NewzIntel.com

Category: Finance

  • MIL-OSI USA: ICE and Mount Pleasant Police arrest childcare worker, seeks public’s help to identify victims

    Source: US Immigration and Customs Enforcement

    CHARLESTON, S.C. — U.S. Immigration and Customs Enforcement in partnership with the Mount Pleasant Police Department, are seeking the public’s help to identify possible victims in an ongoing child sexual exploitation investigation involving a low country man who worked at a local daycare before becoming a private babysitter in Sullivans Island, Moncks Corner, and Mount Pleasant.

    On Feb. 19, ICE and the MPPD arrested Brandon Brill on child exploitation charges after local law enforcement initiated an investigation into a minor being extorted for child sexual abuse material images. This criminal act is commonly referred to as Sextortion. Brill had been employed as a private babysitter since at least 2021 and worked at a local daycare in 2022. Between 2023 and 2025, Brill had advertised his babysitting services on Facebook and Nanny Lane for the low country area.

    Due to his online sextortion activity and employment, authorities with the two agencies are seeking information that may help identify potential victims Brill may have engaged or exploited. If your child, or a child you know, was in contact with Brandon Brill, please contact the tip line.

    ICE encourages the public to report suspected child predators, sextortion activity related to minors, and any suspicious activity through its toll-free tip line at 866-DHS-2-ICE (866-347-2423) or by completing its online tip form. Both are staffed around the clock. From outside the United States and Canada, dial 802-872-6199. Hearing impaired users may call TTY 802-872-6196. Please mention your tip is related to this press release.

    ICE Homeland Security Investigations takes a victim-centered approach to child exploitation investigations by working to identify, rescue and stabilize victims. ICE works in partnership with the National Center for Missing and Exploited Children, ICAC partners and other federal, state and local agencies to help solve cases and rescue sexually exploited children. You can report suspected child sexual exploitation or missing children to the National Center for Missing and Exploited Children’s toll-free, 24-hour hotline at 800-THE-LOST.

    MIL OSI USA News –

  • MIL-OSI USA: SCHUYLKILL COUNTY – Governor Shapiro to Visit Child Care Center to Highlight Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services

    Source: US State of Pennsylvania

    February 25, 2025 – Pottsville, PA

    ADVISORY – SCHUYLKILL COUNTY – Governor Shapiro to Visit Child Care Center to Highlight Proposed Investments to Recruit and Retain Child Care Workers, Expand Access to Quality Services

    Governor Josh Shapiro will visit The Perception Training Center to talk about the major investments in workforce development in his 2025-26 Budget Proposal and his plans for expanding Pennsylvania’s child care workforce and making child care more affordable.

    During his first two years in office, Governor Shapiro signed into law a historic expansion of the Child and Dependent Care Enhancement Tax Credit and created a new tax credit for businesses who want to contribute to their employees’ child care costs. Those two initiatives helped make child care more affordable – and the Governor’s proposal this year would make child care more available through an investment of $55 million to support child care workforce recruitment and retention grants.

    WHO:
    Governor Josh Shapiro
    Senator David Argall
    Representative Tim Twardzik
    Michelle Dallago, Owner and Executive Director of Perception Early Learning, Inc.
    Bob Carl, President and CEO of the Schuylkill Chamber of Commerce
    Meridith Driscoll, Parent

    WHEN:
    TOMORROW, Tuesday, February 25, 2025 at 10:15AM

    WHERE:
    The Perception Training Center, Inc.
    1265 Laurel Boulevard,
    Pottsville, PA 17901

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News –

  • MIL-OSI: Apollo Announces 2025 Annual Meeting of Stockholders

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that its 2025 Annual Meeting of Stockholders will be held virtually on June 6, 2025, at 9:30 am ET. The record date for the meeting is April 14, 2025. Information on the virtual meeting will be included in the 2025 proxy statement.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    Apollo Forward-Looking Statements

    This press release may contain forward-looking statements that are 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. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, liquidity and capital resources and the other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “will,” “should,” “could,” or “may,” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. These statements are subject to certain risks, uncertainties and assumptions, including but not limited to those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (“SEC”) on February 24, 2025, as such factors may be updated from time to time in Apollo’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Apollo’s filings with the SEC. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

    Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI USA: ICE worksite enforcement operation results in the arrest of three illegal aliens

    Source: US Immigration and Customs Enforcement

    KENNETT SQUARE, Pa – U.S. Immigration and Customs Enforcement, working with the Drug Enforcement Administration and the Bureau of Alcohol, Tobacco, Firearms and Explosives, conducted a worksite enforcement operation at Chavos Tires in Kennett Square, Pennsylvania, Feb. 21. Three employees, who are illegal aliens unlawfully present in the United States were encountered, interviewed, and subsequently arrested for administrative immigration violations and detained pending removal. One of those arrested has a criminal history of driving under the influence and assault.

    “The worksite enforcement operation at Chavos Tires is a prime example of our commitment to upholding the laws established by the Immigration Reform and Control Act of 1986. By ensuring employers hire legally verified employees, we help protect jobs for U.S. citizens and lawfully employed individuals, eliminate unfair competitive advantages, and strengthen public safety and national security,” said ICE Homeland Security Investigations Philadelphia Special Agent in Charge Edward V. Owens. “The arrest of three individuals unlawfully present in the United States, underscores the importance of our ongoing efforts to promote compliance with U.S. employment laws and deter illegal employment practices.”

    This investigation began after ICE received information the business was hiring illegal aliens and could be involved with labor exploitation. The investigation into the business operations is ongoing.

    Under federal law, employers are required to verify the identity and employment eligibility of all individuals they hire, and to document that information using the Employment Eligibility Verification Form I-9. ICE uses the I-9 inspection program to promote compliance with the law, part of a comprehensive strategy to address and deter illegal employment. Inspections are one of the most powerful tools the federal government uses to ensure that businesses are complying with U.S. employment laws.

    ICE’s worksite enforcement strategy includes leveraging the agency’s other investigative disciplines, since worksite investigations can often involve additional criminal activity, such as alien smuggling, human trafficking, money laundering, document fraud, worker exploitation and/or substandard wage and working conditions.

    ICE uses a three-pronged approach to worksite enforcement: compliance, from I-9 inspections, civil fines and referrals for debarment; enforcement, through the criminal arrest of employers and administrative arrest of unauthorized workers.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Administrator Loeffler Issues Memo on Day One Priorities

    Source: United States Small Business Administration

    WASHINGTON — Following her confirmation and swearing-in as the 28th Administrator of the U.S. Small Business Administration, Kelly Loeffler issued a Day One memo outlining her top priorities for the agency.

    “Small businesses are the backbone of our nation, driving innovation, job creation, and prosperity – and there’s no stronger advocate for small business than President Trump or myself. But over the last four years, the SBA has burdened entrepreneurs with bureaucracy – with its programs becoming mired in fraud, waste, and abuse,” SBA Administrator Loeffler said. “That changes today. My first priority is rebuilding the SBA into an America First engine for free enterprise – by empowering small businesses and fueling economic growth.

    “From day one, we will uphold the highest standards of accountability, performance, and integrity, where taxpayer dollars will be safeguarded, not squandered. We will streamline operations, drive efficiency, and ensure programs deliver real results. It’s a new day at the SBA, and I’m honored to lead a team that is committed to serving America’s job creators and citizens when disaster strikes.”

    The following priorities have been distributed to all SBA staff as the agency prepares to carry out President Trump’s America First agenda and empower small businesses to thrive:

    Supporting President Trump’s America First Agenda

    1. Promoting “Made in America” with U.S. manufacturing: The vast majority of America’s manufacturers are small businesses, and SBA programs have powered tens of thousands of them. This agency is committed to supporting the America First agenda by rebuilding American supply chains and investing in manufacturing to strengthen our economy and national security. The agency will transform its Office of International Trade into the Office of Manufacturing and Trade – which will focus on promoting economic independence, job creation, and fair trade practices to power the next blue-collar boom. SBA will also partner across agencies to scale innovative manufacturing and technology startups that will help our nation return to “Made in America.”
    2. Implementing President Trump’s executive orders: SBA will enforce all of President Trump’s executive orders including Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government, Ending Radical and Wasteful Government DEI Programs and Preferencing and Unleashing American Energy. To date, SBA has already taken the following actions:
      • Eliminated the Office of Diversity, Equity, Inclusion, and Accessibility, placing DEIA employees on administrative leave.
      • Paused grants across the agency that do not comply with President Trump’s executive orders.
      • Paused the Green Lender Initiative to reverse the previous Administration’s favoritism for Green New Deal ventures that did not support America’s return to energy dominance.
    3. Supporting the Department of Government Efficiency: SBA will continue working closely with President Trump’s DOGE as the federal government moves into a new era of accountability, transparency, and efficiency. SBA will prioritize eliminating fraud and waste within the agency, to ensure American taxpayer dollars are utilized in the most productive way possible to benefit small businesses and economic growth and resilience.
    4. Mandating full-time, in-office work for SBA employees: Pursuant to President Trump’s Return to In-Person Work presidential memorandum, SBA will require all employees, unless exempt, to return to their respective duty stations five days a week as of today, Monday, Feb. 24, 2025.
    5. Prioritizing workforce optimization: As part of the broader effort to support President Trump’s workforce optimization initiatives, SBA will continue to evaluate workforce reduction measures, including the overhaul of all advisory boards, to ensure the agency is operating with maximum efficiency to deliver results for U.S. taxpayers, small businesses, and those affected by disaster.
    6. Cracking down on fraud: SBA’s loan programs should be a powerful tool for empowering small business formation and delivering critical aid to disaster victims. The prior Administration left these programs with unaddressed fraud – including an estimated $200 billion in pandemic-era fraud. Starting today, the SBA will institute a zero-tolerance policy for fraud and investigate fraud across all programs. The agency has established a Fraud Working Group and will appoint a Fraud Czar to identify, stop, and claw back criminally obtained funds on behalf of American taxpayers – working across agencies to prevent fraud.

    Eliminating Wasteful Spending and Cracking Down on Fraud

    1. Conducting an agency-wide financial audit: As fraud has risen, so too have delinquencies, defaults, and charge-offs on loan programs, exacerbated by the previous Administration’s lax loan underwriting, servicing, and collection efforts. As a result, SBA has not satisfactorily completed a financial audit for several consecutive years. Therefore, the agency will request an independent audit of its financials to address mismanagement, restore the credibility of financial statements, and preserve the solvency of public-private programs like the 7(a) lending program and the Small Business Investment Company program, which are designed to drive economic growth without taxpayer subsidy.
    2. Protecting the solvency of loan programs and restoring underwriting standards: Likewise, SBA will review all options to protect the solvency of its lending programs, including revising practices that have jeopardized the zero-subsidy status of programs like 7(a). The agency will also restart its dormant collections programs effective immediately. Furthermore, SBA will restore its underwriting standards, ensuring taxpayer dollars only go to supporting eligible small businesses across America – by conducting a full review of current lending SOPs, ending the “Do What You Do” standard for lending, and enhancing oversight of non-bank lenders.
    3. Banning illegal aliens from receiving SBA assistance: Programs funded by American citizens should only benefit American citizens. Consistent with President Trump’s Ending Taxpayer Subsidization of Open Borders executive order, the agency will implement a policy banning illegal aliens from receiving any taxpayer-funded assistance from SBA – putting U.S. citizens and America first.
    4. Restricting hostile foreign nationals from accessing SBA assistance: Similarly, in the interest of national security, the agency will implement measures to prevent hostile foreign nationals, especially those with ties to the Chinese Communist Party, from accessing SBA assistance.

    Empowering Small Businesses

    1. Creating a strike force to cut regulation: For the first time in years, SBA will fully staff and empower the Office of Advocacy to utilize its power to identify and eliminate burdensome regulations promulgated by all federal agencies, as authorized by the Regulatory Flexibility Act, Small Business Regulatory Enforcement Fairness Act of 1996, the Congressional Review Act, and other statutes. The Administrator will work alongside the Chief Counsel for Advocacy to cut past and future regulations across the board and partner with all federal agencies to ensure they are working to reduce bureaucracy and costs for job creators and promote successful business formation.
    2. Improving SBA customer service, technology, and cybersecurity: Respecting that small businesses must perform for their customers, the SBA must meet performance standards across our own operations. Working with DOGE, the SBA will review the agency’s multiple digital interfaces. To streamline and improve user experience across all platforms, the agency will also review its technology for cybersecurity, response times, and customer satisfaction – including by collaborating with the White House on the application of artificial intelligence.
    3. Promoting fair competition by returning 8(a) contracting goals to statutory levels: The previous Administration increased the 8(a) federal contracting goal for Small Disadvantaged Businesses to an all-time high of 15%. This action unfairly tipped the scales against any small business that did not qualify as “disadvantaged,” negatively impacting many veteran-owned small businesses. As part of a broader effort to support competition and equal access to federal contracting for all small business owners, SBA has returned the 8(a) SDB contracting goal to its statutory level of 5%.
    4. Relocating regional offices out of sanctuary cities: To better serve Main Streets across America, especially in rural areas, SBA will relocate regional offices currently based in sanctuary cities to less costly, more accessible locations in communities that comply with federal immigration law. Additionally, Administrator Loeffler commits to personally visiting SBA’s regional offices and district offices – to facilitate a continuous dialogue with small business owners and hear directly from local job creators about real-world challenges and opportunities to support growth and innovation.
    5. Ending partisan voter registration activities: The SBA will end all taxpayer-funded voter registration activities – starting by rescinding the agency’s 2024 Memorandum of Understanding with the Michigan Secretary of State’s office, which forced SBA district offices to conduct partisan voter registration on behalf of the previous Administration. Instead, the agency will return its focus to its founding mission of empowering job creators, delivering disaster relief, and driving economic growth.

    # # #

     

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI Security: Sumter Man Sentenced to Federal Prison for $2.8M Wire Fraud Scheme

    Source: Office of United States Attorneys

    COLUMBIA, S.C. — Daniel Criswell Lee, 55, of Sumter, has been sentenced to 33 months in federal prison for wire fraud. He was also ordered to pay $2.8 million in restitution.

    Evidence obtained in the investigation revealed that Lee worked as project manager for Agile Infrastructure Service, LLC. As project manager, Lee represented Agile in the bidding process to obtain government contracts. Once Agile was awarded a project, Lee diverted money paid by the government for work on the project to corporations under his control. Lee was then used the funds for his own benefit. The illegally obtained funds totaled at least $2.8 million.

    United States District Court Judge Sherri A. Lydon sentenced Lee to 33 months imprisonment, to be followed by a three-year term of court-ordered supervision. He was also ordered to pay $2.8 million in restitution. There is no parole in the federal system.

    This case was investigated by Department of the Army Criminal Investigation Division (DACID) and Department of Defense, Office of the Inspector General, Defense Criminal Investigative Service, Charleston Resident Agency. Assistant U.S. Attorney John Potterfield is prosecuting the case.

    ###

    MIL Security OSI –

  • MIL-OSI: Parker Scheduled to Present at Raymond James’ 46th Annual Institutional Investors Conference on March 3, 2025 at 11:35 a.m. Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    CLEVELAND, Feb. 24, 2025 (GLOBE NEWSWIRE) — Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it is scheduled to present at Raymond James’ 46th Annual Institutional Investors Conference on March 3, 2025 in Orlando, Florida at 11:35 a.m. Eastern time. A live webcast of the presentation will be accessible on Parker’s investor information website at investors.parker.com and will be archived on the site. 

    Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 68 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

    ###

    The MIL Network –

  • MIL-OSI Economics: African Development Bank and global public development banks to convene in Cape Town to advance climate resilience

    Source: African Development Bank Group

    WHAT:            Finance in Common Summit 2025

    WHEN:           February 26-28, 2025

    WHERE:         Cape Town, South Africa

    WHO:             The African Development Bank; senior leaders of 530 public development banks                                   representing 155 countries; global development and finance leaders

    The Fifth Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB) with the support of Agence Française de Développement (AFD), will take place this year in Cape Town, South Africa from 26-28 February. The African Development Bank is a sponsor for the event.

    The African Development Bank President Dr Akinwumi Adesina will lead a delegation to the summit which has the theme, Fostering Infrastructure and Finance for Fair and Sustainable Growth. The theme aligns with the objectives of South Africa’s presidency of the G20: Solidarity, Equity, Sustainability.

    Dubbed a “Summit of Solutions,” the event will bring together institutions that manage US$23 trillion in assets (10% of global investments) to address critical infrastructure needs in climate-vulnerable regions and advance financial innovation and sustainable development, focusing on Africa and developing Asian nations. It will focus on three critical pillars: inclusive finance to reduce inequality, digital transformation to bridge technological gaps, and climate-resilient infrastructure development, all aimed at creating a more equitable and sustainable world.

    The African Development Bank delegation also includes Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialization; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Hassatou Diop N’Sele, Vice President for Finance and Chief Financial Officer; Leila Farah Mokaddem, Director General for Southern Africa and Moono Mupotola, Deputy Director General for Southern Africa, who will be speaking at sessions across the three days.

    The Finance in Common Summit, launched in 2020, represents the world’s largest gathering of public development banks.

    To request media interviews with members of the Bank’s delegation, please email the contact below.

    Click here to register for the event and more information.

    Join the conversation: #FiCS2025 #SustainableFinance

    MIL OSI Economics –

  • MIL-OSI New Zealand: Smoother path for Great Rides

    Source: New Zealand Government

    Cycling our Great Rides is about to get a whole lot smoother, with a $9 million Government boost for infrastructure upgrades and replacements, Tourism and Hospitality Minister Louise Upston has announced.

    “Together, the 23 Great Rides receive about a million visitors a year, of whom around 20 per cent are international visitors,” Louise Upston says.

    “With those numbers expected to continue growing, maintaining and improving these trails is a must, so visitors can keep enjoying the unique experience of pedalling through New Zealand’s beautiful landscapes. 

    “We know some of the Great Rides trails need work so the first priority will be addressing issues such as improving design and resilience, making them better able to cope with rider numbers and extreme weather. 

    “I’m excited to announce this investment and am looking forward to seeing local communities welcome more visitors to experience everything they have to offer. 

    “This initiative builds on the Government’s commitment to tourism. The sector is a crucial part of our focus on economic growth, with domestic and international tourism expenditure at almost $38 billion and supporting nearly 200,000 jobs.

    “Already this month we’ve announced: 

    • $500,000 for marketing New Zealand as the ‘go now’ destination for Australians
    • $30 million to support conservation tourism
    • $3 million for regional tourism initiatives. 

    “Investment in tourism has overwhelming support from Kiwis – 93 per cent of New Zealanders surveyed last year agreed that tourism is good for the country. 

    “This is a year of opportunity.  2025 is our chance to reinforce the value of tourism to a humming, vibrant country, where we welcome anyone, from anywhere, anytime,” Louise Upston says. 

    Today’s announcement came in Queenstown, where Minister Upston attended the opening of the Hugo Tunnel on the separately funded Shotover Gorge Trail. Once opened, this trail will link Frankton to Arthurs Point to provide a spectacular off-road journey along the Shotover River.

    The two years of funding is available through the Ngā Haerenga New Zealand Cycle Trail Fund and applications open on 31 March. 

    This is a contestable funding round and applicants will be expected to fund 25-50 per cent of the total project cost. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: Hickenlooper, Bennet, Colleagues Reintroduce Bill to Combat Wildfires, Drought Across the West

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper
    Protect the West Act would invest $60 billion to reduce wildfire risks, restore watersheds, and protect communities
    WASHINGTON – Today, U.S. Senators John Hickenlooper, Michael Bennet, Ron Wyden, Ruben Gallego, and Jacky Rosen reintroduced the Protect the West Act, which invests $60 billion in forests across the West to reduce wildfire risk, restore watersheds, protect communities, and decrease the cost of fighting wildfires.
    “Colorado’s forests, grasslands, and waterways are the bedrock of our outdoor economy,” said Hickenlooper. “Every effort we make to prevent wildfires and mitigate the impact of climate change is an investment in Colorado’s future.”
    “In the West, our forests, grasslands, and watersheds are essential to our economy and way of life. But they are under threat from the worsening effects of climate change and consistent underinvestment from the federal government,” said Bennet. “As we face a 1,200-year megadrought and wildfire season that never seems to end, we need to break from the status quo and invest in the restoration of our forests and public lands to meet this challenge. We have no time to waste.”
    “Climate change is threatening our way of life in Colorado. We must act,” said Crow. “The Protect the West Act would help combat intensifying wildfires and help better protect Colorado communities.”
    “With summers getting dryer and hotter, the West and Oregon’s treasured lands are a tinderbox waiting to light ablaze,” said Wyden. “In my town halls, I’ve heard countless Oregonians fearing for their health and safety while struggling to maintain their economic livelihood as severe drought and wildfires wreak more havoc on their communities every year. More investments are needed to protect our forests and watersheds so local communities across the West are healthy and can have the opportunity to explore its beautiful natural treasures for generations.”
    “In Arizona and across the West, we face a rapidly growing backlog of projects for wildfire mitigation, drought resilience, and land restoration,” said Gallego. “I’m proud to help introduce the Protect the West Act which will finally give states and tribes the tools they need to take on these projects, all while creating good-paying jobs and boosting rural economies.”
    “Nevada’s forests and public lands are increasingly susceptible to wildfires, drought, and other extreme weather events. We need to do everything we can to protect our communities from the damage caused by these disasters and bolster our ability to recover,” said Rosen. “This critical legislation will support Nevada’s wildfire mitigation and restoration efforts, helping to keep Nevadans safe. I’ll always work to ensure Nevada has the resources it needs to fight wildfires and other weather-related events.”
    In the West, our strong outdoor rec industry and our agricultural communities depend on healthy lands, forests, and waterways. Increasingly frequent wildfires threaten those communities and our economy.
    Currently, the federal government spends approximately $2.9 billion to fight wildfires every year, with costs expected to increase by a billion by 2050. Already, the U.S. spent nearly $48 billion fighting wildfires over the last five years.
    Preventing wildfires before they even start is thirty times more cost-effective. Investing in fire mitigation and making our communities more resilient will save taxpayers money by reducing response and recovery costs.
    Specifically, the Protect the West Act would:
    Establish an Outdoor Restoration & Watershed Fund to better support local efforts to restore forests and watersheds, reduce wildfire risk, clean up public lands, enhance wildlife habitat, remove invasive species, and expand outdoor access
    Establish an advisory council of local, industry, conservation, Tribal, and national experts to advise funding priorities, coordinate with existing regional efforts, and provide oversight
    Empower local leaders by making $20 billion directly available to state and local governments, Tribes, special districts, and nonprofits to support restoration, drought resilience, and fire mitigation projects
    Partner with states and Tribes to invest $40 billion to tackle the backlog of restoration, fire mitigation, and resilience projects
    Create or sustain over two million good-paying jobs, primarily in rural areas, to support existing industries like forest product, agriculture, and outdoor recreation
    Save landowners and local governments money by investing in wildfire prevention and natural hazard mitigation.
    “The Protect the West Act is a significant investment in Colorado’s natural resources and Colorado is proud to support its reintroduction in the US Senate,” said Dan Gibbs, Executive Director, Colorado State Department of Natural Resources. “As Colorado experiences drought and continued threats from devastating wildfires, now is the time to invest in Colorado’s forests, watersheds, and landscapes that drive economic activity across the west, employ thousands of Americans, and provide environmental and ecological benefits to our communities and wildlife.”
    “One of the greatest threats to our Tribal lands are the devastating wildfires caused by the extreme drought conditions in the western United States,”said the Southern Ute Indian Tribe. “Sen. Bennet’s Protect the West Act will provide much needed investment in conservation, restoration and wildfire mitigation. A key component of this legislation is Sen. Bennet’s recognition of the importance that Tribes have in land use and regulation, assuring that funds will be made available directly to Tribes for maintenance of our forests, watersheds and rangeland. Moreover, he assures that Tribes will have a seat at the table in determining the distribution of funds, ensuring that there will be a tribal representative working alongside our state and federal partners on the Restoration Fund Advisory Council. We thank Sen. Bennet for introduction of this important legislation and look forward to its swift passage in Congress.”
    “Healthy watersheds face numerous challenges, including increasing drought, longer and hotter fire seasons, disconnected watersheds and degraded streams that no longer support healthy fisheries. The most effective way to tackle this challenge is through partnerships and collaborative conservation at the landscape scale,” said Chris Wood, President and CEO of Trout Unlimited. “The Protect the West Act would foster collaboration and provide resources for public-private partnerships to restore lands and waters across multiple jurisdictions, creating jobs and better fishing along the way. We thank Senator Bennet for his leadership and vision to restore our lands and waters at the scope and scale that will make a difference for future generations.”
    “The Colorado River District’s highest priority is to protect the water security of Western Colorado. Water security starts with our forests,” said Andy Mueller, General Manager, Colorado River District. “Our largest source of water is the snowpack that develops in our forests above 9,000 feet in elevation, mostly on federal lands. Sen. Michael Bennet’s $60 billion Protect the West Act proposal is a direct water security initiative through the funding of proactive watershed protection actions. These actions would help prevent catastrophic fires and start restoration work where warming temperatures and fires have already done harm. It’s noteworthy that $20 billion will be available to fund projects generated at the state and local levels. We applaud Senator Bennet for advocating for important western priorities in the Senate.”
     “I support the Senator’s Protect the West Act. This is a great first step in recognizing and acknowledging the problem that was created over 30 years ago,” said Merrit Linke, Grand County Commissioner. “The lack of proactive management and the ‘hands-off’ approach is now clearly having devastating effects on our communities, forest health and sustainable watersheds. This bill addresses this problem, provides much needed funding, and hopefully is the beginning of a new era in resource management. Now it is time to get to work.”
     “As Western communities continue to face the threats and the impacts of the climate crisis, now is the time to pursue initiatives that will help us become more resilient,” said Jon Goldin-Dubois, President of Western Resource Advocates. “The Protect the West Act will provide critical resources to help Western states mitigate wildfire, restore forests, improve air and water quality, and advance equity, all while pumping billions of dollars into local economies and supporting millions of good-paying jobs; it’s a true win-win. We applaud Senator Bennet for his leadership and look forward to supporting this legislation to build a more resilient West.”
    “Healthy forests support fish and wildlife habitat and outdoor access important to hunters, anglers, and recreationists in Colorado and across the nation,” said Joel Pedersen, CEO, Theodore Roosevelt Conservation Partnership. “However, decades of inadequate funding for forest management have placed a strain on the National Forest System that will require active management and sustained funding to increase workforce capacity. Further, these investments will help to ensure we’re better prepared to address the growing risks associated with wildfire.  The TRCP applauds the proactive investments in our forests and watersheds and the additional resources for growing the forest management workforce provided through the Protect the West Act.”
    The bill is supported by: The National Wildlife Federation, the Southern Ute Indian Tribe, National Association of State Foresters, The Freshwater Trust, American Forests, National Wild Turkey Federation, National Audubon Society, Family Farm Alliance, Theodore Roosevelt Conservation Partnership, Western Landowners Alliance, Western Resource Advocates, Trout Unlimited, and Conservation Legacy.
    U.S. Representative Jason Crow introduced companion legislation in the House.
    The full text of the bill is available HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Colleagues Urge Secretary Rubio To Restore Critical Global Health Programs To Keep Americans Safe

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Foreign Relations Committee, and Richard Blumenthal (D-Conn.) joined 19 of their Senate colleagues in sending a letter to U.S. Secretary of State Marco Rubio urging him to restore funding for global health, development, and humanitarian programs. In the wake of the Trump administration’s abrupt termination of key foreign assistance programs and personnel without review, the senators highlight the national security imperatives of U.S. global health efforts, which keep Americans safe, strengthen U.S. leadership, and increase global stability.

    “The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill,” the senators wrote.  

    Without American global health programs, current outbreaks of infectious diseases like Ebola, Marburg Virus, and Bird Flu have the potential for spreading to U.S. soil. According to the Centers for Disease Control and Prevention (CDC), an infectious disease can spread from a remote village to a major city in the United States in as little as 36 hours. Additionally, the foreign assistance funding freeze has stopped critical Malaria interventions before peak transmission and paused many clinical trials and data collection endeavors that require continuous data collection. As a result, product development for desperately needed drugs and vaccines have been brought to a halt. 

    “The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach,” they continued.

    The senators warned Secretary Rubio that Russian leaders have publicly praised the decision to dismantle USAID, an agency that helps counter China’s efforts to expand its Belt and Road Initiative in Africa and Latin America. Additionally, China is already stepping in to fill the vacuum left by the United States at the World Health Organization.  

    “We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs… Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home,” the senators concluded.

    U.S. Senators Cory Booker (D-N.J.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Chris Coons (D-Del.), Martin Heinrich (D-N.M.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below:

    Dear Secretary Rubio,

    At a time when the world faces increasing instability—from disease outbreaks, to violent conflicts, to economic crises—U.S. investments in global health, development, and humanitarian aid are more than acts of goodwill; they are strategic imperatives contributing to our strength, security, and prosperity. Without strong and sustained U.S. leadership, American lives and economic stability is at risk.

    The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill.

    The freeze on global health activities is particularly troubling. There is resounding evidence that global health programs protect Americans. Recent history has shown that infectious disease outbreaks in distant regions can quickly reach U.S. soil, causing devastation to lives and livelihoods. According to the Centers for Disease Control and Prevention, a disease can spread from a remote village to a major city– including in the United States– in as little 36 hours. Such deadly diseases continue to emerge in countries which need assistance to respond. Consider the following examples:

    1. Ebola: Uganda is currently experiencing a deadly outbreak of Sudan Ebola virus in its capital city of Kampala, with a population of 1.9 million people. Suspected cases have also been reported in the Democratic Republic of the Congo. USAID and the Centers for Disease Control and Prevention (CDC) global health programs are critical to helping countries control and manage these outbreaks. The 2014-2016 West African Ebola outbreak spread beyond the region, with cases reaching the U.S. and Europe. American led investments in global health systems helped contain the crisis, prevented further transmission and strengthened global preparedness. Just within the last four years, USAID and CDC frontline health responders played critical roles in halting 11 similar outbreaks, but we are unaware of any USAID personnel having been deployed to Kampala to specifically respond to the outbreak. The Trump Administration’s retreat from these investments has left the world—and the U.S.—more vulnerable to future outbreaks.
    2. Marburg Virus: Tanzania recently confirmed an outbreak of Marburg virus—an illness as deadly as Ebola, but with less treatment and vaccine options. This deadly outbreak has highlighted the urgent need for disease surveillance and rapid response. The U.S. has long been a leader in these efforts, but the freeze on USAID has hindered our ability to detect and contain these threats before they become global crises.
    3. Malaria: While malaria may seem like a distant problem, it deeply affects regions where the U.S. has significant interests. The next few weeks, just before peak transmission, are critical for malaria prevention campaigns. Malaria is preventable, but if this particular window is missed, lives will be lost, most of whom will likely be children. The President’s Malaria Initiative (PMI) has reduced cases and deaths worldwide, fostering healthier, more productive societies and reducing the risk of political instability and migration crises. The halt in U.S. funding threatens decades of progress. According to Malaria No More, halting PMI programs for 90 days would prevent the delivery of approximately: 9 million insecticide-treated bed nets; 25.3 million rapid diagnostic tests for malaria; 15.6 million life-saving antimalarial treatments; 48 million doses of seasonal malaria chemoprevention; and safe, effective indoor residual spraying for 3.8 million people.
    4. Bird Flu: Bird flu has already caused one death in the U.S. and is currently circulating throughout America’s livestock. With the foreign aid freeze, the monitoring of bird flu effectively ends in 49 countries, leaving the U.S. in the dark regarding a pressing threat should the virus evolve or mutate to start spreading more rapidly among humans.
    5. PEPFAR: Though the waiver for certain PEPFAR activities is slowly being implemented, critical prevention services remain paused. Without access to pre-exposure prophylaxis (PrEP) and other prevention services, HIV transmission will increase, risking an upsurge of the disease across partner countries and undermining the more than $100 billion in U.S. investment contributed toward the HIV response to date.

    In addition, the foreign assistance funding freeze has paused many clinical trials and data collection endeavors that require continuous data collection. This will significantly delay the product development timelines for desperately needed drugs and vaccines. Clinical trials are now hanging on by a thread and will have to shut down soon if the pause is not lifted. This risks the health of the trial participants around the world and the lives in the U.S. and globally that could be saved thanks to the results of these trials. Furthermore, U.S. global health programs that treat, monitor, and prevent the spread of HIV/AIDS, Tuberculosis, Polio, and other infectious diseases are all vital to saving lives and keeping Americans safe.

    The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach. Already, Russian leaders have publicly applauded the decision to dismantle USAID, an agency that is also uniquely positioned to forestall China’s expansion of its Belt and Road Initiative in Africa and Latin America. China is already trying to fill the vacuum left by the United States at the World Health Organization when President Trump issued his intent to withdraw. Investing in foreign assistance, including global health and development programs, strengthens our alliances, promotes stability, and reduces the need for costly emergency interventions and military engagements.

    We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs. Nearly all USAID staff and critical implementing partners have been eliminated and payment systems are not functioning for the vast majority of implementers, rendering the waiver process irrelevant. Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home. Sincerely,

    MIL OSI USA News –

  • MIL-OSI: Skyline Bankshares, Inc. Announces Appointment of Director

    Source: GlobeNewswire (MIL-OSI)

    FLOYD, Va. and INDEPENDENCE, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”), announces the appointment of Israel O’Quinn as a director of the Company and the Bank effective immediately. The Company’s Board of Directors approved the appointment on February 18, 2025.

    Mr. O’Quinn is President and CEO of The United Company Foundation as well as the James W. and Francis G. McGlothlin Foundation.  He has also served as an elected member of the Virginia House of Delegates since 2011.  For almost all of his tenure in the House of Delegates, Mr. O’Quinn has been a member of the Commerce and Energy committee, among others, which has provided him an in-depth knowledge of the laws and regulations related to banking and other businesses.  Before his current role leading the two charitable foundations, Mr. O’Quinn was a key executive at KVAT Food Stores (Food City) for seventeen years, serving in roles of increasing responsibility across the organization, including strategy, regulatory issues and community relations.  Born and raised in Southwest Virginia, and having represented the area for over a decade in the legislature, he is well-versed in the needs and opportunities of the region.  Mr. O’Quinn is a member of the Emory & Henry University Board of Trustees and he earned Bachelors Degrees in Political Science and History from the college.  In addition to his legislative and professional work, Mr. O’Quinn has served on a number of other boards and commissions, including as Chairman of the Bristol Chamber of Commerce, and provided leadership to economic development projects as Co-Chair of InvestSWVA. 

    President and CEO Blake Edwards stated, “Israel’s professional experience, service in the legislature, and in-depth knowledge of the region, will make him a tremendous addition to Skyline as we continue to expand our presence in the southwest Virginia and eastern Tennessee markets. We are excited to welcome Israel to the Skyline family.”

    Skyline National Bank is the wholly-owned subsidiary of Skyline Bankshares, Inc. and serves southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

    For more information contact:
    Blake Edwards, President & CEO – 276-773-2811
    Lori Vaught, EVP & CFO – 276-773-2811

    The MIL Network –

  • MIL-OSI: Xtract One Announces Fiscal 2025 Second Quarter Conference Call

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced that it will release fiscal 2025 second quarter results after the close of trading on March 12, 2025. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will host a webcast and conference call at 10:00 a.m. Eastern Time the following day, March 13, 2025, to review the three months ended January 31, 2025.

    The webcast and presentation will be accessible on the company’s website, and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers). Management will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.

    About Xtract One Technologies
    Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn. 

    About Threat Detection and Security Solutions
    Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.

    For further information, please contact:
    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com    
    Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
    Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

    The MIL Network –

  • MIL-OSI Security: Owner of Old Dutch Mustard Co. Pleads Guilty to Violating the Clean Water Act by Polluting the Souhegan River

    Source: Office of United States Attorneys

    CONCORD – A New York man and Old Dutch Mustard Co., a mustard and vinegar manufacturing company, pleaded guilty in federal court to knowingly discharging acidic water into the Souhegan River, Acting U.S. Attorney Jay McCormack and Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division announce.

    Charles Santich, 59, of New York, and Old Dutch Mustard Co., Inc., d/b/a Pilgrim Foods, Inc. (“Old Dutch Mustard”) pleaded guilty to knowing discharging a pollutant without a permit. U.S. District Court Judge Landya McCafferty scheduled sentencing for June 23, 2025.

    The Clean Water Act “CWA” prohibits the discharge of any pollutant into navigable waters of the United States without a National Pollutant Discharge Elimination System permit. Due to a long history of CWA non-compliance dating back to the 1980s, Old Dutch Mustard has been subject to several enforcement actions by the EPA, the New Hampshire Department of Environmental Services (“NH DES”), and the New Hampshire Attorney General’s Office. As a result of these actions, EPA and NH DES have required continuous monitoring of an Unnamed Brook that flows underneath and in front of the facility, eventually flowing into the Souhegan River. The Souhegan River is one of nineteen New Hampshire rivers that the State of New Hampshire has designated as an important natural resource.

    Charles Santich is the president and owner of Old Dutch Mustard, a New York corporation with a manufacturing facility in Greenville, New Hampshire. Old Dutch Mustard manufactures vinegar and mustard products, which generates acidic wastewater. In addition, stormwater flows through the property, including an outdoor area where the company stores their product in large tanks. Both the wastewater and stormwater at Old Dutch Mustard becomes acidic and is categorized as a pollutant under the CWA, and Old Dutch Mustard did not have the necessary permit to discharge the acidic wastewater or stormwater into the environment. Instead, Old Dutch was required to store the polluted water in tanks and pay a trucking company to haul all the wastewater off-site to a publicly owned treatment plant.

    Beginning in the spring of 2015, Santich hired an excavation company to bury a pipe from the Old Dutch Mustard facility to discharge the acidic wastewater and stormwater in the general direction of the Souhegan River along an abandoned railroad bed. This discharge point was downstream of, and not detectible by, the continuous environmental monitoring required by the EPA and State of New Hampshire.

    Santich directed Old Dutch Mustard employees to repeatedly pump acidic wastewater and stormwater through the underground pipe to the abandoned railroad bed. Santich also directed employees not to tell anyone about the pipe.

    In May of 2023, state inspectors from NH DES discovered wastewater from the facility, with low pH and smelling of vinegar, flowing from a manmade ditch at the top of the hill on the Old Dutch Mustard property into the Souhegan River. In August 2023, EPA agents executed a search warrant at the Old Dutch Mustard facility and observed liquid that smelled like vinegar discharging from the end of the underground pipe into the ditch. The wastewater discharge had a low pH of 3.6. The agents then conducted a dye test. The dye discharged from the underground pipe at the top of the hill and flowed along the drainage ditch and down to the river.

    EPA’s Criminal Investigation Division investigated this case. Valuable assistance was provided by the New Hampshire Department of Environmental Services and the New Hampshire Attorney General’s Office. Assistant U.S. Attorney Matthew T. Hunter and Trial Attorney Ronald A. Sarachan of the Environment and Natural Resources Division are prosecuting the case with the assistance of EPA Senior Regional Criminal Enforcement Counsel Dianne G. Chabot.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Silver Spring Man Indicted for Producing and Possessing Child Sexual Abuse Material

    Source: Office of United States Attorneys

    Greenbelt, Maryland – A federal grand jury indicted David Alain Schmidt, 43, of Silver Spring, Maryland, charging him with producing and possessing child sexual abuse material.

    Phil Selden, Acting U.S. Attorney for the District of Maryland, announced the indictment with Special Agent in Charge Michael McCarthy, Homeland Security Investigations (HSI) Baltimore, and Chief Marc R. Yamada, Montgomery County Police Department.

    According to the indictment, in October 2024, Schmidt enticed a minor to produce child sexual abuse material and he also possessed sexually explicit images of a minor victim.

    If convicted, Schmidt faces a mandatory minimum sentence of 15 years in federal prison for producing child sexual abuse material and a maximum of 10 years in federal prison for possessing child sexual abuse material.  Actual sentences for federal crimes are typically less than the maximum penalties.  A federal district court judge determines sentencing after considering the U.S. Sentencing Guidelines and other statutory factors. 

    An indictment is not a finding of guilt.  Individuals charged by indictment are presumed innocent until proven guilty at a later criminal proceeding.

    Acting U.S. Attorney Selden commended HSI and the Montgomery County Police Department for their work in the investigation.  Mr. Selden also thanked Assistant U.S. Attorney Megan S. McKoy who is prosecuting the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse.  Led by the U.S. Attorney’s Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue victims.  For more information about Project Safe Childhood, visit www.justice.gov/psc.  Learn about Internet safety education by clicking on the “Resources” tab on the left side of the page. 

    Know2Protect is a Department of Homeland Security national public awareness campaign to educate and empower children, teens, parents, trusted adults and policymakers to prevent and combat online child sexual exploitation and abuse; explain how to report online enticement and victimization; and offer resources for victims and survivors and their supporters.  Learn more about Know2Protect at www.dhs.gov/know2protect.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit https://www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Previously Deported Mexican National with Prior Convictions Arrested for Illegally Possessing a Firearm

    Source: Office of United States Attorneys

    SAN ANTONIO – A Mexican national was arrested in San Antonio on criminal charges related to his alleged illegal possession of a firearm.

    According to court documents, Sergio Lopez Rodriguez, 48, was arrested during a surveillance operation conducted by the Lone Star Fugitive Task Force (LSFTF) on Feb. 20. Federal law enforcement agencies had learned that Rodriguez was in the United States illegally and had previously been removed from the country in 2015. In addition to the deportation, Rodriguez was convicted of theft in 2009, of forgery in 2013, and also had been arrested and charged with unlawful possession of a firearm by a felon. A state arrest warrant was issued for Rodriguez on Jan. 28.

    A filed criminal complaint alleges that, on Feb. 20, LSFTF members surrounded Rodriguez’s vehicle while he was parked a gas station pump. During the arrest, officers allegedly located a handgun, a magazine and .40 caliber ammunition, along with a glass pipe, torch lighter and .9 grams of a crystal-like substance. The complaint also alleges that Rodriguez informed officers that he possessed an AK-47 magazine inside a bag located in the vehicle.

    Rodriguez was booked into the Bexar County Jail for his outstanding warrant and, due to his immigration status, Immigration and Customs Enforcement lodged a detainer. He is federally charged with one count of illegal alien in possession of a firearm. If convicted, he faces up to 15 years in federal prison and a $250,000 fine. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting U.S. Attorney Margaret Leachman for the Western District of Texas made the announcement.

    The U.S. Marshals Service, Immigration and Customs Enforcement, and the Bureau of Alcohol, Tobacco, Firearms and Explosives are investigating the case, along with the Office of the Texas Attorney General, Bexar County District Attorney’s Criminal Investigation Division and Bexar County Sheriff’s Office.

    Assistant U.S. Attorney Fidel Esparza III is prosecuting the case on behalf of the United States.

    A criminal complaint is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    A handgun, magazine, and .40 caliber ammunition allegedly seized during the arrest in San Antonio, Feb. 20, 2025.

    ###

    MIL Security OSI –

  • MIL-OSI: Alaris Equity Partners Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES.
    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

    CALGARY, Alberta, Feb. 24, 2025 (GLOBE NEWSWIRE) — (all numbers in this release are in US dollars (US$) unless otherwise noted) Alaris Equity Partners Income Trust (the “Trust“) (TSX: AD.UN) is pleased to announce that its subsidiary, Alaris Equity Partners USA Inc. (collectively, with the Trust and its other subsidiaries, “Alaris“) has made an investment of $21.0 million into Berg Demo Holdings, LLC (“Berg“) (the “Berg Investment”) and $61.1 million into Professional Electric Contractors of Connecticut, Inc. (“PEC“) (the “PEC Investment“). Alaris is also pleased to announce the redemption of Alaris’ investment in Unify Consulting LLC (“Unify“), which closed in December, and resulted in gross proceeds of $12.3 million to Alaris (the “Unify Redemption“).

    “A productive start to 2025 with the closing of two new partnerships and the successful exit of another. Berg and PEC both signify the forming of partnerships with very strong entrepreneurs. David Berg and Jim Bisson from Berg and PEC respectively are exactly what we look for in partners. Long track records of success and a strong passion to continue to grow their businesses. Both partners have the capacity and desire to grow through acquisitions in addition to continued organic growth.

    I’d like to thank Darren Alger and his team at Unify for a wonderful eight years as our partner. Alaris originally funded a management buyout for Darren and we are proud of how well he has done as majority owner. Crystallizing another investment with an IRR of 20% is also an excellent result for our management team,” said Steve King, Chief Executive Officer, Alaris.

    Berg Investment

    The Berg Investment consists of: (i) $17.15 million (the “Berg Preferred Contribution“) of preferred equity, entitling Alaris to an initial annualized distribution of $2.40 million (the “Berg Distribution“); and (ii) $3.85 million (the “Berg Common Equity“) for a minority common equity ownership in Berg. The Berg Distribution will reset annually based on the percentage change in gross profit, subject to a collar of +/- 7%.

    Berg has an earnings coverage ratio between 1.5x and 2.0x based on Berg’s trailing twelve-month financial results and giving effect to certain other changes to Berg’s capital structure. The Berg Investment will be used for capital investment and to provide partial liquidity to equity holders.

    “We are thrilled to partner with Alaris, a partnership that strengthens our leadership team’s ability to drive future growth. As a third-generation demolition, scrap, and hazardous materials company, Berg has built a legacy of excellence. With Alaris’s strategic support and expertise, we are confident that Berg will continue to thrive as an industry leader for generations to come,” said David Berg, Founder, Berg.

    Berg is a leading demolition solutions provider serving public, commercial and industrial end markets in the Baltimore and DC, Maryland & Virginia (“DMV”) metropolitan area in the United States. Founded in 1998 by David Berg and headquartered in Baltimore, MD, Berg has become the preeminent hazardous material abatement, selective structural and building razing operation in the region.

    PEC Investment

    The PEC Investment of $61.1 million consists of a $37.0 million investment in debt and preferred equity (the “PEC Contribution“) as well as an investment of $24.1 million in exchange for a minority common equity ownership in PEC (the “PEC Common Equity“). Included within the $37.0 million PEC Contribution is $10.0 million of preferred equity redeemable at par. The PEC Contribution will result in an annualized cash distribution to Alaris of $5.18 million (the “PEC Distribution“), an initial combined annual yield of 14% and will reset annually +/- 7% based on changes in PEC’s revenue. The proceeds from the PEC Investment were used for partial liquidity to existing PEC shareholders.

    PEC has an earnings coverage ratio between 1.5x and 2.0x, based on PEC’s trailing twelve-month financial results and giving effect to changes to PEC’s capital structure following the Alaris investment.

    “When we first met Alaris, we liked their people and their unique model immediately; Alaris’ combination of financial strength and M&A acumen will allow us to focus on growth, while their approach recognizes our desire to protect and preserve PEC’s culture, which has always been a competitive advantage and our defining attribute,” said Jim Bisson, Jr., President and Chief Executive Officer, PEC.

    PEC is a full-service electrical contracting firm with a broad range of capabilities ranging from commercial installations, historical structural retrofits and large scale Photovoltaic (PV) projects. In addition, through its subsidiary North American Renewables, Inc, PEC is a leading solar engineering, procurement and construction (“EPC”) contractor. PEC serves the Greater New England and New York area.

    Unify Redemption

    Alaris successfully exited its partnership with Unify after eight years resulting in total gross proceeds over the life of the investment of CAD$51.6 million. Alaris’ total return on the Unify investment is CAD$38.6 million, equating to an unlevered IRR of 20% and MOIC of 1.9x.

    Following the Berg and PEC Investment, and the Unify Redemption, Alaris will have approximately CA$412.9 million drawn on its senior credit facility (the “Facility“) and $87.1 million available for investment purposes while the total senior debt to EBITDA on a proforma basis is approximately 2.43x. Alaris estimates its run rate payout ratio to be approximately 57.6% following today’s announcement.

    About Alaris:

    The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners“) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.

    NON-IFRS MEASURES:

    Earnings Coverage Ratio refers to the Normalized EBITDA of a Partner divided by such Partner’s sum of debt servicing (interest and principal), unfunded capital expenditures and distributions to Alaris. Management believes the earnings coverage ratio is a useful metric in assessing our partners continued ability to make their contracted distributions.

    Normalized EBITDA refers to EBITDA excluding items that are non-recurring in nature and is calculated by adjusting for non-recurring expenses and gains to EBITDA. Management deems non-recurring charges to be unusual and/or infrequent charges that our Partners incur outside of its common day-to-day operations.

    EBITDA refers to earnings determined in accordance with IFRS, before depreciation and amortization, net of gain or loss on disposal of capital assets, interest expense and income tax expense. EBITDA is used by management and many investors to determine the ability of an issuer to generate cash from operations.

    IRR is a supplementary financial measure and refers to internal rate of return, which is a metric used to determine the discount rate that derives a net present value of cash flows to zero. Management uses IRR to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

    MOIC is a supplementary financial measure and refers to multiple of capital invested, which is a financial metric used to evaluate the value of an investment relative to the initial capital. Management uses MOIC to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

    The terms Earnings Coverage Ratio, Normalized EBITDA, EBITDA, IRR and MOIC (the “Non-IFRS Measures“) are not standard measures under IFRS. Alaris’ calculation of the Non-IFRS Measures may differ from those of other issuers and, therefore, should only be used in conjunction with the Trust’s annual audited and unaudited interim financial statements, which are available under the Trust’s (and its predecessor’s) profile on SEDAR+ at www.sedarplus.ca.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements, including forward-looking statements within the meaning of “safe harbor” provisions under applicable securities laws (“forward-looking statements”). Statements other than statements of historical fact contained in this news release may be forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning the Berg and PEC Investments and the Unify redemption. Many of these statements can be identified by words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof. Forward looking statements in this news release include, without limitation, statements regarding: the annualized distributions for the Berg and PEC Investments; the earnings coverage ratios for Berg and PEC; and Alaris’ outstanding indebtedness and use of the balance of the Facility. Any forward-looking statements herein which constitute a financial outlook or future-oriented financial information (including the impact on Run Rate Payout Ratio) were approved by management as of the date hereof and have been included to provide an understanding of Alaris’ financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

    By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect Alaris’ business and that of its Partners are material factors considered by Alaris management when setting the outlook for Alaris. Key assumptions include, but are not limited to, assumptions that: interest rates will not rise in a matter materially different from the prevailing market expectations over the next 12 to 24 months; no widespread global health crisis will impact the economy or any Partners’ operations in a material way in the next 12 months; the businesses of the majority of our Partners will continue to grow; the businesses of new Partners and those of existing partners will perform in line with Alaris’ expectations and diligence; more private companies will require access to alternative sources of capital and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms. Management of Alaris has also assumed that the Canadian and U.S. dollar trading pair will remain in a range of approximately plus or minus 15% of the current rate expectations over the next 6 months. In determining expectations for economic growth, management of Alaris primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies as well as prevailing economic conditions at the time of such determinations.

    Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to: the ability of our Partners and, correspondingly, Alaris to meet performance expectations for 2025 and beyond; any change in the senior lenders’ outlook for Alaris’ business; management’s ability to assess and mitigate the impacts of any local, regional, national or international health crises like COVID-19 or its variants; the dependence of Alaris on the Partners; reliance on key personnel; general economic conditions in Canada, North America and globally; failure to complete or realize the anticipated benefit of Alaris’ financing arrangements with the Partners; a failure of the Trust or any Partners to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions in a timely fashion, or at all; a change in the ability of the Partners to continue to pay Alaris’ distributions; a material change in the unaudited information provided to Alaris by the Partners; a failure of a Partner (or Partners) to realize on their anticipated growth strategies; a failure to achieve the expected benefits of the third-party asset management strategy or similar new investment structures and strategies; conflicts of interest that may arise under the asset management strategy or otherwise; a failure to achieve resolutions for outstanding issues with Partners on terms materially in line with management’s expectations or at all; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading “Risk Factors” and “Forward Looking Statements” in the Trust’s Management Discussion and Analysis for the year ended December 31, 2023, which is filed under the Trust’s profile at www.sedar.com and on its website at www.alarisequitypartners.com.

    This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about increases to the Trust’s net operating cash from activities and revenues, each of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI and forward-looking statements. Alaris’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and FOFI, or if any of them do so, what benefits the Trust will derive therefrom. The Trust has included the forward-looking statements and FOFI in order to provide readers with a more complete perspective on Alaris’ future operations and such information may not be appropriate for other purposes. Alaris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management’s current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct.

    The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Alaris does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation.

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

    For further information please contact:

    ir@alarisequity.com
    P: (403) 260-1457
    Alaris Equity Partners Income Trust
    Suite 250, 333 24th Avenue S.W.
    Calgary, Alberta T2S 3E6

    www.alarisequitypartners.com

    The MIL Network –

  • MIL-OSI USA: Merkley, Wyden: Trump Devastates Oregon’s Rural Communities with Federal Funding Cuts and Mass Firings

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    February 24, 2025

    Washington, D.C. – Today, Oregon’s U.S. Senators Jeff Merkley, the former top Democrat on the Appropriations subcommittee overseeing the U.S. Department of Agriculture (USDA), and Ron Wyden demanded recently confirmed U.S. Agriculture Secretary Brooke Rollins immediately reverse disastrous actions at the USDA that have harmed Oregon farmers and families.

    Their letter follows President Donald Trump’s illegal executive orders cutting federal funds which support farmers, ranchers, and forest landowners and mass firings across the federal government, impacting researchers at units in Burns, Newport, Hood River, and Pendleton.

    “These funding freezes and mass firings are cutting jobs, stopping essential investments for our farmers and rural communities, and making our communities less resilient to market volatility from climate, supply chain disruptions, tariffs, and natural disasters,” wrote the Senators. “These agency actions must be immediately reversed.”

    The Senators stressed the effects on Oregon by saying, “Many of our constituents have already started much-needed infrastructure projects – such as irrigation modernization under the Watershed and Flood Prevention Operations Program to help farmers in drought-prone areas upgrade their irrigation practices to increase efficiency and conserve water – under the assurance that they would receive their grant money. Halting these payments means that a project in Hood River County will not only be delayed for over 100 days but will put the irrigation district at risk of insolvency. Even if funds are restored immediately, the current delay will ultimately increase the overall costs of this and other urgent projects while also costing hardworking Americans their jobs. Preventing grant recipients from finishing their projects is not a cost-effective or efficient approach to governance and is irresponsible stewardship of Congressionally appropriated taxpayer dollars.”

    “While there are reports that some funds have been released, in accordance with the Constitution and federal law, we direct you to immediately release all funds under these grants to ensure these projects stay on schedule, on budget, and preserve jobs. Further, we direct you to stop these senseless firings and restore these dedicated public servants to their jobs to enhance our agriculture industry, protect food safety, and bolster jobs in rural communities and throughout Oregon,” the Senators directed.

    Full text of the letter can be found by clicking here and follows below:

    Dear Secretary Rollins,

    On the same day he was sworn in, President Trump signed an Executive Order effectively halting all investments under the Infrastructure Investments and Jobs Act, commonly known as the Bipartisan Infrastructure Law, and Inflation Reduction Act, jeopardizing vital programs that support Oregon farmers and families. Despite court intervention at other agencies pausing these harmful cuts, the United States Department of Agriculture (USDA) continues to freeze critical funding, which continues to cause severe disruption to farmers, ranchers, and forest landowners who are implementing projects under these landmark pieces of legislation. Since then, the Trump Administration has also fired an estimated 4,200 dedicated public servants in Oregon and across the country, grinding critical work and research to a halt across the agency.

    These funding freezes and mass firings are cutting jobs, stopping essential investments for our farmers and rural communities, and making our communities less resilient to market volatility from climate, supply chain disruptions, tariffs, and natural disasters. These agency actions must be immediately reversed.

    Critical research partnerships with universities and local farmers and ranchers through the USDA Agricultural Research Service are devastated with uncertain futures after public servants at research stations in Pendleton, Burns, Hood River, Corvallis, and Newport were fired. This vital work helps Oregon’s leading agricultural sectors find solutions toward improving soil health, dealing with wildfire smoke exposure in wine grapes, protecting the rangeland for both ranchers and ecosystems, and navigating threats like disease and pests to reliably bring global-class products to market.

    Many of our constituents have already started much-needed infrastructure projects – such as irrigation modernization under the Watershed and Flood Prevention Operations Program to help farmers in drought-prone areas upgrade their irrigation practices to increase efficiency and conserve water – under the assurance that they would receive their grant money. Halting these payments means that a project in Hood River County will not only be delayed for over 100 days but will put the irrigation district at risk of insolvency. Even if funds are restored immediately, the current delay will ultimately increase the overall costs of this and other urgent projects while also costing hardworking Americans their jobs. Preventing grant recipients from finishing their projects is not a cost-effective or efficient approach to governance and is irresponsible stewardship of Congressionally appropriated taxpayer dollars.

    Other projects, such as programs that partner with farmers, ranchers, and forest landowners in over half of Oregon’s 36 counties – including in Baker, Coos, Crook, Douglas, Grant, Jefferson, Klamath, Lake, Malheur, Morrow, Polk, Umatilla, Union, and Wheeler counties – to confront the challenges of drought and other extreme weather events have had the rug pulled out from under them. These landowners have already started projects amounting to tens of millions in investments to build operational and environmental resiliency into our food systems by implementing innovative production practices, increasing market competitiveness, and supporting local manufacturing.

    Other longer-term grants for wildfire resiliency through the Regional Conservation Partnership Program, such as a $22.25 million investment for work in Jackson County, has also been frozen. This has paused vital work to help ensure local landowners can not only recover from past devastating wildfires but are able to protect their neighbors and communities from future wildfires.

    Grant recipients are expecting reimbursement or payment for projects already underway and instead have been met with the message that their projects were either being paused or completely stopped. Many of these recipients are now scared to come forward for fear of further retribution and loss of vital federal support.

    While there are reports that some funds have been released, in accordance with the Constitution and federal law, we direct you to immediately release all funds under these grants to ensure these projects stay on schedule, on budget, and preserve jobs. Further, we direct you to stop these senseless firings and restore these dedicated public servants to their jobs to enhance our agriculture industry, protect food safety, and bolster jobs in rural communities and throughout Oregon.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 1156, Pandemic Unemployment Fraud Enforcement Act

    Source: US Congressional Budget Office

    Bill Summary

    H.R. 1156 would extend the statute of limitations from 5 to 10 years for federal criminal prosecution and civil enforcement actions for fraud related to the temporary unemployment programs enacted during the coronavirus pandemic. Under current law, the statute of limitations for those offenses will begin to expire in March 2025. Currently, states refer unemployment insurance claims involving allegations of fraud to the Office of Inspector General (OIG) at the Department of Labor (DOL) for further investigation. That office reviews cases and refers findings to the Department of Justice (DOJ) or other entities for criminal or civil prosecution.

    The bill also would rescind direct appropriations provided for program integrity activities in the American Rescue Plan Act of 2021.

    Estimated Federal Cost

    The estimated budgetary effect of H.R. 1156 is shown in Table 1. The costs of the legislation fall within budget functions 500 (education training, employment, and social services), 600 (income security), and 750 (administration of justice).

    Table 1.

    Estimated Budgetary Effects of H.R. 1156
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2035

    2025-2030

    2025-2035
     

    Increases or Decreases (-) in Direct Spending

    		    

    Estimated Budget Authority

    0

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    Estimated Outlays

    -3

    1

    1

    1

    *

    *

    *

    *

    *

    *

    *

    *

    *
     

    Increases in Spending Subject to Appropriation

    		    

    Estimated Authorization

    *

    2

    1

    1

    1

    *

    n.e.

    n.e.

    n.e.

    n.e.

    n.e.

    5

    n.e.

    Estimated Outlays

    *

    2

    1

    1

    1

    *

    n.e.

    n.e.

    n.e.

    n.e.

    n.e.

    5

    n.e.

    n.e. = not estimated; * = between -$500,000 and $500,000.

    CBO estimates that enacting H.R. 1156 would increase revenues by less than $500,000 over the 2025-2035 period.

    Basis of Estimate

    CBO assumes that the bill will be enacted in March 2025. Estimated outlays are based on historical patterns for existing and similar activities.

    Direct Spending and Revenues

    CBO estimates that enacting H.R. 1156 would increase net direct spending and revenues by less than $500,000 over the 2025-2035 period (see Table 2).

    Table 2.

    Estimated Changes in Direct Spending Under H.R. 1156
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2035

    2025-2030

    2025-2035
     

    Increases or Decreases (-) in Direct Spending

    		    

    Extend the Statute of Limitations

    		                      

    Estimated Budget Authority

    5

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    5

    5

    Estimated Outlays

    *

    3

    1

    1

    *

    *

    *

    *

    *

    *

    *

    5

    5

    Rescind Funding for Program Integrity Activities

    		                  

    Budget Authority

    -5

    0

    0

    0

    0

    0

    0

    0

    0

    0

    0

    -5

    -5

    Estimated Outlays

    -3

    -2

    0

    0

    0

    0

    0

    0

    0

    0

    0

    -5

    -5

    Total Changes

    		                        

    Estimated Budget Authority

    0

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    Estimated Outlays

    -3

    1

    1

    1

    *

    *

    *

    *

    *

    *

    *

    *

    *

    Extend the Statute of Limitations. Upon the enactment of H.R. 1156, CBO expects that DOL would provide additional funding to states to continue their referrals of cases to DOL and provide information about those cases to the department’s OIG and federal law enforcement agencies. Under current law, DOL has permanent authority to fund whatever amounts are necessary for those activities for pandemic-related programs. Using information from DOL, CBO estimates that under the bill the department would provide $5 million in additional funding to states, increasing direct spending by the same amount over the 2025-2035 period.

    By extending the period for which DOJ could pursue prosecutions, CBO expects that H.R. 1156 would increase the collections of penalties and the recovery of additional benefits paid fraudulently in 2025 and subsequent years. That change would not affect state laws or rules governing the recovery of overpayments. Based on an analysis of data for similar offenses from the U.S. Sentencing Commission, CBO estimates that the increase in penalty collections would be insignificant. Criminal and civil fines are recorded in the budget as revenues; criminal fines are deposited into the Crime Victims Fund and spent without further appropriation. Thus, CBO estimates that enacting H.R. 1156 would increase revenues and the associated direct spending from penalty collections by less than $500,000 over the 2025-2035 period. Additionally, using information from DOL and DOJ, CBO estimates that any additional recoveries of overpaid benefits, which are recorded as reductions in direct spending, would be insignificant. The extent to which any additional recoveries would happen is highly uncertain.

    Rescind Funding for Program Integrity Activities. The bill would rescind $5 million in mandatory funding provided in the American Rescue Plan Act to state unemployment insurance agencies for program integrity activities, which are undertaken to ensure that benefits are paid correctly. Using information from DOL, CBO estimates that the rescission would decrease direct spending by $5 million over the 2025-2035 period.

    Spending Subject to Appropriation

    CBO assumes that if the statute of limitations were extended, more potential fraud cases would be referred to the OIG, and that office would continue to investigate cases it might otherwise have dropped. Using information from the Department of Labor, CBO estimates that the OIG would require an additional $5 million over the 2025-2030 period to handle those referrals and cases. Assuming appropriation of the estimated amounts, CBO estimates that outlays for those activities would total $5 million over the same period (see Table 1).

    Pay-As-You-Go Considerations

    The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending or revenues. CBO estimates that enacting the bill would increase direct spending by less than $500,000 over the 2025-2035 period and increase revenues by less than $500,000 in every year and over the 2025-2035 period (see Table 3).

    Table 3.

    CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1156, the Pandemic Unemployment Fraud Enforcement Act, as Ordered Reported by the House Committee on Ways and Means on February 12, 2025
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2035

    2025-2030

    2025-2035
     

    Net Increase or Decrease (-) in Outlays

    		    

    Pay-As-You-Go Effect

    -3

    1

    1

    1

    0

    0

    0

    0

    0

    0

    0

    0

    0

    Increase in Long-Term Net Direct Spending and Deficits

    CBO estimates that enacting H.R. 1156 would not significantly increase net direct spending in any of the four consecutive 10-year periods beginning in 2036.

    CBO estimates that enacting H.R. 1156 would not significantly increase on‑budget deficits in any of the four consecutive 10-year periods beginning in 2036.

    Mandates

    The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

    Mandates: Erich Dvorak

    Estimate Reviewed By

    Elizabeth Cove Delisle
    Chief, Income Security Cost Estimates Unit

    Justin Humphrey
    Chief, Finance, Housing, and Education Cost Estimates Unit

    Kathleen FitzGerald 
    Chief, Public and Private Mandates Unit

    Christina Hawley Anthony
    Deputy Director of Budget Analysis

    H. Samuel Papenfuss 
    Deputy Director of Budget Analysis

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

  • MIL-OSI USA: Barrio Azteca Gang Leader and Member Extradited from Mexico to the United States to Face Charges Related to 2010 U.S. Consulate Murders in Juarez

    Source: US State of North Dakota

    Two alleged members of the Barrio Azteca (BA), a transnational criminal organization allied with the Juarez Cartel, were extradited from Mexico to the United States to face charges related to the March 2010 murders of U.S. Consulate employees in Juarez, Mexico. Eduardo Ravelo, also known as Tablas, Tablero, and T-Blas, and Enrique Guajardo Lopez, also known as Kiki, arrived in the United States on Feb. 20 and made their initial appearances today in the Western District of Texas. Ravelo, a former FBI Top 10 Most Wanted Fugitive, and Guajardo were charged in a 12-count third superseding indictment unsealed in March 2011.

    “The defendants allegedly participated in the murder of three U.S. Consulate employees in Mexico in March 2010, along with many other acts of senseless violence,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “No U.S. citizen, on either side of our border with Mexico, should have to live in fear of Barrio Azteca, any other violent border gang, or any drug cartel. The defendants’ extradition to the United States is an example of the Department’s unwavering commitment to eliminating transnational criminal organizations and the pursuit of justice for the victims of those tragic murders in Juarez, Mexico.”

    “The extradition and U.S. custody of these two defendants, who are both alleged to be members of Barrio Azteca operating along the border, is essential to our mission of disrupting and dismantling these dangerous criminal organizations,” said Acting U.S. Attorney Margaret Leachman for the Western District of Texas. “With the help of our federal, state and local law enforcement partners, this U.S. Attorney’s Office will aggressively prosecute Ravelo and Guajardo throughout this case for their alleged participation in the 2010 Consulate murders and other gang related activity.”

    “These extraditions demonstrate the FBI’s commitment to holding violent criminals accountable, no matter where they flee,” said Assistant Director Chad Yarbrough of the FBI’s Criminal Investigative Division. “The FBI and our partners will continue to aggressively pursue the Barrio Azteca and other transnational gangs wherever they operate and seek justice for the victims affected by their violent actions.”

    “The extradition of these two members of the Barrio Azteca transnational criminal organization brings us another step closer to justice for the victims of the 2010 U.S. Consulate murders in Juarez,” said Acting Administrator Derek S. Maltz of the Drug Enforcement Administration (DEA). “DEA never forgets and we never give up. Our commitment to pursue the members of violent criminal organizations threatening American lives is as strong as ever, and our message is clear — DEA will use every resource we have to get justice for American lives lost as a result of these violent networks.”

    A total of 35 BA members and associates based in the United States and Mexico were charged in the third superseding indictment for allegedly committing various criminal acts, including racketeering, narcotics distribution and importation, retaliation against persons providing information to U.S. law enforcement, extortion, money laundering, obstruction of justice, and murder. Of the 35 defendants, 10 Mexican nationals, including Ravelo and Guajardo, were charged with the March 13, 2010, murders in Juarez of U.S. Consulate employee Leslie Ann Enriquez Catton; her husband, Arthur Redelfs; and Jorge Alberto Salcido Ceniceros, the husband of another U.S. Consulate employee. All the defendants have been apprehended, and 28 have pleaded guilty. Three defendants have been convicted at trial, one committed suicide before the conclusion of his trial, and one is awaiting extradition from Mexico.

    According to court documents and evidence presented at co-defendant trials, the BA is a violent street and prison gang that began in the late 1980s and expanded into a transnational criminal organization. In the 2000s, the BA formed an alliance in Mexico with “La Linea,” which is part of the Juarez Drug Cartel (also known as the Vincente Carrillo Fuentes Drug Cartel or VCF). The purpose of the BA-La Linea alliance was to battle the Chapo Guzman Cartel and its allies for control of the drug trafficking routes through Juarez and Chihuahua. The drug routes through Juarez, known as the Juarez Plaza, are important to drug trafficking organizations because they are a principal illicit drug trafficking conduit into the United States.

    The gang has a militaristic command structure and includes captains, lieutenants, sergeants, and soldiers — all with the purpose of maintaining power and enriching its members and associates through drug trafficking, money laundering, extortion, intimidation, violence, threats of violence, and murder.

    According to court documents, Ravelo and Guajardo participated in BA activities, including narcotics trafficking and acts of violence by BA members, both in Mexico and the United States. If convicted, Ravelo and Guajardo each face a maximum penalty of life in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Ravelo’s and Guajardo’s extraditions are the result of close coordination between U.S. law enforcement and the government of Mexico in the investigation and prosecution of this case. The cooperation and assistance of the government of Mexico was essential to achieving the successful extraditions.

    The FBI El Paso Field Office; FBI Albuquerque Field Office, Las Cruces Resident Agency; DEA Juarez Division; and DEA El Paso Division investigated the case. Special assistance was provided by the Bureau of Alcohol, Tobacco, Firearms and Explosives; U.S. Immigration and Customs Enforcement; U.S. Marshals Service; U.S. Customs and Border Protection; Federal Bureau of Prisons; U.S. Diplomatic Security Service; Texas Department of Public Safety; Texas Department of Criminal Justice; El Paso Police Department; El Paso County Sheriff’s Office; El Paso Independent School District Police Department; Texas Alcohol and Beverage Commission; New Mexico State Police; Dona Ana County, New Mexico Sheriff’s Office; Las Cruces, New Mexico Police Department; Southern New Mexico Correctional Facility and Otero County Prison Facility New Mexico.

    Trial Attorney Jay Bauer of the Criminal Division’s Human Rights and Special Prosecutions Section, Trial Attorney Christina Taylor of the Criminal Division’s Violent Crime and Racketeering Section, and Assistant U.S. Attorney Steven Spitzer for the Western District of Texas are prosecuting the case.

    The U.S. Attorney’s Office for the District of New Mexico, the Justice Department’s Office of International Affairs, and the Criminal Division’s Office of Enforcement Operations provided significant assistance in this case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Security: Barrio Azteca Gang Leader and Member Extradited from Mexico to the United States to Face Charges Related to 2010 U.S. Consulate Murders in Juarez

    Source: United States Attorneys General

    Two alleged members of the Barrio Azteca (BA), a transnational criminal organization allied with the Juarez Cartel, were extradited from Mexico to the United States to face charges related to the March 2010 murders of U.S. Consulate employees in Juarez, Mexico. Eduardo Ravelo, also known as Tablas, Tablero, and T-Blas, and Enrique Guajardo Lopez, also known as Kiki, arrived in the United States on Feb. 20 and made their initial appearances today in the Western District of Texas. Ravelo, a former FBI Top 10 Most Wanted Fugitive, and Guajardo were charged in a 12-count third superseding indictment unsealed in March 2011.

    “The defendants allegedly participated in the murder of three U.S. Consulate employees in Mexico in March 2010, along with many other acts of senseless violence,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “No U.S. citizen, on either side of our border with Mexico, should have to live in fear of Barrio Azteca, any other violent border gang, or any drug cartel. The defendants’ extradition to the United States is an example of the Department’s unwavering commitment to eliminating transnational criminal organizations and the pursuit of justice for the victims of those tragic murders in Juarez, Mexico.”

    “The extradition and U.S. custody of these two defendants, who are both alleged to be members of Barrio Azteca operating along the border, is essential to our mission of disrupting and dismantling these dangerous criminal organizations,” said Acting U.S. Attorney Margaret Leachman for the Western District of Texas. “With the help of our federal, state and local law enforcement partners, this U.S. Attorney’s Office will aggressively prosecute Ravelo and Guajardo throughout this case for their alleged participation in the 2010 Consulate murders and other gang related activity.”

    “These extraditions demonstrate the FBI’s commitment to holding violent criminals accountable, no matter where they flee,” said Assistant Director Chad Yarbrough of the FBI’s Criminal Investigative Division. “The FBI and our partners will continue to aggressively pursue the Barrio Azteca and other transnational gangs wherever they operate and seek justice for the victims affected by their violent actions.”

    “The extradition of these two members of the Barrio Azteca transnational criminal organization brings us another step closer to justice for the victims of the 2010 U.S. Consulate murders in Juarez,” said Acting Administrator Derek S. Maltz of the Drug Enforcement Administration (DEA). “DEA never forgets and we never give up. Our commitment to pursue the members of violent criminal organizations threatening American lives is as strong as ever, and our message is clear — DEA will use every resource we have to get justice for American lives lost as a result of these violent networks.”

    A total of 35 BA members and associates based in the United States and Mexico were charged in the third superseding indictment for allegedly committing various criminal acts, including racketeering, narcotics distribution and importation, retaliation against persons providing information to U.S. law enforcement, extortion, money laundering, obstruction of justice, and murder. Of the 35 defendants, 10 Mexican nationals, including Ravelo and Guajardo, were charged with the March 13, 2010, murders in Juarez of U.S. Consulate employee Leslie Ann Enriquez Catton; her husband, Arthur Redelfs; and Jorge Alberto Salcido Ceniceros, the husband of another U.S. Consulate employee. All the defendants have been apprehended, and 28 have pleaded guilty. Three defendants have been convicted at trial, one committed suicide before the conclusion of his trial, and one is awaiting extradition from Mexico.

    According to court documents and evidence presented at co-defendant trials, the BA is a violent street and prison gang that began in the late 1980s and expanded into a transnational criminal organization. In the 2000s, the BA formed an alliance in Mexico with “La Linea,” which is part of the Juarez Drug Cartel (also known as the Vincente Carrillo Fuentes Drug Cartel or VCF). The purpose of the BA-La Linea alliance was to battle the Chapo Guzman Cartel and its allies for control of the drug trafficking routes through Juarez and Chihuahua. The drug routes through Juarez, known as the Juarez Plaza, are important to drug trafficking organizations because they are a principal illicit drug trafficking conduit into the United States.

    The gang has a militaristic command structure and includes captains, lieutenants, sergeants, and soldiers — all with the purpose of maintaining power and enriching its members and associates through drug trafficking, money laundering, extortion, intimidation, violence, threats of violence, and murder.

    According to court documents, Ravelo and Guajardo participated in BA activities, including narcotics trafficking and acts of violence by BA members, both in Mexico and the United States. If convicted, Ravelo and Guajardo each face a maximum penalty of life in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Ravelo’s and Guajardo’s extraditions are the result of close coordination between U.S. law enforcement and the government of Mexico in the investigation and prosecution of this case. The cooperation and assistance of the government of Mexico was essential to achieving the successful extraditions.

    The FBI El Paso Field Office; FBI Albuquerque Field Office, Las Cruces Resident Agency; DEA Juarez Division; and DEA El Paso Division investigated the case. Special assistance was provided by the Bureau of Alcohol, Tobacco, Firearms and Explosives; U.S. Immigration and Customs Enforcement; U.S. Marshals Service; U.S. Customs and Border Protection; Federal Bureau of Prisons; U.S. Diplomatic Security Service; Texas Department of Public Safety; Texas Department of Criminal Justice; El Paso Police Department; El Paso County Sheriff’s Office; El Paso Independent School District Police Department; Texas Alcohol and Beverage Commission; New Mexico State Police; Dona Ana County, New Mexico Sheriff’s Office; Las Cruces, New Mexico Police Department; Southern New Mexico Correctional Facility and Otero County Prison Facility New Mexico.

    Trial Attorney Jay Bauer of the Criminal Division’s Human Rights and Special Prosecutions Section, Trial Attorney Christina Taylor of the Criminal Division’s Violent Crime and Racketeering Section, and Assistant U.S. Attorney Steven Spitzer for the Western District of Texas are prosecuting the case.

    The U.S. Attorney’s Office for the District of New Mexico, the Justice Department’s Office of International Affairs, and the Criminal Division’s Office of Enforcement Operations provided significant assistance in this case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI: Tailrow Reciprocal Exchange, an HCI Group Sponsored Insurer, Assumes Just Under 14,000 Policies from Citizens, Representing Approximately $35 Million in Premium

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Feb. 24, 2025 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that Tailrow Insurance Exchange, an HCI-sponsored reciprocal insurer with plans to write personal residential policies, has successfully assumed just under 14,000 policies from Citizens Property Insurance Corporation, Florida’s state-backed insurance company. The policies assumed represent approximately $35 million of in-force premium.

    “We are excited to complete this assumption and officially commence operations at Tailrow. The technology we’ve built and our management expertise enabled us to identify attractive policies at Citizens for assumption and achieve a high adoption rate by policyholders,” said Paresh Patel, HCI’s chairman and chief executive officer.

    Tailrow was approved for 20,000 policies, made approximately 18,000 offers and assumed just under 14,000 policies – a 76% acceptance rate. The assumption of policies is effective as of February 18, 2025.

    A “reciprocal insurer” is an unincorporated aggregation of at least 25 policyholders operating through an attorney in fact to provide insurance among themselves. A reciprocal insurer is essentially owned by its policyholders, but its operations such as underwriting, claims and management services are provided by an attorney in fact for a predetermined management fee.

    About HCI Group, Inc.
    HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, information technology services, insurance management, real estate, and reinsurance. HCI’s leading insurance operation, TypTap Insurance Company, is a technology-driven homeowners insurance company. TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA, Inc. HCI’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners insurance primarily in Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

    The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

    Company Contact:
    Bill Broomall, CFA
    Investor Relations
    HCI Group, Inc.
    Tel (813) 776-1012
    wbroomall@typtap.com

    Investor Relations Contact:
    Matt Glover
    Gateway Group, Inc.
    Tel 949-574-3860
    HCI@gateway-grp.com

    The MIL Network –

  • MIL-OSI: Ready Capital Corporation Announces Closing of $220.0 Million of Senior Secured Notes

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that on February 21, 2025, ReadyCap Holdings, LLC (“ReadyCap”), an indirect subsidiary of the Company closed a private placement of $220.0 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028 (the “Notes”). The Notes are senior secured obligations of ReadyCap. Payments of the amounts due on the Notes are fully and unconditionally guaranteed (the “Guarantees”), at issuance, by the Company, Ready Capital Partners I, LLC, Ready Capital Subsidiary REIT II, LLC (“SubREIT II”), RCSR I Investments, LLC (“RCSR I”), RCSR II Investments, LLC (“RCSR II”) and RCSR I Intermediate Holdings, LLC (collectively, the “Guarantors”). ReadyCap’s and the Guarantors’ respective obligations under the Notes and the Guarantees are secured by a first-priority lien on the assets of RCSR I and RCSR II and the capital stock of RCSR I, RCSR II, SubREIT II and certain other subsidiaries of the Company.

    The Company intends to use the net proceeds from the private placement to repay its indebtedness and for general corporate purposes.

    Piper Sandler & Co. acted as the placement agent for the offering. Alston & Bird LLP served as counsel for the Company, and Ropes & Gray LLP served as counsel for the placement agent.

    The Notes and the Guarantees will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, or any state securities laws.

    This press release shall 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 sale of the Company’s securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

    About Ready Capital Corporation

    Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program and government guaranteed loans focused on the United States Department of Agriculture. Headquartered in New York, New York, the Company employs approximately 500 professionals nationwide. The Company is externally managed and advised by Waterfall Asset Management, LLC.

    Forward-Looking Statements

    This press release contains certain forward-looking statements. Words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “could,” “would,” “may,” “potential” or the negative of those terms or other comparable terminology are intended to identify forward-looking statements. These forward-looking statements include statements relating to, among other things, the expected use of the net proceeds from the private placement. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond the control of the Company, including, without limitation, the risk factors and other matters set forth in the Company’s Annual Report on Form 10–K for the year ended December 31, 2023 filed with the SEC and in its other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

    Contacts:
    Investor Relations
    Ready Capital Corporation
    212-257-4666
    InvestorRelations@readycapital.com

    The MIL Network –

  • MIL-OSI USA: Fourteen Members of Extensive Alien Smuggling Organization Charged and Eight Arrested for Smuggling Hundreds of Illegal Aliens into the United States

    Source: US State of California

    Note: View the indictment here.

    Fourteen alleged members of a prolific alien smuggling organization were charged for their roles smuggling aliens from South and Central America into the United States via the southern border.

    A grand jury in Las Cruces, New Mexico, returned an indictment on Feb. 19 against 14 individuals for conspiracy to transport, harbor, and bring in illegal aliens to the United States. Eight of those charged were arrested on Feb. 20 and 21.

    “Today’s indictment alleges that the defendants engaged in a sophisticated conspiracy to smuggle aliens into and throughout the United States at great danger to the aliens, resulting in the death of one person,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “The Justice Department worked with our partners at the Department of Homeland Security (DHS) to dismantle an alien smuggling organization based in Mexico that has allegedly smuggled hundreds of illegal aliens, including unaccompanied children, through New Mexico and South Texas. We are committed to eliminating transnational alien smuggling organizations that exploit migrants purely for profit and undermine our national security.”

    According to the indictment unsealed today, the defendants participated in a conspiracy to illegally bring undocumented aliens from Mexico into the United States via the U.S. southern border. The indictment alleges that the defendants were also responsible for transporting the aliens within the United States and concealing them in “stash houses” along the way. During some of the smuggling events, the defendants allegedly evaded law enforcement by travelling at high rates of speed on the road and instructing aliens how to flee U.S. Border Patrol and evade checkpoints. Additionally, the indictment alleges that one undocumented alien died from heat exposure during a smuggling event and was abandoned in the desert.

    “Human smuggling organizations threaten our national security and exploit vulnerable individuals for profit, putting their lives at risk and undermining public safety,” said Acting U.S. Attorney Holland S. Kastrin for the District of New Mexico. “The U.S. Attorney’s Office in the District of New Mexico is committed to continuing to work with our federal, state and local partners to dismantle transnational human smuggling organizations, hold their leaders accountable, and seize the illicit proceeds generated by these exploitative enterprises.”

    “We are appreciative of our brave law enforcement partners for their continued vigilance in investigating and apprehending members of transnational criminal organizations who conspire to undermine our nation’s immigration laws for their profit, with a callous and reckless disregard for the sanctity of life,” said U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) El Paso Special Agent in Charge Jason T. Stevens. “As this case sadly demonstrates, human smuggling is a crime that takes lives and puts the public at risk. ICE HSI is passionately devoted to using its abundant authority to identify, investigate, and arrest criminals who prey on the vulnerabilities of people they treat as human cargo.”

    Michelle Martinez, 29, of El Paso, Texas; Jesus Calvillo, 44, of El Paso; Jorge Calvillo, 25, of El Paso; Abel Aguilar-Cano, 53, of Albuquerque, New Mexico; and Jose Palomino, 27, of El Paso, made their initial court appearances today in the District of New Mexico and remain in U.S. custody. Edna Valdez-China, 48, of El Paso; Leslie Nicole Calvillo, also known as Leslie Jaramillo, 24, of El Paso; and Melissa Vargas, 22, of El Paso, are in U.S. custody and will make their initial appearances on Feb. 25 in the District of New Mexico. Jorge Alberto De La Cruz-Dominguez, also known as Guero, 54, of Juarez, Mexico; Jorge Valdez China, also known as Lolo, 23, of El Paso; Jonathan Valdez-China, also known as China and Dior, 24, of Juarez; and Alma Guadalupe Valdez-China, 41, of Juarez, are also charged in the indictment.

    Each defendant is charged with conspiracy to bring to, transport, and harbor illegal aliens in the United States. If convicted, they each face a maximum penalty of 10 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    ICE HSI El Paso investigated the case. U.S. Customs and Border Protection’s National Targeting Center, the Drug Enforcement Administration (DEA), ICE HSI’s Human Smuggling Unit in Washington, D.C., and the Texas Department of Public Safety provided substantial assistance with the investigation.

    Assistant U.S. Attorney Alyson R. Hehr for the District of New Mexico and Trial Attorney Jenna Reed of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) are prosecuting the case.

    These actions are the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA was established in June 2021 to marshal the investigative and prosecutorial resources of the Justice Department, in partnership with DHS, to combat the rise in prolific and dangerous alien smuggling and trafficking groups operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia. JTFA comprises detailees from U.S. Attorneys’ Offices along the southwest border, including the Southern District of California, District of Arizona, District of New Mexico, and Western and Southern Districts of Texas. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Office of Prosecutorial Development, Assistance and Training; Narcotic and Dangerous Drug Section; Money Laundering and Asset Recovery Section; Office of Enforcement Operations; Office of International Affairs; and Violent Crime and Racketeering Section. JTFA also relies on substantial law enforcement investment from DHS, FBI, DEA, and other partners. To date, JTFA’s work has resulted in more than 355 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 300 U.S. convictions; more than 245 significant jail sentences imposed; and forfeitures of substantial assets.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    MIL OSI USA News –

  • MIL-OSI Security: Fourteen Members of Extensive Alien Smuggling Organization Charged and Eight Arrested for Smuggling Hundreds of Illegal Aliens into the United States

    Source: United States Attorneys General 7

    Note: View the indictment here.

    Fourteen alleged members of a prolific alien smuggling organization were charged for their roles smuggling aliens from South and Central America into the United States via the southern border.

    A grand jury in Las Cruces, New Mexico, returned an indictment on Feb. 19 against 14 individuals for conspiracy to transport, harbor, and bring in illegal aliens to the United States. Eight of those charged were arrested on Feb. 20 and 21.

    “Today’s indictment alleges that the defendants engaged in a sophisticated conspiracy to smuggle aliens into and throughout the United States at great danger to the aliens, resulting in the death of one person,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “The Justice Department worked with our partners at the Department of Homeland Security (DHS) to dismantle an alien smuggling organization based in Mexico that has allegedly smuggled hundreds of illegal aliens, including unaccompanied children, through New Mexico and South Texas. We are committed to eliminating transnational alien smuggling organizations that exploit migrants purely for profit and undermine our national security.”

    According to the indictment unsealed today, the defendants participated in a conspiracy to illegally bring undocumented aliens from Mexico into the United States via the U.S. southern border. The indictment alleges that the defendants were also responsible for transporting the aliens within the United States and concealing them in “stash houses” along the way. During some of the smuggling events, the defendants allegedly evaded law enforcement by travelling at high rates of speed on the road and instructing aliens how to flee U.S. Border Patrol and evade checkpoints. Additionally, the indictment alleges that one undocumented alien died from heat exposure during a smuggling event and was abandoned in the desert.

    “Human smuggling organizations threaten our national security and exploit vulnerable individuals for profit, putting their lives at risk and undermining public safety,” said Acting U.S. Attorney Holland S. Kastrin for the District of New Mexico. “The U.S. Attorney’s Office in the District of New Mexico is committed to continuing to work with our federal, state and local partners to dismantle transnational human smuggling organizations, hold their leaders accountable, and seize the illicit proceeds generated by these exploitative enterprises.”

    “We are appreciative of our brave law enforcement partners for their continued vigilance in investigating and apprehending members of transnational criminal organizations who conspire to undermine our nation’s immigration laws for their profit, with a callous and reckless disregard for the sanctity of life,” said U.S. Immigration and Customs Enforcement Homeland Security Investigations (ICE HSI) El Paso Special Agent in Charge Jason T. Stevens. “As this case sadly demonstrates, human smuggling is a crime that takes lives and puts the public at risk. ICE HSI is passionately devoted to using its abundant authority to identify, investigate, and arrest criminals who prey on the vulnerabilities of people they treat as human cargo.”

    Michelle Martinez, 29, of El Paso, Texas; Jesus Calvillo, 44, of El Paso; Jorge Calvillo, 25, of El Paso; Abel Aguilar-Cano, 53, of Albuquerque, New Mexico; and Jose Palomino, 27, of El Paso, made their initial court appearances today in the District of New Mexico and remain in U.S. custody. Edna Valdez-China, 48, of El Paso; Leslie Nicole Calvillo, also known as Leslie Jaramillo, 24, of El Paso; and Melissa Vargas, 22, of El Paso, are in U.S. custody and will make their initial appearances on Feb. 25 in the District of New Mexico. Jorge Alberto De La Cruz-Dominguez, also known as Guero, 54, of Juarez, Mexico; Jorge Valdez China, also known as Lolo, 23, of El Paso; Jonathan Valdez-China, also known as China and Dior, 24, of Juarez; and Alma Guadalupe Valdez-China, 41, of Juarez, are also charged in the indictment.

    Each defendant is charged with conspiracy to bring to, transport, and harbor illegal aliens in the United States. If convicted, they each face a maximum penalty of 10 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    ICE HSI El Paso investigated the case. U.S. Customs and Border Protection’s National Targeting Center, the Drug Enforcement Administration (DEA), ICE HSI’s Human Smuggling Unit in Washington, D.C., and the Texas Department of Public Safety provided substantial assistance with the investigation.

    Assistant U.S. Attorney Alyson R. Hehr for the District of New Mexico and Trial Attorney Jenna Reed of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) are prosecuting the case.

    These actions are the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA was established in June 2021 to marshal the investigative and prosecutorial resources of the Justice Department, in partnership with DHS, to combat the rise in prolific and dangerous alien smuggling and trafficking groups operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia. JTFA comprises detailees from U.S. Attorneys’ Offices along the southwest border, including the Southern District of California, District of Arizona, District of New Mexico, and Western and Southern Districts of Texas. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Office of Prosecutorial Development, Assistance and Training; Narcotic and Dangerous Drug Section; Money Laundering and Asset Recovery Section; Office of Enforcement Operations; Office of International Affairs; and Violent Crime and Racketeering Section. JTFA also relies on substantial law enforcement investment from DHS, FBI, DEA, and other partners. To date, JTFA’s work has resulted in more than 355 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 300 U.S. convictions; more than 245 significant jail sentences imposed; and forfeitures of substantial assets.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    MIL Security OSI –

  • MIL-OSI: Rigetti Computing to Report Fourth Quarter 2024 Financial Results and Host Conference Call on March 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    BERKELEY, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (“Rigetti” or the “Company”) (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release fourth quarter 2024 results on March 5, 2025 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day.

    Key details regarding the call are as follows:

    Call Date: Wednesday, March 5, 2025
    Call Time: 5:00 p.m. ET / 2:00 p.m. PT
    Webcast Link: https://edge.media-server.com/mmc/p/5jaikwa8/
    Live Call Participant Link: https://register.vevent.com/register/BIc3642ee5e70e4bea9d3311a88c4e128a

    Webcast Instructions
    You can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the “Events & Presentations” section of the Company’s Investor Relations website at https://investors.rigetti.com/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.

    Live Call Participant Instructions
    To participate in the live call, you must register using the “Live Call Participant Link” above. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera™ QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at www.rigetti.com.

    Rigetti Computing Media Contact:
    press@rigetti.com
    Rigetti Computing Investor Relations Contact:
    IR@Rigetti.com

    The MIL Network –

  • MIL-OSI: Zoom Communications Reports Fourth Quarter and Fiscal Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth quarter total revenue of $1,184.1 million, up 3.3% year over year as reported and 3.6% in constant currency; full fiscal year total revenue of $4,665.4 million, up 3.1% year over year as reported and 3.3% in constant currency
    • Fourth quarter Enterprise revenue of $706.8 million, up 5.9% year over year; full fiscal year Enterprise revenue of $2,754.2 million, up 5.2% year over year
    • Fourth quarter operating cash flow of $424.6 million, up 20.9% year over year; full fiscal year operating cash flow of $1,945.3 million, up 21.7% year over year; full fiscal year operating cash flow margin of 41.7%
    • Fourth quarter GAAP operating margin of 19.0%, up 430 bps year over year, and non-GAAP operating margin of 39.5%, up 80 bps year over year; full fiscal year GAAP operating margin of 17.4%, up 580 bps year over year, and non-GAAP operating margin of 39.4%, up 20 bps year over year
    • Number of customers contributing more than $100,000 in trailing 12 months revenue up 7.3% year over year
    • Repurchased approximately 4.3 million shares of common stock in fourth quarter and approximately 15.9 million shares of common stock during full fiscal year

    SAN JOSE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM), an AI-first work platform for human connection, today announced financial results for the fourth quarter and fiscal year ended January 31, 2025.

    “In FY25, Zoom AI Companion emerged as the driving force behind our transformation into an AI-first company, enabling our customers to discover enhanced productivity opportunities. As Zoom AI Companion becomes increasingly agentic, we look forward to continuing to help our customers fully realize the benefits of AI and discover what’s possible with AI agents,” said Eric S. Yuan, Zoom’s founder and CEO. “Both Contact Center and Workvivo had incredible years capped by excellent Q4s in terms of strategic logo wins, upmarket momentum and broader customer growth. As we rapidly innovated for our customers, we delivered a robust 5.8-point expansion in FY25 GAAP operating margin driven by increased focus on prioritizing investments and controlling share-based compensation, and grew FY25 operating cash flow 21.7% year over year to nearly $2 billion, representing an operating cash flow margin of 41.7%.”

    Fourth Quarter Fiscal Year 2025 Financial Highlights:

    • Revenue: Total revenue for the fourth quarter was $1,184.1 million, up 3.3% year over year. After adjusting for foreign currency impact, revenue in constant currency was $1,188.0 million, up 3.6% year over year. Enterprise revenue was $706.8 million, up 5.9% year over year, and Online revenue was $477.3 million, down 0.4% year over year.
    • Income from Operations and Operating Margin: GAAP income from operations for the fourth quarter was $225.1 million, compared to GAAP income from operations of $168.5 million in the fourth quarter of fiscal year 2024. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, and acquisition-related expenses, was $468.0 million for the fourth quarter, compared to non-GAAP income from operations of $443.7 million in the fourth quarter of fiscal year 2024. For the fourth quarter, GAAP and non-GAAP operating margin was 19.0% and 39.5%, respectively, up from 14.7% and 38.7%, respectively, in the fourth quarter of fiscal year 2024.
    • Net Income and Diluted Net Income Per Share: GAAP net income for the fourth quarter was $367.9 million, or $1.16 per share, compared to GAAP net income of $298.8 million, or $0.95 per share in the fourth quarter of fiscal year 2024.

      Non-GAAP net income, which adjusts for stock-based compensation expense and related payroll taxes, gains on strategic investments, net, acquisition-related expenses, and the tax effects on non-GAAP adjustments, was $446.9 million for the fourth quarter. Non-GAAP net income per share was $1.41 in the fourth quarter. In the fourth quarter of fiscal year 2024, non-GAAP net income was $444.0 million, or $1.42 per share.

    • Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of January 31, 2025 was $7.8 billion.
    • Cash Flow: Net cash provided by operating activities was $424.6 million for the fourth quarter, compared to $351.2 million in the fourth quarter of fiscal year 2024, up 20.9% year over year. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $416.2 million in the fourth quarter, compared to $332.7 million in the fourth quarter of fiscal year 2024, up 25.1% year over year.

    Full Fiscal Year 2025 Financial Highlights:

    • Revenue: Total revenue for the fiscal year was $4,665.4 million, up 3.1% year over year. After adjusting for foreign currency impact, revenue in constant currency was $4,675.0 million, up 3.3% year over year. Enterprise revenue was $2,754.2 million, up 5.2% year over year, and Online revenue was $1,911.2 million, up 0.2% year over year.
    • Income from Operations and Operating Margin: GAAP income from operations for the fiscal year was $813.3 million, compared to GAAP income from operations of $525.3 million for fiscal year 2024. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, litigation settlements, net, and acquisition-related expenses, was $1,837.9 million for the fiscal year, compared to non-GAAP income from operations of $1,774.9 million for fiscal year 2024. For the fiscal year, GAAP and non-GAAP operating margin was 17.4% and 39.4% respectively, up from 11.6% and 39.2%, respectively, in the fourth quarter of fiscal year 2024.
    • Net Income and Diluted Net Income Per Share: GAAP net income for the fiscal year was $1,010.2 million, or $3.21 per share, compared to GAAP net income of $637.5 million, or $2.07 per share for fiscal year 2024.

      Non-GAAP net income, which adjusts for stock-based compensation expense and related payroll taxes, litigation settlements, net, gains on strategic investments, net, acquisition-related expenses, and the tax effects on non-GAAP adjustments, was $1,744.8 million for the fiscal year. Non-GAAP net income per share was $5.54. In fiscal year 2024, non-GAAP net income was $1,608.0 million, or $5.21 per share.

    • Cash Flow: Net cash provided by operating activities was $1,945.3 million for the fiscal year, compared to $1,598.8 million for fiscal year 2024 up 21.7% year over year. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $1,808.7 million, compared to $1,471.9 million for fiscal year 2024, up 22.9% year over year.

    Customer Metrics: Drivers of revenue included acquiring new customers and expanding across existing customers. At the end of the fourth quarter of fiscal year 2025, Zoom had:

    • Approximately 192,600 Enterprise customers.
    • A trailing 12-month net dollar expansion rate for Enterprise customers of 98%.
    • 4,088 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 7.3% from the same quarter last fiscal year.
    • Online average monthly churn of 2.8% for the fourth quarter, down 20 bps from the same quarter last fiscal year.
    • At the end of the fourth quarter, the percentage of total Online MRR from Online customers with a continual term of service of at least 16 months was 75.1%, up 90 bps year over year.

    As Zoom continues to expand and evolve, we have seen an increasing overlap between our Enterprise and Online customer categories. Over time, customers with lower MRR are expected to move from Enterprise to Online as we optimize our sales strategies. While these moves do not have a material impact on other customer metrics, the number of customers between these two groups has become less meaningful as a customer metric. Therefore, beginning in the first quarter of fiscal year 2026, we will no longer report the number of Enterprise customers as a customer metric. However, we will continue to provide this metric in the appendix of our investor deck through the end of fiscal year 2026, which will be accessible on our investor relations website (investors.zoom.us).

    Financial Outlook: Zoom is providing the following guidance for its first quarter of fiscal year 2026 and its full fiscal year 2026.

    • First Quarter Fiscal Year 2026: Total revenue is expected to be between $1.162 billion and $1.167 billion and revenue in constant currency is expected to be between $1.168 billion and $1.173 billion. Non-GAAP income from operations is expected to be between $440.0 million and $445.0 million. First quarter non-GAAP diluted EPS is expected to be between $1.29 and $1.31 with approximately 316 million non-GAAP weighted average shares outstanding.
    • Full Fiscal Year 2026: Total revenue is expected to be between $4.785 billion and $4.795 billion and revenue in constant currency is expected to be between $4.803 billion and $4.813 billion. Non-GAAP income from operations is expected to be between $1.850 billion and $1.860 billion. Full fiscal year non-GAAP diluted EPS is expected to be between $5.34 and $5.37 with approximately 318 million non-GAAP weighted average shares outstanding. Full fiscal year free cash flow is expected to be between $1.680 billion and $1.720 billion.

    The EPS and share count figures do not include any impact from $1.6 billion of authorized share repurchase remaining as of January 31, 2025.

    Additional information on Zoom’s reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom’s results computed in accordance with GAAP.

    A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.us.

    Zoom Video Earnings Call

    Zoom will host a Zoom Video Webinar for investors on February 24, 2025 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results, business highlights and financial outlook. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/ 

    About Zoom

    Zoom’s mission is to provide an AI-first platform for human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

    Forward-Looking Statements

    This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Zoom’s financial outlook for the first quarter of fiscal year 2026 and full fiscal year 2026, Zoom’s market position, opportunities, and growth strategy, product initiatives, including future product and feature releases and the potential of agentic AI, and go-to-market motions and the expected benefits resulting from the same, market trends, and Zoom’s stock repurchase program. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers, renewals or upgrades, or decline in demand for our platform, difficulties in evaluating our prospects and future results of operations given our limited operating history, competition from other providers of communications platforms, the effect of macroeconomic conditions on our business, including tariffs and trade tensions, inflationary pressures and market volatility, lengthened sales cycles with large organizations, delays or outages in services from our co-located data centers, failures in internet infrastructure or interference with broadband access, compromised security measures, including ours and those of the third parties upon which we rely, and global security concerns and their potential impact on regional and global economies and supply chains. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our quarterly report on Form 10-Q for the fiscal quarter ended October 31, 2024. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    Non-GAAP Financial Measures

    Zoom has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Zoom uses these non-GAAP financial measures internally in analyzing its financial results and believes that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Zoom’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.

    Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with Zoom’s condensed consolidated financial statements prepared in accordance with GAAP. A reconciliation of Zoom’s historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.

    Non-GAAP Income from Operations and Non-GAAP Operating Margin. Zoom defines non-GAAP income from operations as income from operations excluding stock-based compensation expense and related payroll taxes, acquisition-related expenses, restructuring expenses, and litigation settlements, net. Zoom excludes stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding Zoom’s operational performance and allows investors the ability to make more meaningful comparisons between Zoom’s operating results and those of other companies. Zoom excludes the amount of employer payroll taxes related to employee stock plans, which is a cash expense, in order for investors to see the full effect that excluding stock-based compensation expense had on Zoom’s operating results. In particular, this expense is dependent on the price of our common stock and other factors that are beyond our control and do not correlate to the operation of the business. Zoom views acquisition-related expenses when applicable, such as amortization of acquired intangible assets, transaction costs, and acquisition-related retention payments that are directly related to business combinations as events that are not necessarily reflective of operational performance during a period. Restructuring expenses are expenses associated with a formal restructuring plan and may include employee notice period costs, severance payments, and other related expenses. Zoom excludes these restructuring expenses because they are distinct from ongoing operational costs and Zoom does not believe they are reflective of current and expected future business performance and operating results. Zoom excludes significant litigation settlements, net of amounts covered by insurance, that we deem not to be in the ordinary course of our business. In fact, Zoom believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods that may or may not include such expenses and assist in the comparison with the results of other companies in the industry. Zoom defines non-GAAP operating margin as non-GAAP income from operations divided by GAAP revenue.

    Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted. Zoom defines non-GAAP net income as GAAP net income adjusted to exclude stock-based compensation expense and related payroll taxes, acquisition-related expenses, restructuring expenses, gains on strategic investments, net, litigation settlements, net, income tax benefits from discrete activities, and the tax effects of all non-GAAP adjustments. Zoom excludes these items because they are considered by management to be outside of Zoom’s core operating results. These adjustments are intended to provide investors and management with greater visibility to the underlying performance of Zoom’s business operations, facilitate comparison of its results with other periods, and may also facilitate comparison with the results of other companies in the industry. Zoom defines non-GAAP net income per share, basic and diluted, as non-GAAP net income divided by the number of shares outstanding, basic and diluted, calculated in accordance with GAAP.

    Free Cash Flow and Free Cash Flow Margin. Zoom defines free cash flow as GAAP net cash provided by operating activities less purchases of property and equipment. Zoom considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Zoom defines free cash flow margin as free cash flow divided by GAAP revenue.

    Revenue in Constant Currency. Zoom defines revenue in constant currency as GAAP revenue adjusted for revenue reported in currencies other than United States dollars as if they were converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. Zoom provides revenue in constant currency information as a framework for assessing how Zoom’s underlying businesses performed period to period, excluding the effects of foreign currency fluctuations.

    Customer Metrics

    Zoom defines a customer as a separate and distinct buying entity, which can be a single paid user or an organization of any size (including a distinct unit of an organization) that has multiple users. Zoom defines Enterprise customers as distinct business units that have been engaged by either our direct sales team, resellers, or strategic partners. All other customers that subscribe to our services directly through our website are referred to as Online customers.

    Zoom calculates net dollar expansion rate as of a period end by starting with the annual recurring revenue (“ARR”) from Enterprise customers as of 12 months prior (“Prior Period ARR”). Zoom defines ARR as the annualized revenue run rate of subscription agreements from all customers at a point in time. Zoom calculates ARR by taking the monthly recurring revenue (“MRR”) and multiplying it by 12. MRR is defined as the recurring revenue run-rate of subscription agreements from all Enterprise customers for the last month of the period, including revenue from monthly subscribers who have not provided any indication that they intend to cancel their subscriptions. Zoom then calculates the ARR from these Enterprise customers as of the current period end (“Current Period ARR”), which includes any upsells, contraction, and attrition. Zoom divides the Current Period ARR by the Prior Period ARR to arrive at the net dollar expansion rate. For the trailing 12 months calculation, Zoom takes an average of the net dollar expansion rate over the trailing 12 months.

    Zoom calculates online average monthly churn by starting with the Online customer MRR as of the beginning of the applicable quarter (“Entry MRR”). Zoom defines Entry MRR as the recurring revenue run-rate of subscription agreements from all Online customers except for subscriptions that Zoom recorded as churn in a previous quarter based on the customers’ earlier indication to us of their intention to cancel that subscription. Zoom then determines the MRR related to customers who canceled or downgraded their subscription or notified us of that intention during the applicable quarter (“Applicable Quarter MRR Churn”) and divides the Applicable Quarter MRR Churn by the applicable quarter Entry MRR to arrive at the MRR churn rate for Online Customers for the applicable quarter. Zoom then divides that amount by three to calculate the online average monthly churn.

    Public Relations

    Colleen Rodriguez
    Head of Global Public Relations
    press@zoom.us 

    Investor Relations

    Charles Eveslage
    Head of Investor Relations
    investors@zoom.us 

    Zoom Communications, Inc.
    Consolidated Balance Sheets
    (In thousands)

        As of January 31,
          2025     2024
    Assets   (unaudited)    
    Current assets:        
    Cash and cash equivalents   $ 1,349,380   $ 1,558,252
    Marketable securities     6,442,329     5,404,233
    Accounts receivable, net     495,228     536,078
    Deferred contract acquisition costs, current     188,358     208,474
    Prepaid expenses and other current assets     200,679     219,182
    Total current assets     8,675,974     7,926,219
    Deferred contract acquisition costs, noncurrent     123,464     138,724
    Property and equipment, net     330,475     293,704
    Operating lease right-of-use assets     55,900     58,975
    Strategic investments     591,481     409,222
    Goodwill     307,295     307,295
    Deferred tax assets     749,759     662,177
    Other assets, noncurrent     154,073     133,477
    Total assets   $ 10,988,421   $ 9,929,793
    Liabilities and stockholders’ equity        
    Current liabilities:        
    Accounts payable   $ 8,345   $ 10,175
    Accrued expenses and other current liabilities     558,562     500,164
    Deferred revenue, current     1,336,387     1,251,848
    Total current liabilities     1,903,294     1,762,187
    Deferred revenue, noncurrent     17,274     18,514
    Operating lease liabilities, noncurrent     37,406     48,308
    Other liabilities, noncurrent     95,363     81,378
    Total liabilities     2,053,337     1,910,387
             
    Stockholders’ equity:        
    Common stock     305     307
    Additional paid-in capital     5,130,271     5,228,756
    Accumulated other comprehensive income     4,990     1,063
    Retained earnings     3,799,518     2,789,280
    Total stockholders’ equity     8,935,084     8,019,406
    Total liabilities and stockholders’ equity   $ 10,988,421   $ 9,929,793
                 

    Note: The amount of unbilled accounts receivable included within accounts receivable, net on the consolidated balance sheets was $118.5 million and $124.8 million as of January 31, 2025 and 2024, respectively.

    Zoom Communications, Inc.
    Consolidated Statements of Operations
    (Unaudited, in thousands, except share and per share amounts)

        Three Months Ended January 31,   Year Ended January 31,
          2025     2024     2025     2024
    Revenue   $ 1,184,138   $ 1,146,457   $ 4,665,433   $ 4,527,224
    Cost of revenue     287,355     276,307     1,129,627     1,077,801
    Gross profit     896,783     870,150     3,535,806     3,449,423
    Operating expenses:                
    Research and development     217,121     205,282     852,415     803,187
    Sales and marketing     358,903     371,052     1,427,384     1,541,307
    General and administrative     95,696     125,286     442,712     579,650
    Total operating expenses     671,720     701,620     2,722,511     2,924,144
    Income from operations     225,063     168,530     813,295     525,279
    Gains on strategic investments, net     150,357     101,296     177,142     109,770
    Other income, net     74,899     83,057     325,147     197,263
    Income before provision for income taxes     450,319     352,883     1,315,584     832,312
    Provision for income taxes     82,454     54,051     305,346     194,850
    Net income     367,865     298,832     1,010,238     637,462
                     
    Net income per share:                
    Basic   $ 1.20   $ 0.98   $ 3.28   $ 2.12
    Diluted   $ 1.16   $ 0.95   $ 3.21   $ 2.07
    Weighted-average shares used in computing net income per share:                
    Basic     306,553,952     305,822,936     307,981,971     300,748,162
    Diluted     316,693,346     313,467,303     315,069,582     308,519,897
                             

    Zoom Communications, Inc.
    Consolidated Statements of Cash Flows
    (Unaudited, in thousands)

        Three Months Ended January 31,   Year Ended January 31,
          2025       2024       2025       2024  
    Cash flows from operating activities:                
    Net income   $ 367,865     $ 298,832     $ 1,010,238     $ 637,462  
    Adjustments to reconcile net income to net cash provided by operating activities:                
    Stock-based compensation expense     222,939       254,373       931,309       1,057,161  
    Deferred income taxes     (18,416 )     (136,735 )     (90,551 )     (116,679 )
    Amortization of deferred contract acquisition costs     71,063       66,793       282,103       270,701  
    Gains on strategic investments, net     (150,357 )     (101,296 )     (177,142 )     (109,770 )
    Depreciation and amortization     34,591       27,272       122,632       104,451  
    Provision for accounts receivable allowances     2,983       6,182       20,022       35,244  
    Unrealized foreign exchange losses (gains)     12,364       (11,022 )     17,165       12,259  
    Non-cash operating lease cost     6,205       5,225       24,066       21,066  
    Amortization of discount/premium on marketable securities     (16,871 )     (17,463 )     (71,636 )     (50,770 )
    Other     630       (2,419 )     4,048       (7,670 )
    Changes in operating assets and liabilities:                
    Accounts receivable     (47,632 )     (18,723 )     26,640       53,270  
    Prepaid expenses and other assets     (11,360 )     53,208       (17,114 )     (71,247 )
    Deferred contract acquisition costs     (79,932 )     (68,303 )     (246,727 )     (214,657 )
    Accounts payable     (1,686 )     (2,158 )     (3,133 )     (4,416 )
    Accrued expenses and other liabilities     65,245       51,989       62,277       51,974  
    Deferred revenue     (26,253 )     (48,637 )     79,995       (46,719 )
    Operating lease liabilities, net     (6,812 )     (5,893 )     (28,884 )     (22,824 )
    Net cash provided by operating activities     424,566       351,225       1,945,308       1,598,836  
    Cash flows from investing activities:                
    Purchases of marketable securities     (919,938 )     (1,120,371 )     (4,622,104 )     (4,083,968 )
    Maturities of marketable securities     919,856       773,341       3,610,274       3,131,419  
    Sales of marketable securities     —       1,191       47,482       1,191  
    Purchases of property and equipment     (8,334 )     (18,540 )     (136,560 )     (126,953 )
    Purchases of strategic investments     (5,000 )     (17,727 )     (18,500 )     (70,527 )
    Proceeds from strategic investments     8,530       62,823       13,384       170,067  
    Cash paid for acquisition, net of cash acquired     —       —       —       (204,918 )
    Net cash used in investing activities     (4,886 )     (319,283 )     (1,106,024 )     (1,183,689 )
    Cash flows from financing activities:                
    Cash paid for repurchases of common stock     (354,567 )     —       (1,093,878 )     —  
    Proceeds from issuance of common stock for employee stock purchase plan     19,745       21,584       54,008       54,097  
    Proceeds from exercise of stock options     867       1,859       4,619       10,195  
    Proceeds from employee equity transactions to be remitted (remitted) to employees and tax authorities, net     4,984       791       7,174       (4,106 )
    Net cash (used in) provided by financing activities     (328,971 )     24,234       (1,028,077 )     60,186  
    Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (12,150 )     11,077       (15,170 )     (10,196 )
    Net increase (decrease) in cash, cash equivalents, and restricted cash     78,559       67,253       (203,963 )     465,137  
    Cash, cash equivalents, and restricted cash—beginning of year     1,282,858       1,498,127       1,565,380       1,100,243  
    Cash, cash equivalents, and restricted cash—end of year   $ 1,361,417     $ 1,565,380     $ 1,361,417     $ 1,565,380  
                                     

    Zoom Communications, Inc.
    Reconciliation of GAAP to Non-GAAP Measures
    (Unaudited, in thousands, except share and per share amounts)

        Three Months Ended January 31,   Year Ended January 31,
          2025       2024       2025       2024  
    GAAP income from operations   $ 225,063     $ 168,530     $ 813,295     $ 525,279  
    Add:                
    Stock-based compensation expense and related payroll taxes     232,983       262,754       966,732       1,076,212  
    Litigation settlements, net     —       —       16,250       52,500  
    Acquisition-related expenses     9,916       12,465       41,618       47,904  
    Restructuring expenses     —       —       —       72,993  
    Non-GAAP income from operations   $ 467,962     $ 443,749     $ 1,837,895     $ 1,774,888  
    GAAP operating margin     19.0 %     14.7 %     17.4 %     11.6 %
    Non-GAAP operating margin     39.5 %     38.7 %     39.4 %     39.2 %
                     
    GAAP net income   $ 367,865     $ 298,832     $ 1,010,238     $ 637,462  
    Add:                
    Stock-based compensation expense and related payroll taxes     232,983       262,754       966,732       1,076,212  
    Litigation settlements, net     —       —       16,250       52,500  
    Gains on strategic investments, net     (150,357 )     (101,296 )     (177,142 )     (109,770 )
    Acquisition-related expenses     9,916       12,465       41,618       47,904  
    Restructuring expenses     —       —       —       72,993  
    Income tax benefits from discrete activities     —       (8,272 )     —       (8,272 )
    Tax effects on non-GAAP adjustments     (13,461 )     (20,512 )     (112,945 )     (161,006 )
    Non-GAAP net income   $ 446,946     $ 443,971     $ 1,744,751     $ 1,608,023  
                     
    Net income per share – basic and diluted:                
    GAAP net income per share – basic   $ 1.20     $ 0.98     $ 3.28     $ 2.12  
    Non-GAAP net income per share – basic   $ 1.46     $ 1.45     $ 5.67     $ 5.35  
    GAAP net income per share – diluted   $ 1.16     $ 0.95     $ 3.21     $ 2.07  
    Non-GAAP net income per share – diluted   $ 1.41     $ 1.42     $ 5.54     $ 5.21  
                     
    GAAP and non-GAAP weighted-average shares used to compute net income per share – basic     306,553,952       305,822,936       307,981,971       300,748,162  
    GAAP and non-GAAP weighted-average shares used to compute net income per share – diluted     316,693,346       313,467,303       315,069,582       308,519,897  
                     
    Net cash provided by operating activities   $ 424,566     $ 351,225     $ 1,945,308     $ 1,598,836  
    Less: Purchases of property and equipment     (8,334 )     (18,540 )     (136,560 )     (126,953 )
    Free cash flow (non-GAAP)     416,232       332,685       1,808,748       1,471,883  
    Net cash used in investing activities   $ (4,886 )   $ (319,283 )   $ (1,106,024 )   $ (1,183,689 )
    Net cash provided by financing activities   $ (328,971 )   $ 24,234     $ (1,028,077 )   $ 60,186  
    Operating cash flow margin (GAAP)     35.9 %     30.6 %     41.7 %     35.3 %
    Free cash flow margin (non-GAAP)     35.2 %     29.0 %     38.8 %     32.5 %
                     
        Three Months Ended January 31,   Year Ended January 31,
          2025       2025  
        Revenue   YoY Revenue Growth (%)   Revenue   YoY Revenue Growth (%)
    GAAP revenue   $ 1,184,138       3.3 %   $ 4,665,433       3.1 %
    Add: Constant currency impact     3,835       0.3 %     9,545       0.2 %
    Revenue in constant currency (non-GAAP)   $ 1,187,973       3.6 %   $ 4,674,978       3.3 %

    The MIL Network –

  • MIL-OSI: EverCommerce Announces Date of Fourth Quarter 2024 Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Feb. 24, 2025 (GLOBE NEWSWIRE) — EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, will report its fourth quarter 2024 financial results after the U.S. financial markets close on Thursday, March 13, 2025.

    Management will host a conference call on Thursday, March 13 at 5:00 p.m. Eastern Time / 3:00 p.m. Mountain Time to discuss the Company’s financial results and provide a business update. Please visit the “Investor Relations” page of the Company’s website (https://investors.evercommerce.com/) for both telephonic and webcast access to this call; a replay will be archived on the website as well.

    About EverCommerce

    EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at EverCommerce.com.

    Investor Contact:
    Brad Korch
    SVP and Head of Investor Relations
    720-796-7664
    ir@evercommerce.com

    Press Contact:
    Jeanne Trogan
    VP of Corporate Communications
    512-705-1293
    press@evercommerce.com

    The MIL Network –

  • MIL-OSI: American National Completes Full Redemption of Outstanding Depositary Shares Representing Interests in its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 24, 2025 (GLOBE NEWSWIRE) — American National Group Inc. (the “Company”) (NYSE: ANG PRA) today announced that the Company has completed the previously announced redemption (the “Redemption”) of all the 16,000 outstanding shares of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”) and the corresponding 16,000,000 depositary shares, each representing a 1/1,000th interest in one share of Series A Preferred Stock (the “Depositary Shares”). The redemption price for the Depositary Shares was $25.00 per Depositary Share (equivalent to $25,000 per share of Series A Preferred Stock) plus an amount equal to any declared but unpaid dividends and the portion of the quarterly dividend attributable to 1/1,000th of a share of Series A Preferred Stock to the then-current dividend period that has not been declared and paid to, but excluding, the redemption date (which was February 24, 2025) (the “Redemption Date”, and such redemption price, the “Redemption Price”). The Company funded the Redemption Price with the net proceeds from its previously announced sale of 12,000,000 depositary shares, each representing a 1/1,000th interest in a share of the Company’s Fixed-Rate Non-Cumulative Preferred Stock, Series D, together with cash on hand.

    None of the Series A Preferred Stock or Depositary Shares remain outstanding, and all rights with respect to such stock or depositary shares have ceased and terminated except only the right of the holders of the Depositary Shares to receive the Redemption Price, without interest. Investors in the Depositary Shares should contact the bank or broker through which they held a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the Depositary Shares in which they had a beneficial interest.

    In connection with the Redemption, the New York Stock Exchange (“NYSE”) has suspended trading of the Depositary Shares effective prior to the opening of trading on the Redemption Date. NYSE has filed with the Securities and Exchange Commission (the “SEC”) a notification of removal from listing and registration on Form 25 to effect the delisting of all of the Depositary Shares from NYSE. In addition, the Company intends to file a certification on Form 15 with the SEC requesting the termination of registration of all of the Depositary Shares. Deregistration of the Depositary Shares is expected to become effective 90 days after the Form 15 is filed.

    ABOUT AMERICAN NATIONAL GROUP INC.

    American National Group Inc. offers a broad array of insurance products and services through its operating subsidiaries, American National and American Equity Life. Operating across 50 U.S. states, the group’s customer offering includes annuities, personal and commercial property and casualty insurance and life insurance. For more information, please visit AmericanNational.com/home/about-us/investor-relations.

    Forward-Looking Statements

    All statements contained in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. Forward-looking statements give expectations or forecasts of future events and do not relate strictly to historical or current facts. They may relate to markets for our products, trends in our operations or financial results, strategic alternatives, future operations, strategies, plans, partnerships, investments, share buybacks and other financial developments. They use words and terms such as “anticipate,” “assume,” “believe,” “can,” “continue,” “could,” “enable,” “estimate,” “expect,” “foreseeable,” “goal,” “improve,” “intend,” “likely,” “may,” “model,” “objective,” “opportunity,” “outlook,” “plan,” “potential,” “project,” “remain,” “risk,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words and terms of similar meaning or that are otherwise tied to future periods or future performance, in each case in all forms of speech and derivative forms, or similar words, as well as any projections of future events or results. Forward-looking statements, by their nature, are subject to a variety of assumptions, risks, and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by the Company. Factors that may cause our actual decisions or results to differ materially from those contemplated by these forward-looking statements include, among other things, the factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any other documents we file with the SEC.

    Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements except as required by law. There can be no assurance that other factors not currently disclosed or anticipated by the Company will not materially adversely affect our results of operations or plans. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

    Contact: Steven Schwartz
    Treasurer, Head of Investor Relations
    888-221-1234 ext. 3763
    sschwartz@american-equity.com

    The MIL Network –

  • MIL-OSI: Kneat to Announce 2024 Fourth-Quarter and Full-Year Financial Results February 26, 2025

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Ireland, Feb. 24, 2025 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation and quality processes, announced today that the Company will release its financial results for the quarter ended December 31, 2024, after TSX market close on February 26, 2025.

    Eddie Ryan, Chief Executive Officer and Hugh Kavanagh, Chief Financial Officer, will host a conference call and Q&A for sell side analysts via webcast on February 27, 2025 at 09:00 ET (14:00 GMT).

    Interested parties can register for the live webcast via the following link:

    Register Here

    The fourth-quarter financial results will be available from the Financial Information section of the Investors page on the Kneat Solutions website, at: https://kneat.com/investors/ 

    About Kneat
    Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show a 40% or more reduction in validation cycle times, nearly 20% faster speed to market, and 80% reduced changeover time. For more information visit www.kneat.com.

    For further information:

    Katie Keita, Investor Relations Lead, +902-706-9074, katie.keita@kneat.com

    The MIL Network –