EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin. These non-GAAP and adjusted financial measures are measurements of financial performance that are not prepared in accordance with U.S. generally accepted accounting principles and computational methods may differ from those used by other companies. Non-GAAP and adjusted financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the Company’s Condensed Consolidated Financial Statements prepared in accordance with GAAP. Non-GAAP and adjusted financial measures are reconciled to GAAP in the tables set forth in this release and are subject to reclassifications to conform to current period presentations.

Non-GAAP gross profit differs from gross profit in that it excludes amortization, share-based compensation, and one-time items.

Non-GAAP sales and marketing expense differs from sales and marketing expense in that it excludes share-based compensation and one-time items.

Non-GAAP general and administrative expense differs from general and administrative expense in that it excludes share-based compensation and one-time items.

Non-GAAP research and development expense differs from research and development expense in that it excludes share-based compensation and one-time items.

EBITDA differs from net income (loss) in that it excludes items such as interest, income taxes, depreciation, and amortization. Asure is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort.

Adjusted EBITDA differs from EBITDA in that it excludes share-based compensation, other income (expense), net and one-time expenses. Asure is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort.

All adjusted and non-GAAP measures presented as “margin” are computed by dividing the applicable adjusted financial measure by total revenue.

Specifically, as applicable to the respective financial measure, management is adjusting for the following items when calculating non-GAAP and adjusted financial measures as applicable for the periods presented. No additional adjustments have been made for potential income tax effects of the adjustments based on the Company’s current and anticipated de minimis effective federal tax rate, resulting from the Company’s continued losses for federal tax purposes and its tax net operating loss balances.

Share-Based Compensation Expenses. The Company’s compensation strategy includes the use of share-based compensation to attract and retain employees and executives. It is principally aimed at aligning their interests with those of our stockholders and at long-term employee retention, rather than to motivate or reward operational performance for any particular period. Thus, share-based compensation expense varies for reasons that are generally unrelated to operational decisions and performance in any particular period.

Depreciation. The Company excludes depreciation of fixed assets. Also included in the expense is the depreciation of capitalized software costs.

Amortization of Purchased Intangibles. The Company views amortization of acquisition-related intangible assets, such as the amortization of the cost associated with an acquired company’s research and development efforts, trade names, customer lists and customer relationships, and acquired lease intangibles, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense, one that is not typically affected by operations during any particular period.

Interest Expense, Net. The Company excludes accrued interest expense, the amortization of debt discounts and deferred financing costs.

Income Taxes. The Company excludes income taxes, both at the federal and state levels.

One-Time Expenses. The Company’s adjusted financial measures exclude the following costs to normalize comparable reporting periods, as these are generally non-recurring expenses that do not reflect the ongoing operational results. These items are typically not budgeted and are infrequent and unusual in nature.

Settlements, Penalties and Interest. The Company excludes legal settlements, including separation agreements, penalties and interest that are generally one-time in nature and not reflective of the operational results of the business.

Acquisition and Transaction Related Costs. The Company excludes these expenses as they are transaction costs and expenses that are generally one-time in nature and not reflective of the underlying operational results of our business. Examples of these types of expenses include legal, accounting, regulatory, other consulting services, severance and other employee costs.

Other non-recurring Expenses. The Company excludes these as they are generally non-recurring items that are not reflective of the underlying operational results of the business and are generally not anticipated to recur. Some examples of these types of expenses, historically, have included write-offs or impairments of assets, demolition of office space and cybersecurity consultants.

Other (Expense) Income, Net. The Company’s adjusted financial measures exclude Other (Expense) Income, Net because it includes items that are not reflective of the underlying operational results of the business, such as loan forgiveness, adjustments to contingent liabilities and credits earned as part of the CARES Act, passed by Congress in the wake of the coronavirus pandemic.

Use of Forward-Looking Statements

This press release contains certain statements made by management that may constitute “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements about our financial results may include expected or projected U.S GAAP, non-U.S GAAP and other operating and non-operating results. The words “believe,” “may,” “will,” “estimate,” “projects,” “anticipate,” “intend,” “expect,” “should,” “plan,” and similar expressions are intended to identify forward-looking statements. Examples of “forward-looking statements” include statements regarding our strategy, future operations, financial condition, results of operations, projected costs, revenue growth, earnings, and plans and objectives of management. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions, over many of which we have no control. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. Additionally, we are under no obligation to update any of the forward-looking statements after the date of this press release or to confirm such statements to actual results.

The risks and uncertainties referred to above include—but are not limited to— risks associated with breaches of the Company’s security measures; risks related to material weaknesses; possible fluctuations in the Company’s financial and operating results; privacy concerns and laws and other regulations may limit the effectiveness of our applications; the financial and other impact of any previous and future acquisitions; domestic and international regulatory developments, including changes to or applicability to our business of privacy and data securities laws, money transmitter laws and anti-money laundering laws; regulatory pressures on economic relief enacted as a result of the COVID-19 pandemic that change or cause different interpretations with respect to eligibility for such programs; risk of our software and solutions not functioning adequately; interruptions, delays or changes in the Company’s services or the Company’s Web hosting; may incur debt to meet future capital requirements; volatility and weakness in bank and capital markets; access to additional capital; significant costs as a result of operating as a public company; the expiration of Employee Retention Tax Credits (“ERTC”) and the impact of the Internal Revenue Service recent measures regarding ERTC claims and the corresponding cash collections of existing receivables; the inability to continue to release timely updates for changes in laws; the inability to develop new and improved versions of the Company’s services and technological developments; customer’s nonrenewal of their agreements and other similar changes could negatively impact revenue, operating results and financial conditions; the exposure of market, interest, credit and liquidity risk on client funds held int rust; the Company’s operation in highlight competitive markets; risk that our clients could have insufficient funds that could result in limitations in the ability to transmit ACH transactions; impairment of intangible assets; litigation and any related claims, negotiations and settlements, including with respect to intellectual property matters or industry-specific regulations; various financial aspects of the Company’s Software-as-a-Service model; adverse effects to our business a result of claims, lawsuits, and other proceedings; issues in the use of artificial intelligence in our HCM products and services; adverse changes to financial accounting standards to the Company; inability to maintain third-party licensed software; evolving regulation of the Internet, changes in the infrastructure underlying the Internet or interruptions in Internet; factors affecting the Company’s deferred tax assets and ability to value and utilize them; the nature of the Company’s business model; inability to adopt new or correctly interpret existing money service and money transmitter business status; the Company’s ability to hire, retain and motivate employees and manage the Company’s growth; interruptions to supply chains and extended shut down of businesses; potential enactment of adverse tax laws, regulation, political, economic and social factors; potential sales of a substantial number of shares of our common stock along with its volatility; risks associate with potential equity-related transactions including dividends, rights under the stockholder plan to discourage certain actions and other impacts as a result of actions of our stockholders.

Please review the Company’s risk factors in its annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025.

The forward-looking statements, including the financial guidance and 2025 outlook, contained in this press release represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations with regard to these forward looking statements or any change in events, conditions or circumstances on which any such statements are based. © 2025 Asure Software, Inc. All rights reserved


ASURE SOFTWARE, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts)

	December 31, 2024			December 31, 2023

ASSETS
Current assets:
Cash and cash equivalents	$	21,425		$	30,317
Accounts receivable, net of allowance for credit losses of $6,328 and $4,787 at December 31, 2024 and December 31, 2023, respectively		18,154			14,202
Inventory		195			155
Prepaid expenses and other current assets		4,888			3,471
Total current assets before funds held for clients		44,662			48,145
Funds held for clients		192,615			219,075
Total current assets		237,277			267,220
Property and equipment, net		19,669			14,517
Goodwill		94,724			86,011
Intangible assets, net		69,114			62,082
Operating lease assets, net		4,041			4,991
Other assets, net		11,813			9,047
Total assets	$	436,638		$	443,868
LIABILITIES AND STOCKHOLDERS’EQUITY
Current liabilities:
Current portion of notes payable	$	7,008		$	27
Accounts payable		1,364			2,570
Accrued compensation and benefits		4,485			6,519
Operating lease liabilities, current		1,438			1,490
Other accrued liabilities		6,600			3,862
Deferred revenue		8,363			6,853
Total current liabilities before client fund obligations		29,258			21,321
Client fund obligations		194,378			220,019
Total current liabilities		223,636			241,340
Long-term liabilities:
Deferred revenue		3,430			16
Deferred tax liability		2,612			1,728
Notes payable, net of current portion		5,709			4,282
Operating lease liabilities, noncurrent		3,578			4,638
Other liabilities		358			209
Total long-term liabilities		15,687			10,873
Total liabilities		239,323			252,213
Stockholders’ equity:
Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding		—			—
Common stock, $0.01 par value; 44,000 shares authorized; 26,671 and 25,382 shares issued, 26,671 and 24,998 shares outstanding at December 31, 2024 and December 31, 2023, respectively		267			254
Treasury stock at cost, zero⁽¹⁾and 384 shares at December 31, 2024 and December 31, 2023, respectively		—			(5,017	)
Additional paid-in capital		504,849			487,973
Accumulated deficit		(307,226	)		(290,440	)
Accumulated other comprehensive loss		(575	)		(1,115	)
Total stockholders’ equity		197,315			191,655
Total liabilities and stockholders’ equity	$	436,638		$	443,868
(1) The aggregate Treasury stock of prior repurchases of the Company’s own common stock was retired and subsequently issued effective January 1, 2024. See the Consolidated Statement of Changes in Stockholders’ Equity for the impact of this transaction.


ASURE SOFTWARE, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, except per share amounts)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2024			2023			2024			2023

Revenue:
Recurring	$	28,521		$	24,985		$	114,471		$	99,734
Professional services, hardware and other		2,271			1,279			5,321			19,348
Total revenue		30,792			26,264			119,792			119,082
Cost of sales		9,864			8,425			37,685			33,545
Gross profit		20,928			17,839			82,107			85,537
Operating expenses:
Sales and marketing		6,945			6,422			28,316			28,734
General and administrative		9,940			9,747			40,499			39,333
Research and development		2,103			1,739			7,807			6,846
Amortization of intangible assets		4,432			3,694			16,222			13,623
Total operating expenses		23,420			21,602			92,844			88,536
Loss from operations		(2,492	)		(3,763	)		(10,737	)		(2,999	)
Interest income		151			326			913			1,342
Interest expense		(362	)		(302	)		(1,024	)		(5,639	)
Loss on extinguishment of debt		—			—			—			(1,517	)
Other income (expense), net		(2	)		(1	)		8			(292	)
Loss from operations before income taxes		(2,705	)		(3,740	)		(10,840	)		(9,105	)
Income tax expense (benefit)		499			(158	)		933			109
Net loss		(3,204	)		(3,582	)		(11,773	)		(9,214	)
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities		(565	)		1,581			540			1,368
Comprehensive loss	$	(3,769	)	$	(2,001	)	$	(11,233	)	$	(7,846	)

Basic and diluted loss per share
Basic	$	(0.12	)	$	(0.14	)	$	(0.45	)	$	(0.42	)
Diluted	$	(0.12	)	$	(0.14	)	$	(0.45	)	$	(0.42	)

Weighted average basic and diluted shares
Basic		26,602			24,907			26,054			22,138
Diluted		26,602			24,907			26,054			22,138


ASURE SOFTWARE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)

	Year Ended December 31,
	2024			2023

Cash flows from operating activities:
Net loss	$	(11,773	)	$	(9,214	)
Adjustments to reconcile loss to net cash provided by operations:
Depreciation and amortization		22,142			19,135
Amortization of operating lease assets		1,386			1,481
Amortization of debt financing costs and discount		726			820
Non-cash interest expense		298			1,471
Net accretion of discounts and amortization of premiums on available-for-sale securities		(377	)		(119	)
Provision for expected losses		46			2,047
Provision for deferred income taxes		884			225
Loss on extinguishment of debt		—			990
Net realized gains on sales of available-for-sale securities		(2,609	)		(2,257	)
Share-based compensation		6,444			5,430
Loss on disposals of long-term assets		—			132
Change in fair value of contingent purchase consideration		—			175
Changes in operating assets and liabilities:
Accounts receivable		(3,998	)		(4,126	)
Inventory		(41	)		97
Prepaid expenses and other assets		(1,886	)		5,101
Operating lease right-of-use assets		—			546
Accounts payable		(1,206	)		376
Accrued expenses and other long-term obligations		(1,103	)		87
Operating lease liabilities		(1,555	)		(1,118	)
Deferred revenue		2,010			(2,379	)
Net cash provided by operating activities		9,388			18,900
Cash flows from investing activities:
Acquisition of intangible assets		(13,256	)		(7,651	)
Purchases of property and equipment		(692	)		(1,585	)
Software capitalization costs		(10,187	)		(7,027	)
Purchases of available-for-sale securities		(15,643	)		(27,647	)
Proceeds from sales and maturities of available-for-sale securities		20,522			14,385
Net cash used in investing activities		(19,256	)		(29,525	)
Cash flows from financing activities:
Proceeds from notes payable, net of issuance costs		4,995			—
Payments of notes payable		(420	)		(35,627	)
Debt extinguishment costs		—			(250	)
Net proceeds from issuance of common stock		1,370			46,800
Capital raise fees		(132	)		(338	)
Payments made on amounts due for the acquisition of intangibles		(1,513	)		(311	)
Net change in client fund obligations		(26,342	)		13,931
Net cash provided by (used in) financing activities		(22,042	)		24,205
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents		(31,910	)		13,580
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period		177,622			164,042
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	$	145,712		$	177,622


ASURE SOFTWARE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) (in thousands)

	Year Ended December 31,
	2024		2023

Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets
Cash and cash equivalents	$	21,425	$	30,317
Restricted cash and restricted cash equivalents included in funds held for clients		124,287		147,305
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	145,712	$	177,622

Supplemental information:
Cash paid for interest	$	—	$	3,140
Cash paid for income taxes	$	18	$	432

Non-cash investing and financing activities:
Acquisition of intangible assets	$	5,338	$	357
Notes payable issued for acquisitions	$	3,107	$	1,209
Shares issued for acquisitions	$	9,125	$	2,543


ASURE SOFTWARE, INC. RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES (unaudited)

(in thousands)	Q4-24			Q3-24			Q2-24			Q1-24			Q4-23			Q3-23			Q2-23			Q1-23
Revenue⁽¹⁾	$	30,792		$	29,304		$	28,044		$	31,652		$	26,264		$	29,334		$	30,420		$	33,064

Gross Profit to non-GAAP Gross Profit
Gross Profit	$	20,928		$	19,704		$	18,868		$	22,607		$	17,839		$	21,280		$	22,018		$	24,400
Gross Margin		68.0	%		67.2	%		67.3	%		71.4	%		67.9	%		72.5	%		72.4	%		73.8	%

Share-based Compensation		44			44			43			40			32			28			46			31
Depreciation		1,190			1,232			1,145			1,110			921			984			1,309			1,009
Amortization – intangibles		50			50			50			50			50			50			50			268
One-time expenses
Settlements, penalties & interest		25			2			3			—			(6	)		8			—			4
Acquisition and transaction costs		221			367			264			39			—			—			—			—
Other non-recurring expenses		84			—			—			—			—			—			—			—
Non-GAAP Gross Profit	$	22,542		$	21,399		$	20,373		$	23,846		$	18,836		$	22,350		$	23,423		$	25,712
Non-GAAP Gross Margin		73.2	%		73.0	%		72.6	%		75.3	%		71.7	%		76.2	%		77.0	%		77.8	%

Sales and Marketing Expense to non-GAAP Sales and Marketing Expense
Sales and Marketing Expense	$	6,945		$	6,680		$	6,924		$	7,767		$	6,422		$	6,597		$	8,515		$	7,200

Share-based Compensation		251			269			237			243			180			210			149			124
Depreciation		—			1			—			1			1			—			—			—
One-time expenses
Settlements, penalties & interest		78			(5	)		5			18			6			30			4			11
Acquisition and transaction costs		9			68			37			11			—			—			—			—
Other non-recurring expenses		52			—			—			—			—			—			180			—
Non-GAAP Sales and Marketing Expense	$	6,555		$	6,347		$	6,645		$	7,494		$	6,235		$	6,357		$	8,182		$	7,065

General and Administrative Expense to non-GAAP General and Administrative Expense
General and Administrative Expense	$	9,940		$	10,378		$	10,118		$	10,063		$	9,747		$	9,294		$	10,336		$	9,956

Share-based Compensation		1,081			1,187			1,122			1,535			980			936			1,298			1,142
Depreciation		269			264			256			251			225			200			234			210
One-time expenses
Settlements, penalties & interest		142			377			304			98			284			101			432			102
Acquisition and transaction costs		282			371			245			57			51			—			—			—
Other non-recurring expenses		220			253			—			86			53			—			453			—
Non-GAAP General and Administrative Expense	$	7,946		$	7,926		$	8,191		$	8,036		$	8,154		$	8,057		$	7,919		$	8,502

Research and Development Expense to non-GAAP Research and Development Expense
Research and Development Expense	$	2,103		$	1,973		$	1,962		$	1,769		$	1,739		$	1,803		$	1,325		$	1,979

Share-based Compensation		87			90			86			85			69			76			89			40
One-time expenses
Settlements, penalties & interest		21			—			27			31			—			—			—			—
Acquisition and transaction costs		153			195			369			147			—			—			—			—
Other non-recurring expenses		29			—			—			—			—			—			—			—
Non-GAAP Research and Development Expense	$	1,813		$	1,688		$	1,480		$	1,506		$	1,670		$	1,727		$	1,236		$	1,939

⁽¹⁾Note that first quarters are seasonally strong as recurring year-end W2/ACA revenue is recognized in this period.


ASURE SOFTWARE, INC. RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES (cont.) (unaudited)

(in thousands)	Q4-24			Q3-24			Q2-24			Q1-24			Q4-23			Q3-23			Q2-23			Q1-23
Revenue⁽¹⁾	$	30,792		$	29,304		$	28,044		$	31,652		$	26,264		$	29,334		$	30,420		$	33,064

GAAP Net (Loss) Income to Adjusted EBITDA
GAAP Net (Loss) Income	$	(3,204	)	$	(3,901	)	$	(4,360	)	$	(308	)	$	(3,582	)	$	(2,206	)	$	(3,765	)	$	339

Interest expense, net		211			109			(53	)		(156	)		(24	)		782			1,593			1,944
Income taxes		499			170			231			33			(158	)		(123	)		627			(237	)
Depreciation		1,460			1,497			1,402			1,361			1,148			1,185			1,542			1,219
Amortization – intangibles		4,482			4,345			4,096			3,499			3,743			3,384			3,343			3,570
EBITDA	$	3,448		$	2,220		$	1,316		$	4,429		$	1,127		$	3,022		$	3,340		$	6,835
EBITDA Margin		11.2	%		7.6	%		4.7	%		14.0	%		4.3	%		10.3	%		11.0	%		20.7	%

Share-based Compensation		1,463			1,591			1,488			1,902			1,260			1,251			1,582			1,337
One Time Expenses
Settlements, penalties & interest		266			375			339			147			283			140			436			117
Acquisition and transaction costs		665			1,001			914			254			51			—			—			—
Other non-recurring expenses		385			253			—			86			53			—			633			—
Other expense (income), net		2			—			—			(10	)		1			1,800			93			(83	)
Adjusted EBITDA	$	6,229		$	5,440		$	4,057		$	6,808		$	2,775		$	6,213		$	6,084		$	8,206
Adjusted EBITDA Margin		20.2	%		18.6	%		14.5	%		21.5	%		10.6	%		21.2	%		20.0	%		24.8	%

⁽¹⁾Note that first quarters are seasonally strong as recurring year-end W2/ACA revenue is recognized in this period.

Investor Relations Contact
Patrick McKillop
Vice President, Investor Relations
617-335-5058
patrick.mckillop@asuresoftware.com

The MIL Network –

March 7, 2025

MIL-OSI: FormFactor Partners with Delft Circuits to Revolutionize Quantum Computing Interfacing
Source: GlobeNewswire (MIL-OSI)

LIVERMORE, Calif., March 06, 2025 (GLOBE NEWSWIRE) — FormFactor, Inc. (NASDAQ: FORM), a leader in precision test and measurement solutions, and Delft Circuits, an innovator in high-density cryogenic cabling solutions, have teamed up to integrate Delft Circuits’ Cri/oFlex® product portfolio into FormFactor’s cryogenic test systems. This partnership addresses the growing demand for scalable, high-density interconnect solutions in quantum computing, enabling the industry to meet growing demands for computation power and efficient system interfacing.

As quantum technology continues to evolve, systems must support higher channel densities to meet increasing computational requirements. FormFactor’s systems, currently equipped with 12 ISO-100 ports supporting up to 300 channels, will now integrate Delft Circuits’ high-density Cri/oFlex® cabling. This partnership enables up to 160 channels per port, with a total of 1920 channels, improving the overall performance and scalability of quantum systems, especially in environments where space and efficiency are critical.

“Delft Circuits’ technology perfectly complements our systems, allowing us to offer our customers some of the highest channel densities in the industry while maintaining the precision and reliability FormFactor is known for,” said Thomas Fries, VP and GM, Emerging Growth Business Unit, FormFactor.

Key Benefits of the Partnership:
- Increased Channel Density: Delft Circuit’s Cri/oFlex® cabling provides up to 160 channels per port, enabling 1920 channels in total—driving the scalability needed for next-generation quantum computers.
- Tailored for Space-Constrained Environments: Designed specifically for high-density interfacing in compact quantum computing fridges, facilitating seamless integration in limited spaces.
- Scalable Pathway for Growth: Initial support for 80-160 channels with mK node and SMP-SMP jumpers, with future scalability to meet accelerating roadmaps.
“Our partnership with FormFactor underscores the value of Cri/oFlex® technology in addressing the critical needs of quantum computing infrastructures. We are excited to bring our expertise to their robust portfolio and help advance the industry’s progress,” said Daan Kuitenbrouwer, Chief Commercial Officer and Founder at Delft Circuits.

The collaboration is ideally positioned to transform quantum computing interfacing by offering a comprehensive solution that combines precision measurement with cutting-edge cabling technology—accelerating the scalability and reliability of next-generation quantum systems for researchers, developers, manufacturers, and infrastructure providers alike.

About FormFactor
FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

About Delft Circuits
Delft Circuits is a leading provider of dedicated quantum hardware, dedicated to supplying the best hardware for the quantum engineer and industry. With a focus on designing and developing i/o cabling solutions, the company has established itself as a trusted partner for leading national laboratories, blue-chip corporations, and ambitious professors. With a beachhead market in the quantum industry, Delft Circuits has already realized hundreds of i/o modules for almost a hundred customers. As an independent, dedicated quantum hardware supplier, the company is committed to pioneering i/o for advanced technologies. Delft Circuits proprietary cabling solutions were referenced by DARPA as the world’s state of the art. Investors in Delft Circuits include QuVest Capital, Scholt Group and High Tech Gründerfonds (HTGF). For more information, please visit: https://www.delft-circuits.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws. These statements are based on management’s current expectations and beliefs as of the date of this release, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the impact of this new partnership. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” and “continue,” the negative or plural of these words and similar expressions, and include the assumptions that underlie such statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunity; anticipated industry trends; the availability, benefits, and speed of customer acceptance or implementation of new products and technologies; and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. In addition, there are varying barriers to international trade, including restrictive trade and export regulations such as the US-China restrictions, dynamic tariffs, trade disputes between the U.S. and other countries, and national security developments or tensions, that may substantially restrict or condition our sales to or in certain countries, increase the cost of doing business internationally, and disrupt our supply chain. No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise.

FormFactor Investor Contact
Stan Finkelstein
Investor Relations
(925) 290-4273
ir@formfactor.com

The MIL Network –
March 7, 2025

MIL-OSI: Fidus Investment Corporation Announces Fourth Quarter and Full Year 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

Board of Directors Declared Total Dividends of $0.54 per Share for First Quarter 2025

Base Dividend of $0.43 and Supplemental Dividend of $0.11 Per Share

EVANSTON, Ill, March 06, 2025 (GLOBE NEWSWIRE) — Fidus Investment Corporation (NASDAQ:FDUS) (“Fidus” or the “Company”), a provider of customized debt and equity financing solutions, primarily to lower middle-market companies based in the United States, today announced its financial results for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter 2024 Financial Highlights

Total investment income of $37.5 million
Net investment income of $18.6 million, or $0.55 per share
Adjusted net investment income of $18.4 million, or $0.54 per share⁽¹⁾
Invested $120.3 million in debt and equity securities, including five new portfolio companies
Received proceeds from repayments and realizations of $122.8 million
Paid total dividends of $0.61 per share: regular quarterly dividend of $0.43 and supplemental dividend of $0.18 per share on December 27, 2024
Net asset value (“NAV”) of $655.7 million, or $19.33 per share, as of December 31, 2024

Full Year 2024 Financial Highlights

Total investment income of $146.1 million
Net investment income of $74.6 million, or $2.29 per share
Adjusted net investment income of $75.4 million, or $2.31 per share⁽¹⁾
Invested $394.5 million in debt and equity securities, including 16 new portfolio companies
Received proceeds from repayments and realizations of $276.9 million
Paid total dividends of $2.42 per share: regular quarterly dividends totaling $1.72 and supplemental dividends of $0.70 per share
Estimated spillover income (or taxable income in excess of distributions) as of December 31, 2024 of $45.6 million, or $1.34 per share

Management Commentary

“During the fourth quarter and fiscal year 2024, we extended our track record of growing our portfolio while maintaining sound credit quality overall by adhering to our proven strategy of investing in debt and equity investments,” said Edward Ross, Chairman and CEO of Fidus Investment Corporation. “Originations for the year exceeded repayments and realizations resulting in a 13.8% increase in assets under management on a fair value basis. Our portfolio generated 11.6% higher adjusted net investment income and produced $11.6 million of net realized gains. In 2024, we distributed a total of $2.42 per share to our shareholders. For 2025, we remain committed to our strategy and our goals of growing net asset value over time, preserving capital and delivering attractive risk-adjusted returns to our shareholders.”

(1) Supplemental information regarding adjusted net investment income:

On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The management agreement with our investment adviser provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses. In addition, we accrue, but do not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. As such, we believe that adjusted net investment income is a useful indicator of operations exclusive of any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of net investment income to adjusted net investment income are set forth in Schedule 1.

Fourth Quarter 2024 Financial Results

The following table provides a summary of our operating results for the three months ended December 31, 2024, as compared to the same period in 2023 (dollars in thousands, except per share data):


	Three Months Ended December 31,
	2024		2023		$ Change			% Change
Interest income	$	31,651	$	29,511	$	2,140			7.3	%
Payment-in-kind interest income		2,095		1,973		122			6.2	%
Dividend income		104		265		(161	)		(60.8	%)
Fee income		2,998		3,522		(524	)		(14.9	%)
Interest on idle funds		609		1,040		(431	)		(41.4	%)
Total investment income	$	37,457	$	36,311	$	1,146			3.2	%

Net investment income	$	18,648	$	16,939	$	1,709			10.1	%
Net investment income per share	$	0.55	$	0.58	$	(0.03	)		(5.2	%)

Adjusted net investment income⁽¹⁾	$	18,437	$	18,837	$	(400	)		(2.1	%)
Adjusted net investment income per share⁽¹⁾	$	0.54	$	0.65	$	(0.11	)		(16.9	%)

Net increase (decrease) in net assets resulting from operations	$	17,593	$	26,430	$	(8,837	)		(33.4	%)
Net increase (decrease) in net assets resulting from operations per share	$	0.52	$	0.91	$	(0.39	)		(42.9	%)

The $1.1 million increase in total investment income for the three months ended December 31, 2024, as compared to the same period in 2023 was primarily attributable to (i) a $2.3 million increase in total interest income (which includes payment-in-kind interest income) resulting from an increase in average debt investment balances outstanding, partially offset by a decrease in weighted average yield on debt investment balances outstanding, (ii) a $0.2 million decrease in dividend income due to decreased levels of distributions received from equity investments, (iii) a $0.5 million decrease in fee income resulting from a decrease in origination fees, partially offset by an increase in amendment and administrative fees, and (iv) a $0.4 million decrease in interest on idle funds due to a decrease in weighted average cash balances outstanding.

For the three months ended December 31, 2024, total expenses, including the base management fee waiver and income tax provision, were $18.8 million, a decrease of $0.6 million, or (2.9%) from the $19.4 million of total expenses, including the base management fee waiver and income tax provision, for the three months ended December 31, 2023. The decrease was primarily attributable to (i) a $0.3 million increase in interest and financing expenses, (ii) a $0.6 million net increase in base management fee, including the base management fee waiver, due to higher average total assets, (iii) a $0.1 million decrease in the income incentive fee and a $2.1 million decrease in capital gains incentive fee accrued, (iv) a $0.1 million decrease in professional fees, and (v) a $0.8 million increase in income tax provision.

Net investment income increased by $1.7 million, or 10.1%, to $18.6 million during the three months ended December 31, 2024 as compared to the same period in 2023, as a result of the $1.1 million increase in total investment income and the $0.6 million decrease in total expenses, including base management fee waiver and income tax provision. Adjusted net investment income,⁽¹⁾ which excludes the capital gains incentive fee accrual, was $0.54 per share compared to $0.65 per share in the prior year.

For the three months ended December 31, 2024, the total net realized gain/(loss) on investments, net of income tax (provision)/benefit on realized gains, was $(0.5) million, as compared to total net realized gain/(loss) on investments, net of income tax (provision)/benefit on realized gains, of $19.7 million for the same period in 2023.

Full Year 2024 Financial Results
The following table provides a summary of our operating results for the year ended December 31, 2024 as compared to the same period in 2023 (dollars in thousands, except per share data):

	Years Ended December 31,
	2024		2023		$ Change			% Change
Interest income	$	123,153	$	109,947	$	13,206			12.0	%
Payment-in-kind interest income		7,840		6,634		1,206			18.2	%
Dividend income		2,242		1,215		1,027			84.5	%
Fee income		9,572		9,450		122			1.3	%
Interest on idle funds		3,347		2,864		483			17	%
Total investment income	$	146,154	$	130,110	$	16,044			12.3	%

Net investment income	$	74,636	$	65,106	$	9,530			14.6	%
Net investment income per share	$	2.29	$	2.47	$	(0.18	)		(7.3	%)

Adjusted net investment income⁽¹⁾	$	75,367	$	67,511	$	7,856			11.6	%
Adjusted net investment income per share⁽¹⁾	$	2.31	$	2.56	$	(0.25	)		(9.8	%)

Net increase in net assets resulting from operations	$	78,292	$	77,133	$	1,159			1.5	%
Net increase in net assets resulting from operations per share	$	2.40	$	2.93	$	(0.53	)		(18.1	%)

The $16.0 million increase in total investment income for the year ended December 31, 2024 as compared to the same period in 2023 was primarily attributable to (i) a $14.4 million increase in total interest income resulting from an increase in average debt investment balances outstanding, partially offset by lower weighted average yield on debt investment balances outstanding, (ii) a $1.0 million increase in dividend income due to increased levels of distributions received from equity investments, (iii) a $0.1 million increase in fee income resulting from an increase in amendment and administrative fees, partially offset by a decrease in origination, management, and prepayment fees, and (iv) a $0.5 million increase in interest on idle funds due to an increase in average cash balances outstanding.

For the year ended December 31, 2024, total expenses, including the base management waiver and income tax provision, were $71.5 million, an increase of $6.5 million or 10.0%, from the $65.0 million of total expenses, including income tax provision, for the year ended December 31, 2023. The increase was primarily attributable to (i) a $1.7 million increase in interest and financing expenses, (ii) a $2.6 million net increase in base management fee, including the base management fee waiver, due to higher average total assets, (iii) a $2.0 million increase in income incentive fees, partially offset by a $1.7 million decrease in capital gains incentive fees, (iv) a $0.2 million increase in professional fees, and (v) a $1.4 million increase in income tax provision.

Net investment income increased by $9.5 million, or 14.6%, to $74.6 million during the year ended December 31, 2024 as compared to the same period in 2023, as a result of the $16.0 million increase in total investment income, partially offset by the $6.5 million increase in total expenses, including the base management fee waiver and income tax provision. Adjusted net investment income,⁽¹⁾ which excludes the capital gains incentive fee accrual, increased by $7.9 million, or 11.6%, to $75.4 million.

For the year ended December 31, 2024, the total net realized gain on investments, net of income tax provision on realized gains, was $10.1 million, as compared to total net realized gain on investments, net of income tax provision on realized gains, of $22.4 million for the same period in 2023.

Portfolio and Investment Activities

As of December 31, 2024, the fair value of our investment portfolio totaled $1.1 billion and consisted of 87 active portfolio companies and four portfolio companies that have sold their underlying operations. Our total portfolio investments at fair value were approximately 101.4% of the related cost basis as of December 31, 2024. As of December 31, 2024, the debt investments of 50 portfolio companies bore interest at a variable rate, which represented $704.0 million, or 74.5%, of our debt investment portfolio on a fair value basis, and the remainder of our debt investment portfolio was comprised of fixed rate investments. As of December 31, 2024, our average active portfolio company investment at amortized cost was $12.4 million, which excludes investments in four portfolio companies that have sold their underlying operations. The weighted average yield on debt investments was 13.3% as of December 31, 2024. The weighted average yield was computed using the effective interest rates for debt investments at cost as of December 31, 2024, including the accretion of original issue discounts and loan origination fees, but excluding investments on non-accrual status and investments recorded as a secured borrowing, if any.

Fourth quarter 2024 investment activity included the following new portfolio company investments:

Axis Medical Technologies LLC (dba MoveMedical), a leading provider of last-mile supply chain software solutions to medical device OEMs. Fidus invested $14.8 million in first lien debt and preferred equity and made additional commitments up to $0.8 million in first lien debt.
CP Communications, LLC, a provider of specialized technology solutions for live event broadcasters and premium video content producers. Fidus invested $8.4 million in first lien debt, subordinated debt and common equity.
Estex Manufacturing Company, LLC, a branded manufacturer of sewn products used in the utility, airline / aerospace, sports, and military end markets. Fidus invested $6.3 million in first lien debt and common equity.
Fumex, LLC, a leading provider of fume extraction and air filtration systems for industrial manufacturing applications. Fidus invested $7.4 million in first lien debt and common equity.
World Tours LLC, a travel tour operator focused on affinity groups in the United States. Fidus invested $7.0 million in first lien debt and preferred equity.

Liquidity and Capital Resources

As of December 31, 2024, we had $57.2 million in cash and cash equivalents and $95.0 million of unused capacity under our senior secured revolving credit facility (the “Credit Facility”). In 2024, we received net proceeds of $66.3 million from the equity at-the-market program (the “ATM Program”). As of December 31, 2024, we had SBA debentures outstanding of $175.0 million, $125.0 million outstanding of our 4.75% notes due January 2026 (the “January 2026 Notes”) and $125.0 million outstanding of our 3.50% notes due November 2026 (the “November 2026 Notes” and collectively with the January 2026 Notes the “Notes”). As of December 31, 2024, the weighted average interest rate on total debt outstanding was 4.6%.

Subsequent Events

On January 6, 2025, we invested $15.0 million in first lien debt and $0.8 million in common equity of Customer Expressions Corp. (dba Case IQ), a leading of SaaS-based Governance, Risk and Compliance (GRC) solutions to mid-size and large enterprises.

On January 7, 2025, we invested $19.0 million in first lien debt, $0.4 million in common equity, and committed up to $2.3 million in a revolving loan to Onsight Industries, LLC, a leading provider of customized signs & displays, mailbox solutions, and site furnishings for the home builder and land developer industries.

On January 14, 2025, we exited our preferred equity investment in Healthfuse, LLC. We received a distribution on our preferred equity investment for a realized gain of approximately $3.2 million.

On January 24, 2025, we received a distribution on our equity investments in Medsurant Holdings, LLC, resulting in a net realized gain of approximately $8.2 million.

On February 5, 2025, we invested $14.0 million in first lien debt, $0.5 million in common equity, $0.1 million in preferred equity, and committed up to $2.0 million in a revolving loan to Fraser Steel LLC, a designer and manufacturer of steel tubular parts and assemblies for OEM customers used in a wide range of applications.

On February 6, 2025, we issued an additional $5.0 million in SBA debentures, which will bear interest at a fixed interim interest rate of 5.207% until the pooling date in March 2025.

On February 13, 2025, we issued an additional $14.5 million in SBA debentures, which will bear interest at a fixed interim interest rate of 5.217% until the pooling date in March 2025.

On February 27, 2025, we repaid $12.5 million of SBA debentures with a weighted average interest rate of 5.755% which would have matured on dates ranging from March 2032 to September 2033.

First Quarter 2025 Dividends Totaling $0.54 Per Share Declared

On February 18, 2025, our board of directors declared a base dividend of $0.43 per share and a supplemental dividend of $0.11 per share for the first quarter. The dividends will be payable on March 27, 2025, to stockholders of record as of March 20, 2025.

When declaring dividends, our board of directors reviews estimates of taxable income available for distribution, which differs from consolidated income under GAAP due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of undistributed taxable income carried over from a given year for distribution in the following year. The final determination of 2025 taxable income, as well as the tax attributes for 2025 dividends, will be made after the close of the 2025 tax year. The final tax attributes for 2025 dividends will generally include ordinary taxable income but may also include capital gains, qualified dividends and return of capital.

Fidus has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when we declare a cash dividend, stockholders who have not “opted out” of the DRIP at least two days prior to the dividend payment date will have their cash dividends automatically reinvested in additional shares of our common stock. Those stockholders whose shares are held by a broker or other financial intermediary may receive dividends in cash by notifying their broker or other financial intermediary of their election.

Fourth Quarter 2024 Financial Results Conference Call

Management will host a conference call to discuss the operating and financial results at 9:00am ET on Friday, March 7, 2025. To participate in the conference call, please dial (844) 808-7136 approximately 10 minutes prior to the call. International callers should dial (412) 317-0534. Please ask to be joined into the Fidus Investment Corporation call.

A live webcast of the conference call will be available at http://investor.fdus.com/news-events/events-presentations. Please access the website 15 minutes prior to the start of the call to download and install any necessary audio software. An archived replay of the conference call will also be available in the investor relations section of the Company’s website.

ABOUT FIDUS INVESTMENT CORPORATION

Fidus Investment Corporation provides customized debt and equity financing solutions to lower middle-market companies, which management generally defines as U.S. based companies with revenues between $10 million and $150 million. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from debt investments and capital appreciation from equity related investments. Fidus seeks to partner with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.

Fidus is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. In addition, for tax purposes, Fidus has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Fidus was formed in February 2011 to continue and expand the business of Fidus Mezzanine Capital, L.P., which commenced operations in May 2007 and is licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC).

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements which are based upon current expectations and are inherently uncertain, including, but not limited to, statements about the future performance and financial condition of the Company, the prospects of our existing and prospective portfolio companies, the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives, and the timing, form and amount of any distributions or supplemental dividends in the future. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, such as changes in the financial and lending markets, the impact of the general economy (including an economic downturn or recession), and the impact of interest rate volatility and the impact of elevated levels of inflation on the Company’s business and its portfolio companies; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future as a result of a number of factors related to changes in the markets in which the Company invests, changes in the financial, capital, and lending markets, and other factors described from time to time in the Company’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and are based on information available to the Company as of the date hereof and are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update any such statement now or in the future, except as required by applicable law.

FIDUS INVESTMENT CORPORATION Consolidated Statements of Assets and Liabilities (in thousands, except shares and per share data)

	December 31,		December 31,
	2024		2023
ASSETS
Investments, at fair value:
Control investments (cost: $6,832 and $6,832, respectively)	$	—	$	—
Affiliate investments (cost: $56,679 and $46,485, respectively)		102,024		83,876
Non-control/non-affiliate investments (cost: $1,011,646 and $883,312, respectively)		988,482		874,030
Total investments, at fair value (cost: $1,075,157 and $936,629, respectively)		1,090,506		957,906
Cash and cash equivalents		57,159		119,131
Interest receivable		15,119		11,965
Prepaid expenses and other assets		1,328		1,896
Total assets	$	1,164,112	$	1,090,898
LIABILITIES
SBA debentures, net of deferred financing costs	$	168,899	$	204,472
Notes, net of deferred financing costs		248,362		247,243
Borrowings under Credit Facility, net of deferred financing costs		43,954		(1,082	)
Secured borrowings		13,674		15,880
Accrued interest and fees payable		5,784		5,924
Base management fee payable, net of base management fee waiver – due to affiliate		4,805		4,151
Income incentive fee payable – due to affiliate		4,477		4,570
Capital gains incentive fee payable – due to affiliate		14,703		17,509
Administration fee payable and other, net – due to affiliate		919		789
Taxes payable		1,850		1,227
Accounts payable and other liabilities		1,019		741
Total liabilities	$	508,446	$	501,424
Commitments and contingencies
NET ASSETS
Common stock, $0.001 par value (100,000,000 shares authorized, 33,914,652 and 30,438,979 shares
issued and outstanding at December 31, 2024 and December 31, 2023, respectively)	$	34	$	31
Additional paid-in capital		567,159		504,087
Total distributable earnings		88,473		85,356
Total net assets		655,666		589,474
Total liabilities and net assets	$	1,164,112	$	1,090,898
Net asset value per common share	$	19.33	$	19.37

FIDUS INVESTMENT CORPORATION Consolidated Statements of Operations (unaudited) (in thousands, except shares and per share data)

	Three Months Ended						Years Ended
	December 31,						December 31,
	2024			2023			2024			2023
Investment Income:
Interest income
Control investments	$	—		$	—		$	—		$	—
Affiliate investments		930			858			3,533			4,026
Non-control/non-affiliate investments		30,721			28,653			119,620			105,921
Total interest income		31,651			29,511			123,153			109,947
Payment-in-kind interest income
Control investments		—			—			—			—
Affiliate investments		9			—			9			—
Non-control/non-affiliate investments		2,086			1,973			7,831			6,634
Total payment-in-kind interest income		2,095			1,973			7,840			6,634
Dividend income
Control investments		—			—			—			—
Affiliate investments		—			—			1,830			519
Non-control/non-affiliate investments		104			265			412			696
Total dividend income		104			265			2,242			1,215
Fee income
Control investments		—			—			—			—
Affiliate investments		168			5			183			65
Non-control/non-affiliate investments		2,830			3,517			9,389			9,385
Total fee income		2,998			3,522			9,572			9,450
Interest on idle funds		609			1,040			3,347			2,864
Total investment income		37,457			36,311			146,154			130,110
Expenses:
Interest and financing expenses		6,298			5,988			24,398			22,749
Base management fee		4,869			4,222			18,855			16,288
Incentive fee – income		4,477			4,570			18,549			16,529
Incentive fee (reversal) – capital gains		(211	)		1,898			731			2,405
Administrative service expenses		704			681			2,598			2,353
Professional fees		739			862			3,208			2,906
Other general and administrative expenses		239			258			1,003			1,031
Total expenses before base management fee waiver		17,115			18,479			69,342			64,261
Base management fee waiver		(64	)		(71	)		(264	)		(287	)
Total expenses, net of base management fee waiver		17,051			18,408			69,078			63,974
Net investment income before income taxes		20,406			17,903			77,076			66,136
Income tax provision (benefit)		1,758			964			2,440			1,030
Net investment income		18,648			16,939			74,636			65,106
Net realized and unrealized gains (losses) on investments:
Net realized gains (losses):
Control investments		—			—			—			(11,458	)
Affiliate investments		134			446			134			546
Non-control/non-affiliate investments		(710	)		19,358			11,451			34,983
Total net realized gain (loss) on investments		(576	)		19,804			11,585			24,071
Income tax (provision) benefit from realized gains on investments		43			(93	)		(1,480	)		(1,662	)
Net change in unrealized appreciation (depreciation):
Control investments		—			—			—			11,083
Affiliate investments		7,537			714			7,954			(8,395	)
Non-control/non-affiliate investments		(8,059	)		(10,934	)		(13,882	)		(13,047	)
Total net change in unrealized appreciation (depreciation) on investments		(522	)		(10,220	)		(5,928	)		(10,359	)
Net gain (loss) on investments		(1,055	)		9,491			4,177			12,050
Realized losses on extinguishment of debt		—			—			(521	)		(23	)
Net increase (decrease) in net assets resulting from operations	$	17,593		$	26,430		$	78,292		$	77,133
Per common share data:
Net investment income per share-basic and diluted	$	0.55		$	0.58		$	2.29		$	2.47
Net increase in net assets resulting from operations per share — basic and diluted	$	0.52		$	0.91		$	2.40		$	2.93
Dividends declared per share	$	0.61		$	0.80		$	2.42		$	2.88
Weighted average number of shares outstanding — basic and diluted		33,914,652			28,961,411			32,585,238			26,365,269

Schedule 1

Supplemental Information Regarding Adjusted Net Investment Income

On a supplemental basis, we provide information relating to adjusted net investment income, which is a non-GAAP measure. This measure is provided in addition to, but not as a substitute for, net investment income. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The management agreement with our investment advisor provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses for such year, less the aggregate amount of any capital gains incentive fees paid in all prior years. In addition, we accrue, but do not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. As such, we believe that adjusted net investment income is a useful indicator of operations exclusive of any capital gains incentive fee expense or (reversal) attributable to realized and unrealized gains and losses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. The following table provides a reconciliation of net investment income to adjusted net investment income for the three and twelve months ended December 31, 2024 and 2023.

	($ in thousands)					($ in thousands)
	Three Months Ended					Years Ended
	December 31,					December 31,
	(unaudited)					(unaudited)
	2024			2023		2024		2023
Net investment income	$	18,648		$	16,939	$	74,636	$	65,106
Capital gains incentive fee expense (reversal)		(211	)		1,898		731		2,405
Adjusted net investment income⁽¹⁾	$	18,437		$	18,837	$	75,367	$	67,511

	(Per share)					(Per share)
	Three Months Ended					Years Ended
	December 31,					December 31,
	(unaudited)					(unaudited)
	2024			2023		2024		2023
Net investment income	$	0.55		$	0.58	$	2.29	$	2.47
Capital gains incentive fee expense (reversal)		(0.01	)		0.07		0.02		0.09
Adjusted net investment income⁽¹⁾	$	0.54		$	0.65	$	2.31	$	2.56

(1)

Adjusted net investment income per share amounts are calculated as adjusted net investment income dividend by weighted average shares outstanding for the period. Due to rounding, the sum of net investment income per share and capital gains incentive fee expense (reversal) amounts may not equal the adjusted net investment income per share amount presented here.

Company Contact:	Investor Relations Contact:
Shelby E. Sherard	Jody Burfening
Chief Financial Officer	Alliance Advisors IR
(847) 859-3940	(212) 838-3777
ssherard@fidusinv.com	jburfening@allianceadvisors.com

The MIL Network –

March 7, 2025

MIL-OSI: Global-e to Host 2025 Investor Day

Source: GlobeNewswire (MIL-OSI)

PETAH-TIKVA, Israel, March 06, 2025 (GLOBE NEWSWIRE) — Global-e (Nasdaq: GLBE), the platform powering global direct-to-consumer e-commerce, today announced it will host its 2025 Investor Day on Tuesday, March 11, 2025, beginning at 9:30 a.m. ET.

A live webcast of the event will be available in the Investor Relations section of Global-e’s website at https://investors.global-e.com/news-events/events-presentations. A replay of the webcast will also be available on the website after the event.

About Global-e Online Ltd.

Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,000 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

Investor Contact:
Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
IR@global-e.com
+1 617-542-6180

Press Contact:
Sarah Schloss
Headline Media
sarah.schloss@headline.media
+1 914-506-5104

The MIL Network –

March 7, 2025
MIL-OSI: Five Star Bank Appoints Eric Marks Chief Consumer Banking Officer

Source: GlobeNewswire (MIL-OSI)

WARSAW, N.Y., March 06, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank (“Five Star” or the “Bank”) and Courier Capital, LLC, announced that Eric W. Marks has joined as Senior Vice President, Chief Consumer Banking Officer of the Bank.

As Chief Consumer Banking Officer, Mr. Marks will have executive leadership and strategic oversight of the Bank’s consumer lines of business, including Retail Banking, Residential Mortgage, and Small Business Banking, as well as its Customer Contact Center and Collections departments. Mr. Marks’ deep banking experience, which includes many facets of consumer banking leadership, financial oversight and strategic planning, will serve him well as he looks to drive sustainable customer growth and customer-service excellence in Five Star’s retail network and its 49 banking locations across Western and Central New York. Mr. Marks will report to President and CEO Martin K. Birmingham and join the Company’s Executive Management Committee.

“We are thrilled to welcome Eric Marks to Five Star Bank,” said Mr. Birmingham. “His deep understanding of all aspects of consumer banking, as well as his local roots and familiarity with our markets, will be very valuable as he supports the continued evolution, growth and, ultimately, the long-term success of our consumer banking offerings.”

Mr. Marks commented, “I am excited to join a community bank like Five Star, which has a deep history here in Upstate New York. I look forward to being a part of its continued success as we focus on delivering a simple, connected and trusted banking experience in our markets, and helping our customers and communities thrive.”

Mr. Marks joins Five Star from M&T Bank, where he had most recently served as its Retail Segment Chief Financial Officer. During his 19-year tenure at M&T, Mr. Marks held roles of increasing responsibility in several enterprise functions and lines of business, including corporate and consumer strategy, mortgage, branch distribution planning, consumer deposit pricing and portfolio management, as well as consumer indirect lending.

Mr. Marks, who is based at Five Star Bank Centre in Amherst, N.Y., earned his bachelor’s degree from Mercyhurst University and his M.B.A. from the University at Buffalo. He has also completed an executive leadership course at the University of Michigan’s Ross School of Business. Mr. Marks has a long history of community volunteerism, previously serving on the boards of the Orchard Park Little League, the Orchard Park Boys and Girls Club, Western New York Heritage Press, and more.

About Financial Institutions, Inc. and Five Star Bank
Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.1 billion in assets as of December 31, 2024, offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

Safe Harbor Statement
This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “believe,” “anticipate,” “continue,” “estimate,” “expect,” “focus,” “”intend,” “may,” “plan,” “preliminary,” “should,” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; inflation; changes in deposit flows and the cost and availability of funds; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC, could adversely affect us and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; and general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to the impact of a pandemic or global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

For additional information contact:
Kate Croft
Director, Investor and External Relations
716-817-5159
klcroft@five-starbank.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45b81392-4098-491e-a8f4-0824ccb09934

The MIL Network –

March 7, 2025
MIL-OSI Banking: Verizon tells customers to put the phone down
Source: Verizon

Headline: Verizon tells customers to put the phone down

NEW YORK – With the average Verizon home internet household boasting 18 connected devices and counting, Verizon recognizes the increasing challenge of managing screen time and its impact on overall well-being. That’s why, today, at the first-ever Verizon Digital Wellness Summit hosted by Drew Barrymore, Verizon is unveiling a series of initiatives aimed at promoting healthy digital habits for families.

“Building healthy habits in our digital lives is essential for overall well-being. Verizon is empowering families to have peace of mind around their children’s online lives by providing resources and tools that promote digital safety – and encouraging kids to put the phones down from time to time,” said Sampath, CEO, Verizon Consumer. “We’re committed to making sure that technology enhances our lives, rather than detracts from them, and our new initiatives are a significant step in that direction.”

Addressing the Digital Dilemma Head-On with Strategic Partnerships and Programs:
- Discovery Education: Collaborating on a new Digital Citizenship Initiative to provide K-12 students with free tools, resources and skills needed to thrive in today’s digital world. Content is free on the website and to classrooms within the Discovery Education Experience, an essential K-12 companion for engaged classrooms.
- Sesame Workshop: Conducting a research study with the Joan Ganz Cooney Center focused on digital well-being of children during key developmental ages of 8 to 12. The findings will address challenges families face with technology use and guide the creation of future digital wellness programs.
- My Digital TAT2: Partnering to offer free workshops in select Verizon retail stores for parents and caregivers, providing tools to foster children’s digital wellness and navigate emerging tech trends.
- Older Adults Technology Services (OATS) from AARP: Developing a new digital wellness course for older adults, delivered both in-person and virtually through SeniorPlanet.org, focusing on safe and effective technology use, privacy protection, and staying connected.
“At Verizon, we’re committed to putting technology into the hands of those who otherwise might not have access to it. But access alone is not enough,” said Donna Epps, Chief Responsible Business Officer, Verizon. “Verizon wants to ensure everyone has the knowledge and skills to use technology safely and responsibly. That’s why we’re launching our digital wellness programs—empowering users of all ages with the training and resources necessary to build healthy habits and a healthy relationship with technology.”

Showcasing the importance of offline connections at the Verizon Arcade Unplugged:
- IRL Gaming: To coincide with the Global Day of Unplugging, Verizon is launching the Verizon Arcade Unplugged pop-up experience, transforming digital games into life-sized, interactive challenges to encourage screen-free family time. The activation will be open to select partners on Friday, March 7 and A Parently Kidding member families on Saturday, March 8. Limited general admission tickets are available here. Verizon Arcade Unplugged is also gearing up for an exciting nationwide tour this summer hitting California, Texas and major cities starting in April. Stay tuned for more updates as the experience makes its way across the country.
Tools that help provide peace of mind in a digital world:
- All-in-One Protection with the Verizon Family app: With features like location sharing, Parental Controls, Safe Walk with SOS, Crash Detection and Roadside assistance to keep families connected and protected. The Verizon Family app is available for all Verizon mobile customers on postpaid plans through the App Store and Google Play. More information is available at verizon.com/verizonfamily and Parenting in a Digital World.
MIL OSI Global Banks –
March 7, 2025
MIL-OSI Asia-Pac: IWAI signs MoU with J&K to boost river cruise tourism

Source: Government of India

IWAI signs MoU with J&K to boost river cruise tourism

MoU signed on the sidelines of Chintan Shivir being held in Srinagar in presence of Union Minister Shri Sarbananda Sonowal

Posted On: 06 MAR 2025 4:29PM by PIB Delhi

The Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways has signed a Memorandum of Understanding (MoU) with the Government of Jammu and Kashmir (J&K), to boost river cruise tourism on three National Waterways in J&K.

The MoU was signed on the sidelines of Chintan Shivir being held in Srinagar in the presence of Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal and Minister of State for Ports, Shipping and Waterways Shri Shantanu Thakur. Minister of Food, Civil Supplies and Consumer Affairs, Transport, Science and Technology, Information Technology, Youth Services and Sports, Government of Jammu and Kashmir, Shri Satish Sharma; Secretary, Ministry of Ports, Shipping and Waterways, Shri T.K. Ramachandran; Chairman, IWAI, Shri Vijay Kumar along with other dignitaries were also present on the occasion.

The Inland Waterways Authority of India has been actively promoting cruise tourism in India and the agreement with the Government of Jammu and Kashmir aims to further boost tourism, generate employment, boost economic growth and provide a new mode of leisure/budget tourism on rivers in Jammu and Kashmir.

Of the 111 national waterways in the country, Union Territory of Jammu and Kashmir has three declared national waterways, i.e., River Chenab (NW-26), River Jhelum (NW-49) and River Ravi (NW-84). With the vision to promote river cruise tourism, various cruise circuits were announced for development – spanning from Kashmir to Kerala and Assam to Gujarat – in the recently concluded Second Meeting of Inland Waterways Development Council (IWDC). Within a period of two months, IWAI took a significant step to develop river cruise tourism in the UT of Jammu and Kashmir for an approximate cost of Rs 100 crore.

Under the framework of MoU; the IWAI will provide waterside infrastructure, i.e., ten floating jetties and landside infrastructure comprising of waiting hall and other amenities for cruise passengers. Out of ten, two floating jetties will be installed at Akhnoor and Reasi (near Jammu) the declared portion of River Chenab (NW-26); seven floating jetties at Pantha Chowk, Zero Bridge, Amira Kadal, Shah-e-Hamdan, Safa Kadal/Chattabal Shrine, Sumbal Bridge and Gund Prang (in Srinagar and Bandipora) River Jhelum (NW-49) and one jetty at Sohar on River Ravi (NW-84). Additionally, IWAI will develop navigational fairway by executing dredging wherever required, provide navigational aids and conduct regular hydrographic surveys for safe plying of vessels in these waterways.

The J&K government will provide land for construction of landside facilities, facilitate all statutory clearances and appoint cruise operators in identified sectors of the three National Waterways. The IWAI will also provide any technical assistance required by Government of J&K.

Under the dynamic leadership of Prime Minister Shri Narendra Modi and the able guidance of Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal, IWAI has been making several infrastructural interventions to develop waterways as a robust engine of growth. With its concerted efforts, IWAI is expanding its footprint throughout the country and is presently working towards capacity augmentation of NW 1, NW 2, NW 3 and NW 16 among other waterways by means of developing IWT terminals, fairways through end-to-end dredging contracts, navigational aids like night navigation facility, navigational locks among others.

With proactive steps like developing cruise terminals and related infrastructure, IWAI is working towards promoting river cruise tourism by utilising the immense potential of rivers in the country. The Authority has rolled out initiatives to boost cruise tourism on River Ganga and River Brahmaputra. The success of world’s longest cruise MV Ganga Vilas underlines the same. The partnership between IWAI and Jammu and Kashmir government is an exciting initiative that promises to promote sustainable tourism practices while stimulating local economic growth and enhancing tourist experience.

***

G.D. Hallikeri / Henry

(Release ID: 2108820) Visitor Counter : 52

MIL OSI Asia Pacific News –

March 7, 2025
MIL-OSI Asia-Pac: India’s AI Revolution
Source: Government of India (2)

India’s AI Revolution

A Roadmap to Viksit Bharat

Posted On: 06 MAR 2025 4:09PM by PIB Delhi

Introduction

India is undergoing a remarkable transformation in Artificial Intelligence, driven by the visionary leadership of PM Modi. For the first time in India’s history, the government is actively shaping an AI ecosystem where computing power, GPUs, and research opportunities are accessible at an affordable cost.

Unlike in the past, AI in India is no longer confined to a privileged few or dominated by global tech giants. Through forward-looking policies, the Modi government is empowering students, startups, and innovators with world-class AI infrastructure, fostering a truly level playing field. Initiatives such as the IndiaAI Mission and the establishment of Centres of Excellence for AI are strengthening the country’s AI ecosystem, paving the way for innovation and self-reliance in this critical sector.

These efforts align with the vision of Viksit Bharat by 2047, where India aspires to become a global AI powerhouse, leveraging cutting-edge technology for economic growth, governance, and societal progress.

AI Compute and Semiconductor Infrastructure

India is rapidly building a strong AI computing and semiconductor infrastructure to support its growing digital economy. With the approval of the IndiaAI Mission in 2024, the government allocated ₹10,300 crore over five years to strengthen AI capabilities. A key focus of this mission is the development of a high-end common computing facility equipped with 18,693 Graphics Processing Units (GPUs), making it one of the most extensive AI compute infrastructures globally. This capacity is nearly nine times that of the open-source AI model DeepSeek and about two-thirds of what ChatGPT operates on.

Here are the key developments:
- Scaling AI Compute Infrastructure: The initial phase of the mission has already made 10,000 GPUs available, with the remaining units to be added soon. This will enable the creation of indigenous AI solutions tailored to Indian languages and contexts.
- Opening Access to High-Performance Computing: India has also pioneered the launch of an open GPU marketplace, making high-performance computing accessible to startups, researchers, and students. Unlike many countries where AI infrastructure is controlled by large corporations, this initiative ensures that small players have an opportunity to innovate.
- Robust GPU Supply Chain: The government has selected 10 companies to supply the GPUs, ensuring a robust and diversified supply chain.
- Indigenous GPU Capabilities: To further strengthen domestic capabilities, India aims to develop its own GPU within the next three to five years, reducing reliance on imported technology.
- Affordable Compute Access: A new common compute facility will soon be launched, allowing researchers and startups to access GPU power at a highly subsidised rate of ₹100 per hour, compared to the global cost of $2.5 to $3 per hour.
- Strengthening Semiconductor Manufacturing: In parallel, India is advancing semiconductor manufacturing, with five semiconductor plants under construction. These developments will not only support AI innovation but also reinforce India’s position in the global electronics sector.
Advancing AI with Open Data and Centres of Excellence (CoE)

Recognising the importance of data in AI development, the Modi government has launched the IndiaAI Dataset Platform to provide seamless access to high-quality, non-personal datasets. This platform will house the largest collection of anonymised data, empowering Indian startups and researchers to develop advanced AI applications. By ensuring diverse and abundant datasets, this initiative will drive AI-driven solutions across key sectors, enhancing innovation and accuracy.
- IndiaAI Dataset Platform for Open Data Access: The platform will enable Indian startups and researchers to access a unified repository of high-quality, anonymised datasets, reducing barriers to AI innovation.
- Boosting AI Model Accuracy with Diverse Data: By providing large-scale, non-personal datasets, the initiative will help reduce biases and improve the reliability of AI applications across domains such as agriculture, weather forecasting, and traffic management.
- Centres of Excellence: The government has established three AI Centres of Excellence (CoE) in Healthcare, Agriculture, and Sustainable Cities in New Delhi. The Budget 2025 further announced a new CoE for AI in education with an outlay of ₹500 crore, making it the fourth such centre.
- Skilling for AI-Driven Industries: Plans are in place for five National Centres of Excellence for Skilling, which will equip youth with industry-relevant expertise. These centres will be set up in collaboration with global partners to support the ‘Make for India, Make for the World’ vision in manufacturing and AI innovation.
India’s AI Models & Language Technologies

The government is facilitating the development of India’s own foundational models, including Large Language Models (LLMs) and problem-specific AI solutions tailored to Indian needs. To foster AI research, multiple Centres of Excellence have also been set up.
- India’s Foundational Large Language Models: IndiaAI has launched an initiative to develop indigenous foundational AI models, including LLMs and Small Language Models (SLMs), through a call for proposals.
- Digital India BHASHINI: An AI-led language translation platform designed to enable easy access to the internet and digital services in Indian languages, including voice-based access, and support content creation in Indian languages.
- BharatGen: The world’s first government-funded multimodal LLM initiative, BharatGen was launched in 2024 in Delhi. It aims to enhance public service delivery and citizen engagement through foundational models in language, speech, and computer vision. BharatGen involves a consortium of AI researchers from premier academic institutions in India.
- Sarvam-1 AI Model: A large language model optimised for Indian languages, Sarvam-1 has 2 billion parameters and supports ten major Indian languages. It is designed for applications such as language translation, text summarisation, and content generation.
- Chitralekha: An open-source video transcreation platform developed by AI4Bhārat, Chitralekha enables users to generate and edit audio transcripts in various Indic languages.
- Hanooman’s Everest 1.0: A multilingual AI system developed by SML, Everest 1.0 supports 35 Indian languages, with plans to expand to 90.
AI Integration with Digital Public Infrastructure

India’s Digital Public Infrastructure (DPI) has redefined digital innovation by combining public funding with private sector-led innovation. Platforms like Aadhaar, UPI, and DigiLocker serve as the foundation, while private entities build application-specific solutions on top of them. This model is now being enhanced with AI, integrating intelligent solutions into financial and governance platforms. The global appeal of India’s DPI was evident at the G20 Summit, where several countries expressed interest in adopting similar frameworks. Japan’s patent grant to India’s UPI payment system further underscores its scalability.

For Mahakumbh 2025, AI-driven DPI solutions played a crucial role in managing the world’s largest human gathering. AI-powered tools monitored real-time railway passenger movement to optimise crowd dispersal in Prayagraj. The Bhashini-powered Kumbh Sah’AI’yak Chatbot enabled voice-based lost-and-found services, real-time translation, and multilingual assistance. Its integration with Indian Railways and UP Police streamlined communication, ensuring swift issue resolution. By leveraging AI with DPI, Mahakumbh 2025 set a global benchmark for tech-enabled, inclusive, and efficient event management.

AI Talent & Workforce Development

India’s workforce is at the heart of its digital revolution. The country is adding one Global Capability Center (GCC) every week, reinforcing its status as a preferred destination for global R&D and technological development. However, sustaining this growth will require continuous investment in education and skill development. The government is addressing this challenge by revamping university curricula to include AI, 5G, and semiconductor design, aligning with the National Education Policy (NEP) 2020. This ensures that graduates acquire job-ready skills, reducing the transition time between education and employment.
- AI Talent Pipeline & AI Education: Under the IndiaAI Future Skills initiative, AI education is being expanded across undergraduate, postgraduate, and Ph.D. programs. Fellowships are being provided to full-time Ph.D. scholars researching AI in the top 50 NIRF-ranked institutes. To enhance accessibility, Data and AI Labs are being established in Tier 2 and Tier 3 cities, with a model IndiaAI Data Lab already set up at NIELIT Delhi.
- India Ranks 1st in Global AI Skill Penetration: According to the Stanford AI Index 2024, India ranks first globally in AI skill penetration with a score of 2.8, ahead of the US (2.2) and Germany (1.9). AI talent concentration in India has grown by 263% since 2016, positioning the country as a major AI hub. India also leads in AI Skill Penetration for Women, with a score of 1.7, surpassing the US (1.2) and Israel (0.9).
- AI Innovation: India has emerged as the fastest-growing developer population globally and ranks second in public generative AI projects on GitHub. The country is home to 16% of the world’s AI talent, showcasing its growing influence in AI innovation and adoption.
- AI Talent Hubs: The India Skills Report 2024 by Wheebox forecasts that India’s AI industry will reach USD 28.8 billion by 2025, with a CAGR of 45%. The AI-skilled workforce has seen a 14-fold increase from 2016 to 2023, making India one of the top five fastest-growing AI talent hubs, alongside Singapore, Finland, Ireland, and Canada. The demand for AI professionals in India is projected to reach 1 million by 2026.
AI Adoption & Industry Growth

India’s Generative AI (GenAI) ecosystem has seen remarkable growth, even amid a global downturn. The country’s AI landscape is evolving from experimental use cases to scalable, production-ready solutions, reflecting its growing maturity.
- Businesses Prioritising AI Investments: According to BCG, 80% of Indian companies consider AI a core strategic priority, surpassing the global average of 75%. Additionally, 69% plan to increase their tech investments in 2025, with one-third allocating over USD 25 million to AI initiatives.
- GenAI Startup Funding: According to a November 2024 report by National Association of Software and Service Companies (NASSCOM), Indian GenAI startup funding surged over six times quarter-on-quarter, reaching USD 51 million in Q2FY2025, driven by B2B and agentic AI startups.
- AI Transforming Workplaces: The Randstad AI & Equity Report 2024 states that seven in 10 Indian employees used AI at work in 2024, up from five in 10 a year earlier, showcasing AI’s rapid integration into workplaces.
- AI Empowering Small & Medium Businesses (SMBs): AI-driven technologies, such as autonomous agents, are helping SMBs scale efficiently, personalise customer experiences, and optimise operations. According to Salesforce, 78% of Indian SMBs using AI reported revenue growth, while 93% stated AI has contributed to increased revenues.
- Rapid Expansion of India’s AI Economy: As per the BCG-NASSCOM Report 2024, India’s AI market is projected to grow at a CAGR of 25-35%, reinforcing its potential for innovation and job creation. While AI automates routine tasks, it is simultaneously generating new opportunities in data science, machine learning, and AI-driven applications.
- AI Startup Support Ecosystem: India hosts 520+ tech incubators and accelerators, ranking third globally in active programs. 42% of these were established in the past five years, catering to the evolving needs of Indian startups. AI-focused accelerators like T-Hub MATH provide crucial mentorship in product development, business strategy, and scaling. In early 2024, MATH supported over 60 startups, with five actively discussing funding, highlighting India’s growing AI startup landscape.
A Pragmatic AI Regulation Approach

India’s pragmatic AI regulation balances innovation and accountability, steering clear of overregulation that could stifle growth and unchecked market-driven governance that may create monopolies. Instead of relying solely on legislation, India is investing in AI-driven safeguards, funding top universities and IITs to develop solutions for deep fakes, privacy risks, and cybersecurity threats. This techno-legal approach ensures AI remains a force for inclusive growth, fostering an ecosystem where innovation thrives while ethical concerns are proactively addressed.

Conclusion

India’s rapid advancements in artificial intelligence, underpinned by strategic government initiatives, have positioned the country as a global AI powerhouse. By expanding AI compute infrastructure, fostering indigenous AI models, enhancing digital public infrastructure, and investing in talent development, India is creating an inclusive and innovation-driven ecosystem. The emphasis on open data, affordable access to high-performance computing, and AI-driven solutions tailored to local needs ensures that the benefits of AI reach businesses, researchers, and citizens alike. As AI adoption accelerates across industries, India’s proactive approach is not only strengthening its digital economy but also paving the way for self-reliance in critical technologies. With a clear vision for the future, India is set to become a leader in AI innovation, shaping the global AI landscape in the years to come.

Source: Ministry of Electronics and Information Technology

Click to see in PDF

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Santosh Kumar/ Ritu Kataria/ Saurabh Kalia

(Release ID: 2108810) Visitor Counter : 108

MIL OSI Asia Pacific News –
March 7, 2025
MIL-OSI Asia-Pac: HKETO, Brussels celebrates Chinese New Year in Madrid and Barcelona (with photos)

Source: Hong Kong Government special administrative region

HKETO, Brussels celebrates Chinese New Year in Madrid and Barcelona (with photos)
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The Hong Kong Economic and Trade Office in Brussels (HKETO, Brussels) hosted Chinese New Year receptions in Madrid and Barcelona, Spain, on March 3 and 4 (Spanish time) respectively, concluding the series of celebration for the Year of the Snake. The reception in Barcelona was officiated by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, who led a delegation of representatives from Hong Kong’s innovation and technology (I&T) sector to attend the Mobile World Congress (MWC) 2025 in Barcelona. The visit aimsto strengthen ties and co-operation between Hong Kong and Spain in the field of I&T, promote Hong Kong’s I&T advantages, and explore overseas business opportunities for Hong Kong’s I&T sector. At the reception, the Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Ms Shirley Yung, highlighted in her welcoming remarks that under “one country”, Hong Kong has convenient and often priority access to the huge Mainland market, while maintaining the qualities of an international city under “two systems”. “These distinct advantages are recognised in the latest international ranking, in which Hong Kong is ranked among the world’s top three international financial centres,” Ms Yung added. At the reception in Madrid, HKETO, Brussels took the opportunity to showcase Hong Kong’s unique East-meets-West culture by staging a music performance featuring two Hong Kong flutists and one German cellist, who performed both classical Chinese and Spanish music, as well as contemporary Hong Kong pop. The two receptions in Madrid and Barcelona attracted over 200 guests from the sectors of government, business, culture, academia and media in Spain. They were co-organised with Invest Hong Kong and the Hong Kong Trade Development Council (HKTDC) and with the support of the Spain Hong Kong Business Association. The MWC is one of the world’s leading technology fairs where tens of thousands of technology experts and companies gather. This year, the Hong Kong delegation include heads of the Hong Kong Science and Technology Parks Corporation (HKSTPC), Cyberport, the Hong Kong Applied Science and Technology Research Institute, and the Hong Kong Microelectronics Research and Development Institute, as well as representatives of 24 Hong Kong I&T enterprises and institutions. The HKSTPC and the HKTDC co-ordinate the participation of the I&T representatives in the Hong Kong Tech Pavilion at the MWC.

Ends/Thursday, March 6, 2025Issued at HKT 20:47

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MIL OSI Asia Pacific News –

March 7, 2025
MIL-OSI Asia-Pac: London ETO greets Year of Snake in Norway (with photos)

Source: Hong Kong Government special administrative region

London ETO greets Year of Snake in Norway (with photos)
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The Hong Kong Economic and Trade Office, London (London ETO) and the Norway-Hong Kong Chamber of Commerce hosted a Year of the Snake reception in Oslo, Norway, on March 5 (Oslo time). The Director-General of the London ETO, Mr Gilford Law, delivered a virtual welcome speech at the reception. He highlighted that Hong Kong is an unparalleled destination for businesses and investors, thanks to its free and open investment environment, as well as its simple and low tax system. Mr Law said, “The number of companies in Hong Kong with overseas or Mainland parent companies rose to 9 960 in 2024, while the number of start-ups in Hong Kong increased to 4 694, both reaching record highs. These figures demonstrate that Hong Kong is becoming increasingly attractive to businesses and remains an ideal place for Mainland and overseas enterprises to set up or expand their operations. ” Mr Law added, “On top of attracting businesses, Hong Kong is also attracting tourists with its dynamic calendar of world-class events. In 2024, Hong Kong welcomed close to 45 million international visitors, a 31 per cent increase from 2023. Stepping into 2025, Hong Kong, as the ‘Events Capital of Asia’, is set to host an array of high-profile business, sports, arts, and cultural events.” The reception was well attended by over 80 guests in Norway from the Ministry of Trade, Industry and Fisheries, the Ministry of Foreign Affairs, and the business, academic and cultural sectors. The London ETO will continue to celebrate the Year of the Snake among the countries under its purview.

Ends/Thursday, March 6, 2025Issued at HKT 23:33

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MIL OSI Asia Pacific News –

March 7, 2025
MIL-OSI USA: 03.06.2025 Senate Approves Coast Guard Authorization Act Unanimously

US Senate News:

Source: United States Senator for Texas Ted Cruz

WASHINGTON, D.C. – U.S. Senator Ted Cruz (R-Texas), Chairman of the Senate Commerce Committee, Ranking Member Maria Cantwell (D-Wash.), and Sens. Dan Sullivan (R-Alaska) and Tammy Baldwin (D-Wis.), introduced the Coast Guard Authorization Act of 2025, and it passed the Senate by unanimous consent. The bipartisan measure was agreed to at the end of last year by leaders of both the Senate Commerce Committee and House Transportation and Infrastructure Committee, but the session ended before final passage could occur. The bill authorizes funding to strengthen the Coast Guard’s ability to protect our borders, facilitate maritime commerce, unleash American energy, bolster deterrence efforts, and improve support for Coast Guard personnel and their families.
Sen. Cruz delivered the following remarks on the Senate floor regarding the Coast Guard Authorization Act of 2025:
“The United States Coast Guard is essential to protecting our Nation’s maritime borders from threats like illegal drugs, illegal immigration, and transnational crime. The Coast Guard saves American lives and ensures that commerce flows smoothly at our ports.
“The Coast Guard Authorization Act of 2025 is bipartisan legislation that Senator Cantwell and I negotiated and agreed to with House Transportation & Infrastructure Committee Chairman Sam Graves and Ranking Member Rick Larsen. It authorizes funding to bolster the Coast Guard’s critical missions of border security, facilitating maritime commerce, and enforcing the rule of law in domestic and international waters.
“I want to draw attention to several key provisions in this bill.
“Last year, the Coast Guard seized over 106 metric tons of cocaine. Unfortunately, cartels are now using technology like miniature, remote-controlled drone ships to smuggle drugs across our maritime border. Without this legislation, the Coast Guard would remain unable to prosecute criminals using these remote-controlled, autonomous vessels.
“The Coast Guard Authorization Act of 2025 expands the Coast Guard’s and Customs and Border Protection’s use of cutting-edge tools like Tactical Maritime Surveillance Systems, which are blimp-based radar systems—to find and interdict drug runners, poachers, and human traffickers at the Texas-Mexico border in the Gulf of America, in San Diego, Key West, and San Juan Puerto Rico.
“I ask my colleagues to stand with me and support President Trump’s vision of protecting our borders from drugs and illegal immigrants and of building ships to revitalize the Coast Guard’s fleet. I urge my colleagues to support the Coast Guard Authorization Act.”
Read the bill text here.
BACKGROUND
The Coast Guard Authorization Act of 2025 makes several enhancements to the Coast Guard’s operations by:

Expanding efforts to interdict and prosecute illicit drug trafficking. The Maritime Drug Law Enforcement Act will now ensure the United States can prosecute drug traffickers who utilize remote-controlled or autonomous vessels to smuggle illegal narcotics.

Protecting personnel from illicit drug exposure. All Coast Guard installations will be required to maintain a supply of medication to treat opioid overdoses, including fentanyl.

Upgrading icebreaker fleet. The bill directs the Coast Guard to establish a replacement plan for aging icebreaking tug fleets and expedite the delivery of new icebreakers.

Addressing grossly negligent operations of vessels. With the steady rise of vessel traffic on U.S. waterways, individuals who operate a vessel in a grossly negligent manner and cause serious bodily injury will be held accountable with appropriate criminal penalties.

Mapping Arctic maritime routes. The Arctic Circle has strategic economic and military significance for the United States. This provision would promote American interests in the region and improve emergency response capabilities and infrastructure needed to support vessel traffic.

Increasing the Coast Guard’s deterrence capabilities. With increased instances of illegal fishing operations and illicit drug trafficking in the South China Sea, it is critical that the United States Coast Guard and Taiwan Coast Guard Administration conduct joint and integrated maritime operational and leadership training to combat violations of maritime law and threats to our national security.

Improving the livelihoods of Coast Guard families. The Coast Guard will grant a cash allowance to pregnant officers to purchase maternity-related uniform items, allow the Coast Guard to acquire more housing, and identify Coast Guard duty locations in which there is a misalignment between the basic allowance for housing and prevailing housing costs.

Refining procedures to prevent and respond to sexual assaults. The Coast Guard will establish confidential reporting for sexual harassment, strengthen protective orders for victims, and provide access to the Department of Defense’s Defense Sexual Assault Incident Database. The bill also overhauls the transfer process for victims and allows victims of sex-related offenses to request temporary separation.

Requiring the Coast Guard Academy to study its safety infrastructure. The Coast Guard Academy will be required to modify policy related to sexual assault matters, install electronic locking mechanisms to secure cadet rooms and common spaces, and update the Academy’s Board of Visitors to ensure better Congressional oversight and engagement.

Adding units to the Coast Guard’s Junior Reserve Officers’ Training Corps (JROTC) program. The bill will increase the number of units from 14 to 20 to better recruit and retain a robust and well-qualified Coast Guard officer corps.

With about 2,000 Coast Guard personnel stationed in Texas, the Service’s men and women have contributed significantly to Texas’s border security and economy. The Coast Guard Authorization Act of 2025 will specifically help Texans by:

Allowing the Coast Guard to use a proven, performance-driven approach for inspecting foreign flag tank vessels.An overwhelming majority of the Coast Guard’s gas carrier compliance exams are conducted in Texas. Performance-driven examinations will allow the Coast Guard to work more efficiently and advance President Trump’s direction to ‘Unleash American Energy.’

Establishing safety zones for space activities and offshore energy development activities. Texas is home to a robust commercial space and energy industry, and this authority allows the Coast Guard to establish safety zones in support of space launches and recovery, as well as offshore energy development activities, ensuring more job growth and greater energy security.

Streamlining the process of data sharing between the Coast Guard and U.S. Customs and Border Protection.Tactical maritime surveillance systems (TMSS) at the Coast Guard Station on South Padre Island will be used for the purposes of data integration and information sharing with U.S. Customs and Border Protection to aid in the detection and interdiction of illegal aliens and fish poachers.

Upgrading Coast Guard facilities to support border security operations and future aviation missions. The bill specifically requires studies on improving Texas-based Coast Guard Stations on South Padre Island, Port Aransas, and Port O’Connor, as well as the Coast Guard Air Station in Corpus Christi.

MIL OSI USA News –

March 7, 2025
MIL-OSI Asia-Pac: Consultation Meet with Industry associations for ‘Engaging Dialogue on Entity Locker’ held at MeitY

Source: Government of India (2)

Posted On: 06 MAR 2025 8:00PM by PIB Delhi

A consultation meeting to invite suggestions and inputs from industry bodies and partner organisations for Entity Locker was held at Electronics Niketan on March 6, 2025. The meeting was chaired by Shri Nand Kumarum, President & CEO, Nation E-Governance Mission (NeGD); MD & CEO Digital India Corporation, and CEO, MyGov.

Participants included senior officials from various chambers and national boards such as FICCI, CII, Indian Banks Association, The Bengal Chamber of Commerce and Industry, The Institute of Cost Accountants of India, India SME Forum, PHDCCI, Federation of Indian Export Organisations, SEBI, NASSCOM, Data Security Council of India, and government enterprises viz. Agricultural & Processed Food Products Export Development Authority (APEDA), Rail India Technical and Economic Service, and Engineering Projects India Ltd. etc.

The meeting aimed to apprise the members about Entity Locker’s process flow and encourage them to promote its usage among associated entities. Feedback and suggestions to incorporate additional features and functions were also collected and the team at National e-Governance Division (NeGD) welcomed a stream of dialogues for continous improvements and better onboarding experience for all kinds of entities, including private players in the buinsess/financial ecosystem.

Shri Nand Kumarum emphasised on the need for organisations to develop relevant use cases pertaining to the document interactions and exchange mechanism followed in their respective companies/organisations. He highlighted that Entity Locker provides secure data storage for important documents of business entities and the like, thus leading to ‘Ease of Doing Buisness’, and this along with the free 10 GB storage being provided by the Government is a big incentive for all organisations to onboard themselves and their allied partners on this platform.

Several questions were raised regarding document visibility and sharing access, API integration, extendable storage facility, option to group users, and the verification protocol to be followed for Aadhaar & other licenses.

All the current challenges, specific onboarding issues being faced, and concerns or problems and need regarding particular integration requirements were duly noted by the team and responded to. These will be formally allayed and worked upon once the participating members send back their replies addressing the same.

About Entity Locker

Entity Locker is a secure, cloud-based solution that simplifies the storage, sharing, and verification of documents for a wide range of entities, including large organisations, corporations, micro, small, and medium Enterprises (MSMEs), trusts, startups and societies. The platform is a critical component of India’s Digital Public Infrastructure, aligning with the vision of the Union Budget 2024-25 for enhanced digital governance and ease of doing business.

As a part of the Digital India Programme, Entity Locker exemplifies the innovative use of technology to solve complex administrative challenges and promote economic growth. Its phased implementation will see gradual integration with more government platforms and agencies.

Businesses, regulators and other stakeholders are encouraged to adopt this transformative digital solution to enhance operational efficiency and compliance.

Visit Entity Locker: https://entity.digilocker.gov.in/

For further details, contact: partners@digitallocker.gov.in

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Dharmendra Tewari/ Navin Sreejith

(Release ID: 2108912) Visitor Counter : 62

MIL OSI Asia Pacific News –

March 7, 2025
MIL-OSI Asia-Pac: INDIAN YOUTH WILL PIONEER INNOVATION AND RESEARCH ON GLOBAL STAGE: LOK SABHA SPEAKER

Source: Government of India (2)

INDIAN YOUTH WILL PIONEER INNOVATION AND RESEARCH ON GLOBAL STAGE: LOK SABHA SPEAKER

WOMEN AND YOUTH OF INDIA WILL BE TRAILBLAZERS OF TRANSFORMATION ACROSS THE WORLD: LOK SABHA SPEAKER

STUDENT LIFE IS THE MOST PRECIOUS PHASE OF ONE’S JOURNEY: LOK SABHA SPEAKER

LOK SABHA SPEAKER GRACES THE BUSINESS CONCLAVE ORGANIZED BY SRI RAM COLLEGE OF COMMERCE

Posted On: 06 MAR 2025 8:00PM by PIB Delhi

New Delhi; 06 March 2025: Lok Sabha Speaker Shri Om Birla today asserted that dynamic and visionary youth of India would spearhead groundbreaking innovations and lead the charge in research across the world. The Speaker also celebrated the unparalleled strength and resilience of Indian women, noting that women are at the forefront of India’s growth and its journey towards a Viksit Bharat. He observed that women today are seizing vast opportunities and leading in diverse fields, hoping that they will soon emerge as the true torchbearers of the nation’s future. Addressing the students and other invitees at the Business Conclave hosted by the renowned Shri Ram College of Commerce, Delhi University, today, he emphasized that it is the youth and women of India who will drive the transformative changes across the globe, shaping the future with their intellect and dedication.

नवाचार और उमंग से भरे नौजवान,
नव भारत का करेंगे निर्माण।

ऊर्जावान तरुणाई से मिलकर हमेशा ही उत्साहित होता हूँ। भारत के युवा देश की progress और prosperity के ध्वजवाहक हैं। आज Shri Ram College of Commerce, दिल्ली में Business Conclave में युवा छात्रों से संवाद बेहद सुखद रहा।… pic.twitter.com/culqDqaQin

— Om Birla (@ombirlakota) March 6, 2025

Shri Birla acknowledged that the ever-evolving landscape of technology has the power to expand the horizons of the mind. However, he also cautioned that in embracing the technological revolution, one must remain deeply conscious of the societal context and the challenges it brings. Reaffirming India’s growing prowess in innovation and research, Shri Birla was confident that the world would soon look towards India as the leader of change and progress. He urged the youth to become the architects of this global transformation, as they hold the key to realizing India’s boundless potential. The youth and women of India will unquestionably lead the charge in shaping the future of the world, he asserted.

Shri Birla encouraged the students to cultivate creativity and an expansive mindset in today’s fiercely competitive world. He reminded them that failure is merely a precursor to success, and that perseverance, coupled with ingenuity, is the true path to achievement.

नवाचार और उमंग से भरे नौजवान,
नव भारत का करेंगे निर्माण।

ऊर्जावान तरुणाई से मिलकर हमेशा ही उत्साहित होता हूँ। भारत के युवा देश की progress और prosperity के ध्वजवाहक हैं। आज Shri Ram College of Commerce, दिल्ली में Business Conclave में युवा छात्रों से संवाद बेहद सुखद रहा।… pic.twitter.com/culqDqaQin

— Om Birla (@ombirlakota) March 6, 2025

Drawing from his own personal journey, Shri Birla nostalgically referred to student life as the “golden phase” in one’s life, a time brimming with boundless opportunities and potential. He counselled the students to carve out their path early, setting steadfast goals, and pursuing them with relentless determination. He said that the pursuit of one’s dreams requires more than just ambition; it requires a single-minded focus and unwavering perseverance.

Shri Birla further underscored the importance of resilience, urging students not to allow the lack of resources to hinder their progress. Stressing that a determined spirit can convert obstacles into triumphs, he underlined the importance of self-confidence, noting that it is only with a strong and positive mindset that one can contribute to the betterment of society and the nation, while simultaneously achieving personal milestones.

In his reflections on the essence of education, Shri Birla mentioned that education is a beacon that illuminates the mind, nurtures the soul, and inspires the individual to become a catalyst for change and progress within society. He urged the youth to develop a multi-dimensional vision and a profound passion for success, not just for personal gain, but for the greater cause of nation-building.

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AM

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Read this release in: Hindi

MIL OSI Asia Pacific News –

March 7, 2025
MIL-OSI USA: Hoeven Meets With North Dakota’s U.S. Senate Youth Program Delegates

US Senate News:

Source: United States Senator for North Dakota John Hoeven
03.06.25
WASHINGTON — Senator John Hoeven this week met with Martin Bergstedt, a senior at Enderlin High School, and Cady Wang, a senior at Davies High School in Fargo, who were chosen to represent North Dakota as delegates to the 63rd annual United States Senate Youth Program (USSYP). The program brings students from across the country to Washington, D.C. to meet with senators, the president, a Supreme Court Justice and cabinet officials.
“We congratulate Martin and Cady on being selected as North Dakota’s Senate Youth Program delegates and commend their dedication to academics and community service,” said Hoeven. “This prestigious, merit-based program offers students a unique opportunity to learn about the federal government while also providing scholarships to support their education.”
Martin Bergstedt
Martin Bergstedt, a senior at Enderlin High School, is president of the Future Business Leaders of America chapter. He also serves as FCCLA vice president, a National Honor Society member, yearbook editor and pep club leader. A National Merit semifinalist and accomplished speaker, he is a three-time state champion and two-time national qualifier in Speech and Debate. Actively involved in the Enderlin Endowment Fund, he plans to pursue a career in corporate finance.
Cady Wang
Cady Wang, a senior at Davies High School in Fargo, advises the North Dakota Health and Human Services Youth Advisory Board, representing nearly 200,000 youth statewide. She promotes health care equipment recycling and supports True Friends summer camp for individuals with disabilities. As a Research Science Institute participant, she now interns at North Dakota State University, working with local farms on sustainable agriculture. She plans to study environmental engineering and public policy at MIT, followed by a master’s in public policy focused on climate change and sustainability.
About USSYP
Created in 1962 by Senate Resolution 324, the USSYP has been sponsored by the Senate and fully funded by The Hearst Foundations since the program’s inception. Senate testimony states that the impetus for the program is “to increase young Americans’ understanding of the interrelationships of the three branches of government, learn the caliber and responsibilities of federally elected and appointed officials, and emphasize the vital importance of democratic decision making not only for America but for people around the world.”
Each year, this competitive, merit-based program brings 104 of the most outstanding high school students — two from each state, the District of Columbia and the Department of Defense Education Activity — to Washington, D.C. for an intensive week-long study of the federal government and those who lead it. The program’s mission is to help instill within each student delegate a more profound knowledge of the American political process and a lifelong commitment to public service.
In addition to the program week, the Hearst Foundations provides each student with a $10,000 undergraduate college scholarship with encouragement to continue coursework in government, history and public affairs. Transportation and all expenses for Washington Week are also provided by The Hearst Foundations because, as stipulated in S.Res.324, no government funds are utilized.
The chief educational officer in each state selects the delegates after nomination by teachers and principals. This year’s delegates were designated by Kirsten Baesler, North Dakota Superintendent of Public Instruction.

MIL OSI USA News –

March 7, 2025
MIL-OSI USA: Filer Transition to New and Improved EDGAR Begins March 24

Source: Securities and Exchange Commission

The Securities and Exchange Commission is providing extensive guidance and resources to assist filers with upcoming access and account management enhancements to the security of the agency’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. On March 24, a new EDGAR Filer Management dashboard will go live on the SEC’s website, and filers can begin enrolling in “EDGAR Next” by submitting an amended Form ID, which is the application that individuals or companies complete to obtain EDGAR access credentials.

The Commission adopted rule and form amendments referred to as EDGAR Next in September 2024 to improve the ability of filers to securely manage and maintain access to their EDGAR accounts while simplifying the procedures for them to access EDGAR. Enrollment in EDGAR Next will remain open until Dec. 19, 2025. However, filers should enroll no later than Sept. 12, 2025, to avoid interruption in the ability to file.

More information about enrollment is available on the EDGAR Next webpage.

“We appreciate the tremendous interest from both individual filers and the filing industry in our kickoff webinars and technical developer sessions, and we will continue to provide resources and assistance to ensure a seamless transition to EDGAR Next for filers,” said Jed Hickman, Director of the SEC’s EDGAR Business Office.

Filers can view instructional videos on the SEC YouTube channel, including:

Additionally, filers can find written materials such as “How Do I” guides that explain how to Obtain Login.gov Individual Account Credentials and Enroll in EDGAR Next. On the EDGAR Next webpage, filers can find additional information including answers to a set of Frequently Asked Questions.

Filers also may obtain assistance by emailing EDGARNextBeta@sec.gov or calling 202-551-8900, option #2.

MIL OSI USA News –

March 7, 2025
MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025 Set to Drive Investment, Growth with Business Management Participation

Source: Africa Press Organisation – English (2) – Report:

BRAZZAVILLE, Congo (Republic of the), March 6, 2025/APO Group/ —

As part of a strategy to spur energy investment and socioeconomic development, the Republic of Congo has initiated a number of strategies to drive resource monetization, project development and local capacity building. As such, the nation has attracted a wave of international companies across its energy value chain, leading to a series of recent acquisitions and project developments in the country.

In light of Congo’s favorable legislative and fiscal landscape, the inaugural Congo Energy & Investment Forum (CEIF), taking place from March 24-26, 2025, in Brazzaville, will feature a strong lineup of legal firms and business management companies. This year’s conference will feature the participation of Louis-Raymond Gomes, Managing Attorney at Cabinet Gomes; Ileana Ferber, CEO and Local Content Expert at Colibri Business Development; and Eric Williams, President and Principal Consultant at Royal Triangle Energy Solutions.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

Serving as one of the country’s foremost legal service companies, Cabinet Gomes offers services in labor law; banking and finance; hydrocarbons and mining law; and mergers and acquisitions. Earlier this year, oil and gas company Trident Energy finalized its acquisition of energy majors Chevron and TotalEnergies’ interests in operational fields in Congo. Set to add approximately 30,000 barrels of oil per day to Congo’s production capacity, this acquisition highlights the country’s immense potential for international companies to meet the country’s development goals.

Meanwhile, the participation of Colibri Business Development at CEIF 2025 is expected to show a unique insight into how international companies can participate in Congo’s burgeoning hydrocarbons sector. The country will launch its 2025 licensing round at CEIF 2025, offering onshore, offshore and marginal acreage to potential investors and developers while aligning with national efforts to increase output.

Set to showcase how Congo’s regulatory framework and fiscal regime can accelerate monetization of the country’s natural resources, Royal Triangle Energy Solutions’ experience in the African market has the potential to empower businesses with effective change management skills and knowledge for participating in Congo’s energy sector. The Congolese government is also set to release its Gas Master Plan at CEIF 2025, which will serve as a roadmap to Congo’s gas resources for both domestic consumption and export.

“The exchange of knowledge and expertise is vital to unlocking the full potential of Congo’s natural resources, driving economic growth and positioning the country as a key player in the global energy market. The participation of Cabinet Gomes, Colibri Business Development and Royal Triangle Energy Solutions at CEIF 2025 underscores the immense opportunities the country offers for international investment and collaboration,” states Sandra Jeque, Events and Project Director, Energy Capital & Power.

MIL OSI Africa –

March 7, 2025
MIL-OSI: LECTRA: Monthly declaration of the total number of shares and voting rights composing the company’s capital (at February 28th, 2025)
Source: GlobeNewswire (MIL-OSI)

Monthly declaration of the total number of shares and voting rights composing the company’s capital (at February 28^t^h, 2025)

This declaration is established in accordance with Article L.233-8 II of the French Code de Commerce and of Article 223-11 of the Règlement Général of the Autorité des marchés financiers (AMF).

Date:

February 28^t^h, 2025

Total number of shares composing the capital:

38,028,866

Total number of voting rights, gross (1):

38,221,016

Total number of voting rights, net (2):

38,188,374

(1) In accordance with the second paragraph of article 223-11 of the Règlement Général of the AMF, the gross total of voting rights is based on the total number of shares composing the company’s capital which have voting rights, including shares deprived of their voting rights

(2) The net total of voting rights is equal to the gross total, minus the number of shares deprived of their voting rights (treasury shares)

Other than the legal notification requirements for crossing the thresholds established by French law, there is no special statutory obligation.

Attachment
- Monthly_declaration_shares_votingrights_february 2025
The MIL Network –
March 7, 2025
MIL-OSI: KingsRock Advisors and BC Partners Credit Announce $500 million Co-Investment Strategic Alliance

Source: GlobeNewswire (MIL-OSI)

Strengthens KingsRock’s growing corporate finance advisory and capital raising business; Increases robust pipeline of investment opportunities for BC Partners Credit

Collaboration aims to capitalize on the rapidly growing $2.0 trillion private credit industry

NEW YORK and LONDON and STOCKHOLM and DUBAI, United Arab Emirates, March 06, 2025 (GLOBE NEWSWIRE) — KingsRock Advisors, LLC, the independent global advisory firm, and BC Partners Credit, the $8 billion credit arm of international investment firm BC Partners, today announced a non-exclusive strategic alliance, wherein BC Partners Credit will have the ability to co-invest up to $500 million in a robust pipeline of credit and special opportunity transactions originated and structured by KingsRock. Likewise, KingsRock will benefit from BC Partners’ deep expertise, resources and broad international network.

This collaboration aims to leverage their combined expertise to originate, structure, execute and invest in credit and hybrid capital opportunities. BC Partners offers KingsRock greater ability to lead, underwrite and co-invest in mandated private capital markets transactions, thus providing issuer clients an enhanced level of financing certainty and its wide investor base with stronger alignment of interest by co-investments.

“The private credit sector has seen tremendous growth and it will not slow down any time soon. By combining KingsRock’s global origination expertise and broad client mix with BC Partners’ strong capital base and extensive distribution networks, both firms are even better positioned to execute complex financing transactions with greater efficiency and volume. We look forward to partnering together on attractive credit and special situation opportunities” said Ted Goldthorpe, Head of BC Partners Credit.

“We are thrilled to announce our strategic alliance with BC Partners Credit,” said Håkan Wohlin, Founder & Managing Partner, and Louis Jaffe, Co-Founder & Managing Partner of KingsRock Advisors. “Having successfully collaborated on multiple high-profile projects across industries, we are building on a strong foundation. This will allow us to support our clients’ capital raising efforts, and wherever applicable take a lead in transactions with other investor partners, by also utilizing access to BC Partners Credit’s significant capital base and distribution reach. We look forward to working together to capitalize on new transaction opportunities.”

About BC Partners Credit

BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit www.bcpartners.com/credit-strategy.

About KingsRock:

KingsRock Advisors LLC headquartered at 900 Third Avenue, New York, NY 10022, is an independent global advisory firm, with securities offered by KingsRock Securities LLC, a FINRA member firm and SIPC, as well as KingsRock Advisors UK Ltd and KingsRock Advisors Europe AB, both wholly owned subsidiaries of KingsRock Advisors LLC.

Founded in 2020, KingsRock comprises a team of approximately 30 professionals who advise on a wide range of private capital markets transactions including debt, hybrid, equity and M&A covering structures from vanilla to highly structured. The team collectively has worked on thousands of transactions across various industry sectors worldwide. Clients include private equity and private credit firms, corporations, financial institutions, government-related entities, and institutional investors.

KingsRock Advisors offers the experience and global reach of a large firm, combined with the structural agility and creativity of a boutique. An independent advisory firm with a global network that provides objective strategic and financial advisory services, along with innovative capital solutions and special situations. The firms’ bankers excel in complex transactions and deliver swift results often where large banks and traditional sources of financing do not have the ability to engage. KingsRock Advisors operates across all major industry sectors and is supported by a global network of 115 independent Senior Advisors across 45 countries, who bring decades of deal making experience.

Disclaimer:

Securities offered by KingsRock Securities LLC, a FINRA, member firm and a member of SIPC, a wholly owned subsidiary of KingsRock Advisors LLC , 900 Third Avenue, 10th Floor, New York, NY 10022.

KingsRock Advisors UK Ltd is a private limited company registered in England and Wales with registration number 15240371. KingsRock Advisors UK Ltd (FRN 1006329) is an Appointed Representative under Bluegrove Capital Management Ltd (FRN: 960363), which is authorized and regulated by the Financial Conduct Authority.

KingsRock Advisors Europe AB is incorporated in Sweden (EU), with registered office at Grev Turegatan 14, 114 46 Stockholm, Sweden, and is a tied agent of Svensk Värdepappersservice i Stockholm AB, a Swedish investment firm authorized and regulated by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) under the Swedish Securities Market Act (Sw. lag (2007:528) om värdepappersmarknaden).

This message is provided for information purposes and does not constitute an invitation, solicitation or offer to buy or sell any securities or investment. Neither KingsRock Securities LLC nor its affiliates provide accounting, tax or legal advice; such matters should be discussed with your advisors and/or counsel.

Press Inquiries

For KingsRock
Info@kingsrock.com

For BC Partners
Daniel Yunger / James Hartwell
Kekst CNC
bcpartnersus@kekstcnc.com

The MIL Network –

March 7, 2025
MIL-OSI USA: North Dakota Tourism Celebrates Record Growth in 2024

Source: US State of North Dakota

The North Dakota Department of Commerce Tourism and Marketing Division reports a strong year for tourism in North Dakota, despite a slowing economy and waning consumer spending.

“Through strategic marketing, industry partnerships and the momentum of our ‘HELLO’ campaign we continue to see growth, despite being outspent by our competitors,” said Tourism and Marketing Director Sara Otte Coleman.”

North Dakota saw an 8.8% increase in airport arrivals, a 10.2% rise in border crossings, and 7.4 million U.S. domestic road trips. Hotel revenues climbed to $548 million, a 5.8% increase, while tax receipts for accommodations and food services surpassed $2.2 billion. A 2024 study with Longwoods International confirmed that visitors are staying longer and engaging in more activities, outpacing national averages in outdoor recreation, sports tourism, and special events.

North Dakota’s ‘HELLO’ campaign, now in its third year, continues to expand awareness with a $4.2 million media budget, generating 438 million media impressions through strategic advertising and partnerships. Marketing efforts resulted in 132 million digital impressions and 17 million video views, while website traffic soared with a 30% increase in users and significant growth in visitor engagement.

Media outreach and influencer collaborations have strengthened North Dakota’s image, resulting in 3,429 media placements and an audience reach of 6.1 billion. Social media engagement continues to rise, with an 83% increase in web traffic referrals. The state’s abundant wide-open spaces, coupled with welcoming communities, have successfully showcased North Dakota’s scenic beauty and ease of access.

North Dakota Tourism looks forward to building on this momentum in 2025 and beyond. To view the 2024 Annual Report, visit https://www.commerce.nd.gov/tourism-marketing/research-and-reports.

MIL OSI USA News –

March 7, 2025
MIL-OSI USA: ICYMI: Senator Marshall Joins Fox Business to Discuss Tariffs, President Trump’s Joint Address Before Congress, and DOGE

US Senate News:

Source: United States Senator for Kansas Roger Marshall
Washington – U.S. Senator Roger Marshall, M.D. (R-Kansas) joined Charles Payne with Fox Business today to discuss President Donald Trump’s tariffs strategy, the President’s address before Congress, and the actions taken by the Department of Government Efficiency (DOGE).
[embedded content]
You may click HERE or on the image above to watch Senator Marshall’s full Fox Business interview.
On President Trump’s Tariffs Strategy
“First and foremost, my farmers and ranchers are patriots. There’s not a county in Kansas that has not been impacted by fentanyl poisoning, and that’s why they’re willing to stand beside President Trump and secure our borders, and that Canada and Mexico can do more than just that.
“Beyond that, though, there are so many more levers that President Trump can pull. We’ve been through this with him before. In Trump 1.0, he did these tariffs on China, and like he just said, he went out and gave us $28 billion of those tariffs. But then he gave us China phase one – record sales in the commodities as well.
“And then he went on in that Presidency, and he gave us trade agreements, really good trade agreements for agriculture, with Mexico, with Canada, with South Korea, and Japan. There are opportunities out there.
“And lastly, the other two levers he can pull if he gives us year-round E15, that could replace two-thirds of our export market for corn. And lastly, he can give us the certainty of a 5-year Farm Bill. So, there’s other things he can do besides just the tariffs. Don’t look at the tariffs in them in and of themselves.”
On the President’s Address Before a Joint Session of Congress
“I think the President has given us hope. For the first time in five years, since I found out what COVID was and Joe Biden became President, for the first time, America has hope again. We’re bullish on America, that we can leave this world better than we found it, that we can go to places that we never thought we could go to, not just going to Mars. There are so many more things, instead of our country contracting…
“I think we walked out of there excited, [I’m] disappointed that my colleagues across the aisle couldn’t stand. They couldn’t stand for the First Lady. They couldn’t stand for a young boy that had survived brain cancer and was deputized into the Secret Service, and the other families as well.”
On DOGE’s Impact So Far
“I told Elon today he’s not going fast enough. And I think I got a little laugh out of him. I’ve gotten to know Elon a little bit better over the last four or five years. I think the first thing I want to let Americans know is he’s a patriot now too. That’s kind of my theme of the day. He’s a patriot, that he’s all in, he’s doing a great job.
“The big misconception I think people see out there is that Elon is not in there doing the work. He’s an advisor. There are DOGE employees who went through the federal government employment process like everybody else, and they’re just in there, shining a flashlight on the fraud, waste, abuse, and incompetence…
“He’s had a great success in the past. I think there’s an opportunity to curb 10, 15, 20% of this federal government. And you know what would really help our farmers, is if the federal government to stop borrowing money and get our interest rates down. That’s what would really help my farmers.”

MIL OSI USA News –

March 7, 2025
MIL-OSI Global: Modern workplaces were never designed for mothers, and it’s time for that to change
Source: The Conversation – Canada – By Erica Pimentel, Assistant Professor, Smith School of Business, Queen’s University, Ontario

Close to 80 per cent of mothers work outside the home, yet they are are consistently paid less for their work and passed up for job opportunities.

A recent survey from the United States found that two-thirds of mothers considered leaving the workforce in 2024 due to the stress and cost of child care — an issue most pronounced among Gen Z mothers, with 82 per cent reporting these concerns.

Our recent research study calls for recognition of the physical and emotional toll of motherhood on women at work. The essay draws on a combination of personal experience and academic research to examine situations where mothers are pulled between work and family obligations.

We found that many working mothers are faced with the impossible trade-off of balancing full-time work with full-time mothering. It’s no wonder that many mothers feel like they don’t belong in the workplace.

An impossible trade-off

The demands of the modern workplace are at odds with contemporary expectations of motherhood. Today, mothers spend twice as much time with their children as they did in the 1970s.

Contemporary mothers are expected to practise “intensive mothering,” a parenting style that requires them to be intimately involved in the minutiae of their children’s lives, like attending multiple after-school activities.

On the other hand, professional workplaces are becoming increasingly demanding of all workers. American sociologist Alison Wynn coined the term “everwork” to refer to the “combination of overwork, face time, constant availability, and unpredictability” that have become the norm in professional workplaces.

The demands of the modern workplace are at odds with contemporary expectations of motherhood.
(Vitolda Klein/Unsplash)

Wynn refers to mothers as “tightrope walkers” trying to balance personal and professional responsibilities under the conditions of everwork, with the potential to fall at any time. Worse still, mothers who try to reconcile their personal and professional obligations by leveraging flexible working options are often penalized with more intense workloads and lost opportunities for professional development.

The simultaneously increasing demands of motherhood and professional life are untenable. Women are expected to work in spaces where performance expectations are simply inconsistent with the reality of family life. Naturally, this is taking a toll: almost half of Canadian mothers report they’ve reached their “breaking point,” meaning they feel overworked, overwhelmed and undervalued.

Struggling to fit into workplaces

Not only do many women believe workplaces are hostile to motherhood, but many also feel that their bodies are not welcome there. Societal norms dictate how women should look and dress at work.

This stress only intensifies during pregnancy. Sociologist David J. Hutson explains how pregnant women oscillate between concealing their bodies in early pregnancy to learning how to deal with unwanted comments and uninvited touching in later maternity.

Many pregnant women are expected to endure this uncomfortable behaviour as a form of emotional labour, a term coined by U.S. sociologist Arlie Hochschild to describe the way women are taught to manage their emotions to make others feel better.

Many mothers feel like their bodies are not welcome in the workplace.
(Shutterstock)

Although laws exist to protect pregnant women from discrimination, this doesn’t prevent colleagues from engaging in practices that make pregnant women feel like they do not belong.

Many mothers also struggle with the physical realities of having a postpartum body in the workplace, such as dealing with leaky breast milk overflows from engorged breasts, unpredictable menstrual cycles and other postpartum changes. While some workplaces provide breastfeeding spaces, this is far from the norm, leaving women to adapt to the rhythms and spaces of the office on their own.

Even long after giving birth, women must remain attentive of their appearance at work. Researchers shows that women who look too “mothering” risk being taken less seriously at work. Dressing like a mom is sometimes used as an insult to describe women who choose an easy to manage hairstyle, don’t wear makeup or prioritize comfort over fashion when choosing their clothes.

Women are expected to control and manage their bodies to conform to workplace norms before, during and after pregnancy — expectations that are at odds with their biology.

Making workplaces work for mothers

As experts in motherhood and mothers ourselves, we are adamant that things need to change. Our recent research outlined a three-pillar call to action to make workplaces more inclusive and equitable toward mothers.
1. Enlist allies and resist negative attitudes about motherhood. Much of modern motherhood has become a logistical battle. Workplaces should implement institutional policies that recognize these logistical challenges, such as a four-day work week or flexible hours. Mothers must also build strong support networks, especially in places like the workplace where positions of power are often occupied by those who aren’t mothers.
2. Recognize the physical toll of mothering and normalize maternal bodies. Workplaces must break down taboos surrounding maternal bodies by creating dedicated spaces for breastfeeding and breast pumping, and running awareness campaigns to normalize these needs. Workplaces should also hire more women — particularly mothers — into leadership roles. When maternal bodies become a common and accepted presence at work, they will no longer be a subject of scrutiny.
3. Recognize the emotional cost of mothering. The emotional burden of parenting, like imbuing children with good values and guiding their decision-making, is the most taxing part about being a parent. Workplaces should acknowledge this by redesigning performance evaluations to account for the time and energy needed for caregiving. This could also mean considering parental and caregiving roles in annual performance evaluation criteria.
Mothers and those who care about them must come together to demand better workplace conditions, not just for mothers, but for others as well. Only through collective action can we create lasting change.

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

– ref. Modern workplaces were never designed for mothers, and it’s time for that to change – https://theconversation.com/modern-workplaces-were-never-designed-for-mothers-and-its-time-for-that-to-change-250584
MIL OSI – Global Reports –
March 7, 2025
MIL-OSI USA: SBA Relief Still Available to West Virginia Small Businesses and Private Nonprofits Affected by April Storms

Source: United States Small Business Administration

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in West Virginia of the April 3, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the severe storms, flooding, landslides and mudslides occurring on April 11-12, 2024.

The disaster declaration covers the counties of Boone, Brooke, Calhoun, Clay, Doddridge, Fayette, Hancock, Harrison, Jackson, Kanawha, Lincoln, Logan, Marion, Marshall, Monongalia, Nicholas, Ohio, Pleasants, Putnam, Raleigh, Ritchie, Roane, Tyler, Wetzel, Wirt, Wood and Wyoming in West Virginia, as well as Athens, Belmont, Columbiana, Jefferson, Meigs, Monroe and Washington in Ohio, and Beaver, Greene and Washington in Pennsylvania. 

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

 “SBA loans help eligible small businesses and PNPs cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.” 

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The deadline to return economic injury applications is April 3, 2025.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

MIL OSI USA News –

March 7, 2025
MIL-OSI USA: Administrator Loeffler Announces SBA Reforms to Put American Citizens First

Source: United States Small Business Administration

WASHINGTON — Today, U.S. Small Business Administration Administrator Kelly Loeffler announced a series of reforms to put American citizens first by ending taxpayer benefits for illegal aliens and moving SBA offices out of sanctuary cities. These actions support President Trump’s agenda to secure our borders – which has already resulted in the lowest rates of illegal border crossings in history.

In the coming days, the SBA will promulgate a new policy requiring SBA loan applications to include a citizenship verification provision to ensure only legal, eligible applicants can access SBA programs. Lenders will be required to confirm that applicant businesses are not owned in whole or in part by an illegal alien, consistent with President Trump’s executive order ending the taxpayer subsidization of open borders.

Additionally, the SBA will relocate six of its regional offices currently in municipalities that do not comply with U.S. Immigration and Customs Enforcement. Over the coming months, the Atlanta, Boston, Chicago, Denver, New York City, and Seattle regional offices will be moved to less costly, more accessible locations that better serve the small business community and comply with federal immigration law.

“Over the last four years, the record invasion of illegal aliens has jeopardized both the lives of American citizens and the livelihoods of American small business owners, who have each become victims of Joe Biden’s migrant crime spree. Under President Trump, the SBA is committed to putting American citizens first again – starting by ensuring that zero taxpayer dollars go to fund illegal aliens,” Administrator Loeffler said.

“Today, I am pleased to announce that this agency will cut off access to loans for illegal aliens and relocate our regional offices out of sanctuary cities that reward criminal behavior. We will return our focus to empowering legal, eligible business owners across the United States – in partnership with the municipalities who share this Administration’s commitment to secure borders and safe communities.”

Under the last Administration, lax guardrails allowed illegal aliens to both apply for and get approved for SBA assistance. In June 2024, the agency approved a $783,000 loan application for a small business that was 49% owned by an illegal alien. Last month, under the leadership of this Administration, an internal SBA audit identified the illegal status of the individual and halted the loan from being disbursed – ensuring that $0 was distributed to the business.

# # #

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

MIL OSI USA News –

March 7, 2025
MIL-OSI USA: Cantwell-Led Coast Guard Reauthorization Bill Unanimously Passes Senate

US Senate News:

Source: United States Senator for Washington Maria Cantwell
03.06.25
Cantwell-Led Coast Guard Reauthorization Bill Unanimously Passes Senate
Bill would authorize USCG “Whale Desk” for additional 2 years to help ships steer clear of Puget Sound Orcas and other whales; Legislation would establish first-ever tribal advisor to increase collaboration with WA state tribes on native issues and conservation efforts
WASHINGTON, D.C. – Today, the United States Senate unanimously passed the Coast Guard Reauthorization Act of 2025 that would reauthorize $30.45 billion for the U.S. Coast Guard for Fiscal Years 2025 and 2026. The bill was introduced last month by U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee.
The bill now heads to the House of Representatives for consideration.
Ahead of the bill’s passage, Sen. Cantwell delivered a speech on the Senate floor:
“The Coast Guard Authorization Act of 2025 provides the tools that our Coast Guard needs now to protect our shores, keep our maritime [industry] moving,” said Sen. Cantwell. “It includes [investments] in Base Seattle, the home port to our nation’s current icebreakers, the future of our heavy icebreaker fleet […] The bill also reauthorizes the Puget Sound Whale Desk for another two years, [which] helps ship steer clear of our cherished orca and whale populations, and it also increases collaboration between Washington tribes and the Coast Guard. And the bill invests in critical safety programs.”
“Moving forward, we have more to do to support the Coast Guard. They needed our help with their assets, and they need access to shipyards,” she said.
Among many important provisions, the legislation includes historic protections for service members from sexual assault and harassment, boosts workforce development programs and availability of affordable housing, increases funding to help the U.S. Coast Guard deliver on critical priorities such as icebreakers and 52-foot heavy-weather lifeboats, raises penalties for abandoned and derelict vessels, and encourages more collaboration with tribes.
The legislation authorizes $14.93 billion for FY25 and $15.51 billion for FY26. The full bill text of the bipartisan U.S. Coast Guard Authorization Act of 2025 is available HERE.
Sen. Cantwell secured language for programs critical to Washington state in the legislation. Among those provisions, her bipartisan legislation:
Expands Affordable Housing Opportunities: Allows the Coast Guard to acquire housing that is available both on the market and in new housing construction programs. This is particularly important in coastal areas — like Cape Disappointment, Grays Harbor, and Port Angeles — where Coast Guard families face a difficult time accessing affordable, quality housing due to competition with seasonal rentals and other challenges associated with remote units. This bill also expands the Coast Guard’s ability to enter into long-term leases for medical facilities, child development centers, and training facilities to expand access to services for Coast Guard families while reducing administrative overhead expenses and allowing for additional improvements to these facilities.
Increases Federal Funding to Deliver on Icebreakers and Heavy Weather Lifeboats: The legislation increases authorized funding by 30% compared to 2024 appropriated funding levels, which will help the Coast Guard deliver on critical priorities such as polar icebreakers, 52-foot heavy-weather lifeboats, and other priority acquisition programs.
Seattle will be home for the Coast Guard’s fleet of 3 polar icebreakers.
Sen. Cantwell recently toured U.S. Coast Guard Station Disappointment, where the future fleet of heavy-weather lifeboats will be homeported to support search and rescue missions, which is critical to safety of people working in the fishing and maritime sector in Pacific and Grays Harbor counties. In 2023, Sen. Cantwell secured a downpayment of $12 million to replace the heavy-weather boats in the 2023 Appropriations Act.
Creates the First-Ever Tribal Advisor: Creates a new senior position within the Coast Guard to advise the Commandant and other Coast Guard leaders on how the Coast Guard can work more closely with tribes. The new Special Advisor would also be charged with ensuring the Coast Guard upholds trust responsibilities to tribal governments, improving tribal engagement and consultation activities, and ensuring that tribes have a voice on Coast Guard programs that impact tribes including oil spill preparedness and response, fisheries oversight, and the protection of natural resources.
Boosts Local Tribal Partnerships to Improve Conservation: Provides the Coast Guard with new authorities to support habitat conservation and other resilience projects with state, local, and tribal governments. This important new authority would ensure tribes and other organizations can partner with the Coast Guard to protect treaty fishing rights and maintain access to cultural and natural resources.
Reauthorizes the Whale Desk: Extends the Whale Desk at Coast Guard Sector Puget Sound by two years, through FY2028. Authored by Senator Cantwell in the Coast Guard Reauthorization Act of 2022, the “Whale Desk” at Sector Puget Sound gives vessel operators and mariners near real-time data about the location of whales to reduce encounters that disturb whales, including noise pollution and ship strikes. The pilot program also includes a “hotline” where callers can report whale sightings in real time. The data collected will be valuable for researchers who track whale migration patterns.
According to the Coast Guard, 75 whale sightings have been reported to the Sector Puget Sound Whale Desk since its opening in December 2023.
Sen. Cantwell helped celebrate the launch of the Whale Desk in February 2024. Photos and videos are available HERE and HERE.
Supports the Commercial Fishing and Maritime Industries: Continues to authorize the use of a satellite tracking system to mark fishing gear locations, which ensures gear is not lost and avoids potential damage by derelict gear. It also supports fishing vessels engaging in temporary towing operations as part of salmon hatchery development in Alaska. The bill also creates new training and credentialing opportunities for qualified mariners, veterans, and the general public seeking to become mariners. It also expedites processing times for merchant mariner licensing documents to help close this critical workforce gap.
Maps Arctic Maritime Routes: The Bering Sea is expected to see increased fishing, commercial, and other vessel traffic over the coming decades. As a key international trade and maritime route, this bill requires an analysis of projected traffic in the Bering Strait, and the emergency response capabilities and infrastructure needed to support this increased vessel traffic and prevent oil spills in the Bering Sea and the Arctic.
Boosts International Pacific Cooperation: Requires the Coast Guard to develop a plan to increase international training opportunities in the Pacific, including with the Taiwan Coast Guard. This coordination will strengthen American relations, combat illegal fishing, and boost international security in the Pacific.
Cracks Down on Abandoned Vessels: Improves oversight of derelict and abandoned vessels by requiring the Coast Guard to develop and maintain an inventory list of these vessels to improve tracking, management, and coordination between federal, state, tribal, and other relevant entities. It authorizes a new federal penalty of $500 a day for abandoning vessels.
Abandoned and derelict vessels pose unique and costly threats to coastal communities and ecosystems by leaking pollutants and imperiling marine traffic. According to the WA Department of Natural Resources, DNR removed 319 derelict and abandoned boats from Washington state waterways between 2021 and 2023.
Protects Personnel from Illicit Drug/Fentanyl Exposure: As the Coast Guard carries out important drug interdiction missions to stop the flow of illegal drugs, this bill requires all installations to maintain a supply of naloxone or similar medication to treat opioid or fentanyl overdoses or exposure by Coast Guard members and the public in search and rescue or response calls.
Requires Stronger Sexual Assault and Sexual Harassment (SASH) Prevention and Response: The bill would establish or update numerous Coast Guard and Academy authorities and programs to improve reporting, oversight, prevention, and accountability related to sexual misconduct. These provisions were drafted in response to Operation Fouled Anchor, which revealed gross mishandling of sexual assault and sexual harassment cases of U.S. Coast Guard personnel.
A full breakdown of these protections is available HERE.
Supports Coast Guard Families Stationed in Washington:
Creates the First Vice Admiral of Personnel: To support the more than 40,000 active service members, the bill establishes a new Vice Admiral leadership position solely focused on supporting the needs of personnel and their families, from housing to health care, investments in childcare, and improving recruitment and training programs.
Jump Starts Hiring of Health and Family Service Providers Across Entire Service: Provides direct hiring authority to swiftly fill more than a hundred vacancies, including behavioral and mental health professionals, medical specialists, childcare service providers, housing supervisors, criminal investigators, and other positions to protect the health and wellbeing of Coast Guard members and their families. It also adds two new telemedicine rooms at the Coast Guard Academy.
Improves College-to-Service Career Pathways: Updates the College Student Pre-Commissioning Program to allow more colleges and universities to participate and to increase recruitment of students interested in commissioning into a Coast Guard career.
Prepares Tsunami Evacuation Plans: Requires the development of tsunami evacuation and preparedness plans for Coast Guard units in tsunami zones, including across the West Coast and Pacific Northwest. It also requires the Coast Guard to consider vertical evacuation as a lifesaving option for Coast Guard members.
Bolsters National Oceanic and Atmospheric Administration (NOAA)
Supports NOAA Corps Officers: To support the hundreds of NOAA’s commissioned officers, the bill makes improvements to personnel management, education assistance programs, pilot recruitment programs, and more. NOAA Corps members help manage maritime research, support disaster response, and monitor weather forecasting including hurricanes and atmospheric rivers, as well as performing other cutting-edge weather forecast and research needs.
Modernizes NOAA Vessel Fleet: Authorizes replacement and modernization of the NOAA research vessel fleet and improves oversight of the fleet, which helps maintain our nation’s weather and scientific buoy network, conducts fisheries research, maps the ocean floor including in the Arctic, and supports other important oceanographic and conservation priorities.
Removes Aging NOAA Vessels: Allows NOAA to use the proceeds of obsolete vessel sales to support the acquisition or repair of other NOAA vessels to help make the fleet more resilient in the future.
Video of Sen. Cantwell’s speech on the Senate floor today is HERE; audio is HERE; and a transcript is HERE.

MIL OSI USA News –

March 7, 2025
MIL-OSI Economics: FYAI: The role of responsible AI with Microsoft Chief Product Officer Sarah Bird

Source: Microsoft

Headline: FYAI: The role of responsible AI with Microsoft Chief Product Officer Sarah Bird

AI is transforming the business world, enabling companies to enhance productivity, streamline operations, and deliver personalized customer experiences. At Microsoft, our mission is to empower every person and every organization on the planet to achieve more, and that means leading this transformation with innovative AI solutions built responsibly that drive real impact in your organization.

Beyond the tools that empower businesses to shape their future with AI in a rapidly evolving market, our leaders at Microsoft are shaping our own organization with this technology. In this series, FYAI, we’ll highlight leaders from around Microsoft that are driving forces in our AI strategy for their unique perspective on our AI transformation; for your AI information, if you will.

Insights from Sarah Bird, Chief Product Officer (CPO) of Responsible AI

In this edition, we hear from Sarah Bird, Microsoft’s Chief Product Officer (CPO) of Responsible AI, ahead of her appearance at South by Southwest (SXSW) where she’ll be discussing the evolving safety practices for generative AI.

In this Q&A session, Sarah shares her insights on various aspects of responsible AI, including her journey and dedication to responsible AI, her role as Chief Product Officer, the importance of integrating responsible AI early in the development process, and her insights on future AI breakthroughs and their safety implications.

Let’s explore Sarah Bird’s experiences and perspectives on the evolving landscape of AI and discover how Microsoft is building trustworthy AI systems.

Empower responsible AI practices with Microsoft

FYAI: Responsible AI with Sarah Bird

Who influenced you to pursue a career in responsible AI?

“For me, it’s less about who influenced me to pursue this career and more about who I’m helping every day through my work. AI is one of the most empowering technologies we have, but we can’t unlock its full potential without solving for responsible AI. That’s what makes this work so important—it’s about ensuring AI is safe and beneficial for everyone. And to do that, we have to work across boundaries. It reminds me of my grad school days—responsible AI is the ultimate group project, bringing together technology, society, and law to tackle these complex challenges in a meaningful way.”

What does the role of chief product officer, responsible AI, actually mean? Tell us what your day-to-day looks like.

“No two days are the same, and that’s what keeps me energized. At the core, my team is focused on three key things: spotting new risks, figuring out how to tackle them—especially when they’re things we’ve never seen before—and making sure our solutions are scalable so others can apply them easily. That framework guides us, but the reality is, AI is evolving fast. So a big part of our work is staying nimble—triaging issues in real-time, applying what we learn in practice, and adapting quickly to test and deploy new systems. It’s a mix of strategy and problem-solving, which is what makes it exciting.”

Where are you noticing gaps in companies’ implementation of AI safety practices?

“It’s been really inspiring to see how much more mature customers are getting with their responsible AI roadmaps and deployment. There’s real progress happening. That said, people are still learning, and the level of maturity varies across industries—some are further along than others. If there’s one thing I could shout from the rooftops, it’s that responsible AI can’t be an afterthought. It needs to be built into the entire development process from the start, not just bolted on at the end. It’s about putting all the pieces together to create a complete, responsible AI lifecycle.”

Grow Your Business with AI You Can Trust

When do you think the next AI breakthrough is going to happen and what does that mean for safeguards?

“As an engineer, I’m focused on problem-solving rather than predicting when the next big breakthrough will happen. But I will say—it’s an exciting journey, especially with the pace of innovation. And while we still need another major leap before we can talk about the reality of what’s next, what’s really exciting about this space is that the breakthrough isn’t just the technology itself—it’s how we apply it. The real magic happens at the intersection of tech and people, and figuring out how to bridge that responsibly is what makes this work so fascinating.”

Why do you feel safety and innovation go hand in hand?

“A goal of ours as a company is to help people do more with AI. We are constantly pushing the boundaries of what’s possible and doing so in a safe, trusted way. As I’ve said, safety is not just a ‘nice to have’ bolted on at the end of a project, but a critical piece of developing high-quality AI systems. I look at safety issues as a measure of quality – is your AI performing as well as it should be? We can’t innovate and drive meaningful progress if we don’t solve for this.”

2025 AI Decision Brief

Gain insights from thought leaders at Microsoft to advance AI and drive consistent AI value in your org

Learn more about Microsoft’s responsible AI work

At Microsoft, we’re committed to the responsible advancement and use of AI. Our approach is guided by principles that ensure AI development maximizes benefits and minimizes potential harms. We incorporate responsible AI practices from the beginning by training our employees to evaluate risks and collaborating with experts to review and test technologies.

We believe that advancing safe, secure, and trustworthy AI requires a mix of industry commitments, policies, and global governance. Responsible AI is an ongoing journey that involves continuous learning and collaboration.

Sarah Bird is at the forefront of ensuring that AI technologies are developed and deployed responsibly, and her team is dedicated to building tools that test AI systems rigorously to ensure they work as intended and are safe, inclusive, and beneficial for everyone. As she highlights, by integrating responsible AI practices from the start, we can unlock the full potential of AI while maintaining the highest standards of safety and innovation.

Want to learn more?

MIL OSI Economics –

March 7, 2025
MIL-OSI USA: Luján, Rosen, Markey Introduce Legislation to Prevent the Political Weaponization of the FCC, Protect First Amendment

US Senate News:

Source: United States Senator Ben Ray Luján (D-New Mexico)
Luján Bill Comes Amid FCC Probes Into Broadcasters That Were Previously Dismissed
Washington, D.C. – Today, U.S. Senator Ben Ray Luján (D-N.M.), Ranking Member of the Commerce Subcommittee on Telecommunications and Media, and U.S. Senators Jacky Rosen (D-Nev.) and Edward J. Markey (D-Mass.) announced the introduction of the Broadcast Freedom and Independence Act, legislation that would prohibit the Federal Communications Commission (FCC) from revoking broadcast licenses or taking action against broadcasters based on the viewpoints they broadcast. The legislation would reaffirm the importance of the independence of the FCC, including that the President should not mandate the FCC’s agenda. U.S. Representatives Doris Matsui (D-Calif.), Nanette Barragán (D-Calif.), and Jennifer McClellan (D-Va) lead companion legislation in the House.
“The Trump administration’s weaponization of the FCC and intimidation of broadcast stations for political purposes is a serious threat to the First Amendment,” said Senator Luján. “The FCC and the President should not hold the power to revoke broadcasting licenses and censor free speech simply because they disagree with the viewpoints that are broadcasted. That is why I’m proud to lead this legislation to make it clear that the FCC operates independent of any political agenda. Free speech and freedom of the press is a pillar of our democracy, and I am committed to defending it from politically motivated attacks.”
“A free and independent press is a foundational part of defending the first amendment and ensuring Americans have access to information,” said Congresswoman Matsui. “It is clear President Trump intends to use every available avenue to intimidate and silence broadcast media that challenges his viewpoints. The weaponization of the FCC to launch baseless attacks on NPR and PBS show exactly the bullying tactics Donald Trump will use to censor dissent. That’s why Senator Luján and I are introducing this legislation that will ensure our media is protected from government attacks no matter their point of view.”
Specifically, the Broadcast Freedom and Independence Act would:
Explicitly state that the FCC is an independent agency and that they must not use their authority to execute politically motivated attacks against licensees.
Prohibit the FCC from taking action (including revoking any license or authorization) against any person based on the viewpoints disseminated.
Prohibit the FCC from placing conditions based on viewpoint disseminated on any transaction approval.
This bill has no effect on the FCC’s authority to take action on violations explicitly outlined in other sections of the Communications Act, including with regard to obscenity, lottery, fraud, or incitement under the First Amendment.
“When Congress created the FCC, it had witnessed firsthand how fascist governments in Europe used control of radio broadcasting to spread propaganda and suppress the free press. Determined to prevent that from happening in America, Congress established the FCC as an independent agency to safeguard press freedom. For nearly a century, the FCC has upheld this mission. But now, the current Chair has abandoned this long-standing tradition, turning the agency into a tool for the President’s agenda of press intimidation and suppression of criticism. It is a national tragedy that such a bill is even necessary. However, Public Knowledge applauds Senator Luján for standing up to the Administration’s bullying and giving defenders of a free press a cause to rally behind,” said Harold Feld, Senior Vice President of Public Knowledge.
“The First Amendment prohibits the government, including the FCC, from dictating what content the media covers and how they cover it. It is this freedom of the press that enables us to hold our government accountable when they overreach. Efforts to retaliate against the press for the viewpoints they express is not only unconstitutional, but will make all of us less informed about the world we live in. We thank Senator Lujan for introducing the Broadcast Freedom and Independence Act to protect freedom of the press,” said Jenna Leventoff, Senior Policy Counsel, American Civil Liberties Union.
“This bill sends exactly the right message, at a time of remarkable danger for freedom of the press in this country. Just a few years ago, Brendan Carr was an FCC commissioner proclaiming that newsroom decisions about how to frame stories should be beyond the reach of government bureaucrats like him. Now, he is our chief censor, eager to threaten those very same newsrooms any time Donald Trump snaps his fingers. Free Press Action thanks Senator Luján, Representatives Matsui, Barragan, and McClellan, and all members supporting this legislation,” said Matt Wood, Vice President of Policy at Free Press Action.
Senator Luján’s introduction of the Broadcast Freedom and Independence Act follows his call to FCC Chair Carr to stop the weaponization of FCC in light of recent attacks against both broadcasters and public media.
The legislation is supported by the American Civil Liberties Union, Public Knowledge, and Free Press Action.
Full bill text is available here.

MIL OSI USA News –

March 7, 2025
MIL-OSI: Unlock More Profits with BexBack: 100% Deposit Bonus, 100x Leverage, and $50 New User Reward

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 06, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now offers a 100% deposit bonus, a $50 welcome bonus for new users, and up to 100x leverage on cryptocurrency trading—all with No KYC requirements—providing excellent opportunities for investors.

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Simply put, 100x leverage allows you to open larger trading positions with less capital. For example:

Suppose the Bitcoin price is $100,000 that day, and you open a long contract with 1 BTC. After using 100x leverage, the transaction amount is equivalent to 100 BTC.

One day later, if the price rises to $105,000, your profit will be (105,000 – 100,000) * 100 BTC / 100,000 = 5 BTC, a yield of up to 500%.

With BexBack’s deposit bonus

BexBack offers a 100% deposit bonus. If the initial investment is 2 BTC, the profit will increase to 10 BTC, and the return on investment will double to 1000%.

Note: Although leveraged trading can magnify profits, you also need to be wary of liquidation risks.

How Does the 100% Deposit Bonus Work?
The deposit bonus from BexBack cannot be directly withdrawn but can be used to open larger positions and increase potential profits. Additionally, during significant market fluctuations, the bonus can serve as extra margin, effectively reducing the risk of liquidation.

About BexBack?

BexBack is a leading cryptocurrency derivatives platform that offers 100x leverage on BTC, ETH, ADA, SOL, XRP, and 50 other major cryptocurrencies for futures contracts.. It is headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. It holds a US MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. Accepts users from the United States, Canada, and Europe. There are no deposit fees, and traders can get the most thoughtful service, including 24/7 customer support.

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Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/00ac4535-e3ca-4334-bdce-ac33f4a1e348

https://www.globenewswire.com/NewsRoom/AttachmentNg/a5ce6730-6fb5-4dde-a009-9efae0b63c57

https://www.globenewswire.com/NewsRoom/AttachmentNg/3ca93fb1-0583-4cdf-9cc3-8efc74fbcf01

https://www.globenewswire.com/NewsRoom/AttachmentNg/8280afdb-96a3-4c40-af77-85f38a38b58f

The MIL Network –

March 7, 2025
MIL-OSI Economics: Secretary-General of ASEAN presides over the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening delivered closing remarks at the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025, in Phnom Penh, Cambodia, held under the theme “Accelerating ASEAN’s Connectivity: People, Infrastructure, and Trade.” In his remarks, SG Dr. Kao highlighted the importance of building ASEAN’s future prosperity through robust infrastructure and regional connectivity, trade and investment, as well as investing in human capital.

Download the full remarks here.

The post Secretary-General of ASEAN presides over the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025 appeared first on ASEAN Main Portal.

MIL OSI Economics –

March 7, 2025
MIL-OSI Economics: Secretary-General of ASEAN Attends Gala Dinner of the Cambodia-ASEAN Business Summit 2025

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening attended the Gala Dinner of the Cambodia-ASEAN Business Summit 2025, held at Sofitel Phnom Penh Phokeethra. Participants in the Gala Dinner were prominent government officials, business leaders, industry experts, and key stakeholders, who gathered together to celebrate and strengthen economic ties within the region. Hosted by H.E. Dr. Say Sam Al, Deputy Prime Minister and Minister of Land Management, Urban Planning and Construction of Cambodia, the Gala Dinner underscored the importance of fostering regional collaboration and driving sustainable economic growth across ASEAN.

The post Secretary-General of ASEAN Attends Gala Dinner of the Cambodia-ASEAN Business Summit 2025 appeared first on ASEAN Main Portal.

MIL OSI Economics –

March 7, 2025
MIL-OSI United Kingdom: Nuclear safeguards: AUKUS statement to the IAEA Board of Governors, March 2025

Source: United Kingdom – Executive Government & Departments 3

Speech

Nuclear safeguards: AUKUS statement to the IAEA Board of Governors, March 2025

UK Ambassador Corinne Kitsell’s statement on behalf of Australia, the UK and the US to the International Atomic Energy Agency Board of Governors meeting on IAEA safeguards and AUKUS

Chair,

I take the floor on behalf of Australia, the United Kingdom, and the United States to respond to disinformation about Australia’s acquisition of a naval nuclear propulsion capability through the AUKUS partnership. We are once again compelled to invoke our Right of Reply to address remarks that purposefully mischaracterise AUKUS and attempt to undermine the independence, integrity, and authority of the IAEA.

I reiterate that this item has not been adopted as a standing agenda item by this Board and has never enjoyed consensus support, despite one member state’s introduction every Board. This repeated attempt to add an agenda item distracts from other pressing concerns requiring the Board’s attention and falsely implies an active compliance problem where none exists. AUKUS partners will provide an update on Australia’s acquisition of conventionally armed, nuclear-powered submarines under ‘Any Other Business’, consistent with our practice of providing updates to every regular meeting of the Board since 2021.

Director General Grossi has repeatedly expressed his satisfaction with AUKUS partners’ engagement and transparency and has upheld his commitment to update the Board on naval nuclear propulsion, including through his report published last November. Ever since the initial announcement of the partnership, the AUKUS partners have continued to engage consistently, openly, and transparently with Member States and the Secretariat on genuine questions.

Chair,

Under this item, the Board has repeatedly heard unsubstantiated claims that ignore or misrepresent the information we have provided in good faith, and assertions that disregard the statements made by the Director General. I would like to remind the Board that:

With regards to an intergovernmental dialogue, the IAEA has the clear authority under its Statute, and extensive precedent, to negotiate directly and in-confidence with individual Member States on the establishment and application of safeguards and verification arrangements. Interference would politicise the IAEA’s independence, its mandate and technical authority, and establish a deeply harmful precedent.

I also want to underline that the transfer of high enriched uranium from a nuclear-weapon State to a non-nuclear-weapon State does not run counter to the NPT or its spirit. The transfer of nuclear material at any enrichment level among States Parties is not prohibited by the NPT, provided the transfer is carried out in a manner consistent with any relevant safeguards obligations. Australia’s conventionally armed, nuclear-powered submarine program will be subject to a robust package of verification measures, consistent with its longstanding non-proliferation obligations.

Naval nuclear propulsion was indeed foreseen by the drafters of the NPT. Article 14 of the IAEA’s model Comprehensive Safeguards Agreement – on which Australia’s CSA is based – is the specific provision to support the right of states to use nuclear material in a non-proscribed military activity, including for naval nuclear propulsion, within the legal framework for safeguards implementation.

As we have regularly stated, under Australia’s Article 14 arrangement, the IAEA will maintain oversight of nuclear material and meet its technical safeguards objectives throughout the submarines’ lifecycle. Once the Article 14 arrangement is agreed between Australia and the IAEA Secretariat, the Director General will transmit it to the Board for ‘appropriate action’. To suggest that the Board will somehow be bypassed is false.

With regards to the AUKUS Naval Nuclear Propulsion Agreement, I want to underline that it reaffirms, and is consistent with, the parties’ existing non-proliferation obligations, including under the NPT. The Agreement obliges the UK and US to ensure that Australia can provide the IAEA with other information and access necessary to fulfil Australia’s obligations under its safeguards agreements with the IAEA and the future Article 14 arrangement.

Chair,

Our three countries – along with the majority of the Board – continue to oppose any proposal for this item to be a standing agenda item or any efforts that undermine and politicise the technical mandate of the IAEA. We appreciate that colleagues continue to reject deliberate attempts to undermine the Agency’s independence and integrity.

We will continue to engage in good faith with Member States on genuine questions. Consistent with our approach to maintaining open and transparent engagement, we will provide an update to the Board under ‘Any Other Business’ and welcome the Director General’s continued commitment to provide updates on naval nuclear propulsion, as and when he deems appropriate.

Thank you, Chair.

Updates to this page

Published 6 March 2025

MIL OSI United Kingdom –

March 7, 2025

Category: Commerce

Addressing the Digital Dilemma Head-On with Strategic Partnerships and Programs:

Showcasing the importance of offline connections at the Verizon Arcade Unplugged:

Tools that help provide peace of mind in a digital world:

IWAI signs MoU with J&K to boost river cruise tourismMoU signed on the sidelines of Chintan Shivir being held in Srinagar in presence of Union Minister Shri Sarbananda Sonowal

India’s AI RevolutionA Roadmap to Viksit Bharat

INDIAN YOUTH WILL PIONEER INNOVATION AND RESEARCH ON GLOBAL STAGE: LOK SABHA SPEAKERWOMEN AND YOUTH OF INDIA WILL BE TRAILBLAZERS OF TRANSFORMATION ACROSS THE WORLD: LOK SABHA SPEAKER

An impossible trade-off

Struggling to fit into workplaces

Making workplaces work for mothers

Insights from Sarah Bird, Chief Product Officer (CPO) of Responsible AI

FYAI: Responsible AI with Sarah Bird

Who influenced you to pursue a career in responsible AI?

What does the role of chief product officer, responsible AI, actually mean? Tell us what your day-to-day looks like.

Where are you noticing gaps in companies’ implementation of AI safety practices?

When do you think the next AI breakthrough is going to happen and what does that mean for safeguards?

Why do you feel safety and innovation go hand in hand?

2025 AI Decision Brief

Learn more about Microsoft’s responsible AI work

Want to learn more?

Nuclear safeguards: AUKUS statement to the IAEA Board of Governors, March 2025

Updates to this page

IWAI signs MoU with J&K to boost river cruise tourism

MoU signed on the sidelines of Chintan Shivir being held in Srinagar in presence of Union Minister Shri Sarbananda Sonowal

India’s AI Revolution

A Roadmap to Viksit Bharat

INDIAN YOUTH WILL PIONEER INNOVATION AND RESEARCH ON GLOBAL STAGE: LOK SABHA SPEAKER

WOMEN AND YOUTH OF INDIA WILL BE TRAILBLAZERS OF TRANSFORMATION ACROSS THE WORLD: LOK SABHA SPEAKER