Category: Economy

MIL-OSI: PDF Solutions to Report First Quarter Fiscal 2025 Financial Results on May 8, 2025

Source: GlobeNewswire (MIL-OSI)

SANTA CLARA, Calif., April 21, 2025 (GLOBE NEWSWIRE) — PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor ecosystem, announced that it will release First quarter fiscal 2025 financial results after the market close on Thursday, May 8, 2025. John Kibarian, CEO, and Adnan Raza, CFO, will host a live teleconference on Thursday, May 8, 2025, beginning at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the results.

To participate on the live call, analysts and investors should pre-register at: https://register-conf.media-server.com/register/BI6d53831ac55c4a1ab7f4514ab0ec41ca.

Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial-in into the call ten minutes ahead of scheduled time.

The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website.

About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit https://www.pdf.com/.

PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. or its subsidiaries.

Company Contacts

Adnan Raza
Chief Financial Officer
(408) 516-0237
adnan.raza@pdf.com

Sonia Segovia
Investor Relations
(408) 938-6491
sonia.segovia@pdf.com

The MIL Network –

April 22, 2025
MIL-OSI: XRP News: XenDex Announces Vision, Native Token Utility Framework, and Detailed Tokenomics
Source: GlobeNewswire (MIL-OSI)

SYDNEY, April 21, 2025 (GLOBE NEWSWIRE) — XenDex, a groundbreaking all-in-one decentralized exchange, is officially entering the Ripple blockchain with a bold mission: to create the first all-in-one decentralized finance hub built natively on the XRP Ledger (XRP). Leveraging AI Copy trading technology, non-custodial trading, and smart lending and borrowing protocols. XenDex is not just another DEX, it’s the infrastructure XRP has been missing.

Mission & Vision

XenDex’s mission is to enable global access to decentralized finance by delivering a secure, low cost, community-governed exchange that runs at the unmatched speed. The team behind Xendex is determined to develop the best and most unique decentralized exchange with multiple functionalities on the Ripple ecosystem.

Join XenDex Community On Telegram

The project envisions becoming XRP’s primary DeFi engine, combining next-gen trading tools, lending and borrowing functions, staking, cross-chain bridges, and full DAO governance — all within a scalable, high-speed ecosystem.

Introducing $XDX – The Utility Token of XenDex

At the heart of XenDex lies $XDX, a multi-utility token powering all activity across the platform. $XDX provides users with:
- Governance rights for on-chain voting and proposal submission
- Staking rewards for passive income and platform security
- Fee discounts for trading and borrowing activities
- Liquidity incentives through farming and AMM pools
- Access to launchpad sales, NFTs, and AI tools
- Airdrop eligibility for early adopters and long-term holders
$XDX Tokenomics
- Token Ticker: $XDX
- Total Supply: 1,000,000,000 tokens
- Presale Allocation: 300,000,000 (30%)
- Staking & Lending Reserve: 25%
- Team: 10% (with 6-month vesting)
- Locked Reserve: 10%
- Marketing & Partnerships: 5%
- Public Sale Allocation: 20%
XenDex isn’t just building a De-Fi, rather it’s engineering an ecosystem. With its sights set on long-term growth, sustainable community engagement, and cross-chain interoperability, the XenDex team has revealed a multi-phase roadmap that blends technical delivery, community building, and strategic expansion.

Visit XenDex Website & Join Telegram Community

The lead developer of the project stated that XenDex is committed to long-term growth with a few event coming soon, some of which include the $XDX token sale, major AMAs, airdrops, independent security audits, community games, DAO governance rollout, and listings on top exchanges including FirstLedger, MagneticX, Bitmart, followed by MEXC and Binance — all while continuously expanding features like lending, AI copy trading, and cross-chain integration.

XenDex’s beta version and smart contracts are currently undergoing development and comprehensive audits respectively, and the entire platform is designed to remain non-custodial and governed by its community via DAO voting.

Join the XenDex Revolution

Website: https://xendex.net
Telegram: https://t.me/XenDexCommunity
Twitter: https://x.com/XenDex_XRP

Contact:
Frank Richards
Frank@xendex.net

Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88c628f4-416e-471c-85a8-13e68afc5aa5

The MIL Network –
April 22, 2025
MIL-OSI United Kingdom: UK to step up military partnership with New Zealand as both countries drive forward defence and security agenda
Source: United Kingdom – Government Statements

Press release

UK to step up military partnership with New Zealand as both countries drive forward defence and security agenda

The UK is set to deepen defence and security ties with New Zealand as the Prime Minster strengthens alliances abroad to protect Britain’s national interest.
Prime Minister Keir Starmer and New Zealand Prime Minister Christopher Luxon set to step up support for Ukraine with new drone contract and extension to Operation Interflex

Comes as leaders agree to deepen defence and security ties, with the Royal New Zealand Navy preparing to join the UK’s Carrier Strike Group as it heads to the Indo-Pacific

Leaders also expected to discuss the importance of growth and free trade for economic and national security

The UK is set to deepen defence and security ties with New Zealand as the Prime Minster strengthens alliances abroad to protect Britain’s national interest.

Prime Minister Keir Starmer will host New Zealand Prime Minister Christopher Luxon this morning, with the leaders visiting the training of Ukrainian forces by the UK and New Zealand military as part of Operation Interflex. The visit follows the two leaders meeting at the Commonwealth Heads of Government Meeting in Samoa last year.

New Zealand trainers have worked alongside British counterparts to help train more than 54,000 soldiers on Operation Interflex, and New Zealand are expected to today confirm that they will extend their support for the initiative in the UK until the end of the year.

In addition to their support for training Ukrainian troops, military planners from the New Zealand Defence Force are contributing to the latest thinking and plans for post-conflict support for Ukraine through the Coalition of the Willing.

Prime Minister Starmer will also announce UK contracts worth £30m for drones produced by SYOS Aerospace, a New Zealand uncrewed vehicle manufacturer based in Hampshire to support Ukraine.

The contract has created 45 jobs at the manufacturing facility based in Fareham, Hampshire, and supports a further nine UK based companies with subcontracts – delivering on the government’s Plan for Change through both growth and security.

During the visit to see the training first hand, the leaders are expected to discuss plans to further step up defence and security cooperation, with defence ministers being instructed to work on a new joint defence partnership between both countries to ensure the relationship is fit for the twenty-first century.

The new arrangement, which will succeed the one signed in 2015, comes after both the UK and New Zealand increased defence spending to 2.5% and 2% of GDP respectively. It will also recognise the vital partnership between the UK and New Zealand in upholding stability and security across Europe, the Middle East and the Indo-Pacific.

That includes through the involvement of Royal New Zealand Navy frigate, HMNZS Te Kaha, which will join the UK Carrier Strike Group, which leaves Portsmouth today, in the Indian Ocean.

Prime Minister Keir Starmer said:

“Only by working with our friends and allies and protecting our national security will we be able to deliver on our Plan for Change, putting money back in the pockets of working people through highly skilled jobs – such as those we have announced today – a strong and resilient economy, and greater opportunity.

“From the beaches of Gallipoli, to the vital work we have been doing together on Operation Interflex and our support for Ukraine, the UK and New Zealand have stood shoulder-to-shoulder for generations in pursuit of peace and stability.

“As the world becomes an increasingly dangerous place, I am proud how much we are doing together to support our national and economic security – stepping up our defence spending, deploying our navies together in the Indo-Pacific, and continuing our work to put Ukraine in the strongest possible position to deter an increasingly aggressive Russia.”

Following the visit to Interflex training in the South West of England, the leaders will return to Downing Street to discuss how both countries can work together to drive growth, deliver on the government’s Plan for Change, and put money back in the pockets of working people.

That will include increasing ambition on free and open trade, including through the global Comprehensive and Progressive Trans-Pacific Partnership and New Zealand and the UK’s landmark Free Trade Agreement.

Total trade in goods and services between the UK and New Zealand was £3.6 billion in 12 months to September 2024 an increase of 5.3%, or £179 million in current prices, from 12 months leading up to September 2023.

It comes after Scottish firm Emergency One won a global competition to supply emergency vehicles to Fire and Emergency New Zealand (FENZ). Through the ten-year contract, East Ayrshire based Emergency One will replace 186 vehicles for New Zealand’s first responders, supporting 25 new jobs in Scotland.

The UK and New Zealand are also deepening collaboration in the agriculture technology sector. A new Investor Partnership deal will see New Zealand investment in British small and medium enterprises to develop cutting edge equipment supporting growth, farming sustainability and food security.

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Published 21 April 2025
MIL OSI United Kingdom –
April 22, 2025
MIL-OSI Security: Maryland Attorney Pleads Guilty to Not Paying Employment Taxes

Source: United States Attorneys General 1

A Maryland attorney pleaded guilty today for not paying employment taxes withheld from the employees of his law firm.

The following is according to court documents and statements made in court: James E. McCollum Jr. was an attorney licensed to practice law in Maryland and the District of Columbia. From 1998 to 2024, McCollum was the sole proprietor of a law firm based in College Park, Maryland, which he operated using a series of business names, including McCollum P.C.; McCollum & Associates LLC; and The McCollum Firm LLC. Nevertheless, McCollum was always the sole owner and operator of the business.

As such, McCollum exercised financial control over the firm, including hiring and supervising employees, operating the payroll, and maintaining signature authority over the business bank accounts. From at least 2000 onward, McCollum was responsible for withholding Social Security, Medicare, and federal income taxes from his employees’ wages and paying those funds over to the government each quarter. McCollum was also obligated to pay over the employer’s share of Social Security and Medicare taxes.

The timely payment of these taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

Over the last 24 years, McCollum, however, was frequently not compliant with his obligations to pay these taxes to the government or to file the necessary tax returns.

Beginning in 2010, the IRS attempted to collect the unpaid employment taxes, issuing numerous notices and levies to the law firm. When the IRS was unable to collect the outstanding taxes from the firm, it assessed them against McCollum personally and tried to collect them from him as well.

In 2020, instead of paying the taxes that were due, McCollum sought to thwart the IRS’s ongoing collection efforts by transferring his business and its employees to a new entity, The McCollum Firm. Yet, even after the transfer, McCollum continued to not file the requisite tax returns or pay the employment taxes over. McCollum acknowledged that from 2000 through 2024, he did not pay over at least approximately $2,174,992.83 in employment taxes.

McCollum also acknowledged that he did not file his own individual income tax returns and did not pay $220,515 in individual income taxes due for the tax years 2020 through 2022.

The court scheduled sentencing for Sept. 29. McCollum faces a maximum penalty of five years in prison for the failure to pay over employment taxes. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. McCollum also faces a period of supervised release, restitution, and monetary penalties.

Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

IRS Criminal Investigation is investigating the case.

Assistant Chief Jorge Almonte and Trial Attorney Mark McDonald of the Justice Department’s Tax Division are prosecuting the case.

MIL Security OSI –

April 22, 2025
MIL-OSI USA: News 04/21/2025 Blackburn, Tillis Introduce Bill to Prevent Chinese Communist Party from Exploiting Sister City Economic Partnerships for Radical Agenda

US Senate News:

Source: United States Senator Marsha Blackburn (R-Tenn)
NASHVILLE, Tenn. – U.S. Senators Marsha Blackburn (R-Tenn.) and Thom Tillis (R-N.C.) introduced the Sister City Transparency Act to identify the risks of foreign espionage, including by Communist China, within sister city partnerships that exist to promote cultural exchange and economic development:
“Communist China is exploiting sister city partnerships to achieve its own strategic objectives, and we need to make certain we are not enabling this activity in our own communities,” said Senator Blackburn. “This legislation would shine a bright light on these partnerships to keep our enemies from furthering their own dangerous agendas.”
“This commonsense bill is an important step towards protecting our security and economy by studying our sister city partnerships with cities across the world,” said Senator Tillis. “We must ensure sister city partnerships don’t expose us to harmful market practices, limit free speech, or support foreign interests that undermine our values.”

Click here to download a video of Senator Blackburn discussing her Sister City Transparency Act.
BACKGROUND
The United States maintains 1,800 sister city partnerships with countries worldwide, including 157 partnerships with Chinese communities. However, the Chinese Communist Party (CCP) has begun using these partnerships to achieve geostrategic objectives.
The CCP hides behind soft diplomacy and mutual benefit until its foreign partners exhibit political nonconformity. Thus, similar to Confucius Institutes, sister city partnerships may leave American communities vulnerable to foreign espionage and ideological coercion.
Little information currently exists regarding sister city partnerships operating within the U.S because such partnerships generally fail to publicize information regarding their agreements, activities, and employees. This impedes proper oversight and could enable malign activity.
SISTER CITY TRANSPARENCY ACT
The Sister City Transparency Act would create a Government Accountability Office report on sister city partnerships in the U.S. It would direct the Comptroller General to study partnerships involving foreigncommunities in countries with significant public sector corruption like Communist China and the Russian Federation. The study would:
Identify the oversight practices that U.S. communities implement to mitigate the risks of foreign espionage and economic coercion within sister city partnerships;
Assess the extent to which foreign communities could use sister city partnerships to conduct malign activities, including academic and industrial espionage; and
Review best practices to ensure transparency regarding sister city partnerships’ agreements, activities, and employees.

MIL OSI USA News –

April 22, 2025
MIL-OSI: VALUE LINE, INC. DIVIDEND HAS JUST BEEN RAISED FROM $1.20 TO $1.30 (ANNUALIZED) – ITS 11TH CONSECUTIVE INCREASE
Source: GlobeNewswire (MIL-OSI)

New York, April 21, 2025 (GLOBE NEWSWIRE) — Value Line, Inc. (NASDAQ – VALU) announced today that its Board of Directors has just raised its quarterly dividend, which will be $0.325 per common share ($1.30 annualized). The new higher cash dividend is payable on May 12, 2025 to stockholders of record on April 28, 2025. The increase of 8.3% is the 11^th consecutive yearly increase in Value Line’s dividend.

Value Line is a leading provider of investment research. The Value Line Investment Survey is one of the most widely used sources of independent equity research.

Value Line publishes proprietary investment research in separate print and digital formats.

Value Line provides these specialized services:
a. Value Line Select – Each month, Value Line analysts recommend the one exceptional stock with superior profit potential and a favorable risk/reward ratio.
b. The Value Line Special Situations Service – Each month, Value Line analysts recommend small and mid-cap stocks that hold the potential to transform your portfolio by delivering returns that are well above the market average.
c. Value Line Select ETFs – Each month, Value Line analysts sift through the myriad investment possibilities to identify the one exchange traded fund that appears best positioned to outperform the market.
d. Value Line Select: Dividend Income & Growth – Each month Value Line analysts make two stock recommendations that are expected to provide above-average current income along with appealing long-term dividend growth prospects.
e. The New Value Line ETFs Service – includes data, information, and analysis on more than 2,800 exchange-traded funds (ETFs), to help subscribers select the best fit for their portfolios.
f. The Value Line M&A Service – Value Line analysts highlight one company each month that is a candidate to be acquired by a larger entity at a material premium to the current stock price.
g. Value Line Information You Should Know wealth newsletter – Value Line focuses on financial planning and investment issues that matter for today’s investor.
h. The Value Line Climate Change Investing Service – Value Line analysts target a critical issue – climate change, which is expected to spur transformation in the global economy for decades to come
i. Certain Value Line copyrights distributed under agreements including proprietary ranking system information and other information used in 3^rd party products
j. The Value Line Options Survey – information and ranks on more than 600,000 options on stocks covering 90% of the market.
k. The Value Line Fund Adviser Plus – covers 20,000 funds, grouped into more than 30 Investment Objective Categories. Our proprietary Ranking System makes it simple to tell whether or not a particular fund is a worthwhile investment. Our approach helps to ensure that investors avoid funds with unsustainable short-term performance, and you can count on our Safety ™ rank to help manage your risk. Our professionally selected Model Portfolio names the best Exchange-Traded funds in eight key categories.
l. The Value Line Investment Survey–Small& Mid Cap – print and digital financial information and quantitative analysis on approximately 1,800 companies with market capitalizations of less than $10 billion.
m. The Value Line 600 – in-depth, independent print research on 600 large and prominent companies
n. The Value Line Investment Survey–Selection & Opinion – Value Line’s weekly economic and stock market commentary, four Model Portfolios, which are actively managed, updated each week, and always contain 20 equities each.
o. The Value Line Investment Survey–Smart Investor – a digital service providing investment research covering large, mid and small-cap stocks comprising about 90% of the total U.S. stock market
p. The Value Line Investment Survey–Small Cap Investor – digital financial information and quantitative analysis on approximately 1,800 companies with market capitalizations of less than $10 billion
q. The Value Line Investment Survey–Savvy Investor – a digital package covering more than 3,000 large, mid and small-cap stocks
r. The Value Line Investment Survey–Investor 900 – this digital service provides investment research on 600 of the largest cap stocks plus 300 small- and mid-cap stocks
s. The Value Line Investment Survey–Investor 600 – In-depth, independent digital research on 600 large and prominent companies
t. The Value Line Investment Survey–Investor 2400 – This digital service provides investment research for 600 of the largest cap stocks plus approximately 1,800 small and mid-cap stocks
u. The Value Line Investment Analyzer – This digital only service covers large, mid and small cap stocks comprising about 90% of the U.S. stock market
v. Value Line Investment Analyzer Plus – a digital service that provides complete stock analysis for approximately 6,000 equities
w. Value Line Research Center – A complete, online investment research system that includes all the financial information and tools needed to structure a well-researched and diversified portfolio for stocks, ETFs and mutual funds
x. Value Line Equity Research Center – A complete, online investment research system that includes all of Value Line’s equity research products needed to structure a well-researched and diversified portfolio for equities

Value Line’s products are available to individual investors by mail, at www.valueline.com or by calling 1-800-VALUELINE (1-800-825-8354).

Institutional services for professional investors, advisors, corporate, academic, and municipal libraries are offered at www.ValueLinePro.com, www.ValueLineLibrary.com and by calling 1-800-531-1425.

Cautionary Statement Regarding Forward-Looking Information
In this report, “Value Line,” “we,” “us,” “our” refers to Value Line, Inc. and “the Company” refers to Value Line and its subsidiaries unless the context otherwise requires.

This report contains statements that are predictive in nature, depend upon or refer to future events or conditions (including certain projections and business trends) accompanied by such phrases as “believe”, “estimate”, “expect”, “anticipate”, “will”, “intend” and other similar or negative expressions, that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. Actual results for Value Line, Inc. (“Value Line” or “the Company”) may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following:
- maintaining revenue from subscriptions for the Company’s digital and print published products;
- changes in investment trends and economic conditions, including global financial issues;
- changes in Federal Reserve policies affecting interest rates and liquidity along with resulting effects on equity markets;
- stability of the banking system, including the success of U.S. government policies and actions in regard to banks with liquidity or capital issues, along with the associated impact on equity markets;
- continuation of orderly markets for equities and corporate and governmental debt securities;
- problems protecting intellectual property rights in Company methods and trademarks;
- problems protecting confidential information including customer confidential or personal information that we may possess;
- dependence on non-voting revenues and non-voting profits interests in EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”), which serves as the investment advisor to the Value Line Funds and engages in related distribution, marketing and administrative services;
- fluctuations in EAM’s and third-party copyright assets under management due to broadly based changes in the values of equity and debt securities, market sector variations, redemptions by investors and other factors;
- possible changes in the valuation of EAM’s intangible assets from time to time;
- possible changes in future revenues or collection of receivables from significant customers;
- dependence on key executive and specialist personnel;
- risks associated with the outsourcing of certain functions, technical facilities, and operations, including in some instances outside the U.S.;
- risks of increased tariffs and other restrictions affecting the cost and availability of materials, equipment, and other necessary inputs to the Company’s operations;
- competition in the fields of publishing, copyright and investment management, along with associated effects on the level and structure of prices and fees, and the mix of services delivered;
- the impact of government regulation on the Company’s and EAM’s businesses;
- federal and/or state legislative changes that might affect Value Line’s business;
- the availability of free or low cost investment information through discount brokers or generally over the internet;
- the economic and other impacts of global political and military conflicts;
- continued availability of generally dependable energy supplies and transportation facilities in the geographic areas in which the company and certain suppliers operate;
- terrorist attacks, cyber attacks and natural disasters;
- the need for changes in our business plans because of unexpected events that occur;
- widespread illnesses which may drastically affect markets, employment, and other economic conditions, and may have additional unpredictable impacts on employees, suppliers, customers, and operations;
- changes in prices and availability of materials and other inputs and services, such as freight and postage, required by the Company;
- risk of inadequacy of our insurance coverage to compensate for potential losses;
- potential impact of vendors’ consolidation;
- other risks and uncertainties, including but not limited to the risks described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended April 30, 2024 and in Part II, Item 1A of the Quarterly Report on Form 10-Q for the period ended January 31, 2025; and other risks and uncertainties arising from time to time.
These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors which may involve external factors over which we may have no control could also have material adverse effects on future results. Likewise, changes we make in our plans, objectives, strategies, or intentions, which may occur at any time in our discretion, could also have material favorable or adverse effects on our future results. Except as otherwise required to be disclosed in periodic reports required to be filed by public companies with the SEC pursuant to the SEC’s rules, we have no duty to update these statements, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, current plans, anticipated actions, and future financial conditions and results may differ from those expressed in any forward-looking information contained herein.

Contact: Howard A. Brecher
Value Line, Inc.
212-907-1500

www.valueline.com
www.ValueLinePro.com, www.ValueLineLibrary.com
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Complimentary Value Line® Reports on Dow 30 Stocks

The MIL Network –
April 22, 2025
MIL-OSI USA: PRESS RELEASE: President Pro Tempore John F. Kennedy Applauds Signing of Comprehensive Tort Reform Legislation

Source: US State of Georgia

ATLANTA (April 21, 2025)—Today, Governor Brian P. Kemp officially signed Senate Bills 68 and 69 into law, marking a major step forward in Georgia’s ongoing effort to balance our civil justice system and protect Georgians from abusive litigation practices. President Pro Tempore John F. Kennedy (R–Macon) carried the bills in the Senate on behalf of Governor Kemp, who named tort reform his top legislative priority for the 2025 session.

SB 68 enacts sweeping reforms to Georgia’s tort laws, including changes to negligent security liability, apportionment of fault, and damages in civil cases. Designed to protect small businesses and consumers from the burden of frivolous lawsuits, SB 68 aims to create a fairer and more balanced civil justice environment that will benefit consumers and job creators alike.

“Our goal as legislators is to preserve the well-being of Georgians everywhere, including small businesses, health care providers and working families,” said Sen. Kennedy. “SB 68 cracks down on excessive and frivolous litigation to ensure that our legal system works for those who play by the rules, not those looking to exploit it. Curbing lawsuit abuse is strong step in the right direction. These reforms will bring stability to small businesses and job creators across our state.”

SB 69, the Georgia Courts Access and Consumer Protection Act, complements SB 68 by addressing the growing influence of Third-Party Litigation Financing (TPLF). The new law requires TPLF entities to register with the state, bans foreign-affiliated financiers from operating in Georgia, and opens registration records to the public for greater transparency and accountability.

“Alongside SB 68, SB 69 specifically cracks down on predatory litigation financers who seek to take advantage of unwary Georgia consumers,” said Sen. Kennedy. “This billion-dollar industry, often backed by foreign actors, has no place in our civil justice system. With this legislation, we are upholding the integrity of Georgia’s courts and strengthening consumer protections statewide. I am thankful for the support of Governor Kemp and my Senate colleagues as we worked this session to get these measures across the finish line.”

Together, Senate Bills 68 and 69 reinforce Georgia’s status as the No. 1 state for business by establishing a more predictable, transparent and fair legal environment. Both bills received strong support from stakeholders across Georgia’s business and legal communities and represent a critical victory in the ongoing effort to make the state’s economy more resilient and competitive.

For more information about Senate Bill 68, click here. For more information about Senate Bill 69, click here.

# # # #

Sen. John F. Kennedy serves as the President Pro Tempore of the Georgia State Senate. He represents the 18th Senate District, which includes Crawford, Monroe, Peach and Upson counties, as well as portions of Bibb and Houston counties. He may be reached at (404) 656-6578 or by email at John.Kennedy@senate.ga.gov.

For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

MIL OSI USA News –

April 22, 2025

MIL-OSI: TruGolf Reports 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

Salt Lake City, Utah, April 21, 2025 (GLOBE NEWSWIRE) — TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading provider of golf simulator software and hardware, announced today an overview of its 2024 results that were filed on Form 10-K on April 15, 2025. The Company reported record sales of $21.9 million, an increase of 6.2% percent as compared to 2023 sales. The gains were driven by continued enthusiastic market adoption of new hardware and software products launched earlier in 2024. Net losses narrowed by 14.5% to ($8.8) million for 2024, versus a net loss of ($10.3) million in 2023. Notably, 42% of the net loss for 2024 was due to non-cash expenses. EPS for the full year was ($0.76), a significant improvement from 2023’s ($857.35) loss per share.

Chief Executive Officer and Director Chris Jones said, “We are very pleased with our growing sales momentum for our upgraded and industry-leading golf simulators and software. Cost controls were effective and contributed to our greater cash generation in the second half of the year. We ended the year with $10.9 million in cash, and our debt went down. Interest in our franchise concept remains high and we anticipate announcing contracts for additional franchises in the United States throughout 2025. We now expect the first franchise locations to open by the end of the second quarter, with associated delivery of TruGolf simulators in the first half of 2025.”

Mr. Jones continued, “2024 saw the rollout of our new, industry-leading golf simulator products that were eagerly accepted by the market. While 2024’s sales growth was somewhat hindered by select product availability, we expect to continue setting the standard in the world of virtual golf with further hardware and software innovations arriving in 2025.”

Operations:

Gross margin for 2024 improved to 66.7% as compared to 61.9% in 2023. 2024’s loss from operations was 75% lower at ($2.1) million as compared to ($8.7) million in 2023. 2024 operating expenses declined by 22% or $4.7 million. These improvements were driven by implementing better cost controls, reducing discretionary spending and achieving greater productivity through enhanced operational efficiencies.

2024 SG&A expenses declined by 40%, or $4.4 million, in 2024 as compared to 2023. Non-cash stock compensation expense for the year was $658,000. Cash flow used in operations was $4.0 million in 2024, versus $6.1 million in 2023, an improvement of over 35%. TruGolf ended 2024 with $10.9 million in cash on the balance sheet.

As previously disclosed, on October 2, 2024, the Company received a delist determination letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) related to its failure to maintain stockholders’ equity for continued listing. The Company has requested a hearing to appeal the delist determination, which has been scheduled for May 15, 2025.

Disclaimer on Forward Looking Statements

This news release contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute “forward-looking statements” and accordingly, involve estimates, assumptions, forecasts, judgements and uncertainties. Forward-looking statements include, without limitation, the timing of new franchise openings during 2025. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC’s website, www.sec.gov

About TruGolf:

Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf’s mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology – because TruGolf believes Golf is for Everyone. TruGolf’s team has built award-winning video games (“Links”), innovative hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. Since TruGolf’s beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology.

Contact: Michael Bacal
mbacal@darrowir.com
917-886-9071

TRUGOLF HOLDINGS, INC
CONSOLIDATED BALANCE SHEETS

	December 31,			December 31,
	2024			2023

ASSETS

Current Assets:
Cash and cash equivalents	$	10,882,077		$	3,297,564
Restricted cash		–			2,100,000
Marketable investment securities		–			2,478,953
Accounts receivable, net		1,399,153			2,398,872
Inventory, net		2,349,345			2,119,084
Prepaid expenses and other current assets		116,619			262,133
Other current assets		45,737			–
Total Current Assets		14,792,930			12,656,606

Property and equipment, net		143,852			234,308
Capitalized software development costs, net		1,540,121			–
Right-of-use assets		634,269			972,663
Other long-term assets		31,023			1,905,983

Total Assets	$	17,142,195		$	15,769,560

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current Liabilities:
Accounts payable	$	2,819,702		$	2,059,771
Deferred revenue		3,113,010			1,704,224
Notes payable, current portion		10,001			9,425
Notes payable to related parties, current portion		2,937,000			1,237,000
Line of credit, bank		802,738			802,738
Margin line of credit account		–			1,980,937
Convertible notes payable		–			954,622
Dividend notes payable		4,023,923			–
Derivative liability		–			–
Accrued interest		661,376			459,872
Accrued and other current liabilities		999,307			1,125,495
Accrued and other current liabilities – assumed in Merger		45,008			–
Lease liability, current portion		363,102			334,255
Total Current Liabilities		15,775,167			10,668,339

Non-current Liabilities:
Notes payable, net of current portion		9,732			2,402,783
Note payables to related parties, net of current portion		624,000			861,000
PIPE loan payable, net		4,068,953			–
Dividend notes payable		–			4,023,923
Gross sales royalty payable		1,000,000			1,000,000
Lease liability, net of current portion		305,125			668,228
Other liabilities		–			63,015

Total Liabilities		21,782,977			19,687,288

Commitments and Contingencies

Stockholders’ Deficit:
Preferred stock, $0.0001 par value, 10 million shares authorized; zero shares issued and outstanding, respectively		–			–
Common stock, $0.0001 par value, 100,000,000 shares authorized:
Common stock – Series A, $0.0001 par value, 90 million shares authorized; 26,120,545 and 13,098 shares issued and outstanding, respectively		2,612			120
Common stock – Series B, $0.0001 par value, 10 million shares authorized; 1,716,860 and 1,716,860 shares issued and outstanding, respectively		172			–
Treasury stock at cost, 4,692 shares of common stock held, respectively		(2,037,000	)		(2,037,000	)
Additional paid-in capital		18,548,931			10,479,738
Accumulated other comprehensive loss		–			(1,662	)
Accumulated deficit		(21,155,497	)		(12,358,924	)
		(4,640,782	)		(3,917,728	)

Total Stockholders’ Deficit		(4,640,782	)		(3,917,728	)

Total Liabilities and Stockholders’ Deficit	$	17,142,195		$	15,769,560

TRUGOLF HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the			For the
	Year Ended			Year Ended
	December 31, 2024			December 31, 2023

Revenue, net	$	21,858,864		$	20,583,851
Cost of revenue		7,271,512			7,825,768
Total gross profit		14,587,352			12,758,083

Operating expenses:
Royalties		706,214			709,640
Salaries, wages and benefits		9,314,415			9,681,323
Selling, general and administrative		6,669,684			11,027,332
Total operating expenses		16,690,313			21,418,295

Loss from operations		(2,102,962	)		(8,660,212	)

Other (expenses) income:
Interest income		106,400			108,011
Interest expense		(6,932,618	)		(1,730,908	)
Gain on fair value adjustment		142,319			–
Loss on extinguishment of debt		(270,594	)		–
Gain on investment		262,035			–
Total other expense		(6,692,458	)		(1,622,897	)

Loss from operations before provision for income taxes		(8,795,420	)		(10,283,109	)

Provision for income taxes		–			–
Net loss	$	(8,795,420	)	$	(10,283,109	)

Net loss per common share Series A – basic and diluted	$	(0.76	)	$	(857.35	)

Weighted average shares outstanding Series A – basic and diluted		11,634,761			11,994

TRUGOLF HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the			For the
	Year Ended			Year Ended
	December 31, 2024			December 31, 2023

Cash flows from operating activities:
Net loss	$	(8,795,420	)	$	(10,283,109	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		607,415			58,641
Amortization of convertible notes original issue discount		728,278			97,111
Amortization of right-of-use asset		338,394			298,208
Change in fair value of derivative liability		142,319
Fair value of warrants in excess of fair value of debt		–			93,530
Bad debt expense		767,913			681,479
Change in OCI		1,662			–
Stock issued for services		119,959			5,872,529
Stock issued for make good provisions on debt conversion		700,821			–
Stock options issued to employees		538,323			–
Changes in operating assets and liabilities:
Marketable investment securities		–			12,530
Accounts receivable, net		231,806			(1,335,714	)
Inventory, net		(230,261	)		2,396
Prepaid expenses		145,514			(114,385	)
Capitalized software, net		(2,070,742	)		–
Other current assets		(45,737	)		17,840
Other assets		13,662			(1,905,983	)
Accounts payable		494,215			596,434
Deferred revenue		1,408,786			(1,008,296	)
Accrued interest payable		201,504			615,582
Accrued and other current liabilities		(634,557	)		374,819
Other liabilities		(63,015	)		63,015
Lease liability		(334,256	)		(269,848	)
Net cash used in operating activities		(5,733,416	)		(6,133,221	)

Cash flows from investing activities:
Purchases of property and equipment		–			(127,413	)
Purchase of short-term investments		–			(2,493,145	)
Sale of short-term investments		2,478,953			–

Net cash provided by (used in) investing activities		2,478,953			(2,620,558	)

Cash flows from financing activities:
Proceeds from PIPE loans, net of discount		8,902,681			–
Proceeds from loan payable – related party		2,000,000			–
Proceeds from investment fund (PIPE)		2,112,560			–
Cash acquired in Merger		103,818			–
Debt refinance conversion		192,787			–
Proceeds from line of credit		–			1,980,937
Proceeds from notes payable		–			2,433,059
Proceeds from convertible notes		–			185,500
Costs of Merger paid from PIPE loan		(1,947,787	)		–
Repayments of line of credit		(1,980,937	)		–
Repayments of loans assumed in Merger		(100,000	)		–
Repayments of notes payable		(9,146	)		(107,569	)
Repayments of notes payable – related party		(535,000	)		(37,000	)
Dividends paid		–			40,150

Net cash provided by financing activities		8,738,976			4,495,077

Net change in cash , cash equivalents and restricted cash		5,484,513			(4,258,702	)

Cash, cash equivalents and restricted cash – beginning of year		5,397,564			9,656,266

Cash and cash equivalents – end of year	$	10,882,077		$	5,397,564

Supplemental cash flow information:
Cash paid for:
Interest	$	923,975		$	1,115,332
Income taxes	$	–		$	–
Non-cash investing and financing activities:
Derivative liability related to warrants	$	142,319		$	–
PIPE note principal converted to Class A Common Stock	$	5,832,600		$	–
Convertible notes exchanged for PIPE note	$	2,419,622		$	–
Class A Common Stock exchanged in Merger	$	3,854,573		$	–
Class A Common Stock issued in Merger	$	1,154		$	–
Class B Common Stock issued in Merger	$	172		$	–
Termination of loan payable	$	1,875,000		$	–
Conversion of dividend note payable and accrued interest	$	–		$	3,925,273
Conversion of note payable to line of credit	$	–		$	257,113
Warehouse lease	$	–		$	537,994

The MIL Network –

April 22, 2025

MIL-OSI: USCB Financial Holdings, Inc. Declares Quarterly Cash Dividend on Common Stock

Source: GlobeNewswire (MIL-OSI)

MIAMI, April 21, 2025 (GLOBE NEWSWIRE) — USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB), the holding company for U.S. Century Bank, announced today that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share of Class A common stock, payable on June 5, 2025, to shareholders of record as of the close of business on May 15, 2025. Future dividend payments are subject to quarterly review and approval by the Board of Directors.

About USCB Financial Holdings, Inc.
USCB Financial Holdings, Inc. is the bank holding company for U.S. Century Bank. Established in 2002, U.S. Century Bank is one of the largest community banks headquartered in Miami, and one of the largest community banks in the State of Florida. U.S. Century Bank is rated 5-Stars by BauerFinancial, the nation’s leading independent bank rating firm. U.S. Century Bank offers customers a wide range of financial products and services and supports numerous community organizations, including the Greater Miami Chamber of Commerce, the South Florida Hispanic Chamber of Commerce, and ChamberSouth. For more information or to find a U.S. Century Bank banking center near you, please call (305) 715-5200 or visit www.uscentury.com.

Contacts:

Investor Relations
InvestorRelations@uscentury.com
Martha Guerra-Kattou
(305) 715-5141
MGuerra@uscentury.com

The MIL Network –

April 22, 2025
MIL-OSI: Weatherford and AIQ Sign Strategic Partnership to Accelerate Efficiency in Energy Production
Source: GlobeNewswire (MIL-OSI)

HOUSTON, April 21, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has signed a strategic Memorandum of Understanding (MOU) with AIQ, the Abu Dhabi-based artificial intelligence (AI) champion developing innovative solutions for the energy sector. This partnership is set to bring transformative efficiency to energy production, leveraging advanced automation, data-driven insights, and the power of AI technology.

The collaboration aims to integrate Weatherford’s world-class software and hardware solutions, including the Modern Edge suite, Unified Data Model, and WFRD Software Launchpad, with AIQ’s robust AI-driven systems. By combining these advanced tools, Weatherford and AIQ will enable operators to optimize their production workflows, reduce downtime, and significantly enhance operational efficiency across global oil and gas facilities.

Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are excited to partner with AIQ to bring innovative, AI-driven solutions to the oil and gas industry. This strategic partnership allows us to deliver cutting-edge technologies that empower our customers to maximize their operational efficiency, enhance automation, and reduce costs. By combining our strengths, we are leading the way in helping operators modernize their workflows and achieve greater success in today’s rapidly evolving energy landscape.”

Magzhan Kenesbai, Acting Managing Director of AIQ, said, “This partnership marks another step in AIQ’s mission to build partnerships that accelerate the deployment of impactful AI systems across the energy value chain. By integrating our advanced AI-driven tools with Weatherford’s energy-specific technology, we are driving greater efficiencies to the industry through the development of scalable, automated applications. Together, we are set to empower operators to optimize their workflows, reduce downtime, and achieve unparalleled operational excellence.”

Key Highlights of the Strategic Partnership:
1. Modern Edge Integration: The partnership will combine AIQ’s AI technology with Weatherford’s Modern Edge, providing operators with the ability to scale their work processes efficiently while ensuring an economic return. This integration will empower customers to modernize their edge operations, facilitate autonomous production, and offer the flexibility to expand operations, all while optimizing resource usage and reducing costs.
2. Unified Data Model: Weatherford’s Universal Normalizer will work in tandem with AIQ’s capabilities to harmonize multi-asset data, combining operational and financial analysis into a unified, API-supported data model. This will drive smarter decision-making and streamline operations across facilities.
3. WFRD Software Launchpad: Through the WFRD Software Launchpad, customers will gain the ability to procure all of their software needs via a comprehensive industrial SaaS platform. This eliminates the complexity of managing multiple systems and vendors, providing a single point of access for all Weatherford and partner-built applications, while ensuring data security and autonomy within their own network.
By combining their strengths, Weatherford and AIQ will enable the energy sector to unlock unprecedented efficiencies, boost productivity, and reduce operational costs. This partnership is a significant step forward in Weatherford’s commitment to delivering cutting-edge solutions that empower operators to succeed in an increasingly competitive and data-driven industry.

About Weatherford

Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

Contacts
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Senior Director, Communications & Employee Engagement
media@weatherford.com

About AIQ

AIQ is an innovative global technology pioneer based in Abu Dhabi, dedicated to accelerating AI-driven advancements within the Energy sector, propelling it towards a sustainable future. AIQ solutions improve performance and efficiency; protect personnel, assets, and operations; and enable customers to meet their sustainability goals. As a committed contributor to realizing the UAE’s ambition to lead the world in AI by 2031, AIQ is playing a pivotal role in the AI ecosystem of Abu Dhabi, the UAE, and the global Energy sector. To find out more, visit: aiqintelligence.ae/

For media enquiries, please contact: aiq.communications@aiqintelligence.ai

The MIL Network –
April 22, 2025
MIL-OSI: P10 Announces Appointments of Jennifer Glassman and Stephen Blewitt to Board of Directors

Source: GlobeNewswire (MIL-OSI)

DALLAS, April 21, 2025 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX), (“P10” or the “Company”), a leading private markets solutions provider, today announced the appointment of Jennifer Glassman and Stephen Blewitt to its Board of Directors (“the Board”). Ms. Glassman will join the Board as an independent Class I director, effective April 21, 2025, and will serve on the Company’s Audit Committee. Mr. Blewitt will join the Board as an independent Class III director, effective April 21, 2025, and will serve on the Company’s Compensation Committee.

“We are thrilled to welcome these two investment industry veterans to the P10 Board,” said Luke Sarsfield, P10 Chairman and Chief Executive Officer. “Jennifer and Stephen have proven track records within the alternative asset management sector that will immediately strengthen our board. This board refreshment further enhances our governance profile as we seek to create long-term value for our investment strategies and shareholders.”

Ms. Glassman is a seasoned financial services leader and currently serves as the Chief Financial Officer of Towerbrook Capital Partners. Ms. Glassman was previously a partner and CFO at Soros Private Equity, and she also served in a variety of financial control and reporting roles for Soros Fund Management LLC. Prior to joining Soros, Ms. Glassman was a senior manager at PricewaterhouseCoopers, LLP, where she worked in the Financial Services Business Assurance practice for over seven years. Ms. Glassman is a certified public accountant and earned her B.S. from the Wharton School of the University of Pennsylvania and received her M.B.A. from Columbia Business School.

Mr. Blewitt is the co-founder of Youth.Work.Connect, a mission-based organization, founded in 2024. It was created to help high school youth from underserved communities build social capital to promote economic mobility. Previously, Mr. Blewitt served as the Chief Investment Officer (Private Markets) and Head of Private Markets at Manulife Investment Management from October 2018 to June 2023, where he was responsible for leading global investment teams across a wide range of asset classes, including private equity and credit, real estate, infrastructure, timber, and agriculture. Prior to that, Mr. Blewitt led Manulife’s private equity and credit business in the U.S. for almost 20 years. Mr. Blewitt earned his B.A. from the University of Chicago and received his M.B.A. from Boston University.

About P10
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

P10 Investor Contact:
info@p10alts.com

P10 Media Contact:
Josh Clarkson
Taylor Donahue
pro-p10@prosek.com

The MIL Network –

April 22, 2025
MIL-Evening Report: Is a corporation a slave? Many philosophers think so

Source: The Conversation (Au and NZ) – By Duncan Ian Wallace, Lecturer, Faculty of Law, Monash University

f11photo/Shutterstock

If you’ve ever heard the term “wage slave”, you’ll know many modern workers – perhaps even you – sometimes feel enslaved to the organisation at which they work.

But here’s a different way of thinking about it: for-profit business corporations are themselves slaves.

Corporations such as Microsoft, Google and Tesla are what the law describes as “legal persons”, with many of the same rights and duties in law as individual persons have.

One right that they do not share with individuals, however, is the right not to be owned as property – the right not to be enslaved.

For though Microsoft, Google and Tesla are persons in law, they are also owned by their shareholders as property. And as legal persons that are owned as property, I argue, such corporations are slaves.

Wait, what?

As someone who’s spent years researching the history and philosophy of corporate legal personhood, I’ve done a lot of thinking about the corporation as a kind of organism, or person.

I have come to the belief that corporations are persons not only in law, but are persons also in reality. Their legal personalities are only the recognition of real, underlying, group personalities.

I am far from the only person to believe in the reality of corporate personality.

Philosophers Christian List and Philip Pettit, for example, advance the idea in their influential 2011 book, Group Agency.

In the book, List and Pettit argue that an appropriately organised social group, such as a corporation, has attitudes independent of the attitudes of the group’s individual members.

More than the sum of its parts

Such a group is more than the sum of its parts. It has its own personality, which emerges from the coordinated action of its individual members. This personality can survive changes in membership.

This shows, List and Pettit claim, such groups have “minds of their own”. They possess a sophisticated psychology enabling them to reflect on their choices and actions, make judgements on the basis of evidence and understand concepts such as right and wrong, or life and death.

In short, appropriately organised social groups really are capable of being understood as persons – “group persons”. They exist, alongside individual persons, as a normal part of human society.

And these group persons are capable of being owned as property. Consider for-profit corporations. They are traded on markets as commodities; are bought, sold and exploited; and are forced to maximise profits in the interests of their owners – their shareholders.

They are persons owned as property. They are, in other words, in the condition of slavery.

Look at Roman slave law

The idea that group persons can be slaves is an old idea. With respect to the for-profit corporation, however, it is generally rejected by modern corporate law scholars.

They argue that because corporations are persons in law, this demonstrates such entities cannot be owned.

They also point out that shareholders have limited liability for the debts of their corporations. This shows, they say, that shareholders cannot be thought of as true owners.

Such objections can be met, however, by examining the slave laws of societies where slavery was legal.

Under Roman law, for instance, slaves – though the personal property of their masters – were clearly recognised as persons in law. They were able to own property, could contract, go into debt, be held responsible for wrongs, and sue others for wrongs committed against them.

Indeed, it was common for such slaves to run businesses of their own (though ultimately for the financial benefit of the master).

And when slaves ran such businesses, their masters had limited liability for the debts of their slaves – just as shareholders have limited liability for the debts of their for-profit corporations today.

Roman slave law is no exception in these respects. The same can be found under the slave laws of Ancient Greece, medieval Islam, and in those of the 19th century American South.

An Ancient Roman mosaic from Tunisia, showing slaves pouring drinks at a banquet.
Dennis G. Jarvis, CC BY-SA

4 reasons this matters

Identifying for-profit corporations as slaves matters for four reasons.

First, it highlights potential moral problems with owning corporations. When we have shares in the ownership of for-profit corporations, we are participating as masters in a system of slavery.

Second, the ability to own for-profit corporations as “slaves” is a major driver of inequality. The richest people in the world have all made their money from owning corporations, and their ability to amass such wealth would be unimaginable otherwise.

The third reason identifying for-profit corporations as slaves matters is because it provides an explanation for why corporations maximise profits in the interests of shareholders. It is because shareholders own them, and force this behaviour upon them.

Fourth, identifying corporations as slaves offers a solution to the problem of corporate profit-maximising behaviour (a behaviour causing great social and environmental harm): getting rid of shareholders.

Consider, for example, worker cooperatives like Mondragon Corporation in Spain and the John Lewis Partnership in the United Kingdom.

They are share-less corporations. They are unowned. They are corporations free from enslavement.

The effect is that they do not maximise profits. Instead, they value the wellbeing of their workers.

Duncan Ian Wallace does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Is a corporation a slave? Many philosophers think so – https://theconversation.com/is-a-corporation-a-slave-many-philosophers-think-so-253226

MIL OSI Analysis – EveningReport.nz –

April 22, 2025
MIL-Evening Report: Fossil fuel companies ‘poisoned the well’ of public debate with climate disinformation. Here’s how Australia can break free

Source: The Conversation (Au and NZ) – By Naomi Oreskes, Professor of the History of Science, Harvard University

President Donald Trump has issued an executive order that would block state laws seeking to tackle greenhouse gas emissions – the latest salvo in his administration’s campaign to roll back United States’ climate action.

Under Trump, the US has clearly abdicated climate leadership. But the US has in fact obstructed climate action for decades – largely due to damaging actions by the powerful fossil fuel industry.

In 20 years studying attacks on climate science and the powerful forces at work behind the scenes, I’ve come to think the United States is simply not going to lead on climate action. The fossil fuel industry has so poisoned the well of public debate in the US that it’s unlikely the nation will lead on the issue in our lifetimes.

Australia, on the other hand, has enormous potential.

I recently visited Australia from Harvard University for a series of public talks. This nation is very close to my heart. I trained as a mining geologist and spent three years in outback South Australia, before returning to academia.

The vacuum Trump has created on climate policy provides a chance for other countries to lead. Australia has much more to gain from the clean-energy future than it stands to lose – and your climate action could be pivotal.

The climate crisis: a long time coming

Scientists first warned against burning fossil fuels way back in the 1950s. When the US Clean Air Act was passed in 1970, the words “weather” and “climate” were included because scientists had already explained to Congress that carbon dioxide was a pollutant with serious — even dire — effects.

In the late 1980s, scientists at NASA observed changes in the climate system that could only be explained by the extra heating effect of atmospheric carbon dioxide. The predictions had become reality.

When George H.W. Bush ran successfully for president in 1988, he promised to use the power of the “White House effect” to fight the “greenhouse effect”. In 1992, Bush and other world leaders gathered in Rio de Janeiro, Brazil, to sign the United Nations Framework Convention on Climate Change. Together, 178 countries promised action to prevent “dangerous anthropogenic interference” with Earth’s climate. But that action never came.

Trump has undoubtedly been bad news for global climate action. He makes preposterous claims about science and is dismantling the federal agencies responsible for supporting climate science and maintaining climate data.

But the US has long failed to play its part in cutting dangerous greenhouse gas emissions. The reason for this lies largely outside the White House.

If only George H.W. Bush had used the White House effect to counter the greenhouse effect, as he once promised to.
mark reinstein, Shutterstock

A long-running campaign of disinformation

The fossil fuel industry has known about climate change for as long as scientists have.

In the late 1970s and early 1980s, scientists at Esso (later ExxonMobil) actively researched the topic, building climate models and coauthoring scientific papers.

The scientists informed their managers of the risk of catastrophic damage if the burning of oil, gas and coal continued unabated. They even suggested the company might need a different business model – one not so dependent on fossil fuels.

But managers at ExxonMobil made a fateful decision: to turn from information to disinformation. Working in tandem with other oil, gas and coal companies, as well as automobile and aluminium manufacturers, ExxonMobil launched an organised campaign, sustained over decades, to block climate action by casting doubt on the underlying science.

They ran ad campaigns in national and local newspapers insisting the science was too unsettled to warrant action. They created “astroturf” organisations that only pretended to be green, and funded “third-party allies” to argue that proposed remedies would be too expensive, cost jobs and damage the economy.

The company funded outlier scientists to publish papers claiming atmospheric warming was the result of natural climate variability. They pressured journalists to give equal time to “their side” of the story in the name of “balance”.

Over the next three decades, whenever any meaningful climate policy seemed to be gaining traction, the industry and its allies lobbied Congress and state legislatures to block it. So, neither Democratic nor Republican administrations were able to undertake meaningful climate action.

While people were dying in climate-charged floods and fires, the fossil fuel industry persuaded a significant proportion of the US population, including Trump, that the whole thing might just be a hoax.

Rise up Australia

In a matter of weeks after becoming president, Trump pulled out of the Paris Agreement to limit global warming, shut down government websites hosting climate data, and withdrew support for research that dares to mention the word “climate”.

This has created a vacuum that other countries, including Australia, can step up to fill.

Few countries have more to lose from climate change than Australia. The continent has already witnessed costly and devastating wildfires and floods — affecting remote areas and major cities. It’s not unreasonable to worry that in coming years, significant parts of Australia could become uninhabitable.

Like the US, Australia has a powerful fossil fuel industry that has disproportionately influenced its politics. Unlike the US, however, that industry is based mainly on coal for export, which Australians do not depend on in their daily lives.

And Australia is truly a lucky country. It has unsurpassed potential to replace fossil fuels with renewable energy.

More than 15 years ago, Australian researchers in the Zero Carbon Australia project offered a blueprint for how the country could eliminate fossil fuel use entirely. Since then, renewable energy has only become cheaper and more efficient.

South Australia has proved the point: the state was 100% reliant on fossil fuels for electricity in 2002, but now more than 70% comes from renewables.

Across Australia, the share of renewable electricity generation is growing. Victoria, New South Wales and Queensland are vying for second place after SA. It’s fascinating to watch the National Electricity Market balance supply and demand in real time, where a large proportion of the electricity comes from rooftop solar.

For decades, the fossil fuel industry has told the public our societies can’t manage without fossil fuels. Large parts of Australia have proved it’s just not so. The rest of the nation can follow that lead, and model the energy transition for the world. Here’s your chance.

Over the past two decades, Naomi Oreskes has received grant funding from various governments and non-government organisations to support the research upon which this piece is based. She serves on the board of The Climate Science Legal Defense Fund, which works to protect the integrity of climate science, and climate scientists, from politically motivated attacks. The Fund is a registered 501 c(3) non-profit organisation, meaning it does not engage in political activities. She is also an emerita board member of Protect our Winters, a 501 c (3) that works with the winter sports community to educate people about climate change and the threat it poses to winter sports. Naomi serves on the board of the Kann-Rasmussen foundation (Denmark), a non-profit foundation that works “to support the transition to a more environmentally resilient stable, and sustainable planet”.
Naomi currently serves as a consultant to a number of groups pursuing climate litigation in the United States, and recently submitted an expert report to the International Court of Justice on behalf of Vanuatu. She also receives speaking fees and book royalties for talks and publications on the history of climate science and climate change denial. Co-author, with Erik M. Conway, of Merchants of Doubt (2010) and The Big Myth (2023).

– ref. Fossil fuel companies ‘poisoned the well’ of public debate with climate disinformation. Here’s how Australia can break free – https://theconversation.com/fossil-fuel-companies-poisoned-the-well-of-public-debate-with-climate-disinformation-heres-how-australia-can-break-free-251221

MIL OSI Analysis – EveningReport.nz –

April 22, 2025
MIL-OSI: ESCO Technologies Announces Second Quarter 2025 Earnings Release and Conference Call

Source: GlobeNewswire (MIL-OSI)

St. Louis, April 21, 2025 (GLOBE NEWSWIRE) — ESCO Technologies Inc. (NYSE:ESE) will report its second quarter financial results after the market close on Wednesday, May 7, 2025, followed by a conference call where the financial results and related commentary will be discussed.

Event: Second Quarter 2025 Conference Call
Date:        Wednesday, May 7
Time:        4:00 p.m. Central Time

The conference call webcast and an accompanying slide presentation will be available in the Investor Center of ESCO’s website. The slide presentation will be utilized during the call and will be posted on the website prior to the call. Participants may also access the webcast using this registration link.

For those unable to participate, a webcast replay will be available after the call in the Investor Center of ESCO’s website.

ESCO is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products for the aviation, Navy, space, and process markets worldwide and composite-based products and solutions for Navy, defense, and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement products and systems; and provides diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries. Headquartered in St. Louis, Missouri, ESCO and its subsidiaries have offices and manufacturing facilities worldwide. For more information on ESCO and its subsidiaries, visit the Company’s website at www.escotechnologies.com.

SOURCE ESCO Technologies Inc.
Kate Lowrey, Vice President of Investor Relations, (314) 213-7277

The MIL Network –

April 22, 2025
MIL-OSI: Everbright Digital Holding Limited Announces Closing of Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

HONG KONG, April 21, 2025 (GLOBE NEWSWIRE) — Everbright Digital Holding Limited (the “Company” or “Everbright”), an integrated marketing solutions provider headquartered in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares, par value US$0.00004 per share (the “Ordinary Shares”), at a public offering price of US$4.00 per ordinary share. The Ordinary Shares began trading on the Nasdaq Capital Market on April 17, 2025, under the ticker symbol “EDHL.”

The Company received aggregate gross proceeds of US$6.0 million from the sale of Ordinary Shares offered by the Company in the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 ordinary shares at the public offering price, less underwriting discounts.

Net proceeds from the Offering will be used by the Company for marketing and business expansion, continued research and development of our core technologies, business development overseas, talent acquisition and training, as well as for general working capital and corporate purposes.

The Offering was conducted on a firm commitment basis. Dominari Securities LLC acted as the lead underwriter and Revere Securities LLC acted as co-underwriter for the Offering. Pacific Century Securities, LLC acted as an advisor to the Company. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the underwriters.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-285191), as amended, and was declared effective by the SEC on March 31, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by calling (212) 393-4500. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Everbright Digital Holding Limited

Everbright Digital Holding Limited is an integrated marketing solutions provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Hong Kong United Metaverse Limited. The Company is an integrated marketing solutions provider in Hong Kong that is deeply involved in the metaverse and related technologies, providing one-stop digital marketing services to support businesses through every stage of their development, including metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation and social media marketing.

For more information, please visit the Company’s website: https://umeta.hk/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

Everbright Digital Holding Limited
Leung Chun Yip, CEO
Email: michael@umeta.hk

The MIL Network –

April 22, 2025
MIL-Evening Report: Since its very conception, Star Wars has been political. Now Andor will take on Trump 2.0

Source: The Conversation (Au and NZ) – By Dan Golding, Professor and Chair of the Department of Media and Communication, Swinburne University of Technology

Lucasfilm Ltd™

Premiering today, the second and final season of Star Wars streaming show Andor seems destined to be one of the pop culture defining moments of the second Trump presidency.

Andor, which began airing in 2022, tells the story of the early days of the Rebel Alliance before the adventures of Luke Skywalker and Princess Leia. The series is the most politically articulate of the Star Wars franchise.

Where older Star Wars entries focused on lightsaber battles and dogfights in space, Andor shows a world of political manifestos, fractious alliances between rebel groups, and surreptitious fundraising for revolution.

Season one of the show followed the political awakening of the titular Cassian Andor (Diego Luna), who progresses from troubled thief to total ideological commitment to fighting the Empire. The show also follows a covert revolutionary leader (Stellan Skarsgård), an ineffective politician who secretly finances the rebellion (Genevieve O’Reilly), and two Imperials manoeuvring for power (Denise Gough and Kyle Soller).

Showrunner Tony Gilroy has so far taken inspiration for Andor from a variety of real historical revolutionary events, from Stalin’s bank robbery in Tiflis of 1907 to the Baader-Meinhof group in West Germany.

Aesthetically, Andor has more in common with the political filmmaking of the likes of The Battle of Algiers (1966), the films of Costa-Gavras, or early Paul Greengrass than the central Flash Gordon-inspired Star Wars saga.

As authoritarian governments and conflicts loom large globally, the final season of Andor in 2025 is perfectly timed to articulate anxieties much closer to home than the galaxy far, far away.

Star Wars has always been political

Andor is far from the first time that Star Wars has captured the political zeitgeist. In fact, much of the franchise’s success stems from the way it provides us with a pop culture language to talk about politics.

In 2016, Trump’s first election win coincided with the release of Rogue One, the Star Wars precursor to Andor.

Within days, two Star Wars creatives made public comparisons between Trump and Rogue One’s villains, with writer Chris Weitz posting on Twitter “the Empire is a white supremacist (human) organization”. Writer Gary Whitta replied: “Opposed by a multi-cultural group led by brave women”.

They were officially reprimanded by the studio. “This is a film that the world should enjoy,” said Disney CEO Bob Iger at the time. “It is not a film that is, in any way, a political film.”

Under the ownership of a risk averse corporation like Disney, Star Wars is supposed to be family friendly, apolitical entertainment.

However, since its very conception, Star Wars has been political.

Inspired by anti-Vietnam war protests, director George Lucas described Darth Vader and the Empire as “Nixonian gangsters” in early drafts of the original film’s script. Lucas, who had developed Apocalypse Now before Francis Ford Coppola ultimately directed the film, has consistently claimed to have thought of the Rebel Alliance as similar to North Vietnamese fighters resisting United States forces.

When it came time for the prequel trilogy in the 2000s, Lucas told a story of democracy willingly falling to dictatorship (beginning with a trade war, something not lost on contemporary observers). In 2005, Lucas even had Darth Vader paraphrase George W. Bush.

It has also shaped politics. Scholars and critics like Andrew Britton and Robin Wood argued Star Wars was so escapist and disconnected from politics here on earth that it set the scene for Ronald Reagan’s good-versus-evil rhetoric.

A galaxy not so far away

It is precisely Star Wars’ apolitical image that gives it so much political utility. A series with such strong heroes and villains inevitably invites comparison.

Almost immediately after its release in 1977, Star Wars became a pop culture language for understanding politics.

When Maggie Thatcher won government in the United Kingdom on May 4 1979, the Conservative Party took out an advertisement in the London Evening News congratulating her with the words “May the Fourth Be With You”.

When Ronald Reagan proposed a “Strategic Defense Initiative” missile system in 1983, critics immediately and famously labelled it “Star Wars” (something Lucas tried unsuccessfully to stop). Reagan himself eventually joined in, too, claiming in a speech in 1985 that “the Force is with us”.

It is easy to find examples of politicians of all stripes being likened to Star Wars villains like Darth Vader (most enduring was Dick Cheney who claimed to not mind the comparison).

Composer John Williams’ Imperial March has even been played at protests as a way to antagonise opponents.

The enduring currency of the political language of Star Wars is in part due to its generalities. In any political conflict it helps to have a way to describe an archetypal evil puppet master (the Emperor), his henchman (Darth Vader), and the soulful heroes putting their lives on the line (the Jedi).

The real trick to Star Wars’ ongoing relevance, however, lies in its very real inspirations. Whether it is George W. Bush, the Viet Cong, or the Bolsheviks, Star Wars has time and again turned the specifics of political history into mythology.

At a time where many see global politics as having set the stage for the Empire to Strike Back, the final season of Andor may give many a language to articulate A New Hope.

Dan Golding does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Since its very conception, Star Wars has been political. Now Andor will take on Trump 2.0 – https://theconversation.com/since-its-very-conception-star-wars-has-been-political-now-andor-will-take-on-trump-2-0-254208

MIL OSI Analysis – EveningReport.nz –

April 22, 2025
MIL-Evening Report: Rates will never be enough – councils need the power to raise money in other ways

Source: The Conversation (Au and NZ) – By Guy C. Charlton, Adjunct Associate Professor at Auckland University of Technology and Associate Professor, University of New England

Getty Images

You might have recently received voting papers for your local body elections. Going by our historically low participation rates, many of those envelopes will remain unopened.

This is a shame, because New Zealand’s local authorities face major financial challenges that affect nearly everyone. Only by increasing democratic engagement and giving ratepayers more reason to vote will real change happen.

Local Government New Zealand recently estimated an extra NZ$11 billion is needed over the next seven years to meet unexpected cost increases. The credit rating agency S&P Global has downgraded 18 councils and three council-controlled organisations, and given negative outlooks to three more councils.

The auditor-general reported in February that inflation has driven up the costs of construction, insurance and debt servicing. This is putting pressure on operational expenses and capital improvements at the same time as demand for council services is increasing.

The central government problem

Central government supports councils primarily through grants, subsidies, shared revenue (such as from road taxes) and development contributions. But its main response to the financial stress now being felt has been to urge local governments to focus on “core tasks”, not “pet” and “vanity” projects.

To that end, the government has introduced annual council benchmark reports that will compare rates, debt levels, capital spending breakdowns and road conditions. It is also amending in the Local Government Act to remove references to the social, economic, environmental and cultural wellbeing of communities.

It also wants to encourage inter-council cooperation with its Regional Deals Strategic Framework and streamline resource management requirements that it believes hinder economic development.

It is unlikely these measures will be enough. Government contributions to councils have averaged around 10% of local government operating income since 2000, not enough to meet increasing legal and infrastructure costs.

Other OECD countries transfer significantly higher proportions of central taxes to local governments. In New Zealand, this might include central government reimbursing taxes and other revenues it captures due to local government activity (such the GST on rates).

The government could also pick up local costs that have national benefits, such as water and wastewater capacity at prime international tourism destinations. But more fundamental reform is needed.

Councils’ operational budgets are static while demand for their services are increasing.
Getty Images

Rates aren’t enough

At the moment, councils generate about 80% of their income from general and targeted rates, with the rest coming from things such as parking fines, amenities fees and investment interest.

This heavy reliance of rates is clearly inadequate to pay for local operational and infrastructure costs. This is despite recent court decisions giving councils more leeway to set, raise and target rates.

But to really make a difference, councils must also be given the legal authority to raise additional revenue themselves. This could include excise taxes on petrol and visitor accommodation, sales taxes and stamp duties.

As the recently repealed Auckland regional fuel tax demonstrated, excise taxes can be an effective way to raise funds for specific activities. The roughly $780 million it raised helped pay for the Eastern Busway ($272 million) and new commuter train cars ($330 million).

Room or lodging levies on overnight stays in hotels, motels, campgrounds, Airbnb and other short-term visitor rentals can help mitigate the impacts of tourism on local infrastructure and services.

In the Queenstown Lakes district, for example, a 5% levy on the estimated $413 million spent on accommodation in 2023 would generate $210 million over ten years, about 30% of the $756 million cost attributed to tourism.

Councils could also add a small extra levy on GST in their regions, a common practice in many large American cities and counties. Or they could apply a stamp duty on things like real estate transactions as Australia does.

Stamp duties might be a political non-starter in New Zealand. But what are known as “tax incremental districts” could be an effective way of offsetting the infrastructure and public facilities costs of new developments or economic revitalisation projects.

These schemes work by applying incremental increases in rates during the private development of an area. Done properly, they can be useful in brownfield redevelopment sites, as well as speeding up housing developments on city fringes.

Reinvigorating local democracy

New taxes are rarely popular, and selling the idea of local governments levying other sources of revenue to already stretched ratepayers will be difficult. But infrastructure and other costs cannot simply be ignored and passed down to future generations.

On top of more funding from central government, local authorities need the flexibility to creatively address their financial and infrastructure needs. The decision on whether and how they do this ultimately resides with ratepayers and electors.

Having more authority would also create more accountability in local government, reinvigorate local democracy and encourage overall policy innovation.

Without greater funding authority and fewer constraints on their activities, elected community representatives risk becoming mere administrators of central government policy rather than truly reflecting and shaping their electorates.

The author thanks Avi Charlton Diesch, a post-graduate student in finance at the University of Hong Kong, for his help with the preparation of this article.

Guy C. Charlton does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Rates will never be enough – councils need the power to raise money in other ways – https://theconversation.com/rates-will-never-be-enough-councils-need-the-power-to-raise-money-in-other-ways-252718

MIL OSI Analysis – EveningReport.nz –

April 22, 2025
MIL-OSI Security: U.S. Attorneys for Southwestern Border Districts Charge More than 1,220 Illegal Aliens with Immigration-Related Crimes During the Third week in April as part of Operation Take Back America.

Source: United States Attorneys General 1

Since the inauguration of President Trump, the Department of Justice is playing a critical role in Operation Take back America, a nationwide initiative to repel the invasion of illegal immigration, achieve total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

Last week, the U.S. Attorneys for Arizona, Central California, Southern California, New Mexico, Southern Texas, and Western Texas charged more than 1,220 defendants with criminal violations of U.S. immigration laws.

The Southern District of Texas filed 216 cases in immigration and security-related matters. As part of those cases, 86 face allegations of illegally reentering the country with the majority having felony convictions such as narcotics, firearms or sexual offenses, or prior immigration crimes. A total of 119 people face charges of illegally entering the country while 11 cases involve various instances of human smuggling. Some of those charged with felony reentry include Mexican national Alejandro Contreras-Zapata, who was allegedly found near Roma. The charges allege he had been previously sentenced to 20 years in prison for aggravated assault with a deadly weapon before his removal March 7.

The Western District of Texas filed 378 new immigration-related criminal cases. Among the new cases, Immigration and Customs Enforcement’s Enforcement Removal Operations (ICE ERO) agents in San Antonio received notification that Mexican national Netsai Moreno-Suarez was arrested for a traffic violation on April 11. Moreno-Suarez was transferred into ICE ERO custody, charged with illegal re-entry. She was previously removed from the United States in August 2023 after being convicted for conspiracy to transport illegal aliens and being sentenced to five years of probation. If convicted, Moreno-Suarez faces up to 20 years in federal prison.

The District of Arizona brought immigration-related criminal charges against 328 defendants. Specifically, the United States filed 130 cases in which aliens illegally re-entered the United States, and the United States also charged 179 aliens for illegally entering the United States. In its ongoing effort to deter unlawful immigration, the United States filed 16 cases against 18 individuals responsible for smuggling illegal aliens into and within the District of Arizona. The United States also charged one individual with failing to register, as required by law.

The Southern District of California filed 135 border-related cases this week, including charges of transportation of illegal aliens, bringing in aliens for financial gain, reentering the U.S. after deportation, deported alien found in the United States, and importation of controlled substances. A sample of border-related arrests this week: On April 15, Jesus Manuel Zuniga Huerta and Jose Alberto Flores Avalos of Mexico were arrested at the Otay Mesa Port of Entry and charged with importing deadly fentanyl into the U.S. According to a complaint, Customs and Border Protection officers discovered 148 pounds of fentanyl in the rear frame well of a tractor-trailer driven by Zuniga Huerta. On April 15, Brian Jaime Sanchez, a Mexican national, was arrested and charged with Bringing in Aliens for Financial Gain. According to a complaint, Customs and Border Protection officers found an undocumented immigrant concealed in the trunk of Sanchez’s car as he attempted to cross the border at the Tecate Port of Entry. On April 17, Sergio Villalba-Serrano, a Mexican national, was arrested and charged with Departed Alien Found in the United States. According to a complaint, Villalba-Serrano was taken into custody near the Tecate Port of Entry after his vehicle was stopped by U.S. Border Patrol agents. Villalba-Serrano had previously been deported on Oct. 26, 2019, from Laredo, Texas.

The Central District of California filed criminal charges against 34 defendants who are alleged to have been found in the United States following removal, the Justice Department announced today. Many of the defendants charged previously were convicted of felony offenses prior to their removal from the United States, including domestic violence, unlawful sex with a minor, and assault with a deadly weapon.

The District of New Mexico brought the following criminal charges in New Mexico: 68 individuals were charged this week with Illegal Reentry After Deportation (8 U.S.C. 1326), 10 individuals were charged this week with Alien Smuggling (8 U.S.C. 1324), and 55 individuals were charged this week with Illegal Entry (8 U.S.C. 1325). Many of the defendants charged pursuant to 18 U.S.C. 1326 had prior criminal convictions for possession of a dangerous weapon by a restricted person, aggravated driving under the influence and possession of a forgery writing/device.

We are grateful for the hard work of our border prosecutors in bringing these cases and helping to make our border safe again.

MIL Security OSI –

April 22, 2025
MIL-OSI: Zero Downtime, Full Transparency: UCFX Markets Raises the Industry Standard
Source: GlobeNewswire (MIL-OSI)

London, UK, April 21, 2025 (GLOBE NEWSWIRE) — In a time when traders are demanding clarity, performance, and accountability, UCFX Markets has emerged as a beacon of trust, efficiency, and modern trading architecture. With its recent announcement of zero system downtime and full trade transparency, the platform is drawing praise from analysts, high-volume traders, and everyday investors alike.

This dual milestone—infrastructure reliability and complete visibility into trades, pricing, and fees—has elevated UCFX Markets into a category of its own, especially as global platforms continue to suffer from lag, withdrawal delays, and policy confusion. As noted in a series of recent independent UCFXMarkets reviews, the company is delivering not just promises, but measurable performance.

Technology That Doesn’t Sleep

Since the beginning of 2025, UCFX Markets has achieved and maintained 100% operational uptime, a metric that few competitors can match. During major market events—including January’s unexpected altcoin surge and March’s Bitcoin correction—the platform experienced no outages or slowdowns, enabling traders to enter, manage, and exit positions in real time without risk of system-related loss.

“Our clients never have to worry about platform failure during volatile conditions,” said a senior infrastructure engineer at UCFX Markets. “Whether they’re day-trading, swing-trading, or holding long-term, they know the system will be there. No blackout windows. No server crashes.”

This commitment to consistency has sparked a surge in UCFXMarkets reviews, particularly from traders who have grown frustrated with unreliable platforms that freeze or disconnect during peak demand hours.

Full Transparency: From Fees to Execution

Beyond stability, UCFX Markets is also setting the bar for transparency. Clients now have access to:
- Live trade audit logs
- Real-time spread visibility
- Instant fee breakdowns
- AI-generated trade rationale reports
This level of openness has resonated with both retail and professional traders, many of whom have spent years navigating platforms with hidden charges or unclear execution histories.

“Transparency builds trust. And in 2025, trust is everything,” said a spokesperson for UCFX Markets. “We believe that traders deserve to see exactly how every trade is processed—and exactly what it costs.”

According to one recent financial report, over 78% of new clients cited transparency and system stability as the key reasons for moving to the platform. This has led to an influx of glowing UCFXMarkets reviews from users across Europe, Australia, and Asia.

What Traders Are Saying

Below are four real-world testimonials from verified clients now actively trading with UCFX Markets:

Liam H. – Manchester, UK
“I’ve used at least six trading platforms in the past five years. None come close to the stability and transparency of UCFX Markets. I don’t have to guess what’s happening with my orders. Everything’s logged and clear. I’ve already written multiple UCFXMarkets reviews because they earned it.”

Amelia W. – Sydney, Australia
“During the last flash crash, my previous platform froze completely. I lost over $4,000. That’s when I switched to UCFX Markets. Their uptime is unmatched, and the risk monitoring tools helped me protect every position. Highly recommend.”

Jonas L. – Berlin, Germany
“As someone managing multiple accounts, transparency is non-negotiable. I’ve had platforms lock me out, delay withdrawals, or hide spreads. With UCFX Markets, it’s all laid out. Nothing hidden. My team and I now manage all of our trades here.”

Rachel T. – Toronto, Canada
“It’s the only platform I’ve used where everything works exactly as promised. From deposits to withdrawals to reporting—it’s seamless. I’ve shared UCFXMarkets reviews with friends and colleagues because people deserve better options in crypto trading.”

The Industry Takes Notice

UCFX Markets’ consistent execution and operational integrity have not gone unnoticed. Independent rating firms and fintech publications are beginning to highlight the platform as a rising force in crypto and forex, especially among self-managed traders, portfolio managers, and regulated institutional desks.

The company is also gaining attention for its no-nonsense approach to compliance, offering streamlined KYC processes that meet international standards without unnecessary delays or hurdles. Combined with its real-time trade audit tools, UCFX Markets is positioning itself as a regulation-ready alternative for both individual and enterprise clients.

Looking Ahead: Smarter, Safer, Faster

UCFX Markets’ roadmap for 2025 includes:
- Advanced AI-driven trade strategy modeling
- Multilingual, around-the-clock support based in EU and APAC
- Custom dashboard environments for fund managers and quant traders
- Launch of smart trading alerts integrated with mobile apps
These innovations are expected to further boost user satisfaction and enhance already glowing UCFXMarkets reviews seen across fintech communities and trust platforms.

Conclusion

In a market flooded with short-lived platforms and empty promises, UCFX Markets is raising the bar through performance, clarity, and total reliability. With zero downtime and fully transparent operations, it offers a clear path forward for traders who demand both trust and results.

The MIL Network –
April 22, 2025

MIL-OSI: TrustCo Reports First Quarter 2025 Net Income of $14.3 Million From Repricing Loan Portfolio and Well-Managed Cost of Funds

Source: GlobeNewswire (MIL-OSI)

Executive Snapshot:

Bank-wide financial results:
- Key metrics for the first quarter 2025:
  - Net income of $14.3 million increased 17.7% compared to $12.1 million for the first quarter 2024
  - Net interest income of $40.4 million, up 10.4% from $36.6 million compared to the first quarter 2024
  - Average loans were up $104.7 million for the first quarter 2025 compared to the first quarter 2024
  - Average deposits were up $103.3 million for the first quarter 2025 compared to the first quarter 2024

Capital position and key ratios:
- Consolidated equity to assets increased to 10.85% as of March 31, 2025 from 10.51% as of March 31, 2024
- Book value per share as of March 31, 2025 was $36.16, up from $34.12 as of March 31, 2024
- Stock repurchase program announced authorizing for up to one million shares or approximately 5% of TrustCo’s current outstanding common stock

Trustco Financial Services and Wealth Management income:
- Fees increased to $2.1 million or 16.7% compared to first quarter 2024
- Assets under management increased to $1.2 billion or 17.4% compared first quarter 2024

GLENVILLE, N.Y., April 21, 2025 (GLOBE NEWSWIRE) —

TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced a robust start to 2025, marked by significant growth in both the loan and deposit portfolios of Trustco Bank during the first quarter of 2025 compared to the first quarter of 2024. This performance underscores the Bank’s commitment to serving its community through increased residential and commercial lending and adapting effectively to the evolving financial landscape. This resulted in first quarter 2025 net income of $14.3 million or $0.75 diluted earnings per share, compared to net income of $12.1 million or $0.64 diluted earnings per share for the first quarter 2024. Average loans increased $104.7 million or 2.1% for the first quarter 2025 over the same period in 2024. Average deposits increased $103.3 million or 1.9% for the first quarter 2025 over the same period in 2024.

Overview

Chairman, President, and CEO, Robert J. McCormick said “We are very pleased to announce today that tried and true Trustco Bank strategy has once again yielded exceptional results. We added loans at current market rates, which repriced our current loan portfolio higher, supporting long-term profitability. This was funded entirely by our own deposits, and we did so while holding the line on board rates. Despite aggressive market competition, we have favorably repriced our time deposits with the help of strong brand loyalty and digital engagement. These efforts yielded net income of $14.3 million and boosted all return metrics significantly year-over-year. Credit quality remains exceptional, with non-performing loans holding steady at a negligible 0.37%. The Bank also grew capital and thus maintains its position of strength. Based upon what we have seen in the first quarter, we anticipate that good things are likely in the future.”

Details

Average loans were up $104.7 million, or 2.1%, in the first quarter 2025 over the same period in 2024. Average residential loans and HECLs, our primary lending focus, were up $26.2 million, or 0.6%, and $61.0 million, or 17.3%, respectively, in the first quarter 2025 over the same period in 2024. Average commercial loans also increased $20.7 million, or 7.5%, in the first quarter 2025 over the same period in 2024. This uptick reflects a strong local economy and increased demand for credit. Average deposits were up $103.3 million, or 1.9%, for the first quarter 2025 over the same period in 2024, primarily as a result of an increase in time deposits, interest bearing checking accounts, and demand deposits. We believe the increase in these deposits compared to the same period in 2024 continues to indicate strong customer confidence in the Bank’s competitive deposit offerings. As we move forward, despite a complex economic environment, we believe that our strategic focus on relationship banking and solid financial practices has positioned us for continued success.

During the first quarter of 2025, the TrustCo announced a stock repurchase program of up to one million shares, or approximately 5% of TrustCo’s current outstanding shares of common stock. This repurchase initiative is part of the Bank’s broader capital management strategy and is intended to enhance shareholder value while maintaining flexibility to support future growth. As of March 31, 2025, our equity to asset ratio was 10.85%, compared to 10.51% as of March 31, 2024. Book value per share as of March 31, 2025 was $36.16, up 6.0% compared to $34.12 a year earlier.

Net interest income was $40.4 million for the first quarter 2025, an increase of $3.8 million, or 10.4%, compared to the first quarter of 2024, driven by loan growth at higher interest rates and less interest expense on deposit products, partially offset by lower investment interest income and a decrease in interest on federal funds sold and other short-term investments. The net interest margin for the first quarter 2025 was 2.64%, up 20 basis points from 2.44% in the first quarter of 2024. The yield on interest earnings assets increased to 4.13% in the first quarter of 2025, up 14 basis points from 3.99% in the first quarter of 2024. The cost of interest bearing liabilities decreased to 1.92% in the first quarter 2025, down from 1.99% in the first quarter 2024. As the Federal Reserve signals potential interest rate reductions in 2025, the Bank is proactively preparing to navigate the evolving rate environment. In this context, the Bank anticipates that a lower interest rate environment will provide opportunities to manage deposit costs more effectively, thereby supporting net interest margin. The Bank remains committed to maintaining competitive deposit offerings while ensuring financial stability and continued support for our communities’ banking needs.

Non-interest income increased to $5.0 million as compared to $4.8 million for the first quarter of 2024. This increase was primarily attributable to wealth management and financial services fees, which increased by 16.7% to $2.1 million, driven by strong client demand and higher assets under management. These revenues now represent 42.6% of non-interest income. The majority of this fee income is recurring, supported by long-term advisory relationships and a growing base of managed assets. Non-interest expense increased $1.4 million over the first quarter of 2024 due to increases in several areas of expenses.

Asset quality remains strong and has been consistent over the past twelve months. The Company recorded a provision for credit losses of $300 thousand in the first quarter of 2025, which is the result of a provision for credit losses on loans of $100 thousand, and a provision for credit losses on unfunded commitments of $200 thousand. The ratio of allowance for credit losses on loans to total loans was 0.99% and 0.98% as of March 31, 2025 and 2024, respectively. The allowance for credit losses on loans was $50.6 million as of March 31, 2025, compared to $49.2 million as of March 31, 2024. Nonperforming loans (NPLs) were $18.8 million as of March 31, 2025, compared to $18.3 million as of March 31, 2024. NPLs were 0.37% of total loans as of March 31, 2025 and 2024. The coverage ratio, or allowance for credit losses on loans to NPLs, was 269.8% as of March 31, 2025, compared to 269.3% as of March 31, 2024. Nonperforming assets (NPAs) were $20.9 million as of March 31, 2025, compared to $20.6 million as of March 31, 2024.

A conference call to discuss first quarter 2025 results will be held at 9:00 a.m. Eastern Time on April 22, 2025. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 048251. A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 486810. The call will also be audio webcast at https://events.q4inc.com/attendee/647533404,and will be available for one year.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 136 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of March 31, 2025.

In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

Forward-Looking Statements

All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding the effects of the economic environment on our financial results, our ability to retain customers and the amount of customers’ business, including deposit balances, with us, the impact of the Federal Reserve’s actions regarding interest rates, and the anticipated effects of our capital management strategy, including our stock repurchase program. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements, and many of the risks and uncertainties are heightened by or may, in the future, be heightened by volatility in financial markets and macroeconomic or geopolitical concerns related to inflation, changes in United States and foreign trade policy, continued elevated interest rates and ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas). TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; external economic factors, such as changes in monetary policy, ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; the enforcement of federal cannabis laws and regulations and its impact on our ability to provide services in the cannabis industry; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; an increase in the prevalence of fraud and other financial crimes; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; environmental, social and governance risks, as well as diversity, equity, and inclusion-related risks, and their impact on our reputation and relationships; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the development and use of artificial intelligence; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; and other risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q or other securities filings, as well as our upcoming quarterly report on Form 10-Q for the first quarter of 2025. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

TRUSTCO BANK CORP NY
GLENVILLE, NY

FINANCIAL HIGHLIGHTS

(dollars in thousands, except per share data)
(Unaudited)
	Three months ended
	3/31/2025			12/31/2024			3/31/2024
Summary of operations
Net interest income	$	40,373		$	38,902		$	36,578
Provision for credit losses		300			400			600
Noninterest income		4,974			4,409			4,843
Noninterest expense		26,329			28,165			24,903
Net income		14,275			11,281			12,126

Per share
Net income per share:
– Basic	$	0.75		$	0.59		$	0.64
– Diluted		0.75			0.59			0.64
Cash dividends		0.36			0.36			0.36
Book value at period end		36.16			35.56			34.12
Market price at period end		30.48			33.31			28.16

At period end
Full time equivalent employees		740			737			761
Full service banking offices		136			136			140

Performance ratios
Return on average assets		0.93	%		0.73	%		0.80	%
Return on average equity		8.49			6.70			7.54
Efficiency ratio (GAAP)		58.06			65.03			59.94
Adjusted Efficiency ratio (1)		58.00			63.93			59.94
Net interest spread		2.21			2.15			2.00
Net interest margin		2.64			2.60			2.44
Dividend payout ratio	47.97				60.70			56.48

Capital ratios at period end
Consolidated equity to assets		10.85	%		10.84	%		10.51	%
Consolidated tangible equity to tangible assets (1)		10.84	%		10.83	%		10.50	%

Asset quality analysis at period end
Nonperforming loans to total loans		0.37	%		0.37	%		0.37	%
Nonperforming assets to total assets		0.33			0.34			0.33
Allowance for credit losses on loans to total loans		0.99			0.99			0.98
Coverage ratio (2)	2.7x			2.7x			2.7x


(1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.
(2) Calculated as allowance for credit losses on loans divided by total nonperforming loans.


CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share data)
(Unaudited)
	Three months ended
	3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024
Interest and dividend income:
Interest and fees on loans	$	53,450	$	53,024	$	52,112	$	50,660	$	49,804
Interest and dividends on securities available for sale:
U. S. government sponsored enterprises		596		680		718		909		906
State and political subdivisions		–		–		–		1		–
Mortgage-backed securities and collateralized mortgage
obligations – residential		1,483		1,418		1,397		1,451		1,494
Corporate bonds		260		358		361		362		476
Small Business Administration – guaranteed
participation securities		81		84		90		94		100
Other securities		7		6		2		2		3
Total interest and dividends on securities available for sale		2,427		2,546		2,568		2,819		2,979

Interest on held to maturity securities:
obligations – residential		57		59		62		65		68
Total interest on held to maturity securities		57		59		62		65		68

Federal Home Loan Bank stock		151		152		153		147		152

Interest on federal funds sold and other short-term investments		6,732		6,128		6,174		6,894		6,750
Total interest income		62,817		61,909		61,069		60,585		59,753

Interest expense:
Interest on deposits:
Interest-bearing checking		558		397		311		288		240
Savings		734		719		770		675		712
Money market deposit accounts		1,989		2,024		2,154		2,228		2,342
Time deposits		18,983		19,680		18,969		19,400		19,677
Interest on short-term borrowings		180		187		194		206		204
Total interest expense		22,444		23,007		22,398		22,797		23,175

Net interest income		40,373		38,902		38,671		37,788		36,578

Less: Provision for credit losses		300		400		500		500		600
Net interest income after provision for credit losses		40,073		38,502		38,171		37,288		35,978

Noninterest income:
Trustco Financial Services income		2,120		1,778		2,044		1,609		1,816
Fees for services to customers		2,645		2,226		2,482		2,399		2,745
Net gains on equity securities		–		–		23		1,360		–
Other		209		405		382		283		282
Total noninterest income		4,974		4,409		4,931		5,651		4,843

Noninterest expenses:
Salaries and employee benefits		11,894		12,068		12,134		12,520		11,427
Net occupancy expense		4,554		4,563		4,271		4,375		4,611
Equipment expense		1,944		2,404		1,757		1,990		1,738
Professional services		1,726		1,782		1,863		1,570		1,460
Outsourced services		2,700		3,051		2,551		2,755		2,501
Advertising expense		361		590		339		466		408
FDIC and other insurance		1,188		1,113		1,112		797		1,094
Other real estate expense, net		28		476		204		16		74
Other		1,934		2,118		1,969		1,970		1,590
Total noninterest expenses		26,329		28,165		26,200		26,459		24,903

Income before taxes		18,718		14,746		16,902		16,480		15,918
Income taxes		4,443		3,465		4,027		3,929		3,792

Net income	$	14,275	$	11,281	$	12,875	$	12,551	$	12,126

Net income per common share:
– Basic	$	0.75	$	0.59	$	0.68	$	0.66	$	0.64

– Diluted		0.75		0.59		0.68		0.66		0.64

Average basic shares (in thousands)		19,020		19,015		19,010		19,022		19,024
Average diluted shares (in thousands)		19,044		19,045		19,036		19,033		19,032


CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands)
(Unaudited)
	3/31/2025			12/31/2024			9/30/2024			6/30/3024				3/31/2024
ASSETS:

Cash and due from banks	$	48,782		$	47,364		$	49,659		$	42,193		$	44,868
Federal funds sold and other short term investments		707,355			594,448			473,306			493,920			564,815
Total cash and cash equivalents		756,137			641,812			522,965			536,113			609,683

Securities available for sale:
U. S. government sponsored enterprises		65,942			85,617			90,588			106,796			128,854
States and political subdivisions		18			18			26			26			26
Mortgage-backed securities and collateralized mortgage
obligations – residential		219,333			213,128			222,841			218,311			227,078
Small Business Administration – guaranteed
participation securities		13,683			14,141			15,171			15,592			16,260
Corporate bonds		24,779			44,581			54,327			53,764			53,341
Other securities		698			700			701			688			682
Total securities available for sale		324,453			358,185			383,654			395,177			426,241

Held to maturity securities:
Mortgage-backed securities and collateralized mortgage
obligations-residential		5,090			5,365			5,636			5,921			6,206
Total held to maturity securities		5,090			5,365			5,636			5,921			6,206

Federal Reserve Bank and Federal Home Loan Bank stock		6,507			6,507			6,507			6,507			6,203

Loans:
Commercial		302,753			286,857			280,261			282,441			279,092
Residential mortgage loans		4,380,561			4,388,302			4,382,674			4,370,640			4,354,369
Home equity line of credit		419,806			409,261			393,418			370,063			355,879
Installment loans		13,017			13,638			14,503			15,168			16,166
Loans, net of deferred net costs		5,116,137			5,098,058			5,070,856			5,038,312			5,005,506

Less: Allowance for credit losses on loans		50,606			50,248			49,950			49,772			49,220
Net loans		5,065,531			5,047,810			5,020,906			4,988,540			4,956,286

Bank premises and equipment, net		37,178			33,782			33,324			33,466			33,423
Operating lease right-of-use assets		34,968			36,627			37,958			38,376			39,647
Other assets		108,681			108,656			98,730			102,544			101,881

Total assets	$	6,338,545		$	6,238,744		$	6,109,680		$	6,106,644		$	6,179,570

LIABILITIES:
Deposits:
Demand	$	793,306		$	762,101		$	753,878		$	745,227		$	742,997
Interest-bearing checking		1,067,948			1,027,540			988,527			1,029,606			1,020,136
Savings accounts		1,094,968			1,086,534			1,092,038			1,144,427			1,155,517
Money market deposit accounts		478,872			465,049			477,113			517,445			532,611
Time deposits		2,061,576			2,049,759			1,952,635			1,840,262			1,903,908
Total deposits		5,496,670			5,390,983			5,264,191			5,276,967			5,355,169

Short-term borrowings		82,275			84,781			91,450			89,720			94,374
Operating lease liabilities		38,324			40,159			41,469			42,026			43,438
Accrued expenses and other liabilities		33,468			46,478			43,549			42,763			37,399

Total liabilities		5,650,737			5,562,401			5,440,659			5,451,476			5,530,380

SHAREHOLDERS’ EQUITY:
Capital stock		20,097			20,097			20,058			20,058			20,058
Surplus		259,182			258,874			257,644			257,490			257,335
Undivided profits		453,931			446,503			442,079			436,048			430,346
Accumulated other comprehensive loss, net of tax		(132	)		(3,861	)		(6,600	)		(14,268	)		(14,763	)
Treasury stock at cost		(45,270	)		(45,270	)		(44,160	)		(44,160	)		(43,786	)

Total shareholders’ equity		687,808			676,343			669,021			655,168			649,190

Total liabilities and shareholders’ equity	$	6,338,545		$	6,238,744		$	6,109,680		$	6,106,644		$	6,179,570

Outstanding shares (in thousands)		19,020			19,020			19,010			19,010			19,024

NONPERFORMING ASSETS

(dollars in thousands)
(Unaudited)
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Nonperforming Assets

New York and other states*
Loans in nonaccrual status:
Commercial	$	688		$	343		$	466		$	741		$	532
Real estate mortgage – 1 to 4 family		14,795			14,671			15,320			14,992			14,359
Installment		139			108			163			131			149
Total non-accrual loans		15,622			15,122			15,949			15,864			15,040
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			–			–
Total nonperforming loans		15,622			15,122			15,949			15,864			15,040
Other real estate owned		2,107			2,175			2,503			2,334			2,334
Total nonperforming assets	$	17,729		$	17,297		$	18,452		$	18,198		$	17,374

Florida
Loans in nonaccrual status:
Commercial	$	–		$	–		$	314		$	314		$	314
Real estate mortgage – 1 to 4 family		3,135			3,656			3,176			2,985			2,921
Installment		3			22			5			22			–
Total non-accrual loans		3,138			3,678			3,495			3,321			3,235
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			–			–
Total nonperforming loans		3,138			3,678			3,495			3,321			3,235
Other real estate owned		–			–			–			–			–
Total nonperforming assets	$	3,138		$	3,678		$	3,495		$	3,321		$	3,235

Total
Loans in nonaccrual status:
Commercial	$	688		$	343		$	780		$	1,055		$	846
Real estate mortgage – 1 to 4 family		17,930			18,327			18,496			17,977			17,280
Installment		142			130			168			153			149
Total non-accrual loans		18,760			18,800			19,444			19,185			18,275
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			–			–
Total nonperforming loans		18,760			18,800			19,444			19,185			18,275
Other real estate owned		2,107			2,175			2,503			2,334			2,334
Total nonperforming assets	$	20,867		$	20,975		$	21,947		$	21,519		$	20,609


Quarterly Net (Recoveries) Chargeoffs

New York and other states*
Commercial	$	(3	)	$	62		$	65		$	–		$	–
Real estate mortgage – 1 to 4 family		41			(316	)		104			(74	)		(78	)
Installment		4			41			11			(2	)		36
Total net chargeoffs (recoveries)	$	42		$	(213	)	$	180		$	(76	)	$	(42	)

Florida
Commercial	$	(315	)	$	314		$	–		$	–		$	–
Real estate mortgage – 1 to 4 family		–			–			–			17			–
Installment		15			1			42			7			–
Total net (recoveries) chargeoffs	$	(300	)	$	315		$	42		$	24		$	–

Total
Commercial	$	(318	)	$	376		$	65		$	–		$	–
Real estate mortgage – 1 to 4 family		41			(316	)		104			(57	)		(78	)
Installment		19			42			53			5			36
Total net (recoveries) chargeoffs	$	(258	)	$	102		$	222		$	(52	)	$	(42	)


Asset Quality Ratios

Total nonperforming loans (1)	$	18,760		$	18,800		$	19,444		$	19,185		$	18,275
Total nonperforming assets (1)		20,867			20,975			21,947			21,519			20,609
Total net (recoveries) chargeoffs (2)		(258	)		102			222			(52	)		(42	)

Allowance for credit losses on loans (1)		50,606			50,248			49,950			49,772			49,220

Nonperforming loans to total loans		0.37	%		0.37	%		0.38	%		0.38	%		0.37	%
Nonperforming assets to total assets		0.33	%		0.34	%		0.36	%		0.35	%		0.33	%
Allowance for credit losses on loans to total loans		0.99	%		0.99	%		0.99	%		0.99	%		0.98	%
Coverage ratio (1)		269.8	%		267.3	%		256.9	%		259.4	%		269.3	%
Annualized net (recoveries) chargeoffs to average loans (2)		-0.02	%		0.01	%		0.02	%		0.00	%		0.00	%
Allowance for credit losses on loans to annualized net chargeoffs (2)		N/A			123.2x			56.3x			N/A			N/A

* Includes New York, New Jersey, Vermont and Massachusetts.
(1) At period-end
(2) For the three-month period ended

DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
INTEREST RATES AND INTEREST DIFFERENTIAL

(dollars in thousands)
(Unaudited)	Three months ended							Three months ended
	March 31, 2025							March 31, 2024
	Average			Interest		Average		Average			Interest		Average
	Balance					Rate		Balance					Rate
Assets

Securities available for sale:
U. S. government sponsored enterprises	$	74,680		$	596	3.19	%	$	125,973		$	906	2.88	%
Mortgage backed securities and collateralized mortgage
obligations – residential		239,509			1,483	2.46			258,814			1,494	2.30
State and political subdivisions		18			–	6.77			26			0	6.90
Corporate bonds		40,019			260	2.60			73,625			476	2.59
Small Business Administration – guaranteed
participation securities		15,003			81	2.15			18,224			100	2.20
Other		699			7	4.01			696			3	1.72

Total securities available for sale		369,928			2,427	2.62			477,358			2,979	2.50

Federal funds sold and other short-term Investments		613,646			6,732	4.45			497,652			6,750	5.45

Held to maturity securities:
Mortgage backed securities and collateralized mortgage
obligations – residential		5,233			57	4.34			6,329			68	4.30

Total held to maturity securities		5,233			57	4.34			6,329			68	4.30

Federal Home Loan Bank stock		6,507			151	9.28			6,203			152	9.80

Commercial loans		297,926			4,165	5.59			277,183			3,661	5.28
Residential mortgage loans		4,385,646			42,614	3.89			4,359,476			40,415	3.71
Home equity lines of credit		413,981			6,435	6.30			353,004			5,464	6.22
Installment loans		12,967			236	7.37			16,128			264	6.58

Loans, net of unearned income		5,110,520			53,450	4.19			5,005,791			49,804	3.98

Total interest earning assets		6,105,834		$	62,817	4.13			5,993,333		$	59,753	3.99

Allowance for credit losses on loans		(50,475	)						(48,824	)
Cash & non-interest earning assets		201,154							185,230


Total assets	$	6,256,513						$	6,129,739


Liabilities and shareholders’ equity

Deposits:
Interest bearing checking accounts	$	1,038,218		$	558	0.22	%	$	990,130		$	240	0.10	%
Money market accounts		469,070			1,989	1.72			544,687			2,342	1.73
Savings		1,089,358			734	0.27			1,158,558			712	0.25
Time deposits		2,054,494			18,984	3.75			1,889,929			19,677	4.19

Total interest bearing deposits		4,651,140			22,265	1.94			4,583,304			22,971	2.02
Short-term borrowings		83,207			180	0.88			93,316			204	0.88

Total interest bearing liabilities		4,734,347		$	22,445	1.92			4,676,620		$	23,175	1.99

Demand deposits		761,800							726,299
Other liabilities		78,748							80,158
Shareholders’ equity		681,618							646,662

Total liabilities and shareholders’ equity	$	6,256,513						$	6,129,739

Net interest income				$	40,372						$	36,578

Net interest spread						2.21	%						2.00	%


Net interest margin (net interest income to
total interest earning assets)						2.64	%						2.44	%

Non-GAAP Financial Measures Reconciliation

Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders’ equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets.

Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets.

Adjusted efficiency ratio is a non-GAAP measures of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense by the sum of net interest income and total non-interest income. We calculate the adjusted efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income and total noninterest income as determined under GAAP. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent.

We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible book value to shares outstanding, tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below.

NON-GAAP FINANCIAL MEASURES RECONCILIATION

(dollars in thousands)
(Unaudited)
		3/31/2025			12/31/2024			3/31/2024
Tangible Book Value Per Share

Equity (GAAP)		$	687,808		$	676,343		$	649,190
Less: Intangible assets			553			553			553
Tangible equity (Non-GAAP)		$	687,255		$	675,790		$	648,637

Shares outstanding			19,020			19,020			19,024
Tangible book value per share			36.13			35.53			34.10
Book value per share			36.16			35.56			34.12

Tangible Equity to Tangible Assets
Total Assets (GAAP)		$	6,338,545		$	6,238,744		$	6,179,570
Less: Intangible assets			553			553			553
Tangible assets (Non-GAAP)		$	6,337,992		$	6,238,191		$	6,179,017

Equity to Assets (GAAP)			10.85	%		10.84	%		10.51	%
Tangible Equity to Tangible Assets (Non-GAAP)			10.84	%		10.83	%		10.50	%

		Three months ended
Efficiency and Adjusted Efficiency Ratios		3/31/2025			12/31/2024			3/31/2024

Net interest income (GAAP)	A	$	40,373		$	38,902		$	36,578
Non-interest income (GAAP)	B		4,974			4,409			4,843
Revenue used for efficiency ratio (GAAP)	C	$	45,347		$	43,311		$	41,421

Total noninterest expense (GAAP)	D	$	26,329		$	28,165		$	24,903
Less: Other real estate expense, net	E		28			476			74
Expense used for efficiency ratio (Non-GAAP)	F	$	26,301		$	27,689		$	24,829

Efficiency Ratio (GAAP)	D/C		58.06	%		65.03	%		59.94	%
Adjusted Efficiency Ratio (Non-GAAP)	F/C		58.00	%		63.93	%		59.94	%

Subsidiary:		Trustco Bank

Contact:		Robert Leonard
		Executive Vice President
		(518) 381-3693

The MIL Network –

April 22, 2025

MIL-OSI: MiddleGround Capital Promotes Jordan Gabbert to Head of Investor Relations

Source: GlobeNewswire (MIL-OSI)

LEXINGTON, Ky., April 21, 2025 (GLOBE NEWSWIRE) — MiddleGround Capital (“MiddleGround”), an operationally focused private equity firm that makes control investments in North American and European headquartered middle-market B2B industrial and specialty distribution companies, today announced that it has promoted Jordan Gabbert to Head of Investor Relations. She will continue to work from the firm’s Lexington office, reporting to John Stewart, Founding and Managing Partner of MiddleGround.

In this role, Jordan will oversee all aspects of investor engagement and outreach, including fundraising and investor communications. She will communicate the firm’s investment considerations to its limited partners and other constituents, collaborating with MiddleGround’s investment professionals and team members to provide reporting and services to the firm’s investors.

“Since joining MiddleGround four years ago, Jordan has continually impressed our team and our limited partners with her deep knowledge of this industry and the needs of institutional investors,” said Stewart. “This promotion reflects the great work and service she has provided, and we are excited to empower her to build on this momentum so that we continue meeting the needs of current and prospective investors.”

Jordan joined MiddleGround in 2020 as a member of the Operations Team and transitioned to Investor Relations in 2023, where she has since taken on roles of increasing responsibility. Prior to joining MiddleGround, she held various positions in financial recruiting, business development, and financial analysis within the manufacturing sector.

“I’m very grateful to John and the MiddleGround family for this opportunity,” said Gabbert. “As we work to deliver long term value to our stakeholders, I am looking forward to communicating the MiddleGround story to our ever-growing network of investors.”

Jordan graduated from the University of Kentucky and earned undergraduate degrees in Management and Accounting, and her MBA from Midway University.

About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, Kentucky with over $3.85 billion of assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: https://middleground.com/.

MiddleGround Capital Media Contacts
Doug Allen/Maya Hanowitz
Dukas Linden Public Relations
MiddleGround@dlpr.com
+1 (646) 722-6530

The MIL Network –

April 22, 2025
MIL-OSI: CarGurus To Report First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

BOSTON, April 21, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles¹, announced it will issue a press release reporting financial results for the quarter ended March 31, 2025, after the close of the market on May 8, 2025.

CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on May 8, 2025. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company’s website at https://investors.cargurus.com.

An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on May 8, 2025, until 11:59 p.m. Eastern Time on May 22, 2025, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13752230. In addition, an archived webcast will be available on the Investors section of the company’s website at https://investors.cargurus.com.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. ¹

In addition to the U.S. marketplace, the company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks, and registered trademarks are the property of their respective owners.

¹Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q4 2024, U.S.

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
investors@cargurus.com

Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications
pr@cargurus.com

The MIL Network –

April 22, 2025
MIL-OSI: Tactile Medical to Release First Quarter of Fiscal Year 2025 Financial Results on May 5, 2025

Source: GlobeNewswire (MIL-OSI)

MINNEAPOLIS, April 21, 2025 (GLOBE NEWSWIRE) — Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that first quarter of fiscal year 2025 financial results will be released after the market closes on Monday, May 5, 2025.

Management will host a conference call with a question and answer session at 5:00 p.m. Eastern Time on May 5, 2025, to discuss the results of the quarter. Those who would like to participate may dial 877-407-3088 (201-389-0927 for international callers) and provide access code 13752588. A live webcast of the call will also be provided on the investor relations section of the Company’s website at investors.tactilemedical.com.

For those unable to participate, a replay of the call will be available for two weeks at 877-660-6853 (201-612-7415 for international callers); access code 13752588. The webcast will be archived at investors.tactilemedical.com.

About Tactile Systems Technology, Inc. (DBA Tactile Medical)

Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease by helping them live better and care for themselves at home. Tactile Medical collaborates with clinicians to expand clinical evidence, raise awareness, increase access to care, reduce overall healthcare costs and improve the quality of life for tens of thousands of patients each year.

Investor Inquiries:
Sam Bentzinger
Gilmartin Group
investorrelations@tactilemedical.com

The MIL Network –

April 22, 2025
MIL-OSI: Climb Global Solutions Appoints Paul Giovacchini to its Board of Directors

Source: GlobeNewswire (MIL-OSI)

EATONTOWN, N.J., April 21, 2025 (GLOBE NEWSWIRE) — Climb Global Solutions, Inc. (NASDAQ:CLMB) (“Climb” or the “Company”), a value-added global IT channel company providing unique sales and distribution solutions for innovative technology vendors, today announced that the Company’s Board of Directors (the “Board”) has elected Paul Giovacchini to the Board. With the election of Mr. Giovacchini, Climb’s Board increased to seven total members, six of whom are independent under the Nasdaq listing standards.

Mr. Giovacchini brings over 30 years of experience in private equity, corporate governance, and board leadership across public and private companies. He currently serves as the Lead Independent Director of TPI Composites, Inc. (NASDAQ:TPIC), where he previously served as Chairman and helped lead the company’s transformation into a global public enterprise. Mr. Giovacchini also serves as an independent consulting advisor to Advantage Capital Management, supporting private equity and debt investment strategies. Mr. Giovacchini holds a B.A. in Economics from Stanford University and an M.B.A. from Harvard Business School.

“Paul brings a wealth of executive leadership, investment expertise, and operational insight to our Board,” said John McCarthy, Chairman of the Board. “His extensive experience across public and private enterprises, coupled with his strong financial background, will be invaluable as we continue to strengthen our operational foundation and advance our organic and inorganic growth initiatives.”

Mr. Giovacchini stated, “Climb has built an impressive platform in the global IT channel, distinguished by its strong partnerships and consistent execution. As the Company enters its next chapter of growth, I’m honored to join the Board and contribute to its continued success. I look forward to leveraging my experience in governance, finance, and global expansion to support Climb’s long-term vision both domestically and abroad.”

About Climb Global Solutions

Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added global IT distribution and solutions company specializing in emerging and innovative technologies. Climb operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter and Climb Global Services. The Company provides IT distribution and solutions for companies in the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.

Additional information can be found by visiting www.climbglobalsolutions.com.

Forward-Looking Statements

The statements in this release, other than statements of historical fact, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to come within the safe harbor protection provided by those sections. These forward-looking statements are subject to certain risks and uncertainties. Many of the forward-looking statements may be identified by words such as ”look forward,” “believes,” “expects,” “intends,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “under construction,” “in development,” “opportunity,” “target,” “outlook,” “maintain,” “continue,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. In this press release, the forward-looking statements relate to, among other things, declaring and reaffirming our strategic goals, future operating results, and the effects and potential benefits of the strategic acquisition on our business. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include, without limitation, statements concerning our plans and expectations in connection with the addition to the Board and other plans and expectations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described in the section entitled “Risk Factors” contained in Item 1A. of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and from time to time in the Company’s filings with the Securities and Exchange Commission.

Company Contact

Matthew Sullivan
Chief Financial Officer
(732) 847-2451
MatthewS@ClimbCS.com

Investor Relations Contact

Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
CLMB@elevate-ir.com

The MIL Network –

April 22, 2025
MIL-OSI: Kaltura to Announce Financial Results for First Quarter 2025 on Thursday, May 8, 2025

Source: GlobeNewswire (MIL-OSI)

NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) — Kaltura (Nasdaq: KLTR), the Video Experience Cloud, today announced it will release its first quarter financial results for the period ended March 31, 2025, before market open on Thursday, May 8, 2025.

Management will host a conference call to review the Company’s first quarter 2025 financial results and discuss the financial outlook.

Date: Thursday, May 8, 2025

Time: 8:00 a.m. ET

United States/Canada Toll Free: 1-877-407-0789

International Toll: +1-201-689-8562

A live and archived webcast will be available in the Investor Relations section of Kaltura’s website at: https://investors.kaltura.com/news-and-events/events

About Kaltura
Kaltura’s mission is to create and power AI-infused hyper-personalized video experiences that boost customer and employee engagement and success. Kaltura’s AI Video Experience Cloud includes a platform for enterprise and TV content management and a wide array of Gen AI-infused video-first products, including Video Portals, LMS and CMS Video Extensions, Virtual Events and Webinars, Virtual Classrooms, and TV Streaming Applications. Kaltura engages millions of end-users at home, at work, and at school, boosting both customer and employee experiences, including marketing, sales, and customer success; teaching, learning, training and certification; communication and collaboration; and entertainment and monetization. For more information, visit www.corp.kaltura.com.

Investor Contacts:
Kaltura, Inc.
John Doherty
Chief Financial Officer
IR@Kaltura.com

Sapphire Investor Relations, LLC
Erica Mannion and Michael Funari
IR@Kaltura.com
+1-617-542-6180

Media Contacts:
Kaltura, Inc.
Nohar Zmora
pr.team@kaltura.com

Headline Media
Raanan Loew
raanan@headline.media
+1-347-897-9276

The MIL Network –

April 22, 2025
MIL-OSI USA: SCHUMER: SAVE OUR SMALL BUSINESSES FROM TRUMP’S TARIFF WAR; STANDING AT ALBANY’S YONO’S RESTAURANT WITH CAPITAL REGION BUSINESSES THAT ARE SEEING MAJOR PRICE INCREASES HURTING FAMILIES & LOCAL JOBS,…

US Senate News:

Source: United States Senator for New York Charles E Schumer
Albany’s Renowned Yono’s Restaurant Is In Panic Over Trump’s Tariffs That Threaten Their Business, And Small Businesses & Manufacturers In Capital Region Like Latham Pool Are Already Seeing Costs Spike From Trade War With Canada
Senator Says 14,000 NY-ers In The Capital Region Work In Industries Directly Impacted By Tariffs, And Albany Families Could See Prices Rise Nearly $5,000 More A Year
Schumer: We Need To Save Our Restaurants & Small Businesses From Trump’s Tariff War That Is Raising Prices And Killing Jobs
To kickstart National Cost of Living Week of Action, with Trump’s tariff war hammering Albany’s restaurants and small businesses, U.S. Senator Chuck Schumer today stood at Albany’s renowned Yono’s Restaurant with Capital Region small business leaders who are feeling major hits to their bottom line due to tariffs. The senator said this chaotic, self-destructive tariff war has Upstate NY restaurants, local businesses, and working- and middle-class families footing the bill, with the average family in the Capital Region estimated to be hit with nearly $5,000 in higher prices per year.
Schumer said every day this chaos continues it risks more than 14,000 jobs in the Capital Region in industries impacted by the tariffs and even more jobs in Upstate NY’s vital recreation and tourism industries. Schumer said enough is enough, and announced that when the Senate returns he will force a vote to end Trump’s trade war.
“Albany and the Capital Region are on the frontlines of Trump’s destructive tariff war. Let’s be clear: these tariffs are a tax increase on Upstate NY. Family restaurants are the heart and soul of the Capital Region and the backbone of Main Streets across Upstate New York. They are still recovering from the pandemic. They can’t afford to eat price increases when Trump slaps them with tariffs and neither can their customers. Small businesses and manufacturers have already seen costs skyrocket, and some are being hit with a double whammy as tourism & business from Canada dries up from Trump’s actions. No small business or restaurant in Upstate NY or anywhere in America can operate with this kind of uncertainty,” said Senator Schumer. “We need to save our restaurants & small businesses from Trump’s tariff war. That’s why when the Senate returns, I will force a vote to end this reckless trade war. This is a vital ingredient to protect restaurants and families throughout the Capital Region and across Upstate New York.”
Schumer explained Capital Region restaurants were already hit hard by the pandemic and many are still trying to recover. Schumer explained that restaurants operate on some of the slimmest margins – typically 3 to 5 percent – which could shrink more as tariffs go into effect. Since ingredients are perishable, restaurants don’t have the option of stockpiling materials and they can’t change suppliers on a whim. With the threat of tariffs looming, prices across the board have increased and restaurant owners are worried that customers can’t afford to go out to eat anymore. Without business, they might not be able to recover and would be forced to lay off staff, or worse, close their doors.
A New York Times analysis found that over 14,000 New Yorkers across the Capital Region including 4,400 in Albany County work in industries targeted by Trump’s tariffs, which does not even account for all the related jobs, including in the tourism and recreation industries, that are also being impacted by the damage of this trade war. According to the Main Street Alliance, a network of small businesses, 81.5% of small business respondents to a recent survey indicated they would raise prices for consumers due to tariffs and 31.5% indicated they would lay off employees as a result of the increased costs from tariffs.
The tariffs are also creating uncertainty for families and jobs and are expected to increase costs for the average American family by nearly $5,000 a year, while families are struggling to plan for the future without assurances about their jobs.
Yono’s Restaurant has Indonesian influences and relies on spices and fruits that are not widely produced domestically, such as coconut milk, lemongrass, kaffir lime leaves, palm sugar, chilies, and galangal. Without knowing how much they will cost, it is impossible for Yono’s to plan its menu, which they often shift seasonally, and now they do not know which products they can maintain a consistent, affordable supply of. In addition, as the market has shifted to more takeout and delivery options, Yono’s has relied on imported containers and bags that are already more expensive and could get more expensive with tariffs in effect.
The senator said unpredictability makes it difficult for local restaurants to plan for tomorrow, especially when they are already operating on such small margins. For example, when asked about catering orders, owners aren’t sure how to quote orders and are faced with the option of facing sky-high prices when planned events roll around, or even needing to turn down customers. These added challenges make it more difficult for small restaurants to survive against larger chain restaurants.
“Here at Yono’s we support an immense amount of USA grown meats, vegetables, cheeses, beer, spirits and wine. However our guests appreciate a broad amount of options. We use coconut milk, lemongrass, kaffir lime leaves, palm sugar, chilies, galangal, and pandan. These items are not able to be grown in the USA, let alone in the amounts we need. We also import lamb from New Zealand and Australia. Of course, he biggest items imported that affect us will be coffee (99.5% of the coffee consumed in the USA is imported). We can only grow coffee in Hawaii in this county. Even our fine wine glasses come from Austria,” said Dominick Purnomo, of Yono’s Restaurant.
Schumer added, “If this tariff war continues, it could devastate Upstate NY’s economy in ways we haven’t seen since the height of the pandemic. Our local restaurants and other small businesses are already operating on razor thin margins and now they’re being forced into difficult decisions, including if the increase in costs means they will need to raise prices for customers, lay off staff, or even close their business altogether. That is unacceptable.”
“New York State restaurants have faced immense challenges in recent years. From the hardships caused by the COVID-19 pandemic to the soaring price increases driven by inflation and the rising cost of living, many restaurants have fought to stay afloat. The implementation of these new tariffs is yet another blow to an already struggling industry. Tariffs on food and beverages will place an additional strain on restaurants, ultimately leading to higher prices that will be passed on to consumers. Restaurants are not only a cornerstone of New York State’s economy but also serve as essential gathering places for communities to come together and enjoy each other’s company. Simply put, the tariffs are just an unnecessary burden on an industry barely hanging on. We urge the Administration to control consumer price increases as much as possible by exempting food and beverage items from future tariffs,” said Melissa Fleischut, President and CEO of the New York State Restaurant Association.
Other businesses across industries are also facing uncertainty. Latham Pool, the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, has called the Capital Region its home for nearly 70 years. Latham Pool has 1,500 employees including 300 in New York State, mostly in the Capital Region. Tariffs on foreign goods – especially aluminum and steel – are impacting Latham Pool’s ability to serve its customers and his company along with so many others are deeply fearful of customers pulling back. We are already seeing these fears manifest across America as consumer confidence is cratering and is the lowest it has been in years due to tariffs.
Latham Pool estimates that 15-20% of their materials are sourced from overseas and will be impacted by the tariffs. Worse, they are impacted by the devolving trade relationship with Canada, where the Canadian reciprocal tariff now disadvantages their products for sale in Canada, which has been a strong market for them.
The whiplash and uncertainty over tariffs have also sent the economy into a tailspin. Trump previously delayed the start of his tariffs twice and canceled across-the-board tariffs six days after implementing them. Uncertainty is causing the stock market to fall, causing chaos for restaurants to operate, and shaking the job market.
Schumer said the Senate has a plan to end this dangerous trade war and protect Upstate NY businesses. Earlier this month, the Senate passed a bipartisan resolution to end tariffs on Canada and urged the House to pass it as well. Schumer also said when the Senate returns, he will force a vote to reverse these new taxes of 10% on all imported goods and end the looming threat of additional tariffs of up to 49% on products Americans buy from other countries. Schumer said ending this costly trade war is key to protecting New York from price increases and job losses as a result of tariffs on Canada.
Schumer concluded, “I am all for addressing trade imbalances—I have always been a China hawk and have long fought against unfair trade practices, but these sweeping, ill-conceived tariffs are creating chaos and undermining those goals. Rather than uniting the world against China, Trump has united them against us! No matter which way you slice it, costs are going to skyrocket for our local restaurants and consumers. If you’re in Upstate New York, you’ll feel it first, and worse than just about anywhere in the country. We need everyone, especially NY Republicans, to stand up against Trump’s senseless, job-killing, cost-increasing tax on Upstate New Yorkers.”
When the Senate returns, it will vote on a bipartisan resolution that would terminate the emergency declared by Trump to authorize his global tariffs. If the resolution is enacted into law, the tariffs would be rescinded. The Senate also previously passed a bipartisan resolution terminating Trump’s national emergency that is justifying his destructive tariffs on Canada, which Schumer said the House needs to vote on. Schumer has been a vocal supporter of both resolutions.

MIL OSI USA News –

April 22, 2025
MIL-OSI USA: SCHUMER: SAVE OUR RESTAURANTS & SMALL BUSINESSES FROM TRUMP’S TARIFF WAR, STANDING WITH CENTRAL NY BUSINESSES SEEING MAJOR PRICE INCREASES HURTING FAMILIES & LOCAL JOBS, SENATOR ANNOUNCES SENATE DEMS…

US Senate News:

Source: United States Senator for New York Charles E Schumer
Syracuse’s Renowned Emerald Cocktail Kitchen Is In Panic Over Trump’s Tariffs That Threaten Their Business, And Small Businesses & Manufacturers Across Central NY Are Already Seeing Costs Spike From Trade War With Canada
Senator Says 16,000 NY-ers In Central NY Work In Industries Directly Impacted By Tariffs, And Syracuse Families Could See Prices Rise Nearly $5,000 More A Year
Schumer: We Need To Save Our Restaurants & Small Businesses From Trump’s Tariff War That Is Raising Prices And Killing Jobs
To kickstart National Cost of Living Week of Action, with Trump’s tariff war hammering Syracuse’s restaurants and small businesses, U.S. Senator Chuck Schumer today stood at Syracuse’s renowned Emerald Cocktail Kitchen with Central NY small business leaders who are feeling major hits to their bottom line due to tariffs. The senator said this chaotic, self-destructive tariff war has Upstate NY restaurants, local businesses, and working- and middle-class families footing the bill, with the average family in Central NY estimated to be hit with nearly $5,000 in higher prices per year.
Schumer said every day this chaos continues it risks more than 16,000 jobs in Central NY in industries impacted by the tariffs and even more jobs in Upstate NY’s vital recreation and tourism industries. Schumer said enough is enough, and announced that when the Senate returns he will force a vote to end Trump’s trade war.
“Syracuse and Central New York are on the frontlines of Trump’s destructive tariff war. Let’s be clear: these tariffs are a tax increase on Upstate NY. Family restaurants are the heart and soul of Central New York and the backbone of Main Streets across Upstate New York. They are still recovering from the pandemic. They can’t afford to eat price increases when Trump slaps them with tariffs and neither can their customers. Small businesses and manufacturers have already seen costs skyrocket, and some are being hit with a double whammy as tourism & business from Canada dries up from Trump’s actions. No small business or restaurant in Upstate NY or anywhere in America can operate with this kind of uncertainty,” said Senator Schumer. “We need to save our restaurants & small businesses from Trump’s tariff war. That’s why when the Senate returns, I will force a vote to end this reckless trade war. This is a vital ingredient to protect restaurants and families throughout Central New York and across Upstate New York.”
Schumer explained Central NY restaurants were already hit hard by the pandemic and many are still trying to recover. Schumer explained that restaurants operate on some of the slimmest margins – typically 3 to 5 percent – which could shrink more as tariffs go into effect. Since ingredients are perishable, restaurants don’t have the option of stockpiling materials and they can’t change suppliers on a whim. With the threat of tariffs looming, prices across the board have increased and restaurant owners are worried that customers can’t afford to go out to eat anymore. Without business, they might not be able to recover and would be forced to lay off staff, or worse, close their doors.
A New York Times analysis found that over 16,000 New Yorkers across Central NY including 10,000 in Onondaga County work in industries targeted by Trump’s tariffs, which does not even account for all the related jobs, including in the tourism and recreation industries, that are also being impacted by the damage of this trade war. According to the Main Street Alliance, a network of small businesses, 81.5% of small business respondents to a recent survey indicated they would raise prices for consumers due to tariffs and 31.5% indicated they would lay off employees as a result of the increased costs from tariffs.
The tariffs are also creating uncertainty for families and jobs and are expected to increase costs for the average American family by nearly $5,000 a year, while families are struggling to plan for the future without assurances about their jobs.
At the Emerald Cocktail Kitchen, co-founded by local businesswomen Michelle and Nora Roesch, Trump’s tariffs have already begun to take root and are among the Roesch’s chief concerns moving forward, with some of their liquor and wine being imported from Canada and other countries. On the food side of the house, Emerald’s culinary experts use cheeses like feta and gouda, imported from Greece and the Netherlands, as key ingredients in their burgers, pizzas and salads. They also use fruits and other products imported from Canada and Mexico.
In addition to the wide ranging impact that tariffs will have on Emerald Cocktail Kitchen’s menu, they are driving increased costs across the board, which in turn are driving down consumer discretionary spending. As a result, Emerald Cocktail Kitchen customers have started spending less money on an average visit and opting to save by skipping an appetizer or desert. With customers spending less, the business brings in less and employees receive less in tips on smaller checks. Altogether, Trump’s tariffs have left small businesses like Emerald Cocktail Kitchen exposed to significant impacts, uncertain about how to proceed, and uneasy about what could be next.
The senator said unpredictability makes it difficult for local restaurants to plan for tomorrow, especially when they are already operating on such small margins. For example, when asked about catering orders, owners aren’t sure how to quote orders and are faced with the option of facing sky-high prices when planned events roll around, or even needing to turn down customers. These added challenges make it more difficult for small restaurants to survive against larger chain restaurants.
“Imported goods like tequila, gin, prosecco, Aperol, avocados, limes, feta, gouda, and more – all of which are staples behind our bar and in our kitchen – have surged in price as a result of recent United States tariff policy decisions. In Central New York, small businesses like ours depend on steady customer traffic and predictable costs to survive. Unfortunately, the administration’s back-and-forth approach to tariff implementation has made long-term planning feel impossible,” said Michelle Roesch, Co-owner of Emerald Cocktail Kitchen. “For small Syracuse businesses like ours, Trump’s tariffs have created the same kind of stress and uncertainty we felt during COVID – except this time, it’s self-inflicted. As a result, customers are watching their wallets, staff are taking home smaller tips, and we’ve had to cut back on bulk orders. We need trade policies that lift up small and local businesses, not weigh them down. That is why I am proud to stand in support of Senator Schumer as he fights to force a vote Trump’s trade war in support of small businesses here in Syracuse and all across Upstate NY.”
Schumer added, “If this tariff war continues, it could devastate Upstate NY’s economy in ways we haven’t seen since the height of the pandemic. Our local restaurants and other small businesses are already operating on razor thin margins and now they’re being forced into difficult decisions, including if the increase in costs means they will need to raise prices for customers, lay off staff, or even close their business altogether. That is unacceptable.”
Other businesses across industries are also facing uncertainty. In the City of Syracuse alone, tariffs are among the top concerns at restaurants and artisanal food shops like The Wedge and the Curd Nerd, veteran-owned businesses like Talking Cursive Brewing Company, and local food vendors like Firecracker Thai Kitchen at Salt City Market. Elsewhere in Central New York, 5th generation family and employee-owned northern hardwood lumber producer, Gutchess Lumber, and it’s 500 employee-owners are also bracing for negative impacts to their business.
In the North Country, Trump’s tariffs and trade war with Canada have already taken a toll on craft breweries like 1812 Brewing Company in Watertown, manufacturing companies like AmTech Yarns in Massena, and transportation authorities like the Ogdensburg Bridge & Port Authority. In addition, Alcoa, an aluminum producer based in the North Country, predicts tariffs will cost the company an additional $90 million this quarter alone.
In the Mohawk Valley, local coffee shops like Character Coffee in the City of Utica, and trendy fast-casual restaurants like Laffa’s Mediterranean Grill in the Town of New Hartford have both started to feel the impact of tariffs.
“New York State restaurants have faced immense challenges in recent years. From the hardships caused by the COVID-19 pandemic to the soaring price increases driven by inflation and the rising cost of living, many restaurants have fought to stay afloat. The implementation of these new tariffs is yet another blow to an already struggling industry. Tariffs on food and beverages will place an additional strain on restaurants, ultimately leading to higher prices that will be passed on to consumers. Restaurants are not only a cornerstone of New York State’s economy but also serve as essential gathering places for communities to come together and enjoy each other’s company. Simply put, the tariffs are just an unnecessary burden on an industry barely hanging on. We urge the Administration to control consumer price increases as much as possible by exempting food and beverage items from future tariffs,” said Melissa Fleischut, President and CEO of the New York State Restaurant Association.
“At a small business like Firecracker Thai, we feel the impact of tariffs and increased costs on every single order and with every single purchase. We plan to increase menu prices by 10-15% to help offset rising costs, but our prices can only go so high before we risk pricing out customers. Unfortunately, our planned 10-15% increase is not enough to cover all of our increased costs, so the remainder will take a bite out of our bottom line,” said Sarah Tong-Ngork, Owner of Firecracker Thai Kitchen. “In addition, tariffs have made it more difficult to find authentic, imported ingredients like Jasmine Rice and Rice Noodles at local markets. After the devastating impact that COVID had on the food service industry, the last thing we need is to increase prices and disrupt supply chains. I would like to thank Senator Schumer for coming to Syracuse to fight for small businesses like Firecracker Thai and small business owners like me.”
“As a small craft brewery in Central New York, Talking Cursive Brewing Company faces significant challenges due to tariffs. We rely on imported aluminum cans from Canada, as well as hops and grain from the EU, Australia, and New Zealand. These tariffs, coupled with their ripple effects on the global economy, have been compounded by other actions from the current administration that are reshaping travel, tourism, and consumer behavior. While we experienced a brief uptick in business at the end of 2024 and into January, February and March of this year have seen a sharp decline, with customer counts and sales dropping more than 25% year-over-year. This marks the first time in our seven years of operation that we’ve faced such a downturn in the first quarter,” said Andrew Brooks, Co-Owner of Talking Cursive Brewing Company. “Tourism is a vital part of our business, especially in the summer when 15-20% of our customers are tourists, including about 7% from Canada. Many Canadians I know that travel here often have expressed that they feel disrespected by the current administration, and no longer plan to visit the U.S. in the near future. This decline in tourism directly impacts the revenue of both our tasting room and accounts that we distribute to across New York, including several in the Thousands Islands Region that depend on Canadian tourists. We anticipate a significant loss of sales in that region and will need to reassess the viability of distributing there. I appreciate the efforts that Senator Schumer is taking to help support small businesses like ours during these challenging times.”
“Over the last 24 month, 1812 Brewing Company has invested hundreds of man hours and significant capital to gain entry into the Ontario, Canada market. Because of recently implemented tariffs, the Provincial Government of Ontario has put a stop on the purchase of all American-made craft beer, including our gold medal winning War of 1812 Amber Ale. This will immediately cut off around 10% of our sales,” said Thomas W. Scozzafava, Chairman & CEO of 1812 Brewing Company. “Although relatively small, 1812 Brewing Company and its employees will be hurt by an escalating Trade War with Canada, which could ultimately result in the loss of jobs in our local plant. I hope that those deciding these policies – on both sides of the aisle – understand the true human impact of sudden and dramatic changes to the parameters of trade with our Canadian partners. I thank Senator Schumer for sticking up for small businesses like 1812 and always fighting to protect New York State’s craft breweries.”
“As the owner of Character Coffee in Utica, I rely on specialty roasters who are already feeling the impact of new tariffs. Coffee isn’t grown in the U.S. — so by design, our industry depends on farmers around the world. Even more concerning, these tariffs are piling onto an already fragile supply chain, strained by climate shifts and a year of poor harvests. It’s not just the coffee we have to worry about, but everything from cups and lids to delivery fees,” said Katie Aiello, Owner of Character Coffee. “When costs rise, customers pull back — starting with discretionary spending like grabbing a cup of coffee. The uncertainty is costly too. It’s hard to plan, price, or grow when every week brings new instability in the market. Independent cafes aren’t faceless corporations. We’re local businesses trying to offer good jobs, contribute to the community, and serve something meaningful. These tariffs threaten that. We urgently need thoughtful trade policy that protects American small businesses, and that is why I am proud to stand alongside Senator Schumer in Syracuse today to join in his fight for to safeguard locals businesses like mine.”
“Since we opened in 2021, rising costs have been one of our biggest challenges, and we’ve had no choice but to pass some of that burden onto our customers just to stay open. With tariffs on the horizon, we’re already seeing price hikes on ingredients we depend on, like kalamata olives, tahini, and feta,” said Elias Zeina, Owner of Lafa Mediterranean. “It’s heartbreaking—we’re trying to protect our team and our guests, but I worry about how much more our customers can take. Small business owners like me are feeling squeezed, and our customers are the ones paying the price.
The whiplash and uncertainty over tariffs have also sent the economy into a tailspin. Trump previously delayed the start of his tariffs twice and canceled across-the-board tariffs six days after implementing them. Uncertainty is causing the stock market to fall, causing chaos for restaurants to operate, and shaking the job market.
Schumer said the Senate has a plan to end this dangerous trade war and protect Upstate NY businesses. Earlier this month, the Senate passed a bipartisan resolution to end tariffs on Canada and urged the House to pass it as well. Schumer also said when the Senate returns, he will force a vote to reverse these new taxes of 10% on all imported goods and end the looming threat of additional tariffs of up to 49% on products Americans buy from other countries. Schumer said ending this costly trade war is key to protecting New York from price increases and job losses as a result of tariffs on Canada.
Schumer concluded, “I am all for addressing trade imbalances—I have always been a China hawk and have long fought against unfair trade practices, but these sweeping, ill-conceived tariffs are creating chaos and undermining those goals. Rather than uniting the world against China, Trump has united them against us! No matter which way you slice it, costs are going to skyrocket for our local restaurants and consumers. If you’re in Upstate New York, you’ll feel it first, and worse than just about anywhere in the country. We need everyone, especially NY Republicans, to stand up against Trump’s senseless, job-killing, cost-increasing tax on Upstate New Yorkers.”
When the Senate returns, it will vote on a bipartisan resolution that would terminate the emergency declared by Trump to authorize his global tariffs. If the resolution is enacted into law, the tariffs would be rescinded. The Senate also previously passed a bipartisan resolution terminating Trump’s national emergency that is justifying his destructive tariffs on Canada, which Schumer said the House needs to vote on. Schumer has been a vocal supporter of both resolutions.

MIL OSI USA News –

April 22, 2025
MIL-OSI USA: SCHUMER CALLS FOR TRANSPORTATION SECRETARY TO MEET WITH FLIGHT 3407 FAMILIES AND COMMIT TO THEM PERSONALLY TO PROTECTING 1,500 HOUR RULE AND AIR SAFETY REGULATION SENATOR & FAMILIES FOUGHT TOGETHER TO…

US Senate News:

Source: United States Senator for New York Charles E Schumer
Trump’s FAA Nominee, The CEO Of Republic Airways, Has Previously Fought To Roll Back Basic Air Safety Standards – Including Rule that Pilots Must Have 1,500 Hours Of Flight Training – That Flight 3407 Families Have Fought For
Amid Growing Calls For FAA Safety, Schumer Urges Trump’s Transportation Secretary To Meet With Flight 3407 Families, Which Every Previous Transportation Secretary Has Done
Schumer: We Must Protect Air Safety Regulations And Honor Advocacy Of 3407 Families
A longtime advocate for airline safety, U.S. Senate Minority Leader Chuck Schumer called for U.S. Transportation Sean Duffy to meet with the families of Flight 3407 and commit to them clearly and unequivocally that he will not roll back the aviation safety law and pilot training standard, including the 1,500 rule, that they fought together to create. Schumer said amid growing calls for FAA Safety he is concerned about Trump’s FAA nominee’s proposal to roll back basic air safety standards and urged Secretary Duffy to meet with families and commit to upholding air safety regulations.
“With air safety concerns more prevalent than ever, this rule is vital to keep air travel safe, uphold the integrity of our aviation system, and save lives. I strongly urge Secretary Duffy to meet with the families of Flight 3407… I urge you to meet with the families of Flight 3407—the ones who paid the highest price—and make that same commitment to them, clearly and unequivocally,” wrote Senator Schumer. “I will be frank: I am gravely concerned about Bryan Bedford’s nomination to serve as FAA administrator. Mr. Bedford has been one of the most vocal and persistent advocates of rolling back and circumventing basic air safety standards, including the 1500-hour rule. I find Bedford’s nomination to run the very agency tasked with keeping our skies safe incredibly dangerous.”
Schumer has been a long-time, relentless advocate for air safety standards following the tragic crash of Colgan Air Flight 3407. In February 2009, the tragic crash of Flight 3407 near Buffalo, New York claimed 50 lives and alerted the nation to the shortfalls in our aviation safety system, particularly at the regional airline level. In the wake of the tragedy, Schumer worked with the families who lost loved ones in the crash, to pass the Airline Safety and Federal Aviation Administration Extension Act of 2010. This landmark aviation safety legislation addressed many of the factors contributing to the increasing safety gap between regional and mainline carriers by requiring the FAA to develop regulations to improve safety, including enhanced entry-level pilot training and qualification standards, pilot fatigue rules, airline pilot training and safety management programs, and the creation of an electronic Pilot Record Database.
Notably, the legislation included a mandate that first officers – also known as co-pilots – hold an Airline Transport Pilot (ATP) certificate, which requires that the pilot log 1,500 flight hours, and the advocacy of the families has led to many other laws including regulations to combat pilot fatigue, the establishment of the electronic Pilot Records Database, and more.
Schumer’s letter to Secretary Duffy can be found HERE or below:
Dear Secretary Duffy:
I write to you during a pivotal moment for air safety regarding an issue near and dear to me: the 1500-hour pilot training requirement established in the aftermath of the tragic Colgan Flight 3407 in February 2009, which claimed the lives of 50 people.
This essential safety standard—born from profound loss and championed with unwavering dedication by the families of the victims—has been instrumental in advancing the safety of our nation’s skies over the past decade. Now, with air safety concerns more prevalent than ever, this rule is vital to keep air travel safe, uphold the integrity of our aviation system, and save lives. I strongly urge you to meet with the families of Flight 3407, as every Transportation Secretary has done since the tragedy. I am confident that you, like your predecessors, will find their wisdom, experience, and insight to be invaluable.
As you know from our January 2025 meeting in my office, I have worked arm-in-arm with the 3407 families for more than 16 years. With serious and growing concerns about air travel safety across the country, there is no room for hesitation: the 1500-hour rule must not only be upheld, it must be defended without compromise. You gave me your word that you would protect it. Now, I urge you to meet with the families of Flight 3407—the ones who paid the highest price—and make that same commitment to them, clearly and unequivocally.
The Colgan crash alerted our nation to shortfalls in our aviation safety system, particularly at the regional airline level, where the National Transportation Safety Board (NTSB) accident report found 46 contributing factors, many directly related to piloting experience. Immediately, I joined the families in the fight to close the massive gaps in air safety and save lives: ultimately leading to the passage of the Airline Safety and Federal Aviation Administration Extension Act of 2010.
The totality of the 2010 law’s provisions has made the skies safer by putting the best pilots in the cockpit and setting them up for success. A keystone of that law was a mandatory First Officer Qualifications (FOQ) rule, colloquially known as the 1500-hour rule, that was formally adopted in 2013. This rule requires 1500 hours of in-air training and experience, among other requirements, prior to prospective pilots earning their Airline Transport Pilot (ATP) certificate. Against industry objections and repeated attempts to circumvent this safety standard, the 1500-hour rule has proven to be a life-saving success and has been upheld in every FAA reauthorization since its adoption, including the most recent 2024 reauthorization.
I will be frank: I am gravely concerned about Bryan Bedford’s nomination to serve as FAA Administrator. Mr. Bedford has been one of the most vocal and persistent advocates of rolling back and circumventing basic air safety standards, including the 1500-hour rule. I find Bedford’s nomination to run the very agency tasked with keeping our skies safe incredibly dangerous.
As early as 2014, less than a year after the 1500-hour rulemaking process took effect, Mr. Bedford – serving as Republic Airways CEO – sought to reduce the number of hours required to serve as a pilot-in-command of a commercial airline. Again in 2022, the Bedford-led Republic Airways sought to circumvent flight-safety regulations by requesting an exemption from the 1500-hour rule.[2] The FAA eventually denied this request, following strong advocacy from me and the families against Bedford’s attempt to roll back safety standards. Given his history, there is ample reason to believe that Bedford would utilize the authority delegated to the Administrator in Sec. 217(d) of the 2010 law to grant credits that would effectively erode the 1,500-hour rule.
Congress’s intent in delegating this authority was to empower a safety-minded FAA Administrator with flexibility to give credits for accredited academic training experience certified by either the military or the FAA, not with an end-around to effective safety standards. Mr. Bedford’s anti-safety track record suggests that he will abuse his authority to enhance the financial performance of regional airlines at the cost of safety for the American flying public.
Make no mistake, the 3407 families and I will doggedly fight against any attempt by Bedford to weaken air-safety, just as we have successfully done so for years.
There is a phrase in Hebrew: “May their memory be a blessing.” Since the 2010 FAA law’s passage, the memory of the 50 lives lost on Flight 3407 has become just that—a blessing that has protected millions of American travelers. Through unimaginable loss, the families turned grief into action and pain into purpose. Today, with serious questions surrounding air safety in America, I ask you to honor your commitment to me to protect the 1500-hour rule, to meet with the Flight 3407 families to reaffirm the same, and to let the memory of those we lost continue to serve as a blessing—for their families, for our skies, and for all Americans.

MIL OSI USA News –

April 22, 2025
MIL-OSI USA: H.R. 1948, a bill to authorize the International Boundary and Water Commission to accept funds for activities relating to wastewater treatment and flood control works, and for other purposes

Source: US Congressional Budget Office

H.R. 1948 would authorize the U.S. International Boundary and Water Commission to accept and spend contributions from federal and certain nonfederal entities to carry out wastewater treatment, water conservation, and flood control projects. The bill would require the commission to report annually on how any collections were used.

Any contributions from nonfederal entities would be recorded in the budget as offsetting receipts, that is, as reductions in direct spending. CBO expects that the amount the commission would collect each year from federal and nonfederal sources would vary depending on the needs, priorities, and financial resources of the contributing entities. Based on historical spending patterns of similar activities, CBO estimates that any collections would be spent soon after they are received. Thus, under the bill, the net effect on direct spending would be negligible in each year and over the 2025-2035 period.

Based on the costs of similar requirements, CBO estimates that the annual report would cost less than $500,000 over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

The CBO staff contact for this estimate is Kelly Durand. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

April 22, 2025
MIL-OSI USA: Gov. Kemp Signs Historic Legislation Delivering Commonsense, Meaningful Tort Reform
Source: US State of Georgia

ATLANTA – Governor Brian P. Kemp, joined by First Lady Marty Kemp, Lieutenant Governor Burt Jones, Speaker Jon Burns, Constitutional Officers, members of the Georgia General Assembly, and state and local leaders signed historic legislation delivering commonsense, meaningful tort reform.

The legislative package, signed into law by the Governor, levels the playing field in our courtrooms, bans hostile foreign powers from taking advantage of consumers and legal proceedings, aims to stabilize insurance costs for businesses and consumers, increases transparency and fairness, and ensures Georgia continues to be the best place to live, work, and raise a family.

“Today is a victory for the people of our state who for too long were suffering the impacts of an out-of-balance legal environment,” said Governor Brian Kemp. “While there was great passion on all sides of this issue, I am grateful for the diligent work of Commissioner John King and his office in studying this issue, the leadership of Lieutenant Governor Burt Jones and Speaker Jon Burns, the unrelenting work of Senate President Pro Tempore John F. Kennedy and House Majority Whip James Burchett, as well as Chairmen Brian Strickland and Rob Leverett for leading a thorough review, and the thoughtful deliberation of our legislative partners in the General Assembly. As a result of this collective effort and outpouring of support from Georgians of all backgrounds, Georgia continues to move in the right direction as we work to stabilize costs and compete for economic opportunities that will create good paying jobs for hardworking Georgians across our state.”

“My position on this important issue has not changed – these are not anti-lawyer or pro-insurance bills, these are pro-Georgia bills,” said Lt. Governor Burt Jones. “From the extensive debate we saw on this issue, it is clear that the environment we are in right now is not playing well consistently and something had to change to level the playing field. I want to thank Governor Brian Kemp and his entire team for making these measures a top priority. These bills ensure that we put Georgia families and consumers first by tackling the hidden costs we have all been paying thanks to Georgia’s current tort laws. These much-needed reforms, which I was proud to support, strike a balance by stabilizing insurance costs for businesses and consumers, while increasing transparency and fairness for all Georgia citizens.”

“Today was certainly a great day to be a Georgian as Governor Kemp signed into law the most comprehensive lawsuit reform legislation our state has seen in nearly two decades,” said House Speaker Jon Burns. “The House was proud to support these measures that return much-needed balance to our state’s courtrooms and deliver financial relief to Georgia’s citizens and businesses facing skyrocketing insurance premiums—all while ensuring we protect the rights of Georgians with legitimate claims.”

“Getting lawsuit reform across the finish line took all of us coming together to deliver this win for Georgia,” said President Pro Tempore Kennedy. “Georgians deserve a balanced civil justice system, not one that incentivizes frivolous lawsuits, leading to higher insurance premiums that burden small businesses, job creators, healthcare providers, and families. I am grateful to Governor Kemp for his trust in me as the Bill Sponsor and his unwavering leadership to get these meaningful pieces of legislation across the finish line.“

“With today’s signing of these important bills by the Governor we bring balance to Georgias civil justice system,” said House Majority Whip Burchett I’m proud of the work of the General Assembly to protect Georgia’s small businesses and job creators from frivolous lawsuits while ensuring that Georgians that are injured are still able to recover for their claims.”

“Georgians have been footing the bill of a legal system that has gone unchecked for far too long,” said Commissioner John King. “By enacting these reforms, we are giving breathing room to consumers and small businesses in every community across our state, while protecting the rights of those are truly hurt. Our achievements today would not have been possible without the steadfast leadership and hard work of Governor Kemp, Lieutenant Governor Jones, Speaker Burns, and members of the General Assembly. Their tireless commitment to meaningful reform has brought long-overdue accountability to a broken system.”

Below are the specific policy areas addressed by the legislation:
- Reevaluates the Standard for Negligent Security Liability (“Premises Liability”): Ensures businesses are only liable for what they directly control. The legislation holds property owners accountable when they fail to keep their property safe for their customers and the public, but protects establishments for simply opening their doors and employing hardworking Georgians in communities and neighborhoods that need them.
- Truthful Calculation of Medical Damages in Personal Injury Cases (“Truth-in-Damages”): Ensures Georgians injured by negligent actions are made whole and have their costs covered, while protecting consumers from inflated costs being passed on to them. The legislation permits counsel in a jury trial to submit evidence of the medical bills charged by providers, as well as the evidence of what was actually paid by an insurer to satisfy those charges. Jurors may then determine the reasonable value of the plaintiff’s past medical care with full transparency into the billed and paid value of their treatment.
- Eliminates the Ability to Arbitrarily Anchor Pain and Suffering Damages to a Jury (“Anchoring”): The new law stops the use of anchoring tactics when presenting damages for pain and suffering to a jury during the closing arguments of a trial. The bill instructs that closing arguments describing damages must be related to actual evidence of the plaintiff’s pain and suffering, which prevents counsel from using an artificial benchmark–like a professional athlete’s salary, the cost of fighter jets, or the number of miles driven by a truck—to describe what a plaintiff should be owed for their injuries.
  - This bill does NOT place a cap on the amount of money a jury may award. In fact, the Governor’s legislation protects the jury’s decision making from irrelevant and improper arguments from counsel – empowering the jury to decide an award amount based on real evidence in the case.
- Bifurcated Trials: Permits a party in a case to move for bifurcation of the trial, so that the defendant is found liable before the jury hears evidence detailing the extent of the plaintiff’s damages. This clarifies important procedure in the courtroom and gives both sides of a case the same opportunity to have their arguments heard.
- Allows a Jury to Know Whether the Plaintiff Wore Their Seatbelt (“Admissible Seatbelt Evidence”): Removes the current exclusion from the evidence code that prevents the defendant from showing evidence the plaintiff was not wearing his or her seatbelt in an auto accident. Allowing admission of seatbelt evidence at trial may be used by the defense to mitigate damages, particularly where the plaintiff’s failure to use this essential safety feature results in significantly worse injuries for the plaintiff.
- Eliminates Double Recovery of Attorney’s Fees: Closes an misused loophole that allowed plaintiff’s counsel to recover their fees twice for the same lawsuit. Courts will remain able to award attorney fees—but only once.
- Eliminates Voluntary Dismissal During Trial: Amends the timeline for voluntary dismissals – putting an end to the practice of plaintiffs dismissing a case just to refile or “cherry pick” a more favorable jurisdiction after the defense has already racked up the cost of preparing and beginning the trial.
- Motion to Dismiss Timing Changes: Changes the Georgia Civil Practice Act to allow a defendant to file a motion to dismiss in lieu of an answer – cutting down unnecessary discovery expenses while a motion to dismiss is pending.
- Reforming and Bringing Transparency to Third Party Litigation Funding:
  - First, the legislation bans hostile foreign adversaries from using our judicial system to undermine our vital security and economic interests – protecting Georgia businesses and consumers from foreign actors who may fund litigation to obtain trade secrets or advance their own political interests against the interests of the citizens of this state.
  - Second, the legislation protects consumers from predatory lenders that want to take advantage of litigants in vulnerable situations by prohibiting litigation funders from having any input into the litigation strategy or from taking the plaintiff’s whole recovery and making sure plaintiffs are aware of their rights.
  - Third, the bill increases transparency for all parties—the courts, opposing litigants, and the plaintiffs themselves.
MIL OSI USA News –
April 22, 2025

Date:	Thursday, May 8, 2025
Time:	8:00 a.m. ET
United States/Canada Toll Free:	1-877-407-0789
International Toll:	+1-201-689-8562

Category: Economy

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