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Category: Economy

  • MIL-OSI USA: As Crucial House Vote Looms, Rural Hospital CEOs Make Final Plea to House GOP: Avoid Medicaid Cuts That Will Cost Lives and Burden Local Communities

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.21.25
    As Crucial House Vote Looms, Rural Hospital CEOs Make Final Plea to House GOP: Avoid Medicaid Cuts That Will Cost Lives and Burden Local Communities
    NEW: 23 Republican WA state legislators join letter to full WA federal delegation, urging them to protect Medicaid
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Finance Committee, joined Washington state health care professionals to highlight statewide alarm and opposition to proposed Medicaid cuts.
    “The House Republicans are now trying to cobble together what I believe is a serious attack on Medicaid, and these will have impacts across our economy,” said Sen. Cantwell. “It undermines the program by shifting the burden to the states and making the entire healthcare system more expensive.”
    “If you cut Medicaid, and you cut people on Medicaid, they’re not going to stop having health care needs,” added Sen. Cantwell. “They’re just going to go to a more expensive, unfunded setting to get that care. Medicaid provides the critical financial support for the healthcare sector and for our economies to keep going every day.”
    Matt Kollman, CEO of Skyline Hospital in White Salmon, warned that the cuts would endanger the survival of rural hospitals, and ultimately the health of rural residents.
    “You don’t just have the opportunity, when you live in White Salmon, to drive a few blocks extra and go to the next hospital,” Kollman said. “You’re talking about a drive that in the best of conditions might be 60 or 90 minutes. That is a disruptive burden for many families, and it would lead to their delay, or possible just outright deferral of health care altogether. And to me, that’s not acceptable.”
    “I also know that it’s not acceptable to other members of our community,” added Kollman. “Recently, I was able to present Senator Cantwell and Representative Newhouse with a letter that was signed by many elected officials and community members, including Republicans, elected Republicans in my district and throughout the state, who are asking Congress to be very careful about what they do with Medicaid. To consider the consequences, to be very thoughtful, and to understand that you’re messing with something that is a very intimate and relied on part of people’s lives every day.”
    Also today, 23 Republican members of the Washington state legislature sent a letter to the entire Washington state federal Congressional delegation, urging the delegation to “protect Medicaid funding for Washington State.”
    This week, the Republican-led U.S. House Budget Committee held a rare weekend meeting late Sunday night as part of the effort to rush to the floor a reconciliation bill containing over $700 billion in cuts and significant changes to Medicaid, the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. Then, early this morning, the House Rules Committee began a meeting at 1 a.m. – when most Americans were asleep – since GOP House leadership have indicated their intent to bring the reconciliation bill and its draconian cuts to the floor for a final vote as soon as later today.   
    Republican proposals include imposition of work requirements and new restrictions on who can receive long-term care support from Medicaid.
    Other participants at the virtual presser were
    •            Rashad Collins, CEO, Neighborcare Health (Community Health Center with over 20 Seattle-area clinics)
    •            Kym Clift, CEO, TriState Health (Clarkston, WA)
    •            Lynn Kimball, Executive Director at Aging & Long Term Care of Eastern Washington
    •            Dr. Rachel Issaka, gastroenterologist and clinical researcher, Fred Hutchinson Cancer Center
    •            Jacquiline Blanco, RN, a Seattle-area perinatal obstetric nurse and Public Policy Committee member at the Association of Women’s Health, Obstetric, and Neonatal Nurses
    Video of the event is available HERE and a transcript of Sen. Cantwell’s opening remarks is available HERE.
    Also today, Sen. Cantwell delivered a speech on the Senate floor, warning of the impacts to state economies and budgets if the Republican proposal becomes law. Video of her floor speech is available HERE and a transcript is available HERE.
    Medicaid, known as Apple Health in Washington state, covers over 1.9 million Washingtonians. On May 2, Sen. Cantwell released a snapshot report highlighting the impact that Medicaid cuts would have on Washington state’s highly-ranked long-term care system for seniors and people with disabilities. In February, she additionally released a snapshot report that demonstrated how cuts would harm health care access in Washington state, and followed up with a report in March that dove into impacts on the Puget Sound region.
    Highlights of those snapshot reports include:
    In Washington state, WA-04 (Central Washington) and WA-05 (Eastern Washington) have the highest proportions of adults and total population on Medicaid (Apple Health). In District 4, 70% of children are on Medicaid.
    In the Puget Sound, children in Seattle’s blue-collar strongholds would feel the deepest pain from Medicaid cuts. More than half of children in Burien, SeaTac, Kent, Federal Way, Auburn, Renton, and Rainier Valley depend on Medicaid.
    In an exclusive new survey of 68 WA nursing homes, 67 of 68 would cut services if Medicaid were cut by 5% or more, and 65% would consider closing.
    Over the past two months, Sen. Cantwell also took a tour around the state to hear from folks who would be directly impacted by cuts to Medicare. Doctors, patients, and health care providers in Seattle, Spokane, the Tri-Cities, and Wenatchee warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.

    MIL OSI USA News –

  • MIL-OSI USA: Pelosi on House Floor: “This is Robin Hood in Reverse”

    Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

    Washington, D.C. – Tonight, Speaker Emerita Nancy Pelosi delivered remarks on the Floor of the House of Representatives in opposition to the Republicans’ bill that cuts Medicaid by $700 billion, which she condemned as a cruel attack on working families, vulnerable children and Americans with disabilities.

    Speaker Emerita Pelosi highlighted how the Republican Reverse Robin Hood plot would rip health care away from millions of Americans—including seniors, veterans and low-income families—just to finance tax breaks for billionaires and add trillions to the national debt while devastating communities across the country.

    Watch Speaker Emerita Pelosi’s remarks here. 

    Read Speaker Emerita Pelosi’s full remarks below:

    Speaker Emerita Pelosi. Thank you very much. Mr. Speaker, I’m pleased to receive time from the distinguished Congresswoman from Washington state. She is a pediatrician. We have all learned a lot about how public policy has a direct impact on the good—the health and well-being—of the American people.

    And when I hear them talk about cutting over $700 billion in Medicaid and it’s just ‘waste, fraud and abuse’… this beautiful child is not waste, fraud and abuse. I will talk about a little child in my remarks who is not waste, fraud and abuse.

    This Special Order comes together to shine a bright light on the Republican plan to fund tax breaks for billionaires by making huge cuts to Medicaid. Now, that’s what it looks like. But the fact is, they will still—with their tax bill—be adding over nearly $4 trillion to the national debt to cover their tax break for the wealthiest people in our country.

    This is fiscal engineering to reduce the role of government in the lives of the American people—where it is most needed. Where it is most needed.

    This is Robin Hood in reverse. Taking resources from where it is most needed—the people who need it most—and giving it to those who need it least: the billionaires in America.

    This is shameful. And it is a fraud. And it’s a shame.

    Now, President Johnson reminded the American people when he signed Medicare and Medicaid. He traveled to Independence, Missouri, to be in the presence of President Truman—former President Truman—who had worked on this when he was President. But it came to fruition under President Johnson. And he went there, and he signed the bill in the presence of Harry Truman.

    And he said – the President reminded the American people of a shared tradition: ‘Never to be indifferent toward despair. Never to turn away from helplessness. Never to ignore or spurn those who suffer unattended in a land that is bursting with abundance.’

    Indeed, Medicare and Medicaid save lives as a pillar of health security and justice for tens of millions of Americans.

    People often think of Medicaid as health care for poor children. That would be justification enough—health care for poor children.

    But it also is a middle-income benefit for nursing home residents, and people needing it for long-term care services. They get that largely through Medicaid. And it’s also a benefit for people with disabilities.

    The Republicans’ devastating budget plan would push about 14 million Medicaid recipients off life-saving health care, and leave countless vulnerable families exposed to catastrophic medical bills.

    This is terrible. Because this is about health, and financial health, that is being devastated.

    Working families and children in low-income households would face ruinous consequences—as would rural hospitals, as the distinguished Congresswoman has mentioned, families seeking opioid addiction treatment for their loved ones and middle-class Americans with long-term care needs.

    Mr. Speaker, I ask unanimous consent to insert a statement from the California Medical Association into the record. This is what they have said—the California Medical Association President issued the following statement regarding House Republicans’ proposed care cuts in Medicaid:

    ‘The latest federal proposal to gut Medicaid is reckless. Physicians and hospitals will be pushed to the brink, forced to close their doors and unable to continue care for their patients.’

    Because you know, when this funding leaves those rural hospitals—not only do the Medicaid patients lose—but all of the patients in that area lose. That’s my objection here.

    Back to the statement:

    ‘These would be the largest Medicaid cuts in history and will leave veterans, seniors, the disabled, children and working families without health care coverage.’

    As the distinguished physician colleague has said, making emergency rooms the only point of care for millions of people. Communities will be devastated. Lives will be lost.

    This is the CMA: ‘Congress must reject these cuts and instead focus on strengthening the safety net that protects us all. Otherwise, at least 13.7 million people will lose health care coverage.’

    Republican attacks on health care impact real people—including little children.

    My guest at the President’s State of the Union address was Elena Hung, mother of Xiomara, a courageous little lobbyist—11 years old.

    She has complex medical needs—including chronic lung disease, chronic kidney disease, and global developmental delays. She has a tracheostomy, uses a ventilator, is oxygen-dependent, and uses a feeding tube.

    Access to quality, affordable care ensured that Xiomara received the care she needed during extended hospitalization, and can now live at home with her family.

    Medicaid has helped Xiomara receive the therapies she needs to catch up with her developmental milestones—including physical therapy, occupational therapy, feeding therapy and speech therapy.

    But these very lifelines from Medicaid and more are what Republicans are working to destroy—to give a tax cut for billionaires.

    Democrats are standing strong against the Administration’s many attacks against family health care. This is just one of them.

    And with this Special Order—thank you, doctor, colleague—we are calling out Republicans to either vote to protect their constituents’ health care or vote to take it away.

    That’s the choice.

    In stark contrast to the President and Republicans in Congress, Democrats will always fight to lower health care costs. We are unified and ready to use every tool to stop this GOP scheme.

    And we will always work to strengthen pillars of health and financial security in America. That includes Social Security, Medicare, and Medicaid. We will always fight for Medicaid.

    I just want to go back to that one thing: they’re still adding nearly $4 trillion to the national debt to give tax breaks to their wealthy billionaire friends.

    In the bill that they passed when Trump was president—oh, there, I said his name—and the Republicans were in power. When the Republicans passed that bill and the President signed it into law, 83% of the benefits went to the top 1%, adding $2 trillion to the national debt.

    They’re doubling down on that—getting to almost $4 trillion to the national debt—and saying, ‘We’ve got to give all this money to billionaires,’ and calling children ‘waste, fraud, and abuse’ in our Medicaid system.

    It’s really sinful. It’s really sad.

    And it is something that I hope the Republicans will reject. And I hope their constituents will call them. Because these Medicaid people are in Republican districts.

    One of our colleagues in California has, out of all of our constituents, he has nearly 500,000 people on Medicaid—and yet he voted with the Republicans on this.

    Well, you can be sure he’ll be hearing from his constituents. Because people know.

    And I’ll close by saying—Lincoln said: ‘Public sentiment is everything. With it, you can accomplish almost anything. Without it, practically nothing.’

    But for public sentiment to prevail, people have to know.

    And we are making sure that your constituents know—and that they are informing you of their knowledge of what you are doing.

    Reverse Robin Hood. Republican Reverse Robin Hood.

    Thank you very much for the opportunity to share some thoughts about this—and for sharing the story of this beautiful little girl.

    Thank you. I yield back.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Stay warmer for cheaper this winter

    Source: PISA results continue to show more to be done for equity in education

    Date:

    Burn good, dry wood

    Good quality, dry wood will get and keep your fire roaring. However, not all woods are equal. Some burn hotter and produce less smoke. Plantation pine, Douglas fir and blue gum are the best locally available timbers, while old man pine can be smoky, and is best suited for kindling or mixed with other woods.

    A great way to get your firewood is to buy from one of our Trusted Good Wood Merchants. We audit these Waitaha/Canterbury firewood sellers regularly to ensure they’re selling good, dry wood; moisture testing is part of our audit process. 

    Plantation pine, Douglas fir and blue gum are quicker-drying woods.

    Check your burning technique

    Using good wood burning technique makes a big difference. Many of us were taught to build a fire in a pyramid shape, with kindling on the bottom and big logs on the top. But the upside-down method (also known as the Swiss method), with big logs on the bottom and kindling on top, lasts longer and is more efficient. Check out this step by step guide to learn how to burn better.

    A well-maintained burner

    If you keep your wood burner well maintained and the flue/chimney clean you will decrease your chances of a smoky chimney. Do not burn treated timber, driftwood or rubbish, as these can clog your chimney and increase pollution in the air. A buildup of chimney soot can also be a fire risk (the kind of fire you don’t want!) and reduce the burner’s efficiency. Check out this handy burner maintenance checklist for more good advice. 

    Financial assistance

    We know it’s a tough time out there for many people, and, if you meet the criteria, you may be eligible for financial assistance towards the cost of a new heat pump, ultra-low emission burner, or insulation upgrades.

    If you have any questions or want to find out more, phone us on 0800 324 636.

    Environment Canterbury © 2025
    Retrieved: 10:49am, Thu 22 May 2025
    ecan.govt.nz/get-involved/news-and-events/2025/stay-warmer-for-cheaper-this-winter/

    MIL OSI New Zealand News –

  • MIL-OSI: CORRECTION — LiveRamp Announces Fourth Quarter and Fiscal Year 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 21, 2025 (GLOBE NEWSWIRE) — In a release issued earlier today under the same headline by LiveRamp (NYSE: RAMP), please note the GAAP operating income and Non-GAAP operating income for the first quarter of fiscal 2026 and fiscal 2026 were stated incorrectly. The corrected release follows:

    Q4 Revenue up 10% year-over-year

    FY25 Operating Cash Flow increases 46% year-over-year

    FY25 Share Repurchases totaled $101 million

    LiveRamp® (NYSE: RAMP), a leading data collaboration platform, today announced its financial results for the quarter and fiscal year ended March 31, 2025.

    Q4 Financial Highlights1

    • Total revenue was $189 million, up 10%.
    • Subscription revenue was $145 million, up 9%.
    • Marketplace & Other revenue was $44 million, up 14%.
    • GAAP gross profit was $131 million, up 5%. GAAP gross margin of 69% compressed by 3 percentage points. Non-GAAP gross profit was $136 million, up 5%. Non-GAAP gross margin of 72% compressed by 3 percentage points.
    • GAAP operating loss was $12 million compared to $14 million. GAAP operating margin of negative 6% expanded by 2 percentage points. Non-GAAP operating income was $23 million compared to $16 million. Non-GAAP operating margin of 12% expanded by 3 percentage points.
    • GAAP diluted loss per share was $0.10 and non-GAAP diluted earnings per share was $0.30.
    • Net cash provided by operating activities was $63 million compared to $28 million.
    • Share repurchases in the fourth quarter totaled approximately 950 thousand shares for $25 million.

    Fiscal Year Financial Highlights1

    • Total revenue was $746 million, up 13%.
    • Subscription revenue was $569 million, up 11%, and represented 76% of total revenue.
    • Marketplace & Other revenue was $177 million, up 21%.
    • GAAP gross profit was $530 million, up 10%, and GAAP gross margin of 71% compressed by 2 percentage points. Non-GAAP gross profit was $550 million, up 12%, and non-GAAP gross margin of 74% compressed by 1 percentage point.
    • GAAP operating income was $5 million compared to $11 million. GAAP operating margin of 1% compressed by 1 percentage point. Non-GAAP operating income was $136 million compared to $105 million. Non-GAAP operating margin of 18% expanded by 2 percentage points.
    • GAAP diluted loss per share was $0.01, and non-GAAP diluted EPS was $1.70.
    • Net cash provided by operating activities was $154 million compared to $106 million.
    • Share repurchases in fiscal 2025 totaled approximately 3.8 million shares for $101 million. As of March 31, 2025, there was $256 million in remaining capacity under the share repurchase authorization that expires on December 31, 2026.

    A reconciliation between GAAP and non-GAAP results is provided in the schedules to this press release.

    Commenting on the results, CEO Scott Howe said: “We had a strong finish to fiscal 2025, with fourth quarter revenue and operating income exceeding our expectations, revenue growing at a double-digit rate and operating cash flow reaching a record high. As we enter fiscal 2026, more so than ever, we are focused on controlling what we can control: Making our platform faster and easier to use; rolling out new functionality, such as our new Cross Media Intelligence measurement solution; helping customers optimize ad spend by harnessing the power of our Data Collaboration Network; and, finally, prudently managing our own costs and growth investments. The near-term macro environment may be uncertain, but we remain confident that in the long-run we can drive sustained growth and shareholder value creation.”

    GAAP and Non-GAAP Results
    The following table summarizes the Company’s financial results for the fiscal 2025 fourth quarter and full year ended March 31, 2025 ($ in millions, except per share amounts):

           
      GAAP   Non-GAAP
      Q4 FY25 FY25   Q4 FY25 FY25
    Subscription revenue $145 $569   — —
    YoY change 9% 11%   — —
    Marketplace & Other revenue $44 $177   — —
    YoY change 14% 21%   — —
    Total revenue $189 $746   — —
    YoY change 10% 13%   — —
               
    Gross profit $131 $530   $136 $550
    % Gross margin 69% 71%   72% 74%
    YoY change (3 pts) (2 pts)   (3 pts) (1 pt)
               
    Operating income (loss) ($12) $5   $23 $136
    % Operating margin (6%) 1%   12% 18%
    YoY change 2 pts (1 pt)   3 pts 2 pts
               
    Net earnings (loss) ($6) ($1)   $20 $115
    Diluted earnings (loss) per share ($0.10) ($0.01)   $0.30 $1.70
               
    Shares to calculate diluted EPS 66.0 66.1   67.5 67.5
    YoY change (1%) (3%)   (1%) (1%)
               
    Net operating cash flow $63 $154   — —
    Free cash flow — —   $62 $153
               
    Totals may not sum due to rounding.
     
     

    A detailed discussion of our non-GAAP financial measures and a reconciliation between GAAP and non-GAAP results is provided in the schedules attached to this press release.

    Additional Business Highlights & Metrics

    • On February 25 we hosted an investor day presentation in San Francisco. The video replay, slide presentation and transcript are available on our investor relations website. Additionally, please see our investor day recap that highlights 10 interesting slides from the presentation, available here.
    • On February 25-27 we hosted our annual customer and partner conference, RampUp, in San Francisco, bringing together more than 2,500 leaders at the intersection of marketing, technology and data science. The event featured product demonstrations and 40+ panels and presentations featuring 110 leaders from some of the largest brands in the world, including Disney, Home Depot, P&G and Uber – to name a few. Video replays of these sessions are available here and an event recap for investors is available here.
    • On February 25 we announced Cross-Media Intelligence, a new capability that enables marketers to better measure and optimize campaigns anywhere their customers are. LiveRamp’s Cross-Media Intelligence is a premier solution for next-generation cross-media measurement, unifying insights across partners and datasets, and delivering actionable, repeatable insights with unmatched speed and precision. With Cross-Media Intelligence, marketers for the first time can access unified, deduplicated reporting across screens and platforms (additional information).
    • On April 22 Google announced that it will no longer roll out a new standalone prompt for consumers to opt-in to third-party cookie tracking on Chrome. LiveRamp’s mission remains the same: Enable best-in-class addressable reach and connectivity across every consumer experience by continuing to develop the largest and most useful data collaboration network. We will use cookies to extend reach on Chrome, while continuing to invest and expand our authenticated ecosystem across cookieless browsers (Safari, Firefox, and Edge), direct publisher integrations, CTV, mobile/gaming, and new AI integrations. Please see our blog post for additional information.
    • On March 6 we announced a workforce restructuring involving approximately 5% of our full-time employees. The restructuring is part of a broader strategic reprioritization to build a stronger, more profitable company by tightening our focus and simplifying and driving efficiency into our business processes. In the fourth quarter we incurred $7.2 million of restructuring and related charges primarily related to employee severance and benefits.
    • LiveRamp ended the year with 128 customers whose annualized subscription revenue exceeds $1 million, compared to 115 in the prior year.
    • LiveRamp ended the year with 840 direct subscription customers, compared to 900 in the prior year.
    • Fourth quarter subscription net retention was 104% and platform net retention was 106%.
    • Fourth quarter annualized recurring revenue (ARR), which is the last month of the quarter fixed subscription revenue annualized, was $504 million, up 8% compared to the prior year period.
    • Current remaining performance obligations (CRPO), which is contracted and committed revenue expected to be recognized over the next 12 months, was $471 million, up 14% compared to the prior year period.

    Financial Outlook

    LiveRamp’s non-GAAP operating income guidance excludes the impact of non-cash stock compensation, purchased intangible asset amortization, and restructuring and related charges.

    For the first quarter of fiscal 2026, LiveRamp expects to report:

    • Revenue of $191 million, an increase of 9%
    • GAAP operating income of $6 million
    • Non-GAAP operating income of $33 million

    For fiscal 2026, LiveRamp expects to report:

    • Revenue of between $787 million and $817 million, an increase of between 6% and 10%
    • GAAP operating income of between $85 million and $89 million
    • Non-GAAP operating income of between $178 million and $182 million

    Conference Call

    LiveRamp will hold a conference call today at 1:30 p.m. PT (4:30 p.m. ET) to further discuss this information. Interested parties are invited to listen to a webcast of the conference, which can be accessed on LiveRamp’s investor site. A slide presentation will be referenced during the call and is available here.

    About LiveRamp

    LiveRamp is a leading data collaboration technology company, empowering marketers and media owners to deliver and measure marketing performance everywhere it matters. LiveRamp’s data collaboration network seamlessly unites data across advertisers, platforms, publishers, data providers, and commerce media networks—unlocking deep insights, delivering transformational consumer experiences, and driving measurable growth.

    Built on a foundation of strict neutrality, interoperability, and global scale, LiveRamp enables organizations to maximize the value of their data while accelerating innovation. Trusted by many of the world’s leading brands, retailers, financial services providers, and healthcare innovators, LiveRamp is helping shape the future of responsible data collaboration in an AI-driven, outcomes-focused world where advertisers reach intended audiences and consumers receive more relevant advertising messages.

    LiveRamp is headquartered in San Francisco, California, with offices worldwide. Learn more at LiveRamp.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “PSLRA”). Forward-looking statements are often identified by words or phrases such as “anticipate,” “estimate,” “plan,” “expect,” “believe,” “intend,” “foresee,” or the negative of these terms or other similar variations thereof, but the absence of these words does not mean that a statement is not forward-looking. These statements, which are not statements of historical fact, include, but are not limited to, the Company’s guidance regarding revenue, GAAP operating loss and Non-GAAP operating income for the first quarter and full year of fiscal 2026 and other similar estimates, assumptions, forecasts, projections and expectations regarding market position, product development, growth opportunities, economic conditions and other future events and trends.

    These forward-looking statements are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause the Company’s actual results and experiences to differ materially from the anticipated results and expectations expressed in the forward-looking statements.

    Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in forward-looking statements are economic uncertainties that could impact us or our suppliers, customers and partners, including, geo-political circumstances, including risk related to tariffs and other trade restrictions, the possibility of a recession, general inflationary pressure and high interest rates; the ability and willingness of our customers to renew their agreements with us upon their expiration; our ability to add new customers and upsell within our subscription business; our reliance upon partners, including data suppliers, who may withdraw or withhold data from us; increased competition and rapidly changing technology that could impact our products and services; the risk that we fail to realize the potential benefits of or have difficulty integrating acquired businesses; and our inability to attract, motivate and retain talent. Additional risks include maintaining our culture and our ability to innovate and evolve while operating in a hybrid work environment, with some employees working remotely at least some of the time within a rapidly changing industry, while also avoiding disruption from reductions in our current workforce as well as disruptions resulting from acquisition, divestiture and other activities affecting our workforce. Our global workforce strategy could possibly encounter difficulty and not be as beneficial as planned. Our international operations are also subject to risks, including the performance of third parties as well as impacts from war and civil unrest, that may harm the Company’s business. The risk of a significant breach of the confidentiality of the information or the security of our or our customers’, suppliers’, or other partners’ data and/or computer systems, or the risk that our current insurance coverage may not be adequate for such a breach, that an insurer might deny coverage for a claim or that such insurance will continue to be available to us on commercially reasonable terms, or at all, could be detrimental to our business, reputation and results of operations. Other business risks include unfavorable publicity and negative public perception about our industry; interruptions or delays in service from data center or cloud hosting vendors we rely upon; and our dependence on the continued availability of third-party data hosting and transmission services. Our clients’ ability to use data on our platform could be restricted if the industry’s use of third-party cookies and tracking technology declines due to technology platform changes, regulation or increased user controls. Continued changes in the judicial, legislative, regulatory, accounting, cultural and consumer environments affecting our business, including but not limited to litigation, investigations, legislation, regulations and customs at the state, federal and international levels relating to information collection and use represents a risk, as well as changes in tax laws and regulations that are applied to our customers which could cause enterprise software budget tightening. In addition, third parties may claim that we are infringing their intellectual property or may infringe our intellectual property which could result in competitive injury and / or the incurrence of significant costs and draining of our resources.

    For a discussion of these and other risks and uncertainties that could affect LiveRamp’s business, reputation, results of operation, financial condition and stock price, please refer to LiveRamp’s filings with the U.S. Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of LiveRamp’s most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings.

    The financial information set forth in this press release reflects estimates based on information available at this time.

    LiveRamp assumes no obligation and does not currently intend to update these forward-looking statements.

    To automatically receive LiveRamp financial news by email, please visit www.LiveRamp.com and subscribe to email alerts.

    For more information, contact:

    LiveRamp Investor Relations
    Investor.Relations@LiveRamp.com

    LiveRamp® and RampID™ and all other LiveRamp marks contained herein are trademarks or service marks of LiveRamp, Inc. All other marks are the property of their respective owners.

    ________________________
    1 Unless otherwise indicated, all comparisons are to the prior year period.

                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the three months ended March 31,
              $ %
      2025     2024     Variance Variance
                 
    Revenues 188,724     171,852     16,872   9.8 %
    Cost of revenue 57,929     47,722     10,207   21.4 %
    Gross profit 130,795     124,130     6,665   5.4 %
    % Gross margin 69.3 %   72.2 %      
                 
    Operating expenses            
    Research and development 45,926     45,161     765   1.7 %
    Sales and marketing 56,961     60,476     (3,515 ) (5.8 )%
    General and administrative 32,175     30,252     1,923   6.4 %
    Gains, losses and other items, net 7,241     2,516     4,725   187.8 %
    Total operating expenses 142,303     138,405     3,898   2.8 %
                 
    Loss from operations (11,508 )   (14,275 )   2,767   19.4 %
    % Margin (6.1 )%   (8.3 )%      
                 
    Total other income, net 4,762     5,070     (308 ) (6.1 )%
    Loss from continuing operations before income taxes (6,746 )   (9,205 )   2,459   26.7 %
    Income tax benefit (479 )   (3,027 )   2,548   84.2 %
    Net earnings from continuing operations (6,267 )   (6,178 )   (89 ) (1.4 )%
                 
    Earnings from discontinued operations, net of tax –     805     (805 ) (100.0 )%
                 
    Net loss (6,267 )   (5,373 )   (894 ) (16.6 )%
                 
    Basic loss per share:            
    Continuing operations (0.10 )   (0.09 )   (0.00 ) (2.0 )%
    Discontinued operations 0.00     0.01     (0.01 ) (100.0 )%
    Basic loss per share (0.10 )   (0.08 )   (0.01 ) (17.3 )%
                 
    Diluted loss per share:            
    Continuing operations (0.10 )   (0.09 )   (0.00 ) (2.0 )%
    Discontinued operations 0.00     0.01     (0.01 ) (100.0 )%
    Diluted loss per share (0.10 )   (0.08 )   (0.01 ) (17.3 )%
                 
    Basic weighted average shares 65,957     66,323        
    Diluted weighted average shares 65,957     66,323        
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the twelve months ended March 31,
              $ %
      2025     2024     Variance Variance
                 
    Revenues 745,580     659,661     85,919   13.0 %
    Cost of revenue 215,910     179,489     36,421   20.3 %
    Gross profit 529,670     480,172     49,498   10.3 %
    % Gross margin 71.0 %   72.8 %      
                 
    Operating expenses            
    Research and development 176,668     151,201     25,467   16.8 %
    Sales and marketing 213,106     195,693     17,413   8.9 %
    General and administrative 126,499     110,166     16,333   14.8 %
    Gains, losses and other items, net 7,993     11,708     (3,715 ) (31.7 )%
    Total operating expenses 524,266     468,768     55,498   11.8 %
                 
    Income from operations 5,404     11,404     (6,000 ) (52.6 )%
    % Margin 0.7 %   1.7 %      
                 
    Total other income, net 17,436     22,957     (5,521 ) (24.0 )%
    Income from continuing operations before income taxes 22,840     34,361     (11,521 ) (33.5 )%
    Income tax expense 25,342     24,270     1,072   4.4 %
    Net earnings (loss) from continuing operations (2,502 )   10,091     (12,593 ) (124.8 )%
                 
    Earnings from discontinued operations, net of tax 1,688     1,790     (102 ) (5.7 )%
                 
    Net earnings (loss) (814 )   11,881     (12,695 ) (106.9 )%
                 
    Basic earnings (loss) per share:            
    Continuing operations (0.04 )   0.15     (0.19 ) (124.8 )%
    Discontinued operations 0.03     0.03     (0.00 ) (5.5 )%
    Basic earnings (loss) per share (0.01 )   0.18     (0.19 ) (106.9 )%
                 
    Diluted earnings (loss) per share:            
    Continuing operations (0.04 )   0.15     (0.19 ) (125.5 )%
    Discontinued operations 0.03     0.03     (0.00 ) (3.1 )%
    Diluted earnings (loss) per share (0.01 )   0.17     (0.19 ) (107.0 )%
                 
    Basic weighted average shares 66,126     66,266        
    Diluted weighted average shares 66,126     67,918        
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2025     2024     2025     2024
                   
    Income (loss) from continuing operations before income taxes (6,746 )   (9,205 )   22,840     34,361
    Income tax expense (benefit) (479 )   (3,027 )   25,342     24,270
    Net earnings from continuing operations (6,267 )   (6,178 )   (2,502 )   10,091
    Earnings from discontinued operations, net of tax –     805     1,688     1,790
    Net earnings (loss) (6,267 )   (5,373 )   (814 )   11,881
                   
    Basic earnings (loss) per share (0.10 )   (0.08 )   (0.01 )   0.18
    Diluted earnings (loss) per share (0.10 )   (0.08 )   (0.01 )   0.17
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,135     3,097     14,415     8,785
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708
    Transformation costs (general and administrative) —     —     —     1,875
    Total excluded items from continuing operations 34,542     30,393     130,387     93,672
                   
    Income from continuing operations before income taxes and excluding items 27,796     21,188     153,227     128,033
    Income tax expense (2) 7,759     3,947     38,296     29,882
    Non-GAAP net earnings (loss) from continuing operations 20,037     17,241     114,931     98,151
                   
    Non-GAAP earnings per share from continuing operations              
    Basic 0.30     0.26     1.74     1.48
    Diluted 0.30     0.25     1.70     1.45
                   
    Basic weighted average shares 65,957     66,323     66,126     66,266
    Diluted weighted average shares 67,479     68,471     67,499     67,918
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    (2) Non-GAAP income taxes were calculated by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusting for discrete tax items in the period. The differences between our GAAP and non-GAAP effective tax rates were primarily due to the net tax effects of the excluded items, coupled with the valuation allowance and smaller pre-tax income for GAAP purposes.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2025     2024     2025     2024  
                   
    Income (loss) from operations (11,508 )   (14,275 )   5,404     11,404  
    Operating income (loss) margin (6.1 )%   (8.3 )%   0.7 %   1.7 %
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,135     3,097     14,415     8,785  
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304  
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708  
    Transformation costs (general and administrative) –     –     –     1,875  
    Total excluded items 34,542     30,393     130,387     93,672  
                   
    Income from operations before excluded items 23,034     16,118     135,791     105,076  
    Non-GAAP operating income margin 12.2 %   9.4 %   18.2 %   15.9 %
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF ADJUSTED EBITDA (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2024     2023     2024     2023  
                   
    Net earnings (loss) from continuing operations (6,267 )   (6,178 )   (2,502 )   10,091  
    Income tax expense (benefit) (479 )   (3,027 )   25,342     24,270  
    Total other expense, net (4,762 )   (5,070 )   (17,436 )   (22,957 )
                   
    Income (loss) from operations (11,508 )   (14,275 )   5,404     11,404  
    Depreciation and amortization 3,803     3,823     17,207     11,508  
                   
    EBITDA (7,705 )   (10,452 )   22,611     22,912  
                   
    Other adjustments:              
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304  
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708  
    Transformation costs (general and administrative) –     –     –     1,875  
                   
    Other adjustments 31,407     27,296     115,972     84,887  
                   
    Adjusted EBITDA 23,702     16,844     138,583     107,799  
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands)
                 
      March 31   March 31   $ %
      2025     2024     Variance Variance
    Assets            
    Current assets:            
    Cash and cash equivalents 413,331     336,867     76,464   22.7 %
    Restricted cash 595     2,604     (2,009 ) (77.2 )%
    Short-term investments 7,500     32,045     (24,545 ) (76.6 )%
    Trade accounts receivable, net 186,169     190,313     (4,144 ) (2.2 )%
    Refundable income taxes, net 9,708     8,521     1,187   13.9 %
    Other current assets 38,886     31,682     7,204   22.7 %
    Total current assets 656,189     602,032     54,157   9.0 %
                 
    Property and equipment 23,813     25,394     (1,581 ) (6.2 )%
    Less – accumulated depreciation and amortization 17,629     17,213     416   2.4 %
    Property and equipment, net 6,184     8,181     (1,997 ) (24.4 )%
                 
    Intangible assets, net 20,167     34,583     (14,416 ) (41.7 )%
    Goodwill 501,756     501,756     –   – %
    Deferred commissions, net 44,452     48,143     (3,691 ) (7.7 )%
    Other assets, net 30,623     36,748     (6,125 ) (16.7 )%
      1,259,371     1,231,443     27,928   2.3 %
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Trade accounts payable 112,271     81,202     31,069   38.3 %
    Accrued payroll and related expenses 50,776     61,575     (10,799 ) (17.5 )%
    Other accrued expenses 38,586     42,857     (4,271 ) (10.0 )%
    Deferred revenue 45,885     30,942     14,943   48.3 %
    Total current liabilities 247,518     216,576     30,942   14.3 %
                 
    Other liabilities 62,994     65,732     (2,738 ) (4.2 )%
                 
    Stockholders’ equity:            
    Preferred stock –     –     –   n/a
    Common stock 15,918     15,594     324   2.1 %
    Additional paid-in capital 2,045,316     1,933,776     111,540   5.8 %
    Retained earnings 1,313,358     1,314,172     (814 ) (0.1 )%
    Accumulated other comprehensive income 4,295     3,964     331   8.4 %
    Treasury stock, at cost (2,430,028 )   (2,318,371 )   (111,657 ) 4.8 %
    Total stockholders’ equity 948,859     949,135     (276 ) (0.0 )%
      1,259,371     1,231,443     27,928   2.3 %
                 
           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the three months
    ended March 31,
      2025     2024  
    Cash flows from operating activities:      
    Net loss (6,267 )   (5,373 )
    Earnings from discontinued operations, net of tax —     (805 )
    Non-cash operating activities:      
    Depreciation and amortization 3,803     3,823  
    Loss on disposal or impairment of assets 44     6  
    Lease-related impairment and restructuring charges (28 )   (546 )
    Gain on sale of strategic investments (515 )   —  
    Loss on marketable equity securities 206     —  
    Provision for doubtful accounts (453 )   1,947  
    Deferred income taxes (496 )   (498 )
    Non-cash stock compensation expense 24,166     24,780  
    Changes in operating assets and liabilities:      
    Accounts receivable, net 25,187     8,700  
    Deferred commissions 46     (3,971 )
    Other assets 4,703     8,514  
    Accounts payable and other liabilities 11,738     (246 )
    Income taxes (523 )   (7,285 )
    Deferred revenue 969     (1,403 )
    Net cash provided by operating activities 62,580     27,643  
    Cash flows from investing activities:      
    Capital expenditures (293 )   (1,791 )
    Cash paid in acquisitions, net of cash received —     (170,281 )
    Purchases of investments —     (24,509 )
    Proceeds from sales of investments —     25,000  
    Proceeds from sale of strategic investment 763     —  
    Net cash provided by (used in) investing activities 470     (171,581 )
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 202     1  
    Shares repurchased for tax withholdings upon vesting of stock-based awards (1,026 )   (719 )
    Acquisition of treasury stock (25,447 )   (15,177 )
    Net cash used in financing activities (26,271 )   (15,895 )
    Net cash provided by (used in) continuing operations 36,779     (159,833 )
    Cash flows from discontinued operations:      
    From operating activities (798 )   805  
    Net cash provided by (used in) discontinued operations (798 )   805  
    Net cash provided by (used in) continuing and discontinued operations 35,981     (159,028 )
    Effect of exchange rate changes on cash 580     (447 )
           
    Net change in cash, cash equivalents and restricted cash 36,561     (159,475 )
    Cash, cash equivalents and restricted cash at beginning of period 377,365     498,946  
    Cash, cash equivalents and restricted cash at end of period 413,926     339,471  
           
    Supplemental cash flow information:      
    Cash paid for income taxes, net from continuing operations 558     4,905  
    Cash received for income taxes, net from discontinued operations —     (1,258 )
    Cash paid for operating lease liabilities 2,426     2,594  
           
           
    Operating lease assets obtained in exchange for operating lease liabilities —     148  
    Operating lease assets, and related lease liabilities, relinquished in lease terminations (40 )   —  
    Purchases of property, plant and equipment remaining unpaid at period end 20     104  
    Marketable equity securities obtained in disposition of strategic investment 652     —  
    Excise tax payable on net stock repurchases 64     —  
           
           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the twelve months
    ended March 31,
      2025     2024  
    Cash flows from operating activities:      
    Net earnings (loss) (814 )   11,881  
    Earnings from discontinued operations, net of tax (1,688 )   (1,790 )
    Non-cash operating activities:      
    Depreciation and amortization 17,207     11,508  
    Loss on disposal or impairment of assets 85     1,219  
    Lease-related impairment and restructuring charges 14     1,769  
    Gain on sale of strategic investments (515 )   —  
    Loss on marketable equity securities 206     —  
    Provision for doubtful accounts 695     2,254  
    Impairment of goodwill —     2,875  
    Deferred income taxes (447 )   (458 )
    Non-cash stock compensation expense 107,979     71,304  
    Changes in operating assets and liabilities:      
    Accounts receivable, net 3,547     (32,336 )
    Deferred commissions 3,691     (11,113 )
    Other assets 2,105     9,426  
    Accounts payable and other liabilities 3,573     8,508  
    Income taxes 3,430     22,275  
    Deferred revenue 14,897     8,334  
    Net cash provided by operating activities 153,965     105,656  
    Cash flows from investing activities:      
    Capital expenditures (1,042 )   (4,255 )
    Cash paid in acquisitions, net of cash received (1,951 )   (170,281 )
    Purchases of investments (1,967 )   (48,894 )
    Proceeds from sales of investments 26,989     50,750  
    Proceeds from sale of strategic investment 763     —  
    Purchases of strategic investments (1,400 )   (1,000 )
    Net cash provided by (used in) investing activities 21,392     (173,680 )
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 8,833     7,222  
    Shares repurchased for tax withholdings upon vesting of stock-based awards (10,331 )   (5,835 )
    Acquisition of treasury stock (101,198 )   (60,502 )
    Net cash used in financing activities (102,696 )   (59,115 )
    Net cash provided by (used in) continuing operations 72,661     (127,139 )
    Cash flows from discontinued operations:      
    From operating activities 1,688     1,790  
    Net cash provided by discontinued operations 1,688     1,790  
    Net cash provided by (used in) continuing and discontinued operations 74,349     (125,349 )
    Effect of exchange rate changes on cash 106     372  
           
    Net change in cash, cash equivalents and restricted cash 74,455     (124,977 )
    Cash, cash equivalents and restricted cash at beginning of period 339,471     464,448  
    Cash, cash equivalents and restricted cash at end of period 413,926     339,471  
           
    Supplemental cash flow information:      
    Cash paid for income taxes, net from continuing operations 22,548     2,465  
    Cash received for income taxes, net from discontinued operations (2,486 )   (2,765 )
    Cash received for tenant improvement allowances (2,628 )   —  
    Cash paid for operating lease liabilities 9,798     10,293  
           
           
    Operating lease assets obtained in exchange for operating lease liabilities 2,327     11,825  
    Operating lease assets, and related lease liabilities, relinquished in lease terminations (595 )   (4,486 )
    Purchases of property, plant and equipment remaining unpaid at period end 20     104  
    Marketable equity securities obtained in disposition of strategic investment 652     —  
    Excise tax payable on net stock repurchases 128     —  
           
    LIVERAMP HOLDINGS, INC AND SUBSIDIARIES
    CALCULATION OF FREE CASH FLOW (1)
    (Unaudited)
    (Dollars in thousands)
                           
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
                           
    Net cash provided by (used in) operating activities $ 25,693   $ 35,764   $ 16,556   $ 27,643   $ 105,656     $ (9,328 ) $ 55,596   $ 45,117   $ 62,580   $ 153,965  
                           
    Less:                      
    Capital expenditures   (53 )   (200 )   (2,211 )   (1,791 )   (4,255 )     (226 )   (241 )   (282 )   (293 )   (1,042 )
                           
    Free Cash Flow $ 25,640   $ 35,564   $ 14,345   $ 25,852   $ 101,401     $ (9,554 ) $ 55,355   $ 44,835   $ 62,287   $ 152,923  
                           
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                              Yr-to-Yr
      FY2024   FY2025   FY2025 to FY2024
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025   % $
                                 
    Revenues   154,069     159,871     173,869     171,852     659,661       175,961     185,483     195,412     188,724     745,580     13.0 % 85,919  
    Cost of revenue   45,621     41,212     44,934     47,722     179,489       51,749     51,234     54,998     57,929     215,910     20.3 % 36,421  
    Gross profit   108,448     118,659     128,935     124,130     480,172       124,212     134,249     140,414     130,795     529,670     10.3 % 49,498  
    % Gross margin   70.4 %   74.2 %   74.2 %   72.2 %   72.8 %     70.6 %   72.4 %   71.9 %   69.3 %   71.0 %      
                                 
    Operating expenses                            
    Research and development   34,519     33,733     37,788     45,161     151,201       44,118     43,889     42,735     45,926     176,668     16.8 % 25,467  
    Sales and marketing   44,879     44,135     46,203     60,476     195,693       54,175     51,107     50,863     56,961     213,106     8.9 % 17,413  
    General and administrative   26,664     26,009     27,241     30,252     110,166       30,961     31,369     31,994     32,175     126,499     14.8 % 16,333  
    Gains, losses and other items, net   116     6,574     2,502     2,516     11,708       206     397     149     7,241     7,993     (31.7 )% (3,715 )
    Total operating expenses   106,178     110,451     113,734     138,405     468,768       129,460     126,762     125,741     142,303     524,266     11.8 % 55,498  
                                 
    Income (loss) from operations   2,270     8,208     15,201     (14,275 )   11,404       (5,248 )   7,487     14,673     (11,508 )   5,404     (52.6 )% (6,000 )
    % Margin   5.0 %   24.3 %   40.2 %   (31.6 )%   1.7 %     (3.0 )%   4.0 %   7.5 %   (6.1 )%   0.7 %      
                                 
    Total other income, net   4,849     6,431     6,607     5,070     22,957       4,444     4,197     4,033     4,762     17,436     (24.0 )% (5,521 )
                                 
    Income (loss) from continuing operations before income taxes   7,119     14,639     21,808     (9,205 )   34,361       (804 )   11,684     18,706     (6,746 )   22,840     (33.5 )% (11,521 )
    Income tax expense (benefit)   8,705     10,163     8,429     (3,027 )   24,270       6,685     9,952     9,184     (479 )   25,342     4.4 % 1,072  
    Net earnings (loss) from continuing operations   (1,586 )   4,476     13,379     (6,178 )   10,091       (7,489 )   1,732     9,522     (6,267 )   (2,502 )   (124.8 )% (12,593 )
                                 
    Earnings from discontinued operations, net of tax   –     387     598     805     1,790       –     –     1,688     –     1,688     (5.7 )% (102 )
                                 
    Net earnings (loss) $ (1,586 ) $ 4,863   $ 13,977   $ (5,373 ) $ 11,881     $ (7,489 ) $ 1,732   $ 11,210   $ (6,267 ) $ (814 )   (106.9 )% (12,695 )
                                 
    Basic earnings (loss) per share:                            
    Continuing Operations   (0.02 )   0.07     0.20     (0.09 )   0.15       (0.11 )   0.03     0.15     (0.10 )   (0.04 )   (124.8 )% (0.19 )
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.00     0.03     (5.5 )% (0.00 )
    Basic earnings (loss) per share   (0.02 )   0.07     0.21     (0.08 )   0.18       (0.11 )   0.03     0.17     (0.10 )   (0.01 )   (106.9 )% (0.19 )
                                 
    Diluted earnings (loss) per share:                            
    Continuing Operations   (0.02 )   0.07     0.20     (0.09 )   0.15       (0.11 )   0.03     0.14     (0.10 )   (0.04 )   (125.5 )% (0.19 )
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.00     0.03     (3.1 )% (0.00 )
    Diluted earnings (loss) per share   (0.02 )   0.07     0.21     (0.08 )   0.17       (0.11 )   0.03     0.17     (0.10 )   (0.01 )   (107.0 )% (0.19 )
                                 
                                 
    Basic weighted average shares   66,497     66,284     65,961     66,323     66,266       66,621     66,294     65,631     65,957     66,126        
    Diluted weighted average shares   66,497     67,868     67,943     66,323     67,918       66,621     67,309     66,743     65,957     66,126        
                                 
    Some earnings (loss) per share amounts may not add due to rounding.         
                                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EXPENSES (1)
    (Unaudited)
    (Dollars in thousands)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
    Expenses:                      
    Cost of revenue 45,621   41,212   44,934   47,722   179,489     51,749   51,234   54,998   57,929   215,910  
    Research and development 34,519   33,733   37,788   45,161   151,201     44,118   43,889   42,735   45,926   176,668  
    Sales and marketing 44,879   44,135   46,203   60,476   195,693     54,175   51,107   50,863   56,961   213,106  
    General and administrative 26,664   26,009   27,241   30,252   110,166     30,961   31,369   31,994   32,175   126,499  
    Gains, losses and other items, net 116   6,574   2,502   2,516   11,708     206   397   149   7,241   7,993  
                           
    Gross profit, continuing operations: 108,448   118,659   128,935   124,130   480,172     124,212   134,249   140,414   130,795   529,670  
    % Gross margin 70.4 % 74.2 % 74.2 % 72.2 % 72.8 %   70.6 % 72.4 % 71.9 % 69.3 % 71.0 %
                           
    Excluded items:                      
    Purchased intangible asset amortization (cost of revenue) 3,290   1,217   1,181   3,097   8,785     3,846   3,748   3,686   3,135   14,415  
    Non-cash stock compensation (cost of revenue) 629   629   817   1,478   3,553     1,596   1,499   1,455   1,615   6,165  
    Non-cash stock compensation (research and development) 5,077   5,293   6,960   9,859   27,189     10,205   10,920   10,085   10,494   41,704  
    Non-cash stock compensation (sales and marketing) 3,736   4,786   4,089   6,337   18,948     7,093   7,383   7,278   5,716   27,470  
    Non-cash stock compensation (general and administrative) 3,850   5,027   5,631   7,106   21,614     9,091   9,266   7,942   6,341   32,640  
    Restructuring charges (gains, losses, and other) 116   6,574   2,502   2,516   11,708     206   397   149   7,241   7,993  
    Transformation costs (general and administrative) 1,875   —   —   —   1,875     —     —   —   —  
    Total excluded items 18,573   23,526   21,180   30,393   93,672     32,037   33,213   30,595   34,542   130,387  
                           
    Expenses, excluding items:                      
    Cost of revenue 41,702   39,366   42,936   43,147   167,151     46,307   45,987   49,857   53,179   195,330  
    Research and development 29,442   28,440   30,828   35,302   124,012     33,913   32,969   32,650   35,432   134,964  
    Sales and marketing 41,143   39,349   42,114   54,139   176,745     47,082   43,724   43,585   51,245   185,636  
    General and administrative 20,939   20,982   21,610   23,146   86,677     21,870   22,103   24,052   25,834   93,859  
                           
    Gross profit, excluding items: 112,367   120,505   130,933   128,705   492,510     129,654   139,496   145,555   135,545   550,250  
    % Gross margin 72.9 % 75.4 % 75.3 % 74.9 % 74.7 %   73.7 % 75.2 % 74.5 % 71.8 % 73.8 %
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
                           
    Income (loss) from continuing operations before income taxes 7,119   14,639 21,808 (9,205 ) 34,361   (804 ) 11,684 18,706 (6,746 ) 22,840  
    Income tax expense (benefit) 8,705   10,163 8,429 (3,027 ) 24,270   6,685   9,952 9,184 (479 ) 25,342  
    Net earnings (loss) from continuing operations (1,586 ) 4,476 13,379 (6,178 ) 10,091   (7,489 ) 1,732 9,522 (6,267 ) (2,502 )
                           
    Earnings from discontinued operations, net of tax –   387 598 805   1,790   –   – 1,688 –   1,688  
                           
    Net earnings (loss) (1,586 ) 4,863 13,977 (5,373 ) 11,881   (7,489 ) 1,732 11,210 (6,267 ) (814 )
                           
    Earnings (loss) per share:                      
    Basic (0.02 ) 0.07 0.21 (0.08 ) 0.18   (0.11 ) 0.03 0.17 (0.10 ) (0.01 )
    Diluted (0.02 ) 0.07 0.21 (0.08 ) 0.17   (0.11 ) 0.03 0.17 (0.10 ) (0.01 )
                           
    Excluded items:                      
    Purchased intangible asset amortization (cost of revenue) 3,290   1,217 1,181 3,097   8,785   3,846   3,748 3,686 3,135   14,415  
    Non-cash stock compensation (cost of revenue and operating expenses) 13,292   15,735 17,497 24,780   71,304   27,985   29,068 26,760 24,166   107,979  
    Restructuring and merger charges (gains, losses, and other) 116   6,574 2,502 2,516   11,708   206   397 149 7,241   7,993  
    Transformation costs (general and administrative) 1,875   – – –   1,875   –   – – –   –  
    Total excluded items from continuing operations 18,573   23,526 21,180 30,393   93,672   32,037   33,213 30,595 34,542   130,387  
                           
    Income from continuing operations before income taxes and excluding items 25,692   38,165 42,988 21,188   128,033   31,233   44,897 49,301 27,796   153,227  
    Income tax expense (2) 6,167   9,036 10,732 3,947   29,882   7,371   10,745 12,421 7,759   38,296  
    Non-GAAP net earnings from continuing operations 19,525   29,129 32,256 17,241   98,151   23,862   34,152 36,880 20,037   114,931  
                           
    Non-GAAP earnings per share from continuing operations                      
    Basic 0.29   0.44 0.49 0.26   1.48   0.36   0.52 0.56 0.30   1.74  
    Diluted 0.29   0.43 0.47 0.25   1.45   0.35   0.51 0.55 0.30   1.70  
                           
    Basic weighted average shares 66,497   66,284 65,961 66,323   66,266   66,621   66,294 65,631 65,957   66,126  
    Diluted weighted average shares 67,388   67,868 67,943 68,471   67,918   68,463   67,309 66,743 67,479   67,499  
                           
    Some totals may not add due to rounding           
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     

     

    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME GUIDANCE (1)
    (Unaudited)
    (Dollars in thousands)
      For the   For the
      quarter ending   year ending
      June 30,
    2025    		   March 31,
    2026
               
          Low   High
               
    GAAP income from operations $ 6,000   $ 85,000   $ 89,000
               
    Excluded items:          
    Purchased intangible asset amortization   3,000     11,000     11,000
    Non-cash stock compensation   24,000     82,000     82,000
    Total excluded items   27,000     93,000     93,000
               
    Non-GAAP income from operations $ 33,000   $ 178,000   $ 182,000
               
               
    (1) This presentation includes non-GAAP measures. Our non-GAAP 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 our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
               
    APPENDIX A
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    Q4 FISCAL 2025 FINANCIAL RESULTS
    EXPLANATION OF NON-GAAP MEASURES AND OTHER KEY METRICS
     
    To supplement our financial results, we use non-GAAP measures which exclude certain acquisition related expenses, non-cash stock compensation and restructuring charges. We believe these measures are helpful in understanding our past performance and our future results. Our non-GAAP financial measures and schedules are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated GAAP financial statements. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and to make operating decisions. These measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is also based in part on the performance of our business based on these non-GAAP measures.
     
    Our non-GAAP financial measures, including non-GAAP earnings (loss) per share, non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP expenses and adjusted EBITDA reflect adjustments based on the following items, as well as the related income tax effects when applicable:
     
    Purchased intangible asset amortization: We incur amortization of purchased intangibles in connection with our acquisitions. Purchased intangibles include (i) developed technology, (ii) customer and publisher relationships, and (iii) trade names. We expect to amortize for accounting purposes the fair value of the purchased intangibles based on the pattern in which the economic benefits of the intangible assets will be consumed as revenue is generated. Although the intangible assets generate revenue for us, we exclude this item because this expense is non-cash in nature and because we believe the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding our operational performance.
     
    Non-cash stock compensation: Non-cash stock compensation consists of charges for employee restricted stock units, performance shares and stock options in accordance with current GAAP related to stock-based compensation including expense associated with stock-based compensation related to unvested options assumed in connection with our acquisitions. As we apply stock-based compensation standards, we believe that it is useful to investors to understand the impact of the application of these standards to our operational performance. Although stock-based compensation expense is calculated in accordance with current GAAP and constitutes an ongoing and recurring expense, such expense is excluded from non-GAAP results because it is not an expense that typically requires or will require cash settlement by us and because such expense is not used by us to assess the core profitability of our business operations.
     
    Restructuring charges: During the past several years, we have initiated certain restructuring activities in order to align our costs in connection with both our operating plans and our business strategies based on then-current economic conditions. As a result, we recognized costs related to termination benefits for employees whose positions were eliminated, lease and other contract termination charges, and asset impairments. These items, as well as third party expenses associated with business acquisitions in the prior years, reported as gains, losses, and other items, net, are excluded from non-GAAP results because such amounts are not used by us to assess the core profitability of our business operations.
     
    Transformation costs: In previous years, we incurred significant expenses to separate the financial statements of our operating segments, with particular focus on segment-level balance sheets, and to evaluate portfolio priorities. Our criteria for excluding transformation expenses from our non-GAAP measures is as follows: 1) projects are discrete in nature; 2) excluded expenses consist only of third-party consulting fees that we would not incur otherwise; and 3) we do not exclude employee related expenses or other costs associated with the ongoing operations of our business. We substantially completed those projects during the third quarter of fiscal year 2018. Beginning in the fourth quarter of fiscal 2018, and through most of fiscal 2019, we incurred transaction support expenses and system separation costs related to the Company’s announced evaluation of strategic options for its Marketing Solutions (AMS) business. In the first and second quarters of fiscal 2021 in response to the potential COVID-19 pandemic impact on our business and again during fiscal 2023 in response to macroeconomic conditions, we incurred significant costs associated with the assessment of strategic and operating plans, including our long-term location strategy, and assistance in implementing the restructuring activities as a result of this assessment.  Our criteria for excluding these costs are the same. We believe excluding these items from our non-GAAP financial measures is useful for investors and provides meaningful supplemental information.
     
    Our non-GAAP financial schedules are:
     
    Non-GAAP EPS, Non-GAAP Income from Operations, and Non-GAAP expenses: Our Non-GAAP earnings per share, Non-GAAP income from operations, Non-GAAP operating income margin, and Non-GAAP expenses reflect adjustments as described above, as well as the related tax effects where applicable.
     
    Adjusted EBITDA: Adjusted EBITDA is defined as net income from continuing operations before income taxes, other income and expenses, depreciation and amortization, and including adjustments as described above. We use Adjusted EBITDA to measure our performance from period to period both at the consolidated level as well as within our operating segments and to compare our results to those of our competitors. We believe that the inclusion of Adjusted EBITDA provides useful supplementary information to and facilitates analysis by investors in evaluating the Company’s performance and trends. The presentation of Adjusted EBITDA is not meant to be considered in isolation or as an alternative to net earnings as an indicator of our performance.
     
    Free Cash Flow: To supplement our statement of cash flows, we use a non-GAAP measure of cash flow to analyze cash flows generated from operations. Free cash flow is defined as operating cash flow less capital expenditures. Management believes that this measure of cash flow is meaningful since it represents the amount of money available from continuing operations for the Company’s discretionary spending. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.
     

    PDF available: http://ml.globenewswire.com/Resource/Download/d38f8ec4-85ab-47f8-b916-e99c4789ac26 

    The MIL Network –

  • MIL-OSI USA: Duckworth, Durbin Demand Answers on Access to Care for Illinoisans After Prime Healthcare Reduces Services Following Acquisitions of Eight Hospitals

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth
    May 20, 2025
    In their letter to Prime Healthcare, the Senators demand answers on the justification, process, & impact of Prime’s decision to cut pediatric, trauma, and maternal health care services in several newly-acquired hospitals
    [WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) and U.S. Senate Democratic Whip Dick Durbin (D-IL), today sent a letter to the CEO of Prime Healthcare, Dr. Prem Reddy, about the company’s recent acquisition of eight Illinois hospitals that were formerly owned by Ascension.  Since acquiring these hospitals in March 2025, Prime has suspended or terminated pediatric, trauma, and maternal care services at some of the locations, creating even more barriers for Illinoisans to access health care.  These hospitals, now owned by Prime, a for-profit hospital system operating 51 hospitals across 14 states, provide health care to Illinoisans who rely on federal health programs, and several of these locations serve a population in which more than two-thirds of inpatients are covered by Medicaid or Medicare.
    Despite commitments by Prime to “not make any material reductions to, or material changes in, the mix or level of services offered at any Hospital… to meet community needs,” pediatric services have been terminated at St. John’s Medical Center in Joliet; there has been a withdrawal of the Level II trauma designation at Mercy Medical Center in Aurora; and the comprehensive obstetric and maternal care services at St. Mary’s in Kankakee has been terminated.
    “We sincerely urge your health system to immediately reconsider these decisions, as the consequences of these reductions hold the potential to strip patients of critical and specialized care, impose additional barriers to accessing care, and exacerbate the existing health care needs in the communities these hospitals serve,” the Senators wrote.
    Duckworth and Durbin continue their letter, emphasizing that when a hospital measures success by profit margins rather than its ability to provide care, patients and communities suffer.
    “Hospitals often measure their success by the patients they save and the ability to improve health in their surrounding neighborhoods.  However, as the grip of for-profit hospital systems tightens across our nation’s health care networks, profitability has risen as a primary indicator of success for hospital owners,” the lawmakers wrote.
    “When operations are centered around a hospital’s ability to generate as much profit as possible, it often comes at the expense of patients, staff, and the quality and safety of care.  As a result, hospital staffing levels diminish and costs for services increase, adding to the existing strain on hospitals to provide high standards of care,” the Senators continued their letter.
    As Duckworth and Durbin note, Prime has a history of prioritizing profit over patient care, resulting in two major settlements with the Department of Justice to resolve alleged violations of the False Claims Act relating to Medicare kickbacks and up-coding.
    The lawmakers closed their letter by expressing their concern that Illinoisans are losing access to quality health care.  Because of those concerns, the Senators requested additional information from Prime about operations at each of the hospitals, particularly around decisions to shut down pediatric, trauma, and maternal health care services.
    “Prime Healthcare has only operated these eight Illinois hospitals for two months, and there are already profound concerns about patients losing access to care.  Given the impact these decisions will have on Illinois patients, hospitals, and the health care workforce, we request answers to [our] questions by June 10, 2025,” the lawmakers wrote.
    The eight hospitals acquired by Prime Healthcare are Ascension Holy Family (Des Plaines), Ascension Mercy (Aurora), Ascension Resurrection (Chicago), Ascension Saint Francis (Evanston), Ascension Saint Joseph (Joliet), Ascension Saint Joseph (Elgin), Ascension Saint Mary (Kankakee), and Ascension Saint Mary and Saint Elizabeth (Chicago). 
    A copy of the letter is available here and below:
    May 20, 2025
    Dear Dr. Reddy:
    We write to express our concern regarding recent decisions that may limit access to essential health care services for patients across Illinois.  Earlier this year, your for-profit health system, Prime Healthcare, acquired several former Ascension hospitals in Illinois.  These hospitals provide health care to beneficiaries of federal health programs, with several Prime Healthcare hospitals serving a population in which more than two-thirds of inpatients have Medicare or Medicaid health coverage.
    In March 2025, Prime Healthcare completed the acquisition of Ascension Holy Family (Des Plaines), Ascension Mercy (Aurora), Ascension Resurrection (Chicago), Ascension Saint Francis (Evanston), Ascension Saint Joseph (Joliet), Ascension Saint Joseph (Elgin), Ascension Saint Mary (Kankakee), and Ascension Saint Mary and Saint Elizabeth (Chicago).  As part of Prime’s approval by the Illinois Health Facilities & Review Board for the change in ownership, Prime committed to, among other provisions, “not make any material reductions to, or material changes in, the mix or level of services offered at any Hospital … to meet community needs.”  Prime further stated, “No changes to the scope of services or the levels of care provided at the facility are currently anticipated to occur within 24 months.”  Unfortunately, the decisions that have followed since have led to the discontinuation of several critical health care services.
    We are particularly concerned about the suspension of pediatric services at St. John’s Medical Center in Joliet, the withdrawal of the Level II trauma designation at Mercy Medical Center in Aurora, and the recent termination of comprehensive obstetric and maternal care services at St. Mary’s in Kankakee.  We sincerely urge your health system to immediately reconsider these decisions, as the consequences of these reductions hold the potential to strip patients of critical and specialized care, impose additional barriers to accessing care, and exacerbate the existing health care needs in the communities these hospitals serve.
    Hospitals often measure their success by the patients they save and the ability to improve health in their surrounding neighborhoods.  However, as the grip of for-profit hospital systems tightens across our nation’s health care networks, profitability has risen as a primary indicator of success for hospital owners.  When operations are centered around a hospital’s ability to generate as much profit as possible, it often comes at the expense of patients, staff, and the quality and safety of care.  As a result, hospital staffing levels diminish and costs for services increase, adding to the existing strain on hospitals to provide high standards of care.  Indeed, Prime Healthcare already has been the subject of several federal enforcement actions, including separate settlements in 2018 and 2021 totaling $100 million to resolve alleged False Claims Act violations for Medicare kickbacks and up-coding.
    Prime Healthcare has only operated these eight Illinois hospitals for two months, and there are already profound concerns about patients losing access to care.  Given the impact these decisions will have on Illinois patients, hospitals, and the health care workforce, we request answers to the following questions by June 10, 2025: 
    What considerations were taken prior to eliminating pediatric services at St. John’s Medical Center, as well as shrinking obstetric and maternal care services at St. Mary’s?
    For each hospital’s service line referenced above, what was the average daily census or patient count each week over the past year?
    How far back does the data, pertaining to average daily census or patient counts each week, that Prime has access to go?
    Prior to deciding to eliminate pediatric services, did Prime formally engage with neighboring hospitals or the Illinois Health Facilities & Services Review Board about the adequacy of nearby capacity to serve these patient’s needs?  If so, please describe and share such documentation with the feedback provided by each entity.

    How does Prime Healthcare plan to compensate for the loss of these essential health services and ensure that these communities continue to have access to specialized treatment and maternal care?
    Following the revocation of Mercy Medical Center’s Level II trauma designation, how will the hospital’s emergency readiness be impacted?  How will the hospital address the need for trauma care within the community?
    What projections does Prime have for the impact on ambulance service times for patients now being diverted from Mercy to another hospital?  Have there been any efforts to engage with the Illinois Department of Public Health regarding the potential reversal of this revocation?  If so, please describe in detail.

    You previously made a commitment not to change “the scope of services or the levels of care…within 24 months.”  What circumstances have shifted since the acquisition to justify a different course of action? 
    How many health care providers and personnel have been or will be terminated as a result of these closures?  How will this impact patient wait times and their ability to continue their plan of care with a provider?
    How much does Prime Healthcare anticipate saving financially as a result of these recent closures? 
    Does Prime Healthcare have future plans to shut down or reduce additional health facilities or services in Illinois?  If so, please describe in detail.
    Thank you for your attention to this important matter.  We look forward to your prompt reply.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA News: President Trump is Right About What’s Happening in South Africa

    Source: The White House

    Today, President Donald J. Trump showed the world the shocking treatment of white farmers in South Africa — including with a video montage that highlighted the discrimination and violence targeted at the innocent minority victims.

    President Trump was exactly right.

    • “We left because of the attacks. You can’t stay on a farm as a white person in South Africa. You know you’ll be killed,” said one South African refugee.
    • New York Post: White South African couple say they’re victims of racial attacks — and can’t wait to be in Trump’s America
    • The Daily Mail: Why white South Africans are fleeing surging violence and ‘racist’ laws for new lives in America
    • BBC: ‘I didn’t come here for fun’ – Afrikaner defends refugee status in US
    • Breitbart: Trump Vindicated as South Africa Considers Bill to Redistribute Land on Racial Lines
    • BBC: South African president signs controversial land seizure law
      • The law is vague, stating that expropriation is allowed in circumstances where it is “just and equitable and in the public interest” to do so.
    • BBC: “Close to 70,000 South Africans have expressed interest in moving to the US following Washington’s offer to resettle people from the country’s Afrikaner community, a business group has said.”
    • The New York Times: ‘Kill the Boer’ Song Fuels Backlash in South Africa and U.S.
      • “The political rally was winding down when the brash leader of a leftist South African party grabbed the microphone and began to stomp and chant. Thousands of supporters joined in, and when he reached the climax, they pointed their fingers in the air like guns. ‘Kill the Boer!’ Julius Malema chanted, referring to white farmers. The crowd in a stadium in Johannesburg on Saturday roared back in approval.”
    • The New York Times: Killing of White Farmer Becomes a Flash Point in South Africa
    • Sky News: ‘Anti-white racism’: Farmers being targeted in South Africa
    • news.com.au: South Africans trapped ‘like frogs in boiling water’ as racial violence escalates
    • The Independent: South Africa: Taking farms from whites is justified because ‘it’s not really their land’, says EFF spokesman
    • New York Sun: From Murdered White Farmers to ‘Racially Disfavored Landowners’: Why Trump and Musk Are Targeting South Africa
    • The Independent: Farmers in South Africa claim they are being targeted in ‘horrific’ attacks
    • news.com.au: South Africa farm attacks: Brutal crimes landowners face
    • The Daily Mail: There’s been a murder a week on farms in South Africa this year. Now a race-baiting Marxist who loves singing Kill the Boer is set to become Vice President
    • Fox News: South African political leader calls for violence against White citizens at rally: ‘Kill the Boer, the farmer’

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Mike Levin Pushes Amendment to GOP’s “Big Ugly Bill” to Prevent Higher Energy Costs for Americans

    Source: United States House of Representatives – Representative Mike Levin (CA-49)

    May 21, 2025

    Rep. Levin Pushes Amendment to GOP’s “Big Ugly Bill” to Prevent Higher Energy Costs

    Washington, D.C.—Today, Rep. Mike Levin (CA-49) filed an amendment to stop House Republicans’ “Big Ugly Bill” from raising utility bills for Americans. The amendment would ensure provisions in the bill that eliminate programs and policies that help build out clean energy infrastructure and those that double down on costly fossil fuels cannot take effect unless the Energy Information Administration confirms that these policies will not increase monthly household energy costs.

    “This amendment is simple and reasonable. All it says is that if we’re going to pass legislation that affects energy prices, then we have a responsibility to ensure it doesn’t drive up costs for the people we represent,” said Rep. Levin. “If the policies in this bill are truly going to reduce costs, then this amendment simply adds a commonsense verification step to confirm it. Nothing more.”

    Independent analysis indicates the “Big Ugly Bill” would raise energy costs for American families by at least 7%, an average of more than $110 per year, per household. This increase comes at a time when nearly 80 million Americans are struggling to pay their utility bills. The “Big Ugly Bill” also contains provisions that raise fees on renewable energy while making it easier for fossil fuel developers to drill on public lands without public input. It weakens permitting protections, and it undercuts the economic foundation for one of the fastest-growing sectors in our economy—all while shifting costs back to American families.

    To watch Rep. Levin’s full testimony in the House Rules Committee, click here.

    ###

    MIL OSI USA News –

  • MIL-OSI New Zealand: Property Market – Broader market signals point to a steady upturn – Cotality

    Source: Cotality

    New Zealand’s property market continues to point to signs of recovery, according to new data from Cotality NZ’s latest Monthly Chart Pack.

    Kelvin Davidson, Chief Property Economist at Cotality, said property sales volumes have been gradually trending upward for nearly two years.

    In April, sales rose 4% compared to a year earlier – lifting activity to 7% above the historical norm for this time of year. Falling mortgage rates have clearly supported this momentum, according to Mr. Davidson.
    “Sales activity has been on a steady incline, and we’re now starting to see this translate into home values,” Mr Davidson said.
    The Cotality Home Value Index rose 0.3% in April – the fourth consecutive monthly increase – although growth remains modest. Among the main centres, Hamilton and Christchurch led the gains, while Dunedin, Wellington and Tauranga showed flatter results.
    “Despite these signs of improvement, the market remains tilted in favour of buyers,” Mr Davidson noted.
    “Stock levels are still elevated by historical standards, which will likely keep price growth in check.”
    Mortgaged multiple property owners are also regaining ground. This group accounted for 24% of April’s sales – the highest share in more than three years. Lower mortgage rates are reducing cashflow shortfalls, improving the financial appeal of property investment.
    Looking ahead, Mr Davidson said the outlook for 2025 remains cautiously positive.
    “We’re expecting a moderate upswing, with national property values forecast to rise around 5% for the year,” he said.
    “Lower mortgage rates will be a key driver. But we’re also watching the wider economy, the labour market, and the impact of lending restrictions, particularly debt-to-income limits.”
     
    Highlights from the May 2025 Housing Chart Pack include:

    New Zealand’s residential real estate market is worth a combined $1.64 trillion.

    The CoreLogic Home Value Index shows property values across New Zealand increased 0.3% in April. Over the three months to April, there was a 0.9% rise in median property values across NZ.
    The total sales count over the 12 months to April is 84,226.
    Total listings on the market were 31,035 in April. The total number of properties listed on the market remains elevated, although the seasonal fall for new listings flows means that agreed sales have just started to eat into stock levels a little in the past few weeks.
    On rents, the pace of growth remains subdued, with net migration having fallen a long way from its peak, and the stock of available rental listings on the market still elevated.
    Gross rental yields now stand at 3.9%, which is the highest level since mid-2015.
    Inflation is firmly back in the 1–3% target range, and after April’s 0.25% cut, further OCR reductions seem likely in the coming months.
    The Chart of the Month shows that First Home Buyers are taking advantage of multiple funding options to get a foot on the property ladder – making up 27% of property purchases in April.

    For more property news and insights, visit www.corelogic.co.nz/news-research.

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Africa – Joint Statement of Commission of the Bishops’ Conferences of the European Union (COMECE) and Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) ahead of the AU – EU Foreign Ministers’ Meeting on 21 May 2025

    SOURCE: Symposium of Episcopal Conferences of Africa and Madagascar (SECAM)

    Africa needs a transformation rooted in the Gospel values of care for creation, solidarity with the poor, and the pursuit of peace

    ACCRA, Ghana, May 21, 2025 – As shepherds of the Catholic Church in Africa and in Europe, we, the bishops of the Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) (www.SECAM.org) and of the Commission of the Bishops’ Conferences of the European Union (COMECE), speak today with a voice formed by the lived realities of our people – farmers, fisherfolk, pastoralists, women and youth – whose lives are shaped by the land, and whose hope depends on justice, peace, and dignity. We welcome the convening of the joint African Union–European Union Foreign Ministers’ Meeting as an opportunity to examine not only shared ambitions but the very nature of our partnership. 
    As SECAM and COMECE have already stated five years ago, “we are firmly convinced that Africa and Europe could become the engines for a reinvigoration of multilateral cooperation by reinforcing their longstanding ties marked by our common roots and geographical proximity […] towards an equitable and responsible partnership that puts the people at its centre”.

    We are, however, deeply concerned about certain developments in this partnership over recent years. We have witnessed a profound shift in European priorities – away from solidarity with the most fragile regions and communities, and from development cooperation aimed at eradicating poverty and hunger, towards a more narrowly defined set of geopolitical and economic interests. Notwithstanding the commendable intention behind some projects promoting human development at the grassroots, certain initiatives supported under the EU’s Global Gateway – while presented as mutually beneficial – too often seem to replicate extractive patterns of the past: privileging European corporate and strategic aims over the real needs and aspirations of African people.

    Land, water, seeds, and minerals – the very foundations of life – seem to be once again treated as commodities for foreign profit rather than as common goods to be stewarded with care. Africa is being asked to sacrifice its ecosystems and communities to help Europe meet its decarbonisation goals – whether through massive land deals for so-called “green” energy projects, the expansion of carbon offset plantations, or the outsourcing of industrial agriculture’s toxic inputs and waste. This is not partnership. This is not justice.

    “The earth herself, burdened and laid waste, is among the most abandoned and maltreated of our poor” (Laudato Si’, §2)

    The Catholic Church, inspired by late Pope Francis’ encyclical Laudato Si’, shares the understanding that we must hear both the cry of the earth and the cry of the poor. These cries are loud and clear across Africa. Climate change is wreaking havoc on those who depend on the land, even as our continent has contributed least to the crisis. Soil degradation, poisoned water, and the loss of biodiversity are destroying the foundation of rural life. Hunger in Africa is growing, not because we lack food, but because we have allowed systems to dominate that put profit above people and that treat agriculture as an industrial process, not a way of life.

    We urge the ministers gathered in Brussels to place the dignity of African peoples at the heart of the AU-EU partnership. This means supporting a transformation of agriculture that breaks free from dependency on imported fertilisers, chemical inputs, and genetically modified seeds. It means protecting and promoting farmer-managed seed systems, which are the repositories of Africa’s agricultural biodiversity and the key to food sovereignty. These systems are not backward or inefficient – they are resilient, rooted in tradition, and adapted to local ecologies. Criminalising farmers for saving seeds or imposing rigid intellectual property regimes aligned with UPOV or corporate agendas violates both their rights and the planet’s needs.

    We call for an immediate ban on the export and use of Highly Hazardous Pesticides in Africa. It is a grave injustice that chemicals banned in Europe for their risks to health and ecosystems are still manufactured there and marketed to African farmers. This double standard must end. Instead, we must invest in agroecology – a science, a practice, and a social movement that nourishes the land, respects cultural traditions, and empowers women and youth. Agroecology offers a truly African path to climate adaptation and rural regeneration. It is rooted in the wisdom of our communities and validated by science. It is our future.

    Moreover, we remind our political leaders that land is sacred. For most Africans, land is not merely a factor of production or a tradable asset. It is a gift from God, entrusted to us by our ancestors and held in common for future generations. Large-scale land acquisitions by foreign investors or development finance institutions, carried out without free, prior, and informed consent, are an affront to this sacred trust. They displace communities, erode customary rights, and contribute to conflict and forced migration. Ministers must act decisively to end land grabbing and ensure legal protection for communal and customary tenure systems.

    We are particularly disturbed by growing use of African territory as a site for Europe’s resource needs and climate ambitions. Decarbonisation must not come at the cost of African ecosystems or the rights of African communities. It is ethically untenable to demand that Africa become the dumping ground for Europe’s “green transition” – whether through extractive mining for critical minerals or vast land projects that reduce our continent to a carbon sink.

    Let us be clear: Africa does not need charity, nor does it need to be a battleground for external interests. What it needs is justice. What it needs is a partnership grounded in mutual respect, environmental stewardship, and the centrality of human dignity. We believe such a partnership is possible – but only if the structures and priorities of AU-EU cooperation are fundamentally reoriented towards these objectives.

    We therefore urge ministers to listen more closely to African civil society, Indigenous peoples, and faith communities – not as token participants, but as equal co-creators of policy. Real dialogue means making space for the voices of those who live on and with the land.

    We conclude by echoing the spirit of Laudato Si’, which calls for an “integral ecology” – one that recognises the profound interconnection between people, planet, and purpose.

    We pray that this meeting may mark a turning point – not only in diplomatic relations but in the moral and spiritual compass guiding our shared future.

    Africa needs a transformation rooted in the Gospel values of care for creation, solidarity with the poor, and the pursuit of peace. As Laudato Si’ teaches us, “everything is interconnected” (§117) – and so our response must be holistic and courageous.

    We invite the AU and EU Foreign Ministers to rise to this moment. Let this be the partnership that listens to the cries of the earth and the cries of the poor. Let this be the moment when Africa’s future is shaped not by external interests, but by the aspirations of its people – especially those who till the land, feed the nation, and protect the environment.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Tech – Europe’s Largest Inaugural Tech and Startup Event Opens in Berlin as the Continent Spurs Momentum for Open Innovation and AI Leadership

    Source: GITEX EUROPE x Ai Everything 2025

    EconomyEntrepreneurs / Start-UpTech / DigitalInnovation – Ministers and senior tech stakeholders from the European Union, Germany and the UAE inaugurate the momentous first edition of GITEX EUROPE x Ai Everything.

    Berlin, Germany – 21 May 2025: Berlin became the focal point of Europe’s tech momentum and global digital cooperation as GITEX EUROPE x Ai Everything 2025 opened its doors today at Messe Berlin, launching the region’s largest inaugural tech, startup and digital investment event to capacity crowds and the biggest, most international lineup of tech and businesses converging in Europe. The show arrives at an inflection point in Europe’s digital future, sparked by a continent-wide ‘Choose Europe’ movement to anchor the next wave of innovation, research, investment, talent and deep-tech breakthroughs on home ground; alongside a renewed impetus in Germany represented by the formation of a new government and the country’s first digital ministry taking stewardship on digital transformation, AI excellence and data policy.

    Born in the UAE with global editions now running in seven countries, GITEX is the world’s largest and best-rated tech and startup event, reflecting the UAE’s wider national commitment to global digital collaboration. With the show’s expansion into Europe, it echoes the UAE’s shared commitment to advance innovation and scientific frontiers, recently strengthened with Abu Dhabi’s MGX investment and Nvidia partnering to develop Europe’s largest AI data center campus (1) alongside the development of a new 5GW AI campus (2), the largest of its kind outside the US to be based in Abu Dhabi.

    Welcome addresses led the inauguration ceremony from European and global leaders, including Kai Wegner, Governing Mayor of Berlin; H.E. Alia Al Mazrouei, UAE Minister of State for Entrepreneurship; Clara Chappaz, the Minister of AI and Digital of France; Thomas Jarzombek, Parliamentary State Secretary at the Federal Minister for Digital and State Modernization, Germany; Jan Kavalírek, Deputy Minister of Industry and Trade, Czech Republic; Franziska Giffey, Mayor of Berlin & Senator for Economic Affairs, Energy and Public Enterprises; and Trixie LohMirmand, EVP of Dubai World Trade Centre, the global organiser of GITEX.

    With participation from over 100 countries, 1,400 tech companies, startups, and SMEs, more than 600 influential investors, and 500 industry leaders on-stage, the event sparked strategic dialogues on innovation, investment, policy shifts and business transformations, as well as catalysed collaborations at scale – across sectors and geographies. Taking place until 23 May at Messe Berlin, GITEX EUROPE x Ai Everything 2025 is organised in partnership with the Berlin Senate Department for Economics, Energy and Public Enterprises, Germany’s Federal Ministry for Economic Affairs and Climate Action, Berlin Partner for Business and Technology, and the European Innovation Council (EIC).

    Kai Wegner, Governing Mayor of Berlin: “The GITEX tech fair – which is taking place in Berlin for the very first time – brings founders from around the world, investors, and established companies together. As Germany’s startup capital, Berlin is the perfect place for GITEX. We want to create the best environment for founders in our city. Networking events and industry fairs like GITEX are part of that effort.”

    Her Excellency (H.E.) Alia Al Mazrouei, the UAE Minister of State for Entrepreneurship: “Moving beyond economic diplomacy, the UAE is now championing entrepreneurial diplomacy, guided by our diligent efforts in fostering global partnerships to empower entrepreneurs in the country. GITEX EUROPE’s vision of bringing together SMEs, investors, accelerators, incubators and industry leaders to ignite innovation, foster collaboration, and drive growth aligns with the UAE’s aspirations to strengthen partnerships with Europe in entrepreneurship and digital economy.”

    Clara Chappaz, the Minister of AI and Digital of France, commented on the development of AI: “When you were hear about Europe being a continent of regulation, this is the past. Today, Europe is all about innovation. More than ever, we have all the ingredients to succeed as Europeans building these amazing technologies when it comes to AI. The partnerships between France and Germany is extremely determined to accelerate Europe when it comes to innovation, and in particular when it comes to everything we can do on digital innovation.”

    Thomas Jarzombek, Parliamentary State Secretary at the Federal Minister for Digital and State Modernization reiterated: “It’s a great opportunity here to connect startups and also for investment opportunities right now here in Berlin. We have to move forward, faster than we did in the past. Easy for you to do business in Germany, easy for every citizen to do everything with an app and to digitalize things you have in our pocket right now.”

    Jan Kavalírek, Deputy Minister of Industry and Trade, Czech Republic: “One of our top priorities right now, is to create the best possible environment for AI researchers and to deploy artificial intelligence across all the industrial sector. This is the reason why we invest in AI heavily, both in software and in hardware infrastructure, and this is also the reason why we are glad to part of GITEX EUROPE.”

    Franziska Giffey, Mayor of Berlin and Senator for Economic Affairs, Energy and Public Enterprises: “We have more than 5,000 startup enterprises here in Berlin, and of course we want to do more. We want to be the number one innovation place in Europe. Whenever you think about coming to the place of freedom, the place of possibilities, come to Berlin.”

    Trixie LohMirmand, global organiser of GITEX: “As the world’s third largest economy, Germany’s market gravity and Europe’s openness create a powerful test-bed where capital, code and talent can cross-pollinate at speed, forging new collaborative forces across geographies and sectors. GITEX EUROPE proves that innovations can scale beyond borders, opening new markets and opportunities for Europe’s most ambitious companies.”

    Spanning high impact showcases and talks covering AI, cybersecurity, deep tech, green tech, quantum computing, SMEs, and startup, scaleup and investments, GITEX EUROPE x Ai Everything offers unmatched opportunities to access new markets, breakthrough technologies, industry transformations and business insights.

    Across the show floor, global tech enterprises including IBM, AWS, Bosch, Cisco, CrowdStrike, Dell, Fortinet, Lenovo, ManageEngine, NinjaOne, NVIDIA, and SAP, alongside over 750 startups from 60 countries, showcase how infrastructure, intelligence, and investment intersect to propel Europe’s digital future forward. From business leaders to AI architects, quantum researchers to CIOs, green tech innovators to global investors, the opening day’s gathering set the tone for decisive partnerships accelerating the continent’s AI and digital competitiveness.

    The opening day conference programme was headlined by Dr. Geoffrey Hinton, Nobel Physics Laureate and ‘Godfather of AI’ with a riveting keynote on ‘AI for Humanity’s Greatest Challenges’. In April 2025, the United Arab Emirates and European Union delivered a joint statement to begin dialogue toward a Comprehensive Economic Partnership Agreement (CEPA) (3) aimed at strengthening bilateral trade and investment ties across key sectors such as AI, advanced manufacturing, healthcare and more.

    GITEX EUROPE x Ai Everything leverages a powerful network of established relationships in tech, policy, investment and business spanning four regions and seven countries, with more new international editions in the wings. Currently the GITEX global network of events takes place in Abu Dhabi, Dubai, Germany, Morocco, Nigeria, Singapore, Thailand, and Vietnam.

    (1) https://fastcompanyme.com/news/nvidia-and-abu-dhabis-mgx-join-french-partners-to-build-europes-largest-ai-campus/
    (2) https://www.techrepublic.com/article/news-uae-us-ai-campus/
    (3) https://www.wam.ae/en/article/bj3wkyv-uae-president-president-european-commission-agree

    For more information, visit: www.gitex-europe.com.

    About GITEX EUROPE x Ai Everything 2025

    GITEX EUROPE x Ai Everything 2025, Europe’s most global, collaborative, and cross-industry tech event, taking place from May 21–23, 2025, at Messe Berlin, Germany. Convening over 1,400 exhibiting enterprises, SMEs and startups from 100-plus countries, alongside over 600 investors, and 500 expert speakers across AI, Deep Tech, Quantum, Cybersecurity, Connectivity, Smart Cities, Green Tech, and many more, GITEX EUROPE x Ai Everything is advancing the continent’s digital future in partnership with the world. This inaugural edition features the new SMEDEX, GITEX SCALEX, and GQX, and brings to Germany the world’s largest and best-rated startup and investor event – North Star Europe. GITEX EUROPE x Ai Everything is seamlessly connected with the GITEX network of tech and startup events in Germany, Morocco, Nigeria, Singapore, Thailand, UAE, and Vietnam. For more information, please visit: www.gitex-europe.com

    MIL OSI – Submitted News –

  • MIL-OSI USA: Rep. Becca Balint Statement on Republican’s Late Night Devastating Budget Cuts

    Source: United States House of Representatives – Congresswoman Becca Balint (VT-AL)

    Rep. Becca Balint Statement on Republican’s Late Night Devastating Budget Cuts

    Washington, May 18, 2025

    Washington, D.C– Tonight, Rep. Becca Balint (VT-AL) released the following statement after the passage of the Republican budget out of the House Budget Committee late this evening: 

    “In an economy already rigged against working people, Republicans are moving forward with sweeping cuts to the programs that millions of families afloat. Americans just want to be able to pay their rent, afford groceries and health care, get their kids a good education and build a better life. But this budget makes that so much further out of reach. 

    “Republicans have had hundreds of opportunities to stand up for Medicaid, food assistance and our public schools. But tonight, they are again deciding to turn their backs on working people to give tax cuts to their billionaire donors and help corporations rake in even more money. And to do that they are ripping away healthcare from nearly 14 million Americans. This means rural communities will have even less access to care, and our kids and veterans won’t get the medication they need. Their rushed budget will inflict pain on Americans in ways we are yet to even understand.” 

    ###

    MIL OSI USA News –

  • MIL-OSI: Prospera Energy Announces Financing & Operations Update and Q1 2025 Financials

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 21, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera”, “PEI” or the “Corporation”)

    Financing Update
    Prospera Energy is pleased to announce it has secured commitments for $3 million, with a substantial portion coming from company insiders through the recently announced convertible debenture and existing financing instruments. The funding is specifically earmarked for the recently initiated capital program and will be released in multiple tranches. This financing reflects strong internal alignment and confidence in Prospera’s strategic business plan. The capital injection accelerates the Corporation’s operational plans and positions it for continued production growth momentum throughout the summer. The recently announced convertible debenture offering remains open, presenting a timely opportunity for investors to participate alongside insiders as Prospera advances its execution strategy.

    Operational Update
    Service rig activity has begun at Cuthbert, with capital allocated to five well workovers (including a high impact horizontal well remediation from the 2023 drilling program), multiple water injector cleanouts and continued infrastructure upgrades. At Luseland, a five-well reactivation program is planned with equipment ordered and preparations started to build five single well batteries (“SWB”).

    The polymer flood pilot site has been finalized following reservoir analysis, injection capability & compatibility assessments, and source water confirmation. Lab and core analysis is now in progress with leading polymer partners as Prospera advances toward execution.

    Prospera has completed its Q1 2025 reserves update, which reflect a $5 million increase in PDP reserves, now totaling $33 million —strengthening net asset value and capital-raising capacity.

    Live Webinar to Accompany Q1 2025 Financial Results
    Stakeholders are encouraged to join Prospera Energy for a live investor webinar on May 22nd, 2025, at 10:00 AM MST, where management will review Q1 2025 financial results, key operational milestones, and the Company’s strategic direction: Click here to register.

    Q1 2025 Financials
    In the first quarter of 2025, Prospera deployed $2.3 million of reactivation focused capital towards twenty-seven wells within its core, 100% owned Hearts Hill and Luseland properties. This program resulted in an additional production capability of 249 boe/d at an average capital efficiency of $9,317/boe. The full benefit of the Q1 capital program is expected to be realized in Q2 with all of the wells being online. Additionally, Prospera successfully advanced several strategic initiatives during the quarter, including:

       
    1) Secured Additional Term Debt Funding
    Obtained $3.3 million in additional advances pursuant to the term debt financing agreement executed in July 2024. This strategic funding enhances liquidity and supports the Corporation’s ongoing development and optimization programs.
       
    2) Acquisition of White Tundra Petroleum
    On March 6, 2025, the Corporation entered into an agreement to acquire 100% of the issued and outstanding common shares of White Tundra Petroleum (“WTP”), whose assets are located near Loyalist and Hanna, Alberta.

    This related party transaction—due to the Corporation’s Executive Chairman also serving as WTP’s CEO and a shareholder—includes consideration of 18,000,000 Prospera common shares, contingent upon WTP achieving 85 boe/d for three consecutive days, and the assumption of $645,000 in debt. An additional 7,312,500 performance-based shares may be issued if production reaches 128 boe/d for seven consecutive days within six months of closing. The transaction, subject to TSXV approval, is expected to close on June 1, 2025.
       
    3)  Convertible Debt Settlement
    On March 6, 2025, the Corporation reached a settlement agreement with the holders of $1,500,000 in convertible debt maturing on March 26, 2025. The agreement includes:
     
    1. Refinancing the principal into a 12-month, $1,500,000 promissory note bearing 12% interest, with $250,000 monthly repayments beginning six months post-issuance. Interest will be paid as a balloon payment at the end of the term.
    2. $200,000 of the total $559,375 accrued interest payable on the convertible debentures will be settled through the issuance of a 12-month convertible note bearing 12% interest, convertible into common shares of the Corporation at $0.05 per share. The Corporation retains the right to settle the convertible note in cash by providing thirty days notice, during which time the holder retains the right to convert.
    3. the remaining $359,375 of accrued interest payable will be settled through the issuance of 8,984,371 common shares of the Corporation at a deemed price of $0.04 per share, subject to TSXV acceptance.
    4) Corporate Workforce Optimization
    Prospera completed a workforce optimization initiative that streamlined corporate decision-making and improved operational efficiency. This resulted in reductions in staffing, office, software, parking, and other G&A-related costs.
       

    Operational highlights for Q1 2025 are as follows:

    • PEI realized average net sales of 660 boe/d in Q1 2025, an increase of 3% from Q1 2024 net sales of 640 boe/d; an increase of 6% from Q4 2024 net sales of 625 boe/d .
    • Sales revenue was $4,598,472 ($77.33/boe) in Q1 2025 compared to $3,932,190 ($67.44/boe) in Q1 2024, representing a 17% increase.
    • Operating costs per boe increased 54% in Q1 2025 at $59.46 per boe compared $38.69 per boe in Q1 2024. Costs were higher due to multiple unplanned electricity outages, one-time infrastructure and road upgrades, bringing field equipment to baseline operating conditions followed by enhanced maintenance programs, health and safety upgrades, and additional costs associated with extreme cold weather experienced during the quarter.
    • PEI earned an operating netback of $627,266 ($10.55/boe) in Q1 2025 compared to $1,608,373 ($27.56/boe) in Q1 2024; $153,901 ($2.68/boe) in Q4 2024.

    About Prospera
    Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

    Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.
    It is important to note that BOEs (barrels of oil equivalent) may be misleading, particularly if used in isolation. The BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

    Shubham Garg, Chairman of the Board
    Email: sgarg@prosperaenergy.com

    FORWARD-LOOKING STATEMENTS
    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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

    The MIL Network –

  • MIL-OSI: Solar Alliance announces major stride towards profitability and files audited financial results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO and KNOXVILLE, Tenn., May 21, 2025 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, has filed its audited financial results for the quarter and year ended December 31, 2024 (the “Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”). The Financial Statements and related MD&A are available under the Company’s profile.at  www.sedarplus.ca

    While Revenues in 2024 fell, from the record level of 2023, gross profits improved, and losses fell substantially as the Company approached breakeven.

    “Solar Alliance continues to see strong interest in renewable energy and strong demand for commercial solar projects. In recent years, the Company has honed its skill and laid down a track record in delivering C&I (commercial and industrial) and smaller utility projects. In the course of 2024, Solar Alliance completed 3MW from multiple smaller 100kW to 500kW projects. The Company has now moved toward a business development strategy targeting larger commercial projects in the 1MW to 5MW range, which the board believes we can deliver profitably, to support robust future growth. In recent years, overhead was decreased as we pursued a more focussed strategy. We now have the platform in place to target larger projects and we will selectively add resources to build on that and exploit the opportunities we have identified,”. said Solar Alliance CEO, Brian Timmons.

    We are well down the path to build a stable, growing company that is well positioned to take advantage of the broader shift to renewable energy. In this context, we closely monitor developments as they relate to the energy industry. We are encouraged to see an appreciation that the availability of competitively priced energy is a key factor underpinning future US economic growth. In the face of burgeoning energy demand over the next two decades the key market drivers that affect our business remain in place.

    Key financial highlights for 2024

    • Revenue decreased year-over-year to $5,446,757 (2023, $7,473,937) for the year ended December 31, 2024, as the Company focused on completion of a number of projects begun in 2023.
    • Cost of sales of $3,873,917 (2023, $6,399,169) resulting in a gross profit of $1,572,840 (2023, $1,074,768).
    • Net cash used in operating activities $1,830,685 (2023 – Net cash used by operating activities, $51,500)
    • Net Cash provided (absorbed) by financing activities $845,000 (2023 – ($127,500))
    • Net loss of $684,134 (2023 loss $1,811,861).
    • Total expenses of $2,869,308 (2023 – $3,037,881), reduction of 5.5%.
    • Salaries and benefits of $1,367,439 (2023 – $1,343,363), a 2% increase.
    • Short-term loans and notes payable of $227,621 in 2024 (2023 – $137,500).

    Key business highlights and outlook

    Large project focus momentum. The Company continues to benefit from repeat customers while focusing on new customers’ opportunities for solar system sales and installations. Recent policy developments in our area of operations, and growing interest in community solar is increasing the number of opportunities in our target market.

    Small and medium-sized project growth continues. This remains a target niche as a base flow of business. An important component for small and rural businesses wanting to reduce utility costs are the Rural Energy for America Program (“REAP”) grants and loans disbursed by the United States Department of Agriculture (“USDA”).  This market segment would be impinged upon by changes in the USDA REAP scheme, although recently the administration did provide guidance enabling our customers’ grant applications to move forward. These projects are in addition to the sales funnel of larger projects the Company continues to pursue.

    Regional focus and Building on our expertise. Solar Alliance’s strategy is to design, engineer and install, operate and manage, and in due course, participate in ownership of commercial solar systems ranging in size from one to five megawatts. Demonstrated success in the region and improved processes create opportunities for further sales and development opportunities.

    Restatement of Comparative Period as at December 31, 2023

    The Company announces that certain items in the financial statements for the year ended December 31, 2023 have been restated to correct certain classification errors in such financial statements. Please refer to Note 22 of the audited financial statements for the year ended December 31, 2024 for a fulsome description of adjustments and restatements for the year ended December 31, 2023.

    Brian Timmons, CEO

    About Solar Alliance Energy Inc. (www.solaralliance.com)

    Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Our experienced team of solar professionals reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance’s strategy is to ultimately build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility community customers.

    Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements.

    The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements with respect to the Company’s business development strategy, that the Company will be targeting larger commercial projects and the belief that the Company may deliver larger commercial projects profitably. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: the ability to complete the Company’s projects on schedule or at all, uncertainties related to the ability to raise sufficient capital; changes in economic conditions or financial markets; litigation, legislative or other judicial, regulatory, legislative and political competitive developments; technological or operational difficulties; the ability to maintain revenue growth; the ability to execute on the Company’s strategies; the ability to complete the Company’s current and backlog of solar projects; the ability to grow the Company’s market share; the high growth rate of the US solar industry; the ability to convert the backlog of projects into revenue; the expected timing of the construction and completion of the 1500 kW Kentucky solar projects; the targeting of larger customers; the ability to predict and counteract the effects, should they re-emerge, of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19, on the construction sector, capital market conditions, restriction on labour and international travel and supply chains; potential corporate growth opportunities and the ability to execute on the key objectives in 2025. Consequently, actual results may vary materially from those described in the forward-looking statements.

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

    The MIL Network –

  • MIL-OSI: New Bitcoin–Dogecoin Dual Mining Guide Highlights PBK Miner as a Passive Income Powerhouse

    Source: GlobeNewswire (MIL-OSI)

    Carshalton, UK, May 21, 2025 (GLOBE NEWSWIRE) — In a market where miners are constantly seeking greater efficiency and returns, a new guide has emerged spotlighting how dual mining of Bitcoin (BTC) and Dogecoin (DOGE) can offer higher hash-rate performance and increased daily earnings—with cloud platform PBK Miner leading the charge.

    Cryptocurrency mining, once dominated by DIY hardware setups, is now more accessible than ever thanks to cloud solutions that eliminate complexity and reduce costs. PBK Miner stands at the forefront of this trend.

    Why PBK Miner?

    PBK Miner is designed for users of all experience levels, offering a streamlined interface and automated cloud infrastructure. Key features include:

    • ✅ Over 100 global mining farms powered by renewable energy
    • ✅ More than 500,000 machines operating across the network
    • ✅ 8+ million users worldwide
    • ✅ Instant $10 sign-up bonus and $0.60 daily check-in rewards
    • ✅ Support for 10+ cryptocurrencies, including BTC, DOGE, ETH, XRP, USDT, BCH, and more

    Security & Sustainability

    PBK Miner places strong emphasis on:

    • User security: McAfee® and Cloudflare® protection, 100% uptime, and 24/7 support
    • Environmental responsibility: Carbon-neutral mining with renewable energy

    This commitment to ethical and secure operations enhances long-term viability and investor trust.

    Getting Started in 2 Simple Steps

    Step 1: Register an Account

    Visit pbkminer.com and sign up using just your email. No hardware or software setup is required.

    Step 2: Choose a Mining Contract

    Pick from a range of investment contracts with varying levels of return:

    Contract Name Investment Total Return
    Experience Contract $100 $107
    Bitcoin Miner S21 Imm $500 $531.75
    Bitcoin Miner S19 XP+ Hyd $1,000 $1,130
    Litecoin Miner L7 $5,000 $7,250
    WhatsMiner M63S+ $8,000 $12,960
    On-rack Filecoin Miner $30,000 $55,500

    Profits start being credited as soon as the next day. Once your balance reaches $100, you can withdraw or reinvest.

    Affiliate Program: Earn Without Investing

    PBK Miner also offers a lucrative referral program:

    • Earn up to $30,000/month by referring new users
    • No investment required to participate
    • No cap on referrals — unlimited earning potential

    In summary:

    If you are looking for ways to increase your passive income, cloud mining is a great option. If used properly, these opportunities can help you grow your cryptocurrency wealth in “autopilot” mode with minimal time investment. At the very least, they should be more time-efficient than any type of active trading. Passive income is the goal of every investor and trader, and with PBK Miner, maximizing your passive income potential is easier than ever.

    Learn More

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI USA: Capito, Colleagues Introduce Bill to Enhance Reentry Programs, Promote Public Safety

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    WASHINGTON, D.C. – Today, U.S. Senators Shelley Moore Capito (R-W.Va.) and Cory Booker (D-N.J.), along with Representatives Carol Miller (R-W.Va.-1) and Danny K. Davis (D-Ill.-7) introduced the Second Chance Reauthorization Act of 2025.
    The legislation would reauthorize critical reentry grant programs from the Second Chance Act of 2008, which was most recently reauthorized during the first Trump administration as part of the First Step Act in 2018, including services and supports for housing, career training, and treatment for substance use disorders and/or mental illness. The legislation would also reauthorize critical programs to reduce recidivism, invest in communities, and promote public safety. 
    “Over 95% of incarcerated people will be released at some point,” Senator Capito said. “The Second Chance Reauthorization Act will help people reentering society get the resources they need to become productive and successful members of their communities. Whether it’s helping them find a job, providing therapy and rehabilitation services for those struggling with addiction, providing faith-based programming to help people turn over a new leaf, or many other services, this legislation will help provide resources to a wide range of programs across the country that have been proven to reduce recidivism rates.”
    “Since 2008, the Second Chance Act has supported programs across the country that provide opportunities to those rebuilding their lives after incarceration. This is why this there has always been bipartisan support for funding for second chance programs – we have seen that these programs work in communities everywhere. In fact, they have helped reduce the three-year rate of recidivism in our country by almost a quarter since its passage,” Senator Booker said. “This bipartisan legislation provides the necessary tools and reentry services that formerly incarcerated individuals need to be successful when they leave prison. Empowering these individuals is not just the right thing to do, it makes our communities safer for us all. And Congress should ensure that every community, red or blue, rural or urban, is able to access these critical grant funds.”
    “Since the Second Chance Act passed in 2008, formerly incarcerated West Virginians reentering our communities have received the vital services and support they needed to return home successfully,” Congresswoman Miller said. “We have seen the benefits of the Second Chance Act in West Virginia and across the country. When we put in place strong reentry programming, we are creating safer communities where individuals feel supported and empowered to break the cycle of recidivism.”
    “Second Chance reentry programs and services have reached hundreds of thousands of individuals and families across the country, creating healthier families and safer communities,” Congressman Davis said. “Continuing to invest in these evidenced-based interventions is a commonsense approach to strengthen individuals, re-build families, and grow our economy.”
    The Second Chance Reauthorization Act of 2025 would: 
    Reauthorize key grant programs that provide vital services, supports, and resources for people reentering their communities after incarceration;
    Expand allowable uses for supportive and transitional housing services for individuals reentering the community from prison and jail; and
    Enhance addiction treatment services for individuals with substance use disorders, including peer recovery services, case management, and overdose prevention.
    Since its passage 16 years ago, Second Chance has supported states, local governments, tribal governments, and nonprofit organizations in their efforts to reduce recidivism. To date, Second Chance grants have reached more than 442,000 justice-involved individuals who participated in reentry services or parole and probation programs. West Virginia has received more than $5 million in funding through Second Chance grants.
    From 2009 to 2024, the U.S. Department of Justice awarded over 1,300 Second Chance Act grants to states, local, and tribal governments, as well as reentry-focused community organizations. Second Chance grants have been administered to 871 agencies across 49 U.S. states, territories, and the District of Columbia.
    The Second Chance Reauthorization Act of 2024 is endorsed by the following organizations: American Correctional Association, American Jail Association, American Parole and Probation Association, Catholic Charities USA, Correctional Leaders Association, Council of State Governments Justice Center, CPAC, Major County Sheriffs of America, National Alliance on Mental Illness, National Association of Counties, National Association of State Alcohol and Drug Abuse Directors, National Association of State Mental Health Program Directors, National District Attorneys Association, National League of Cities, Prison Fellowship, Treatment Alternatives for Safe Communities, and U.S. Chamber of Commerce.
    To read the full text of the bill, click here. 

    MIL OSI USA News –

  • MIL-OSI USA: Chairman Capito Opening Statement at Hearing on EPA’s Proposed FY26 Budget with Administrator Zeldin

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
     
    [embedded content]
    To watch Chairman Capito’s opening statement, click here or the image above.
    WASHINGTON, D.C. – Today, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, led a hearing on the U.S. Environmental Protection Agency’s (EPA) proposed budget for Fiscal Year 2026 with EPA Administrator Lee Zeldin.
    In her opening remarks, Chairman Capito applauded Administrator Zeldin for his leadership in returning EPA to its core mission, reversing the federal overreach of the previous administration, and focusing the agency on issues important to West Virginia and the country. Additionally, Chairman Capito highlighted ways EPA’s proposed budget benefits hardworking Americans and areas it can be improved. 
    Below is the opening statement of Chairman Shelley Moore Capito (R-W.Va.) as delivered.
    “Welcome to Administrator Zeldin, it is good to see you again. I understand you’ve had several hearings over the past few days, so I know you’ve been busy. I believe you are doing an excellent job in implementing your vision to return the EPA to its core mission of protecting our country’s air, our land, and water, while eliminating wasteful spending.
    “To start, I applaud your aggressive efforts to undo the previous administration’s regulatory overreach. Your leadership will put us on the path to energy dominance with sound environmental procedures.
    “Your efforts, like rescinding the Biden Clean Power Plan 2.0 rule…that was part of a comprehensive strategy intended to shut down all fossil-fuel electric generation, will unleash our economy and help onshore American jobs.
    “President Trump and his team are also putting West Virginia first, by announcing an agency-wide PFAS strategy and providing West Virginia with the authority to permit wells to sequester carbon dioxide. I appreciate the structural changes that you, Administrator Zeldin, are bringing to the EPA.
    “Several weeks ago, the EPA announced that it would move more than 130 experts to assist with reviews of new chemicals and pesticides. In 2016, the Congress told the EPA to accelerate the new chemical approval process, but the Agency has done little to comply with that direction. Reviews currently take months, if not years, stifling innovation and leaving companies reliant on outdated chemicals.
    “Addressing the pace of this process is crucial to maintaining our competitiveness in a global market, expanding our key industries, and onshoring critical supply chains. I appreciate that you, Administrator Zeldin, are taking into account my previous calls to provide more resources to address this issue.
    “This leads us to why we are here today, the EPA’s budget. I first want to thank the Administrator for acting on his pledge to prioritize being a good steward of tax-payer dollars.
    “EPA has restored accountability to grant programs enacted through the partisan Inflation Reduction Act. For example, in February, the EPA canceled a $50 million grant made to the Climate Justice Alliance under the IRA’s environmental justice grant program.
    “The Climate Justice Alliance is a non-profit organization that I investigated and found explicitly engaged in pro-Hamas, anti-Israel, anti-Semitic, anti-police, and anti-military activities. Some of these activities occurred while they were under consideration for an EPA grant awarded by the last administration.
    “The EPA has taken immediate action to investigate and reclaim the $20 billion dollars awarded under the so-called ‘Green Bank’ program in the IRA. This money was rushed out the door before the end of the last administration under unprecedented, and I would say, suspicious terms.
    “The EPA’s proposed Fiscal Year 2026 budget shows deep reductions for the agency. Some of these cuts reflect the best interests of hardworking Americans.
    “For example, the budget proposes to cut $100 million from environmental justice programs that were added under the Biden Administration and have unnecessarily imposed requirements that are burdensome for small, regulated entities or grant awardees. This is a welcome start and it will reduce regulatory compliance burdens and allow tax dollars to beneficially impact more entities.
    “However, there are bipartisan programs that would be impacted if the proposed budget is enacted, programs that have done much to help continuously clean up the air, water, and lands, as well as provide safe drinking water.
    “For example, the proposed budget would reduce funding for the Brownfields program and includes an 89% cut to the Clean Water and Drinking Water State Revolving Funds.
    “I and many of my colleagues have long been vocal about the importance of federal assistance for water infrastructure through the State Revolving Funds. In 2021, Congress made the largest bipartisan investment in the State Revolving Funds and water infrastructure in our nation’s history, delivering more than $50 billion for drinking water, wastewater, and stormwater programs.
    “State revolving funds have helped many West Virginians, and many around the country, get connected with the water access and resources that they need. I hope that we can work together through the Appropriations process, as well as through the committee’s reauthorizations efforts, to make sure that adequate resources remain available to support our water systems.
    “I look forward to building to that future with you, Mr. Administrator, over the next several years.”

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Fitzgerald’s Halting Uncertain Methods and Practices in Supervision (HUMPS) Act Passes Financial Services Committee

    Source: United States House of Representatives – Congressman Scott Fitzgerald (WI-05)

    WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05) introduced the Halting Uncertain Methods and Practices in Supervision (HUMPS) Act, which strengthens transparency in how banks are evaluated. The bill passed the House Financial Services Committee today by voice vote. Specifically, it directs the Federal Financial Institutions Examination Council (FFIEC) to revise the CAMELS rating system by establishing clear, objective standards for each component and updating the formula used to calculate a bank’s overall rating. It also calls for eliminating or reforming the subjective “Management” component, focusing instead on measurable risk governance and internal controls.

    “The HUMPS Act brings much-needed transparency and accountability to the bank rating process,” said Congressman Scott Fitzgerald. “The CAMELS rating system has a real impact on how banks operate—but right now, it gives regulators too much room to apply double standards. This bill ensures that supervisory ratings are based on transparent, quantifiable metrics, not political bias or personal opinion. It’s a necessary step to prevent debanking by removing subjectivity from banking oversight.”

    BACKGROUND: The CAMELS rating system—Capital adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity to market risk—is a supervisory tool used by federal regulators to assess the health and safety of financial institutions. These confidential ratings significantly affect decisions around mergers and acquisitions, deposit insurance premiums, and whether a bank is considered “well managed” for regulatory purposes. 

    However, the current framework gives regulators broad discretion, particularly in the “Management” component, which is often based on subjective judgments rather than objective metrics. This discretion has raised concerns about politicized supervision and “debanking.” When a bank’s supervisory rating can be downgraded due to undefined or opaque criteria, institutions may choose to “de-risk” by avoiding lawful but politically disfavored customers. This creates a chilling effect on financial access and weakens trust in the neutrality of bank oversight.

    SUPPORTERS: American Bankers Association, America’s Credit Unions, Bank Policy Institute, Financial Services Forum, and Wisconsin Bankers Association.

    Read the bill text here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Loudermilk’s TAILOR Act Passes Key House Committee – U.S. Representative Barry Loudermilk

    Source: United States House of Representatives – Representative Barry Loudermilk (R-GA)

    Washington, D.C. (May 21, 2025) | Rep. Barry Loudermilk (GA-11) issued the following statement after the House Committee on Financial Services passed his TAILOR Act (H.R. 3380):

    “In 1776 Thomas Paine wrote, ‘…government, even in its best state, is but a necessary evil; in its worst state an intolerable one…’ For many small businesses, trying to comply with droves of complex government regulations has become an intolerable evil, especially for our small community banks. Georgia has lost more banks than any other state, due to the overwhelming cost of government compliance.

    “While big banks have an abundance of lawyers and compliance specialists to comply with the myriad of federal regulations, small firms struggle to meet these complex and often conflicting regulations. Small banks tell me that trying to comply with one-size-fits-all regulations is like a slow and painful death by a thousand cuts.

    “This is why I introduced the TAILOR Act, which will require federal regulators to tailor their regulations in accordance with the size, business model, and risk of each type of firm that they regulate. This will allow these smaller banks and financial institutions to operate more efficiently, without fear of succumbing to the pressures of overly burdensome government regulations that were designed for big banks and larger financial institutions.”

    Background
    • This bill would require federal financial regulators to tailor the scope of their regulations to fit the risk profiles of individual business models.
    • Currently, most regulatory tailoring is done by asset value. This has the unintended consequence of deterring banks from passing key milestones due to the new regulatory requirements that would kick in on the other side, thus slowing healthy growth.
    • Risk-based tailoring is a much more customized approach, allowing banks to take healthy risks and truly innovate. Because the financial services industry can’t ‘innovate’ in the same way that a factory might innovate, by inventing a new and faster machine or process, much of the innovation depends on adopting new business models.

    Click here to read full bill text

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Aguilar Introduces the Housing Stability for Dreamers Act

    Source: United States House of Representatives – Representative Pete Aguilar (31 CD Ca)

    Last week, Reps. Pete Aguilar (D-CA-33), Juan Vargas (D-CA-52) and Sylvia Garcia (D-TX-29) introduced the Housing Stability for Dreamers Act. This bill would clarify that DACA recipients can access mortgages backed by the Federal Housing Administration (FHA), Department of Agriculture (USDA) and Department of Veterans Affairs (VA).
    During the first Trump Administration, the Department of Housing and Urban Development (HUD) upended years of settled policy and began quietly denying DACA recipients federally-backed loans. This led a bicameral group of lawmakers, including Reps. Aguilar, Vargas and Garcia, to request an investigation into whether the agency violated the Administrative Procedure Act and asked the Biden Administration to clarify that DACA recipients can qualify for federally-backed mortgages. In March, the Trump Administration announced that DACA recipients would again no longer be eligible for government-backed mortgages.
    According to estimates, thirty percent of DACA recipients are homeowners. DACA recipients have made over $760 million in mortgage payments and made significant economic contributions that are felt in their communities and nationwide. Yet, without congressional action, DACA recipients will no longer have access to some of the most important government programs to support wealth building and stability. 
    “We need to make homeownership more accessible for everyone. Dreamers and their families contribute to our economy and communities in countless ways and should not face even more barriers to owning a home and living the American dream,” said Rep. Pete Aguilar. “I am proud to partner with Reps. Vargas and Garcia to introduce legislation that would give Dreamers the same shot at owning a home as everyone else.” 
    “Dreamers and their families deserve an equal opportunity to the American Dream. That starts by ensuring they can permanently benefit from the same federal homeownership opportunities offered to all Americans,” said Rep. Juan Vargas. “This legislation is critical as the Trump Administration continues to target and discriminate against Dreamers and all immigrants.”
    “Dreamers are our neighbors, our coworkers, and an essential part of our communities. They work hard, pay taxes, and contribute to our economy. For many, homeownership is the key to building stability and achieving the American dream. No one should be denied that opportunity simply because of where they were born,” said Rep. Sylvia Garcia. “As the Trump administration once again tries to strip away protections and limit access to basic programs like federally-backed home loans, this bill is about standing up for their humanity, their rights, and their future. I am proud to co-lead this bill alongside Rep. Vargas and Rep. Aguilar to eliminate systemic barriers in lending and make sure that Dreamers are treated with the dignity and respect they deserve.”
    In addition to Reps. Aguilar, Vargas and Garcia, the Housing Stability for Dreamers Act is cosponsored by Reps. Yassamin Ansari (D-AZ-03), Julia Brownley (D-CA-26), Salud Carbajal (D-CA-24), Joaquin Castro (D-TX-20), Jesus “Chuy” Garcia (D-IL-04), Jimmy Gomez (D-CA-34), Robert Menendez (D-NJ-08), Eleanor Holmes Norton (D-DC-At-Large), Scott Peters (D-CA-50), Shri Thanedar (D-MI-13), Rashida Tlaib (D-MI-12) and Nydia Velázquez (D-NY-07).Rep. Aguilar serves as Chair of the House Democratic Caucus and as a member of the House Committee on Appropriations.

    MIL OSI USA News –

  • MIL-OSI: NowVertical Group Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Company Hosting Investor Webinar on Thursday May 22, 2025, at 10:00 AM EST

    • Q1 2025 revenue was $10.4 million, up 23% Y/Y excluding recent divestitures
    • Q1 2025 Income from Operations was $1.5 million, up 1,253% Y/Y excluding recent divestitures
    • Q1 2025 Adjusted EBITDA was $2.5 million, up 119% Y/Y excluding recent divestitures

    TORONTO, May 21, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a leader in AI-driven data solutions, announces financial results for its first fiscal quarter ended March 31, 2025. Unless otherwise specified, all dollar amounts are expressed in U.S. dollars. Management will host an investor webinar at 10:00 AM EST (7:00 AM PST) on Thursday May 22nd, to discuss the Company’s financial and business results.

    Selected Financial Highlights for the Three Months Ended March 31, 2025:

    • Revenue was $10.4 million in the three months ended March 31, 2025 (“Q1 2025”), a 20% decrease from $12.9 million for the three months ending March 31, 2024 (“Q1 2024”). Excluding the disposition of Allegient Defense, Inc. (“Allegient”) on May 24, 2024, Q1 2024 revenue was $8.4 million, translating to a year-over-year growth of 23%.
    • Gross Profit was $5.1 million in Q1 2025, a 15% decrease from $6.0 million in Q1 2024. Excluding the Allegient business, Q1 2024 gross profit was $4.5 million, translating to a year-over year increase of 15%.
    • Administrative Expenses were $3.6 million in Q1 2025, a 38% decrease from $5.8 million in Q1 2024. Excluding the Allegient business, Q1 2024 administrative expenses were $4.6 million, translating to a year-over-year decrease of 22%.
    • Income from Operations was $1.5 million in Q1 2025, a 660% increase from $0.2 million in Q1 2024. Excluding the Allegient business, Q1 2024 had a Loss from Operations of $0.1 million, translating to a year-over-year increase of 1,253%.
    • Adjusted EBITDA was $2.5 million in Q1 2025, a 69% increase from $1.5 million in Q1 2024. Excluding the Allegient business, Adjusted EBITDA was $1.2 million in Q1 2024, translating to a year-over-year increase of 119%.
    • Net Loss was $0.7 million in Q1 2025, a 55% decrease from $1.5 million in Q1 2024. Excluding the Allegient business, Net Loss was $1.9 million in Q1 2024, translating to a year-over-year decrease of 63%.

    “NOW again delivered a strong quarter and continues to demonstrate its transformation into a business defined by consistency, stability, and sustainable performance. Q1 2025 marks our fifth consecutive quarter of continuous growth and operational improvement, underscoring our momentum across the business,” said Sandeep Mendiratta, CEO of NOW. “We delivered Adjusted EBITDA of $2.5 million, representing an EBITDA margin of 24%, in line with our $10 million annual run-rate target. Our 23% year-over-year revenue growth is a direct result of disciplined execution and a sharpened operational focus. We have successfully renegotiated acquisition-related liabilities, unlocking an estimated $5.4 million in cash savings and improving our payment schedules. These efforts have strengthened our balance sheet and position us for sustained organic revenue growth with strong margins across our core markets.”

    Q1 2025 and Subsequent Business Highlights:

    • May 13, 2025: Announced that the company was named Qlik Latin America Channel Growth Partner of the Year 2024. The award highlights NOW’s ability to scale customer impact and accelerate business value.
    • May 08, 2025:  Announced its UK operations have been recognised as a Google Cloud Premier Partner, the highest designation within the Google Cloud Partner Advantage programme.
    • April 22, 2025: The company announced that further to its news release on March 10, 2025, it has settled aggregate of CAD$35,220.62 representing the net amount of certain bonus entitlements owing to certain employees through the issuance of an aggregate of 93,917 Class A Subordinate voting shares in the capital of the Company
    • April 17, 2025: NOW announced the launch of its flagship Data Catalyst Solution on the Microsoft Azure Marketplace, reinforcing the Company’s strategic positioning at the intersection of enterprise AI, data infrastructure modernisation, and Microsoft ecosystem expansion.
    • April 14, 2025: The company announced that it will be presenting at the Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub.
    • April 08, 2025: Announced that it has received the 2025 Google Cloud Data & Analytics Partner of the Year award for Latin America.
    • April 01, 2025: NOW announced its 2024 record financial results.

    Q1 2025 Financial Results Investor Webinar:

    The Company invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Management will discuss Q1 2025 results, followed by a question-and-answer session.

    Investor Webinar Registration:

    Time: Thursday, May 22, 2025, 10:00 AM in Eastern Time (US and Canada)

    Registration Link: 
    https://us02web.zoom.us/webinar/register/WN_81iVl2rzQrS7E0lJ7xjlPA

    A recording of the webinar and supporting materials will be made available in the investor’s section of the Company’s website at https://www.nowvertical.com/news-and-media.

    Additional Information:

    The Company’s first quarter 2025 condensed consolidated interim financial statements, notes to financial statements, and management’s discussion and analysis for the three ended March 31, 2025, are available on the Company’s SEDAR+ profile at www.sedarplus.com. Unless otherwise indicated, all references to “$” in this press release refer to US dollars, and all references to “CAD$” in this press release refer to Canadian dollars.

    About NowVertical Group Inc.

    The Company is a data analytics and AI solutions company offering comprehensive solutions, software and services. As a global provider, we deliver cutting-edge data, technology, and artificial intelligence (AI) applications to private and public enterprises. Our solutions form the bedrock of modern enterprises, converting data investments into business solutions. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.

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

    For further information, please contact:

    Andre Garber, CDO 
    IR@nowvertical.com 
    +1(647)947-0223 

    Investor Relations:  
    Bristol Capital Ltd.
    Stefan Eftychiou
    stefan@bristolir.com
    +1(905)326-1888 x60 

    Cautionary Note Regarding Non-IFRS Measures:

    This news release refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non IFRS financial measures including “EBITDA”, and “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operational performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts.

    Non-IFRS Measures:

    The non-IFRS financial measures referred to in this news release are defined below. The management discussion and analysis for the three months ended March 31, 2025, available at nowvertical.com and on SEDAR+ at www.sedarplus.com contains supporting calculations for Adjusted Revenue, EBITDA % and Adjusted EBITDA

    “Adjusted EBITDA” adjusts net income (loss) before depreciation and amortization expenses, net interest costs, and provision for income taxes for revenue adjustments in “Adjusted Revenue” and items such as acquisition accounting adjustments, transaction expenses related to acquisitions, transactional gains or losses on assets, asset impairment charges, non-recurring expense items, non-cash stock compensation costs, and the full year impact of cost synergies related to restructuring activities, such as a reduction of employees.

    “EBITDA %” is defined as Adjusted EBITDA as a percentage of Adjusted Revenue.

    “Adjusted Revenue” adjusts revenue to eliminate the effects of acquisition accounting on the Company’s revenues, which predominantly pertain to fair market value adjustments to the opening deferred revenue balances of acquired companies.

    Cautionary note regarding Forward-Looking Statements

    This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

    All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

    The MIL Network –

  • MIL-OSI USA: Kaine & Cassidy Introduce Legislation to Help Workers Better Prepare for Retirement

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine
    WASHINGTON, D.C. – Today, U.S. Senators Tim Kaine (D-VA), a member of the Senate Health, Education, Labor and Pensions (HELP) Committee, and Senator Bill Cassidy, M.D. (R-LA), the HELP Committee Chair, introduced the Auto Reenroll Act, legislation to help American workers take advantage of their available employer-sponsored retirement plans and full employer match offers by permitting more frequent opportunities for employees to opt in.
    “For many Americans, employer-sponsored retirement plans become a crucial part of their long-term financial security,” said Kaine. “That’s why it’s important that we make it easier for more workers to take full advantage of these opportunities. I’m glad to team up with Senator Cassidy to introduce our bipartisan bill to help make that happen so more Americans can get enrolled and improve their financial footing.”
    “Americans should have every opportunity to invest for a secure retirement,” said Dr. Cassidy. “Auto-reenrollment enables workers to be in better control of their finances so they can be ready for retirement.”
    Currently, one in four American workers are not enrolled in their employer-sponsored retirement plans, and one-third are not taking advantage of their full employer matching contribution. Proactively encouraging these workers to enroll is critical because many choose not to participate in these programs when they are first hired or making entry level wages, but then may never be promoted to reconsider that decision or increase their contribution as their income increases. That can lead to significant confusion—59 percent of workers who are not participating in their workplace plans thought they were participating when surveyed.
    Specifically, the Auto Reenroll Act would address this issue by amending safe harbors in the Employee Retirement Income Security (ERISA) and Internal Revenue Code to permit plan sponsors to reenroll non-participants at least once every three years, unless the individual affirmatively opts out again.
    The legislation is endorsed by AARP, the American Benefits Council, American Retirement Association, BPC Action, Edward Jones, Empower, LPL Financial, Nationwide Retirement Solutions, Transamerica, and TIAA.
    Full text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville Introduces Tuskegee President to Senate HELP Committee, Discusses Cost versus Benefits of Higher Education

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) spoke with Dr. Andrew Gillen, Dr. Michael Lindsay, Dr. Mark Brown, Mr. Mike Pierce, and Dr. Russell Lowery-Hart during a Senate Health, Education, Labor, and Pensions (HELP) Committee hearing on the state of higher education. During the hearing, Sen. Tuberville discussed the reasons for the skyrocket of prices in higher education institutions during recent years. 
    Sen. Tuberville also introduced Dr. Mark Brown, President of Tuskegee University in Tuskegee, Alabama, to the Committee.
    Read Sen. Tuberville’s remarks below or watch on YouTube or Rumble. 
    Sen. Tuberville’s introduction of Dr. Brown can be found below or on YouTube or Rumble.

    INTRODUCTION OF DR. MARK BROWN:
    TUBERVILLE: “It’s my pleasure to introduce our second witness, Dr. Mark A. Brown. As a matter of fact, he’s about 20 miles from where I live, as we speak, in Auburn, Alabama. Dr. Brown is the president of Tuskegee University, home of the Tuskegee Airmen, who we’re very proud of. It’s a Historically Black College in Alabama. He is the first alumnus in Tuskegee’s 143-year-history to lead the university. A retired Air Force Major General, Dr. Brown brings unmatched experience in education leadership, federal student aid policy, and HBCU advancement. We are thankful to have you here today to hear your perspective, Dr. Brown. “
    ON THE COST OF HIGHER EDUCATION:
    TUBERVILLE: “Gentlemen, thanks for being here. I’m passionate about this. I spent [40] years in education—more than anybody in this room probably, maybe other than Dr. Graham, although you spent a little time in the military. I’ve been in high schools all across this country, almost in all 50 states. We’ve gone backwards. [We’re here] today to talk about higher education. I spent 30 years in that and have done a lot of great things for a lot of kids, men and women, rich and poor. It’s got to be merit based, folks. If we don’t merit base this thing, we will not survive as an educational system. This country gives you an opportunity.
    I was in a situation where athletics was merit-based. I didn’t care who you were. I had to win games. I recruited kids that had good grades, would go to class, and could play football. And if they couldn’t do those three things and work at it, I didn’t recruit them. It’s got to be the same thing in college in terms of getting a good education. I know of a school that has a happiness degree. That [isn’t] gonna get it. I’m for paying everybody’s way through college, but not for a degree where when they get out, they can’t get a job at Walmart. We need degrees that kids can prosper [with], raise a family, and have a great life in this country. So, I’d like to ask each one of you just one question, starting over with Dr. Gillen.
    Dr. Gillen, what factors do you see that have caused massive skyrocketing costs at our universities across the country?”
    GILLEN: “So, I would argue that the main driver of higher college cost is what’s called the Bowen Revenue Theory of Cost. When you look at higher education, […] the idea here is not that, you know, higher faculty salaries or increases in institutional aid are driving higher spending. It’s that when more revenue is available, colleges will spend as much as they can. And it makes sense, these are all mission driven institutions, right? If you give each of these schools a million more dollars, they’ll find a good way to spend it. The problem is if you keep doing that, eventually those good ways to spend it aren’t so convincing anymore. But when we have these mission driven institutions, the more money they have, the more money they’re going to spend.”
    TUBERVILLE: “Dr. Lindsay?”
    LINDSAY: “I think the opportunity that is before is, as you say, to bring accountability and outcomes. And I think we have to be very intentional about the kind of formation that’s occurring on our campuses. I’m really proud of the fact that we have something called the Good Work Initiative, which is basically trying to transform on campus employment opportunities where students are paid a little bit more than minimum wage to give them a little bit more spending money, but we also pair it with professional development and vocational discernment exercises to help them. So, that when they graduate, they actually have that kind of professional experience. It’s a pilot [program]. We’ve had good success with it. We’re allowing the opportunity for more students to take on more leadership roles, giving them good things for their resumes, but also buttressing their opportunities when they graduate.”
    TUBERVILLE: “Dr. Brown?”
    BROWN: “Senator, I’ll use a real example. I went to my Board of Trustees for this upcoming year and said that I would like to freeze tuition for two years at our school. They approved the freezing of the tuition, but when I looked at the cost of insurance—which is a subcomponent of that tuition—we had to go up. So, the real cost to the customer—the family—was more.
    The same is true of the cost of dining, the cost of food that goes into a dining hall contract, and the cost of the utilities it takes to run the campus. My campus is much like any other business. Those costs, we would not be able to absorb, and so our cost went up because costs in the economy went up. It was not that we would spend more because we had more. Those costs were real, and we had to realize those as a school [that] operates just like a business in that sense.”
    LOWERY-HART: “Thank you for the question. I would say in the community college sector, there hasn’t been a massive skyrocket rising in prices. At Austin Community College, we haven’t raised tuition in 12 years. I think we’ve raised it once in 15 [years]. We’re the sector of higher education that lives within our means, because our students are so price-sensitive. And I think there could be a lot to learn from how community colleges effectively manage their budgets.”
    TUBERVILLE: “I agree with you on that. I’ve been in a lot of community colleges. You do a good job, by the way. And I think more kids need to go to community colleges.
    Mr. Pierce?”
    PIERCE: “I think it’s my turn to talk about for-profit colleges, which seems to be missing from my colleague’s responses to your question. We have watched the proprietary sector raise costs far in excess of other sectors of the higher education system. And we’ve also watched some of the largest participants in the for-profit college market turn into private non-profit colleges or enter into deals with public colleges. I think we’re not at a place where we were a decade ago talking about the proprietary sector. We should be looking at the backroom deals that some of the largest colleges in the country are cutting with these private companies and how these deals are driving the increase in costs that are being pushed on our most vulnerable students.”
    TUBERVILLE: “Good. Thank you.
    Thank you, Mr. Chairman.”
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI Canada: Construction begins on student housing at SFU, more child care on the way

    Source: Government of Canada regional news

    Students, staff and the surrounding community are one step closer to more on-campus supports at Simon Fraser University (SFU) – Burnaby as construction starts on a new student residence and will begin later this year on a new child care facility.  

    “A safe and secure place to live and conveniently located child care can be transformative for students and parents working or studying on campus,” said Bowinn Ma, Minister of Infrastructure. “These new facilities will provide shorter commute times, allow students to focus on their studies and help ease pressure on the local rental market.  Projects like this are one way we are investing in infrastructure that supports people in B.C.”

    The new eight-storey residence will provide an additional 445 beds for students at the Burnaby campus. It will include a mix of studio and four-bedroom apartments, as well as two- and four-bedroom townhouses. Construction is expected to start in fall 2025 on a stand-alone child care centre, which will add 160 new child care spaces to more than 410 existing spaces in the Burnaby campus and at SFU’s Sapperton location. With these new spaces, more than 570 child care spaces will provide support to the SFU community.

    Once complete, the residence will bring the total number of student beds on the SFU Burnaby campus to more than 3,000.  

    “I have met with many students at post-secondary campuses in B.C., and access to housing and child care are big factors when deciding if they can afford to build a better life for themselves,” said Anne Kang, Minister of Post-Secondary Education and Future Skills. “Since 2018, our government has made historic investments in student housing, making it easier for thousands of students across the province to gain the skills they need to fill the in-demand jobs our economy needs.”

    Construction is expected to be completed on the student-housing residence and child care facility in fall 2027. The total capital cost of the project is $196.6 million, shared between the Province and SFU.

    This project is Phase 3 of SFU’s ongoing student-housing expansion. Phases 1 and 2 added a combined 856 new beds for students, with funding for Phase 2 provided by the Province.

    “Watching the Phase 3 site come to life has reinforced how vital new student housing is for our community,” said Ali Asgar Abdul Udaipurwala, a fourth-year undergraduate student at SFU’s Beedie School of Business, who lives in residence at the Burnaby campus. “As a community adviser and area co-ordinator, I have loved planning late-night events, movie nights and study breaks in our halls. I am excited for Phase 3 to become our next home away from home.”

    Since 2018, the government has committed $2 billion to expand on-campus student housing at public post-secondary institutions throughout B.C. To date, 6,100 beds for students are open, with another 4,600 underway.

    Since 2018, ChildCareBC’s space-creation programs have helped fund the creation of more than 40,900 new licensed child care spaces in B.C., with more than 24,900 of those operational. This child care project received $16 million through the ChildCareBC New Spaces Fund, which is jointly supported by provincial investments and federal funding provided under the 2021-22 to 2025-26 Canada-British Columbia Canada-wide Early Learning and Child Care Agreement. British Columbia and the federal government signed an extension to the agreement for 2026-27 to 2030-31.

    Quotes:

    Joy Johnson, president, Simon Fraser University –

    “We are grateful for the Province’s continued investment in student housing and child care across the province. I look forward to continued growth of SFU’s resident student community on Burnaby Mountain and to continued partnership with the provincial government as we move forward. The post-secondary sector is united in our efforts to support British Columbians in tackling shared challenges, from housing to health care and beyond, as we make a difference for students and for communities across B.C.”

    Rohini Arora, parliamentary secretary for child care, and MLA for Burnaby East –

    “Creating 160 new child care spaces on SFU campus, where hard-working students, families and single parents can easily access the care they need, is one of the ways we are helping Burnaby get ahead. By ensuring parents, especially mothers, can access high-quality child care in Burnaby while attending higher education or working, we are setting both this generation and the next up for success.”

    Learn More:

    For more information about Simon Fraser University, visit: https://www.sfu.ca/

    MIL OSI Canada News –

  • MIL-OSI USA: Rep. Clyde Leads Letter Requesting Risk Assessment of Chatuge Dam & Economic Impact Analysis for Spillway Safety Modifications

    Source: United States House of Representatives – Representative Andrew S. Clyde (R-GA)

    GAINESVILLE, GA — Today, Reps. Andrew Clyde (GA-09) and Chuck Edwards (NC-11) sent a letter to Tennessee Valley Authority (TVA) President and CEO Don Moul advocating for a sensible approach to address Chatuge Dam spillway safety concerns. Additionally, the lawmakers requested critical information central to the modifications, including the TVA’s completed risk assessment and a comprehensive economic impact analysis of each proposal. 

    Reps. Clyde and Edwards highlight the potential economic impacts that TVA’s current proposals would have on their communities:

    “We are writing to express our grave concern regarding the proposed Chatuge Dam Spillway Safety Modifications at Lake Chatuge, which is located in both of our districts. While we recognize the critical importance of ensuring the safe operation of Chatuge Dam – and safeguarding the many residents living in the valleys below – we urge you to carefully consider the potential economic impacts that any lake drawdowns would have on the residents and small business owners of the mountain communities of Hiawassee, Georgia, and Hayesville, North Carolina. These towns and surrounding mountain communities rely heavily on Lake Chatuge’s recreational tourism during the summer months to sustain their rural economies.”

    The lawmakers detail how devastating a potential lake drawdown would be for North Georgia and Western North Carolina:

    “…the proposals outlined by the TVA for potential repairs include lake drawdowns to an elevation as low as 1,908 feet – 10 feet below the normal winter pool – for the entire duration of the construction project, with some proposals expected to last as long as eight years. Such drawdowns would devastate the rural, mountain economies of surrounding towns, including Hiawassee, Georgia and Hayesville, North Carolina – leading to the shuttering of small businesses, the displacement of rural workers, and the upending of these communities for decades to come. For example, a 2021 assessment by the University of Georgia found that Towns County’s tourism-related output was $117.4 million, supporting 1,362 jobs or approximately 24% of county employment, and generated $30.8 million in wages.”

    Additionally, the lawmakers share their constituents’ serious concerns about the TVA’s proposals: 

    “Residents across Towns County, Georgia and Clay County, North Carolina have contacted our offices to express serious concerns about the potential economic impacts of the TVA’s proposed lake drawdowns on their small businesses and financial futures.

    “One constituent shared how the proposed drawdown would diminish the time they cherish with friends and family on the lake. A local business owner, whose livelihood depends on Lake Chatuge’s seasonal tourism, wrote about the devastating economic consequences an eight-year drawdown would have for Towns County: ‘Implementing a drawdown of this magnitude and duration threatens to eliminate thousands of jobs… bankrupt numerous businesses… [and] erode the tax base.’”

    In closing, Reps. Clyde and Edwards request critical information central to the TVA’s spillway modification proposals:

    “Specifically, we request that the Tennessee Valley Authority:

    • Publish the TVA’s completed risk assessment of the Chatuge Dam;
    •  Commission a comprehensive economic impact analysis for each proposal outlined in the April 2025 Notice of Intent (NOI);
    •   Explore mitigation measures that would minimize economic harm, such as restricting drawdowns to recreation off-seasons.


    “We further ask that the TVA maintain full transparency in its communications with our offices and with the residents of surrounding communities throughout the Lake Chatuge dam modification process. We look forward to working with local officials, stakeholders, and TVA to reach the best solution that effectively balances the safety of spillway operations and the continued economic prosperity of our mountain communities.”

    Read the full letter HERE.

    Background

    A recent TVA study identified a key vulnerability in the spillway of Chatuge Dam. While the conditions of the current spillway are not an emergency, the TVA is aiming to improve the safety of the spillway to reduce the risk of the dam’s long-term operations. The TVA study has judged the spillway at Chatuge Dam exhibits some of the vulnerabilities that led to the damage and failure of the Oroville Dam spillway in California. To address the issue, the agency announced four potential alternatives for a long-term solution.

    Last month, Rep. Clyde visited the Chatuge Dam with Towns County Sole Commissioner Cliff Bradshaw, Towns County EMA Director Marty Roberts, and members of Rep. Chuck Edwards’ staff to meet with Tennessee Valley Authority officials and discuss the TVA’s proposed plans to address spillway safety concerns.

    Additional information on the Tennessee Valley Authority receiving public input on Chatuge Dam safety modifications can be found HERE.

    Details on the TVA’s notice of intent, including proposed plans, is available in the Federal Register HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Clyde Leads Letter Requesting Risk Assessment of Chatuge Dam & Economic Impact Analysis for Spillway Safety Modifications

    Source: United States House of Representatives – Representative Andrew S. Clyde (R-GA)

    GAINESVILLE, GA — Today, Reps. Andrew Clyde (GA-09) and Chuck Edwards (NC-11) sent a letter to Tennessee Valley Authority (TVA) President and CEO Don Moul advocating for a sensible approach to address Chatuge Dam spillway safety concerns. Additionally, the lawmakers requested critical information central to the modifications, including the TVA’s completed risk assessment and a comprehensive economic impact analysis of each proposal. 

    Reps. Clyde and Edwards highlight the potential economic impacts that TVA’s current proposals would have on their communities:

    “We are writing to express our grave concern regarding the proposed Chatuge Dam Spillway Safety Modifications at Lake Chatuge, which is located in both of our districts. While we recognize the critical importance of ensuring the safe operation of Chatuge Dam – and safeguarding the many residents living in the valleys below – we urge you to carefully consider the potential economic impacts that any lake drawdowns would have on the residents and small business owners of the mountain communities of Hiawassee, Georgia, and Hayesville, North Carolina. These towns and surrounding mountain communities rely heavily on Lake Chatuge’s recreational tourism during the summer months to sustain their rural economies.”

    The lawmakers detail how devastating a potential lake drawdown would be for North Georgia and Western North Carolina:

    “…the proposals outlined by the TVA for potential repairs include lake drawdowns to an elevation as low as 1,908 feet – 10 feet below the normal winter pool – for the entire duration of the construction project, with some proposals expected to last as long as eight years. Such drawdowns would devastate the rural, mountain economies of surrounding towns, including Hiawassee, Georgia and Hayesville, North Carolina – leading to the shuttering of small businesses, the displacement of rural workers, and the upending of these communities for decades to come. For example, a 2021 assessment by the University of Georgia found that Towns County’s tourism-related output was $117.4 million, supporting 1,362 jobs or approximately 24% of county employment, and generated $30.8 million in wages.”

    Additionally, the lawmakers share their constituents’ serious concerns about the TVA’s proposals: 

    “Residents across Towns County, Georgia and Clay County, North Carolina have contacted our offices to express serious concerns about the potential economic impacts of the TVA’s proposed lake drawdowns on their small businesses and financial futures.

    “One constituent shared how the proposed drawdown would diminish the time they cherish with friends and family on the lake. A local business owner, whose livelihood depends on Lake Chatuge’s seasonal tourism, wrote about the devastating economic consequences an eight-year drawdown would have for Towns County: ‘Implementing a drawdown of this magnitude and duration threatens to eliminate thousands of jobs… bankrupt numerous businesses… [and] erode the tax base.’”

    In closing, Reps. Clyde and Edwards request critical information central to the TVA’s spillway modification proposals:

    “Specifically, we request that the Tennessee Valley Authority:

    • Publish the TVA’s completed risk assessment of the Chatuge Dam;
    •  Commission a comprehensive economic impact analysis for each proposal outlined in the April 2025 Notice of Intent (NOI);
    •   Explore mitigation measures that would minimize economic harm, such as restricting drawdowns to recreation off-seasons.


    “We further ask that the TVA maintain full transparency in its communications with our offices and with the residents of surrounding communities throughout the Lake Chatuge dam modification process. We look forward to working with local officials, stakeholders, and TVA to reach the best solution that effectively balances the safety of spillway operations and the continued economic prosperity of our mountain communities.”

    Read the full letter HERE.

    Background

    A recent TVA study identified a key vulnerability in the spillway of Chatuge Dam. While the conditions of the current spillway are not an emergency, the TVA is aiming to improve the safety of the spillway to reduce the risk of the dam’s long-term operations. The TVA study has judged the spillway at Chatuge Dam exhibits some of the vulnerabilities that led to the damage and failure of the Oroville Dam spillway in California. To address the issue, the agency announced four potential alternatives for a long-term solution.

    Last month, Rep. Clyde visited the Chatuge Dam with Towns County Sole Commissioner Cliff Bradshaw, Towns County EMA Director Marty Roberts, and members of Rep. Chuck Edwards’ staff to meet with Tennessee Valley Authority officials and discuss the TVA’s proposed plans to address spillway safety concerns.

    Additional information on the Tennessee Valley Authority receiving public input on Chatuge Dam safety modifications can be found HERE.

    Details on the TVA’s notice of intent, including proposed plans, is available in the Federal Register HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Durbin Delivers Opening Statement During Senate Judiciary Committee Nominations Hearing On Four Executive. Branch Nominees

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    May 21, 2025
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, today delivered an opening statement during a Senate Judiciary Committee hearing on the nominations of Joseph Edlow, to be Director of United States Citizenship and Immigration Services (USCIS); Elliot Gaiser, to be Assistant Attorney General for the Office of Legal Counsel (OLC); John Squires, to be Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office (USPTO); and Stanley Woodward, to be Associate Attorney General. Durbin’s opening statement focused on whether the nominees’ allegiance is to the President or to the rule of law.
    Key Quotes:
    “Earlier this year, I asked Justice Department nominees a simple question: may a public official defy a court order? Shockingly, the nominees, including the future Solicitor General John Sauer, refused to give an unequivocal answer. Just days ago, Mr. Sauer repeated this egregious error before the Supreme Court. During arguments in the case challenging the President’s illegal birthright citizenship executive order, Justice Barrett, …a Trump nominee, asked Mr. Sauer if the Administration would follow circuit court rulings. Mr. Sauer responded that the federal government’s policy is to ‘generally respect circuit precedent but not necessarily in every case.’ As our colleague Senator Kennedy said earlier this year, ‘don’t ever, ever, take the position that you’re not going to follow the order of a federal court. Ever.’”
    “Mr. Gaiser has been nominated to lead the Office of Legal Counsel, which provides legal advice to the President and all executive branch agencies. I want to hear whether he believes that the policy of the federal government [should be] to ignore court rulings that don’t suit the President’s whims.”
    “Beyond unlawfully attempting to end birthright citizenship, which is enshrined in the Constitution, the Administration has made it harder for legal immigrants to apply for citizenship and naturalize. This Administration has made it harder for Dreamers, who want to do the right thing. Now these were kids who were brought to the United States by their parents… They want to apply for programs like DACA so that they can receive work permits and continue to contribute to the American economy. I am disappointed to hear that Mr. Edlow, nominated to lead USCIS, opposes DACA, when even President Trump claims that he doesn’t want to deport Dreamers. Despite his personal opinions, I want to hear how Mr. Edlow will ensure that USCIS will promptly process DACA applications of eligible Dreamers.”
    “In the name of carrying out Trump’s mass deportation agenda, Attorney General Bondi has made DOJ a shell of itself. Thousands of federal law enforcement agents have been diverted from preventing drug trafficking and violent crime to deporting immigrants who pose no threat to our safety. Mr. Woodward, nominated to be the number three official at the Justice Department, would oversee Justice Department grantmaking, the Civil Rights Division, and many other components that are now under attack.”
    “The Justice Department, at the direction of DOGE, took their chainsaw to hundreds of millions of dollars in federal grants to support public safety and our police. Programs supporting violence reduction, victims’ services, child protection, and substance use and mental health treatment have been gutted… For nearly 70 years, under Republican and Democratic Administrations alike, the Civil Rights Division protected the civil and constitutional rights of all Americans. Once known as the ‘crown jewel’ of the Justice Department, it has now been reduced to litigating a narrow set of cases aligned with the MAGA agenda. This is anathema to how this Division has operated historically.”
    “I want to hear from Mr. Woodward whether the Justice Department will continue to capitulate or if he will help restore the Justice Department to its intended function—to protect the safety and rights of all Americans.”
    Video of Durbin’s opening statement is available here.
    Audio of Durbin’s opening statement is available here.
    Footage of Durbin’s opening statement is available here for TV Stations.
    -30-

    MIL OSI USA News –

  • MIL-OSI: First Merchants Corporation Announces Changed Ex-Dividend Date for Previously Announced Dividend

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., May 21, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq: FRME) has amended the ex-dividend date for its recently declared cash dividend of $0.36 from June 5, 2025, to June 6, 2025.  The payment date for the quarterly dividend will remain as June 20, 2025, as previously announced on May 16, 2025.

    About First Merchants Corporation:

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI: Clairvest Invests in Beneficial Reuse Management

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 21, 2025 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners VII (“CEP VII”, collectively “Clairvest”), has recapitalized and invested in Beneficial Reuse Management (“BRM” or the “Company”) from Skyline Global Partners and other shareholders. Clairvest has been actively investing in the environmental services sector for over 19 years, and this transaction represents our 10th partnership in the industry.

    BRM distributes products to the agriculture, landscape, wallboard, and construction end-markets by reusing or converting certain industrial waste streams into value-add products. BRM was founded in 1999 by Dave Schuurman and is currently led by Trevor Schuurman as its CEO & President. Headquartered in Chicago, Illinois, BRM operates six processing and manufacturing facilities and maintains a distribution network of over 116 locations to store and distribute materials for beneficial reuse programs.

    “BRM is a unique company delivering a compelling value proposition for its customer base, including: (i) meeting the growing demand for specialty agricultural nutrients and recycled wallboard, and (ii) providing innovative waste disposal and recycling solutions for industrial waste generators. We are excited to partner with and support Trevor and his management team to execute an aggressive growth plan and become a leading beneficial reuse and industrial recycling company in the U.S.,” said Michael Castellarin, Managing Director of Clairvest.

    “Finding innovative and environmentally friendly waste disposal alternatives for our customers has been a key focus for our business over the past two decades. We remain dedicated to partnering with our customers to provide innovative and effective beneficial reuse solutions – all while contributing to a healthier planet. With Clairvest’s deep industry expertise and strong track record supporting the growth of its partners, we are gaining more than just a capital partner – we are gaining a strategic ally to support our continued growth,” said Trevor Schuurman, CEO & President of BRM.

    Raymond James served as exclusive financial advisor to BRM.

    The BRM investment is Clairvest’s 69th platform investment and the third investment of CEP VII, a US$1.2 billion investment pool, US$300 million of which is from CVG.

    About Clairvest
    Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with CAD $4.6 billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 69 different platform companies and generated top quartile performance over an extended period.

    Contact Information
    Stephanie Lo
    Director of Investor Relations and Marketing
    Clairvest Group Inc.
    Tel: (416) 925-9270
    stephaniel@clairvest.com

    The MIL Network –

  • MIL-OSI USA: Padilla, Schiff Condemn Trump Administration’s Student Visa Revocations

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)
    WASHINGTON, D.C. — U.S. Senators Alex Padilla, Ranking Member of the Senate Judiciary Immigration Subcommittee, and Adam Schiff (both D-Calif.) blasted the Trump Administration’s recent harmful revocations of international student visas, including on ideological grounds, underscoring the lack of due process regarding these revocations and the chilling effect of these actions in suppressing freedom of thought and expression. In their letter to Secretary of State Marco Rubio and Department of Homeland Security (DHS) Secretary Kristi Noem, the Senators condemn the revocation of hundreds of California student visas and Immigration and Customs Enforcement’s (ICE) termination of several hundred California students’ Student and Exchange Visitor Information System (SEVIS) records.
    The Senators called on the State Department to immediately stop their “Catch and Revoke” AI-powered initiative, an effort to monitor millions of social media accounts of student visa holders and green card holders to gather evidence of alleged terrorist sympathies. The technology is reportedly being used to monitor international students’ speech through SEVIS and other publicly available resources, leading to the revocation of student visas or green cards for students exercising peaceful expression, without due process. This step to surveil international students’ activity is an unprecedented leap toward stifling students’ First Amendment rights and their freedom of speech. The Senators pushed for restoring revoked visas and full transparency.
    While the Department of Justice has reversed the termination of students’ SEVIS records, the student visa revocations under Catch and Revoke remain ongoing and are instilling fear and uncertainty among international students at colleges and universities in California and across the country.
    “These visa revocations and record terminations constitute unprecedented and unconstitutional attacks on freedom of thought and expression that impact international and U.S. citizen students alike at our nation’s colleges and universities,” wrote the Senators. “While we welcome the news that the Administration has taken steps to rectify the SEVIS record terminations, these actions taken all together still call into question our nation’s bedrock commitment to freedom of expression. We urge the State Department and DHS to suspend the ‘Catch and Revoke’ initiative, which continues to cause uncertainty, erode due process, and chill free speech and expression among students.”
    “The actions taken as part of the ‘Catch and Revoke’ initiative suggest a troubling pattern of misusing immigration enforcement to suppress dissent, intimidate politically active students, and chill Constitutionally protected expression,” continued the Senators. “Without transparency or independent oversight, the risk of abuse continues to grow. In fact, USCIS is now openly targeting speech by noncitizens with other immigration statuses, not just students.”
    The Senators detailed a series of other alarming incidents targeting international students, as ICE has detained students on university campuses, at ports of entry, and in their own homes, often without notice or time to contact an attorney. Many of these cruel arrests were based on limited information within these students’ visa applications and violate the right to due process.
    “Reports indicate that ICE has arrested students based on vague or previously disclosed information in their visa applications — such as social media posts, protest participation, or lawful political associations — as justification for their detention,” added the Senators. “If true, these practices represent not just an overreach of immigration authority but a violation of students’ First Amendment rights. These processes do not appear to be conducted with consideration for students’ due process and require immediate remediation.”
    Padilla and Schiff highlighted the immense contributions international students make to colleges and universities in California and nationwide. California’s more than 140,000 international students contribute roughly $6.4 billion to the U.S. economy and support about 55,114 jobs. These students also strengthen and help the United States secure its global leadership in science, technology, and research; protect U.S. national security interests; and promote innovation.
    The Senators emphasized the critical role California’s higher education system plays in powering the U.S. economy and warned that the attacks on the state’s international students jeopardize the country’s economic future.
    “California’s higher education system is the largest in the nation and considered one of the best in the world, driving global economic mobility—and fueling California’s growth into the fourth largest economy in the world,” wrote the Senators. “These institutions serve as beacons of opportunity and economic potential that transform the lives of hundreds of thousands of students in providing a better life for themselves, their families, and future generations. However, this Administration’s attacks on institutions of higher education and international students, who add immense value to our universities, puts our nation’s economic future at risk.”
    Last month, Senators Padilla and Schiff joined 34 Democrats in pressing the Trump Administration to reconsider recent decisions to revoke student visas. In 2021, Padilla led a group of 23 Senators in calling on the State Department to address the backlog of visas for international students. Padilla also chaired a hearing entitled “Strengthening our Workforce and Economy through Higher Education and Immigration” in 2022, highlighting the challenges undocumented students and international students face in seeking higher education and obtaining jobs in the United States.
    Full text of the letter is available here and below:
    Dear Secretary Rubio and Secretary Noem:
    We write to express our increasing concern about actions targeting international students by the State Department and by Immigration and Customs Enforcement (ICE). Starting earlier this year, the State Department began revoking hundreds of student visas including on apparent ideological grounds, revoking roughly a hundred visas in California alone. These revocations have been conducted by the State Department through its AI-enabled “Catch and Revoke” initiative, instructing affected students to leave the country voluntarily or risk facing deportation proceedings. At the same time, ICE began terminating Student and Exchange Visitor Information System (SEVIS) records for thousands of students—leaving them uncertain about their ability to continue their studies. This includes at least two hundred students in California.
    These visa revocations and record terminations constitute unprecedented and unconstitutional attacks on freedom of thought and expression that impact international and U.S. citizen students alike at our nation’s colleges and universities. While we welcome the news that the Administration has taken steps to rectify the SEVIS record terminations, these actions taken all together still call into question our nation’s bedrock commitment to freedom of expression. We urge the State Department and DHS to suspend the “Catch and Revoke” initiative, which continues to cause uncertainty, erode due process, and chill free speech and expression among students.
    Colleges and universities across the U.S. have long benefitted from the enrollment and participation of international students, who contribute immensely to academic, scientific, and cultural life at schools all around the country. This should not be a partisan issue—there are over 1.1 million international students all over the country, across many states, and the District of Columbia. California enrolls more than 140,850 international students who contribute approximately $6.4 billion to our economy, supporting around 55,114 jobs. Nationally, over 1.12 million international students contribute roughly $43.8 billion to the U.S. economy and support over 370,000 jobs. They also strengthen our national security by fostering global partnerships, cross-cultural understanding, and long-term diplomatic ties with future world leaders educated in the U.S. By attracting top talent from around the globe, we bolster our workforce, drive innovation, and better position ourselves to maintain our competitive edge in science, technology, and research.
    In addition to the State Department visa revocations, multiple alarming incidents have surfaced in recent months involving international students detained by immigration enforcement at university campuses, ports of entry, and even in their homes. In a significant departure from normal practice, these students were, in many cases, not provided prior notice and given no time to contact an attorney, leaving many with few options to defend their nonimmigrant status and their ability to continue studying in the United States. Reports indicate that ICE has arrested students based on vague or previously disclosed information in their visa applications—such as social media posts, protest participation, or lawful political associations—as justification for their detention. If true, these practices represent not just an overreach of immigration authority but a violation of students’ First Amendment rights. These processes do not appear to be conducted with consideration for students’ due process and require immediate remediation.
    The actions taken as part of the “Catch and Revoke” initiative suggest a troubling pattern of misusing immigration enforcement to suppress dissent, intimidate politically active students, and chill Constitutionally protected expression. Without transparency or independent oversight, the risk of abuse continues to grow. In fact, USCIS is now openly targeting speech by noncitizens with other immigration statuses, not just students.
    California’s higher education system is the largest in the nation and considered one of the best in the world, driving global economic mobility—and fueling California’s growth into the fourth largest economy in the world. These institutions serve as beacons of opportunity and economic potential that transform the lives of hundreds of thousands of students in providing a better life for themselves, their families, and future generations. However, this Administration’s attacks on institutions of higher education and international students, who add immense value to our universities, puts our nation’s economic future at risk.
    We urge your agencies to take immediate corrective action by suspending the Catch and Revoke initiative, restoring revoked visas, and providing full transparency to ensure that our immigration system is not misused to police speech at our colleges and universities and maintain beneficial international exchange at universities. We look forward to your prompt response.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Unlocking Albany’s Potential Through Revitalization

    Source: US State of New York

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    The comprehensive approach to the CAP Initiative also includes up to $150 million to transform cultural experiences in and around Albany’s Downtown, such as renovating the New York State Museum and upgrading the exhibits to be more inviting to Albany families and tourists alike. It also includes funding to invest in improvements at the Empire State Plaza to strengthen connections with the surrounding community and make the space a vibrant and inviting part of the fabric of downtown Albany.

    Additionally, Governor Hochul has committed up to $40 million to advance plans to reimagine I-787 which would include reconnecting Albany and surrounding communities and enhancing access to the Hudson River waterfront. This summer, the New York State Department of Transportation (NYSDOT) will release a Planning and Environment Linkages (PEL) study on potential ways to reimagine I-787, a travel corridor in the Capital Region that provides high speed access to the City of Albany and other communities along the river, including Green Island, Watervliet and Menands. Building upon the work completed under the PEL study, up to $40 million will be utilized by NYSDOT to begin an Environmental Impact Statement, which will lay the groundwork for a future project along the I-787 corridor. The environmental review will examine ways to enhance waterfront access along the Hudson River for all users of the road, connect neighborhoods and key destinations in communities along the corridor, and address the infrastructure of I-787, the South Mall Expressway, the Dunn Memorial Bridge, and additional infrastructure along the study area.

    Governor Hochul previously announced $19.5 million in State investments to improve public safety in Albany, which included a $1 million commitment to the City of Albany Police Department and $500,000 for the Albany County Sheriff’s Office. These investments reflect a record level of State funding for public safety in the City of Albany and Capital Region. These resources are delivered through a series of nation-leading programs supported by the Division of Criminal Justice Services (DCJS), including the Gun Involved Violence Elimination (GIVE) initiative, the Capital Region Crime Analysis Center, the SNUG Street Outreach and Social Work Program and Project RISE (Respond, Invest, Sustain and Empower). Working together, these efforts have helped reduce violence and improve community safety.

    Albany is not only our great state’s capital city, it’s also a place I call home. This investment isn’t just about dollars and cents, it’s about jobs, innovation and a brighter future for our community.

    Governor Kathy Hochul

    Informed by input from local stakeholders and the community, the CAP Initiative will unfold through a comprehensive public engagement process to identify key opportunities to promote business development, bolster public safety, encourage housing, attract visitors and enhance affordability.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Since Governor Hochul first proposed the Championing Albany’s Potential initiative in her State of the State, ESD has been working to establish the foundation upon which this historic investment in our Capital City will build. Working together, we will utilize this generational funding to support transformational projects that reflect the needs of those who live, work and visit the city, and encourage even more people to experience and explore Downtown Albany.”

    New York State Office of General Services Commissioner Jeanette Moy said, “The historic investment Governor Hochul is making through the Championing Albany’s Potential initiative will help revitalize our capital city. It will also strengthen the ties between state government and our neighbors living and working in the communities surrounding the Capitol and Empire State Plaza. CAP is a sustainable plan for long-term growth that will spur public-private partnerships, build a thriving city center, and create a vibrant downtown for residents and visitors alike.”

    New York State Homes & Community Renewal Commissioner RuthAnne Visnauskas said, “Albany deserves a downtown that is a place people want to visit, live, work, connect, and celebrate. It’s a place rich with history that has been wounded by planning decisions that negatively impacted entire neighborhoods. This $400 million investment will directly boost the city’s potential as an attractive destination by unwinding past mistakes and disinvestment. We’ve made strides recently in Governor Hochul’s administration, investing in upgrading affordable housing and reclaiming vacant land and buildings for development. Now, through CAP, there’s real momentum to rebuild, replan holistically with community involvement and revive our beautiful Capital City for those who live and work here now and for those who will enjoy its future.”

    New York State Department of Transportation Commissioner Marie Therese Dominguez said, “The Hudson River is one of the Capital Region’s greatest natural assets, and over the past few years the Department of Transportation has made key investments to reconnect residents and visitors with the waterfront, including projects like the Albany Skyway – a linear park; building the Empire State Trail and today, the Livingston Avenue Rail Bridge, which is currently in construction. The I-787 corridor is a vital piece in reimagining the City of Albany and its waterfront, which is why the Governor’s investment in the next stage of this project is so important. For a number of years now, the project team at NYSDOT has engaged with communities all along the Hudson River to gather ideas and feedback and most importantly, listen to local residents – the people who work and live here, on the future of this corridor. The funding for the next stage of this project – an Environmental Impact Statement – was included in this year’s budget and brings us one step closer to advancing from the ideation stage to the preliminary design and eventual construction phase, as we work to study the real potential this corridor offers for travel, recreation and tourism as well as economic growth throughout the Capital Region.”

    New York State Division of Criminal Justice Services Commissioner Rossana Rosado said, “Through Governor Hochul’s unparalleled leadership on public safety, cities across New York State are receiving record resources to ensure safer and stronger communities. These investments and initiatives – spanning evidence-based policing strategies, crime analysis center support, community violence interventions, and neighborhood empowerment programs – help keep New Yorkers safe, ensure a fair and effective justice system, and build opportunities for young people and families. Here in the Capital Region, DCJS is proud to support dozens of our law enforcement and community-based partners as they continue to drive down gun violence and crime.”

    State Senator Patricia Fahy said. “I’m incredibly proud that the core of our Capital Region and the 46th District, downtown Albany, will receive $400 million in transformative, once-in-a-generation funding. For years, I’ve engaged with our community to chart a new path forward for Albany that includes Reimagining I-787, making the State Museum a 21st Century destination-location, expanding the core of our Capital Region: downtown Albany, and so much more. That’s why I’m so proud this year’s budget includes $200 million for downtown revitalization, $150 million for upgrading the New York State Museum, $40 million for the next phase of the reimagining I-787 study, and $1 million for addressing public safety in our neighborhoods. Now, the hard work begins in earnest. I look forward to engaging our community, stakeholders, and residents as we move forward with this funding. Make no mistake: together, these initiatives will usher in a new day for the Capital Region, the impacts of which will be felt for years, if not generations to come—if we get it right. I want to thank my legislative colleagues and the Governor for recognizing the value of investing in our Capital City’s success, and for helping deliver this funding in this year’s state budget.”

    Assemblymember John T. McDonald III, RPh said “This historic funding is incredible news for the City of Albany and the entire Capital Region. The revitalization of the New York State Museum, the reimagining of I-787, much-needed improvements to the Empire State Plaza and other investments are transformative projects that will enhance connectivity, celebrate our history, and create new opportunities for residents and visitors alike. These efforts reflect years of advocacy and collaboration, and I thank Governor Hochul for her continued commitment to supporting the City of Albany and strengthening the Capital Region as a whole.”

    Assemblymember Gabriella A. Romero said, “These investments truly are an investment in Albany’s potential and in making it a city all New Yorkers can be proud to call our capital. Revitalizing downtown, strengthening small business, expanding affordable housing – these are all valuable steps to uplift Albany. I thank the Governor for her leadership in championing this historic investment and Championing Albany’s Potential.”

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    Albany County Executive Daniel P. McCoy said, “Governor Hochul’s Championing Albany’s Potential (CAP) Initiative has the potential to be transformational. It’s a historic commitment to the heart of Albany County that will bring new housing, new business, and new life into downtown. A reimagined Albany is exactly what we need, and I’m proud to stand with the governor in this effort.”

    Albany Mayor Kathy Sheehan said, “This $400 million investment is a testament to the hard work of the City of Albany over the last 12 years to be ready to write the next great chapter in the history of New York’s Capital City. The pandemic taught us that we need to reimagine our downtowns to get more feet on the street by creating more housing, supporting our small businesses, enhancing public safety, and attracting world-class amenities, and this transformative investment will do just that and more. To steal a phrase from President Biden, this is truly a ‘big effing deal.’ My sincere thanks and appreciation to Governor Hochul for seeing what we all see in the City of Albany: a city that’s full of pride and potential and ready to soar to even greater heights. I also want to thank Senator Fahy, Assemblymember Romero, and Assemblymember McDonald, as well as the entire State Legislature for making this critical investment in their home away from home.”

    Advance Albany County Alliance CEO Kevin O’Connor said, “The Advance Albany County Alliance thanks Governor Hochul for her thoughtful leadership and timely commitment to revitalizing New York’s Capital City. The City of Albany is not only the front door of state government, it is the heartbeat of Upstate New York’s fastest-growing county and the springboard for the local economy. The Governor’s disciplined approach through the CAP Initiative will ensure that state funding achieves the greatest possible positive impact. Through this partnership, we will supercharge our placemaking efforts, improve public spaces, secure a safe and welcoming downtown environment, and stimulate the central corridor of the Capital Region.”

    Capitalize Albany Corporation President Ashley Mohl said, “With Governor Hochul’s focus and support fueled by this historic more than $400 million investment, New York’s capital city stands on the brink of transformative growth. Our board and staff look forward to working with ESD and MIG alongside our many local and other state economic development partners to maximize this funding and seize this incredible opportunity. To build on the Governor’s CAP Initiative, Capitalize Albany is looking forward to advancing its planned solicitation for qualified development teams interested in acquisition and redevelopment of the Liberty Park site. Our RFP will engage the market directly with the aim to attract strong interest and a range of RFP responses. If you’re a developer or team with a project for the Liberty Park site, we welcome your response.”

    Downtown Albany BID Executive Director Georgette Steffens said, “In my 25 years of doing economic development in Downtown Albany, this is the largest investment we’ve ever seen. On behalf of nearly 200 property owners and over 120 restaurants and retail-related businesses, I want to express my profound gratitude to Governor Hochul and the Legislature for their commitment to Albany. We are already seeing the effects of the CAP initiative, with a renewed wave of investment interest in Downtown Albany beginning to percolate. The future of our city’s core is incredibly bright thanks to the Governor’s investment, and I look forward to working together to make Downtown a stronger and more vibrant place to live, work, and experience.”

    MIL OSI USA News –