Category: Machine Learning

  • MIL-OSI USA: SPC Severe Thunderstorm Watch 205

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL5

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Severe Thunderstorm Watch Number 205
    NWS Storm Prediction Center Norman OK
    440 PM CDT Thu May 1 2025

    The NWS Storm Prediction Center has issued a

    * Severe Thunderstorm Watch for portions of
    South-Central and South Texas

    * Effective this Thursday afternoon from 440 PM until Midnight
    CDT.

    * Primary threats include…
    Scattered damaging winds and isolated significant gusts to 75
    mph possible
    Scattered large hail and isolated very large hail events to 3.5
    inches in diameter possible

    SUMMARY…Isolated to widely scattered thunderstorms are forecast to
    develop through the late afternoon and into the evening. A very
    unstable airmass and adequate deep-layer shear will promote
    supercell development. Large to giant hail is possible with the
    stronger storms. By this evening, a few storms may congeal and move
    east of the Rio Grande into parts of south Texas, posing a risk for
    large hail and severe gusts.

    The severe thunderstorm watch area is approximately along and 80
    statute miles east and west of a line from 15 miles northwest of
    Junction TX to 50 miles west southwest of Laredo TX. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU5).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Severe Thunderstorm Watch means conditions are
    favorable for severe thunderstorms in and close to the watch area.
    Persons in these areas should be on the lookout for threatening
    weather conditions and listen for later statements and possible
    warnings. Severe thunderstorms can and occasionally do produce
    tornadoes.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 203…WW 204…

    AVIATION…A few severe thunderstorms with hail surface and aloft to
    3.5 inches. Extreme turbulence and surface wind gusts to 65 knots. A
    few cumulonimbi with maximum tops to 600. Mean storm motion vector
    31010.

    …Smith

    SEL5

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Severe Thunderstorm Watch Number 205
    NWS Storm Prediction Center Norman OK
    440 PM CDT Thu May 1 2025

    The NWS Storm Prediction Center has issued a

    * Severe Thunderstorm Watch for portions of
    South-Central and South Texas

    * Effective this Thursday afternoon from 440 PM until Midnight
    CDT.

    * Primary threats include…
    Scattered damaging winds and isolated significant gusts to 75
    mph possible
    Scattered large hail and isolated very large hail events to 3.5
    inches in diameter possible

    SUMMARY…Isolated to widely scattered thunderstorms are forecast to
    develop through the late afternoon and into the evening. A very
    unstable airmass and adequate deep-layer shear will promote
    supercell development. Large to giant hail is possible with the
    stronger storms. By this evening, a few storms may congeal and move
    east of the Rio Grande into parts of south Texas, posing a risk for
    large hail and severe gusts.

    The severe thunderstorm watch area is approximately along and 80
    statute miles east and west of a line from 15 miles northwest of
    Junction TX to 50 miles west southwest of Laredo TX. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU5).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Severe Thunderstorm Watch means conditions are
    favorable for severe thunderstorms in and close to the watch area.
    Persons in these areas should be on the lookout for threatening
    weather conditions and listen for later statements and possible
    warnings. Severe thunderstorms can and occasionally do produce
    tornadoes.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 203…WW 204…

    AVIATION…A few severe thunderstorms with hail surface and aloft to
    3.5 inches. Extreme turbulence and surface wind gusts to 65 knots. A
    few cumulonimbi with maximum tops to 600. Mean storm motion vector
    31010.

    …Smith

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW5
    WW 205 SEVERE TSTM TX 012140Z – 020500Z
    AXIS..80 STATUTE MILES EAST AND WEST OF LINE..
    15NW JCT/JUNCTION TX/ – 50WSW LRD/LAREDO TX/
    ..AVIATION COORDS.. 70NM E/W /8WNW JCT – 45WSW LRD/
    HAIL SURFACE AND ALOFT..3.5 INCHES. WIND GUSTS..65 KNOTS.
    MAX TOPS TO 600. MEAN STORM MOTION VECTOR 31010.

    LAT…LON 30679860 27279892 27270152 30670129

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU5.

    Watch 205 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Low (10%)

    Probability of 1 or more strong (EF2-EF5) tornadoes

    Low ( 65 knots

    Mod (30%)

    Hail

    Probability of 10 or more severe hail events

    Mod (40%)

    Probability of 1 or more hailstones > 2 inches

    Mod (40%)

    Combined Severe Hail/Wind

    Probability of 6 or more combined severe hail/wind events

    High (70%)

    For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.

    MIL OSI USA News

  • MIL-OSI: Diversified Royalty Corp. Announces Additions to the Mr. Lube + Tires Royalty Pool, May 2025 Cash Dividend and Q1 2025 Earnings Release Date

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) and Mr. Lube Canada Limited Partnership (“Mr. Lube + Tires”) announced today that effective May 1, 2025 the Mr. Lube + Tires royalty pool (the “Mr. Lube + Tires Royalty Pool”) has been adjusted to include the royalties from six new flagship Mr. Lube + Tires locations and remove one flagship Mr. Lube + Tires location that has permanently closed. With the adjustment for these five net new locations, the Mr. Lube + Tires Royalty Pool now includes 149 flagship locations.

    Sean Morrison, President and Chief Executive Officer of DIV, stated, “Mr. Lube + Tires continues to generate strong same-store-sales-growth across its franchise system and is well positioned to continue this impressive growth moving forward”.

    Pamela Lee, President and Chief Executive Officer of Mr. Lube + Tires, stated, “Mr. Lube + Tires is proud of the performance of our franchisees in 2024. We continue to be focused on growing the Mr. Lube + Tires brand, strengthening the store level economics of our franchisees, and continuing to provide best-in-class service to our customers”.

    Additions to the Mr. Lube + Tires Royalty Pool

    Subject to certain performance criteria being met, and the LP Amendment as described further below, the Mr. Lube + Tires Royalty Pool is adjusted annually on May 1 (the “Adjustment Date”) to include new Mr. Lube + Tires locations that have been open since July 1 of the previous reporting period and to remove Mr. Lube + Tires locations that have been permanently closed during the previous year.

    The initial consideration paid to Mr. Lube + Tires for the estimated net additional royalty revenue was $4.0 million, representing 80% of the total estimated consideration of $5.0 million. The initial consideration of $4.0 million was elected by DIV to be paid in the form of 1,460,419 Common Shares of DIV on the basis of the 20-day volume weighted average closing price of the Common Shares for the period ended April 24, 2025 of $2.7363 per Common Share.

    The remaining consideration payable for the additional royalty revenue of the six new Mr. Lube + Tires locations added to the Royalty Pool on May 1, 2025 will be paid to Mr. Lube + Tires on May 1, 2026, the next Adjustment Date, and will be adjusted to reflect the actual system sales of these six new locations for the year ending December 31, 2025, net of the lost system sales of the one permanently closed Mr. Lube + Tires location removed from the Mr. Lube + Tires Royalty pool on May 1, 2025.

    On May 1, 2023, the Mr. Lube + Tires Royalty Pool was adjusted to include royalties from five new flagship Mr. Lube + Tires locations. The initial consideration previously paid by DIV was $4.7 million, which represented 80% of the total estimated consideration for those five locations, which estimate was based on the forecast system sales of these five locations for year ending December 31, 2023. As a result of a previously-announced amendment (the “LP Amendment”) to the amended and restated limited partnership agreement (the “LP Agreement”) of DIV’s direct subsidiary ML Royalties Limited Partnership (“ML LP”), the remaining consideration payable for the additional royalty revenue of the five Mr. Lube + Tires locations (the “2023 True-Up Locations”) added to the Mr. Lube + Tires Royalty Pool on May 1, 2023 was to be paid to Mr. Lube + Tires on May 1, 2025 (as opposed to May 1, 2024), and adjusted to reflect the actual system sales of these five new locations for the year ending December 31, 2024 (as opposed to the actual system sales for the year ending December 31, 2023).

    The actual system sales for the 2023 True-Up Locations added to the Royalty Pool on May 1, 2023 has now been determined for the year ended December 31, 2024 to be $10.1 million. The total consideration payable to Mr. Lube + Tires for the net additional royalty revenue of these 2023 True-Up Locations based on their actual system sales for the year ended December 31, 2024 is $7.1 million. After taking into account the $4.7 million previously paid by DIV to Mr. Lube + Tires on May 1, 2023 for the 2023 True-Up Locations, DIV paid Mr. Lube + Tires the remaining $2.4 million of cash consideration for the net additional royalty revenue of these 2023 True-Up Locations on May 1, 2025.

    For further details with respect to the manner in which annual adjustments of the Mr. Lube + Tires Royalty Pool occur and the agreements underlying the procedures therefor, see DIV’s Annual Information Form dated March 24, 2025 as well as the LP Amendment, copies of each of which are available on SEDAR+ at www.sedarplus.com.

    May 2025 Cash Dividend

    DIV is pleased to announce that its board of directors has approved a cash dividend of $0.02083 per common share for the period of May 1, 2025 to May 31, 2025, which is equal to $0.25 per common share on an annualized basis. The dividend will be paid on May 30, 2025 to shareholders of record as of the close of business on May 15, 2025.

    Q1 2025 Earnings Release Date

    DIV will release earnings results for the three months ended March 31, 2025 following the closing of regular trading on the Toronto Stock Exchange on May 14, 2025.

    About Diversified Royalty Corp.

    DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

    DIV currently owns the Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito trademarks. Mr. Lube + Tires is the leading quick lube service business in Canada, with locations across Canada. AIR MILES® is Canada’s largest coalition loyalty program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchisee supplemental education services. Stratus Building Solutions is a leading commercial cleaning service franchise company providing comprehensive janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is the largest quick service Mexican restaurant food chain in Canada.

    DIV’s objective is to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and increase the dividend over time, in each case as cash flow per share allows.

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking information” or “financial outlook” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, ”project”, “should”, “believe”, “confident”, “plan” and “intend” and similar expressions are intended to identify forward-looking information and financial outlook, although not all forward-looking information and financial outlook contain these identifying words. Specifically, forward-looking information and financial outlook in this news release includes, but is not limited to, statements made in relation to: the amount and timing of the payment for the remaining consideration payable to Mr. Lube + Tires for the additional royalty revenue from the six Mr. Lube + Tires locations added to the Mr. Lube + Tires Royalty Pool on May 1, 2025; DIV’s belief that Mr. Lube + Tires will continue to generate strong same-store-sales-growth across its franchise system and is well positioned to continue its impressive growth moving forward; Mr. Lube + Tires being focused on growing the Mr. Lube + Tires brand, strengthening the store level economics of its franchisees, and continuing to provide best-in-class service to its customers; the amount and timing of the May 2025 dividend to be paid to DIV’s shareholders; the timing of DIV releasing earnings results for the three months ended March 31, 2025; DIV’s objective to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of DIV to differ materially from those anticipated or implied in such forward-looking information and financial outlook. DIV believes that the expectations reflected in the forward-looking information and financial outlook are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: Mr. Lube + Tires will continue to make royalty payments in the amounts and at the times required, or at all; the amount of, or timing of the payment for, the additional consideration payable to Mr. Lube + Tires for the six additional Mr. Lube + Tires locations added to the Mr. Lube + Tires Royalty Pool on May 1, 2025 will occur in the amount or at the time estimated; that transactions completed with Mr. Lube + Tires for the additions to the Mr. Lube + Tires Royalty Pool will be accretive to DIV shareholders; that Mr. Lube + Tires will realize any of the intended benefits of its growth strategy; that Mr. Lube + Tires will continue to grow its brand; that Mr. Lube + Tires will continue opening new stores, or that such stores will be successful if opened; that Mr. Lube + Tires will succeed in strengthening store level economics of its franchisees; that Mr. Lube + Tires will continue to provide best-in-class service to its customers; DIV will be able to make monthly dividend payments to the holders of its common shares; or DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information and financial outlook included in this news release are not guarantees of future performance, and such forward-looking information and financial outlook should not be unduly relied upon. More information about the risks and uncertainties affecting DIV’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form dated March 24, 2025 and in DIV’s most recently filed management’s discussion and analysis, copies of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

    In formulating the forward-looking information and financial outlook contained herein, management has assumed that DIV will generate sufficient cash flows from its royalties to service its debt and pay dividends to shareholders; lenders will provide any necessary waivers required in order to allow DIV to continue to pay dividends; the performance of the Mr. Lube + Tires flagship locations in the Mr. Lube + Tires Royalty Pool will be consistent with DIV’s expectations; and the business and economic conditions affecting DIV and its royalty partners will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

    To the extent any forward-looking information in this news release constitutes a “financial outlook” within the meaning of applicable securities laws, such information is being provided to provide investors with an estimate of the financial impact to DIV of transactions with Mr. Lube + Tires described in this news release.

    All of the forward-looking information and financial outlook in this news release is qualified in its entirety by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, DIV. The forward-looking information and financial outlook included in this news release is presented as of the date of this news release and DIV assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

    Additional Information

    Additional information relating to the Corporation and other public filings, is available on SEDAR+ at www.sedarplus.com.

    Contact:
    Sean Morrison, President and Chief Executive Officer
    Diversified Royalty Corp.
    (604) 235-3146

    Greg Gutmanis, Chief Financial Officer and VP Acquisitions
    Diversified Royalty Corp.
    (604) 235-3146

    The MIL Network

  • MIL-OSI: Quaint Oak Bancorp, Inc. Announces First Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    Southampton, PA , May 01, 2025 (GLOBE NEWSWIRE) — Quaint Oak Bancorp, Inc. (the “Company”) (OTCQB: QNTO), the holding company for Quaint Oak Bank (the “Bank”), announced today net loss for the quarter ended March 31, 2025 of $83,000, or $(0.03) per basic and diluted share, compared to net income of $873,000, or $0.36 per basic and diluted share, for the same period in 2024.

    Robert T. Strong, Chief Executive Officer stated, “First quarter results historically are not the best of our calendar year. Our first quarter results of this year certainly proved true with slightly less than a breakeven performance. The trends in the country’s real gross domestic product shrinkage of -0.3% in the first quarter 2025 from growth of 2.4% in the fourth quarter of 2024 is a testament to the reality we have experienced.”

    Mr. Strong added, “Uncertainty of the country’s direction in world trade and other domestic issues have had the effect of slowing commitments in the business sector. The housing market has failed to thrive so far this year, rendering our mortgage banking subsidiary to a relatively neutral production mode. Small Business loans both in the SBA category and our portfolio category are slow to close with business owners waiting to gauge the momentum of 2025.”

    Mr. Strong continued, “On a more positive note, the Bank’s pipeline for commercial loans, SBA loans and mortgage loans is relatively strong which would indicate that as the uncertainty in political direction is clarified, our prospects for loan closings should improve.”

    Mr. Strong commented, “We have been reporting weakness in the small business sector of our loan portfolio which still exists. Although both the non-performing loans as a percentage of total loans receivable, net and our non-performing assets as a percentage of total assets experienced a marginal increase over the previous quarter ended December 31, 2024, both have improved over the quarter ended March 31, 2024. Our Texas Ratio is 9.22% at the quarter ended March 31, 2025, down from 11.96% at the quarter ended March 31, 2024. Additionally, I am pleased to report that the Bank’s Total Risk-Based Capital Ratio improved to 13.92% at March 31, 2025 from 13.61% at March 31, 2024.”

    Mr. Strong concluded, “As always, our current and continued business strategy focuses on long-term profitability and maintaining healthy capital ratios both of which reflect our strong commitment to shareholder value.”

    Comparison of Quarter-over-Quarter Operating Results

    Net loss amounted to $83,000 for the three months ended March 31, 2025, a decrease of $956,000, or 109.5%, compared to net income of $873,000 for the three months ended March 31, 2024. The decrease in net income on a comparative quarterly basis was primarily the result of a decrease in interest and dividend income of $2.2 million, an increase in non-interest expense of $419,000, and a decrease in net income from discontinued operations of $406,000, partially offset by a decrease in interest expense of $930,000, a decrease in the provision for credit losses of $695,000, a decrease in the net provision for income taxes from continuing operations of $262,000, and an increase in non-interest income of $178,000.

    The $2.2 million, or 18.1%, decrease in interest and dividend income was primarily due to a decrease in the average balance of loans receivable, net, which decreased $69.8 million from $658.4 million for the three months ended March 31, 2024 to $588.7 million for the three months ended March 31, 2025 and had the effect of decreasing interest income $1.2 million, a 35 basis point decrease in the average yield on loans receivable, net from 6.82% for the three months ended March 31, 2024 to 6.47% for the three months ended March 31, 2025, and had the effect of decreasing interest income $519,000, and a $31.1 million decrease in the average balance of due from banks – interest earning, which decreased from $68.2 million for the three months ended March 31, 2024 to $37.1 million for the three months ended March 31, 2025, and had the effect of decreasing interest income $356,000.

    The $930,000, or 13.9%, decrease in interest expense for the three months ended March 31, 2025 over the comparable period in 2024 was driven by a $1.3 million, or 21.0%, decrease in interest expense on deposits, which was primarily attributable to reduced correspondent banking activity. Also contributing to the decrease in interest expense for the three months ended March 31, 2025 was a $237,000, or 97.9%, decrease in the interest expense on Federal Home Loan Bank long-term borrowings due to a $23.3 million, or 92.8%, decrease in the average balance of Federal Home Loan Bank long-term borrowings which decreased from $25.1 million for the three months ended March 31, 2024 to $1.8 million for the three months ended March 31, 2025 and a $32,000, or 6.6%, decrease in interest expense on subordinated debt. These decreases in interest expense were partially offset by a $479,000, or 100.0%, increase in the interest expense on Federal Home Loan Bank short-term borrowings due to a $43.2 million, or 100.0%, increase in the average balance of Federal Home Loan Bank short-term borrowings which increased from none for the three months ended March 31, 2024 to $43.2 million for the three months ended March 31, 2025, and a $116,000, or 100.0% increase in interest expense on senior debt. The average interest rate spread increased from 2.06% for the three months ended March 31, 2024 to 2.13% for the three months ended March 31, 2025 while the net interest margin decreased from 2.96% for the three months ended March 31, 2024 to 2.63% for the three months ended March 31, 2025.

    The $695,000, or 61.2%, decrease in the provision for credit losses for the three months ended March 31, 2025 over the three months ended March 31, 2024 was primarily due to a decrease in loans receivable, net, partially offset by an increase in charge-offs during the three months ended March 31, 2025.

    The $178,000, or 11.3%, increase in non-interest income for the three months ended March 31, 2025 over the comparable period in 2024 was primarily attributable to a $279,000, or 996.4%, increase in gain on sale of SBA loans, a $121,000, or 12.9%, increase in net gain on sale of loans, and a $33,000, or 21.7%, increase in insurance commissions. These increases were partially offset by a $195,000, or 85.9%, decrease in other fees and service charges, a $60,000, or 29.1%, decrease in mortgage banking, equipment lending and title abstract fees, and a $4,000, or 100.0%, decrease in real estate sales commissions, net.

    The $419,000, or 8.2%, increase in non-interest expense for the three months ended March 31, 2025 over the comparable period in 2024 was primarily due to a $181,000, or 72.4%, increase in occupancy and equipment expense, a $139,000, or 52.9%, increase in data processing expense, an $82,000, or 58.2%, increase in professional fees, a $55,000, or 11.3%, increase in other expense, a $14,000, or 27.5%, increase in directors’ fees and expenses, and a $13,000, or 15.1%, increase in advertising expense. These increases were partially offset by a $52,000, or 30.1%, decrease in FDIC deposit insurance assessment, and a $13,000, or 0.4%, decrease in salaries and employee benefits expense.

    The provision for income tax from continuing operations decreased $262,000, or 99.2%, from $264,000 for the three months ended March 31, 2024 to $2,000 for the three months ended March 31, 2025 due primarily to a decrease in pre-tax income.

    Comparison of Financial Condition

    The Company’s total assets at March 31, 2025 were $650.4 million, a decrease of $34.8 million, or 5.1%, from $685.2 million at December 31, 2024. This decrease in total assets was primarily due to a $14.1 million, or 22.4%, decrease in cash and cash equivalents, a $13.3 million, or 20.7%, decrease in loans held for sale, and an $8.3 million, or 1.6%, decrease in loans receivable, net of allowance for credit losses. The largest decreases within the loan portfolio occurred in commercial real estate loans which decreased $9.6 million, or 3.2%, commercial business loans which decreased $8.9 million, or 7.8%, and one-to-four family non-owner occupied loans which decreased $946,000, or 2.8%. Partially offsetting these decreases were construction loans which increased $4.2 million, or 22.7%, one-to-four family owner occupied loans which increased $4.1 million, or 15.9%, and home equity loans which increased $2.8 million, or 49.3%. Also contributing to the decrease in assets was a $208,000, or 12.5%, decrease in investment securities available for sale, and a $40,000, or 2.5%, decrease in premises and equipment, net. Partially offsetting the decrease in total assets was a $686,000, or 31.0%, increase in investment in Federal Home Loan Bank stock, at cost, a $301,000, or 3.9%, increase in prepaid expenses and other assets, a $227,000, or 5.7%, increase in accrued interest receivable, and a $30,000, or 0.7%, increase in bank-owned life insurance.

    Loans held for sale decreased $13.3 million, or 20.7%, from $64.3 million at December 31, 2024 to $50.9 million at March 31, 2025 as the Bank’s mortgage banking subsidiary, Quaint Oak Mortgage, LLC, originated $19.6 million of one-to-four family residential loans during the three months ended March 31, 2025 and sold $24.8 million of loans in the secondary market. The Bank’s commercial real estate subsidiary, Oakmont Commercial, LLC, originated $9.4 million of commercial real estate loans during the three months ended March 31, 2025 and sold $17.8 million of loans in the secondary market during this same period. Additionally, the Bank originated $4.9 million of SBA loans and sold $3.7 of loans in the secondary market in the same period.

    Total deposits decreased $45.7 million, or 8.3%, to $507.6 million at March 31, 2025 from $553.3 million at December 31, 2024. This decrease in deposits was primarily attributable to a decrease of $47.8 million, or 100.0%, in interest bearing checking accounts as the Company exited one of its correspondent banking relationships. Also contributing to the decrease in deposits was a decrease of $18.0 million, or 11.1%, in money market accounts, and a $62,000, or 12.6%, decrease in savings accounts. These decreases in deposits were partially offset by an increase of $19.0 million, or 6.7%, in certificates of deposit, and an increase of $1.1 million, or 1.9%, in non-interest bearing checking accounts.

    Total Federal Home Loan Bank (FHLB) borrowings increased $17.1 million, or 35.8%, to $65.0 million at March 31, 2025 from $47.9 million at December 31, 2024. During the period ended March 31, 2025, the Company borrowed $60.0 million of FHLB short-term borrowings, paid down $40.0 million of FHLB short-term borrowings, and paid down $2.9 million of FHLB long-term borrowings.

    Senior debt, net of unamortized debt issuance costs, increased $9.5 million, or 100.0% from none at December 31, 2024 as the Company entered into a Senior Unsecured Note Purchase Agreement with certain institutional accredited investors pursuant to which the Company issued an aggregate of $9.75 million in aggregate principal amount of Fixed Rate Unsecured Senior Notes due March 1, 2028 (the “Notes”) in a private placement. The Company issued to an accredited individual investor an additional $250,000 in principal amount of the Notes as of March 4, 2025 for a total of $10.0 million in aggregate principal amount. The Notes bear interest at a fixed annual rate of 11.00%, payable semi-annually in arrears on March 1 and September 1 of each year, beginning September 1, 2025. The maturity date of the Notes is March 1, 2028.

    Subordinated debt, net of unamortized debt issuance costs, decreased $14.0 million, or 63.6%, to $8.0 million at March 31, 2025 from $22.0 million at December 31, 2024 as the Company used the net proceeds from the sale of the Senior Debt Notes to repay a portion of the outstanding $14.0 million aggregate principal amount of its 8.5% Fixed Rate Subordinated Notes upon their maturity on March 15, 2025.

    Total stockholders’ equity from continuing operations decreased $353,000, or 0.7%, to $52.3 million at March 31, 2025 from $52.6 million at December 31, 2024. Contributing to the decrease were dividends paid of $341,000, and net loss for the period ended March 31, 2025 of $83,000. The decrease in stockholders’ equity was partially offset by amortization of stock awards and options under our stock compensation plans of $61,000, the reissuance of treasury stock under the Bank’s 401(k) Plan of $9,000, and other comprehensive income, net of $1,000.

    Non-performing loans at March 31, 2025 totaled $5.9 million, or 1.13%, of total loans receivable, net of allowance for credit losses, consisting of $5.4 million of loans on non-accrual status and $513,000 of loans 90-days or more delinquent. Non-accrual loans consist of one one-to-four family residential owner occupied loan, eight commercial real estate loans, and twelve commercial business loans. Included in the twelve commercial business loans is one pool of equipment loans. Loans 90-days or more past due include one one-to-four family residential owner occupied loan, one commercial real estate loan and two commercial business loans, all of which are still accruing. All non-performing loans are either well-collateralized or adequately reserved for. During the period ended March 31, 2025, seven commercial business loans totaling $419,000 that were previously on non-accrual were charged-off through the allowance for credit losses. Non-performing loans at December 31, 2024 totaled $5.7 million, or 1.07%, of total loans receivable, net of allowance for credit losses, consisting of $3.9 million of loans on non-accrual status and $1.8 million of loans 90-days or more delinquent. Non-accrual loans consist of one commercial real estate loan, and ten commercial business loans. Included in the ten commercial business loans is one pool of equipment loans. Loans 90-days or more past due include one one-to-four family residential owner occupied loan and two commercial real estate loans, all of which are still accruing. All non-performing loans are either well-collateralized or adequately reserved for. During the year ended December 31, 2024, 19 commercial business loans totaling $1.6 million, and one construction loan of $187,000, that were previously on non-accrual were charged-off through the allowance for credit losses.

    Quaint Oak Bancorp, Inc., a Financial Services Company, is the parent company for the Quaint Oak Family of Companies. Quaint Oak Bank, a Pennsylvania-chartered stock savings bank and wholly-owned subsidiary of the Company, is headquartered in Southampton, Pennsylvania and conducts business through three regional offices located in the Delaware Valley, Lehigh Valley and Philadelphia markets. Quaint Oak Bank’s subsidiary companies include Quaint Oak Abstract, LLC, Quaint Oak Insurance Agency, LLC, Quaint Oak Mortgage, LLC, and Oakmont Commercial, LLC, a specialty commercial real estate financing company. All companies are multi-state operations.

    Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company’s market area; changes in asset quality, general economic conditions as well as other factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

    In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Companys loan, investment and mortgage-backed securities portfolios; geographic concentration of the Companys business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Companys financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Companys operations, markets, products, services and fees.

    QUAINT OAK BANCORP, INC.
    Consolidated Balance Sheets
    (In Thousands)
          At March 31,       At December 31,  
          2025       2024  
          (Unaudited)       (Unaudited)  
    Assets                
    Cash and cash equivalents   $ 48,859     $ 62,989  
    Investment in interest-earning time deposits     912       912  
    Investment securities available for sale at fair value     1,458       1,666  
    Loans held for sale     50,946       64,281  
    Loans receivable, net of allowance for credit losses (2025: $6,388; 2024: $6,476)     526,374       534,693  
    Accrued interest receivable     4,188       3,961  
    Investment in Federal Home Loan Bank stock, at cost     2,900       2,214  
    Bank-owned life insurance     4,477       4,447  
    Premises and equipment, net     1,586       1,626  
    Goodwill     515       515  
    Other intangible, net of accumulated amortization     65       77  
    Prepaid expenses and other assets     8,088       7,787  
    Total Assets   $ 650,368     $ 685,168  
                     
    Liabilities and StockholdersEquity                
    Liabilities                
    Deposits                
    Non-interest bearing   $ 60,928     $ 59,783  
    Interest-bearing     446,654       493,469  
    Total deposits     507,582       553,252  
    Federal Home Loan Bank short-term borrowings     65,000       45,000  
    Federal Home Loan Bank long-term borrowings           2,855  
    Subordinated debt     8,000       22,000  
    Senior debt     9,487        
    Accrued interest payable     773       937  
    Advances from borrowers for taxes and insurance     2,044       3,122  
    Accrued expenses and other liabilities     5,218       5,385  
    Total Liabilities     598,104       632,551  
                     
    Total StockholdersEquity     52,264       52,617  
    Total Liabilities and StockholdersEquity   $ 650,368     $ 685,168  
    QUAINT OAK BANCORP, INC.
    Consolidated Statements of Operations
    (In Thousands, except share data)
        For the Three Months Ended March 31,  
        2025     2024  
        (Unaudited)  
    Interest and Dividend Income                
    Interest on loans, including fees   $ 9,523     $ 11,232  
    Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock     403       890  
    Total Interest and Dividend Income     9,926       12,122  
                     
    Interest Expense                
    Interest on deposits     4,729       5,986  
    Interest on Federal Home Loan Bank short-term borrowings     479        
    Interest on Federal Home Loan Bank long-term borrowings     5       242  
    Interest on Federal Reserve Bank short-term borrowings     1        
    Interest on subordinated debt     452       484  
    Interest on senior debt     116        
    Total Interest Expense     5,782       6,712  
    Net Interest Income     4,144       5,410  
    Provision for Credit LossesLoans     326       1,084  
    Provision for Credit LossesUnfunded Commitments     115       52  
    Net Interest Income after Provision for Credit Losses     3,703       4,274  
                     
    Non-Interest Income                
    Mortgage banking, equipment lending and title abstract fees     146       206  
    Real estate sales commissions, net           4  
    Insurance commissions     185       152  
    Other fees and services charges     32       227  
    Net loan servicing income     4       2  
    Income from bank-owned life insurance     30       28  
    Net gain on sale of loans     1,056       935  
    Gain on the sale of SBA loans     307       28  
    Total Non-Interest Income     1,760       1,582  
                     
    Non-Interest Expense                
    Salaries and employee benefits     3,650       3,663  
    Directors’ fees and expenses     65       51  
    Occupancy and equipment     431       250  
    Data processing     402       263  
    Professional fees     223       141  
    FDIC deposit insurance assessment     121       173  
    Advertising     99       86  
    Amortization of other intangible     12       12  
    Other     541       486  
    Total Non-Interest Expense     5,544       5,125  
    (Loss) income from continuing operations before income taxes     (81 )     731  
    Income Taxes     2       264  
    Net (loss) income from continuing operations     (83 )     467  
    Income from discontinued operations           564  
    Income tax from discontinued operations           158  
    Net income from discontinued operations           406  
    Net (Loss) Income   $ (83 )   $ 873  
        Three Months Ended March 31,  
        2025     2024  
        (Unaudited)  
    Per Common Share Data:                
    Earnings per share from continuing operations – basic   $ (0.03 )   $ 0.20  
    Earnings per share from discontinued operations – basic   $     $ 0.16  
    Earnings per share, net – basic   $ (0.03 )   $ 0.36  
    Average shares outstanding – basic     2,626,967       2,450,814  
    Earnings per share from continuing operations – diluted   $ (0.03 )   $ 0.20  
    Earnings per share from discontinued operations – diluted   $     $ 0.16  
    Earnings per share, net – diluted   $ (0.03 )   $ 0.36  
    Average shares outstanding – diluted     2,626,967       2,450,814  
    Book value per share, end of period   $ 19.89     $ 20.84  
    Shares outstanding, end of period     2,627,397       2,407,048  
        Three Months Ended March 31,  
        2025     2024  
        (Unaudited)  
    Selected Operating Ratios:                
    Average yield on interest-earning assets     6.30 %     6.63 %
    Average rate on interest-bearing liabilities     4.17 %     4.57 %
    Average interest rate spread     2.13 %     2.06 %
    Net interest margin     2.63 %     2.96 %
    Average interest-earning assets to average interest-bearing liabilities     113.59 %     124.57 %
    Efficiency ratio     70.40 %     73.29 %
                     
    Asset Quality Ratios (1):                
    Non-performing loans as a percent of total loans receivable, net     1.13 %     1.28 %
    Non-performing assets as a percent of total assets     0.91 %     1.00 %
    Allowance for credit losses as a percent of non-performing loans     107.45 %     97.24 %
    Allowance for credit losses as a percent of total loans receivable, net     1.20 %     1.23 %
    Texas Ratio (2)     9.22 %     11.96 %

      
    (1)  Asset quality ratios are end of period ratios.
    (2)  Total non-performing assets divided by tangible common equity plus the allowance for credit losses.

    The MIL Network

  • MIL-OSI: Altai Announces Initiation of Strategic Review

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 01, 2025 (GLOBE NEWSWIRE) — Altai Resources Inc. (TSXV: ATI) (“Altai” or the “Company”) announced today that the Board of Directors (the “Board”) has initiated a strategic review process to identify, evaluate, and pursue a range of potential strategic alternatives with the goal of maximizing shareholder value and liquidity (the “Strategic Review”). As part of the Strategic Review, the potential strategic alternatives could include, amongst other things, either individually or in combination, the sale of part, or all, of the assets of the Company, the sale of the Company, a merger or other business combination with another party, a special cash distribution, a wind-up, or any other strategic transaction.

    Kursat Kacira, Altai’s Chairman & CEO/President and the Company’s largest shareholder, with a combined direct and indirect ownership of 10,726,157 common shares, representing approximately 19.1% of the total issued and outstanding common shares of the Company, will lead the Strategic Review.

    The Company has not established a definitive timeline to complete the Strategic Review, or any transaction, and no decisions have been reached at this time. As such, the process is subject to unknown variables including the costs, structure, terms, timing, and outcome. There can be no assurance that the Strategic Review will result in any transaction or initiative or, if a transaction or initiative is undertaken, as to the terms or timing of such a transaction or initiative and its impact on the financial condition, liquidity, and results of operations of the Company. The Company does not intend to disclose further developments in connection with the Strategic Review until it is determined that disclosure is appropriate or necessary.

    ABOUT ALTAI
    Altai Resources Inc. is a Toronto, Ontario based resource company with a producing oil property in Alberta, an exploration gold property in Quebec, and a Canadian investment portfolio comprised of cash, cash equivalents, and marketable securities. Additional information about Altai is available on SEDAR+ at www.sedarplus.ca and on Altai’s website at www.altairesources.com.

    For further information, please contact:
    Kursat Kacira, Chairman & CEO/President
    T: (647) 282-8324, E: kursatkacira@altairesources.ca

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

    The MIL Network

  • MIL-OSI USA: Congressman Gabe Amo, Congresswoman Lizzie Fletcher, and Congressman Mike Quigley Introduce Legislation To Reverse Trump Administration Decision Allowing Federal Agencies To Ban Public Input

    Source: US Congressman Gabe Amo (Rhode Island 1st District)

    Washington, D.C.—Today, Congresswoman Lizzie Fletcher (TX-07), Congressman Mike Quigley (IL-05), and Congressman Gabe Amo (RI-01) introduced a resolution opposing the U.S. Department of Health and Human Services’ (HHS) proposal to limit public notice and public comment for proposed rules. Senator Ron Wyden (D-OR), Senator Ed Markey (D-MA), and Senator Angus King (I-ME) introduced this legislation in the U.S. Senate today.

    “For more than half a century, the Department of Health and Human Services — under Democratic and Republican administrations alike — has allowed the American people to weigh in on proposed rules that would affect public property, loans, grants, benefits, and contracts,” said Congressman Gabe Amo. “Secretary Kennedy committed to ‘radical transparency’ during his confirmation hearing, yet his decision to end this public input would eviscerate transparency, undermine public participation, and allow the department to operate in secret. President Trump and Secretary Kennedy’s push to rescind basic transparency in public health begs the question — what are they trying to hide?”

    “For decades, HHS has engaged with the public about policies that directly affect their lives and livelihoods,” said Congresswoman Lizzie Fletcher.  “As a result of this input, Democratic and Republican administrations alike have modified proposed rules in response to the issues and concerns exposed through this public comment process, often clarifying a rule’s intended meaning and correcting unforeseen errors.  Banning public comment not only reduces transparency and accountability in the HHS decision-making process, creating uncertainty for health care providers, research institutions, and advocacy groups in grantmaking processes, it also excludes the people from their government. That’s why I am glad to introduce this legislation in the House with Congressman Mike Quigley and Congressman Gabe Amo in partnership with Senator Ron Wyden, Senator Ed Markey, and Senator Angus King to reaffirm the importance of public engagement in our health care and of the people in our government.”

    “For an administration that claims to be transparent, Trump and RFK’s choice to insulate HHS from public input is repugnant,” said Congressman Mike Quigley. “This change reverses years of HHS precedent. As Founder of the Transparency Caucus, I’m proud to lead this resolution to preserve public involvement in HHS decisions.”

    In 1971, HHS adopted the Richardson Waiver to ensure that public notice and comment procedures for HHS would include rules related to public property, loans, grants, benefits, and contracts.  The 1971 directive built on legal requirements laid out by the Administrative Procedure Act of 1946 (APA) to allow the public greater input in agency matters.  On March 3, HHS Secretary Robert F. Kennedy announced that HHS would rescind this longstanding policy to solicit public comments on proposed rules, effective immediately.

    AFSCME, AFT: Education, Healthcare, Public Services, AI Arthritis, Alliance for Aging Research, America’s Essential Hospitals, American Academy of Family Physicians (AAFP), American Academy of Pediatrics (AAP), American Cancer Society Cancer Action Network, American College of Obstetricians and Gynecologists (ACOG), American Federation for Aging Research, American Kidney Fund, American Lung Association, Arthritis Foundation, Association of American Medical Colleges, Asthma and Allergy Foundation of America, CancerCare, Caring Across Generations, Center for Medicare Advocacy, Center for Reproductive Rights, Center for Reproductive Rights, Children’s Hospital Association, Community Catalyst, Cystic Fibrosis Foundation, Daily Voice National, Epilepsy Foundation of America, Families USA, Geriatric Circle, Gerontological Society of America, Gillette Children’s, Immune Deficiency Foundation, Justice in Aging, Large Urology Group Practice Association, LeadingAge, Medicare Rights Center, Muscular Dystrophy Association, National Bleeding Disorders Foundation, National Bleeding Disorders Foundation, National Consumer Voice for Quality Long-Term Care, National Family Planning & Reproductive Health Association, National Health Council, National Health Law Program, National Kidney Foundation, National MS Society, National Nurses United, National Organization for Rare Disorders, National Partnership for Healthcare and Hospice Innovation, National Partnership for Women & Families, National Patient Advocate Foundation, National Rural Health Association, National Women’s Law Center Action Fund, PHI National, Planned Parenthood Federation of America, Protect Our Care, SEIU, Susan G. Komen, and the United Steelworkers (USW) have endorsed the resolution.

    To read the full text of the resolution, click here.

    MIL OSI USA News

  • MIL-OSI: OptimizeRx Releases 2025 Environmental, Social, and Governance (ESG) Report

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., May 01, 2025 (GLOBE NEWSWIRE) — OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, has published its Environmental, Social and Governance (ESG) report for 2025.

    As a company focused on optimizing meaningful engagement opportunities at critical junctures of the healthcare journey, we remain dedicated to aligning our mission with our responsibilities as a corporate citizen.

    “Our stakeholders continue to expect us to transparently disclose our commitment to environmental, social, and governance responsibilities,” stated Marion Odence-Ford, Chief Legal Officer & Chief Human Resources Officer. “During calendar year 2024, we enhanced our disclosures on a wide range of ESG topics. We improved our Institutional Shareholder Services (ISS) ESG rating, moving from the seventh decile to the first decile and earning prime status. We are proud of our achievements and look forward to realizing more progress in the years to come.”

    ESG Report Highlights:

    Governance:

    • The pursuit of responsible governance is a top-down endeavor, and the Company’s Board of Directors and the Nominating & Governance Committee have worked closely with the Executive Team to ensure our business strategies and practices align with our corporate governance policies.
    • Our annual double-materiality survey has identified a clear three-year trend in the topics our stakeholders care about most. These topics are clustered in three main areas:
      • Data Protection: Customer Privacy and Data & Cybersecurity;
      • Ethics and Governance: Business Ethics, Responsible Marketing & Advertising, Corporate Governance, and Anti-Competitive Behavior; and
      • Human Capital: Human Capital & Resources, Labor Practices & Management, and Talent Acquisition & Retention.

    Planet:

    • This year’s ESG Report continues to build on past successes, adding additional detail in the form of a methodology appendix, more comprehensive data on Scope 1 emissions, and reporting on additional individual greenhouse gases.

    People:

    • OptimizeRx continues to believe that impartiality in employment practices is an essential part of our business and is necessary to contribute to a culture of respect. We provide merit-based opportunities to all individuals without regard to age, race, color, national origin, ancestry, citizenship, religion, gender, sexual orientation or gender identity.
    • We prioritize recruiting, retaining, and incentivizing a highly qualified workforce as the success of OptimizeRx is dependent on the skills, experience, and efforts of our employees. We also believe that contributions stemming from each employee’s cultural, economic and social background, experience, and thought are essential in making our Company stronger. Collaboration drawn from a range of perspectives enhances decision-making, sparks innovation, and drives better business outcomes. An inclusive culture boosts employee engagement, attracts top talent, and reduces turnover which furthers long-term success.
    • This year, the Company introduced the SPARK employee recognition program to recognize and celebrate Sustained Excellence, Positive Impact, Accountability, Resilience and Kindness.
    • Another recent initiative includes a Competency Model to clearly define competency levels and expectations for skills, knowledge and experience, and to provide department-specific career progression visuals, to guide each employee’s growth and success.

    Prosperity:

    • We remain vigilant in our quest to turn healthcare challenges into opportunities. Not only do these opportunities present us with new ways to grow and learn, but also to do better for our customers, employees, and the patients we impact, because increasing stakeholder value also drives shareholder value.
    • The Company has seen strong adoption of its Dynamic Audience Activation Platform (DAAP), an AI-enabled platform that delivers predictive and privacy-safe marketing solutions that connects life sciences, HCPs and patients across the most robust network of personal and clinical platforms.
    • The 2024 integration of the consumer-focused solutions of Healthy Offers, Inc. (dba Medicx Health), strengthens our ability to deliver on our mission across expanded stakeholder groups with our increased data and analytics capabilities.

    To read OptimizeRx’s full ESG report, please visit the Company’s governance page on its website or click here.

    About OptimizeRx
    OptimizeRx is a leading healthcare technology company that’s redefining how life science brands connect with patients and healthcare providers. Our platform combines innovative AI-driven tools like the Dynamic Audience Activation Platform (DAAP) and Micro-Neighborhood Targeting (MNT) to deliver timely, relevant, and hyper-local engagement. By bridging the gap between HCP and DTC strategies, we empower brands to create synchronized marketing solutions that drive faster treatment decisions and improved patient outcomes.

    Our commitment to privacy-safe, patient-centric technology ensures that every interaction is designed to make a meaningful impact, delivering life-changing therapies to the right patients at the right time. Headquartered in Waltham, Massachusetts, OptimizeRx partners with some of the world’s leading pharmaceutical and life sciences companies to transform the healthcare landscape and create a healthier future for all.

    Important Cautions Regarding Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates”, “believes”, “estimates”, “expects”, “forecasts”, “intends”, “plans”, “projects”, “targets”, “designed”, “could”, “may”, “should”, “will” or other similar words and expressions are intended to identify these forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s growth, business plans, future performance. These forward-looking statements are based on the Company’s current expectations and assumptions regarding the Company’s business, the economy, and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other risks summarized in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, its subsequent Quarterly Reports on Form 10-Q, and its other filings with the Securities and Exchange Commission.

    OptimizeRx Contact 
    Andy D’Silva, SVP Corporate Finance   
    adsilva@optimizerx.com   
      
    Investor Relations Contact
    Steven Halper
    LifeSci Advisors, LLC
    shalper@lifesciadvisors.com

    The MIL Network

  • MIL-OSI: Zoom to Release Financial Results for the First Quarter of Fiscal Year 2026

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., May 01, 2025 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM) today announced it will release its financial results for the first quarter of fiscal year 2026 on Wednesday, May 21, 2025, after the market closes.

    A live Zoom Webinar of the event can be accessed at 2:00 pm PT / 5:00 pm ET through Zoom’s investor relations website at https://investors.zoom.com. A replay will be available approximately two hours after the conclusion of the live event.

    About Zoom
    Zoom’s mission is to provide an AI-first work 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 experience 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.

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

    Investor Relations
    Charles Eveslage
    Head of Investor Relations for Zoom
    investors@zoom.us

    The MIL Network

  • MIL-OSI: Draganfly Announces Proposed Public Offering of Common Shares & Warrants

    Source: GlobeNewswire (MIL-OSI)

    Saskatoon, SK., May 01, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), a drone solutions, and systems developer, today announced it has commenced an underwritten public offering in the United States (the “Offering”). The Offering consists of units of common shares (or pre-funded warrants in lieu thereof) and warrants to purchase common shares and is subject to market conditions.

    Maxim Group LLC is acting as sole book-running manager for the Offering.

    Draganfly currently intends to use the net proceeds from the Offering for general corporate purposes, including to fund its capabilities to meet demand for its new products including growth initiatives and/or for working capital requirements including the continuing development and marketing of the Company’s core products, potential acquisitions and research and development.

    The Offering is subject to customary closing conditions including the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange and notification to The Nasdaq Stock Market. The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or the actual size or terms of the Offering.

    The Offering is being made pursuant to an effective shelf registration statement on Form F-10, as amended, (File No. 333-271498) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on July 5, 2023 and the Company’s Canadian short form base shelf prospectus dated June 30, 2023 (the “Base Shelf Prospectus”). Draganfly will offer and sell the securities in the United States only. No securities will be offered or sold to Canadian purchasers.

    A preliminary prospectus supplement and accompanying Base Shelf Prospectus relating to the Offering and describing the terms thereof will be filed with the applicable securities commissions in Canada and with the SEC in the United States and will be available for free by visiting the Company’s profiles on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca or the SEC’s website at www.sec.gov, as applicable. Copies of the prospectus supplement and accompanying Base Shelf Prospectus relating to the Offering may be obtained, when available, by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com. The final terms of the Offering will be disclosed in a final prospectus supplement to be filed with the securities regulatory authorities in the Canadian provinces of British Columbia, Ontario and Saskatchewan and the SEC.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

    Media Contact
    media@draganfly.com

    Company Contact
    Email: info@draganfly.com

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements, based as they are on the current expectations of management, inherently involve numerous important risks, uncertainties and assumptions, known and unknown. In this news release, such forward-looking statements include, but are not limited to, statements regarding the timing, size and expected gross proceeds of the Offering, the satisfaction of customary closing conditions related to the Offering and sale of securities, the intended use of proceeds, and Draganfly’s ability to complete the Offering. Closing of the Offering is subject to numerous factors, many of which are beyond Draganfly’s control, including but not limited to, the failure of the parties to satisfy certain closing conditions, and other important factors disclosed previously and from time to time in Draganfly’s filings with the securities regulatory authorities in the Canadian provinces of British Columbia, Ontario and Saskatchewan and with the SEC. Actual future events may differ from the anticipated events expressed in such forward-looking statements. Draganfly believes that expectations represented by forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. The reader should not place undue reliance, if any, on any forward-looking statements included in this news release. These forward-looking statements speak only as of the date made, and Draganfly is under no obligation and disavows any intention to update publicly or revise such statements as a result of any new information, future event, circumstances or otherwise, unless required by applicable securities laws.‎ Investors are cautioned not to unduly rely on these forward-looking statements and are encouraged to read the Offering documents, as well as Draganfly’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

    The MIL Network

  • MIL-OSI: iRhythm Launches Zio® Long-Term Continuous Monitoring Service in Japan as the Zio® ECG Recording and Analysis System, Advancing AI-Powered Arrhythmia Detection

    Source: GlobeNewswire (MIL-OSI)

    • iRhythm Zio®Long-Term Continuous Monitoring (LTCM) system — commercially introduced in Japan as the Zio®ECG Recording and Analysis System — brings AI-powered, continuous, uninterrupted ECG monitoring for up to 14 days to Japan
    • Launch is timely amid a growing demand for early, accurate detection of arrhythmias in Japan, the second largest ambulatory cardiac monitoring market in the world, where the prevalence is expected to rise alongside an aging population1-3

    SAN FRANCISCO, May 01, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC) today announced the commercial launch in Japan of its Zio® long-term continuous ECG monitoring (LTCM) system, commercially introduced in this market as the Zio® ECG Recording and Analysis System. The system provides up to 14 days of continuous, uninterrupted ECG monitoring and leverages a deep-learned artificial intelligence (AI) algorithm approved by Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) – and represents a significant advancement over other ambulatory cardiac monitoring options in Japan, including commonly used wired Holter monitors, which capture only 24 to 48 hours of data and other patch-based services that monitor only up to 7 days.

    “We are honored to introduce our AI-powered Zio ECG Recording and Analysis System that provides up to 14 days of continuous, uninterrupted cardiac monitoring to Japan, where we see a meaningful opportunity to help advance arrhythmia detection,” said Quentin Blackford, President and Chief Executive Officer of iRhythm. “Together with our trusted distribution partner, Senko Medical Instrument, we are committed to expanding access to advanced cardiac monitoring that supports clinical excellence and aligns with Japan’s dedication to high-quality, patient-centered care.”

    Advancing Arrhythmia Detection in Japan

    The Zio ECG Recording and Analysis System consists of a prescription-only, patch-based ECG monitoring device (Zio monitor, iRhythm’s latest-generation ECG patch), worn for up to 14 days, and the ZEUS (Zio ECG Utilization Software) system.

    The unique attributes of the Zio ECG Recording and Analysis System offer meaningful advantages for patients and clinicians:

    Zio monitor (Patch ECG Device): Improving Patient Monitoring Experience

    • The latest-generation patch ECG is thinner, lighter, and smaller—designed for comfortable, discreet wear, ease of use,4 and patient satisfaction5,6
    • Enables up to 14 days of continuous, uninterrupted ECG monitoring
    • Demonstrates 99% patient compliance with prescribed wear time6-8 and 99% analyzable data, delivering high-quality, actionable data6,10,11

    Zio Service (End-to-End Monitoring System): Combining Advanced AI with Human Expertise

    • PMDA-approved, deep-learned AI algorithm detects 13 arrhythmia types, as well as sinus rhythm and artifact, and is clinically proven to perform at the level of cardiologists11-14
    • End-of-wear reports are reviewed and validated by certified cardiographic technicians (CCTs), with 99% physician agreement6,8
    • Zio ECG Recording and Analysis System is associated with the highest diagnostic yield and lowest likelihood of retesting compared to other monitoring services, including other LTCMs and 24- to 48-hour duration Holter monitoring services6,8,15-20
    • In clinical settings, the Zio LTCM service may help reduce misinterpretation of ECG data and improve clinical efficiency12

    Zio® monitor by iRhythm Technologies,
    part of the Zio®ECG Recording and Analysis System

    “The Zio service represents a new step forward in how we monitor for arrhythmias in Japan,” said Dr. Kohei Yamashiro, Vice President and Director of the Heart Rhythm Center at Takatsuki General Hospital (Osaka Prefecture), the first hospital in Japan to introduce the Zio ECG Recording and Analysis System. “Its ease of use, extended monitoring period, and clear reporting provide important benefits for both patients and clinicians.”

    Clinically Proven Performance

    The clinical value of the Zio LTCM service has been demonstrated in a robust, growing body of clinical evidence. The Cardiac Ambulatory Monitor EvaLuation of Outcomes and Time to Events (CAMELOT) study, published in the American Heart Journal, found that Zio LTCM service was associated with the highest yield of specified arrhythmia diagnosis and the lowest likelihood of repeat testing compared to all other monitoring services.

    iRhythm’s comprehensive clinical evidence, encompassing more than 125 original research manuscripts21 and insights derived from over 2 billion hours of curated heartbeat data9 and more than 10 million patient reports posted since the company’s inception, underscore the company’s ongoing commitment to expanding evidence that supports improved patient outcomes.

    “The Zio long-term continuous monitoring service offers a clinically validated approach to arrhythmia detection by combining advanced AI with expert clinical review to support accurate and timely diagnoses,” said Dr. Mintu Turakhia, iRhythm Chief Medical Officer, Chief Scientific Officer, and EVP of Product Innovation. “As the need for effective long-term monitoring grows, we believe the introduction of Zio LTCM in Japan presents an opportunity to enhance patient care and support evolving clinical needs in cardiac monitoring—an impact also recognized by the Japanese Heart Rhythm Society.”

    Cardiac Arrhythmias and Prevalence in Japan

    A cardiac arrhythmia is a condition in which the heart beats too quickly, too slowly, or irregularly due to abnormal electrical impulses. If undetected and untreated, some arrhythmias can damage the heart, brain, or other organs and lead to an increased risk of stroke and death.22-24

    These potential complications make accurate, timely arrhythmia detection and diagnosis critical to improving patient outcomes and quality of life.

    The prevalence of cardiac arrhythmias continues to rise globally, and Japan is the second largest ambulatory cardiac monitoring market in the world with an estimated 1.6 million tests prescribed annually. This number is expected to continue to increase based on stroke and cardiovascular disease burden in Japan’s aging population.1-3

    Availability in Japan
    Zio® ECG Recording and Analysis System will be available to healthcare customers beginning May 2025, with nationwide availability anticipated by July 2025, through Senko Medical Instrument, iRhythm’s exclusive distribution partner in Japan.

    Outside of Japan, iRhythm offers its Zio® portfolio of cardiac monitoring solutions in Austria, the Netherlands, Spain, Switzerland, the United States, and the UK – and remains dedicated to bringing access to its advanced cardiac monitoring to even more patients, clinicians and healthcare systems around the world.

    About iRhythm Technologies, Inc.
    iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more about iRhythm and the Zio® LTCM service in Japan, please visit irhythmtech.com/jp/ja. For additional information about iRhythm, please visit its corporate website at irhythmtech.com.

    Forward-Looking Statements 
    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future actions or operating or financial performance.  In particular, these include statements regarding the Japanese market opportunity, our ability to penetrate the Japanese market, and expansion of patient access to our products and services in Japan. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled “Risk Factors” and elsewhere in our filings made with the Securities and Exchange Commission, including those on the Form 10-Q expected to be filed on or about May 1, 2025. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. iRhythm disclaims any obligation to update these forward-looking statements. 

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    —-
    Footnotes

    1. Irie S, Tada H. The Relationship between Holter Electrocardiography and Atrial Fibrillation Diagnosis Using Real-World Data in Japan. Int Heart J. 2023;64(2):178-187.
    2. Matsuda S. Health Policy in Japan – Current Situation and Future Challenges. JMA Journal, 2019.
    3. Annual Pharmaceutical Production Statistics, Ministry of Health, Labour, and Welfare (“MHLW”).
    4. Data on file. iRhythm Technologies, 2023.
    5. Zio monitor Instructions for Use. iRhythm Technologies, 2023.
    6. Based on US data.
    7. Data on file. iRhythm Technologies, 2022.
    8. Zio service provides continuous, uninterrupted recording and a comprehensive end-of-wear report.
    9. Data on file. iRhythm Technologies, 2024.
    10. Analyzable time is based off median values for a 14-day prescription
    11. Data on file. iRhythm Technologies, 2020.
    12. Hannun et al. Cardiologist-level arrhythmia detection and classification in ambulatory electrocardiograms using a deep neural network. Nat Med. 2019;25:65-69. https://doi.org/10.1038/s41591-018-0268-3
    13. Deep learned algorithm is only available in the United States, European Union, Switzerland, United Kingdom, and Japan.
    14. FDA 510K clearance, CE mark, UKCA mark, and PMDA-approval.
    15. Reynolds et al. Comparative effectiveness and healthcare utilization for ambulatory cardiac monitoring strategies in Medicare beneficiaries. Am Heart J. 2024;269:25–34. https://doi.org/10.1016/j.ahj.2023.12.002
    16. Diagnostic yield was assessed based upon the evaluation of specified arrhythmias, which refer to an arrhythmia encounter diagnosis as per Hierarchical Condition Categories (HCC) 96.
    17. Based on previous generation Zio XT device data. Zio monitor utilizes the same operating principles and ECG algorithm. Additional data on file.
    18. Zio LTCM service refers to Zio XT and Zio monitor service.
    19. Contraindications: Do not use the Zio monitor for critical care patients or for patients with symptomatic episodes where instance variations in cardiac performance could result in immediate danger to the patients or when real-time or in-patient monitoring should be prescribed. (Refer to the Zio monitor Instructions for Use for the full list of contraindications)
    20. Zio monitor and ZEUS are Japan PMDA approved.
    21. Data on file. iRhythm Technologies, 2025.
    22. Ataklte et al. Meta-analysis of ventricular premature complexes and their relation to cardiac mortality in general populations. The American Journal of Cardiology. 2013;112(8):1263-1270. doi:10.1016/j.amjcard.2013.05.065
    23. Lin et al. Long-term outcome of non-sustained ventricular tachycardia in structurally normal hearts. PLOS ONE. 2016;11(8). doi:10.1371/journal.pone.0160181
    24. Wolf et al. Atrial fibrillation as an independent risk factor for stroke: The Framingham Study. Stroke. 1991;22(8):983-988. doi:10.1161/01.str.22.8.983

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ffe8ed2-1063-4455-8784-d0278fd46373

    The MIL Network

  • MIL-OSI: Runway Growth Finance Corp. Reschedules Release of First Quarter 2025 Financial Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    MENLO PARK, Calif., May 01, 2025 (GLOBE NEWSWIRE) — Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that it has rescheduled its previously announced release of first quarter 2025 financial results to after market close on Monday, May 12, 2025. Runway Growth will now host a conference call and simultaneous webcast to discuss its first quarter 2025 financial results on a conference call that day at 2:00 p.m. PT (5:00 p.m. ET).

    To participate in the conference call or webcast, participants should register online at the Runway Growth Investor Relations website. Participants are requested to register a day in advance or at a minimum 15 minutes before the start of the call. The earnings call can also be accessed through the following links:

    A replay of the webcast will be available two hours after the call and archived on the same web page for 90 days.

    About Runway Growth Finance Corp.
    Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment adviser that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.

    Forward-Looking Statements
    Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    IR Contacts:
    Taylor Donahue, Prosek Partners, rway@prosek.com
    Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

    The MIL Network

  • MIL-OSI USA: Jayapal Leads 142 Members in Demanding Answers Regarding the Revocation of Student Visas

    Source: United States House of Representatives – Congresswoman Pramila Jayapal (7th District of Washington)

    WASHINGTON, DC — U.S. Representative Pramila Jayapal (WA-07), Ranking Member of the Immigration Integrity, Security, and Enforcement Subcommittee, is leading 142 Members of Congress in demanding answers regarding the termination of students’ legal status. Despite the Trump Administration’s claim last week that it would reverse course, only Immigration and Customs Enforcement (ICE) has made any policy change.  While students are no longer immediately deportable, they will be unable to return to the United States once they go home after the semester ends, as the State Department is not restoring students’ visa status. 

    “This is not about national security. It is about using immigration enforcement as a weapon to stifle political dissent, restrict due process, and enforce an exclusionary and nativist vision of America that runs counter to everything our institutions of higher learning stand for,” wrote the Members. “Across the country, students are being picked up – in some cases by masked immigration agents in unmarked cars – and being held in detention facilities with no warning and limited information as to why they are being deported.”

    According to recent reporting, more than 1,800 students and recent graduates across 280 colleges and universities have had their visas revoked. Since Trump took office, the Department of Homeland Security (DHS) has also confirmed that at least 4,736 have had their legal status terminated in the Student and Exchange Visitor Information System (SEVIS). However, DHS does not have the authority to terminate this legal status except under very specific circumstances, none of which have been met in the vast majority of these cases.

    “Our campuses have been spaces where students and scholars from around the world come together to challenge assumptions, push the boundaries of knowledge, and foster the innovation that has made our country a global leader,” continued the Members. “But today, the Trump administration’s heavy-handed and politically motivated immigration enforcement is turning university campuses into places of fear, rather than learning, and these actions deter students from coming to study at U.S. institutions.”

    Reporting has also shown that the State Department has been using Artificial Intelligence (AI) tools to identify students to target through their social media accounts. This aspect is especially troubling as social media accounts may not feature students’ names, and AI facial recognition is often prone to mistakes, at significantly higher rates when identifying people of color.

    The full text of the letter can be read here. 

    The letter was signed by Pramila Jayapal (WA-07), Jamie Raskin (MD-08), Gabe Amo (RI-01), Yassamin Ansari (AZ-03), Jake Auchincloss (MA-04), Becca Balint (VT-At Large), Nanette Barragán (CA-44), Joyce Beatty (OH-03), Wesley Bell (MO-01), Ami Bera (CA-06), Donald S. Beyer, Jr. (VA-08), Suzanne Bonamici (OR-01), Shontel Brown (OH-11), Julia Brownley (CA-26), Nikki Budzinski (IL-13), Salud Carbajal (CA-24), André Carson (IN-07), Troy Carter (LA-02), Greg Casar (TX-35), Sean Casten (IL-06), Kathy Castor (FL-14), Joaquin Castro (TX-20), Judy Chu (CA-28), Gilbert Cisneros (CA-31), Yvette Clarke (NY-09), Emanuel Cleaver (MO-05), Steve Cohen (TN-09), Gerald Connolly (VA-11), J. Luis Correa (CA-46), Angie Craig (MN-02), Jason Crow (CO-06), Danny K. Davis (IL-07), Madeleine Dean (PA-04), Diana DeGette (CO-01), Rosa DeLauro (CT-03), Suzan DelBene (WA-01), Chris Deluzio (PA-17), Mark DeSaulnier (CA-10), Maxine Dexter (OR-03), Lloyd Doggett (TX-37), Veronica Escobar (TX-16), Adriano Espaillat (NY-13), Dwight Evans (PA-03), Cleo Fields (LA-06), Lizzie Fletcher (TX-07), Bill Foster (IL-11), Valerie Foushee (NC-04), Laura Friedman (CA-30), Maxwell Frost (FL-10), John Garamendi (CA-08), Jesús “Chuy” García (IL-04), Robert Garcia (CA-42), Sylvia Garcia (TX-29), Jimmy Gomez (CA-34), Maggie Goodlander (NH-02), Al Green (TX-09), Jahana Hayes (CT-05), Jim Himes (CT-04), Steven Horsford (NV-04), Val Hoyle (OR-04), Jared Huffman (CA-02), Glenn Ivey (MD-04), Jonathan Jackson (IL-01), Sara Jacobs (CA-51), Henry C. “Hank” Johnson, Jr. (GA-04), Julie Johnson (TX-32), Sydney Kamlager-Dove (CA-37), William Keating (MA-09), Robin Kelly (IL-02), Timothy Kennedy (NY-26), Ro Khanna (CA-17), Raja Krishnamoorthi (IL-08), Rick Larsen (WA-02), John Larson (CT-01), Summer Lee (PA-12), Teresa Leger Fernandez (NM-03), Mike Levin (CA-49), Sam Liccardo (CA-16), Ted Lieu (CA-36), Zoe Lofgren (CA-18), Stephen Lynch (MA-08), Seth Magaziner (RI-02), John Mannion (NY-22), Doris Matsui (CA-07), Jennifer McClellan (VA-04), Betty McCollum (MN-04), James P. McGovern (MA-02), LaMonica McIver (NJ-10), Gregory Meeks (NY-05), Robert Menendez (NJ-08), Dave Min (CA-47), Gwen Moore (WI-04), Joe Morelle (NY-25), Kelly Morrison (MN-03), Seth Moulton (MA-06), Kevin Mullin (CA-15), Jerrold Nadler (NY-12), Eleanor Holmes Norton (DC), Alexandria Ocasio-Cortez (NY-14), Johnny Olszewski (MD-02), Ilhan Omar (MN-05), Jimmy Panetta (CA-19), Nancy Pelosi (CA-11), Scott Peters (CA-50), Brittany Pettersen (CO-07), Chellie Pingree (ME-01), Mark Pocan (WI-02), Ayanna Pressley (MA-07), Mike Quigley (IL-05), Delia Ramirez (IL-03), Emily Randall (WA-06), Luz Rivas (CA-29), Deborah Ross (NC-02), Andrea Salinas (OR-06), Linda Sánchez (CA-38), Mary Gay Scanlon (PA-05), Jan Schakowsky (IL-09), Robert C. “Bobby” Scott (VA-03), Terri Sewell (AL-07), Lateefah Simon (CA-12), Adam Smith (WA-09), Melanie Stansbury (NM-01), Marilyn Strickland (WA-10), Suhas Subramanyam (VA-10), Eric Swalwell (CA-14), Mark Takano (CA-39), Shri Thanedar (MI-13), Mike Thompson (CA-04), Bennie G. Thompson (MS-02), Dina Titus (NV-01), Rashida Tlaib (MI-12), Jill Tokuda (HI-02), Paul Tonko (NY-20), Lori Trahan (MA-03), Lauren Underwood (IL-14), Juan Vargas (CA-52), Gabe Vasquez (NM-02), Marc Veasey (TX-33), Nydia M. Velázquez (NY-07), Maxine Waters (CA-43), Bonnie Watson Coleman (NJ-12), and Nikema Williams (GA-05).

    It was also endorsed by AFL-CIO; American Friends of Combatants for Peace; American Friends Service Committee; Amnesty International USA; Asian Americans Advancing Justice | AAJC; Asian Americans Advancing Justice | Chicago; Asian Americans Advancing Justice Southern California; Brooklyn for Peace; Center for Constitutional Rights; Center for International Policy Advocacy; Coalition for Humane Immigrant Rights (CHIRLA); CODEPINK; Council on American-Islamic Relations (CAIR); DAWN; Friends Committee on National Legislation; Habonim Dror North America; Hindus for Human Rights; HIstorians for Peace and Democracy; IfNotNow Movement ; Illinois Coalition for Immigrant and Refugee Rights; IMEU Policy Project; Immigrant Legal Resource Center (ILRC); Indivisible; International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW); J Street; Jewish Voice for Peace Action; MADRE; Minnesota Peace Project; MPower Change Action Fund; National Immigrant Justice Center; New Jewish Narrative; Nonviolence International; OneAmerica; Partners for Progressive Israel; Peace Action; Presbyterian Church (USA), Office of Public Witness; Presidents’ Alliance on Higher Education and Immigration; Reconsider; Service Employees International Union (SEIU); Southeast Asia Resource Action Center (SEARAC); Stop AAPI Hate; United Church of Christ.

    Issues: Arts & Education, Immigration

    MIL OSI USA News

  • MIL-OSI: Asure Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Reports First Quarter 2025 Total Revenues of $34.9 million

    Recurring Revenues Grew 10% from Prior Year

    AUSTIN, Texas, May 01, 2025 (GLOBE NEWSWIRE) — Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenue of $34.9 million, up 10% year over year, excluding ERTC revenue up 13% from the prior year first quarter
    • Recurring revenue of $33.2 million versus $30.3 million during the prior year first quarter
    • Net loss of $2.4 million versus a net loss of $0.3 million during the prior year first quarter
    • EBITDA(1) of $4.1 million versus $4.4 million during the prior year first quarter
    • Adjusted EBITDA(1) of $7.3 million versus $6.8 million during the prior year first quarter
    • Gross profit of $24.6 million versus $22.6 million during the prior year first quarter
    • Non-GAAP gross profit(1) of $26.3 million (Non-GAAP gross margin(1) of 75%) versus $23.8 million (and 75% in prior year first quarter)

    Recent Business Highlights

    • New Payroll Tax Management solution launched which is designed specifically for large Canadian companies and global enterprises with employees in Canada. Our ability to serve enterprise clients with international workforces with this innovative solution creates further opportunities to grow our business and the seamless integration of payroll tax services into major platforms such as Workday, Oracle, and SAP is a key benefit. The Canadian payroll tax solution addresses critical compliance needs for organizations managing cross-border payroll processes, reducing complexity and ensuring accurate, timely filing.
    • In April 2025 we entered into a credit agreement primarily with MidCap Financial Trust, whereby the Company may borrow up to $60 million. At closing, which occurred on April 10, we received $20 million of gross proceeds.

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

    Management Commentary

    “We are excited to be off to a great start to 2025 with healthy results for our first quarter of 2025 with our revenues increasing 10% from the prior year first quarter. Our results were driven by strong performance coming from our Payroll Tax Management and initial contribution from our recently acquired product offerings,” said Asure Chairman and CEO Pat Goepel.

    “Our team is focused on continuing to execute our growth strategy. Our revenues are now more than 95% recurring, our contracted revenue backlog sits at an all-time high, and we believe that the investments we have made in the business will continue to drive greater adoption of our broadened product suite for the remainder of 2025.”

    Second Quarter 2025 and Full Year 2025 Revenue Guidance Ranges

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

    Guidance for 2025

    Guidance Range   Q2-2025   FY-2025
    Revenue $ 30.0 M – 32.0 M $ 134.0 M -138.0 M
    Adjusted EBITDA(1) $ 5.0 M -6.0 M   23% -24%
             

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

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

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

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

    Conference Call Details

    Asure management will host a conference call on Thursday, May 1, 2025, at 3:30 pm Central (4:30 pm Eastern). Asure Chairman and CEO Pat Goepel and CFO John Pence will participate in the conference call followed by a question-and-answer session. The conference call will be broadcast live and available for replay via the investor relations section of the Company’s website. Analysts may participate on the conference call by dialing 877-407-9219 or 201-689-8852.

    About Asure Software, Inc.

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

    Non-GAAP and Adjusted Financial Measures

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Use of Forward-Looking Statements

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

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

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

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

     
    ASURE SOFTWARE, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, except per share amounts)
           
      March 31, 2025   December 31, 2024
           
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 14,076     $ 21,425  
    Accounts receivable, net of allowance for credit losses of $6,545 and $6,328 at March 31, 2025 and December 31, 2024, respectively   15,800       18,154  
    Inventory   220       195  
    Prepaid expenses and other current assets   5,970       4,888  
    Total current assets before funds held for clients   36,066       44,662  
    Funds held for clients   257,019       192,615  
    Total current assets   293,085       237,277  
    Property and equipment, net   20,999       19,669  
    Goodwill   94,724       94,724  
    Intangible assets, net   73,003       69,114  
    Operating lease assets, net   4,403       4,041  
    Other assets, net   12,727       11,813  
    Total assets $ 498,941     $ 436,638  
    LIABILITIES AND STOCKHOLDERSEQUITY      
    Current liabilities:      
    Current portion of notes payable $ 7,948     $ 7,008  
    Accounts payable   2,475       1,364  
    Accrued compensation and benefits   2,911       4,485  
    Operating lease liabilities, current   1,432       1,438  
    Other accrued liabilities   6,071       6,600  
    Deferred revenue   4,662       8,363  
    Total current liabilities before client fund obligations   25,499       29,258  
    Client fund obligations   258,586       194,378  
    Total current liabilities   284,085       223,636  
    Long-term liabilities:      
    Deferred revenue   3,321       3,430  
    Deferred tax liability   2,903       2,612  
    Notes payable, net of current portion   6,172       5,709  
    Operating lease liabilities, noncurrent   3,892       3,578  
    Other liabilities   905       358  
    Total long-term liabilities   17,193       15,687  
    Total liabilities   301,278       239,323  
    Stockholders’ equity:      
    Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding          
    Common stock, $0.01 par value; 44,000 shares authorized; 27,122 and 26,671 shares issued, 27,122 and 26,671 shares outstanding at December 31, 2024 and December 31, 2023, respectively   271       267  
    Treasury stock at cost, zero(1)at March 31, 2025 and December 31, 2024          
    Additional paid-in capital   507,149       504,849  
    Accumulated deficit   (309,624 )     (307,226 )
    Accumulated other comprehensive loss   (133 )     (575 )
    Total stockholders’ equity   197,663       197,315  
    Total liabilities and stockholders’ equity $ 498,941     $ 436,638  
    (1) The aggregate Treasury stock of prior repurchases of the Company’s own common stock was retired and subsequently issued effective January 1, 2024. See the Consolidated Statement of Changes in Stockholders’ Equity for the impact of this transaction.
     
     
    ASURE SOFTWARE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (in thousands, except per share amounts)
     
      Three Months Ended
    March 31,
      2025   2024
           
    Revenue:      
    Recurring $ 33,187     $ 30,273  
    Professional services, hardware and other   1,667       1,379  
    Total revenue   34,854       31,652  
    Cost of sales   10,246       9,045  
    Gross profit   24,608       22,607  
    Operating expenses:      
    Sales and marketing   8,386       7,767  
    General and administrative   11,900       10,063  
    Research and development   2,029       1,769  
    Amortization of intangible assets   4,308       3,449  
    Total operating expenses   26,623       23,048  
    Loss from operations   (2,015 )     (441 )
    Interest income   171       336  
    Interest expense   (451 )     (180 )
    Other income, net   188       10  
    Loss from operations before income taxes   (2,107 )     (275 )
    Income tax expense   291       33  
    Net loss   (2,398 )     (308 )
    Other comprehensive income (loss):      
    Unrealized gain (loss) on marketable securities   442       (244 )
    Comprehensive loss $ (1,956 )   $ (552 )
           
    Basic and diluted loss per share      
    Basic $ (0.09 )   $ (0.01 )
    Diluted $ (0.09 )   $ (0.01 )
           
    Weighted average basic and diluted shares      
    Basic   26,961       25,334  
    Diluted   26,961       25,334  
                   
     
    ASURE SOFTWARE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
       
      Three Months Ended March 31,
      2025   2024
           
    Cash flows from operating activities:      
    Net loss $ (2,398 )   $ (308 )
    Adjustments to reconcile loss to net cash provided by (used in) operations:      
    Depreciation and amortization   5,972       4,860  
    Amortization of operating lease assets   374       335  
    Amortization of debt financing costs and discount   253       142  
    Non-cash interest expense   197        
    Net accretion of discounts and amortization of premiums on available-for-sale securities   (110 )     (78 )
    Provision for expected losses   93       46  
    Provision for deferred income taxes   291       24  
    Net realized gains on sales of available-for-sale securities   (656 )     (652 )
    Share-based compensation   1,863       1,902  
    Changes in operating assets and liabilities:      
    Accounts receivable   2,261       (919 )
    Inventory   (24 )     (50 )
    Prepaid expenses and other assets   (1,049 )     (473 )
    Operating lease right-of-use assets         30  
    Accounts payable   903       (960 )
    Accrued expenses and other long-term obligations   (1,737 )     (2,665 )
    Operating lease liabilities   (427 )     (141 )
    Deferred revenue   (3,810 )     (5,040 )
    Net cash provided by (used in) operating activities   1,996       (3,947 )
    Cash flows from investing activities:      
    Acquisition of intangible assets   (6,346 )     (710 )
    Purchases of property and equipment   (192 )     (240 )
    Software capitalization costs   (2,769 )     (2,435 )
    Purchases of available-for-sale securities   (6,589 )     (3,516 )
    Proceeds from sales and maturities of available-for-sale securities   3,266       2,406  
    Net cash used in investing activities   (12,630 )     (4,495 )
    Cash flows from financing activities:      
    Payments made on amounts due for the acquisition of intangibles   (723 )     (236 )
    Net proceeds from issuance of common stock   441       176  
    Net change in client fund obligations   64,207       21,122  
    Net cash provided by financing activities   63,925       21,062  
    Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents   53,291       12,620  
    Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period   145,712       177,622  
    Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 199,003     $ 190,242  
                   
     
    ASURE SOFTWARE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
    (in thousands)
       
      Three Months Ended March 31,
      2025
      2024
           
    Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Condensed Consolidated Balance Sheets
    Cash and cash equivalents $ 14,076     $ 23,166  
    Restricted cash and restricted cash equivalents included in funds held for clients   184,927       167,076  
    Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 199,003     $ 190,242  
           
    Supplemental information:      
    Cash paid for interest $ 125     $  
           
    Non-cash investing and financing activities:      
    Acquisition of intangible assets $ 750     $ 6,345  
    Notes payable issued for acquisitions $ 1,150     $ 827  
    Shares issued for acquisitions $     $ 4,494  
                   
     
    ASURE SOFTWARE, INC.
    RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES
    (unaudited)
                     
    (in thousands) Q1-25 Q4-24 Q3-24 Q2-24 Q1-24 Q4-23 Q3-23 Q2-23
    Revenue(1) $ 34,854   $ 30,792   $ 29,304   $ 28,044   $ 31,652   $ 26,264   $ 29,334   $ 30,420  
                     
    Gross Profit to non-GAAP Gross Profit                
    Gross Profit $ 24,608   $ 20,928   $ 19,704   $ 18,868   $ 22,607   $ 17,839   $ 21,280   $ 22,018  
    Gross Margin   70.6 %   68.0 %   67.2 %   67.3 %   71.4 %   67.9 %   72.5 %   72.4 %
                     
    Share-based Compensation   44     44     44     43     40     32     28     46  
    Depreciation   1,369     1,190     1,232     1,145     1,110     921     984     1,309  
    Amortization – intangibles   50     50     50     50     50     50     50     50  
    One-time expenses                
    Settlements, penalties & interest   29     25     2     3         (6 )   8      
    Acquisition and transaction costs   167     221     367     264     39              
    Other non-recurring expenses       84                          
    Non-GAAP Gross Profit $ 26,267   $ 22,542   $ 21,399   $ 20,373   $ 23,846   $ 18,836   $ 22,350   $ 23,423  
    Non-GAAP Gross Margin   75.4 %   73.2 %   73.0 %   72.6 %   75.3 %   71.7 %   76.2 %   77.0 %
                     
    Sales and Marketing Expense to non-GAAP Sales and Marketing Expense
    Sales and Marketing Expense $ 8,386   $ 6,945   $ 6,680   $ 6,924   $ 7,767   $ 6,422   $ 6,597   $ 8,515  
                     
    Share-based Compensation   322     251     269     237     243     180     210     149  
    Depreciation   1         1         1     1          
    One-time expenses                
    Settlements, penalties & interest   51     78     (5 )   5     18     6     30     4  
    Acquisition and transaction costs   30     9     68     37     11              
    Other non-recurring expenses       52                         180  
    Non-GAAP Sales and Marketing Expense $ 7,982   $ 6,555   $ 6,347   $ 6,645   $ 7,494   $ 6,235   $ 6,357   $ 8,182  
                     
    General and Administrative Expense to non-GAAP General and Administrative Expense
    General and Administrative Expense $ 11,900   $ 9,940   $ 10,378   $ 10,118   $ 10,063   $ 9,747   $ 9,294   $ 10,336  
                     
    Share-based Compensation   1,407     1,081     1,187     1,122     1,535     980     936     1,298  
    Depreciation   244     269     264     256     251     225     200     234  
    One-time expenses                
    Settlements, penalties & interest   492     142     377     304     98     284     101     432  
    Acquisition and transaction costs   491     282     371     245     57     51          
    Other non-recurring expenses   136     220     253         86     53         453  
    Non-GAAP General and Administrative Expense $ 9,130   $ 7,946   $ 7,926   $ 8,191   $ 8,036   $ 8,154   $ 8,057   $ 7,919  
                     
    Research and Development Expense to non-GAAP Research and Development Expense
    Research and Development Expense $ 2,029   $ 2,103   $ 1,973   $ 1,962   $ 1,769   $ 1,739   $ 1,803   $ 1,325  
                     
    Share-based Compensation   90     87     90     86     85     69     76     89  
    Depreciation   1       $   $   $   $   $   $  
    One-time expenses                
    Settlements, penalties & interest   9     21         27     31              
    Acquisition and transaction costs   91     153     195     369     147              
    Other non-recurring expenses       29                          
    Non-GAAP Research and Development Expense $ 1,838   $ 1,813   $ 1,688   $ 1,480   $ 1,506   $ 1,670   $ 1,727   $ 1,236  
                     

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

     
    ASURE SOFTWARE, INC.
    RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES (cont.)
    (unaudited)
                     
    (in thousands) Q1-25 Q4-24 Q3-24 Q2-24 Q1-24 Q4-23 Q3-23 Q2-23
    Revenue(1) $ 34,854   $ 30,792   $ 29,304   $ 28,044   $ 31,652   $ 26,264   $ 29,334   $ 30,420  
                     
    GAAP Net Loss to Adjusted EBITDA
    GAAP Net Loss $ (2,398 ) $ (3,204 ) $ (3,901 ) $ (4,360 ) $ (308 ) $ (3,582 ) $ (2,206 ) $ (3,765 )
                     
    Interest expense, net   280     211     109     (53 )   (156 )   (24 )   782     1,593  
    Income taxes   291     499     170     231     33     (158 )   (123 )   627  
    Depreciation   1,614     1,460     1,497     1,402     1,361     1,148     1,185     1,542  
    Amortization – intangibles   4,358     4,482     4,345     4,096     3,499     3,743     3,384     3,343  
    EBITDA $ 4,145   $ 3,448   $ 2,220   $ 1,316   $ 4,429   $ 1,127   $ 3,022   $ 3,340  
    EBITDA Margin   11.9 %   11.2 %   7.6 %   4.7 %   14.0 %   4.3 %   10.3 %   11.0 %
                     
    Share-based Compensation   1,863     1,463     1,591     1,488     1,902     1,260     1,251     1,582  
    One Time Expenses                
    Settlements, penalties & interest   581     266     375     339     147     283     140     436  
    Acquisition and transaction costs   779     665     1,001     914     254     51          
    Other non-recurring expenses   136     385     253         86     53         633  
    Other expense (income), net   (188 )   2             (10 )   1     1,800     93  
    Adjusted EBITDA $ 7,316   $ 6,229   $ 5,440   $ 4,057   $ 6,808   $ 2,775   $ 6,213   $ 6,084  
    Adjusted EBITDA Margin   21.0 %   20.2 %   18.6 %   14.5 %   21.5 %   10.6 %   21.2 %   20.0 %
                                                     

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

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

    The MIL Network

  • MIL-OSI: GSI Technology, Inc. Reports Fourth Quarter and Fiscal Year 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., May 01, 2025 (GLOBE NEWSWIRE) — GSI Technology, Inc. (NASDAQ: GSIT) today reported financial results for its fourth fiscal quarter and fiscal year ended March 31, 2025.

    Summary Financial Results Table (in thousands, except per share amounts)

      Three Months Ended 12 Months Ended
      Mar. 31,
    2025
    Dec. 31,
    2024
    Mar. 31,
    2024
    Mar. 31,
    2025
    Mar. 31,
    2024
    Net revenues $ 5,883     $ 5,414     $ 5,152     $ 20,518     $ 21,765  
    Gross margin (%)   56.1 %     54.0 %     51.6 %     49.4 %     54.3 %
    Operating expenses $ 5,575     $ 6,978     $ 7,172     $ 20,975     $ 32,254  
    Operating loss $ (2,276 )   $ (4,055 )   $ (4,514 )   $ (10,835 )   $ (20,431 )
    Net loss $ (2,230 )   $ (4,029 )   $ (4,321 )   $ (10,639 )   $ (20,087 )
    Net loss per share, diluted $ (0.09 )   $ (0.16 )   $ (0.17 )   $ (0.42 )   $ (0.80 )
                                           

    Lee-Lean Shu, Chairman and Chief Executive Officer, stated, “Our fourth quarter revenue increased 14% year-over-year and 9% sequentially to $5.9 million, reflecting strong demand for our legacy SRAM chips. This performance, combined with disciplined cost management, led to a significantly reduced net loss and lower cash burn for the quarter.”

    Mr. Shu continued, “ I am excited to announce that we secured an initial order for our radiation-hardened SRAM from a North American prime contractor, with follow-on orders expected in fiscal 2026. This sale also carries a significantly higher gross margin than our traditional SRAM chips. In parallel, we are actively pursuing heritage status for this chip, which will improve our market readiness and open important new sales channels. On the APU front, we expect to receive production-ready Gemini-II chips and Leda-2 boards by the end of the first quarter of fiscal 2026. In addition, our Gemini-II SBIR programs with the Space Development Agency (SDA) and US Air Force Research Laboratory (AFRL) remain on schedule. We delivered a server with a Leda-2 board to AFRL and will soon ship a Gemini-II card to SDA. Funds from these programs are offsetting our R&D expenditures for Gemini-II.”

    Mr. Shu concluded, “We are especially excited about a recent enhancement to Plato: adding the integration of a camera interface directly into the chip. This and other enhanced connectivity features create a compact, all-in-one optimized AI and LLM engine for edge devices, particularly well suited for agents requiring object recognition. With the ability to process data locally, without relying on cloud infrastructure, Plato now offers a powerful and flexible accelerator for next-generation edge computing applications. The new capability has increased strategic interest in Plato, and we are currently in preliminary discussions with multiple parties to secure partnerships to fund the next phase of development.”

    Commenting on the outlook for GSI’s first quarter of fiscal 2026, Mr. Shu stated, “Our current expectations for the upcoming first quarter of fiscal 2026 is for net revenues in a range of $5.5 million to $6.3 million, with gross margin of approximately 56% to 58%.”

    Fiscal Year 2025 Summary Financials

    The Company reported net revenues of $20.5 million for the fiscal year ended March 31, 2025, compared to $21.8 million for fiscal 2024. Gross margin was 49.4% for fiscal 2025 compared to 54.3% in fiscal 2024. The decrease in gross margin was primarily due to product mix and the effect of lower revenue on the fixed costs in our cost of revenues.

    Total operating expenses were $21.0 million in fiscal 2025, compared to $32.3 million in fiscal 2024. Research and development expenses were $16.0 million, compared to $21.7 million in the prior fiscal year. Selling, general and administrative expenses were $10.8 million, compared to $10.6 million in fiscal 2024. The decline in research and development expenses was primarily due to cost reductions announced in August 2024. Research and development expense in fiscal 2024 included pre-production mask costs of $2.4 million related to our Gemini-II product.

    Research and development expenses in fiscal 2025 and fiscal 2024 were reduced by $1.2 million and $440,000, respectively, reflecting government funding under the SBIR programs. Operating expenses in fiscal 2025 include a gain on the sale of assets of $5.8 million from the sales of the Company’s headquarters building in Sunnyvale, CA, in a sales and leaseback transaction.

    The operating loss for fiscal 2025 was $(10.8) million compared to an operating loss of $(20.4) million in the prior year. The fiscal 2025 net loss included interest and other income of $326,000 and a tax provision of $130,000, compared to $414,000 in interest and other income and a tax provision of $70,000 in the prior fiscal year.

    Net loss for fiscal 2025 was $(10.6) million, or $(0.42) per diluted share, compared to a net loss of $(20.1) million, or $(0.80) per diluted share, for fiscal 2024.

    Fourth Quarter Fiscal Year 2025 Summary Financials

    The Company reported net revenues of $5.9 million for the fourth quarter of fiscal 2025, compared to $5.2 million for the fourth quarter of fiscal 2024 and $5.4 million for the third quarter of fiscal 2025. Gross margin was 56.1% in the fourth quarter of fiscal 2025 compared to 51.6% in the fourth quarter of fiscal 2024 and 54.0% in the preceding third quarter of fiscal 2025. The sequential increase in gross margin in the fourth quarter of fiscal 2025 was primarily due to higher revenue and product mix.

    In the fourth quarter of fiscal 2025, sales to KYEC were $1.7 million, or 29.5% of net revenues, compared to $544,000, or 10.6% of net revenues, in the same period a year ago and $1.2 million, or 22.7% of net revenues, in the prior quarter. In the fourth quarter of fiscal 2025, sales to Nokia were $444,000, or 7.5% of net revenues, compared to $694,000, or 13.5% of net revenues, in the same period a year ago and $239,000, or 4.4% of net revenues, in the prior quarter. Military/defense sales were 30.7% of fourth quarter shipments compared to 35.5% of shipments in the comparable period a year ago and 30.0% of shipments in the prior quarter. SigmaQuad sales were 39.3% of fourth quarter shipments compared to 42.4% in the fourth quarter of fiscal 2024 and 39.1% in the prior quarter.

    Total operating expenses in the fourth quarter of fiscal 2025 were $5.6 million, compared to $7.2 million in the fourth quarter of fiscal 2024 and $7.0 million in the prior quarter. Research and development expenses were $3.0 million, compared to $4.8 million in the prior-year period and $4.0 million in the prior quarter. Research and development expenses in the fourth quarter of fiscal 2025 were reduced by $870,000, reflecting government funding under the SBIR programs. Selling, general and administrative expenses were $2.6 million in the quarter ended March 31, 2025, compared to $2.4 million in the prior year quarter and $3.0 million in the previous quarter.

    Fourth quarter fiscal 2025 operating loss was $(2.3) million compared to an operating loss of $(4.5) million in the prior-year period and $(4.1) million in the prior quarter. Fourth quarter fiscal 2025 net loss included interest and other income of $52,000 and a tax provision of $6,000, compared to $108,000 in interest and other income and a tax benefit of $(85,000) for the same period a year ago. In the preceding third quarter, net loss included interest and other income of $70,000 and a tax provision of $44,000.

    Net loss in the fourth quarter of fiscal 2025 was $(2.2) million, or $(0.09) per diluted share, compared to a net loss of $(4.3) million, or $(0.17) per diluted share, for the fourth quarter of fiscal 2024 and a net loss of $(4.0) million, or $(0.16) per diluted share, for the third quarter of fiscal 2025.

    Total fourth quarter pre-tax stock-based compensation expense was $512,000 compared to $693,000 in the comparable quarter a year ago and $429,000 in the prior quarter.

    At March 31, 2025, the Company had $13.4 million in cash and cash equivalents, compared to $14.4 million at March 31, 2024. Working capital was $16.4 million as of March 31, 2025 versus $24.7 million at March 31, 2024. Stockholders’ equity as of March 31, 2025 was $28.2 million, compared to $36.0 million as of the fiscal year ended March 31, 2024.

    Conference Call

    Management will conduct a conference call to review the Company’s financial results for the fourth quarter and fiscal year 2025 and its current outlook for the first quarter of fiscal 2026 at 1:30 p.m. Pacific time (4:30 p.m. Eastern Time) today.

    To participate in the call, please dial 1-877-407-3982 in the U.S. or 1-201-493-6780 for international approximately 10 minutes prior to the above start time and provide Conference ID 13753362. The call will also be streamed live via the internet at www.gsitechnology.com.

    A replay will be available from May 1, 2025, at 7:30 p.m. Eastern Time through May 8, 2025, at 11:59 p.m. Eastern Time by dialing toll-free for the U.S. 1-844-512-2921 or international 1-412-317-6671 and entering pin number 13753362. A webcast of the call will be archived on the Company’s investor relations website under the Events and Presentations tab.

    About GSI Technology

    Founded in 1995, GSI Technology, Inc. is a leading provider of semiconductor memory solutions. GSI’s resources are focused on bringing new products to market that leverage existing core strengths, including radiation-hardened memory products for extreme environments and Gemini-I, the associative processing unit designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.

    Forward-Looking Statements

    The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding GSI Technology’s expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to GSI Technology as of the date hereof, and GSI Technology assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a variety of risks and uncertainties, which could cause actual results to differ materially from those projected. These risks include those associated with the normal quarterly and fiscal year-end closing process. Examples of risks that could affect our current expectations regarding future revenues and gross margins include those associated with fluctuations in GSI Technology’s operating results; GSI Technology’s historical dependence on sales to a limited number of customers and fluctuations in the mix of customers and products in any period; global public health crises that reduce economic activity; the rapidly evolving markets for GSI Technology’s products and uncertainty regarding the development of these markets; the need to develop and introduce new products to offset the historical decline in the average unit selling price of GSI Technology’s products; the challenges of rapid growth followed by periods of contraction; intensive competition; the continued availability of government funding opportunities; delays or unanticipated costs that may be encountered in the development of new products based on our in-place associative computing technology and the establishment of new markets and customer and partner relationships for the sale of such products; and delays or unexpected challenges related to the establishment of customer relationships and orders for GSI Technology’s radiation-hardened and tolerant SRAM products. Many of these risks are currently amplified by and will continue to be amplified by, or in the future may be amplified by, economic and geopolitical conditions, such as changing interest rates, worldwide inflationary pressures, policy unpredictability, the imposition of tariffs and other trade barriers, military conflicts and declines in the global economic environment. Further information regarding these and other risks relating to GSI Technology’s business is contained in the Company’s filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in such filings.

    Source: GSI Technology, Inc.

    Contacts:

    Investor Relations:

    Hayden IR
    Kim Rogers
    385-831-7337
    kim@haydenir.com

    Media Relations:

    Finn Partners for GSI Technology
    Ricca Silverio
    415-348-2724
    gsi@finnpartners.com

    Company:

    GSI Technology, Inc.
    Douglas M. Schirle
    Chief Financial Officer
    408-331-9802

           
    GSI TECHNOLOGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except per share data)
    (Unaudited)
                 
      Three Months Ended   Twelve Months Ended
      March 31, Dec. 31, March 31, March 31, March 31,
        2025     2024     2024       2025     2024  
                 
    Net revenues $ 5,883   $ 5,414   $ 5,152     $ 20,518   $ 21,765  
    Cost of goods sold   2,584     2,491     2,494       10,378     9,942  
                 
    Gross profit   3,299     2,923     2,658       10,140     11,823  
                 
    Operating expenses:            
                 
    Research & development   2,966     4,037     4,818       16,005     21,689  
    Selling, general and administrative   2,609     2,997     2,354       10,763     10,565  
    Gain from sale of assets       (56 )         (5,793 )    
    Total operating expenses   5,575     6,978     7,172       20,975     32,254  
                 
    Operating loss   (2,276 )   (4,055 )   (4,514 )     (10,835 )   (20,431 )
                 
    Interest and other income (expense), net   52     70     108       326     414  
                 
    Loss before income taxes   (2,224 )   (3,985 )   (4,406 )     (10,509 )   (20,017 )
    Provision (benefit) for income taxes   6     44     (85 )     130     70  
    Net loss $ (2,230 ) $ (4,029 ) $ (4,321 )   $ (10,639 ) $ (20,087 )
                 
                 
    Net loss per share, basic $ (0.09 ) ($ 0.16 ) $ (0.17 )   $ (0.42 ) $ (0.80 )
    Net loss per share, diluted $ (0.09 ) ($ 0.16 ) $ (0.17 )   $ (0.42 ) $ (0.80 )
                 
    Weighted-average shares used in            
    computing per share amounts:            
                 
    Basic   25,604     25,546     25,297       25,498     25,144  
    Diluted   25,604     25,546     25,297       25,498     25,144  
                 
                 
    Stock-based compensation included in the Condensed Consolidated Statements of Operations:
                 
      Three Months Ended   Twelve Months Ended
      March 31, Dec. 31, March 31,   March 31, March 31,
        2025     2024     2024       2025     2024  
                 
    Cost of goods sold $ 42   $ 50   $ 53     $ 199   $ 228  
    Research & development   263     121     331       1,010     1,411  
    Selling, general and administrative   207     258     309       1,053     1,199  
      $ 512   $ 429   $ 693     $ 2,262   $ 2,838  
                 
    GSI TECHNOLOGY, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands)
    (Unaudited)
             
        March 31, 2025 March 31, 2024
    Cash and cash equivalents   $ 13,434   $ 14,429
    Accounts receivable     3,169     3,118
    Inventory     3,891     4,977
    Other current assets     2,961     1,954
    Assets held for sale     0     5,629
    Net property and equipment     808     1,148
    Operating lease right-of-use assets     9,547     1,553
    Other assets     9,507     9,656
    Total assets   $ 43,317   $ 42,464
             
    Current liabilities   $ 7,074   $ 5,365
    Long-term liabilities     8,017     1,129
    Stockholders’ equity     28,226     35,970
    Total liabilities and stockholders’ equity   $ 43,317   $ 42,464

    The MIL Network

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Racial Discrimination Commend Gabon on Special Contingent Composed of Indigenous Persons, Ask Questions on Treatment of Hausa Gabonese Population and Human Trafficking

    Source: United Nations – Geneva

    The Committee on the Elimination of Racial Discrimination today concluded its consideration of the tenth periodic report of Gabon, with Committee Experts commending the State on the establishment of a special contingent in the National Guard made up of indigenous persons, while asking questions on the treatment of the Hausa Gabonese population and steps taken to combat human trafficking.

    Régine Esseneme, Committee Expert and Country Rapporteur, said the Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action.

    Ms. Esseneme asked about the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    Bakri Sidiki Diaby, Committee Expert and Country Co-Rapporteur, asked what was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? What was the profile of the perpetrators of human trafficking, their gender and their nationality? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children?

    The delegation said the Hausa Gabonese benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    The delegation said in 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Underground networks operated the trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases.

    Introducing the report, Paul-Marie Gondjout, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation, apologised for the late submission of the report, which should have been submitted more than 20 years ago. Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens.

    In concluding remarks, Ms. Esseneme congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    Mr. Gondjout, in his concluding remarks, thanked the Committee for the constructive and respectful exchange which had taken place. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. It would respond within the timeframes indicated.

    The delegation of Gabon consisted of representatives of the Transitional National Assembly; Ministry of the Interior; Ministry of Health; Ministry of Energy and Water Resources; Ministry of Women and Child Protection; Ministry of National Education; Directorate of Human Rights Protection; Directorate of Criminal Affairs; Directorate of Equal Opportunities; Labour Inspectorate; Central Directorate of Financial Affairs; Directorate of Documentation and Immigration; Immigration Task Force; and the Permanent Mission of Gabon to the United Nations Office at Geneva.

    The Committee will issue its concluding observations on the report of Gabon after the conclusion of its one hundred and fifteenth session on 9 May. The programme of work and other documents related to the session can be found here . Summaries of the public meetings of the Committee can be found here , while webcasts of the public meetings can be found here .

    The Committee will next meet in public on Thursday, 1 May at 3 p.m. to consider the combined eleventh and twelfth periodic reports of Kyrgyzstan (CERD/C/KGZ/11-12).

    Report

    The Committee has before it the tenth periodic report of Gabon (CERD/C/GAB/10).

    Presentation of Report

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , apologised for the late submission of the report, which should have been submitted more than 20 years ago. It covered the period from 1999 to 2021 and was drafted in an inclusive, participatory process. Since gaining sovereignty, Gabon had promoted equal dignity among all citizens by prohibiting any distinction of race, origin or religion. The country had made the fight against all forms of discrimination one of the priorities in its resolute commitment to building a State governed by the rule of law that respected and protected human rights and guaranteed access to rights for all.

    Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens. The presidential election was held on 12 April, which would be followed on 3 May by the inauguration of the President of the Republic, thus putting an end to the transition. Transitional authorities had taken determined action to periodically update the legislative arsenal to bring it into line with ratified international treaties.

    Statistical data was a major challenge for Gabon. To address this, the Directorate General of Statistics had set up a technical body to carry out the seventh national census, which would provide data on age, gender, ethnicity, nationality and language spoken for the total population, indigenous peoples, ethnic minorities and migrants, as well as information on employment, income level and social protection. The project for the harmonisation and improvement of statistics in West and Central Africa was providing financing of statistical activities between 2025 and 2029, ensuring the production of reliable and regularly updated statistics.

    The Convention was directly applicable in Gabon and took precedence over national laws. To raise awareness of the Convention, several initiatives were implemented during the reporting period, from capacity-building workshops to the dissemination of multilingual communications. In various training schools, the Convention was presented in the module on human rights.

    No Gabonese text defined racial discrimination in the same terms as those in article one of the Convention. However, the Constitutions of 1991 and 2024 had adopted and enshrined the main principles of article one, targeting discrimination based on race, colour, national or ethnic origin and covering several sectors of the population. The Constitution also enshrined the equality of citizens before the law and the courts and the presumption of innocence for accused persons. The Government envisaged developing a national plan of action to combat racial discrimination and related intolerance in the coming year. Training sessions on the issue had been organised and a committee had been set up to develop a draft.

    A law on the reorganisation of the National Human Rights Commission was promulgated in November 2024. The process of re-establishing the institution would be completed in the coming weeks after the selection of the commissioners by the Bureau of the National Assembly. Premises for the Commission were made available in 2014, and it had recruited staff since 2012. Its budget has increased from 12,000,000 CFA francs in 2016 to 592,000,000 in 2025.

    During the period under review, measures were taken to ensure that the Criminal Code and other legislation complied with the Convention. State laws prohibited and penalised acts of racial, religious and ethnic discrimination and regionalist propaganda; secular or religious associations that provoked hatred between ethnic groups; and the dissemination, including online, of racist hate speech, which constituted an aggravating circumstance.

    The High Authority for Communication had imposed sanctions on media outlets on several occasions, but no decision condemning hate speech had been handed down by courts to date. A digital campaign entitled “Gabon against hate” was launched in December 2023 to educate citizens on the dangers of hate speech and disinformation, and in December 2024, the Government organised a workshop on the Central African strategy and action plan for the prevention and response to hate speech and incitement to violence, which led to the drafting of a national action plan.

    The new Constitution recognised civil society organizations as a part of pluralist and participatory democracy. A bill was also submitted in September 2024 on the protection of human rights defenders. Civil society organizations, including the network of human rights defenders, were strongly involved in the transition process, both in the Government and in Parliament.

    To align legislation on migrants with international standards, Gabon prepared a draft law establishing rules governing the admission and residence of foreigners in the Republic. The Government planned to integrate the issue of migrants into the curricula of training schools, particularly at the National School of the Judiciary and the National Police Academy, which also had a module on trafficking in persons.

    Gabon had made commitments at international, regional and national levels to combat trafficking in persons through local initiatives and partnerships with international actors. In 2023, the State party created a commission that was mandated to strengthen the capacities of actors addressing trafficking and establish coordinated mechanisms for the identification, care and protection of victims in each province. In addition, a proposed strategy and action plan on trafficking for the period 2025-2029 would implement actions to prevent the phenomenon, protect victims and prosecute perpetrators.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur , extended warm congratulations to the elected President of the Republic, Brice Oligui Nguema. She said the Committee had considered Gabon’s last report in 1998 in the absence of a delegation. The State submitted its next report 26 years late in 2024. The report did not provide sufficient information on the implementation of the Committee’s previous concluding observations. However, Ms. Esseneme congratulated the State party on significant developments that had been made in the legal and institutional framework, particularly the prohibition of hate speech.

    Gabon’s new Constitution of 2024 did not contain all the grounds of discrimination provided for in article one of the Convention, including skin colour, national origin and ancestry. Was this Constitution currently in effect? By what mechanism could the Convention be invoked before national courts? Could the delegation give examples of court cases in which Convention provisions had been applied? Were there plans to adopt comprehensive anti-discrimination legislation in line with the Convention? Gabon’s Common Core Document dated from 1998 and did not contain precise information on equality and non-discrimination. Were there plans to update it?

    Was there any legislation in the State party explicitly prohibiting racial profiling by police? Gabonese police reportedly carried out racial profiling checks and extorted foreigners staying in Gabon, demanding sums of money from them that varied depending on whether they held a residence permit. What measures were envisaged to prevent, prohibit and expressly punish racial profiling?

    Was the Government drafting a new Criminal Code that incorporated all the provisions of article four of the Convention? Since the events of 30 August 2023, there had reportedly been a rise in racist hate speech against Gabonese of foreign origin, including the Hausa Gabonese group, and foreigners. What measures had the State party taken to counter this hate speech? Had the Prosecutor’s Office received cases of discriminatory acts against Hausa Gabonese?

    The situation seemed to have deteriorated since the presidential election. Some 500 vehicles belonging to non-nationals employed in a private scheme for disadvantaged people had been seized and impounded. Could the State party provide an update on this case, which appeared to amount to racially motivated violence?

    Did Gabon’s law hold persons from a dominant group to account when they destroyed the property of or committed violence against a member of a minority group? What measures were in place to improve the reporting and monitoring of racist hate crimes and hate speech? What progress had been made through the “Gabon against hate” campaign?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, called for data on the demographic composition of the population based on self-identification, disaggregated by ethnic origin; data on migrants, refugees, asylum seekers and stateless people; and disaggregated economic and social indicators on the different groups living in the territory, in particular minority groups? The Committee was concerned about the State’s general lack of disaggregated data, including on ethnicity, needed to monitor progress on human rights and inform policymaking. How was the State addressing this? Did it plan to establish a comprehensive data collection and reporting system that would provide insight into racial discrimination, socio-economic inequalities and implementation of the Convention?

    Responses by the Delegation

    The delegation apologised for Gabon’s lateness in submitting the report. The State party was fully committed to working with the Committee. The transitional authorities sought to fulfil the country’s international obligations.

    The Constitution reflected the principles of the Convention, even though it did not reproduce its provisions word for word. There had been no complaints submitted to courts on racial discrimination. The President would take office in three days’ time, when the new Constitution would enter into force.

    The Convention had supremacy over all domestic laws, and when there were Convention provisions that were contrary to the Constitution, the Constitutional Court could recommend amendments to the Constitution. The Criminal Code was last revised in 2020 and Gabon was engaging in work to further revise the Code to formalise within it all elements of article one of the Convention.

    Police officers apprehended persons based on the acts that they conducted. They did not consider persons’ racial or ethnic identity; State law prohibited racial profiling. The Government worked to promote unity between different ethnic groups and ensure that hate speech did not gain ground.

    Data on ethnic origin was not collected in the previous census of 2013, though data on nationality was. The next census would collect data on age, gender, ethnic origin and languages spoken. The Government had undertaken a project to reform the national statistics system, which aimed to provide more resources to the national statistics institute and to establish officers on statistics in each ministerial department, who would collect data on the implementation of the Convention.

    Last year, a leader of a political party made a statement against an ethnic group; investigations into this incident were ongoing. The State party embraced the Hausa Gabonese and other populations of foreign origin, promoting their integration into society. It sought to resolve institutional friction to ensure such integration. It was not aware of reports of seizing of non-nationals’ vehicles.

    Follow-Up Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked whether the President would need to approve legislation to bring the new Constitution into force. What happened when constitutional or domestic legal provisions ran counter to international norms? Did victims need to lodge complaints related to hate speech for criminal investigations to start? Did the law on the protection of personal data include measures to prevent racial profiling?

    A Committee Expert said the Committee was very pleased to see the delegation of Gabon after nearly a quarter-century and looked forward to continued dialogue with the State. In 2011, a law was implemented that addressed ritualistic crimes against children. What measures had the State party taken to protect children from these crimes? How many children were affected by such crimes?

    Responses by the Delegation

    The delegation said the new Constitution was in force, but its content on ceasing the transitional process was not applicable immediately. The Constitutional Court assessed new laws to ensure that they were aligned with the Convention and the Constitution. It informed the Government when laws contained provisions that did not align with the Convention and called for their revision.

    The Higher Authority on Communication could suggest administrative sanctions against media agencies that disseminated hate speech.

    There were no legal provisions that specifically referred to “ritualistic crimes”, but there were provisions punishing related acts, such as murder and removal of vital organs, as aggravated crimes.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said Gabon had not adopted a plan of action to combat racial discrimination. What measures had the State party taken to develop such a plan and implement the Durban Programme of Action, and what results had it obtained?

    The National Human Rights Commission was reorganised in November 2024. Had the State party applied for accreditation from the Global Alliance of National Human Rights Institutions? The Commission received and examined complaints from individuals and victims. What was the procedure for this, and how many complaints had it examined, including related to racial discrimination? How was the Commission raising awareness about human rights protections? The Commission’s financial resources had been significantly increased; the Committee hoped that this would strengthen the Commission’s ability to combat racial discrimination.

    The registration procedure for non-governmental organizations was reportedly very expensive and inconsistent, which discouraged organizations from carrying out their activities. The Committee had not received any alternative report from civil society. How was the State party encouraging this? What progress had been made in establishing a consultation framework between the State and civil society, and in developing a law on human rights defenders? Human and environmental rights defenders in the country were highly vulnerable to abuses and reprisals, including women, farmers and indigenous peoples fighting against deforestation. What measures were being taken to ensure the protection of human rights defenders who fought against racial discrimination and defended indigenous peoples and migrants?

    The Committee welcomed that the State automatically appointed a lawyer to accused persons who could not afford one, and that such persons benefitted from the presumption of innocence. How many persons had benefitted from legal aid in the last two years, including persons from ethnic minorities?

    What continuous training or awareness raising activities were being carried out for the judiciary, law enforcement officials and the public on human rights, international human rights treaties, non-discrimination and minority rights? Did training on human rights for security and defence forces address the Convention? What measures had been implemented to support the filing of complaints and claims for redress in cases of racial discrimination, particularly for ethnic minorities, indigenous peoples and non-citizens? Victims often struggled to prove that they had been discriminated against when perpetrators held positions of authority. Did the State party intend to introduce a reversal of the burden of proof in favour of victims of discrimination? How would the State bring the administration of justice closer to rural areas inhabited by indigenous peoples, and remove obstacles related to linguistic diversity?

    What progress had been made on introducing human rights education into school curricula and higher education? Did curricula address the Convention, combatting racial discrimination, and the history, culture and traditions of the different ethnic groups and indigenous peoples? What difficulties did the State party encounter in promoting education on national languages? Were there any community radio stations in the State party where information was disseminated in local languages and indigenous languages such as Baka? What programmes were in place to promote ethnic cultures and traditions and social cohesion?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said the new Constitution stipulated that citizens’ gatherings, demonstrations or parades in public spaces needed to be authorised under the conditions provided for by law. This seemed to restrict freedom of assembly and contradict 2017 legislation calling only for a declaration of planned gatherings. Why had this regressive change been made? How would the State party bring its rules on freedom of assembly in line with international standards? Were remedies available for persons whose demonstrations had been banned?

    In February 2021, tear gas and grenades were used in Libreville and Port Gentil to disperse a crowd demonstrating in opposition to the restrictions imposed during the COVID-19 pandemic. What justified this use of public force? Had investigations been carried out to establish responsibility? Could legislation on assembly be used to restrict private meetings? What measures had the State party adopted to ensure that indigenous peoples, ethnic minorities and non-citizens could exercise their right to freedom of assembly without discrimination, including at demonstrations in opposition to infrastructure projects or calling for protection of the environment and natural resources?

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-Up Rapporteur , said she was encouraged by the State’s desire to strengthen its institutions. How were the members of the National Human Rights Commission appointed and to whom were they accountable? The State party had not ratified the African Charter on Democracy, Elections and Governance. Did it plan to do so?

    Responses by the Delegation

    The delegation said that the National Human Rights Commission would apply for accreditation with the Global Alliance of National Human Rights Institutions. Funding for the Commission had increased exponentially. Legislation on the re-establishment of the Commission was in line with the Paris Principles; it had been developed with the Office of the High Commissioner for Human Rights. There had not been any complaints of racial discrimination submitted to the Commission yet. The State party would work to raise awareness of the Commission’s complaints mechanism.

    The Commission and civil society were involved in drafting the State party’s reports to treaty bodies. Civil society had submitted alternative reports to the Human Rights Committee, and training had been provided to civil society on preparing such reports. Reports that the procedure for creating non-governmental organizations was onerous were false. There were no costs associated with creating such organizations in Gabon.

    Gabon sought to rebuild its institutions based on justice. It had set up a legal aid office, which provided legal aid to vulnerable persons, and sought to strengthen this system and make it accessible throughout the country. There was no discrimination in the provision of legal aid. All plaintiffs appearing before a criminal court needed to be represented by a lawyer. The State party would consider revising the Criminal Code to reverse the burden of proof for cases involving racial discrimination.

    The new Constitution enshrined the principles of freedom of expression and assembly for all citizens. Legislation set up a system of declaration for public demonstrations; there was no authorisation system. Individuals who had been banned from holding demonstrations could file administrative appeals and appeals with the courts. There were no barriers to the freedom of expression in Gabon.

    Human rights education was part of the Gabonese civic education programme from primary level onwards. There had been an initiative to bolster this programme and to provide human rights education in vocational training institutions. Teaching on national languages was provided in religious establishments, and there were plans to include national language education in the general primary and secondary curricula.

    The new members of the National Human Rights Commission would be appointed by an ad-hoc committee within the National Assembly through a transparent process that ensured appropriate geographic balance. These members would be standing, independent members. Members’ reports would be sent to relevant institutions for follow-up.

    Initial training for members of the magistracy included a module on human rights, and ongoing training was provided on certain issues, for example concerning migrants and trafficking.

    Questions by a Committee Expert

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked which groups in Gabon self-determined as national minorities, even though the State declared it did not grant them legal status? What was the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? According to information received by the Committee, the State was struggling to issue birth certificates and national identity cards to ethnic and indigenous minorities. What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    It was reported that in 2022, people returning from holidays, whose surnames sounded foreign, had had their passports taken away by border police officers, and they had to go and collect them and justify their Gabonese nationality. What was at the origin of this search for the original “Gabonness” that seemed to be coming back in force since the events of August 2023? What was the State party doing to ensure social cohesion in these circumstances?

    How many members of the indigenous peoples’ communities held positions of responsibility in the central and local State administration? What measures were being taken to strengthen the political and administrative capacities of the members of these communities for better representation? What was the proportion of women, and particularly women from indigenous peoples and the Hausa Gabonese minority, in elective and decision-making positions in the civil service? Did it mean the State would prefer to appoint a less qualified man to a senior job in the State rather than a highly qualified woman, if the 30 per cent quota for women was reached? What measures had the State party taken to prevent and combat racial discrimination in the workplace, as well as abusive practices and labour exploitation, in particular against indigenous peoples and other minorities?

    From the report, it appeared the State party was made up of the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa ethnic groups that were settled in different regions of Gabonese territory. What were the legal and institutional frameworks, as well as policies and programmes established for the promotion and protection of the specific rights of these indigenous peoples? What measures had been taken to enable indigenous peoples to enjoy genuine equality of opportunity and treatment with other members of the population? How many indigenous peoples were there in Gabon?

    What mechanism had been implemented to conduct prior consultations to obtain the free and informed consent of the indigenous peoples concerned by projects, including the deployment of fibre optics, and to involve them in their implementation? Was there a permanent framework for cooperation with community leaders or associations that represented these populations? Who were the ethnic groups of the indigenous inhabitants of the 26 villages concerned by the development project, being conducted with the United Nations Children’s Fund?

    The Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action. It was hoped this would not be an isolated act.

    According to available information, entire villages populated by indigenous communities had been displaced without prior consent for mining projects in Bakoumba, and had been relocated to undesirable and polluted areas, with no action taken by the authorities to follow up on the complaints of those affected by the pollution. Could information on this situation be provided? What measures were being taken to ensure the right of indigenous peoples to own, develop, control and use the lands, resources and community territories that they traditionally occupied or used? What tools did the Government use to promote equal opportunities in education and training? How were the specific needs of indigenous peoples taken into account? Did pre-primary and primary education include the teaching of mother tongue languages?

    The Gabonese Government had adopted a commendable housing policy with the home savings plan put in place since March 2019. However, a World Bank report from 2020 revealed that more than one in two households did not have access to decent housing. What was the real situation in terms of housing? Could information be provided on the poverty rate among indigenous peoples and other minorities and their access to basic services?

    The education system had specialised facilities for children with hearing impairments, including those belonging to indigenous peoples and other minorities. What was the situation of the education of other children with special needs, such as autistic children, considered in some societies to be evil or sorcerous children? Given that some 50 national languages were spoken in Gabon, what languages were used within the media and what methodology was used to choose these languages? Were there programmes in the Baka and Koya languages that were spoken by indigenous peoples? What measures had been taken to promote the dissemination of and respect for the traditions and culture of the different ethnic groups in Gabon, and to protect indigenous languages, such as Baka and Koya?

    Responses by the Delegation

    Regarding the Hausa whose passports were removed if their names sounded foreign, the delegation said there were people who had not been careful to keep up with the administrative situation in the country in which they lived. They may not see the importance of having birth and identity documents. This meant today, when the State was focused on restoring its institutions, these matters came to the surface. There had been some confusing situations which arose because many people had held fake documents for a long time before. The Government was looking into this issue as a matter of national security.

    Members of the Hausa population benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    It was true that there were more women than men in Gabon. However, when it came to elections, not many women wanted to participate in political life, and the State wanted to change this. This was why legislation had been developed which established quotas; this aimed to be positive discrimination for women. The quotas intended to encourage more women to become involved in political life at the local and national level. The 30 per cent minimum quota was in place for all political parties, with the requirement that 30 per cent of all candidates should be women. The State also aimed to encourage more young people and persons with disabilities to become involved in political life.

    Indigenous peoples were included in Gabon’s social protection coverage. They were covered by the social protection system and received unemployment and health benefits. The 26 villages covered by the support programme were villages with people from Baka, Bango and other groups. Work was done with pregnant women to ensure neonatal services were provided, especially in remote parts of the country where many indigenous groups lived. The State had set up a centre for autistic children and aimed to roll this out to other parts of the country.

    In 2016, a programme was launched to combat all forms of discrimination in employment, healthcare and education, and other areas of public life. The State sought to support all levels of society in Gabon through this programme, which covered indigenous peoples, women and other vulnerable groups. All programmes were intended to promote equality of opportunity for all. Indigenous peoples, regardless of where they were located in the country, could benefit from State programmes.

    In Gabon, there was an observatory which focused on the issue of equality and undertook various studies, including a recent one on the equality of opportunity for indigenous peoples in Gabon. On the basis of this study, an action plan had been developed, with policies to be rolled out to address the situation of indigenous peoples in the country. The most recent census had enabled the State to identify 15,000 persons with disabilities who needed additional support, and actions relating to education and health were carried out in this regard. Gabon was on the right track in terms of indigenous peoples, as the State was pursuing inclusive policies, taking into account all persons on the territory of the country.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said several questions had not been answered, namely on the languages used in the media; the use of land by indigenous peoples; and the medicinal practices of indigenous peoples. There had been a case where indigenous peoples were forcibly removed from their village and transported to polluted areas; could this be addressed? Was it correct that the 30 per cent quota was a minimum? If there was a list of candidates which did not reach the minimum threshold, was it then rejected? Was the State considering an individualised approach to the Hausa Gabonese?

    A Committee Expert asked if the State looked at issues which might be particularly harmful to indigenous peoples, and then adopted policies and programmes to address these issues?

    Another Committee Expert asked what members of the delegation meant when they said they did not recognise minorities as a legal concept? Did this mean these minorities did not qualify for legal protection?

    An Expert asked if the State had investigated what held women back from applying for election posts?

    A Committee Expert said Gabon had last reviewed the Constitution in 2011. How had Gabon addressed the issues of discrimination in education?

    Responses by the Delegation

    The delegation clarified that Gabon had a brand-new Constitution. The law on data protection stated that it was prohibited to collect or process any data which revealed the racial or ethnic background of an individual, their political or religious views, and data related to their sex life or health, among other points. The profiling of children was strictly prohibited, except when strictly necessary. Personal data could be accessed on the grounds of State security defence. When the police were carrying out controls or checks, they treated all passengers in stopped vehicles the same; everyone was asked to show their identity documents.

    When the 30 per cent quotas were not achieved, steps were taken to encourage favourable treatment for women, by ensuring a male and female alternance for candidates in electoral lists, to achieve the 30 per cent representation. This was a “carrot rather than stick” approach. Women were being encouraged to overcome cultural blocks and stand for leadership roles. A workshop had been held last week which sought to address the grassroot social issues, including that women were typically viewed as homemakers and housewives. The quota law aimed to break these traditional mindsets.

    Gabon had enacted specific measures, including the law on persons with disabilities, which mandated that education was compulsory for all children with disabilities. Education was compulsory by law for all children between ages three and 16 in Gabon. A forum was organised in 2019 on the implementation of inclusive education. New schools being built were required to meet accessibility standards, to ensure free and easy access for children with motor disabilities.

    The relocation of individuals in certain areas had been required, but the fact that they were relocated to polluted areas was refuted. Some people had to accustom themselves to living in a new location, but it was the sovereign right of the State to ensure they could tap their resources for the overall benefit of the country. More information about the claims would be appreciated. There were community radio stations which broadcast programmes in local indigenous languages.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said there had been no shadow report received from Gabonese civil society. The information regarding the relocation of indigenous peoples had been received by the Committee members which was why they asked the question. State sovereignty should not be used against the population, but rather for their wellbeing.

    What measures had been adopted, including special measures or affirmative action measures, with a view to combatting inequalities and multiple forms of discrimination, including racial discrimination, with regard to ethnic minorities and indigenous peoples, such as the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa? To what extent did the 2018 national strategy to combat gender-based violence and the law on the elimination of violence against women take into account the specific needs of indigenous girls and women? What other measures had been adopted to address the multiple and intersecting forms of discrimination faced by women belonging to ethnic minorities, indigenous peoples, and other vulnerable groups?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said law no. 5/86, establishing the regime for the admission and residence of foreigners in the Gabonese Republic, provided for severe fines and imprisonment for foreigners in an irregular situation, which considerably reduced the scope of protection for persons who arrived in Gabon irregularly or those already in Gabon in need of international protection. What measures had been taken by the State party to harmonise its national legislation, including this law, with international obligations, in particular to decriminalise irregular migration? What measures had been adopted to prevent and combat racial discrimination and xenophobia against migrants, asylum seekers, refugees and stateless persons, and to facilitate the integration of non-citizens?

    What measures had been adopted by the State party to ensure that the practical application of the policy of “Gabonisation” of employment did not lead to cases of discrimination in hiring and dismissal on the basis of race, colour, descent or national or ethnic origin? According to a provision within the refugee act, the majority of refugees in Gabon lived with families. What was the profile of these families? How was the legal integration of refugees carried out? What were the socio-demographic, spatial and legal-administrative characteristics of the descendants of refugees in Libreville? Clear procedures were needed to ensure the prompt identification of persons seeking international protection at land borders and arrivals by sea; what measures were being taken in this regard? What had been done to strengthen the National Commission for Refugees?

    The Committee had been told that asylum seekers remained excluded from the national medical insurance scheme and did not have access to medical services pending a decision on their refugee status. What steps had been taken to extend primary health care to asylum seekers who were awaiting a final decision on their refugee status? What efforts had the Gabonese Government made to develop and implement a statelessness determination procedure? The Committee had been informed that many foreigners were forced by the administrative services to add so-called “Gabonese” surnames to their surnames, which discouraged some parents of children born in Gabon from finalising the procedures for obtaining Gabonese nationality or identity documents; what measures had been taken to address these situations?

    What was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? Did forced labour include domestic servitude, commercial exploitation and sexual exploitation? What was the profile of the perpetrators of human trafficking, their gender, and their nationality? How many cases had been prosecuted and convicted? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children? Had appropriate resources been allocated to the National Commission for the Prevention and Combatting of Trafficking in Persons to enable it to carry out its mandate?

    Responses by the Delegation

    The delegation said a guide had been produced to inform people on how to tackle different forms of violence, including sexual violence, and how to support victims. A specific programme had been developed for indigenous children with nomadic lifestyles. Gabon provided support to refugees and asylum seekers as required. The right to health was recognised as a universal human right. Those in an irregular situation received healthcare regardless of their status.

    There was a small number of cases of irregular migration in Gabon today. In recent years, it was ensured that migrants in an irregular situation had been provided with documents and put into a regular situation.

    In 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Transnational networks existed, operating by both land and sea. Underground networks operated trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases. Trafficking was a transnational problem, and it was important to go back to the country of origin.

    Everyone in Gabon enjoyed the right to freedom of assembly. Indigenous peoples were dealt with on an equal footing, the same way as other citizens in Gabon. They were appropriately supported if they wished to establish associations. If the laws on equal treatment were not respected, appropriate penalties would be handed down.

    Legislation established the National Commission for the Prevention of Human Trafficking in Gabon. The Commission spearheaded a national strategy to counter trafficking. Gabon was a party to the 1951 Geneva Convention on Refugees. An appeals mechanism existed for those who were not satisfied with their asylum decision. There were no refugee camps in Gabon; refugees and asylum seekers shared the same schools and hospitals as Gabonese citizens. A refugee held the same rights as a Gabonese citizen. A refugee card was issued and gave access to many of the same rights as an identity card.

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, congratulated Gabon on the mechanism adopted to tackle human trafficking. Could statistics on the number of stateless people be provided? 

    A Committee Expert asked what steps had been taken by the Gabonese Government to push back against hate speech and xenophobia? Would Gabon ratify the Convention on the Rights of Migrants and Members of their Families?

    Another Expert asked if history education was compulsory in the State party at all levels of the education system? Given the colonial legacy of the State party, to what extent did the educational curricula cover this issue? Was Gabon supportive of the concept of reparations for colonial wrongs?

    A Committee Expert asked if any measures had been taken to eradicate malaria, particularly among migrants and asylum seekers?

    Another Expert asked how refugees were cared for in Gabon, including accommodation needs, in light of the fact that there were no camps?

    An Expert said Gabon had made good progress in regard to the education of children with disabilities. Had Gabon ratified the Convention on the Protection of Persons with Disabilities, and instruments on displaced persons.

    One Expert paid tribute to the father of the Gabonese nation.

    Responses by the Delegation

    The delegation said in history classes in public schools, there was no political link with colonialism. The curriculum was based on the programme drafted by a national pedological institution.

    Closing Remarks

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-up Rapporteur , said it would be the first time that Gabon would receive recommendations with a follow-up. Several recommendations would be highlighted for follow-up within one year.

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Ms. Esseneme thanked all those who had made the dialogue possible, especially in the hybrid format. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , thanked the Committee for the constructive and respectful exchange which had taken place. The Committee’s questions had provided an opportunity to share more information about the situation in Gabon. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. Gabon would respond within the timeframes indicated. Gabon would take steps to ensure the optimal implementation of the provisions enshrined within the Convention, working with all stakeholders involved in human rights.

    _______________

    CERD25.007E

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    MIL OSI United Nations News

  • MIL-OSI USA: SPC Severe Thunderstorm Watch 204

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL4

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Severe Thunderstorm Watch Number 204
    NWS Storm Prediction Center Norman OK
    230 PM CDT Thu May 1 2025

    The NWS Storm Prediction Center has issued a

    * Severe Thunderstorm Watch for portions of
    Central Texas

    * Effective this Thursday afternoon and evening from 230 PM until
    900 PM CDT.

    * Primary threats include…
    Scattered large hail and isolated very large hail events to 2.5
    inches in diameter likely
    Scattered damaging wind gusts to 70 mph likely

    SUMMARY…Isolated but intense thunderstorms are expected to form
    this afternoon in a very moist and unstable air mass. Slow-moving
    supercells capable of very large hail appear to be the main concern.

    The severe thunderstorm watch area is approximately along and 40
    statute miles north and south of a line from 115 miles west of
    Temple TX to 65 miles east southeast of Temple TX. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU4).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Severe Thunderstorm Watch means conditions are
    favorable for severe thunderstorms in and close to the watch area.
    Persons in these areas should be on the lookout for threatening
    weather conditions and listen for later statements and possible
    warnings. Severe thunderstorms can and occasionally do produce
    tornadoes.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 203…

    AVIATION…A few severe thunderstorms with hail surface and aloft to
    2.5 inches. Extreme turbulence and surface wind gusts to 60 knots. A
    few cumulonimbi with maximum tops to 500. Mean storm motion vector
    24035.

    …Hart

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW4
    WW 204 SEVERE TSTM TX 011930Z – 020200Z
    AXIS..40 STATUTE MILES NORTH AND SOUTH OF LINE..
    115W TPL/TEMPLE TX/ – 65ESE TPL/TEMPLE TX/
    ..AVIATION COORDS.. 35NM N/S /40NE JCT – 63ENE CWK/
    HAIL SURFACE AND ALOFT..2.5 INCHES. WIND GUSTS..60 KNOTS.
    MAX TOPS TO 500. MEAN STORM MOTION VECTOR 24035.

    LAT…LON 31719936 31369641 30219641 30569936

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU4.

    Watch 204 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Low ( 2 inches

    Mod (60%)

    Combined Severe Hail/Wind

    Probability of 6 or more combined severe hail/wind events

    High (>95%)

    For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.

    MIL OSI USA News

  • MIL-OSI USA: News Release – DOH Encourages Community Awareness and Support for Mental Health

    Source: US State of Hawaii

    News Release – DOH Encourages Community Awareness and Support for Mental Health

    Posted on May 1, 2025 in Latest Department News, Newsroom

     

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF HEALTH

    KA ʻOIHANA OLAKINO

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIA‘ĀINA

    KENNETH S. FINK, M.D., MGA, MPH
    DIRECTOR

    KA LUNA HO‘OKELE

    DOH ENCOURAGES COMMUNITY AWARENESS AND SUPPORT FOR MENTAL HEALTH

    FOR IMMEDIATE RELEASE

    May 1, 2025                                                                                                    25-045

    HONOLULU — The Hawaiʻi Department of Health (DOH), Child and Adolescent Mental Health Division (CAMHD), Adult Mental Health Division (AMHD), the Children’s Mental Health Acceptance (CMHA) Planning Hui and community partners are joining together in May to celebrate Mental Health Month.

    “We are committed to removing barriers for those seeking help and supporting people with the resources they need to care for themselves and their families,” said Tia L. R. Hartsock, director of the Office of Wellness and Resilience, housed in the Office of the Governor. “Together with partners like CAMHD and AMHD, we’re working to create resilient communities where no one feels shame about their struggles, and we reach out when having a hard time — whether it’s talking story with a friend or professional help.”

    Mental Health Month reminds us that it is essential for us to build supportive communities that empower those in need to seek the support and treatment they deserve. Mental health is a significant public health issue for all ages:
    • One in seven youth has a mental or behavioral health disorder, and
    • One in five adults live with a mental illness.

    Mental Health in Hawaiʻi

     

    • Fewer than one out of four public middle school students (about 23%) and about one out of five high school students (about 20%) got the kind of help they needed most of the time or always (among students who reported having felt sad, empty, hopeless, angry, or anxious).
    • Of public middle school students, about 34% have felt sad or hopeless almost every day for two or more weeks in a row, so they stopped doing some usual activities; about 26% have seriously thought about killing themselves.
    • Of public high school students, in the past 12 months, about 35% felt sad or hopeless almost every day for two or more weeks in a row, so they stopped doing some usual activities; about 16% have seriously considered attempting suicide.

    “Too many of our keiki feel like they don’t know how to get the help they need,” said Keli Acquaro, administrator for CAMHD. “Every child deserves to feel seen, heard and supported when it comes to their mental health. Show the young people in your life that their mental health matters – listen without judgment, offer support and remind them they are not alone.”

    • More than one in three adults (37.1%) reported at least one day in the past 30 days when their mental health was not good.
    • More than one in eight adults (13.9%) have been diagnosed with a depressive disorder by a health professional.

    “Mental health challenges touch many lives in Hawaiʻi, and prioritizing mental well-being is essential for the health of our entire community,” said Dr. Gavin Takenaka, administrator for AMHD.

    Mental Health Month Events Statewide

    Help spread the word and join in sign waving on May 8. Stand alongside mental health providers, community organizations and advocates statewide and sign wave to bring awareness to the importance of mental health. For information about this and other statewide events, please visit keikimentalhealthmatters.com.

    Green is the national color of mental health acceptance, representing hope, strength, support and encouragement for people with mental health concerns. The following buildings will display green lights in support of mental health:

    Oʻahu:

    • May 1-31: Hawai‘i State Capitol, Board of Water Supply, Hawaiʻi Medical Service Association (HMSA), Pali Momi Medical Center, Nalu Lani Plaza (Kakaʻako), Hawaiʻi Self Storage (Kaimukī and Kapolei), Hawaiki Tower and Windward Mall
    • April 28-May 2: IBM Building
    • May 5-9: Adventist Health Castle
    • May 26-30: Honolulu Hale and Blaisdell Center Arena

    Kauaʻi:

    • May 1-31: YWCA of Kauaʻi and Wilcox Medical Center
    • May 1-15 and 22-31: Kaua‘i Veterans Center & Museum
    If you or someone you know is experiencing a crisis or is in need of mental health support or resources call or text 988 or visit Hawai‘i CARES 988 to connect with a locally trained counselor 24/7 who can help with linkage to behavioral health crisis services. Call Aloha United Way 211 or text, chat or email for over 4,000 local resources.

    # # #

    Media Contacts:

    Kristen Wong

    Information Specialist

    Hawaiʻi State Department of Health

    Mobile: 808-953-9616

    Jennifer Irvine

    Public Information Specialist

    Child & Adolescent Mental Health Division

    Hawaiʻi State Department of Health

    Office: 808-733-9346

    MIL OSI USA News

  • MIL-OSI USA: California’s population increases — again

    Source: US State of California 2

    May 1, 2025

    What you need to know: For the second year in a row, California’s Department of Finance released data showing the Golden State’s population grew. In 2024, the state added more than 100,000 residents.

    SACRAMENTO — Today, Governor Gavin Newsom announced that California’s population grew by 108,000 people in calendar year 2024, reaching 39,529,000 people as of January 1st, 2025 — according to new data from the California Department of Finance.

    “People from across the nation and the globe are coming to the Golden State to pursue the California Dream, where rights are protected and people are respected. As the fourth largest economy in the world — from the Inland Empire to the Bay Area — regions throughout California are growing, strengthening local communities and boosting our state’s future. We’ll continue to cut tape, invest in people, and seek real results from government to ensure we build on this momentum – all of which are at risk with the extreme and uncertain tariffs.”

    Governor Gavin Newsom

    This increase marks the second consecutive calendar year of population growth. Additionally, this report reflects an upward revision of California’s January 2024 population, which saw a growth of 192,219 people (year over year) — up from the previously estimated increase of 67,104 people. And an upward revision of California’s January 2023 population, which saw a growth of 48,764 people (year over year) — up from the previously estimated decrease of 53,727 people.

    Factors for growth

    • Higher 2024 K-8 enrollment by 13,890 compared to 2023.

    • An increase in the 65-and-older population of 25,298 people in 2024, up from 6,622,031 people reported last year.

    • Natural increase — the net result of births minus deaths — contributed 114,805 to overall population growth in 2024, largely in line with the growth of 105,550 in 2023.

    • More data sources to better estimate California’s share of recent increases in legal immigration to the U.S. from 2021 to 2024, showing 277,468 more immigrants to the state during this period than in the 2023 estimate. This data only includes legal immigration.

    A look at city and county data

    The report contains preliminary year-over-year January 2025 and revised January 2021 through January 2024 population data for California cities, counties, and the state. It’s important to note that these estimates are based on information as of January 1, 2025, and therefore do not include data for the Los Angeles County wildfires later that month.

    • California’s 58 counties range in size from Alpine County, with just over 1,170 residents, to Los Angeles County with 9.9 million residents. The population increased in 35 counties, with most growth in the Central Valley, the Inland Empire, and coastal counties. Population gains reflect natural increase exceeding losses in net total migration.

    • The state’s ten largest counties remain Los Angeles, San Diego, Orange, Riverside, San Bernardino, Santa Clara, Alameda, Sacramento, Contra Costa, and Fresno, with each having more than one million residents. These ten counties represent 72 percent of California’s population. 

    • Nine of the ten counties with one million or more people have positive population growth, leaving Contra Costa as the only county with a very small population loss of 24 people. Los Angeles led with an increase of 28,000 persons. 

    • Population growth rates ranged from a high of 2.88 percent in Lassen County to a low of -1.58 percent in Mono County. The next five largest in percentage growth were Glenn (1.35 percent), Fresno (0.87 percent), Sutter (0.83 percent), Imperial (0.81 percent), and Tulare (0.73 percent).

    Recent Census Bureau revisions

    In addition to the report released by the Department of Finance, the U.S. Census Bureau (which measures on a fiscal calendar year versus DOF’s calendar year) released updated information showing California’s population increasing as well  — with several key revisions upwards:

    • July 1, 2023 to June 30, 2024, California’s population increased by more than 225,000 people.

    • July 1, 2022 to June 30, 2023: California’s population increased by more than 50,000 people. NOTE: This was revised up from the originally reported 75,000+ decrease.

    • July 1, 2021 to June 30, 2022: California’s population decreased by just 151 people. NOTE: This was revised up from the originally reported 100,000+ decrease.

    Busting myths

    Despite the common myth of a continually declining population, California has only saw a short period of population loss in its 174 year history — during the peak of the COVID pandemic, when it decreased by 379,544 people (which represents about 1% decrease over those two years), according to the U.S. Census Bureau.

    During the same period, from July 1, 2021 to June 30, 2022, 10 states saw larger population decreases, with Louisiana — led by a Republican Governor and legislature — seeing the largest percent decrease. And 13 states also saw population decreases from July 1, 2020 to June 30, 2021.

    California leads the way

    Building on the second year of population growth, California leads the way in tourism spending, and was just announced as the fourth largest economy, moving up from fifth, in the world by the International Monetary Fund. California is also home to the most Fortune 500 companies and most Inc. 5000 companies. And, California leads the way nationally as the #1 state for new business starts, access to venture capital funding, manufacturing, high-tech, and agriculture.

    Recent news

    News What you need to know: House Republicans used an illegal tactic to attempt to overrule California’s clean cars and trucks program that has decreased smog and protected Californians’ health. SACRAMENTO — Governor Gavin Newsom issued the following statement today…

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring April 30, 2025, as “Apprenticeship Day.”The text of the proclamation and a copy can be found below. PROCLAMATIONNational Apprenticeship Day is a nationwide celebration…

    News What you need to know: The state of California is providing LA City and County a new AI-powered e-check software free of charge to speed the pace at which local governments are approving building permits. LOS ANGELES – Leveraging the power of private sector…

    MIL OSI USA News

  • MIL-OSI USA: Governor Newsom on illegal House effort to curb California’s tools for cleaning the air: ‘Making California smoggy again’

    Source: US State of California 2

    May 1, 2025

    What you need to know: House Republicans used an illegal tactic to attempt to overrule California’s clean cars and trucks program that has decreased smog and protected Californians’ health.

    SACRAMENTO — Governor Gavin Newsom issued the following statement today in response to the House vote targeting California’s clean vehicles program.

    The Republican-controlled House illegally used the Congressional Review Act (CRA) today to attempt to repeal California’s Clean Air Act waivers, which authorize California’s clean cars and trucks program. This defies decades of precedent of these waivers not being subject to the CRA, and contradicts the non-partisan Government Accountability Office and Senate Parliamentarian, who both ruled that the CRA’s short-circuited process does not apply to the waivers.

    Trump Republicans are hellbent on making California smoggy again. Clean air didn’t used to be political. In fact, we can thank Ronald Reagan and Richard Nixon for our decades-old authority to clean our air.

    The only thing that’s changed is that big polluters and the right-wing propaganda machine have succeeded in buying off the Republican Party – and now the House is using a tactic that the Senate’s own parliamentarian has said is lawless. Our vehicles program helps clean the air for all Californians, and we’ll continue defending it. Washington may want to cede our economy to China but California is standing by American innovation.

    Governor Gavin Newsom

    The state’s efforts to clean its air ramped up under then-Governor Ronald Reagan when he established the California Air Resources Board. California’s Clean Air Act waivers date back to the Nixon Administration – allowing the state to set standards necessary for cleaning up some of the worst air pollution in the country. 

    California’s climate leadership

    Pollution is down and the economy is up. Greenhouse gas emissions in California are down 20% since 2000 – even as the state’s GDP increased 78% in that same time period.

    The state continues to set clean energy records. Last year, California ran on 100% clean electricity for the equivalent of 51 days – with the grid running on 100% clean energy for some period two out of every three days. Since the beginning of the Newsom Administration, battery storage is up to over 13,000 megawatts – a 1,600%+ increase.

    California’s clean air authority

    Since the Clean Air Act was adopted in 1970, the U.S. EPA has granted California more than 100 waivers for its clean air and climate efforts. California has always demonstrated that its standards are feasible, and that manufacturers have enough lead time to develop the technology to meet them. It has done so for every waiver it has submitted. 

    Waivers do not expire and there is no process for revoking a waiver – which makes sense because governments and industry rely on market certainty waivers provide for years after they are granted to deliver clean vehicles and develop clean air plans. 

    Although California standards have dramatically improved air quality, the state’s unique geography means air quality goals still require continued progress on vehicle emissions. Five of the ten cities with the worst air pollution nationwide are in California. Ten million Californians in the San Joaquin Valley and Los Angeles air basins currently live under what is known as “severe nonattainment” conditions for ozone. People in these areas suffer unusually high rates of asthma and cardiopulmonary disease. Zero-emission vehicles are a critical part of the plan to protect Californians.

    Press Releases, Recent News

    Recent news

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring April 30, 2025, as “Apprenticeship Day.”The text of the proclamation and a copy can be found below. PROCLAMATIONNational Apprenticeship Day is a nationwide celebration…

    News What you need to know: The state of California is providing LA City and County a new AI-powered e-check software free of charge to speed the pace at which local governments are approving building permits. LOS ANGELES – Leveraging the power of private sector…

    News What you need to know: Governor Gavin Newsom and the Department of Housing and Community Development today announced the awards of $118.9 million in federal funding for 29 California rural and tribal communities to create more affordable housing and supportive…

    MIL OSI USA News

  • MIL-OSI Economics: Deepening our investment in our Cloud Solution Provider partners

    Source: Microsoft

    Headline: Deepening our investment in our Cloud Solution Provider partners

    The Microsoft mission is clear: empower every person and every organization on the planet to achieve more. Our partners enable us to deliver this mission in every customer segment, industry, and region.

    At Microsoft Ignite 2024, we put a spotlight on the $661 billion total addressable market (TAM) opportunity for small and medium enterprise customer segments in FY25 and beyond.* Cloud Solution Provider (CSP) partners are the trusted advisors who serve these customers and enable them to accelerate their AI transformation with the value-added services and solutions that create real business impact. CSP is our hero motion that enables those partners to drive this transformation.

    Today, I’m pleased to announce additional updates designed to help CSP partners drive more renewals and upgrades, retain customers, upsell, and scale their businesses. At the same time, we will deepen our investment in the partners who are delivering transformational impact with customers, aligned to our strategic imperatives.

    Today’s announcements are a continuation of our investments in CSP offers, capabilities, and enablement for FY25, through which we:

    • Aligned incentives to our five strategic priorities: Copilot on every device across every role; AI design wins with every customer; securing the cyber foundation of every customer; migrations, migrations, migrations; and Microsoft 365 core execution.
    • Dedicated 70% of our total partner incentives to partners that serve the small and medium enterprise customer segments.
    • Launched new capabilities that help partners access, review, and respond to jointly planned leads shared by small and medium enterprise customer sellers and track progress and performance between Partner Center and MSX.
    • Introduced a series of new promotions, including our new-to-Microsoft 365 E5 offer to help CSP partners win new customers. 
       

    Introducing three-year subscription terms in CSP

    To expand deal-making capabilities and offer a more consistent experience across purchasing channels, including those transitioning from expiring Enterprise Agreements (EAs), we’re launching three-year subscription terms for Microsoft 365 E3 and E5, with or without Teams, as well as Teams Enterprise licenses in CSP on June 1, 2025. They will be available for purchase with three-year upfront or triennial/annual billing options only.

    The new three-year SKUs for E3 and E5 without Teams and Teams Enterprise standalone SKUs will be generally available on the CSP price list on June 1, 2025. These SKUs will appear on the May 1, 2025, CSP price list preview in the Partner Center pricing workspace.** The new three-year SKUs for E3 and E5 with Teams will only be available on the end of sale (EOS) price list in Partner Center on June 1, 2025. There is no price list preview for the EOS price list.

    At either midterm or renewal, you’ll be able to change E3 and E5 subscription terms for customers who have EOS SKUs of Microsoft 365 and Office 365 Enterprise suites with Teams to these new three-year EOS terms.

    In addition, effective July 1, 2025, a three-year subscription for Microsoft 365 E5 Security and E5 Compliance mini suites will also be available.

    And to help you transition customers from on-premises solutions or upgrade them from Office 365, we’re launching new 10% discount promotions for new-to-E3 or new-to-E5 customers on the CSP three-year subscription terms. The E3 and E5 promotion will be available on June 9, 2025, while the E5 mini suite promotion will be available on July 1, 2025.

    We’re also extending the Microsoft 365 Copilot Getting Started discount promotion through June 30, 2025. 
     

    Simplifying renewals and upgrades

    Based on partner feedback, we made two important process improvements on April 1, 2025, making it easier to transition customers from EA to CSP and reducing the processing time for midterm upgrades.

    • We launched a channel transfers interface in Partner Center that helps partners renew expiring EA offers for Microsoft 365 E3 and E5 with Teams and Office 365 E1, E3, and E5 with Teams—which are EOS—into CSP and maintain the customers’ Teams entitlements.
    • We also introduced AI-powered automation that streamlines midterm upgrades by handling subscription cancellations and credits automatically. The result: fewer duplicate SKUs and a reduction of support resolution times down to one day or less. 
       

    Introducing Net Paid Seat Adds reporting in Partner Center

    One of the frequent requests we get from partners is to help you understand the state of your Microsoft 365 install base and act when needed. We’re making Net Paid Seat Adds (NPSA) reporting available in Partner Center in June 2025. This reporting will provide visibility into the same performance metrics that Microsoft employees can access internally, creating more clarity during business reviews and stronger joint execution. 
     

    Deepening our investment in building a capable, sustainable CSP ecosystem

    We strive to provide partners with offers, capabilities, and enablement to make the TAM opportunity a reality. We want to ensure our CSP partner ecosystem is well-positioned to create the seamless solutions and experiences our customers have come to expect while accelerating growth opportunities. Starting October 1, 2025, we’re introducing new authorization requirements that will apply to direct bill partners, distributors (formerly indirect providers), and indirect resellers. 
     

    Eligibility thresholds

    We’ll also roll out updated eligibility requirements for CSP incentives in FY26. These updates will align with the CSP authorization changes, requiring CSP direct bill partners, distributors, and indirect resellers to have streamlined and relevant expertise by solution area.  
     

    Let’s achieve more—together

    I am continually inspired by our partners and the impact you’ve made for customers of all sizes as you empower them to succeed with Microsoft solutions. We continue to make investments such as these to make it easier for you to deliver innovation, drive impact, and build lasting customer relationships.

    Join us on May 6, 2025, for our Accelerate CSP Growth with Corporate customers and new Copilot value webinar to learn about the latest Microsoft 365 offers and promotions, get updates on Copilot and agents, and access resources to help you drive AI adoption.

    On July 15, 2025, MCAPS Start for Partners will go deeper on our priorities and GTM strategies and will have dedicated CSP breakout sessions. I encourage everyone to mark that date in your calendar and join us as we build excitement for FY26. Registration details will be sent soon.

    Together, we can shape the future of AI for small and medium enterprise customers in FY25 and beyond.

    Join the conversation on Microsoft Partner Community’s CSP partners discussion board.

    *Microsoft estimates based on IDC data, October 2024. Throughout this document, $ refers to US dollar (USD).

    **Note: There are two errors on the May 1, 2025, price list preview for non-European Economic Area markets.

    • The Microsoft 365 E5 no Teams – 3-Year SMC SKUs are absent from the May 1, 2025, price list preview.
    • The Microsoft Teams Enterprise – 3-Year SMC SKUs are mistakenly listed with a June 1, 2025, “EOS Start Date.” It should have a June 1, 2025, “GA Start Date.”

    The May 1, 2025, price list preview will be corrected and republished on May 8, 2025. These errors will not impact transactability beginning on June 1, 2025.

    MIL OSI Economics

  • MIL-OSI Economics: Copilot research insights: 4 lessons for leaders

    Source: Microsoft

    Headline: Copilot research insights: 4 lessons for leaders

    This story is featured in the WorkLab newsletter. Sign up for it here.

    Over the past year, Microsoft researchers have been studying the effects of AI at work through a series of real-world experiments at companies that are using Copilot. The setup was simple: one group used Copilot, the other didn’t.  
     
    Across the board, people using Copilot worked faster and produced better results. But our findings also surfaced new patterns in how people work, learn, and adapt. Here are four takeaways that leaders can apply to their own AI adoption as we move into an era of intelligence on tap and increasing collaboration between humans and agents. 

    1. AI is already embedded in how we work 
    In many of our studies, members of the control group, who were not supposed to use AI, used it anyway. This is consistent with our data showing that employees who are not provided with AI at work will seek it out themselves (BYOAI). There’s no such thing as a “non-user” anymore: AI is already embedded in how people think, work, and get things done. 

    This presents an opportunity for every leader and company. Imagine you could go back to the early days of the internet, when individuals were already using it widely but companies were still figuring out how to apply it to business. What would you do differently? Frontier Firms—structured around on-demand intelligence and powered by “hybrid” teams of humans + agents—hold key lessons for how to grab this once-in-a-generation opportunity and are poised to get unprecedented value from AI. To seize the moment, start by hiring your first digital employees, setting your unique human-agent ratio, and driving broad, purposeful adoption. 

    2. Scale what works 
    To evaluate how well employees performed on complex, job-specific tasks, our researchers needed a way to assess quality—even though they weren’t experts in, say, root cause analysis. So they turned to Copilot, building an AI grader to help understand the quality of the responses they got. First, a leader at the company where the study took place validated what a high-quality version of the finished product looked like. Against that measuring stick, Copilot was able to objectively evaluate all study participants’ work and assign each a qualitative score. 

    This is a powerful AI use case for business leaders. According to our latest Work Trend Index, 55% of employees at Frontier Firms say they’re able to take on more work—partly because they use Copilot to pressure-test deliverables, benchmark quality, and surface blind spots without waiting for manager review. This can be as simple as training an agent on how you and other leaders have critiqued your team’s previous work so employees can run a first-pass review. 

    The overall takeaway: real AI transformation happens when organizations capture what works and scale it across teams. By formalizing best practices—as in the agent example above—and codifying them with AI, companies can ensure consistent quality and faster decision-making. This ability to operationalize AI learnings is what sets Frontier Firms apart from those still experimenting. 

    3. Skilling can’t be an afterthought 
    One theme that showed up across the Copilot research: the biggest performance gains actually came when study subjects received guidance on how to apply AI to specific job tasks. 

    In one study, our researchers developed optimal prompts that subjects could use. Employees provided with these prompts and tips on how best to leverage AI saw the biggest positive impact on performance. The key is making the connection between what someone needs to do and how AI can help them do it better. 
     
    To see meaningful results, leaders need to go beyond access and focus on enablement: clear guidance, real-world use cases, and training that connects AI directly to the work employees are doing. When people understand how to use AI with purpose, they’ll see better results. 

    4. Get your processes in order 
    Just as targeted guidance helps individuals, structured processes help teams get the most from AI. Across our experiments, the biggest improvements came when participants had clear goals, well-defined tasks, and access to organized resources—like structured SharePoint libraries or shared templates. In those cases, Copilot acted as a powerful amplifier. But when processes were disorganized—unclear roles, messy documents, lack of shared understanding—performance improvements were limited.  

    AI can accelerate work, but it can’t untangle dysfunction. Before layering on AI, clarify goals, align teams, and clean up the systems people rely on every day.  

    When it comes to AI transformation, we’re all learning as we go. Becoming a Frontier Firm is about experimentation, capturing what you learn, and quickly applying those lessons to scale fast—empowering everyone for a new world of work.  

    MIL OSI Economics

  • MIL-OSI: XRP News: XploradDEX $XP Token Explodes 1,500% in 24 Hours — Market Cap Quadruples as FOMO Grips XRP Traders

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, May 01, 2025 (GLOBE NEWSWIRE) — XploraDEX’s native token, $XPL, has sent shockwaves across the XRP ecosystem after surging over 1,500% in just 24 hours. From a humble market cap of $70K at launch, $XPL has now ballooned to over $288K, sparking an aggressive wave of buying activity and cementing its place as one of the most explosive DeFi launches on the XRP Ledger to date.

    Buy $XPL on MagneticX Exchange

    Massive Momentum: 24-Hour Snapshot

    • 24H Price Change: +1,500%
    • 24H Low: 0.00000411 XRP
    • 24H High: 0.000172 XRP
    • Market Cap: $288,000 (from a $70K launch)
    • 24H Volume: 8,100 XRP
    • Listed on 132 exchanges

    XPL’s jaw-dropping performance has ignited widespread FOMO among XRP traders and DeFi enthusiasts. Since going live on MagneticXc, the token has seen relentless upward price pressure, with new buyers flooding in as it enters its first wave of price discovery.

    Purchase $XPL on MagneticX

    Why This Rally Is Different

    This isn’t a typical meme pump or hype play. $XPL is the gateway to XploraDEX, the first AI-powered decentralized exchange on XRPL. Unlike many tokens that launch with vague promises, XploraDEX is already delivering real utility, including:

    • AI-integrated trading dashboards
    • Smart order execution and automation tools
    • Staking and yield opportunities
    • Governance and protocol voting
    • Launchpad access for future XRPL projects

    The token’s early success is being driven by real utility, cutting-edge technology, and a strong community of early believers who understand the long-term upside of AI-enabled DeFi on one of the world’s fastest blockchains.

    Buy $XPL Token on MagneticX DEX

    The Community Is On Fire

    Telegram is buzzing. Trading pairs on MagneticXc are heating up. And wallets are connecting in record numbers. With 132 exchanges already listing $XPL and 24-hour volume exceeding 8K XRP, the market is clearly responding.

    Early adopters have already seen 15x gains. But with a modest $288K market cap, analysts believe $XPL may just be getting started. As XploraDEX rolls out its staking pools and governance portal in the coming days, more buying pressure could follow.

    Purchase $XPL on MagneticX

    The FOMO is real—and rising.

    If you missed the presale, this is your chance to enter before the next wave pushes the price even higher. The market cap is still under $300K, leaving massive upside potential as more users discover the utility behind $XPL.

    Buy $XPL on MagneticX: https://xmagnetic.org/swap/XPL+rGdwJSadiYfRZcq51A1CKzLmQ4yuBVcYgy_XRP+XRP?network=mainnet

    Stay connected and Join the XploraDEX AI Revolution

    Website | Buy $XPL on DEX | X | Telegram

    Contact:
    Oliver Muller
    oliver@xploradex.io
    contact@xploradex.io

    Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Globenewswire does not endorse any content on this page.

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    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4d69a130-b380-4c88-8126-5b6fb453f1f5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4b537917-6702-4b72-aa5c-a1da7aea99e2

    The MIL Network

  • MIL-OSI Asia-Pac: Need to transform global IP ecosystem; IP acts as catalyst for employment, development and innovation for all countries: Daren Tang, Director General, WIPO

    Source: Government of India

    Need to transform global IP ecosystem; IP acts as catalyst for employment, development and innovation for all countries: Daren Tang, Director General, WIPO

    The session on “The Role of IP & Copyright for Audio-Visual Performers and Content Creators” sparks insightful dialogue at WAVES 2025

    Posted On: 01 MAY 2025 8:06PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    A panel discussion titled “The Role of IP & Copyright for Audio-Visual Performers and Content Creators” was held today at the World Audio Visual and Entertainment Summit (WAVES) currently underway at the Jio World Centre in Mumbai. This session brought together influential voices from the global entertainment, legal and creative industries to discuss the role of intellectual property (IP) rights in empowering creators in the digital age.

    The panel addressed the evolving legal landscape and highlighted the urgent need for stronger awareness and protection of IP rights, especially for performers and content creators whose work is increasingly vulnerable to unauthorised use and exploitation.

    Shri Ameet Datta, veteran lawyer, moderated the session, steering a dynamic discussion among an esteemed panel of experts and creators. The panel included Mr. Daren Tang, Director General of the World Intellectual Property Organization (WIPO), who offered a global perspective on policy frameworks and WIPO’s efforts to strengthen protections for performers worldwide. He said that India’s IP journey in last 5 decades is extraordinary and its creative economy grows tremendously. He said that there is a need to transform global IP ecosystem as IP acts as catalyst for employment, development and innovation for all countries. Talking about WIPO’s creative economy data model, he said that it is helping policy makers, economists and creators of its member states to find better metrics to measure creative economy.

    Feroz Abbas Khan, acclaimed director and playwright, shared insights from his decades-long experience in theatre and the challenges of safeguarding original creative works. He said that IP is about human dignity and society should first respect the work of artists.

    Steve Krone, noted film and television producer, emphasized the importance of copyright in protecting investments in audio-visual storytelling and the need for standardized global enforcement mechanisms. He said that copyright is not just about money but about controlling the works of creators from exploitation.

    Anjum Rajabali, veteran screenwriter, spoke about the creative process and the necessity for writers to understand and claim their rights in an increasingly complex content economy. He said that today access is far easy and restrictions should be there.

    Throughout the session, the panellists delved deeply into copyright ownership, licensing, moral rights, the impact of AI and the balance between access and protection in a rapidly digitising world.

     

    * * *

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Mukesh Ambani Unveils Vision for India-Led Global Entertainment Revolution at WAVES 2025

    Source: Government of India

    Mukesh Ambani Unveils Vision for India-Led Global Entertainment Revolution at WAVES 2025

    Let ‘WAVES’ be the message of hope from a resurgent new India to the world: Mukesh Ambani

    Media & Entertainment is not just India’s soft power—It’s India’s real power: Ambani

    Posted On: 01 MAY 2025 8:32PM by PIB Mumbai

    Mumbai, 1 May 2025

    “India is not just a nation—it is a civilization of stories, where story-telling is a way of life”, said Shri Mukesh Ambani, Chairman and Managing Director of Reliance Industries, as he delivered the keynote address at WAVES 2025, the pioneering global media and entertainment summit started in Mumbai today.

    In a rousing and forward-looking address titled “Building the Next Global Entertainment Revolution from India,” Ambani envisioned a future where India becomes the epicentre of the world’s entertainment industry. He credited the bold vision of Prime Minister Shri Narendra Modi for inspiring this transformation and hailed the WAVE Summit as a historic step in that direction. “People say Media & Entertainment is India’s soft power—I call it India’s real power,” said Ambani, affirming the country’s rising influence in global culture and creativity.

    He identified two tectonic shifts reshaping the creative landscape: geo-economics and technology. As the economic might of the Global South surges—home to 85% of the world’s population—so does its role in content creation and consumption. At the same time, cutting-edge technologies like Artificial Intelligence are revolutionizing every stage of the entertainment value chain, from content creation to distribution. “AI is dissolving the boundaries between imagination and execution. What AI is doing for entertainment today is a million times more transformative than what the silent camera did for cinema a century ago”, he flagged.

    Highlighting India’s unique strengths, Ambani said that the country is poised to lead the entertainment revolution, powered by three pillars; Compelling Content, Dynamic Demography and Technological Leadership. “India’s digital revolution is not just a story of scale—it is a story of aspiration, ambition, and transformation,” he declared.

    Concluding his keynote, Ambani offered a message of optimism: “In a polarized and uncertain world, people seek joy, connection, and inspiration. India will answer this global hunger for entertainment. Let WAVES be the message of hope from a resurgent new India to the world.”

     

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India Post Payments Bank Reiterates its Commitment to the Labour Force of India, this Labour Day

    Source: Government of India

    Posted On: 01 MAY 2025 8:22PM by PIB Delhi

    • IPPB introduced Antyodaya Shramik Suraksha Yojana in 2023, an affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers.

    On the occasion of Labour Day, India Post Payments Bank reiterates its commitment to the welfare of Shramiks or labourers. IPPB launched the Antyodaya Shramik Suraksha Yojana (ASSY) for unorganised sector workers, a visionary and affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers. The scheme was launched by the Hon’ble Chief Minister of Gujarat on 8th July 2023 at Kheda, Gujarat.

    Since the inception of ASSY, a total of 6,97,531 policies have been issued to labourers or Shramiks. A total of 355 claims have been settled and claim amount of Rs. 5,41,17,754 has been disbursed. The scheme is being offered through IPPB & issued by its six insurance partners including New India Assurance, Bajaj Allianz general Insurance, TATA AIG General Insurance, Niva Bupa Health Insurance, Aditya Birla Health Insurance and Start Health.

    Sharing his thoughts on Labour Day, Mr. R. Viswesvaran, MD & CEO, India Post Payments Bank said “We are committed to the welfare and upliftment of labourers. For this reason, we had implemented the Antyodaya Shramik Suranksha Yojana for the labourers which has helped lakhs of Shramiks improve their quality of life and well-being”.

    With such initiatives IPPB strives to bring life changing experience and access to digital banking at the doorstep of every household of India. IPPB has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    About India Post Payments Bank

    India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.

    IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important, every transaction is significant and every deposit is valuable.

     Reach us at:  www.ippbonline.com  marketing@ippbonline.in

    Social Media Handles:

    Twitter – https://twitter.com/IPPBOnline

    Instagram – https://www.instagram.com/ippbonline

    LinkedIn – https://www.linkedin.com/company/indiapostpaymentsbank

    Facebook – https://www.facebook.com/ippbonline

    YouTube- https://www.youtube.com/@IndiaPostPaymentsBank

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    Samrat/Allen

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  • MIL-OSI Asia-Pac: WAVES 2025 highlights India’s Evolving Broadcast Regulatory Landscape and its Future Challenges

    Source: Government of India

    Posted On: 01 MAY 2025 8:14PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    The media and entertainment (M&E) sector’s evolving landscape and the need for a balanced regulatory framework took prominence at the breakout sessions held as part of the global summit WAVES 2025 which was kickstarted in Mumbai today.

    The breakout session on Regulating Broadcast in the Digital Age – Key Frameworks & Challenges featured prominent voices from international and Indian media regulatory bodies. Panelists included Shri Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TRAI). Ms. Philomena Gnanapragasam, Director, Asia-Pacific Institute for Broadcasting Development (AIBD); Mr. Ahmed Nadeem, Secretary General, Asia-Pacific Broadcasting Union (ABU) and Ms. Carolina Lorenzo, Director, International Affairs, Mediaset.

    Shri Lahoti outlined India’s regulatory evolution from the Cable Television Networks (Regulation) Act of 1995 to the digitisation of cable TV and TRAI’s current focus on consumer choice and quality of service. He emphasised TRAI’s efforts in ensuring a level playing field and advocated for deregulation wherever consumer interests are not compromised.

    The Panelists discussed the rapid rise of Over-the-Top (OTT) platforms and the complexities they introduce. With India’s digital media market reaching USD 9.7 billion in 2024, the need for balanced regulation is paramount. Shri Lahoti underscored TRAI’s proposals for digital radio, simplified network architecture, and a national broadcasting policy.

    Ms. Gnanapragasam highlighted the importance of media literacy in tandem with regulation. Mr. Nadeem advocated for a phased approach to regulation to encourage innovation while ensuring accountability. Ms. Carolina Lorenzo, Director, International Affairs, Mediaset, pointed to Europe’s experience with platform accountability and put light upon the emerging challenges of network effects in software and hardware in technologies such as smart TVs.

    The session concluded with consensus on the need for cohesive regulation while protecting the interests of the consumer and reducing regulatory complexity.

     

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  • MIL-OSI Asia-Pac: AI Meets Creativity: Industry Leaders Outline India’s Role in the Future of Digital Expression at WAVES 2025

    Source: Government of India

    AI Meets Creativity: Industry Leaders Outline India’s Role in the Future of Digital Expression at WAVES 2025

    “AI isn’t here to replace jobs—it’s a means to an end.” — Richard Kerris, NVIDIA

    “Creativity has transformed every industry.” — Shantanu Narayen, Adobe

    Posted On: 01 MAY 2025 8:52PM by PIB Mumbai

    Mumbai, May 1, 2025

     

    WAVES 2025 witnessed a convergence of innovation, creativity, and cutting-edge technology with Artificial Intelligence at the heart of the discourse. Three sessions held on the inaugural day of the Summit in Mumbai today, led by global industry figures, mapped the dynamic intersection of AI with media, storytelling, and digital production—reaffirming India’s rising stature in this creative-technological evolution.

    “Creativity has transformed every industry.” — Shantanu Narayen, Adobe

    In the keynote address on “Design, Media and Creativity in the Age of AI”, Adobe Chairman and CEO Shantanu Narayen offered an expansive perspective on the evolving creative economy. Tracing the digital journey from the internet to mobile and now to artificial intelligence, Narayen pointed to India’s growing role in content creation, with over 500 million Indians consuming online content and a significant shift towards regional languages.

    He stressed that AI is not replacing creativity but amplifying it. “Generative AI is enabling Indian creators to transcend traditional mediums,” he said, noting how it supports diverse storytelling across imaging, video, and design. From cinema to real-time mobile storytelling, the creative potential is expanding.

    Highlighting India’s unique position in building AI-powered frameworks—from applications to data infrastructure—Narayen outlined a four-fold strategy: supercharge creativity and production, innovate business models, lead an AI-skilled workforce, and foster entrepreneurship. He concluded by thanking the Government of India and the Ministry of Information and Broadcasting for creating a visionary platform through WAVES.

    “AI isn’t here to replace jobs—it’s a means to an end.” — Richard Kerris, NVIDIA

    In a thought-provoking fireside chat titled “AI Beyond Work”, Richard Kerris, Vice President at NVIDIA, and Vishal Dhupar, Managing Director, NVIDIA India, explored how AI is redefining personal computing and creative productivity.

    Reflecting on the evolution of the PC era, Dhupar remarked, “PCs used to sleep after office hours. But humans don’t.” He explained how NVIDIA’s early vision—imagining PCs as creative companions—now resonates in a world powered by AI.

    Kerris provided a historical view, recalling the complexities of mastering 3D animation in the past. “Now, with generative AI, we can go from idea to creation much faster,” he said. Yet, he cautioned against losing touch with fundamentals: “Just because we all have a camera on our phone doesn’t make us all great photographers.”

    The speakers agreed that AI enhances human creativity rather than replacing it. “AI puts tools in your hands—but knowing the craft, the basics, that’s still essential,” Kerris stressed. Dhupar concluded: “Creative people live their work. AI doesn’t replace that—it enables it.”

    “Bringing Stories to Life with Gen AI” — Anish Mukherjee, NVIDIA

    The third session, a masterclass by Anish Mukherjee, Solutions Architect at NVIDIA, focused on the practical applications of generative AI in media. Titled “Bringing Stories to Life with Gen AI”, the session spotlighted NVIDIA’s platform approach, moving beyond hardware to transformative tools.

    Mukherjee demonstrated AI-powered solutions including converting static images to digital humans, multilingual voice-overs, and audio-based character animation. Using NVIDIA’s Fugato model, he showcased AI-generated music and realistic lip-syncing for dubbing. He also introduced Cosmos, a suite of foundational models for video generation and simulation-based training via the Omniverse platform.

    Explaining the convergence of large language models with AI animation and DLSS, he noted their role in creating immersive storytelling experiences, especially in game development. “AI-powered characters that respond intelligently to players are redefining narrative engagement,” he said.

    Mukherjee closed with a call to harness compute power, rich datasets, and algorithmic strength to unlock generative AI’s full potential. NVIDIA’s open-source ecosystem, including Nemostack, empowers creators to develop custom models, furthering innovation across industries.

    WAVES 2025: Setting the Stage for AI-Led Creative Transformation

    As discussions unfolded across the sessions, a unifying message emerged—AI is a tool for empowerment, not replacement. Whether in design, film, animation, or storytelling, the future belongs to those who understand the basics, harness new tools responsibly, and build systems rooted in ethics, creativity, and inclusion. WAVES 2025 thus stands as a testament to India’s pivotal role in the global creative and technological landscape.

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  • MIL-OSI Asia-Pac: Day-long Seminar on National Road Safety Policy 2025 organised in New Delhi

    Source: Government of India

    Posted On: 01 MAY 2025 8:12PM by PIB Delhi

    To enhance road safety, enable proactive measures and bring behavioural change among road users, a day-long ‘National Brainstorming Seminar on Road Safety Policy 2025’ was organised by the Ministry of Road Transport and Highways (MoRTH) and National Highways Authority of India (NHAI) in New Delhi.

    The day-long deliberations and insightful panel discussions were held with various stakeholders to suggest, highlight and reconcile measures pertaining to various aspects of road safety that can be implemented in the National Road Safety Policy to save precious lives.

    The seminar focused on eight thematic areas, which will provide action plan for road safety. Panel discussions with stakeholders and industry experts were held on various topics which included Accident Spot Rectification and Proactive Hazard Mitigation, Improving Effectiveness of District Road Safety Committees, School Zone Road Safety, Behavioural Change and Effective Communication, Evidence Driven Enforcement, Implementation of Driver Training, Licensing and Policies, Strengthening Vehicular Safety Standards, Post Crash Response, Highway Rescue and Cashless Treatment.  

    Shri Nitin Gadkari, Hon’ble Minister for Road Transport and Highways; Minister of State for Road Transport and Highways, Shri Ajay Tamta; Senior officials from Ministry, NHAI, Secretary PWD, Secretary Transport, ADG (Traffic) of States, Education Ministry from Government of India, World Bank, WHO, UNICEF, SaveLIFE Foundation, Road Safety Experts, DPR Consultants, Consultants, Contractors, Research institutions and NGOs were present on the occasion. 

    Participating in the discussions Union Minister Shri Nitin Gadkari shared his valuable insights to enable thought provoking and impactful deliberations on different topics. He emphasised the need to intervene at the DPR stage of road building itself, whether it is broad engineering issues or school zones. Imploring the audience to find solutions grounded in data and evidence, he highlighted how small and low-cost interventions can play a significant role in saving lives.

    Shri Ajay Tamta, Hon’ble Minister of State for Road Transport and Highways encouraged all stakeholders to actively participate and make roads safer for every commuter and road user.

    Setting the context of the seminar, Shri V Umashankar, Secretary, MoRTH said, “Road safety is a cause that touches every citizen. This brainstorming session is an important step toward shaping the National Road Safety Policy 2025. Our goal is to have concrete, evidence-based, and implementable recommendations across all aspects of road safety. We have a clear objective to drastically reduce fatalities by 2030. With the collective participation from all stakeholders, we can make India a global model for road safety. This daylong seminar is a platform for collaborative action, and I am sure this will lead to building a safer, smarter road ecosystem across the country.”

    Addressing the audience, Shri Vishal Chauhan, Member (Administration), NHAI emphasised that Road safety needs to be addressed on a larger scale in a very holistic manner. Today’s seminar brings together all key stakeholders on a single platform for a focused, action-driven dialogue.  

    In pursuance of the Government of India’s mission of reducing road accident casualties by 50% by the end of 2030, the day-long brainstorming seminar not only addressed the vital issues in ensuring road safety for all, but also helped in outlining key aspects that will help in shaping the policy for safety of road users across the country.

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    GDH/HR

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  • MIL-OSI Asia-Pac: WAVES 2025 witnesses exchange of ideas on the future of Indian Media & Entertainment Industry

    Source: Government of India

    WAVES 2025 witnesses exchange of ideas on the future of Indian Media & Entertainment Industry

    Indian M&E @100: Reimagining the Future of Media and Entertainment at WAVES 2025

    Posted On: 01 MAY 2025 7:15PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    The inaugural day of WAVES 2025 at the Jio World Convention Centre, Mumbai, featured a compelling panel discussion titled “Indian M&E @100: Reimagining the Future of Media and Entertainment.” The session brought together leading voices from the industry to reflect on its growth and the road ahead as India moves towards 2047. The discussion was moderated by Vanita Kohli Khandekar, Contributing Editor, Business Standard.

    Opening the session, Vanita Kohli Khandekar recalled how the media and entertainment sector, valued at just ₹500 crore around the year 2000, has now grown into a ₹70,000 crore industry. She pointed to two policy decisions that played a critical role in fuelling this growth—the granting of industry status to filmmaking and the initial tax exemptions granted to multiplexes. She also posed an important question on the ability of AI not just to improve content quality, but also to aid in its monetisation. Emphasizing the country’s cultural and linguistic diversity, she underlined that scaling must be inclusive and sensitive to India’s varied audience.

    Vinit Karnik, Managing Director, GroupM, noted that 60% of the advertising revenue in the M&E sector today comes from digital platforms. He observed that the sector has undergone significant disruptions over the last few years, which have fundamentally reshaped how content is consumed and marketed. While acknowledging AI as a strong enabler, he emphasised that content must remain humanised—especially at a time when culture itself is being shaped by mobile technology. He highlighted the need to use technology constructively to enhance storytelling and informed the audience about Mumbai University’s new course on prompt engineering aimed at equipping future professionals.

    Rajan Navani, Founder and CEO of JetSynthesys, focused on the future of content delivery, which he believes will evolve into cross-platform interactive experiences. He stated that India holds just 2–3% of the global M&E market, and to further increase this share by 2047, it is imperative to invest in talent and enhance the country’s investment capacity. He noted that entertainment is becoming increasingly dynamic and will require different technologies for different formats. Addressing Vanita’s concerns on monetization, he pointed out the relatively low disposable income in India compared to developed markets, but expressed optimism that sustained economic growth will boost consumer spending. He cited the example of the Global e-Cricket Premier League, where audiences are already engaging in individualized consumption and payments.

    Vikram Tanna, CEO of Eros Now, called for India to aspire to become a global hub for AI innovation in media. He argued that AI would transform both the creation and delivery of content, enabling new ways for users to become creators. According to him, the digital age will present numerous inflection points, and strategic interventions are required to ensure that India remains competitive. He emphasized that simplifying new technologies—making them as accessible as the internet—will naturally expand the business. He concluded the session by noting that, in this evolving environment, it is crucial for the industry to understand how to engage with machines and harness the vast content landscape for advertising and audience engagement.

    The session offered a forward-looking view of India’s M&E sector, underscoring the interplay of policy, technology, talent, and cultural relevance in shaping its future. WAVES 2025 continues at Jio World Centre till May 4, with sessions highlighting global trends in audio-visual and entertainment industries.

     

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  • MIL-OSI Asia-Pac: Envisioned by Hon’ble PM Shri Narendra Modi, WAVES is an important platform for the Entertainment Industry: Shah Rukh Khan

    Source: Government of India

    Envisioned by Hon’ble PM Shri Narendra Modi, WAVES is an important platform for the Entertainment Industry: Shah Rukh Khan

    Time to Create Affordable Cinema Experience for Tier-2 and Tier-3 Cities: Shah Rukh Khan

    WAVES is a timely initiative converging all media platforms together: Deepika Padukone

    India’s soft power is poised to take the next leap with WAVES in the years to come: Karan Johar

    Posted On: 01 MAY 2025 6:50PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    Actor and filmmaker Shah Rukh Khan has expressed his gratitude on behalf of the film industry to the Prime Minister Shri Narendra Modi for conceptualizing and bringing together the WAVE Summit that has the potential to further strengthen the entertainment industry. He mentioned how relevant this platform is for the industry and that it will provide much-needed synergy and support from the government on various fronts.

    Speaking about the immense possibility India holds as a film-shooting destination, Khan shared how India could be the next destination for international filmmakers to ‘Shoot in India.’ Further, he emphasized on how various forms of agreements with international film bodies and industries could go a long way in shaping and strengthening India’s entertainment industry.

    Khan also stressed upon making the Indian cinema more affordable for the viewers of tier-2 and tier-3 cities. He ideated on bringing single-screen cinema experience to these cities which would help films to reach a larger audience.

    Actor Deepika Padukone also shared the view in terms of importance of WAVES and called it a timely intervention bringing together various mediums of media and entertainment industry. She said the various verticals of the sector were so far working in silos with less convergence while WAVES has a wider scope and has possibilities of weaving together films, OTT, Animation, AI, and other immersive technologies.

    While speaking on the sidelines of the Day-1 of WAVE Summit, actors Shah Rukh Khan and Deepika Padukone had an immersive interaction with filmmaker Karan Johar in a jampacked session named ‘The Journey: From Outsider to Ruler.’ They contemplated on their journey in the film industry and on how they carved out a niche for themselves. Shah Rukh Khan shared his views on the ‘outsider-insider’ tags and called the youth to treat the film industry as any other profession where hard work and perseverance has no substitute.

    Talking of the changing dynamics of the entertainment industry in the time of social media and image management, Khan suggested the newcomers to focus on their skills rather than merely focusing on their image. Padukone added that the time is to distinguish oneself through their unique strengths and abilities.

    In his concluding remarks, filmmaker Karan Johar called India a soft power which is poised to take the next leap with WAVES in the years to come.

     

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  • MIL-OSI Asia-Pac: Directorate General of Training, MSDE announces admissions for Craft Instructor Training Scheme (CITS) Courses for the academic year 2025-26 at NSTIs and IToTs

    Source: Government of India

    Posted On: 01 MAY 2025 5:56PM by PIB Delhi

    The Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, has announced the admission schedule for the Craft Instructor Training Scheme (CITS) enrolment for the academic session 2025-26.

    Aspirants, who possess an NTC (National Trade Certificate), NAC (National Apprenticeship Certificate), Diploma, or Degree qualification, or are appearing for the final year qualifying examinations (NTC/NAC/Diploma/Degree) can apply online at the official website— www.nimionlineadmission.in — between 8th May 2025 and 28th May 2025. Admissions will be based on the All-India Common Entrance Test (AICET), which will be conducted in a Computer-Based Test (CBT) mode across multiple centers nationwide. The examination is scheduled for 15th June 2025.

    The selected candidates will be offered training across 41 trades — comprising 28 engineering trades and 13 non-engineering trades — at National Skill Training Institutes (NSTIs) and Institutes for Training of Trainers (IToTs) across India. Under CITS, 45,025 trainers have been trained in the last five years, between 2019 and 2024.

    The Craft Instructor Training Scheme (CITS) is designed to train instructor trainees comprehensively, covering both technical skills and training methodologies. The program ensures that instructors are well-versed in techniques for effectively transferring hands-on skills, with the aim of producing skilled manpower for the industry. The National Council for Vocational Education & Training (NCVET), as an imperative, deems it suitable that all trainers in Industrial Training Institutes (ITIs) are CITS-certified.

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    Beena Yadav/ Shahbaz Hasibi

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