Category: Politics

MIL-OSI USA: H.R. 331, a bill to amend the Aquifer Recharge Flexibility Act to clarify a provision relating to conveyances for aquifer recharge purposes

Source: US Congressional Budget Office

H.R. 331 would amend the Aquifer Recharge Flexibility Act to allow holders of existing rights-of-way, easements, permits, or other authorizations granted by the Bureau of Land Management (BLM) to use existing rights-of-way for aquifer recharge on behalf of third parties without further authorization. The bill would define those third parties as a state, political subdivision, Indian tribe, or other public entity. The bill also would clarify that using an existing right-of-way for aquifer recharge would not constitute an expansion or modification.

By removing the need for public entities to obtain new rights-of-way in such cases, H.R. 331 could reduce offsetting receipts from the fees charged to issue those permissions; such receipts are recorded as reductions in direct spending. Using information from BLM, CBO expects that those reductions would result in an insignificant increase in direct spending over the 2025-2035 period, because most public entities are exempt from paying such fees.

CBO expects that the cost of implementing the bill’s requirements would be less than $500,000 over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

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

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

April 1, 2025
MIL-OSI USA: H.R. 2240, Improving Law Enforcement Officer Safety and Wellness Through Data Act

Source: US Congressional Budget Office

H.R. 2240 would require the Department of Justice (DOJ) to report to the Congress about violent attacks on law enforcement officers, including the responses of federal, state, and local governments to such attacks and how to improve the reporting of those attacks. The bill also would require DOJ to report to the Congress on how traumatic incidents affect the mental health and wellness of officers.

Based on the costs of similar reports, CBO estimates that implementing H.R. 2240 would cost $3 million over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.

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

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

April 1, 2025
MIL-OSI USA: Celebrating Transgender Day of Visibility
Source: US State of New York

overnor Kathy Hochul announced that New York State landmarks will be lit pink, white and blue this evening in celebration of Transgender Day of Visibility. The Governor also issued a proclamation declaring March 31, 2025 Transgender Day of Visibility, celebrating the trans community in New York State and across the country.

“New York is proud to be the birthplace of the LGBTQ+ rights movement, with trailblazers like Marsha P. Johnson, whose courage and leadership sparked the fight for equality,” Governor Hochul said. “While the Trump administration is attacking the existence of trans people through harmful policies and rhetoric, New York remains a beacon of hope and acceptance. On Transgender Day of Visibility, we honor the strength and resilience of the transgender community.”

Last year, the Governor announced state initiatives to support transgender, gender non-conforming, and nonbinary (TGNCNB) New Yorkers, including declaring November as Transgender Awareness Month. The Governor also announced $1 million in funding through the New York State Department of Labor for workforce development programs to improve employment opportunities and equity for TGNCNB individuals. This funding is part of the Governor’s $12.25 million investment in the Lorena Borjas Transgender and Non-Binary Wellness and Equity Fund.

Landmarks to be lit include:
- One World Trade Center
- Governor Mario M. Cuomo Bridge
- Kosciuszko Bridge
- The H. Carl McCall SUNY Building
- State Education Building
- Alfred E. Smith State Office Building
- Empire State Plaza
- State Fairgrounds – Main Gate & Expo Center
- Niagara Falls
- The “Franklin D. Roosevelt” Mid-Hudson Bridge
- Albany International Airport Gateway
- MTA LIRR – East End Gateway at Penn Station (will illuminate pink)
- Fairport Lift Bridge over the Erie Canal
- Moynihan Train Hall (will illuminate pink)
- Grand Central Terminal
New York State Division of Human Rights Acting Commissioner Denise M. Miranda, Esq. said, “On this Transgender Day of Visibility, we must reaffirm that New York State will never waiver in our commitment of protecting and celebrating the rich contributions of our transgender community. Every New Yorker deserves to live a life of respect and dignity. The New York State Human Rights Law includes strong protections against discrimination for transgender New Yorkers, and DHR remains ready to enforce the law against violators. Today, and every day, let us recommit ourselves to working towards a more inclusive and accepting world.”

State Senator Brad Hoylman-Sigal said, “New York is proud to have such a vibrant transgender community. As one of the only LBGTQ+ members of the State Senate, and the Senator representing the historic Stonewall Inn, I often think about how I would not be the person I am today if not for the courageous trans women who sparked the modern LGBTQ rights movement right here in my district. The incessant attacks on the trans community by the federal government are deeply disturbing, but fortunately New York State has leaders who understand the importance of accepting people for who they are. Tonight, in honor of Transgender Day of Visibility, our landmarks will be lit pink, white, and blue, the colors of the transgender flag, sending a clear message that the trans community is, and always will be, accepted and valued in New York. I’m grateful to live in a state with a Governor who is such a strong ally to the LGBTQ+ Community.”

State Senator Jabari Brisport said, “When people are free to be their authentic selves, we all benefit from the light they shine on the world. Let New York be a place where we never force trans folks to hide their light — especially in these dark times. Let New York be a place where we embrace all our neighbors and protect each other from whatever may come.”

Assemblymember Deborah J. Glick said, “On this Transgender Day of Visibility, we must recognize that the targeted attacks on the transgender community are a reflection of a world view hostile to any diversity. The LGBTQ community is under attack, but we will not be the only ones to suffer. It starts with one group and then moves onto the next target. We must remain united to defend all of us.”

Assemblymember Harry B. Bronson said, “Today, on Transgender Day of Visibility, I am proud to stand with Governor Hochul to honor and recognize New York’s trans community by lighting our State landmarks light pink, white, and baby blue. No matter who you are, where you come from, what you look like, what your abilities, who you love or how you identify – we all deserve dignity, justice and opportunity. Now, more than ever, my LGBTQIA+ siblings and I must speak out for what is right and condemn attacks on the trans community by proudly acknowledging their right to exist – you are here, we see you and we will fight for your right to live as your authentic selves. Our diversity is our strength, and our unity is our power!”

Assemblymember Jessica González-Rojas said, “Today’s lighting ceremony is especially meaningful as we navigate some of our greatest policy challenges against our trans and gender non-conforming neighbors. The Trump administration has launched a full out assault against our TGNC communities, and so many are suffering because of this. Today’s landmark lighting symbolizes our continued commitment to fight for basic human rights and New York’s stance against hate. Today is also important because we know that our healthcare funding is being stripped, putting thousands of lives at risk. Many of our trans siblings face high rates of healthcare disparities, struggle to access insurance, and encounter significant barriers to mental health support. This landmark lighting is an opportunity for our state to show solidarity as we work to advance a budget that will protect all New Yorkers.”

Assemblymember Tony Simone said, “All across the state tonight, New Yorkers will see our landmarks lit up for Transgender Day of Visibility. New York is a state of freedom and liberty, where all are free to thrive in life as their authentic selves. I thank Governor Hochul for once again demonstrating what New York values look like.”

MIL OSI USA News –
April 1, 2025
MIL-OSI Europe: Press release – Remembering Bucha: Real peace must be based on justice

Source: European Parliament

Russia must be held accountable for war crimes committed during its war of aggression in Ukraine, said EP Vice-President Hojsík in Kyiv at the event commemorating victims of Bucha tragedy.

Martin Hojsík represented European Parliament President Roberta Metsola on Monday at the 2025 Bucha Summit, a conference of Speakers and Heads of Delegation of national parliaments of European countries held to commemorate the third anniversary of the liberation of Bucha from Russia .

“Peace without justice is not a real peace. Victims of the Russian massacre in Bucha are a reminder of this. This is why the European Parliament has been calling since the beginning of the Russian aggression for a fair investigation and punishment of war crimes and crimes against humanity,” Parliament’s Vice-President Martin Hojsík stressed.

“Our support for Ukraine remains unwavering. We must keep standing with Ukraine and step up our efforts for a just and lasting peace. The future of Ukraine is in the European Union,” he said.

2025 Bucha summit

The European Parliament was represented at the event together with speakers and heads of delegation of the national parliaments of Belgium, Croatia, Czechia, Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Luxembourg, Norway, Poland, Portugal, Slovenia, Spain, Sweden, Ukraine, and the United Kingdom, convened in Kyiv on Monday 31 March to commemorate the victims of the Bucha massacre.

In their joint statement, the parliament leaders condemned “in the strongest possible terms the Russian Federation’s unprovoked and unjustified war of aggression against Ukraine”, reaffirmed their “full respect for the sovereignty, independence and territorial integrity of Ukraine within its internationally recognised borders”, and called for “the establishment of a special tribunal for the crime of aggression against Ukraine”.

They called for a “significant increase in aid for Ukraine” and “the strongest possible sanctions and measures against Russia that could support steps towards a comprehensive, just and lasting peace”. Finally, they reaffirmed their support for Ukraine’s European integration and sovereign right to determine its future free from external pressure or interference.

Background

In a 12 March resolution the European Parliament reaffirmed its commitment to supporting Ukraine’s desire for a just and lasting peace, and also called on the EU and its member states to significantly increase their assistance to Ukraine.

On Tuesday 1 April morning, MEPs and EU foreign policy chief Kaja Kallas will discuss the need to hold Russia accountable for its war crimes in Ukraine. You can follow the debate live here (1.4.2025).

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: Briefing – 2025 Commission work programme – 31-03-2025

Source: European Parliament

On 11 February 2025, the European Commission adopted the first work programme (2025 CWP) of the von der Leyen II Commission. Building on the reports by Enrico Letta, Mario Draghi and Sauli Niinistö, and in line with the Commission President’s political guidelines, the CWP places a strong emphasis on competitiveness, simplification and implementation, and preparedness. These will remain key horizontal priorities for the entire Commission mandate. In terms of structure, the CWP follows the seven headline ambitions put forward in the political guidelines and is accompanied by a communication on implementation and simplification. The work programme should be read in conjunction with two other recent Commission communications: the ‘Competitiveness Compass’ – itself a flagship initiative under the 2025 CWP, setting out a strategic long-term plan for rebooting Europe’s competitiveness – and the communication on ‘The road to the next multiannual financial framework’ (MFF), which reflects on how to align the MFF with evolving needs and priorities. Annex I of the 2025 CWP puts forward 52 major new policy initiatives, over 40 % of which fall under the competitiveness headline ambition. Only 18 new initiatives are of a legislative nature, with a further one listed as ‘legislative or non-legislative’. Fourteen of the legislative initiatives aim to revise existing legislation; 11 of these have a strong simplification dimension, and only nine are set to be supported by an impact assessment. The relatively low number of legislative files is not uncommon at the beginning of a new mandate, where (non-legislative) strategies, compasses, roadmaps and action plans lay out the new priorities. Several of them, such as the Competitiveness Compass and the Clean Industrial Deal, imply intense legislative activity in the years ahead. The annual plan of evaluations and fitness checks included in Annex II is a novelty – and a step towards increased transparency.

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: MOTION FOR A RESOLUTION on targeted attacks against Christians in the Democratic Republic of the Congo – defending religious freedom and security – B10-0212/2025

Source: European Parliament

B10‑0212/2025

European Parliament resolution on targeted attacks against Christians in the Democratic Republic of the Congo – defending religious freedom and security

(2025/2612(RSP))

The European Parliament,

– having regard to the Universal Declaration of Human Rights of 1948 and the International Covenant on Civil and Political Rights of 1966,

– having regard to the Charter of Fundamental Rights of the European Union, in particular Article 10 thereof on freedom of thought, conscience and religion,

– having regard to its previous resolutions on the situation in the Democratic Republic of Congo (DRC),

– having regard to the statements by the European External Action Service on the security and human rights situation in the DRC,

– having regard to the African Charter on Human and Peoples’ Rights,

– having regard to Rule 136(2) of its Rules of Procedure,

A. whereas the DRC is experiencing an escalation of violence, particularly in the eastern regions, where armed groups such as the Allied Democratic Forces (ADF) have targeted Christian communities;

B. whereas between 12 and 15 February 2025, more than 70 Christians were found dead in a Protestant church near Kazanga, North Kivu province in the DRC; whereas the victims had been beheaded by the Islamist ADF, an affiliate militia of Islamic State Central Africa Wilayat (ISCAP);

C. whereas according to BBC Monitoring analysis, ISCAP is now the deadliest armed group in the DRC; whereas from 1 January to 30 June 2024, Islamic State claimed responsibility for killing a total of 698 African Christians; whereas ISCAP claimed responsibility for killing 639 Christians;

D. whereas the National Episcopal Conference of Congo (CENCO) has amplified Pope Francis’s appeals for an end to the violence and has initiated discussions between the government and rebel groups, with consultations ongoing; whereas CENCO and the Church of Christ in Congo have launched an appeal for 2025 to be a ‘Year of Peace and Good Coexistence’ to address the ongoing violence;

E. whereas churches and Christian institutions have increasingly become targets of violence and persecution by terrorist groups, including the ADF, which has pledged allegiance to Islamic State; whereas the ADF, originally an armed Ugandan rebel movement, has evolved into a jihadist terrorist group operating in the eastern DRC, conducting mass killings, attacking civilian populations and disrupting agricultural and economic activities; whereas despite military operations by Congolese and Ugandan forces, the ADF continues to perpetrate violence and instability in the region;

F. whereas ISIS-DRC continues to pose a severe threat in the region, carrying out deadly attacks against civilians, including the January 2025 massacre in Makoko, North Kivu, and the December 2024 attack in Batangi-Mbau; whereas recent operations by Interpol and Afripol have led to the arrest of 37 suspected terrorists across East Africa, yet ISIS-DRC remains active, exploiting instability and weak governance to sustain its violent campaign;

G. whereas the appointment of a new EU Special Envoy for religious freedom by the Commission on 7 December 2022 followed a three-year standstill, during which the former Special Envoy who had been appointed in 2021 returned his mandate after a few months to assume another position in a national government;

H. whereas in 2016 the Hungarian Government set up a special department for persecuted Christians around the world; whereas the State Secretariat for the Aid of Persecuted Christians supports, through its ‘Hungary Helps’ programme, faith-based initiatives in more than 50 countries, with hundreds of humanitarian and development projects; whereas in 2019 the Italian Government established a fund for persecuted Christian communities; whereas in May 2022 the Italian Government led by Mario Draghi appointed a special envoy for the protection of religious freedom and interreligious dialogue; whereas in 2023 the Italian Government led by Giorgia Meloni appointed a special envoy attached to the foreign ministry to protect Christian communities around the world;

I. whereas over the past decade, the EU has provided significant financial assistance to the DRC, including over EUR 272 million in humanitarian aid between 2023 and 2025 to address urgent needs such as shelter, clean water, food and education for vulnerable populations; whereas the EU allocated EUR 584 million through the European Development Fund for the period 2008-2013 to support stability and development projects; whereas the EU has also been involved in security and peacekeeping efforts, deploying missions such as the EU Security Mission in the Democratic Republic of the Congo (EUSEC) and the EU Police Mission for the DRC (EUPOL RD Congo) to assist in rebuilding the Congolese security forces;

L. whereas the DRC has consistently ranked among the most corrupt countries in the world, scoring 20 out of 100 in the 2023 Corruption Perceptions Index by Transparency International and ranking 162nd out of 180 countries; whereas a conservative estimate of 30 % of the approximately EUR 1.2 billion in aid funded with EU taxpayers’ money, provided between 2008 and 2024, suggests that at least EUR 360 million may have been misappropriated by corrupt officials, seriously undermining efforts to enhance governance, stability, safety and living conditions in the DRC;

M. whereas the EU and Rwanda signed a memorandum of understanding on sustainable raw materials value chains in February 2024, granting the EU access to sources of raw materials and rare earth elements in Rwanda; whereas several UN reports state that Rwanda supports the M23 group as a means of extracting and exporting minerals from the DRC; whereas the US Embassy in the DRC confirmed that Congolese minerals are being transported, with the support of armed groups, to Rwanda, where they are subsequently sold to international buyers;

N. whereas this conflict has been overshadowed by global attention focused on crises in the Middle East and Ukraine, despite over 10 million lives lost in years of violence and an estimated 3 000 people killed in just a few days;

1. Strongly condemns the murder of Christians in the DRC, and all acts of violence targeting them, and expresses its solidarity with the victims;

2. Notes that the DRC ranks 35th on the Open Doors’ World Watch List 2025 of countries where Christians are persecuted because of their faith; emphasises that Christians face severe persecution and violence especially from Islamist groups; emphasises that the ADF abduct and kill Christians and attack churches, leading to terror, insecurity and population displacement; emphasises that the M23 group also targets Christian civilians; is concerned about the involvement of the M23 group in the widespread violence in the DRC; takes note of the EU sanctions against people holding leading positions in the Rwanda Defence Force and M23; demands that the Rwandan Government withdraw its troops from the DRC and cease its cooperation with M23; notes that the DRC ranks fourth on Global Christian Relief’s Red List of countries where Christians have been forced to flee their homes due to violence;

3. Is worried about the growing threat posed by ISCAP in Central Africa; notes that the increasing number of violent attacks demonstrates both ISCAP’s willingness and operational capability to intensify its campaign of terror and violent attacks against Christians; is worried that the expansion of Islamic State in Central Africa poses a danger to the security of the whole continent;

4. Is of the opinion that by stalling the process of mandating an EU Special Envoy for religious freedom for almost three years, the Commission signalled to the outside world that the issue of the persecution of Christians worldwide is not one of the EU’s priorities; notes that this reflects its policy in the EU, only appointing a coordinator for combating Muslim hatred, and neglecting the rising violence against Christians in the EU; finds this lack of commitment highly regrettable and problematic in the light of the rising violence against Christians worldwide; is of the opinion that the significant delay in appointing the EU Special Envoy for religious freedom undermines the credibility of the EU’s commitment to protecting religious freedom and belief beyond its borders;

5. Welcomes the ‘Hungary Helps’ programme, which helps Christian communities rebuild after persecution and manages projects, reconstructing institutions and improving education and healthcare after violent persecution by Islamic terrorist groups; emphasises that the Hungarian initiative, enabling people to build their future in their own country, is also an important migration prevention policy; welcomes the fact that the ‘Hungary Helps’ programme and the Reformed Church of Hungary will give donations to help the victims of the Islamist terrorist attacks on Christians in the DRC; welcomes the cooperation between the Hungarian and Italian Governments to undertake joint initiatives in Africa, with a focus on supporting persecuted Christians; hopes that Hungarian and Italian policy will inspire other Member States to follow suit;

6. Calls for the EU and the EU Special Envoy for religious freedom to take all the necessary diplomatic and political initiatives to protect Christians in the DRC;

7. Calls on the DRC and its authorities to conduct a thorough investigation of the murders and to ensure that the criminals responsible are brought to justice;

8. Calls on the DRC and its authorities to take immediate and effective action to protect Christian communities and all religious minorities from further violence and persecution;

9. Calls on the DRC and its authorities to provide financial and logistical support for local and international humanitarian organisations assisting the victims of religious persecution in the DRC;

10. Welcomes the efforts of religious leaders to foster peace and dialogue and urges all parties involved to seek constructive solutions rather than resorting to violence;

11. Encourages regional and international African bodies such as the African Union and the East African Community to take the lead in addressing the conflict, as they are the best suited for this task; encourages these African bodies to enhance counter-terrorism cooperation, intelligence-sharing and military coordination against extremist groups operating in the region;

12. Calls strongly for the EU to work with regional and international actors to protect civilians and Christian communities and bring the perpetrators of these criminal acts to justice;

13. Emphasises the need to address these crimes at the African Union level;

14. Calls on the Commission to suspend the implementation of the memorandum of understanding on sustainable raw materials value chains signed with Rwanda in February 2024, in the light of credible reports linking Rwanda to the illicit exploitation and export of minerals from the eastern DRC, including through its support for the M23 armed group; stresses that the continuation of this agreement risks fuelling the ongoing conflict, undermining regional stability and leading to the further killing of Christians in the region;

15. Instructs its President to forward this resolution to the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the EU Special Envoy for religious freedom, the governments and parliaments of the Member States, the Secretary-General of the United Nations (UN), the UN Special Rapporteur on Freedom of Religion or Belief, the Special Rapporteur on Torture, Degrading and Inhuman Treatment, the African Union Commissioner for Political Affairs, Peace and Security, the Government and Parliament of the Democratic Republic of Congo, the African Union and the East African Community.

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: MOTION FOR A RESOLUTION on the targeted attacks against Christians in the Democratic Republic of the Congo: defending religious freedom and security – B10-0214/2025

Source: European Parliament

B10‑0214/2025

European Parliament resolution on the targeted attacks against Christians in the Democratic Republic of the Congo: defending religious freedom and security

(2025/2612(RSP))

The European Parliament,

– having regard to its previous resolutions on the Democratic Republic of the Congo (DRC),

– having regard to the UN Report of the Mapping Exercise documenting the most serious violations of human rights and international humanitarian law committed within the territory of the Democratic Republic of the Congo between March 1993 and June 2003, of August 2010,

– having regard to UN Security Council Resolution 2773 (2025) of 21 February 2025 on the situation concerning the Democratic Republic of the Congo,

– having regard to the Partnership Agreement between the European Union and its Member States, of the one part, and the Members of the Organisation of African, Caribbean and Pacific States, of the other part [1] (the Samoa Agreement),

– having regard to the African Charter on Human and Peoples’ Rights, which was adopted on 27 June 1981 and entered into force on 21 October 1986,

– having regard to the Constitution of the Democratic Republic of the Congo, adopted on 18 February 2006,

– having regard to the Universal Declaration of Human Rights,

– having regard to the Charter of the United Nations,

– having regard to Rule 136(2) of its Rules of Procedure,

A. whereas there has been a deterioration in the security situation in the eastern DRC over the past year, with different armed groups, and at times government soldiers, committing widespread violence, unlawful killings and other grave abuses, putting civilians at great risk;

B. whereas the UN Group of Experts, established pursuant to UN Security Council Resolution 1533 (2004), estimates that between 3 000 and 4 000 Rwandan army troops are on the ground in the DRC, and considers that the deployment of the Rwanda Defence Force violates the sovereignty and territorial integrity of the DRC, and that Rwanda’s de facto control and direction over M23 operations also renders Rwanda liable for the actions of M23;

C. whereas the World Religion Database estimates that 95.1 % of the population in the DRC is Christian, 1.5 % is Muslim and 2.5 % has no religious affiliation; whereas the Constitution of the DRC provides for freedom of religion and prohibits discrimination based on religious belief;

D. whereas a group referred to as the Allied Democratic Forces (ADF), with links to the Islamic State, has reportedly carried out continued indiscriminate attacks against civilians in North Kivu and Ituri Provinces, on occasion targeting churches and religious leaders; whereas such violence targets all communities, but most victims have been Christian, belonging to the religious majority; whereas the deaths of at least 849 men, women and children were attributed to the ADF in North Kivu and Ituri Provinces in 2020, according to the UN Joint Human Rights Office in the DRC; whereas the ADF allegedly also carried out an attack on a church baptism in Kasindi, North Kivu Province in February 2023, killing 16 and injuring at least 62, as well as different attacks on villages in North Kivu in March 2023, killing more than 83 civilians, including children;

E. whereas, since 2015, the ADF has released increasing amounts of propaganda that reflect the group’s ‘ideological alignment with the Islamic State’, including, among other objectives, ‘an increased focus on efforts to kill non-Muslim civilians’, according to the Center for Strategic and International Studies; whereas both local Christian and Muslim leaders, with vocal support from the government, have again condemned the ADF’s attacks on civilians;

F. whereas the UN and the DRC had agreed on the withdrawal of the UN Organization Stabilization Mission in the DRC (MONUSCO) in mid-2024, leading to a degradation of the security situation and affecting civilians, who were left exposed to human rights abuses by state security forces and armed actors;

G. whereas the DRC has one of the highest rates of internal displacement in the world; whereas many women and children live in precarious conditions and are being exposed to the risk of harassment, assault or sexual exploitation; whereas displaced populations often receive no basic life-saving services and are at risk of malnutrition and disease; whereas cities that host internally displaced people in precarious circumstances are also targets of attack by different militias, causing great distress to the displaced communities and to the local population;

H. whereas state authorities and rebel groups have obligations to civilians under international humanitarian law, including protecting and facilitating access to humanitarian assistance, and permitting freedom of movement;

I. whereas the International Criminal Court (ICC) investigations in the DRC have focused on alleged war crimes and crimes against humanity committed mainly in the eastern DRC, in the Ituri region and the North and South Kivu Provinces, since 1 July 2002; whereas the DRC made a second referral in May 2023 concerning alleged crimes committed in North Kivu since 1 January 2022;

1. Is concerned by the humanitarian and security situation in the DRC and the findings in the recent reports of the UN Group of Experts established pursuant to Security Council Resolution 1533 (2004), and fully supports the reports’ recommendations;

2. Welcomes the Council’s decision on 17 March 2025 [2] to impose restrictive measures on nine individuals and one entity responsible for acts that constitute serious human rights violations and abuses in the DRC and for sustaining the armed conflict, instability and insecurity in the DRC and exploiting the armed conflict through the illicit exploitation or trade of natural resources;

3. Commends the announcement of the ICC Prosecutor that the ICC will continue to investigate alleged crimes committed by any person, irrespective of affiliation or nationality; is highly concerned about the fragile situation of the ICC, noting that this fragility is already undermining the ICC’s crucial work to bring justice to victims of the most serious crimes worldwide; reiterates the EU’s unwavering support for the ICC and calls on the European Council and the Commission to fulfil their obligations to ensure the functioning and effectiveness of the ICC;

4. Calls on the Commission to continue supporting anti-corruption efforts and strengthening governance in the DRC; stresses the primary responsibility of the Government of the DRC to ensure security in its territory and protect its civilians, while respecting the rule of law, international human rights law and international humanitarian law;

5. Welcomes the special session of the UN Human Rights Council of 7 February 2025 on the human rights situation in the east of the DRC; supports the establishment of an independent commission of inquiry into serious violations committed since January 2022;

6. Reiterates its condemnation of hate speech, xenophobia, ethnic-based politics, and attacks on religious freedom; underlines that all those responsible for sustaining armed conflict, instability and insecurity in the DRC must be held accountable;

7. Recalls that human rights violations are being used as a weapon of war and that the vast majority of attacks against civilians in the DRC are not motivated by religion but are most often committed on ethnic, political, terrorist or financial grounds;

8. Calls upon the relevant parties to provide a safe environment for civil society organisations and human rights defenders to enable them to carry out their work freely;

9. Calls on the Government of the DRC to implement the recommendations of the 2010 Mapping Report, particularly regarding security sector reforms, the strengthening of institutions and the rule of law, the fight against corruption, and regional cooperation efforts for the arrest and prosecution of perpetrators of serious crimes;

10. Urges neighbouring states of the DRC to withdraw their troops, to cease all military activities on the soil of the DRC, unless expressly invited to conduct such activities by the Government of the DRC, and to stop their support to armed groups; emphasises that incursions by certain actors in the region, such as the Rwandan forces and M23, further destabilise the DRC by forcing the its army to engage on multiple fronts, making it more difficult to combat armed and terrorist groups;

11. Calls for a quick resumption of negotiations within the Luanda Process to find a lasting, peaceful and political solution, and urges all sides to fully honour their engagements within the Luanda Process, specifically the ceasefire agreed on 30 July 2024, the neutralisation of the Democratic Forces for the Liberation of Rwanda and M23 rebel groups, and the withdrawal of Rwandan forces from the territory of the DRC; calls for the EU to have an active role in the diplomatic efforts to de-escalate the conflict, advocating for an immediate ceasefire and a renewed commitment to dialogue, with the protection of civilians at the core of negotiations, in particular women and children;

12. Deplores the fact that fighting and the shelling of medical infrastructure in and around Goma has severely limited the delivery of humanitarian aid to those in need;

13. Calls on all countries neighbouring the DRC, in particular Rwanda, to facilitate access of humanitarian equipment and personnel to all areas occupied by the rebels groups in the eastern DRC, including through the reopening of Goma airport and of borders;

14. Calls on the Commission to suspend the EU-Rwanda Memorandum of Understanding on sustainable raw materials value chains, put a halt to any plans to support any mining projects in Rwanda, put in place a trade embargo on all minerals imported from Rwanda into the EU and an export ban on weapons from the EU to Rwanda, and suspend any further military and security assistance to Rwanda until the territorial integrity of the DRC is restored; calls on the Commission to proactively engage with Rwanda’s main partners to ensure coordinated action;

15. Calls for the Government of the DRC and its international partners, including the EU, to establish new monitoring mechanisms for the implementation of the Peace, Security and Cooperation Framework for the DRC and the region, signed in Addis Ababa;

16. Deplores the fact that Rwanda announced the termination of its diplomatic relations with Belgium, and expresses its solidarity with Belgium;

17. Instructs its President to forward this resolution to the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the Government and Parliament of the Democratic Republic of the Congo, the African Union, the secretariats of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo, the Southern African Development Community and the East African Community, and other relevant international bodies.

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: Written question – Public statements by the Greek Minister of Migration and Asylum using discriminatory language – E-001268/2025
Source: European Parliament
Question for written answer E-001268/2025
to the Commission
Rule 144
Konstantinos Arvanitis (The Left)

Very recently, the Greek Minister of Migration and Asylum referred to foreigners residing irregularly as ‘illegal immigrants’ in a television news programme.

Pursuant to the EU acquis, the prohibition of discrimination is expressly established in the Charter of Fundamental Rights of the EU[1], the TFEU[2], and Directive 2000/43/EC implementing the principle of equal treatment between persons irrespective of racial or ethnic origin. It is recalled that in her order 8191/26.7.20218 to the country’s Public Prosecutors’ Offices, the then Supreme Court Public Prosecutor considered that this term, ‘in addition to being ill-conceived, can also be derogatory to the character of the individual’ and called on the recipients to ensure that in local communities that ‘the use of derogatory descriptions and words for people’s character is stopped’, arguing that ‘in this way, we will all contribute to the elimination of the phenomena of xenophobia and racism’.

Furthermore, both the CJEU and the ECtHR have for years ceased to use such expressions in their case-law, unequivocally opting to reject terms that introduce unfavourable discrimination from European legal culture.

In view of the above:

1.In the Commission’s opinion, is the above-mentioned statement by a senior government official in line with the letter and spirit of the Charter of Fundamental Rights of the EU?

2.Does the Commission intend to delete corresponding references from EU legislation which is still in force?

Submitted: 26.3.2025

[1] Article 21: ‘1. Any discrimination based on any ground such as sex, race, colour, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age or sexual orientation shall be prohibited. 2. Within the scope of application of the Treaties and without prejudice to any specific provisions of those Treaties, any discrimination on grounds of nationality shall be prohibited.’

[2] Article 10: ‘In defining and implementing its policies and actions, the Union shall aim to combat discrimination based on sex, racial or ethnic origin, religion or belief, disability, age or sexual orientation.’
Last updated: 31 March 2025
MIL OSI Europe News –
April 1, 2025
MIL-OSI Europe: In-Depth Analysis – EU capabilities in space: Scenarios for space security by 2050 – 31-03-2025

Source: European Parliament

Space holds promise for both economic prosperity and the attainment of strategic goals. The EU’s future role in space is contingent on fast-changing geopolitical dynamics, which can range from peaceful cooperation to heightened competition or conflict among global powers. Given the importance of this subject, the European Commission has announced plans to propose an EU space act in the second quarter of 2025. This paper aims to describe the geopolitical context of space activities that affect the EU’s current and future capabilities, with a specific focus on the use of space for security and defence and the response to space-related risks. Four distinct future scenarios present contextual conditions that may shape the EU’s ambitions in space. The scenarios also highlight challenges and opportunities, while considering policy considerations for EU action.

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: MOTION FOR A RESOLUTION on the targeted attacks against Christians in the Democratic Republic of the Congo: defending religious freedom and security – B10-0216/2025

Source: European Parliament

Adam Bielan, Mariusz Kamiński, Sebastian Tynkkynen, Cristian Terheş, Maciej Wąsik, Aurelijus Veryga, Jadwiga Wiśniewska, Małgorzata Gosiewska, Waldemar Tomaszewski, Joachim Stanisław Brudziński
on behalf of the ECR Group

B10‑0216/2025

European Parliament resolution on the targeted attacks against Christians in the Democratic Republic of the Congo: defending religious freedom and security

(2025/2612(RSP))

The European Parliament,

– having regard to the Universal Declaration of Human Rights, which affirms the right to freedom of thought, conscience and religion, as well as the right to manifest one’s religion or belief in teaching, practice, worship and observance,

– having regard to the International Covenant on Civil and Political Rights, which recognises the right of individuals to freedom of religion, including freedom to worship and observe religious practices,

– having regard to the Constitution of the Democratic Republic of the Congo (DRC), which guarantees the right to freedom of conscience and the free exercise of religious worship for all citizens,

– having regard to the UN Declaration on the Elimination of All Forms of Intolerance and of Discrimination Based on Religion or Belief, adopted by the UN General Assembly on 25 November 1981,

– having regard to the European Convention on Human Rights, particularly Article 9 thereof, which guarantees the right to freedom of thought, conscience and religion,

– having regard to reports from the UN and various other human rights organisations, detailing the rise in attacks and indiscriminate killings and ongoing violations of the freedom of belief by armed groups, including Islamist militants, against Christian communities in the eastern DRC region,

– having regard to Rule 136(2) of its Rules of Procedure,

A. whereas the DRC has endured decades of widespread violence and instability in its eastern provinces, exacerbated by armed conflicts that have created fertile ground for the emergence of over 100 extremist groups targeting vulnerable populations, including religious communities;

B. whereas Christians in the DRC’s eastern provinces are facing an increasing number of targeted attacks, killings and abductions as well as the destruction of their property, perpetrated by armed groups with extremist ideologies;

C. whereas, according to local reports, on 13 February 2025, 70 Christians were abducted in the village of Mayba and later found dead in a church in nearby Kasanga; whereas the attack was reportedly committed by militants of the Allied Democratic Forces (ADF);

D. whereas the ADF is one of the most prominent extremist groups with explicitly religious objectives, especially since its leader pledged allegiance to the Islamic State of Iraq and Syria (ISIS) in 2019;

E. whereas in May 2020, the ADF participated in ISIS’s global ‘Battle of Attrition’, specifically targeting Christian communities in seven neighbourhoods throughout north-eastern DRC; whereas in 2021, a prominent local Muslim leader received death threats from the ADF, and he was later gunned down; whereas in 2023, the ADF bombed services at a Pentecostal church in Kasindi, killing 14 people; whereas in January 2024, the ADF killed eight people in Beni during an attack on a Pentecostal church and, in May 2024, ADF assailants reportedly killed 14 Catholics in North Kivu province for refusing to convert to Islam; whereas the ADF also reportedly executed 11 Christians in the village of Ndimo in Ituri province and kidnapped several others;

F. whereas in addition to the ADF, several armed groups in the eastern DRC have politicised religion, targeting religious infrastructure as part of their insurgency strategies;

G. whereas in 2024, 355 people were reportedly killed in the DRC for their faith, compared to 261 in 2023, while an estimated 10 000 people were internally displaced because of their faith, marking a tenfold increase from 2023; whereas houses have been looted and burned down, schools relocated, churches and healthcare facilities closed, and several Christian villages have been abandoned altogether;

H. whereas the attacks on Christians are part of a broader trend of escalating violence and religious intolerance, with religious leaders and communities increasingly finding themselves under threat in areas controlled by armed groups;

I. whereas the recent activities of the March 23 Movement (M23) rebel group have further exacerbated the vulnerability of religious communities in the region;

J. whereas converts to Christianity from Islam and indigenous religions face pressure from their families to revert to their former faiths;

K. whereas local and international human rights organisations have documented numerous instances of religious violence in the DRC, highlighting the failure of the state to provide adequate protection; whereas, while the DRC Government has demonstrated a strong intention to address the impacts of armed group violence in the eastern DRC, other recent developments call into question the government’s commitment to safeguarding religious freedom specifically;

L. whereas the EU has repeatedly affirmed its commitment to the promotion and protection of religious freedom globally, and has taken steps to combat religious persecution and intolerance in various parts of the world; whereas Christians are the most persecuted religious group in the world;

M. whereas Parliament has consistently called for the strengthening of international efforts to combat religious persecution and to hold accountable those responsible for attacks on religious communities;

1. Strongly condemns the targeted attacks against Christian communities in the DRC, including killings, abductions and the destruction of religious property, and calls for an immediate halt to such acts of violence;

2. Is deeply concerned about the situation of Christians and Christian converts from Islam and indigenous religions in the region, who are facing a severe and escalating crisis owing to a combination of militant threats, familial pressure and political interference;

3. Expresses its deep concern about the violence committed by the ADF and other extremist groups in the eastern DRC and underlines that the chaos created by the M23 rebel group has further exacerbated the vulnerability of religious communities;

4. Calls for the immediate cessation of all forms of violence and for the commitment of all parties involved in the ongoing conflict in the eastern DRC to respect international humanitarian law;

5. Calls on the DRC Government to counter extremist propaganda and provide armed security at churches and other religious buildings;

6. Calls for the establishment of early warning mechanisms to more effectively prevent and respond to attacks by the ADF and other armed groups against civilians;

7. Stresses the critical importance of supporting the DRC Government in strengthening the rule of law, improving security and ensuring the protection of religious communities at risk, while ensuring that perpetrators of attacks against religious communities are brought to justice;

8. Echoes the calls for international solidarity in defending religious freedom and the protection of religious minorities in conflict zones, particularly in the DRC, while addressing the root causes of violent extremism in the DRC and its neighbourhood;

9. Encourages the establishment of safe zones in the eastern DRC, where religious communities and other civilians who have been targeted can have access to legal services and psychological support;

10. Stresses the need for a comprehensive approach that combines humanitarian aid, peacebuilding initiatives and support for the rule of law so as to ensure lasting protection for all religious communities in the DRC, including Christians; underlines the role of religious communities in the DRC in promoting peace, social cohesion and the well-being of local communities;

11. Urges the EU to uphold its commitment to the promotion of religious freedom and the protection of religious communities, ensuring that the rights of these groups are prioritised in the EU’s external policies;

12. Calls for enhanced cooperation between the EU and the African Union, as well as regional actors, to promote stability and prevent extremist groups from using religion as a tool for violence and division;

13. Notes, with concern, the growing influence of the Russian Orthodox Church in Africa, which is a staunch supporter of the Putin regime and its violent, unlawful war in Ukraine; underlines that, on 29 December 2021, the Russian Orthodox Church officially announced the formation of the Patriarchate Exarchate of Africa, which consists of two dioceses: the South African Diocese, encompassing 24 countries, and the North African Diocese, covering 31 countries;

14. Underlines that this move significantly expands the influence of the Russian Orthodox Church across the African continent, encroaching on the jurisdiction of the Greek Orthodox Patriarchate of Alexandria, which holds the official canonical responsibility for the entire African continent; underlines that this development raises significant questions regarding the broader geopolitical and ideological objectives of the Russian Federation in Africa;

15. Instructs its President to forward this resolution to the Council, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the European External Action Service, the African Union, the Joint Council of Ministers and Joint Parliamentary Assembly of the Organisation of African, Caribbean and Pacific States and the EU, the Secretary-General of the United Nations and the Government and Parliament of the DRC.

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: Answer to a written question – Meta’s recent decision to end fact-checking on Facebook, Instagram and WhatsApp in the United States – E-000423/2025(ASW)
Source: European Parliament

The Digital Services Act (DSA)[1] sets out rules for providers of intermediary services to tackle illegal content, while safeguarding freedom of expression.

The DSA imposes enhanced ‘due diligence’ obligations on providers of very large online platforms, including conducting risk assessments and to put in place mitigation measures tailored to the risks identified including risks related to recommender systems.

On 7 January 2025, Meta publicly announced the introduction of a system in the United States based on ‘Community Notes’ as a replacement to the third-party fact-checking Meta had previously used. Based on information available to the Commission, this policy does not currently apply in the EU.

In addition, Meta has informed the Commission of changes to its content policy and political content control on Facebook and Instagram.

These changes apply globally, including in the EU. The Commission has received Meta’s ad hoc risk assessment reports in relation to these changes and is reviewing them.

In 2024, the Commission initiated formal proceedings against Meta, including in relation to the suspicion that Meta demotes political content in the recommender systems of Facebook and Instagram.[2] The Commission is monitoring the functioning of Meta’s services to ensure compliance with the DSA.

Finally, the Code of Conduct on Disinformation is a robust set of commitments to fight disinformation while respecting the freedom of expression.[3]

Following the request of the signatories of the Code the Commission and the European Board for Digital Services, in February 2025, endorsed the Code as a code of conduct within the meaning of Article 45 DSA.

Adherence to the Code may therefore constitute a mitigation measure within the meaning of Article 35 DSA.
- [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32022R2065
- [2] https://ec.europa.eu/commission/presscorner/detail/en/ip_24_2373
- [3] https://digital-strategy.ec.europa.eu/en/library/code-conduct-disinformation
MIL OSI Europe News –
April 1, 2025
MIL-OSI Europe: Answer to a written question – Commission proposal to postpone the implementation of Regulation (EU) 2023/1115 for one year – E-002249/2024(ASW)
Source: European Parliament
1. The regulation on Deforestation-free Products (EUDR)[1] was subject to an open public consultation which gathered more than 1.2 million responses, many from partner countries. Since EUDR’s entry into force, the Commission has collaborated with partners and rolled out significant support, for instance via the Team Europe Initiative on Deforestation Free Supply Chains. The Commission published guidance documents on 2 October 2024[2] after the conclusion of internal discussions, which integrated the answers to questions received until the last moment throughout the consultation process.

2. The Commission, both at the level of cabinets and services, are in permanent contact with Members of the European Parliament and with Member States. Strengthening the partnership between the Commission and the European Parliament is an important principle that was explicitly repeated in the Political Guidelines[3]. In its contacts with Members of the European Parliament, the Commission is committed to a balanced and fair approach, regardless of political parties.

3. The targeted amendment[4] is a response to support stakeholders, Member States and third countries in their preparations for EUDR implementation. It was never a condition for finalising trade agreements with Indonesia and Mercosur. In both agreements, the EU is working to include provisions in support of the fight against deforestation. While negotiations with Indonesia are not yet finalised, the impact on deforestation of the recently finalised Mercosur agreement is expected to be positive in terms of reduction of deforestation, due to the clear commitments undertaken by the parties and bearing in mind that EUDR prohibits the placing on the EU market of commodities from deforested areas.

[1] Regulation (EU) 2023/1115 of the European Parliament and of the Council of 31 May 2023 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation and repealing Regulation (EU) No 995/2010, OJ L 150, 9.6.2023, p. 206-247.

[2] https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5009

[3] Adopted in July 2024: https://commission.europa.eu/about/commission-2024-2029_en

[4] Proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2023/1115 as regards provisions relation to the date of application, COM(2024) 452 final/2.
Last updated: 31 March 2025
MIL OSI Europe News –
April 1, 2025
MIL-OSI Europe: Answer to a written question – Selection methodology for strategic projects under the Critical Raw Materials Act and date of announcement of strategic project status – P-000412/2025(ASW)
Source: European Parliament
According to the Critical Raw Materials (CRM) Act[1], projects will be considered strategic when they meet the criteria listed in Article 6, without prioritisation system or ranking.

The Commission assesses all complete applications with the help of external experts in technical, financial, and environmental, social and governance-related aspects as well as experts in the United Nations Framework Classification for Resources.

The outcome of this assessment is summarised in a consensus report, endorsed by all experts who contributed to it. As requested by the CRM Act, the Commission shares its assessment with the CRM Board, which shall issue an opinion on whether the proposed projects fulfil the assessment criteria.

Member States whose territory is concerned by a proposed project have the right to object against the recognition of that project as a strategic project.

Moreover, for strategic projects in third countries or overseas countries or territories, the Commission will not approve the application before receiving the explicit approval of the third country concerned.

The Commission adopted a first list of strategic projects on 25 March 2025. A second list of non-EU project will be adopted at a later stage.

[1] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52023PC0160
Last updated: 31 March 2025
MIL OSI Europe News –
April 1, 2025
MIL-OSI Europe: Answer to a written question – Exploiting Mr Öcalan’s position in order to make headway on the Kurdish issue – E-000153/2025(ASW)

Source: European Parliament

The EU considers that resuming a credible peace process aiming for a sustained political solution to the Kurdish issue would be a positive step, also essential for the stability in the region.

The Commission is following the situation of Abdullah Öcalan and has taken note of the concerns expressed by the Council of Europe’s Committee for the Prevention of Torture that the prisoner’s contact with the outside world had been limited. He was prevented from seeing his lawyers and his relatives for 43 months until October 2024.

Afterwards, delegations from Türkiye’s Halkların Eşitlik ve Demokrasi Partisi (Peoples’ Equality and Democracy Party, DEM) visited Öcalan several times.

The Commission also notes that the Partiya Karkerên Kurdistanê (Kurdistan Workers’ Party, PKK) remains on the EU list of persons, groups and entities involved in acts of terrorism.

As Türkiye is an EU candidate country and as a member state of the Council of Europe, the Commission expects Ankara to treat inmates according to the principles laid down in the European Convention of Human Rights and the relevant United Nations documents.

Last updated: 31 March 2025

MIL OSI Europe News –

April 1, 2025
MIL-OSI Europe: Answer to a written question – Legitimacy of the European Democracy Shield – E-000447/2025(ASW)
Source: European Parliament
The Commission is preparing the European Democracy Shield, announced in the Political Guidelines 2024-2029[1]. The Shield will better protect and promote democracy in the European Union (EU) with several initiatives.

As provided under Article 17 of the Treaty on European Union (TEU) the Commission is appointed by the European Council with the consent of the European Parliament and has the competence to propose initiatives to promote the general interest of the Union.

Democracy is among the founding values of the EU, as provided by Article 2 TEU, which all Member States committed to respect and promote when joining the EU (Article 49 TEU).

The Democracy Shield will address foreign information manipulation and interference and disinformation, strengthen the fairness and integrity of elections and of democratic frameworks and checks and balances, increase situational awareness and reinforce citizens’ participation and engagement.

The Commission will consult broadly on the shield, including Member States, civil society, academia, the private sector and citizens directly.

The Commission welcomes the decision taken by the European Parliament to set up a special committee on the European Democracy Shield, which includes members across the political spectrum.

The Commission will work closely with this committee. The concepts used to frame the committee’s mandate are a matter for the European Parliament to decide.

[1] https://commission.europa.eu/document/e6cd4328-673c-4e7a-8683-f63ffb2cf648_en
Last updated: 31 March 2025
MIL OSI Europe News –
April 1, 2025

MIL-OSI: Red Cat Holdings Reports Financial Results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and Provides Corporate Update

Source: GlobeNewswire (MIL-OSI)

SAN JUAN, Puerto Rico, March 31, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and provides a corporate update.

Recent Operational Highlights:

Black Widow selected as the sole winner and provider of the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record.
Closed the acquisition of FlightWave Aerospace Systems Corporation. The acquisition officially brings the Edge 130, FlightWave’s Blue UAS approved military-grade tri-copter, into Red Cat’s Family of Systems.
Partnered with Palantir to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones. This collaboration will transform autonomous sUAS operations for modern warfare by utilizing Palantir’s Visual Navigation in GPS denied environments.
Partnered with Palantir to deploy Warp Speed, Palantir’s manufacturing OS. This collaboration will transform our supply and manufacturing operations with Palantir’s AI enabled monitoring, process flow enhancement and comprehensive data analysis. Palantir’s Warp Speed will optimize Red Cat’s production and streamline its supply chain, change management, and quality assurance, ultimately reducing costs and improving margins.
Announced that the Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.
Introduced our Black Widow™ short-range reconnaissance drone and Edge 130 Tricopter to the Middle East market at the International Defense Exhibition and Conference in Abu Dhabi, UAE, Feb 17-21 2025.
Will be introducing Black Widow™ and Edge 130 drones to the Latin American market at LAAD 2025 in Rio De Janeiro, Brazil in April 2025.
Introduced Black Widow™ to the Asia Pacific Market at the AISSE conference in Putrajaya, Malaysia in January 2025.
Expanded our Red Cat Futures Industry Consortium to include Palantir and Palladyne to boost AI capabilities in contested environments, including visual navigation.

2024 Transition Period (as of December 31, 2024 and the eight months then ended) Financial Highlights:

Transition period revenue of $4.9 million
Ended the period with cash and accounts receivable of $9.6 million
Closed an additional $6 million financing since prior quarter end
Guidance of $80-$120 million for calendar year 2025 , which consists of:
- $25 million in Non-SRR Black Widow sales
- $25 million in Edge 130 sales
- $5 million in Fang FPV sales
- $25 to $65 million in SRR-related Black Widow sales

“Red Cat’s partnerships and global expansion strategy is already yielding strong results. Over the past few months, we’ve introduced the Black Widow and Edge 130 drones to key international markets, including the Middle East, Asia Pacific, and soon Latin America,” said Jeff Thompson, Red Cat CEO. “This momentum underscores growing global interest in our Family of Systems. The ongoing development of Black Widow for the U.S. Army’s SRR Program of Record, bolstered by AI partners like Palantir and Palladyne, we’re not only meeting immediate defense needs—we’re ensuring our warfighters and allies are well equipped for rapidly-evolving battlefield.”

“Our financial position remains solid as we scale to meet increased demand,” added Thompson. “With over $9 million in cash and receivables and the recently secured debt financing of $15 million, we’ve significantly strengthened our capital position heading into a pivotal year. This infusion of non-dilutive capital allows us to aggressively scale production, and meet accelerating demand tied to the U.S. Army’s SRR program and international opportunities. Combined with our strong cash balance and operational discipline, we are confident in our ability to support 2025 revenue guidance and deliver long-term shareholder value.”

Conference Call Today

CEO Jeff Thompson will host an earnings conference call at 4:30 p.m. ET on Monday, March 31, 2025 to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

Interested parties can attend the conference call through a live webcast that can be accessed at:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=kOCu4DoZ.

About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

Contact:

INVESTORS:
E-mail: Investors@redcat.red

NEWS MEDIA:
Phone: (347) 880-2895
Email: peter@indicatemedia.com


RED CAT HOLDINGS
Condensed Consolidated Balance Sheets

		December 31,			April 30,
		2024			2024
ASSETS

Cash	$	9,154,297		$	6,067,169
Accounts receivable, net		489,316			4,361,090
Inventory, including deposits		13,592,900			8,610,125
Intangible assets including goodwill, net		26,124,133			12,882,939
Equity method investee		—			5,142,500
Note receivable		—			4,000,000
Other		6,243,621			7,473,789

TOTAL ASSETS	$	55,604,267		$	48,537,612

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable and accrued expenses	$	3,517,118		$	2,703,922
Debt obligations		350,000			751,570
Operating lease liabilities		1,617,596			1,517,590
Total liabilities		5,484,714			4,973,082

Stockholders’ capital		174,864,256			124,690,641
Accumulated deficit/comprehensive loss		(124,744,703	)		(81,126,111	)
Total stockholders’ equity		50,119,553			43,564,530
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	55,604,267		$	48,537,612


Condensed Consolidated Statements of Operations

	For the Eight Months Ended December 31, 2024			For the Year Ended April 30, 2024
Revenues	$	4,850,304		$	17,836,382

Cost of goods sold		6,206,378			14,155,836

Gross (loss) profit		(1,356,074	)		3,680,546

Operating Expenses
Research and development		6,610,980			6,266,129
Sales and marketing		6,321,763			5,086,600
General and administrative		11,459,442			11,214,154
Impairment loss		93,050			412,999
Total operating expenses		24,485,235			22,979,882
Operating loss		(25,841,309	)		(19,299,336	)

Other expense		17,772,662			2,227,360

Net loss from continuing operations		(43,613,971	)		(21,526,696	)

Loss from discontinued operations		—			(2,525,933	)
Net loss	$	(43,613,971	)	$	(24,052,629	)

Loss per share – basic and diluted	$	(0.57	)	$	(0.40	)

Weighted average shares outstanding – basic and diluted		77,039,869			60,118,675

Condensed Consolidated Statements of Cash Flows

	For the Eight Months Ended December 31, 2024			For the Year Ended April 30, 2024
Cash Flows from Operating Activities
Net loss from continuing operations	$	(43,613,971	)	$	(21,526,696	)
Non-cash expenses		22,633,786			8,479,195
Changes in operating assets and liabilities		444,208			(4,672,816	)
Net cash used in operating activities		(20,535,977	)		(17,720,317	)

Cash Flows from Investing Activities
Proceeds from sale of marketable securities		—			12,826,217
Proceeds from sale of equity method investment and note receivable		4,400,000			—
Other		(163,555	)		740,861
Net cash provided by investing activities		4,236,445			13,567,078

Cash Flows from Financing Activities
Proceeds from issuance of convertible notes payable, net		13,456,000			—
Payments of debt obligations, net		(394,606	)		(572,137	)
Proceeds from exercise of stock options		1,350,267			2,655
Proceeds from exercise of warrants		4,974,999			—
Proceeds from issuance of common stock, net		—			8,404,812
Net cash provided by financing activities		19,386,660			7,835,330

Net cash used in discontinued operations		—			(875,227	)

Net increase in Cash		3,087,128			2,806,864
Cash, beginning of period		6,067,169			3,260,305
Cash, end of period	$	9,154,297		$	6,067,169

The MIL Network –

April 1, 2025

MIL-OSI: SAML Announces Strategic Review and Operational Streamlining of Public Safety Businesses and Shareholder Meeting Date.
Source: GlobeNewswire (MIL-OSI)

NEW YORK, NY, March 31, 2025 (GLOBE NEWSWIRE) — Samsara Luggage Inc. (OTC: SAML), a publicly traded company focused on acquiring and growing businesses in the public safety sector, today announced the streamlining of its operations to enhance efficiency and position the company for future growth. Additionally, the company is completing feasibility studies, due diligence, and/or contract negotiations on several potential acquisitions and growth initiatives.

SAML currently operates seven public safety subsidiaries across the United States and the United Arab Emirates, along with an industrial electric vehicle (EV) business in Serbia. These businesses are undergoing efficiency and cost-reduction initiatives to better align resources and optimize cash flow while building a robust management team to support the company’s uplisting ambitions.

Like many OTC companies, the company has faced challenges raising capital over the past two years, significantly affecting the growth and operations of its operating companies and its parent company, Ilustrato Pictures International Inc. (“ILUS”). However, ILUS believes it has a clear path to significant capital access during the next quarter. It’s anticipated that SAML will benefit greatly from improved investment, cash flow, and liquidity, allowing it to revitalize the cash-starved subsidiaries and reignite its growth and acquisition plans.

Streamlining the Public Safety Division

In 2024, SAML faced challenges scaling its public safety division due to the business’s capital-intensive nature and limited access to growth capital. To address these challenges, the company has implemented operational improvements to enhance cost efficiency and plans to advance previously delayed product certifications.

“There is no beating around the bush. The last 18 months in the ERT businesses have been extremely tough, with limited access to working capital. However, we expect those days are rapidly ending as the parent company anticipates being in a stronger position to assist with working capital. We remain committed to advancing our public safety ERT businesses and positioning the company for an uplisting alongside simultaneous M&A activities. I’m expecting an exciting time, with lots of hard work bringing our visions to reality, but we are ready,” said Nicolas Link, Interim CEO of SAML.

SAML is exploring non-cash-intensive acquisitions that can add scale and enhance the company’s market presence to supplement organic growth.

Revitalizing the Industrial Electric Vehicle Business

SAML’s Eraptor division, which focuses on industrial electric vehicles, will also receive renewed focus in 2025. Resource constraints in 2024 led to stalled production and R&D activities. Management aims to resume production and enhance R&D efforts to capitalize on the growing demand for innovative industrial EV solutions.

The Eraptor business is strategically aligned with SAML’s public safety operations, sharing a similar customer base and target markets. This alignment offers opportunities for cross-sector synergies and market penetration.

Exploring opportunities

Over the past 36 months, the world has changed considerably in almost all areas, including but not limited to governments, costs, inflation, financing, access to capital, technology, geopolitics, energy demands, defense, remote working, and nearly every aspect of daily life. These changes have drastically altered global dynamics. For this reason, we will explore opportunities that will add value to shareholders and generate positive cash flow, focusing on areas that align with our management skill set.

Corporate Updates

SAML also provides the following updates regarding its corporate structure and leadership. The company had previously filed for a name change to Emergency Response Technologies Inc. and a new trading symbol (RESQ). Although the application was initially declined due to a lender relationship, the company has since resolved the matter. Management expects to refile an application after its audited 2024 financials are completed.

Mr. John-Paul Backwell has stepped down as CEO and a Director of the Company to devote his efforts to developing Nasdaq-listed Fusion Fuel Green Plc (Nasdaq: HTOO), a corporation in which SAML’s parent entity, ILUS, maintains a substantial shareholding. Mr. Nicolas Link will temporarily assume the duties of CEO while the company recruits a new permanent CEO and Mr. Backwell will remain as an advisor to the company.

“We will undoubtedly miss John Paul Backwell’s involvement in ERT, but he remains a part of our extended ILUS family. He remains an advisor to ERT while focusing primarily on the HTOO business. I want to thank JP for his incredible sacrifice and commitment to the ERT business and to the group, for that matter. We are actively recruiting for a CEO to lead the SAML business into the next stage,” said Nicolas Link, Chairman and Interim CEO.

SAML notifies shareholders that it will file an NT 10-K and will file its financials late for a number of reasons, including but not limited to the following:
- Addressing several SEC comments on its previous filings and disclosures, many of which are technical accounting issues, with numerous comments dating back to a period before our takeover.
- There have been a number of changes within the group, including acquisitions, mergers, and share swaps. All of these have a knock-on effect in terms of accounting and consolidation that can only be completed once the subsidiaries have been audited and can be consolidated. We are mindful that we want to file the 2024 financials and any prior amendments correctly, providing a clean runway for upcoming registrations across the group. We have engaged consultants to assist with this, who have been working on it for several months.
- In 2024, we changed auditors across the group, who are re-auditing the entire two-year period and can only complete their audits sequentially as the group finishes each part.
- We also underwent software integration across the companies of an integrated ERP system, which naturally took time.
- To prevent this scenario from happening again, we have hired additional accounting resources, highly experienced specialists in management within this area, and consultants with extensive PCAOB and SEC experience to ensure that we are accurate going forward.
The team is working diligently to complete the filing as soon as possible. Management thanks shareholders for their patience and assures them that the delay is not due to any legal problems. Instead, it is for continued improvement and to address previously raised regulatory comments, allowing for smoother registration processes in the future.

SAML will hold its annual shareholder meeting on June 20, 2025, as part of the broader ILUS group shareholder meeting, with further information to be published in due course.

More information on the company’s progress can be found in the links below:
Website: https://ert-international.com
X: @ERT_ILUS
Email: info@ert-international.com
Source: SAML
Related Links: https://ert-international.com

Forward-Looking Statement

Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on social & media channels.

SOURCE: Samsara Luggage Inc.

The MIL Network –
April 1, 2025

MIL-OSI: Helport AI Reports First Half Fiscal Year 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

First Half Fiscal Year 2025 Revenue up 13.1% to $16.4 Million Period over Period

Accelerating Enterprise AI Adoption Fuels Market Expansion, Unlocking New Opportunities in AI-Powered Customer Engagement

Management to Host Conference Call Today, March 31, 2025 at 4:30 PM ET

SINGAPORE and SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) — Helport AI Limited (NASDAQ: HPAI) (“Helport AI” or the “Company”), an AI technology company serving enterprise clients with intelligent customer communication software and services, today announced financial results for the six months ended December 31, 2024.

First Half Fiscal Year 2025 Highlights

Average monthly subscribed seats were 6,469 for the six months ended December 31, 2024, representing an increase of 29.1% from 5,011 in the same period of 2023.
Revenue for the six months ended December 31, 2024, was $16.4 million, representing an increase of 13.1% from $14.5 million in the six months ended December 31, 2023, driven by increased enterprise adoption of AI-driven solutions.
Gross profit for the first half of fiscal year 2025 was $9.0 million, representing a decrease of 7.7% from $9.7 million in the first half of fiscal year 2024, as a result of continued investment in AI infrastructure and product innovation.
Net income was $1.1 million in the first half of fiscal year 2025, compared to $6.2 million in the first half of fiscal year 2024, representing a decrease of 82.9%, as a result of our increased investments in R&D, public company regulatory compliance costs, and global expansion expenses.
Net cash provided by operating activities was $3.9 million for the six months ended December 31, 2024, supporting business expansion and strategic initiatives.
As of December 31, 2024, there were 37,132,968 ordinary shares and 18,845,000 warrants issued and outstanding.

Subsequent Operational Milestones

As of December 2024, Helport AI Assist software is officially approved and available on Google Cloud Marketplace, allowing businesses across sectors to access Helport’s AI-driven software.
Successful rollout of partnership with Google by delivering AI-driven software and services to one of its US west coast government accounts. First phase completed with further collaboration underway.
In December 2024, Helport AI formed a strategic partnership with a US wholesale mortgage lender to offer Helport AI Assist software to its network of over 100,000 loan officers nationwide.
Opened new office in the Philippines in January 2025, establishing a ‘Global Center of Excellence’ to drive artificial intelligence operations and service offerings in the business process outsourcing (BPO) industry. In less than three months, headcount has grown to more than 100 workers, reflecting strong demand from customers in the region.
Appointed Amy Fong as President, Director, and Interim Chief Financial Officer, bringing over 25 years of experience as a seasoned professional across multiple industries, including banking, private equity, management consulting, and the not-for-profit sector.
Progress in the debt collection space since January 2025, having secured partnerships with three consumer financing companies in Southeast Asia, two of which are publicly listed in the U.S.
Since February 2025, the Company has signed partnerships with seven U.S. insurance agencies to pilot Helport AI Assist software.
Company to host “Investor/Analyst Day” at its North America HQ in San Diego in Q2 of 2025.

Outlook for Second Half Fiscal Year 2025 & Beyond:

Revenue Growth: Accelerating revenue materialization from a robust pipeline of customers in our core sectors of insurance, mortgage sales, BPO call centers, consumer financing, and government services. Driving further expansion in the U.S. and Southeast Asia through enterprise partnerships and focused execution in these core industries.
Profitability & Cost Optimization: Improving AI training efficiency and cloud infrastructure to enhance margins over time.
AI+BPO Monetization: Expanding in-house AI + human service delivery model to facilitate new customer acquisition and rapid proof of concept. Leveraging this software plus service offering to efficiently scale user base and revenue generation across global markets.
Continued R&D Innovation: Investing in AI capabilities, including voice cloning, multilingual automation, and industry-specific integrations.

Management Commentary

“The first half of fiscal year 2025 delivered revenue growth of 13.1%, which was driven by continued enterprise adoption of AI-powered software, technology improvements, and the scaling of our international sales and operations teams,” said Guanghai Li, Chief Executive Officer of Helport AI. “During this time, we made significant investments in product development, cloud infrastructure, and international expansion, which temporarily impacted gross margins and profitability. However, we believe that these investments are essential to scaling our platform and expanding into new markets, and we maintained profitability despite these investments. Moreover, we have seen our enterprise customers increasingly leverage our AI-powered BPO solutions to drive cost efficiencies and improve customer engagement, helping differentiate ourselves as a market leader in the AI-driven customer contact space.”

“On the technology front, our products are now comprehensively integrated with large language models (LLMs), which has been shown to enhance their ability to digest raw, unstructured information and provide smart, domain-specific applications for our growing customer base. We have also built new industry-specific knowledge bases, achieving major milestones for the Company across key sectors. Demonstrating this ability to penetrate new industries where we see vast growth potential, we have partnered with U.S.-based LendSure Mortgage Corp. (“LendSure”), a wholesale lender with a network of over 100,000 loan officers, as well as with seven insurance agencies across multiple US states. These scalable seeds represent early traction across multiple industry sectors, each of which represents significant market opportunities.”

“Operationally, we continued to make strategic investments in our team and infrastructure to strengthen and expand our capabilities and global reach. We have established offices in the Philippines and the U.S. and are in the process of opening additional offices in North America and Southeast Asia to execute on both existing and potential demand in these regions. We also welcomed Amy Fong as President, Director, and Interim CFO. Amy is a seasoned executive who is now overseeing our finance functions, leading strategy across capital markets, partner and customer development, and global operations.”

“Looking ahead to the second half of fiscal year 2025, we are building on our foundation and doubling down on strategic initiatives to accelerate revenue growth and enhance profitability. We are deepening penetration in what we anticipate will be high-growth markets, specifically North America and Southeast Asia. As demonstrated with our recent customer acquisitions across mortgage, insurance, and debt collection, we are tailoring our AI-powered solutions for industry-specific needs, aiming to expand adoption among BPOs, financial services, and public sector industries. We are driving monetization and acceleration of our AI+BPO offering, which has seen noteworthy demand in new segments such as consumer financing, which we expect will allow us to capture greater market share in AI-driven customer engagement solutions.”

“We will continue to prioritize R&D investments and building next-generation AI products that further differentiate Helport AI in the market. We are also focusing on cost efficiencies, including optimizing AI training costs and cloud infrastructure, and improving unit economics per deployment, to strengthen profitability and deliver long-term value to our shareholders,” concluded Li.

Financial Review for the Six Months Ended December 31, 2024 and 2023

Revenue

During the six months ended December 31, 2024 and 2023, all of our revenue was derived from AI services. Revenue increased by approximately US$1.9 million, or 13.1%, from US$14.5 million for the six months ended December 31, 2023 to US$16.4 million for the six months ended December 31, 2024. The increase was primarily attributable to the average monthly subscribed seats, which grew from 5,011 for the six months ended December 31, 2023 to 6,469 for the six months ended December 31, 2024. The growth was driven by (i) our efforts in continuous optimization and development in our service offerings and software platform, (ii) our abilities to improve overall cost performance for customers in their business management process, and (iii) the growing demand for AI software in the professional technology services market. During the first half of FY2025, the Company entered the U.S. market and secured several customers, demonstrating initial business traction and expansion potential.

Cost of Revenue

Cost of revenue primarily consists of amortization of software, payments to a third-party service provider for outsourced operations, as well as cloud infrastructure costs. Cost of revenue related to AI services increased by approximately US$2.6 million, or 55.2%, from US$4.8 million for the six months ended December 31, 2023 to US$7.4 million for the six months ended December 31, 2024, mainly due to the corresponding rise in outsourced operation costs as revenue increased. The growth rate of cost of revenue is proportionally higher than that of revenue, primarily due to investments required to serve new markets and customers. These investments enable us to enhance our product and service offerings with differentiated, competitive technology—particularly through the development of industry-specific application scenarios. These tailored solutions are essential for entering new sectors such as insurance, mortgage sales, and government services, as well as for localizing our platform to meet the regulatory and operational demands of new geographic regions like North America and Southeast Asia.

Gross Profit

As a result of the foregoing, we recorded gross profit of US$9.0 million and US$9.7 million for the six months ended December 31, 2024 and 2023, respectively. This reduction of gross profit margin from 67.0% to 54.6% is the result of the aforementioned elevated amortization costs from software R&D, increased outsourcing operation fees, and expanded cloud infrastructure, which we believe are necessary for our future growth and profitability.

Selling and Marketing Expenses

Our selling and marketing expenses increased by 953.0% from US$50,214 for the six months ended December 31, 2023 to US$528,746 for the six months ended December 31, 2024, which was mainly due to (i) the increase of payroll expenses of US$303,050, primarily driven by the establishment and ramp-up of dedicated sales and marketing teams in our U.S. subsidiary; and (ii) the increase of share-based compensation expense of US$121,800, resulting from share grants under the Company’s 2024 Equity Incentive Plan. The U.S. team expansion is part of our broader international growth strategy, aimed at strengthening our presence in North America—a key strategic market. As part of this effort, we significantly expanded our U.S. office presence, increasing headcount to support go-to-market execution, client onboarding, business development, and marketing in the region. In February 2024, we established the U.S. team, and by December 2024, it had expanded to twenty-two staff, among whom eight were engaged in selling and marketing activities.

General and Administrative Expenses

Our general and administrative expenses increased by 125.2% from US$2.0 million for the six months ended December 31, 2023 to US$4.6 million for the six months ended December 31, 2024, which was primarily attributable to: (i) an increase of US$1.5 million in professional service fees such as advisory fees, audit fees and legal fees for overseas listing; (ii) an increase of US$0.4 million in insurance expenses; (iii) an increase of US$0.2 million in payroll expenses resulting from the expansion of the management team’s headcount; and (iv) an increase of US$0.2 million in withholding tax incurred from 10% withholding tax on AI services provided to our customers in China.

Research and Development Expenses

Our research and development expenses increased by US$1.3 million from US$78.8 thousand for the six months ended December 31, 2023 to US$1.4 million for the six months ended December 31, 2024. The increase was attributable to an additional US$0.8 million in AI training service fees and US$0.3 million in product development fees incurred during the six months ended December 31, 2024, allowing us to better differentiate and diversify our product and services offerings with competitive technologies, especially as they relate to the development of industry-specific application scenarios.

Financial Expenses, net

Our financial expenses, net increased from US$19,162 for the six months ended December 31, 2023 to US$312,437 for the six months ended December 31, 2024, primarily due to an increase in foreign exchange loss of US$266,669 and the increase in interest expenses accrued for convertible promissory notes and the loan from a third party of US$22,139.

Income Tax Expenses

As a result of our operating income position for the six months ended December 31, 2024 and 2023, we incurred income tax expenses of US$0.7 million and US$1.3 million for the six months ended December 31, 2024 and 2023, respectively.

Net Income

As a result of the foregoing, our net income decreased by US$5.1 million, or 82.9%, from US$6.2 million for the six months ended December 31, 2023 to US$1.1 million for the six months ended December 31, 2024. The decrease in net income was mainly due to a US$2.6 million increase in general and administrative expenses, a US$1.4 million increase in research and development expenses, and a US$0.7 million decrease in gross profit.

Liquidity and Capital Resources

Cash was $0.9 million as of December 31, 2024, as compared to $0.1 million on December 31, 2023. We had a positive working capital of $7.6 million and $10.6 million as of December 31, 2024 and June 30, 2024, respectively. Our liquidity is based on our ability to enhance our operating cash flow position and obtain financing from equity and debt investors to fund our general operations and capital expenditure. Our ability to further enhance our liquidity depends on management’s ability to execute our business plan successfully, which includes optimizing accounts receivable collection and striking a balance between revenue growth and investments in R&D activities.

Use of Non-GAAP Financial Measures

We consider adjusted net income, a non-GAAP financial measure, as a supplemental measure to review and assess our operating performance. We define adjusted net income for a specific period as net income in the same period excluding share-based compensation expenses and changes in fair value of warrant liabilities.

We present this non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Accordingly, we believe that adjusted net income helps identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that are included in net income and certain expenses that are not expected to result in future cash payments or that are non-recurring in nature. We also believe that the use of the non-GAAP financial measure facilitates investors’ assessment of our operating performance, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision making.

The non-GAAP financial measure should not be considered in isolation from or construed as an alternative to its most directly comparable financial measure prepared in accordance with GAAP. Investors are encouraged to review the historical non-GAAP financial measure in reconciliation to its most directly comparable GAAP financial measure. As the non-GAAP financial measure has material limitations as an analytical metric and may not be calculated in the same manner by all companies, such measure may not be comparable to other similarly titled measure used by other companies. In light of the foregoing limitations, you should not consider the non-GAAP financial measure as a substitute for, or superior to, its most directly comparable financial measure prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

The following table reconciles our adjusted net income for the periods indicated to the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP, which is net income.

	For the six months ended December 31,
	2024		2023
Net income	$	1,066,894	$	6,243,606
Add:
Share-based compensation expenses		223,933		–
Change in fair value of warrant liabilities		336,136		–
Total	$	1,626,963	$	6,243,606

First Half Fiscal Year 2025 Financial Results Conference Call

Guanghai Li, Chief Executive Officer, and Amy Fong, President and Interim Chief Financial Officer, will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Date:	Monday, March 31, 2025
Time:	4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time
Toll-free dial-in number:	1-800-274-8461
International dial-in number:	1-203-518-9814
Conference ID (Required for Entry):	HELPORT

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1712485&tp_key=f52524cadf and via the investor relations section of the Company’s website here.

A replay of the webcast will be available after 9:30 p.m. Eastern Time through July 1, 2025.

Toll-free replay number:	1-844-512-2921
International replay number:	1-412-317-6671
Replay ID:	11158521

About Helport AI Limited

We are a global AI technology company serving enterprise clients with intelligent customer communication software and services. Our proprietary software offering, Helport AI Assist (“AI Assist”), is a real-time, AI-driven “co-pilot” providing intelligent guidance for customer contact professionals across business settings. In addition, we provide AI+BPO (Business Process Outsourcing) services to facilitate customer engagement, helping clients grow sales, improve customer service, and reduce operational costs.

Forward-Looking Statements

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

For more information, please contact:

Helport AI Investor Relations:
Website: https://ir.helport.ai
Email: ir@helport.ai

External Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
HPAI@mzgroup.us
www.mzgroup.us

HELPORT AI LIMITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in and U.S. dollars (“US$”), except share data)

	As of December 31,		As of June 30,
	2024		2024
	(unaudited)
Cash	$	852,463	$	2,581,086
Accounts receivable		22,016,884		21,313,735
Deferred offering costs		–		817,871
Prepaid expenses and other receivables		2,027,167		41,966
Total current assets		24,896,514		24,754,658

Intangible assets, net		8,592,817		2,425,694
Right-of-use assets, net		762,644		–
Total non-current asset		9,355,461		2,425,694
Total assets	$	34,251,975	$	27,180,352

Accounts payable	$	3,280,565	$	284,067
Income tax payable		2,508,021		2,724,998
Amount due to related parties		536,538		965,776
Convertible promissory notes		–		4,889,074
Warrant liabilities		4,782,915		–
Accrued expenses and other liabilities		5,684,775		5,263,239
Lease liabilities, current		110,832		–
Deferred tax liabilities		332,626		–
Total current liabilities		17,236,272		14,127,154

Lease liabilities, non-current		687,093		–
Total non-current liabilities		687,093		–
Total liabilities		17,923,365		14,127,154

Commitments and contingencies

Ordinary shares (US$0.0001 par value per share; 500,000,000 authorized as of December 31, 2024 and June 30, 2024, respectively; 37,132,968 and 30,280,768 issued and outstanding as of December 31, 2024 and June 30, 2024, respectively)*		3,713		3,028
Additional paid-in capital*		2,212,361		4,528
Retained earnings		14,112,536		13,045,642
Shareholders’ equity		16,328,610		13,053,198
Total liabilities and shareholders’ equity	$	34,251,975	$	27,180,352

*Par value of ordinary shares, additional paid-in capital and share data have been retroactively restated to give effect to the reverse recapitalization that is discussed in Note 1 to the unaudited condensed consolidated financial statements.

HELPORT AI LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Amounts in and U.S. dollars (“US$”), except share data)

	For the six months ended December 31,
	2024			2023
	(unaudited)			(unaudited)
Revenue	$	16,406,402		$	14,506,363
Cost of revenue		(7,440,338	)		(4,793,021	)
Gross profit		8,966,064			9,713,342

Selling expenses		(528,746	)		(50,214	)
General and administrative expenses		(4,598,484	)		(2,042,289	)
Research and development expenses		(1,448,115	)		(78,757	)
Total operating expenses		(6,575,345	)		(2,171,260	)

Income from operation		2,390,719			7,542,082

Financial expenses, net		(312,437	)		(19,162	)
Change in fair value of warrant liabilities		(336,136	)		–
Income before income tax expense		1,742,146			7,522,920
Income tax expense		(675,252	)		(1,279,314	)
Net income	$	1,066,894		$	6,243,606

Total comprehensive income	$	1,066,894		$	6,243,606

Earnings per ordinary share
Basic		0.03			0.21
Diluted		0.03			0.21
Weighted average number of ordinary shares outstanding*
Basic		35,990,935			30,280,768
Diluted		35,990,935			30,280,768

*Share data have been retroactively restated to give effect to the reverse recapitalization that is discussed in Note 1 to the unaudited condensed consolidated financial statements.

HELPORT AI LIMITED UNAUDITED CONDENSED CONDOLIDATED STATEMENTS OF CASH FLOWS (Amounts in and U.S. dollars (“US$”), except share data)

	For the six months ended December 31,
	2024			2023
	(unaudited)			(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	1,066,894		$	6,243,606
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets		1,957,877			1,166,667
Amortization of right-of-use assets		36,806			–
Share-based compensation		223,933			–
Change in fair value of warrant liabilities		336,136			–
Changes in operating assets and liabilities:
Accounts receivable		(703,149	)		(5,809,454	)
Prepaid expenses and other receivables		1,028,346			(57,896	)
Accounts payable		2,996,498			1,654,223
Amount due to related parties		–			10,800
Accrued expenses and other liabilities		(3,196,882	)		1,939,154
Income tax payable		(216,977	)		1,279,315
Deferred tax liabilities		332,626			–
Lease liabilities		(10,810	)		–
Net cash provided by operating activities		3,851,298			6,426,415

CASH FLOWS FORM INVESTING ACTIVITY
Purchase of intangible assets		(8,125,000	)		(7,000,000	)
Net cash used in investing activity		(8,125,000	)		(7,000,000	)

CASH FLOWS FORM FINANCING ACTIVITIES
Deferred offering costs		(213,052	)		(467,465	)
Loan from a third party		–			954,909
Repayment of loans from a third party		(199,582	)		–
Repayment of loans from related parties		(429,238	)		(5,143	)
Cash inflow from reverse recapitalization		1,136,951			–
Proceeds from PIPE investments		2,600,000			–
Repayment of sponsor loans		(350,000	)		–
Net cash provided by financing activities		2,545,079			482,301

Effect of exchange rate changes		–			(130	)

Net change in cash		(1,728,623	)		(91,414	)
Cash at the beginning of the period		2,581,086			142,401
Cash at the end of the period	$	852,463		$	50,987

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Recognition of right-of use assets and lease liabilities	$	799,450		$	–

The MIL Network –

April 1, 2025

MIL-OSI: Open Lending Announces Leadership Changes

Source: GlobeNewswire (MIL-OSI)

Board Chair Jessica Buss Appointed Chief Executive Officer

Charles “Chuck” Jehl will Continue to Serve as Interim Chief Financial Officer and a Member of the Board of Directors

Michelle Glasl Appointed Chief Operating Officer

AUSTIN, Texas, March 31, 2025 (GLOBE NEWSWIRE) — Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that its Board of Directors (the “Board”) has appointed Jessica Buss as Chief Executive Officer, effective immediately. Chuck Jehl will continue to serve as Interim Chief Financial Officer and as a member of the Board. The Board also has appointed Michelle Glasl as Chief Operating Officer. The Board is conducting a comprehensive search process to identify a permanent Chief Financial Officer.

“We are thrilled to announce Jessica as our new CEO,” said Thomas Hegge, a member of the Board. “Her extensive experience in the insurance industry will be instrumental in ensuring a seamless and profitable collaboration between Open Lending, our insurance carrier partners, and our automotive lending partners. Our focus remains on enhancing loan performance, minimizing potential loan defaults, and improving our underwriting processes to more accurately price insurance premiums for the risk. We remain committed to serving our near and non-prime consumers alongside our valued partners.”

“We are grateful that Chuck stepped in to lead Open Lending through a challenging and volatile period for our Company and industry,” added Mr. Hegge. “He is passing the baton to Jessica to continue to execute our strategic plan and usher in the next phase of growth. Meanwhile, Chuck will continue to support Open Lending during this transitionary period as Interim Chief Financial Officer and a valued member of the Board.

“In addition to serving on Open Lending’s Board for the last five years, Jessica brings decades of executive experience in the insurance industry,” said Mr. Jehl. “She understands the opportunities and challenges of our industry, and I believe she will continue our legacy of serving our underserved near- and non-prime consumers.”

“I’d like to thank Chuck for his many contributions in various executive leadership roles at Open Lending since 2020, including taking the Company public,” said Ms. Buss. “He has been a critical part of the management team, and I am looking forward to continuing to work with him as a member of our Board.

Jessica Buss previously served as the CEO of Argo Group International Holdings, Ltd. a subsidiary of Brookfield Reinsurance Ltd (NYSE, TSX: BNRE), a leading capital solutions business providing insurance and reinsurance services to individuals and institutions. She was previously the president, U.S. insurance, of Argo prior to its acquisition by Brookfield Re. Prior to joining Argo, she was President and CEO of GuideOne Insurance Company and, prior to that, she was senior vice president – Commercial and Specialty Lines at State Auto Insurance Companies. Jessica held several other positions during her tenure at State Auto, including chief operating officer and chief financial officer of the company’s specialty subsidiary, and senior vice president of Specialty. Prior to joining State Auto, Jessica was a member of a three-person team that raised the capital for the formation and start-up operations of Rockhill Holdings, a niche property and casualty business that was purchased by State Auto in 2009. She was also CFO for Citizens Property Insurance Corporation. In 2016, Jessica was named one of Insurance Business’ Elite Women of the Year. Jessica earned her bachelor’s degree in accounting from the University of Wisconsin and her Master of Business Administration from the University of Florida.

Michele Glasl also joins Open Lending from Argo Group, where she has served as Head of Operations since 2022. As Head of Operations, she oversaw information technology, security, operations and communications. Glasl previously served as SVP of Strategy and Business Development at Argo Group. Prior to that, she served as Chief Information Officer at GuideOne Insurance from June 2017 to June 2022. She previously served as Vice President of Technology at State Auto from February 2009 to June 2017. Ms. Glasl holds a Bachelor of Science degree from the University of Wisconsin – Milwaukee.

Board Changes
Jessica Buss will continue to serve as Chairman of the Board but will no longer be a member of the nominating and corporate governance and audit committees of the Board. Thomas Hegge will join the audit committee. Chuck Jehl will continue to serve as a member of the Board.

About Open Lending
Open Lending (Nasdaq: LPRO) provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements related to the benefits of any leadership transition and future strategic plans. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the Company’s control. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, market, political and business conditions; applicable taxes, inflation, supply chain disruptions including global hostilities and responses thereto, interest rates and the regulatory environment; the outcome of judicial proceedings to which Open Lending may become a party; and other risks discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contact:
Investors
openlending@icrinc.com

The MIL Network –

April 1, 2025
MIL-OSI: Pathfinder Bancorp, Inc. Declares Dividend

Source: GlobeNewswire (MIL-OSI)

OSWEGO, N.Y., March 31, 2025 (GLOBE NEWSWIRE) — James A. Dowd, President and CEO of Pathfinder Bancorp, Inc., the bank holding company of Pathfinder Bank (NASDAQ: PBHC) (listing: PathBcp), has announced that the Company has declared a cash dividend of $0.10 per share on the Company’s voting common and non-voting common stock, and a cash dividend of $0.10 per notional share for the issued warrant relating to the fiscal quarter ending March 31, 2025. The first quarter 2025 dividend will be payable to all shareholders of record on April 18, 2025 and will be paid on May 9, 2025.

About Pathfinder Bancorp, Inc.
Pathfinder Bank is a New York State chartered commercial bank headquartered in Oswego, whose deposits are insured by the Federal Deposit Insurance Corporation. The Bank is a wholly owned subsidiary of Pathfinder Bancorp, Inc., (NASDAQ SmallCap Market; symbol: PBHC, listing: PathBcp). The Bank has twelve full service offices located in its market areas consisting of Oswego and Onondaga County and one limited purpose office in Oneida County.

This release may contain certain forward-looking statements, which are based on management’s current expectations regarding economic, legislative, and regulatory issues that may impact the Company’s earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services.

CONTACT: James A. Dowd, President and CEO, (315) 343-0057

The MIL Network –

April 1, 2025

MIL-OSI: Progress Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Annualized Recurring Revenue (“ARR”) of $836 million Grew 48% year-over-year
Revenue of $238 million Grew 29% year-over-year
ShareFile Integration Underway

BURLINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) — Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2025.

First Quarter 2025 Highlights:

Revenue and non-GAAP revenue of $238 million increased 29% year-over-year on an actual and 30% on a constant currency basis.
Annualized Recurring Revenue (“ARR”) of $836 million increased 48% year-over-year on a constant currency basis.
Operating margin was 14% and non-GAAP operating margin was 39%.
Diluted earnings per share was $0.24 compared to $0.51 in the same quarter last year, a decrease of 53%.
Non-GAAP diluted earnings per share was $1.31 compared to $1.25 in the same quarter last year, an increase of 5%.

“We’re extremely pleased with our excellent Q1 results,” said Yogesh Gupta, CEO of Progress. “We are ahead, or on plan, with all our ShareFile integration milestones, which are providing significant contributions to ARR and revenues, as well as expense savings. Our solid performance on the top line was again driven by our product portfolio across the board, with our data platform and infrastructure management products having a particularly solid quarter. Our Net Retention Rate again surpassed 100%, which reflects the resiliency of our business and the strength of our customer relationships. Operationally, our first quarter was solid by every metric, and I am extremely proud of our team for their dedication and relentless commitment to our customers.”

Additional financial highlights included:

	Three Months Ended
	GAAP									Non-GAAP
(In thousands, except percentages and per share amounts)	February 28, 2025			February 29, 2024			% Change			February 28, 2025			February 29, 2024			% Change
Revenue	$	238,015		$	184,685			29	%	$	238,015		$	184,685			29	%
Income from operations	$	32,426		$	35,006			(7	)%	$	93,595		$	76,756			22	%
Operating margin		14	%		19	%		(500) bps			39	%		42	%		(300) bps
Net income	$	10,946		$	22,639			(52	)%	$	58,995		$	55,928			5	%
Diluted earnings per share	$	0.24		$	0.51			(53	)%	$	1.31		$	1.25			5	%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$	68,947		$	70,504			(2	)%	$	73,211		$	72,204			1	%
										$	87,954		$	78,079			13	%

See Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures, and Select Performance Metrics and a reconciliation of non-GAAP adjustments to Progress’ GAAP financial results at the end of this press release.

Other fiscal first quarter 2025 metrics and recent results included:

Cash and cash equivalents were $124.2 million at the end of the quarter.
Days sales outstanding was 48 days compared to 50 days in the fiscal first quarter of 2024 and 67 days in the fiscal fourth quarter of 2024.

“We’re off to a very strong start for FY25, as our Q1 results demonstrate. Revenues at the high end of guidance reflect steady demand; expenses remain well-controlled; cash flow was again strong; and our bottom-line results and raised EPS guidance reflect numerous positives,” said Anthony Folger, CFO of Progress. “Beyond excellent financial performance, we repurchased $30 million of Progress shares and accelerated repayment of the revolving credit line used to partially finance the ShareFile acquisition, paying down $30 million during Q1. The ShareFile integration is tracking well, and we expect to complete the integration by year-end.”

2025 Business Outlook

Progress provides the following guidance for the fiscal year ending November 30, 2025 and the fiscal second quarter ending May 31, 2025:

	Updated FY 2025 Guidance (March 31, 2025)				Prior FY 2025 Guidance (January 21, 2025)
(In millions, except percentages and per share amounts)	GAAP		Non-GAAP		GAAP		Non-GAAP
Revenue	$958 – $970		$958 – $970		$958 – $970		$958 – $970
Diluted earnings per share	$1.19 – $1.35		$5.25 – $5.37		$1.08 – $1.23		$5.00 – $5.12
Operating margin	14% – 15	%	38	%	14% – 15	%	37% – 38	%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$216 – $228		$226 – $238		$216 – $228		$225 – $237
			$283 – $294				$282 – $294
Effective tax rate	19	%	20	%	21	%	20	%

	Q2 2025 Guidance
(In millions, except per share amounts)	GAAP	Non-GAAP
Revenue	$235 – $241	$235 – $241
Diluted earnings per share	$0.24 – $0.30	$1.28 – $1.34

Based on current exchange rates, the expected negative currency translation impact on our:

Fiscal year 2025 business outlook compared to 2024 exchange rates is approximately $2.8 million on revenue.
Fiscal Q2 2025 business outlook compared to 2024 exchange rates is approximately $0.1 million on revenue.

Based on current exchange rates, the currency translation impact is expected to be immaterial on our GAAP and non-GAAP diluted earnings per share for both fiscal year 2025 and Q2 2025.

To the extent that there are changes in exchange rates versus the current environment and/or our expectations, this may have an impact on Progress’ business outlook.

Conference Call

Progress will hold a conference call to review its financial results for the fiscal first quarter of 2025 at 5:00 p.m. ET on Monday, March 31, 2025. Participants must register for the conference call here: https://register-conf.media-server.com/register/BIb86bb577ced14b9fa67069eb761f36a9. The webcast can be accessed at: https://edge.media-server.com/mmc/p/bt5rgqn7. The conference call will include comments followed by questions and answers. Attendees must register for the webcast and an archived version of the conference call and supporting materials will be available on the Progress website within the investor relations section after the live conference call.

About Progress

Progress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Investor Contact:		Press Contact:
Michael Micciche		Jeff Young
Progress Software		Progress Software
+1 781 850 8450		+1 781 280 4000
Investor-Relations@progress.com		PR@progress.com

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended
(In thousands, except per share data)	February 28, 2025			February 29, 2024			% Change
Revenue:
Software licenses	$	58,445		$	64,100			(9	)%
Maintenance, SaaS, and professional services		179,570			120,585			49	%
Total revenue		238,015			184,685			29	%
Costs of revenue:
Cost of software licenses		2,925			2,731			7	%
Cost of maintenance, SaaS, and professional services		32,884			22,219			48	%
Amortization of acquired intangibles		10,422			7,859			33	%
Total costs of revenue		46,231			32,809			41	%
Gross profit		191,784			151,876			26	%
Operating expenses:
Sales and marketing		51,296			39,111			31	%
Product development		46,375			34,988			33	%
General and administrative		25,623			21,344			20	%
Amortization of acquired intangibles		25,808			17,389			48	%
Cyber vulnerability response expenses, net		737			987			(25	)%
Restructuring expenses		7,029			2,349			199	%
Acquisition-related expenses		2,490			702			255	%
Total operating expenses		159,358			116,870			36	%
Income from operations		32,426			35,006			(7	)%
Other expense, net		(19,124	)		(7,399	)		158	%
Income before income taxes		13,302			27,607			(52	)%
Provision for income taxes		2,356			4,968			(53	)%
Net income	$	10,946		$	22,639			(52	)%

Earnings per share:
Basic	$	0.25		$	0.52			(52	)%
Diluted	$	0.24		$	0.51			(53	)%
Weighted average shares outstanding:
Basic		43,256			43,802			(1	)%
Diluted		44,887			44,826			—	%

Cash dividends declared per common share	$	—		$	0.175			(100	)%

Stock-based compensation is included in the condensed consolidated statements of operations, as follows:
Cost of revenue	$	1,195	$	986	21	%
Sales and marketing		3,032		2,312	31	%
Product development		4,410		3,665	20	%
General and administrative		6,046		5,501	10	%
Total	$	14,683	$	12,464	18	%

CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

(In thousands)	February 28, 2025		November 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	124,161	$	118,077
Accounts receivable, net		126,366		163,575
Unbilled receivables		35,454		34,672
Other current assets		54,694		52,489
Total current assets		340,675		368,813
Property and equipment, net		13,233		13,746
Goodwill and intangible assets, net		1,980,181		2,015,748
Right-of-use lease assets		28,308		30,894
Long-term unbilled receivables		30,416		28,893
Other assets		69,605		68,872
Total assets	$	2,462,418	$	2,526,966
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and other current liabilities	$	90,768	$	113,801
Short-term operating lease liabilities		8,975		9,202
Short-term deferred revenue, net		328,798		332,142
Total current liabilities		428,541		455,145
Long-term debt, net		700,000		730,000
Convertible senior notes, net		797,277		796,267
Long-term operating lease liabilities		24,260		26,259
Long-term deferred revenue, net		71,508		72,270
Other long-term liabilities		8,985		8,237
Stockholders’ equity:
Common stock and additional paid-in capital		353,469		354,592
Retained earnings		78,378		84,196
Total stockholders’ equity		431,847		438,788
Total liabilities and stockholders’ equity	$	2,462,418	$	2,526,966

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

	Three Months Ended
(In thousands)	February 28, 2025			February 29, 2024
Cash flows from operating activities:
Net income	$	10,946		$	22,639
Depreciation and amortization		39,209			27,544
Stock-based compensation		14,683			12,464
Other non-cash adjustments		3,070			1,327
Changes in operating assets and liabilities		1,039			6,530
Net cash flows from operating activities		68,947			70,504
Capital expenditures		(1,290	)		(309	)
Repurchases of common stock, net of issuances		(23,870	)		(14,917	)
Dividend equivalent and dividend payments to stockholders		(359	)		(8,171	)
Payments for acquisitions		(1,195	)		—
Principal payment on term loan and repayment of revolving line of credit		(30,000	)		(33,437	)
Other		(6,149	)		(7,406	)
Net change in cash and cash equivalents		6,084			6,264
Cash and cash equivalents, beginning of period		118,077			126,958
Cash and cash equivalents, end of period	$	124,161		$	133,222

RECONCILIATIONS OF GAAP TO NON-GAAP SELECTED FINANCIAL MEASURES
(Unaudited)

	Three Months Ended
(In thousands, except per share data)	February 28, 2025			February 29, 2024
Adjusted income from operations:
GAAP income from operations	$	32,426		$	35,006
Amortization of acquired intangibles		36,230			25,248
Stock-based compensation		14,683			12,464
Restructuring expenses		7,029			2,349
Acquisition-related expenses		2,490			702
Cyber vulnerability response expenses, net		737			987
Non-GAAP income from operations	$	93,595		$	76,756

Adjusted net income:
GAAP net income	$	10,946		$	22,639
Amortization of acquired intangibles		36,230			25,248
Stock-based compensation		14,683			12,464
Restructuring expenses		7,029			2,349
Acquisition-related expenses		2,490			702
Cyber vulnerability response expenses, net		737			987
Provision for income taxes		(13,120	)		(8,461	)
Non-GAAP net income	$	58,995		$	55,928

Adjusted diluted earnings per share:
GAAP diluted earnings per share	$	0.24		$	0.51
Amortization of acquired intangibles		0.80			0.56
Stock-based compensation		0.32			0.28
Restructuring expenses		0.16			0.05
Acquisition-related expenses		0.06			0.02
Cyber vulnerability response expenses, net		0.02			0.02
Provision for income taxes		(0.29	)		(0.19	)
Non-GAAP diluted earnings per share	$	1.31		$	1.25

Non-GAAP weighted avg shares outstanding – diluted		44,887			44,826

OTHER NON-GAAP FINANCIAL MEASURES
(Unaudited)

Adjusted Free Cash Flow and Unlevered Free Cash Flow
	Three Months Ended
(In thousands)	February 28, 2025			February 29, 2024			% Change
Cash flows from operations	$	68,947		$	70,504			(2	)%
Purchases of property and equipment		(1,290	)		(309	)		317	%
Free cash flow		67,657			70,195			(4	)%
Add back: restructuring payments		5,554			2,009			176	%
Adjusted free cash flow	$	73,211		$	72,204			1	%
Add back: tax-effected interest expense		14,743			5,875			151	%
Unlevered free cash flow	$	87,954		$	78,079			13	%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Updated Non-GAAP Operating Margin Guidance
	Fiscal Year Ending November 30, 2025
(In millions)	Low			High
GAAP income from operations	$	137.2		$	145.7
GAAP operating margins		14	%		15	%
Acquisition-related expense		6.0			6.0
Restructuring expense		9.4			9.4
Stock-based compensation		62.8			62.8
Amortization of acquired intangibles		144.9			144.9
Cyber vulnerability response expenses, net		4.2			4.2
Total adjustments⁽¹⁾		227.3			227.3
Non-GAAP income from operations	$	364.5		$	373.0
Non-GAAP operating margin		38	%		38	%
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Fiscal Year 2025 Updated Non-GAAP Earnings per Share and Effective Tax Rate Guidance
	Fiscal Year Ending November 30, 2025
(In millions, except per share data)	Low			High
GAAP net income	$	53.2		$	60.9
Adjustments (from previous table)		227.3			227.3
Income tax adjustment⁽²⁾		(46.1	)		(46.2	)
Non-GAAP net income	$	234.4		$	242.0

GAAP diluted earnings per share	$	1.19		$	1.35
Non-GAAP diluted earnings per share	$	5.25		$	5.37

Diluted weighted average shares outstanding		44.7			45.1



² Tax adjustment is based on a non-GAAP effective tax rate of approximately 20%, calculated as follows:
	Fiscal Year Ending November 30, 2025
	Low			High
Non-GAAP income from operations	$	364.5		$	373.0
Other (expense) income		(71.5	)		(70.5	)
Non-GAAP income from continuing operations before income taxes		293.0			302.5
Non-GAAP net income		234.4			242.0
Tax provision	$	58.6		$	60.5
Non-GAAP tax rate		20	%		20	%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Adjusted Free Cash Flow and Unlevered Free Cash Flow Guidance
	Fiscal Year Ending November 30, 2025
(In millions)	Low			High
Cash flows from operations (GAAP)	$	216		$	228
Purchases of property and equipment		(7	)		(7	)
Add back: restructuring payments		17			17
Adjusted free cash flow (non-GAAP)		226			238
Add back: tax-effected interest expense		57			56
Unlevered free cash flow (non-GAAP)	$	283		$	294

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR Q2 2025 GUIDANCE
(Unaudited)

Q2 2025 Non-GAAP Earnings per Share Guidance
	Three Months Ending May 31, 2025
	Low			High
GAAP diluted earnings per share	$	0.24		$	0.30
Acquisition-related expense		0.04			0.04
Restructuring expense		0.03			0.03
Stock-based compensation		0.38			0.38
Amortization of acquired intangibles		0.83			0.83
Cyber vulnerability response expenses, net		0.01			0.01
Total adjustments⁽¹⁾		1.29			1.29
Income tax adjustment		(0.25	)		(0.25	)
Non-GAAP diluted earnings per share	$	1.28		$	1.34
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures and Select Performance Metrics

Progress furnishes certain non-GAAP supplemental information to our financial results. We use such non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that excluding the effects of certain GAAP-related items helps to illustrate underlying trends in our business and provides us with a more comparable measure of our continuing business, as well as greater understanding of the results from the primary operations of our business. Management also uses such non-GAAP financial measures to establish budgets and operational goals, evaluate performance, and allocate resources. In addition, the compensation of our executives and non-executive employees is based in part on the performance of our business as evaluated by such non-GAAP financial measures. We believe these non-GAAP financial measures enhance investors’ overall understanding of our current financial performance and our prospects for the future by: (i) providing more transparency for certain financial measures, (ii) presenting disclosure that helps investors understand how we plan and measure the performance of our business, (iii) affords a view of our operating results that may be more easily compared to our peer companies, and (iv) enables investors to consider our operating results on both a GAAP and non-GAAP basis (including following the integration period of our prior and proposed acquisitions). However, this non-GAAP information is not in accordance with, or an alternative to, generally accepted accounting principles in the United States (“GAAP”) and should be considered in conjunction with our GAAP results as the items excluded from the non-GAAP information may have a material impact on Progress’ financial results. A reconciliation of non-GAAP adjustments to Progress’ GAAP financial results is included in the tables above.

In the noted fiscal periods, we adjusted for the following items from our GAAP financial results to arrive at our non-GAAP financial measures:

Amortization of acquired intangibles – We exclude amortization of acquired intangibles because those expenses are unrelated to our core operating performance and the intangible assets acquired vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses acquired. Adjustments include preliminary estimates relating to the valuation of intangible assets from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Stock-based compensation – We exclude stock-based compensation to be consistent with the way management and, in our view, the overall financial community evaluates our performance and the methods used by analysts to calculate consensus estimates. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include these charges in operating plans.
Restructuring expenses – In all periods presented, we exclude restructuring expenses incurred because those expenses distort trends and are not part of our core operating results. Adjustments include preliminary estimates relating to restructuring expenses from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Acquisition-related expenses – We exclude acquisition-related expenses in order to provide a more meaningful comparison of the financial results to our historical operations and forward-looking guidance and the financial results of less acquisitive peer companies. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Furthermore, we do not consider these acquisition-related costs and adjustments to be related to the organic continuing operations of the acquired businesses and are generally not relevant to assessing or estimating the long-term performance of the acquired assets. In addition, the size, complexity and/or volume of past acquisitions, which often drives the magnitude of acquisition-related costs, may not be indicative of the size, complexity and/or volume of future acquisitions.
Cyber vulnerability response expenses, net – We exclude certain expenses resulting from the zero-day MOVEit Vulnerability, as more thoroughly described in our filings with the Securities and Exchange Commission since June 5, 2023. Expenses include costs to investigate and remediate these cyber related matters, as well as legal and other professional services related thereto. Expenses related to such cyber matters are provided net of expected insurance recoveries, although the timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. Costs associated with the enhancement of our cybersecurity program are not included within this adjustment. We expect to continue to incur legal and other professional services expenses in future periods associated with the MOVEit vulnerability. Expenses related to such cyber matters are expected to result in operating expenses that would not have otherwise been incurred in the normal course of business operations. We believe that excluding these costs facilitates a more meaningful evaluation of our operating performance and comparisons to our past operating performance.
Provision for income taxes – We adjust our income tax provision by excluding the tax impact of the non-GAAP adjustments discussed above.
Constant currency – Revenue from our international operations has historically represented a substantial portion of our total revenue. As a result, our revenue results have been impacted, and we expect will continue to be impacted, by fluctuations in foreign currency exchange rates. As exchange rates are an important factor in understanding period-to-period comparisons, we present revenue growth rates on a constant currency basis, which helps improve the understanding of our revenue results and our performance in comparison to prior periods. The constant currency information presented is calculated by translating current period results using prior period weighted average foreign currency exchange rates.

In the noted fiscal periods, we also present the following liquidity measures:

Adjusted free cash flow (“AFCF”) and unlevered free cash flow (“Unlevered FCF”) – AFCF is equal to cash flows from operating activities less purchases of property and equipment, plus restructuring payments. Unlevered FCF is AFCF plus tax-effected interest expense on outstanding debt.

In the noted fiscal periods, we also present the following select performance metrics:

Annualized Recurring Revenue (“ARR”) – We disclose ARR as a performance metric to help investors better understand and assess the performance of our business because our mix of revenue generated from recurring sources currently represents the substantial majority of our revenues and is expected to continue in the future. We define ARR as the annualized revenue of all active and contractually binding term-based contracts from all customers at a point in time. ARR includes revenue from maintenance, software upgrade rights, public cloud, and on-premises subscription-based transactions and managed services. ARR mitigates fluctuations in revenue due to seasonality, contract term and the sales mix of subscriptions for term-based licenses and SaaS. We use ARR to understand customer trends and the overall health of our business, helping us to formulate strategic business decisions.
We calculate the annualized value of annual and multi-year contracts, and contracts with terms less than one year, by dividing the total contract value of each contract by the number of months in the term and then multiplying by 12. Annualizing contracts with terms less than one-year results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period. We generally do not sell non-SaaS-based contracts with a term of less than one year unless a customer is purchasing additional licenses under an existing annual or multi-year contract. The expectation is that at the time of renewal, such contracts with a term less than one year will renew with the same term as the existing contracts being renewed, such that both contracts are co-termed. Historically, such contracts with a term of less than one year renew at rates equal to or better than annual or multi-year contracts.

For SaaS-based contracts, there is a meaningful percentage of monthly auto-renewing contracts for which annualizing the contracts results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period.

Revenue from term-based license and on-premises subscription arrangements include a portion of the arrangement consideration that is allocated to the software license that is recognized up-front at the point in time control is transferred under ASC 606 revenue recognition principles. ARR for these arrangements is calculated as described above. The expectation is that the total contract value, inclusive of revenue recognized as software license, will be renewed at the end of the contract term.

The calculation is done at constant currency using the current year budgeted exchange rates for all periods presented.

ARR is not defined in GAAP and is not derived from a GAAP measure. Rather, ARR generally aligns to billings (as opposed to GAAP revenue which aligns to the transfer of control of each performance obligation). ARR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.

Net Retention Rate (“NRR”) – We calculate net retention rate as of a period end by starting with the ARR from the cohort of all customers as of 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net retention rate. Net retention rate is not calculated in accordance with GAAP and is not derived from a GAAP measure.

Note Regarding Forward-Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “intend,” “plan,” “target,” “anticipate” and “continue,” the negative of these words, other terms of similar meaning or the use of future dates. Forward-looking statements in this press release include, but are not limited to, statements regarding Progress’ business outlook (including future acquisition activity) and financial guidance. There are a number of factors that could cause actual results or future events to differ materially from those anticipated by the forward-looking statements, including, without limitation: (i) economic, geopolitical and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price; (ii) our international sales and operations subject us to additional risks that can adversely affect our operating results, including risks relating to foreign currency gains and losses; (iii) we may fail to achieve our financial forecasts due to such factors as delays or size reductions in transactions, fewer large transactions in a particular quarter, fluctuations in currency exchange rates, or a decline in our renewal rates for contracts; (iv) if the security measures for our software, services, other offerings or our internal information technology infrastructure are compromised or subject to a successful cyber-attack, or if our software offerings contain significant coding or configuration errors or zero-day vulnerabilities, we may experience reputational harm, legal claims and financial exposure; and the results of inquiries, investigations and legal claims regarding the MOVEit Vulnerability remain uncertain, while the ultimate resolution of these matters could result in losses that may be material to our financial results for a particular period; and (v) future acquisitions may not be successful or may involve unanticipated costs or other integration issues that could disrupt our existing operations; and (vi) expected synergies and benefits of the ShareFile acquisition may not be realized which could negatively impact our future results of operations and financial condition. For further information regarding risks and uncertainties associated with Progress’ business, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended November 30, 2024. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

The MIL Network –

April 1, 2025

MIL-OSI: Open Lending Reports Fourth Quarter and Full Year 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, March 31, 2025 (GLOBE NEWSWIRE) — Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today reported financial results for its fourth quarter and full year ended December 31, 2024.

In a separate press release today, the Company announced that its Board of Directors (the “Board”) has appointed Jessica Buss, Chairman of the Board, as Chief Executive Officer, effective immediately. The Board has also appointed Michelle Glasl as Chief Operating Officer. Charles Jehl will continue to serve as Interim Chief Financial Officer and as a member of the Board.

Three Months Ended December 31, 2024 Highlights

The Company facilitated 26,065 certified loans during the fourth quarter of 2024, compared to 26,263 certified loans in the fourth quarter of 2023.
Total revenue was $(56.9) million during the fourth quarter of 2024, compared to $14.9 million in the fourth quarter of 2023. The fourth quarter of 2024 was negatively impacted by a $81.3 million reduction in estimated profit share revenues related to business in historic vintages as compared to a $14.3 million reduction in the fourth quarter of 2023.
Gross loss was $63.2 million during the fourth quarter of 2024, compared to gross profit of $9.6 million in the fourth quarter of 2023.
Net loss was $144.4 million during the fourth quarter of 2024, compared to a net loss of $4.8 million in the fourth quarter of 2023. The fourth quarter of 2024 was negatively impacted by the recording of a valuation allowance on our deferred tax assets of $86.1 million, which increased our income tax expense during the period.
Adjusted EBITDA was $(73.1) million during the fourth quarter of 2024, compared to $(2.1) million in the fourth quarter of 2023.

Twelve Months Ended December 31, 2024 Highlights

The Company facilitated 110,652 certified loans during the year ended December 31, 2024, compared to 122,984 certified loans in the prior year.
Total revenue was $24.0 million during the year ended December 31, 2024, compared to $117.5 million in the prior year. The year ended December 31, 2024 was negatively impacted by a $96.1 million reduction in estimated profit share revenues related to business in historic vintages as compared to a $22.8 million reduction in the prior year.
Gross profit was $0.2 million during the year ended December 31, 2024, compared to $95.2 million in the prior year.
Net loss was $135.0 million during the year ended December 31, 2024, compared to net income of $22.1 million in the prior year.
Adjusted EBITDA was $(42.9) million during the year ended December 31, 2024, compared to $50.2 million in the prior year.

Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure is provided in the financial table included at the end of this press release. An explanation of this measure and how it is calculated is also included under the heading “Non-GAAP Financial Measures.”

Fourth Quarter 2024 Impact Related to Profit Share Revenue Change in Estimates
Each quarter, the Company evaluates and updates its profit share revenue forecast and makes adjustments to its profit share revenue and related contract assets accordingly. Following this evaluation, for the fourth quarter of 2024, adjustments attributable to the Company’s profit share revenue forecast resulted in a negative change in estimate of $81.3 million, primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.

As discussed below, three factors primarily contributed to this reduction of estimated profit share.

First, there was continued deterioration of the Company’s 2021 and 2022 vintages. These certified loans were generated when used car values reached an all-time high in late 2021, driven by pandemic-related disruptions in the supply chain. The subsequent decline in used car values has increased the likelihood of default on vehicles that are now worth significantly less than their corresponding outstanding loan balances. Adjustments to the forecasted performance of the Company’s 2021 and 2022 vintages accounted for approximately 40% of the Company’s total negative change in estimate for the fourth quarter of 2024.

Second, continued elevated delinquencies and ultimate defaults as a result of broader macroeconomic conditions accounted for approximately 20% of the Company’s total negative change in estimate for the fourth quarter of 2024.

Finally, the Company identified two cohorts of borrowers, borrowers with credit builder tradelines and borrowers with fewer positive tradelines, that caused its 2023 and 2024 vintages to underperform. Adjustments to the forecasted performance of loans to these two cohorts of borrowers accounted for approximately 40% of the Company’s total negative change in estimate for the fourth quarter of 2024.

As a result of the profit share change in estimate adjustment, for the fourth quarter of 2024, the Company reduced its contract assets by $33.7 million and recorded an excess profit share receipts liability of $47.6 million, attributable to the change in its expected profit share revenue. Any future adjustments to the Company’s profit share revenue forecasts, positive or negative, will impact profit share revenue.

First Quarter 2025 Outlook
For the first quarter of 2025, the Company currently expects total certified loans to be between 27,000 and 28,000.

The guidance provided includes forward-looking statements within the meaning of U.S. securities laws. See “Forward-Looking Statements” below.

Board Changes
Jessica Buss will continue to serve as Chairman of the Board but will no longer be a member of the nominating and corporate governance and audit committees of the Board. Thomas Hegge will join the audit committee effective immediately.

Conference Call
Open Lending will host a conference call to discuss the fourth quarter and full year 2024 financial results tomorrow, April 1, 2025, at 8:00 am ET. The conference call will be webcast live from the Company’s investor relations website at https://investors.openlending.com/ under the “Events” section. The conference call can also be accessed live over the phone by dialing (877) 407-4018, or for international callers (201) 689-8471; the conference ID is 13752724. An archive of the webcast will be available at the same location on the website shortly after the call has concluded.

About Open Lending
Open Lending (Nasdaq: LPRO) provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements related to market trends, consumer behavior and demand for automotive loans, as well as future financial performance under the heading “First Quarter 2025 Outlook” above. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the Company’s control. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, market, political and business conditions; applicable taxes, inflation, tariffs, supply chain disruptions including global hostilities and responses thereto, interest rates and the regulatory environment; the outcome of judicial proceedings to which Open Lending may become a party; and other risks discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Non-GAAP Financial Measures
The non-GAAP financial measures included in this press release are financial information that has not been prepared in accordance with GAAP. The Company uses Adjusted EBITDA and Adjusted EBITDA margin internally in analyzing our financial results and believes these measures are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. The Company believes that the use of non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.

The Company believes these measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors. In addition, these measures provide useful measures for period-to-period comparisons of our business, as they remove the effect of certain non-cash items and certain non-recurring variable charges. Adjusted EBITDA is defined as GAAP net income (loss) excluding interest expense, income tax expense, depreciation and amortization expense, and share-based compensation expense. Adjusted EBITDA margin is defined as Adjusted EBITDA expressed as a percentage of total revenue.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measure provided in the financial statement tables included below in this press release.

Investor Relations Contact:
InvestorRelations@openlending.com


OPEN LENDING CORPORATION Consolidated Balance Sheets (Unaudited, in thousands, except share data)

	December 31, 2024			December 31, 2023
Assets
Current assets
Cash and cash equivalents	$	243,164		$	240,206
Restricted cash		10,760			6,463
Accounts receivable, net		5,055			4,616
Current contract assets, net		9,973			28,704
Income tax receivable		3,558			7,035
Other current assets		3,215			2,852
Total current assets		275,725			289,876
Property and equipment, net		729			826
Capitalized software development costs, net		5,386			3,087
Operating lease right-of-use assets, net		3,878			3,990
Contract assets		5,094			610
Deferred tax asset, net		—			70,113
Other assets		5,556			5,535
Total assets	$	296,368		$	374,037
Liabilities and stockholders’ equity
Current liabilities
Accounts payable	$	953		$	375
Accrued expenses		5,166			8,131
Current portion of debt		7,500			4,688
Third-party claims administration liability		10,797			6,464
Current portion of excess profit share receipts		19,346			—
Other current liabilities		3,490			932
Total current liabilities		47,252			20,590
Long-term debt, net of deferred financing costs		132,217			139,357
Operating lease liabilities		3,273			3,450
Excess profit share receipts		28,210			—
Other liabilities		7,329			5,060
Total liabilities		218,281			168,457
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized and none issued and outstanding		—			—
Common stock, $0.01 par value; 550,000,000 shares authorized, 128,198,185 shares issued and 119,350,001 shares outstanding as of December 31, 2024 and 128,198,185 shares issued and 118,819,795 shares outstanding as of December 31, 2023		1,282			1,282
Additional paid-in capital		502,664			502,032
Accumulated deficit		(328,759	)		(193,749	)
Treasury stock at cost, 8,848,184 shares at December 31, 2024 and 9,378,390 at December 31, 2023		(97,100	)		(103,985	)
Total stockholders’ equity	$	78,087		$	205,580
Total liabilities and stockholders’ equity	$	296,368		$	374,037


OPEN LENDING CORPORATION Consolidated Statements of Operations (Unaudited, in thousands, except share data)

	Three Months Ended December 31,						Year Ended December 31,
		2024			2023			2024			2023
Revenue
Program fees	$	13,734		$	13,482		$	57,040		$	64,092
Profit share		(73,160	)		(1,132	)		(43,123	)		43,301
Claims administration and other service fees		2,502			2,589			10,107			10,067
Total revenue		(56,924	)		14,939			24,024			117,460
Cost of services		6,265			5,365			23,855			22,282
Gross profit (loss)		(63,189	)		9,574			169			95,178
Operating expenses
General and administrative		10,549			12,002			43,867			43,043
Selling and marketing		3,958			4,349			17,218			17,485
Research and development		861			1,500			4,462			5,575
Total operating expenses		15,368			17,851			65,547			66,103
Operating income (loss)		(78,557	)		(8,277	)		(65,378	)		29,075
Interest expense		(2,849	)		(2,820	)		(11,317	)		(10,661	)
Interest income		2,812			3,018			12,090			10,335
Other income (expense), net		—			118			—			109
Income (loss) before income taxes		(78,594	)		(7,961	)		(64,605	)		28,858
Income tax expense (benefit)		65,842			(3,119	)		70,405			6,788
Net income (loss)	$	(144,436	)	$	(4,842	)	$	(135,010	)	$	22,070
Net income (loss) per common share
Basic	$	(1.21	)	$	(0.04	)	$	(1.13	)	$	0.18
Diluted	$	(1.21	)	$	(0.04	)	$	(1.13	)	$	0.18
Weighted average common shares outstanding
Basic		119,331,553			119,366,013			119,179,766			120,826,644
Diluted		119,331,553			119,366,013			119,179,766			121,474,880


OPEN LENDING CORPORATION Consolidated Statements of Cash Flows (Unaudited, in thousands)

	Year Ended December 31,
		2024			2023
Cash flows from operating activities
Net income (loss)	$	(135,010	)	$	22,070
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share-based compensation		8,677			9,492
Depreciation and amortization		1,674			1,159
Amortization of debt issuance costs		427			428
Non-cash operating lease cost		705			620
Deferred income taxes		70,113			(4,985	)
Other		127			15
Changes in assets & liabilities:
Accounts receivable, net		(439	)		1,105
Contract assets, net		14,247			46,116
Excess profit share receipts		47,556			—
Other current and non-current assets		(429	)		(507	)
Accounts payable		578			86
Accrued expenses		(2,473	)		1,183
Income tax receivable, net		4,198			2,699
Operating lease liabilities		(624	)		(561	)
Third-party claims administration liability		4,333			2,409
Other current and non-current liabilities		3,938			1,329
Net cash provided by operating activities		17,598			82,658
Cash flows from investing activities
Purchase of property and equipment		(165	)		(123	)
Capitalized software development costs		(3,731	)		(2,055	)
Net cash used in investing activities		(3,896	)		(2,178	)
Cash flows from financing activities
Payments on term loans		(4,688	)		(3,750	)
Payment of excise tax on shares repurchased		(314	)		—
Shares repurchased		—			(37,322	)
Shares withheld for taxes related to restricted stock units		(1,445	)		(1,258	)
Net cash used in financing activities		(6,447	)		(42,330	)
Net change in cash and cash equivalents and restricted cash		7,255			38,150
Cash and cash equivalents and restricted cash at the beginning of the period		246,669			208,519
Cash and cash equivalents and restricted cash at the end of the period	$	253,924		$	246,669
Supplemental disclosure of cash flow information:
Interest paid	$	12,590		$	10,313
Income tax paid (refunded), net		(3,907	)		9,075
Non-cash investing and financing:
Right-of-use assets obtained in exchange for lease obligations	$	594		$	—
Share-based compensation for capitalized software development		285			88
Capitalized software development costs accrued but not paid		15			248
Accrued excise tax associated with share repurchases		—			314


OPEN LENDING CORPORATION Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited, in thousands)

	Three Months Ended December 31,						Year Ended December 31,
		2024			2023			2024			2023
Net income (loss)	$	(144,436	)	$	(4,842	)	$	(135,010	)	$	22,070
Non-GAAP adjustments:
Interest expense		2,849			2,820			11,317			10,661
Income tax expense (benefit)		65,842			(3,119	)		70,405			6,788
Depreciation and amortization expense		393			335			1,674			1,159
Share-based compensation		2,269			2,666			8,677			9,492
Total adjustments		71,353			2,702			92,073			28,100
Adjusted EBITDA	$	(73,083	)	$	(2,140	)	$	(42,937	)	$	50,170
Total revenue	$	(56,924	)	$	14,939		$	24,024		$	117,460
Adjusted EBITDA margin		128	%	(14		)%	(179		)%		43	%

The MIL Network –

April 1, 2025

MIL-OSI USA: S. 28, Informing Consumers about Smart Devices Act

Source: US Congressional Budget Office

S. 28 would require manufacturers of Internet-connected devices to disclose to consumers whether such devices have microphones or cameras. The bill would direct the Federal Trade Commission (FTC) to establish guidance for manufacturers to follow when notifying consumers and to enforce any violations of the bill’s requirements.

Using information from the FTC and the cost of similar requirements, CBO expects that the FTC would need three employees to issue guidance in 2026 and four employees in each year from 2027 through 2030 to enforce the bill’s requirements. CBO estimates that the average cost for salaries and benefits for an FTC employee would be $240,000 in 2025. After accounting for anticipated inflation, CBO estimates that implementing S. 28 would cost $4 million over the 2025-2030 period; any related spending would be subject to the availability of appropriated funds.

The bill would authorize the FTC to collect civil monetary penalties from businesses found in violation of the bill, along with pursuing other remedies. Civil monetary penalties are generally remitted to the Treasury and recorded as revenues. However, CBO estimates that the additional revenues collected over the next decade would be insignificant. The extent to which business would violate the new rules after they go into effect is uncertain.

Furthermore, if a business does violate the new rules and the FTC chooses to proceed with an enforcement action, the extent to which the agency pursues civil penalties versus other remedies is also uncertain, as is the amount of time it would take to resolve a case.

S. 28 would impose a private-sector mandate as defined in the Unfunded Mandates Reform Act (UMRA) by requiring manufacturers of Internet-connected devices to disclose to the consumer if a component of the device includes a microphone or camera. According to industry sources, most manufacturers already disclose such information on the device’s exterior packaging or other forms of advertising. Therefore, CBO estimates that the cost for manufacturers to comply with the bill would not exceed the annual threshold established in UMRA ($203 million in 2025, adjusted annually for inflation).

S. 28 contains no intergovernmental mandates as defined in UMRA.

The CBO staff contacts for this estimate are Margot Berman (for the FTC) and Rachel Austin (for mandates). The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

April 1, 2025
MIL-OSI Global: How to talk with children about Canada-U.S. tensions

Source: The Conversation – Canada – By Jean-François Bureau, Professor, School of Psychology, L’Université d’Ottawa/University of Ottawa

Mainstream public discourse in the first months of 2025 have been dominated by tensions between Canada and United States. These include references to Canada becoming annexed as the 51st American state and the trade war, with threats and the application of tariffs by the U.S. and counter-tariffs by Canada.

While this political climate brings uncertainty at an international level, it comes with fear of job loss for many Canadians at a time when the cost of living is already straining many families’ finances.

Read more:
Canadians are feeling increasingly powerless amid economic struggles and rising inequality

These topics may appear to be concerns for adults, but children may also feel the effects. As psychology researchers studying parent-child relationships and child mental health, we believe it is important to consider children’s potential fears and anxiety in the current political climate.

Here, we explain why it’s important to address this topic with children, and how parents can do so in a reassuring and informative manner.

Children’s concerns and emotions

While the economy and politics could seem like topics that children would not really care about, recent research suggests that many children and youth actually worry about these topics.

Back in 2020, American parents of children aged six to 17 years old were asked to rate their child’s anxiety about political news, in terms of voting issues covered in media since the 2016 election. According to the study by psychology researcher Nicole E. Caporino and colleagues, 36 per cent of children worried about the U.S. getting into war, and 37 per cent worried about their family’s finances.

Studies suggest children worry about issues affecting their families.
(Shutterstock)

Similarly, studies elsewhere suggest children and youth worry about issues affecting their families. Based on these numbers, we can assume that many Canadian children also worry about the current Canada-U.S. political climate.

Of course, it’s worth remembering not all families experience political and economic events in the same way. For example, children whose families face economic precarity are likely already living with stressors affecting their households like unemployment or food insecurity. Current tensions may also exacerbate children’s existing concerns.

Given that children may be concerned and worried, some parents may intuitively seek to avoid the topic with children to avoid provoking more distress. However, discussing a stressful event can actually decrease the distress felt towards it.

When children are able to talk about what concerns them with their parents, they learn important emotional regulation and coping skills. For example, they learn how to identify and understand their emotions, and how to regulate those emotions. Discussions between parents and children also help foster a climate of trust, in which children feel like they can rely on their parents in moments of need.

Noticing, tackling children’s anxiety and fears

Children may not always have the words to articulate their concerns in the same way that adults do. Parents should watch for anxiety symptoms in their children, which may manifest in various ways, including having mood changes, being more irritable or sad, having difficulty sleeping, being more clingy than usual, or withdrawing from activities. There are also signs that may be harder to spot.

We present five ways to address the situation with your children:

1. Use direct questions to understand how children feel. Direct questions can help understand how children feel. For example, you may ask: “What have you heard about what’s happening?” or “How do you feel about it?” These questions can help understand what specifically is scary to them.

Children could be worried about no longer seeing family in the U.S., or some may even fear a military clash.
(Shutterstock)

This is especially important given that children tend to worry about different things than adults. For example, younger children with family in the U.S. may worry they will no longer be able to see their family members anymore. Older children may be worried about a parent losing a job, the country’s economic instability or environmental impacts. Some children may even fear a military clash.

2. Be sensitive to how the conflict is presented. In the media, it is common to refer to the diplomatic and economic tensions as a “trade war.” While adults understand that trade wars do not involve military attacks, this concept is much more abstract for children.

Hearing the word “war” may trigger difficult images for them, including armed soldiers, weapons and devastation. This is especially true for children with lived experience of war, political conflict or displacement.

Read more:
Coronavirus isn’t the end of ‘childhood innocence,’ but an opportunity to rethink children’s rights

It’s important to reframe the conflict in ways that children can understand. For example, parents can compare the conflict between two children. Parents might say: “You know when there are two children upset with each other at school, and they have a big disagreement. Sometimes it can take a lot of time to find a solution that works for everyone. The conflict between Canada and the U.S. is a bit like that. It could take a lot of time and trouble to find a solution.”

3. Avoid misinformation. When discussing these topics, parents should seek to clarify any misinformation and provide reassurance. They should also help ensure children receive information from credible sources rather than social media or peers, who may sensationalize or misinterpret events. Providing factual but age-appropriate explanations is a key ingredient in mitigating fear and uncertainty.

4. Focus on co-operation and opportunities instead of boycotting.

Many Canadian families are choosing to boycott American products. In order to ease the emotional burden on children, it can be helpful to reframe the boycott as an opportunity for co-operation. For instance, parents can highlight how they are trying to support local businesses.

Similarly, for families with resources to travel, changes in travel plans can be framed as a way to discover new places. A parent might frame it as: “This year, instead of going to the beach, we’re going to be exploring some incredible places closer to home. We’re going to have so much fun trying new things!” This approach creates curiosity and control, not anxiety. It can also be beneficial for children’s development to learn to be more flexible with change.

Read more:
When Canadian snowbirds don’t flock south, the costs are more than financial

5. Create a sense of normalcy and routine. As important as it is to validate children’s fears, it is equally important to help them maintain a sense of normalcy. Families should strive to balance discussions about the trade war and its potential ramifications with more light, mundane topics. Similarly, limiting the time that children watch the news or when it is audible can help limit further concerns from developing.

Routines are also beneficial for children’s development and well-being. Maintaining a predictable schedule, such as a bedtime routine, can help children feel safe and less anxious. Focus on adding fun and soothing activities to the daily routine. This lets children know life goes on.

Navigating turbulent times

As the trade war with the U.S. plays out, parents should consider how it may impact their children’s emotions and sense of safety. Even serious conflicts such as this one don’t last forever, and solutions will come.

In the meantime, parents can help children cope with these challenging times by offering age-appropriate explanations and encouraging resilience.

Jean-François Bureau receives funding from the Social Sciences and Humanities Research Council of Canada, the Canadian Institutes of Health Research, and the Consortium National de Formation en Santé.

Audrey-Ann Deneault receives funding from the Social Sciences and Humanities Research Council of Canada, the Canadian Institutes of Health Research, and the Centre de recherche universitaire sur les jeunes et les familles.

– ref. How to talk with children about Canada-U.S. tensions – https://theconversation.com/how-to-talk-with-children-about-canada-u-s-tensions-252435

MIL OSI – Global Reports –

April 1, 2025
MIL-OSI USA: Reps. Cammack & Magaziner, Sens. Capito & Markey Introduce Alleviating Barriers To Caregivers Act (ABC Act)

Source: United States House of Representatives – Congresswoman Kat Cammack (R-FL-03)

WASHINGTON, D.C. — Today, Rep. Kat Cammack (R-FL-03), Rep. Seth Magaziner (D-RI-02), Senator Shelley Moore Capitol (R-WV), and Senator Ed Markey (D-Mass.) introduced the Alleviating Barriers to Caregivers Act (ABC Act). The legislation would require the Centers for Medicare and Medicaid Services (CMS), Social Security Administration (SSA), and Children’s Health Insurance Program (CHIP) to review their eligibility, processes, procedures, forms, and communications to reduce the administrative burden on family caregivers. The legislation would then require CMS, SSA, and CHIP to report to Congress after two years about any issues they are facing and any next steps they are taking to support family caregivers.

Family caregivers serve as a primary source of support for seniors and people with disabilities of all ages. In the United States alone, there are more than 48 million family caregivers. More than half of family caregivers act as an advocate for their loved one with care providers, community services, or government agencies. However, one in four family caregivers say they want help with forms, paperwork, and eligibility for services. Many report competing responsibilities while experiencing serious emotional, physical, and finance challenges.

“America’s family caregivers work around-the-clock to provide essential care for their loved ones, and over half act as advocates on behalf of their family members. The last thing these caregivers need is more red tape that distracts from their support for those in their care,” said Representative Cammack. “I’m honored to introduce this bipartisan and bicameral ABC Act with my colleagues to lower the burden around the important medical decisions caregivers must make every day. Together we can support the 48 million caregivers that make up a critical part of our health care landscape in the U.S.”

“Family caregivers have a lot on their plates, devoting their lives to support others,” said Representative Magaziner. “They shouldn’t have to struggle with confusing paperwork and delays on top of their essential work. The bipartisan ABC Act will make it easier for families to get the support they need so caregivers can focus on what matters most — caring for their loved ones.”

“More than 1 in 4 Americans over 50 are now caregivers. I was one of these caregivers for my parents during their struggle with Alzheimer’s disease and know personally how hard it can be to balance all of the responsibilities put on individuals caring for their loved ones,” Senator Capito said. “One of the most common frustrations I hear from caregivers in West Virginia is how difficult it is to navigate federal processes and procedures. The Alleviating Barriers for Caregivers Act would attempt to ease this often-stressful time by requiring federal agencies, such as the Centers for Medicare and Medicaid Services and Social Security Administration, to review their processes, procedures, forms, and communications to reduce the administrative burden on family caregivers.”

“Caregivers, like my father was, serve on the frontlines of our nation’s health care system by giving our families and friends the care and support they need to remain in their homes and communities with their loved ones,” said Senator Markey. “But caregivers are struggling needlessly to navigate complex, burdensome, and stressful processes each and every day while also still managing day-to-day family and professional responsibilities. The Alleviating Barriers for Caregivers Act will help lift the weight off caregivers by clearing the red tape that so often gets in their way. I thank Senator Capito and Representatives Magaziner and Cammack for their partnership on this critical legislation.”

Cosponsors in the Senate include John Hickenlooper (D-Colo.), Cindy Hyde-Smith (R-Miss.), Richard Blumenthal (D-Conn.), Thom Tillis (R-N.C.), Amy Klobuchar (D-Minn.), Rick Scott (R-Fla.), Tammy Baldwin (D-Wis.), Cynthia Lummis (R-Wyo.), Mark Kelly (D-Ariz.), Katie Britt (R-Ala.), Mazie Hirono (D-Hawai’i), Mike Rounds (R-S.Dak.), Sheldon Whitehouse (D-RI), Bill Cassidy (R-La.), Chris Coons (D-DE), and Eric Schmitt (R-Mo.).

Cosponsors in the House include Jimmy Panetta (D-CA-19), Jeff Van Drew (R-NJ-02), Steve Cohen (D-TN-09), Nick Langworthy (R-NY-23), Sharice Davids (D-KS-03), Rob Wittman (R-VA-01), Josh Gottheimer (D-NJ-05), Jen Kiggans (R-VA-02), Jared Golden (D-ME-02), Greg Steube (R-FL-17), Deborah Ross (D-NC-02), August Pfluger (R-TX-11), Ed Case (D-HI-01), Nicole Malliotakis (R-NY-11), Debbie Wasserman Schultz (D-FL-25), Mike Lawler (R-NY-17), Darren Soto (D-FL-09), and Vern Buchanan (R-FL-16).

The ABC Act is endorsed by: AARP, ADA Watch/Coalition for Disability Rights & Justice, Aging Life Care Association, Alliance for Aging Research, Alliance for Retired Americans, Allies for Independence, ALS Association, Alzheimer’s Foundation of America, American Academy of Nursing, American Association on Health and Disability, American Heart Association, American Network of Community Organizations and Resources (ANCOR), American Psychological Association Services, American Society for Transportation and Cellular Therapy, American Society on Aging, Association for Frontotemporal Degeneration, Association of University Centers on Disabilities, Autism Society of America, Autism Speaks, Caregiver Action Network, Caring Across Generations, Child Neurology Foundation, Christopher & Dana Reeve Foundation, Davis Phinney Foundation for Parkinson’s, Disability Rights Education and Defense Fund (DREDF), Diverse Elders Coalition, Elder Services of Berkshire County Inc., Elizabeth Dole Foundation, Family Caregiver Alliance, National Center on Caregiving, Fight Colorectal Cancer, Gerontological Society of America, Grayce, Greater Lynn Senior Services, Hispanic Federation, Huntington’s Disease Society of America, Japanese American Citizens League, Justice in Aging, Lakeshore Foundation, LeadingAge, LifePath, Lymphoma Research Foundation, Massachusetts Councils on Aging, Medical Alley, Mystic Valley Elder Services, National Academy of Elder Law Attorneys, National Adult Day Services Association, National Alliance on Caregiving, National Asian Pacific Center on Aging (NAPCA), National Association of Councils on Developmental Disabilities, National Council on Aging, National Committee to Preserve Social Security and Medicare, National Disability Rights Network, National Down Syndrome Congress, National Federation of Filipino American Associations, National Fragile X Foundation, National Health Council, National Partnership for Healthcare and Hospice Innovation, National Patient Advocate Foundation, National Respite Coalition, NMDP, OCA- Asian Pacific American Advocates, Paralyzed Veterans of America, Rosalynn Carter Institute for Caregivers, Senior Connection, Somerville-Cambridge Elder Services, Southeast Asian Resource Action Center (SEARAC), Speak Foundation, the Arc of the United States, The ERISA Industry Committee, The Michael J. Fox Foundation for Parkinson’s Research, Third Way, USAging, Village to Village Network, and Well Spouse Association.

Read the text of the bill here.

###

MIL OSI USA News –

April 1, 2025
MIL-OSI USA: Baldwin Leads Colleagues in Laying Out Worker-First American Trade Policy
US Senate News:
Source: United States Senator for Wisconsin Tammy Baldwin

WASHINGTON, D.C. – As the Trump Administration plans to reshape the nation’s trade policy, U.S. Senator Tammy Baldwin (D-WI) is leading her Midwest colleagues, U.S. Senators Gary Peters (D-MI) and Elissa Slotkin (D-MI), in laying out a vision to prioritize American workers in trade policy, re-establish the United States as a world leader in manufacturing, and strengthen national security. Senator Baldwin has long worked against trade deals that undermine American workers, including opposing the North American Free Trade Agreement (NAFTA), Permanent Normal Trade Relations (PNTR) with China, and other deals that are a race to the bottom. Since 2001, flawed trade policies have contributed to the loss of 4.3 million manufacturing jobs in the U.S.

“For too long, the deck has been stacked against workers and has benefited trade cheats like China and the corporate fat cats in board rooms. Workers are the ones who make our economy go around and they are the ones we need to prioritize. Right now, we have a real opportunity to level the playing field for American workers and crack down on trade cheats, grow our Made in America economy, and ensure workers get the pay they deserve to live a good, middle-class life,” said Senator Baldwin.

“We need trade policies that provide a level playing field for American workers to compete and succeed,” said Senator Peters. “For far too long, American businesses and workers have paid the price of a trade landscape that benefits countries like China who blatantly cheat the system and undercut our businesses without being held accountable. Now is the time to take a real, comprehensive look at our trade policies to ensure we are putting American workers first and preventing good-paying jobs from being shipped overseas.”

“For 30 years we’ve been outsourcing our supply chains way too far, and too many Michigan workers have suffered because of it,” said Senator Slotkin. “Democrats, especially in the Midwest, need a vision for a 21st century trade policy. To me, that strategy isn’t rocket science. It should strengthen the Middle Class and protect American manufacturing and jobs, provide certainty for American businesses and farmers, and recognize that the U.S. has powerful economic levers to wield against our adversaries.”

In the letter to President Trump, Baldwin and her colleagues outline the details of a trade agenda that would center workers, stand up to trade cheats like China, and grow the American manufacturing sector, including:
- Advocating for a Complete Reimagining of Relationship with People’s Republic of China (PRC): The plan calls for revising our trade relationship with China. By allowing China to join the World Trade Organization, the United States opted to treat China like a market economy. China’s non-market practices, rampant abuses of labor and human rights, and government-sponsored trade cheating call for a complete rethinking of our economic relationship, including Permanent Normal Trade Relations.
- Review & Revise Free Trade Agreements: Baldwin calls for reviewing and revising each of the United States’ 14 free trade agreements with 20 countries, including the United States-Mexico-Canada Agreement (USMCA), to ensure the best outcomes for American workers.
- Strengthen Trade Enforcement Mechanisms: Baldwin looks to strengthen trade enforcement mechanisms to curb cheating and manipulation by foreign countries. Baldwin identifies bipartisan legislation, such as the Leveling the Playing Field 2.0 Act to strengthen trade remedies, Fighting Trade Cheats Act to empower private companies to hold bad actors accountable, and efforts that can be addressed by executive action, like closing the de minimis loophole, which results in lost tariff revenue and the importing of counterfeit products and contraband drugs like fentanyl.
- Support for Workers Who Lost Jobs Due to Short-Sighted Policies of the Past: Baldwin also calls for the strengthening and reauthorization of the Trade Adjustment Assistance (TAA) to provide critical support for American workers who lose their jobs due to the short-sighted policies of the past, so those workers can access job training benefits and quickly return to the workforce.
Full text of the letter can be found here and below.

Dear Mr. President:

Your Administration has announced that it is undertaking a comprehensive review of our nation’s trade policy, an action that is welcome and long overdue. Free trade and globalization have left us with offshored manufacturing, devastated communities, workers out of a job or in jobs with lower wages, and supply chains overly dependent on our adversaries in too many areas. Our states have suffered disproportionately, and we write to share policy solutions informed by that experience and to urge you to implement a pro-American worker trade policy.

The current global and domestic economic landscape is the result of deliberate policy choices. Now is the time to break the cycle and boldly set a new standard for how we design, implement, monitor and enforce our trade policies. Presidents of both parties have failed Americans on trade policy, and Congress has validated their mistakes—often, in close votes. Misguided decisions like granting Permanent Normal Trade Relations (PNTR), which paved the way for China’s accession into the World Trade Organization (WTO), along with the passage of NAFTA and CAFTA, as well as support of the Trans Pacific Partnership, are part of a misguided narrative that free trade and liberalization would improve economic growth and living standards, which for many communities has proven false. Since 2001, flawed trade policies have contributed to the loss of 4.3 million manufacturing jobs here in the U.S. We have fought for a pro-American worker trade policy, and would strongly support reforms that are reasoned, strategic, and durable. Our goal should be a combined pro-U.S. worker trade agenda and proactive industrial policy and strategic use of tariffs that secures supply chains, revitalizes communities, creates good-paying, union jobs and re-establishes the United States as a leader in world manufacturing.

First and foremost, we must drastically revise our trade relationship with the People’s Republic of China (PRC). By allowing China to join the WTO, the United States opted to treat the PRC like a market economy. Proponents claimed this would bring market reforms. That has proven a naïve and misguided approach. China still embraces a state-directed approach to trade and targets entire sectors and industries for global domination. China’s non-market practices, rampant abuses of labor and human rights, and government-sponsored trade cheating call for a complete rethinking of our economic relationship, including PNTR.

Each of the United States’ 14 free trade agreements with 20 countries, including the United States-Mexico-Canada Agreement (USMCA), must be reviewed and revised where necessary, in order to ensure the best outcomes for American workers. While your Administration oversaw the negotiations of the USMCA, which contained the strongest labor standards of any free trade agreement thus far, there are urgent issues to be addressed during the upcoming review. The PRC has increasingly located facilities in Mexico to take advantage of proximity to the United States and preferential treatment of goods under USMCA. It has also failed to fundamentally change a core challenge facing American workers: the continued offshoring of good manufacturing jobs because of wage suppression, union busting and weak regulations in Mexico. There are long-standing challenges to the U.S. economy that USMCA’s dispute mechanism has failed to address, such as Canada’s treatment of the United States dairy sector. Separate from USMCA, the United States is part of agreements about government procurement, through the WTO or negotiated separately, that result in a losing deal for Americans. All such agreements must be thoroughly reviewed and recalibrated to level the playing field.

The ultimate goal of our trade enforcement mechanisms should not be to react to injury, it must be to deter and prevent cheating in the first place. Foreign entities will continue to transship, evade trade remedies, and create new ways to cheat and take advantage of the United States, and stopping problems as they come up in a “whack-a-mole” fashion is a reactive strategy. Strengthening trade enforcement mechanisms will curb cheating and manipulation by foreign countries. There are substantive bipartisan efforts in this area, such as the Leveling the Playing Field 2.0 Act to strengthen trade remedies and the Fighting Trade Cheats Act to empower private companies to hold bad actors accountable. Furthermore, there are some bipartisan efforts that can be addressed by executive action, like closing the de minimis loophole, which your Administration acknowledges results in lost tariff revenue and the importation of counterfeit products and contraband drugs like fentanyl. The loophole also puts American manufacturers and retailers at a disadvantage. In addition, critical support for American workers who lose their jobs due to the short-sighted policies of the past, such as Trade Adjustment Assistance (TAA), must be reauthorized and strengthened as we try to right the ship on trade policy, to allow those workers to access job training benefits and quickly return to the workforce.

Tariffs are important tools for leveling the playing field when they are enacted in a strategic, deliberate, and durable way, but it can take months and years for supply chains to adjust. The positive impact of tariffs and trade policy must be bolstered by a robust industrial policy to create and sustain good-paying jobs with efforts such as investments, Buy America requirements, tax incentives, and other programs like those included in Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act. To be successful, we must also keep corporations in check with equitable tax rates and strong antitrust laws to prevent price gouging. Critically, we must empower workers to join unions and earn fair wages to support a middle class lifestyle and be able to save for a safe and secure retirement.

Lastly, we want to emphasize this proposal is critical to workers and communities in our states, as well as to our national security and emergency preparedness. Re-evaluating American trade policy and securing supply chains will strengthen our national security and better position the United States to defend itself if faced with conflict. During World War II, United States automakers shifted from producing civilian passenger vehicles to producing military equipment and weapons like tanks, engines, and aircraft. More recently, global events like the COVID-19 pandemic and the Russian invasion of Ukraine exposed the risks of our fragile supply chains. Now is the time to learn from these lessons and prioritize a trade policy that puts American workers first.

Thank you for your consideration of this most important issue.

Sincerely,
MIL OSI USA News –
April 1, 2025
MIL-OSI United Kingdom: Landmark summit agrees new measures against organised immigration crime
Source: United Kingdom – Executive Government & Departments

News story

Landmark summit agrees new measures against organised immigration crime

The Prime Minister and Home Secretary gathered leaders from across the world in London today (31 March) to tackle organised immigration crime.
The purpose of the Organised Immigration Crime Summit is to agree new action to tackle organised immigration crime (OIC) and boost border security.

Discussions at day 1 of the summit included:

tackling the supply chains and enablers of OIC

the role of criminal finances in facilitating OIC

the UK’s systems based approach to border security

as well as how countries can tackle organised crime groups’ operations online in relation to the advertising, promoting and facilitating of illegal immigration services.

The UK and allies including France, Iraq, Vietnam and the USA, and partners including the National Crime Agency (NCA) and representatives from social media organisations, met to agree actions to secure our collective borders, protect vulnerable people from exploitation, and tackle the global threat of organised immigration crime.

Unlike previous summits, this event engaged both European nations and key source and transit countries, as well as those that are integral to the supply of equipment, including small boats and engines, ensuring a broader, more comprehensive approach to tackling OIC.

Concrete outcomes have been agreed across Europe, Asia, Middle East, Africa, and North America to strengthen international partnerships to disrupt OIC networks. This also includes new joint work with France to tackle irregular migration in source and transit countries, through community outreach and bolstering false document detection capabilities to Iraqi officials.

The agreement represents a key step forward in the government’s Plan for Change to deliver on working people’s priorities to restore order to the immigration system and comes after the publication of new figures showing more than 24,000 people with no right to be here have been returned since the election – the highest rate of returns in 8 years.

A communiqué was issued that sets out how we will deepen our collaboration internationally to tackle this vile crime.

Home Secretary Yvette Cooper said:

Organised immigration crime undermines our security and puts lives at risk. The criminal networks have spread across the globe and no single country can tackle this problem alone.

Today, at the Organised Immigration Crime Summit, the UK has led the way forward by securing international commitments to disrupt and pursue this vile criminal trade in people – part of our Plan for Change to strengthen our borders and keep communities safe.

Border Security Commander Martin Hewitt said:

I have said since I came into my post as Border Security Commander that organised immigration crime requires a coordinated international response to effectively dismantle criminal networks.

In my role I have seen first-hand how the cruelty and greed of criminal gangs puts the lives of the most vulnerable at risk in dangerous small boat crossings all for financial gain.

This summit marks a step change in the international community’s approach to tackling the problem, presenting a critical opportunity to strengthen global cooperation, disrupt criminal networks, and prevent further loss of life.

Director General of the National Crime Agency (NCA) Graeme Biggar said:

Criminal gangs are using sophisticated online tactics, the abuse of legitimate goods and services, and illicit financial networks to facilitate dangerous and illegal journeys which put thousands of lives at risk each year and undermine border security.

Today’s summit sets out international agreements to tackle an international problem.

International intelligence sharing and cooperation is absolutely crucial to track criminal activity across borders allowing us to put a stop to these dangerous criminals.

In addition, today the Home Secretary confirmed over £30 million in funding within the Border Security Command to tackle Organised Immigration Criminal Networks. This significant funding package will be spent on key security projects across Europe, the Western Balkans, Asia and Africa, designed to strengthen border security and combat international criminal smuggling gangs.

The Home Secretary also announced joint work with France to fund an additional grassroots engagement programme to educate local communities on the dangers of irregular migration and people smuggling gangs, raising awareness of the realities and difficulties with travelling to Northern France to cross the Channel to the UK.

This will target both potential irregular migrants and, for the first time, teachers, religious leaders, and family members within vulnerable communities, and builds on the Home Office digital deterrence comms campaign that is already running in the Kurdistan Region of Iraq.

The UK will also collaborate with France to deliver critical training to Iraqi officials and commercial transport staff, helping them detect fraudulent documents and passports used to facilitate irregular migration and OIC activities.

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Published 31 March 2025
MIL OSI United Kingdom –
April 1, 2025
MIL-OSI USA: Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program

Source: US State of North Carolina

Headline: Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program

Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program
lsaito
Mon, 03/31/2025 – 14:49

Raleigh, NC

Governor Josh Stein and North Carolina Department of Commerce Secretary Lee Lilley are encouraging North Carolina employers to hire veterans and to apply for recognition with a HIRE Vets Medallion Award, an official program of the U.S. Department of Labor.

The application period runs through April 30, 2025.

“North Carolina is home to approximately 700,000 veterans, who bring great skills and experience to our state’s workforce,” said Governor Stein. “The HIRE Vets program recognizes companies for their support for our nation’s heroes, cementing North Carolina’s position as the most military-friendly state.”

HIRE Vets medallions are the only federal-level veterans’ employment awards that recognize an organization’s commitment to veteran hiring, retention and professional development. In 2024, 28 North Carolina employers received a HIRE Vets Medallion Award.

The N.C. Department of Commerce pioneered a first-of-its-kind online feature that highlights North Carolina employers that have received the HIRE Vets medallion award on the state’s NCWorks job search site and on the NCWorks Veterans Portal, located at veterans.ncworks.gov. This tool helps veterans more easily find jobs that the recognized companies are currently advertising.

“North Carolina’s military community is one of our state’s strategic assets, and we applaud the many employers who recognize the talent, value and unique perspective that our veterans provide,” said N.C. Department of Commerce Secretary Lee Lilley. “By recruiting and training veterans for meaningful employment opportunities, companies assist in the transition to civilian life and honor the sacrifice of military service.”

“Veterans and their families enrich North Carolina communities and provide a ready and skilled workforce that is second to none,” said Secretary Jocelyn Mitnaul Mallette of the NC Department of Military and Veterans Affairs (NC DMVA). “Transitioning from active-duty military to Veteran status is easier when Veterans and employers engage and connect. The economic impact is significant, but the security of supporting your family with meaningful employment is something beyond measure. We appreciate the HIRE Vets Medallion program and all it does to inspire, create, and encourage employment opportunities for our Veterans.”

The HIRE Vets Medallion Award is based on several criteria, ranging from veteran hiring and retention to providing veteran-specific resources, leadership programming, dedicated human resources, and compensation and tuition assistance programs – with requirements varying for large, medium, and small employers. There is a fee to apply for the HIRE Vets Medallion Program, which is used to cover the costs associated with carrying out the HIRE Vets Act. The fee for large employers is $495 per applicant, the fee for medium employers is $190 per applicant, and the fee for small employers is $90 per applicant.

One of the many North Carolina employers recognized by the program is the nonprofit Asheville Buncombe Community Christian Ministries (ABCCM), the parent organization of Veterans Services of the Carolinas. Founded in 1969 through the collaboration of local churches, ABCCM works with community organizations to offer free assistance to veterans and their families.

“At ABCCM Veterans Services of the Carolinas, we are deeply committed to empowering and supporting our nation’s Veterans as they transition into meaningful careers,” said Jessica Rice, Managing Director for Veterans Services of the Carolinas. “We are honored to be a three-time recipient of this award, recognizing the immense value Veterans bring to our organization. Their unique skills and experiences not only enhance our team but also allow them to connect on a deeper level with both their Veteran coworkers and the Veterans we serve. Together, we can ensure that those who have served our country receive the opportunities, support, and respect they deserve.”

The Department of Commerce, working in close partnership with the U.S. Department of Labor, has 50 NCWorks Veterans Services professionals (all of whom are veterans themselves). Their primary mission is to help veterans find good jobs and training opportunities. These professionals are located across the state at local NCWorks Career Centers, which serve veterans and other jobseekers, while also helping employers meet their talent needs. The department also partners with North Carolina For Military Employment (NC4ME) on special hiring events.

To learn more and apply for the HIRE Vets Medallion Award Program, go to www.HireVets.gov.

Employers and veterans may also visit or contact an NCWorks Career Center for assistance. Contact information for each career center is found at www.NCWorks.gov.

NCWorks Veterans Services are supported by the Jobs for Veterans State Grant from the Veterans’ Employment and Training Service (VETS) of the U.S. Department of Labor as part of an award to North Carolina totaling $5,703,016, with 0% financed from non-governmental sources.

Mar 31, 2025

MIL OSI USA News –

April 1, 2025
MIL-Evening Report: NZ’s Broadcasting Act is as old as Video Ezy. We need media reform for the streaming age
Source: The Conversation (Au and NZ) – By Jesse Austin-Stewart, Lecturer, School of Music and Screen Arts, Te Kunenga ki Pūrehuroa – Massey University

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One year after Video Ezy opened its first store in Aotearoa New Zealand, the Broadcasting Act 1989 was introduced. It established frameworks and funding for local content that largely still exist.

But in 2025, New Zealanders’ viewing and listening habits are radically different. We’ve shifted from local broadcasters to international streaming and online media services. Video and music streaming platforms now reach more people than local TV and radio.

This brings convenience and access to a world of film, TV, news, and music. But it also means local content risks being swamped on its own shores. A recent discussion document from Manatū Taonga/Ministry for Culture and Heritage is the latest attempt to address the problem.

Among the suggested changes to local content funding, promotion, and distribution are:
- requiring newly manufactured smart TVs to pre-install New Zealand apps
- the merger of NZ On Air with the NZ Film Commission
- changes to the Broadcast Standards Authority
- increased captioning and audio description
- and requiring local and global media providers to invest in and promote New Zealand content.
Some of these are welcome – and long overdue. But broader media reform must also take this opportunity to create future-proofed policy; one that’s responsive to where local audiences are consuming content, and which supports the media sector to adapt to a rapidly changing landscape.

Why local content struggles

New Zealand media, already hit by wider platform choice and the movement of advertising revenue offshore, has experienced deep job cuts, including at state-owned TVNZ, and the complete closure of Newshub.

As audiences migrate towards online streaming services, TVNZ’s digital platform TVNZ+ now has a daily reach of 26% of local audiences. In 2024, nine New Zealand shows featured in its top 20 most watched.

While that might seem positive, Netflix, YouTube, Facebook, and Instagram each individually outperform TVNZ+ viewership. And many global video-on-demand platforms have fewer than ten local titles available for New Zealand audiences to watch.

Local music is also struggling. In 2024, only two national radio stations hit the voluntary 20% local music target. Only one local song featured in the end-of-year top 50 singles charts.

These figures might suggest New Zealanders aren’t interested in local content – but that isn’t necessarily true. If we compare local media structures to overseas markets, we see major differences in the opportunities for local content to reach audiences.

Unlike other comparable countries, New Zealand lacks government-owned and fully-funded platforms for locally produced content to find local audiences. Where these platforms exist overseas, engagement with local content is higher.

For instance, Norway’s publicly-owned youth station saw local music comprise 50% of its annual top 40 charts in 2023. Australia’s state-funded Triple J has a 40% local music quota, and the state-owned, advertising-free ABC iview platform has a weekly national audience reach of 62%.

Finding audiences where they are

Announcing his government’s creative sector strategy last year, Minister for Arts, Culture and Heritage Paul Goldsmith said it aims to “nurture talent and support a pipeline to provide sustainable career opportunities”.

Arts, Culture and Heritage Minister Paul Goldsmith.
Getty Images

The strategy also speaks of “modernising and streamlining government regulation to enable our cultural sectors to thrive”.

But there are significant omissions in the latest discussion document. Video gaming, for example, is largely missing from the proposals, although research suggests the industry could represent up to 44% of global consumer entertainment spending by 2040.

Global video sharing platforms such as YouTube, TikTok and Instagram are similarly absent in the proposals, despite their 81% daily reach among Aotearoa New Zealand’s 15-39 age bracket.

Addressing those omissions and strategically embracing new opportunities offers a chance to support local producers in two key ways: enhancing the global presence of New Zealand content, and ensuring local audiences see themselves in the media they enjoy.

This would require an ambitious rethink around media infrastructure and investments, focused on what can have the biggest impact long term. This might include:
- investing in a fully-funded youth radio station
- changing the revenue structure of TVNZ to be primarily state funded
- legislating global video sharing platforms like YouTube and TikTok to promote New Zealand content
- or developing a progressive, industry-informed video game policy.
It’s vital that any proposed policy changes are fit for purpose and adaptable for years to come.

Past attempts at media reform in Aotearoa New Zealand have often been reactive to changing environments, rather than proactive. But there’s an opportunity now to consider more meaningful changes, addressing current challenges while looking to the future.

Jesse Austin-Stewart has completed commissioned research for NZ On Air and participated in focus groups for Manatū Taonga Ministry for Culture and Heritage. He has received competitive funding from Creative New Zealand, NZ On Air, Manatū Taonga Ministry for Culture & Hertiage, and the NZ Music Commission. He is a writer member of APRA AMCOS and a member of the Composer’s Association of New Zealand

Catherine Hoad has previously completed research in partnership with or commissioned by APRA AMCOS, Toi Mai Workforce Development Council, Manatū Taonga Ministry for Culture & Heritage, ScreenSafe, and NZ On Air.

Dave Carter is a writer member of APRA AMCOS and has previously received funding from Manatū Taongao Ministry for Culture and Heritage.

Oli Wilson has previously completed research in partnership with or commissioned by APRA AMCOS, Toi Mai Workforce Development Council, Manatū Taonga Ministry for Culture & Heritage and the NZ Music Commission. He has also received funding, or contributed to projects that have benefited from funding from NZ on Air, the NZ Music Commission and Recorded Music New Zealand. He has provided services to The Chills, owns shares in TripTunz Limited, and is a writer member of APRA AMCOS.

– ref. NZ’s Broadcasting Act is as old as Video Ezy. We need media reform for the streaming age – https://theconversation.com/nzs-broadcasting-act-is-as-old-as-video-ezy-we-need-media-reform-for-the-streaming-age-252713
MIL OSI Analysis – EveningReport.nz –
April 1, 2025
MIL-Evening Report: Under a Coalition government, the fate of Australia’s central climate policy hangs in the balance

Source: The Conversation (Au and NZ) – By Felicity Deane, Professor of Trade Law, Taxation and Climate Change, Queensland University of Technology

RobynCharnley/Shutterstock

The future of Australia’s key climate policy is uncertain after Opposition Leader Peter Dutton said a Coalition government would review the measure, known as the “safeguard mechanism”, which is designed to limit emissions from Australia’s largest industrial polluters.

According to the Australian Financial Review, if the Coalition wins office it will consider relaxing the policy, as part of its plan to increase domestic gas supplies.

Evidence suggests weakening the mechanism would be a mistake. In fact, it could be argued the policy does not go far enough to force polluting companies to curb their emissions.

Both major parties now accept Australia must reach net-zero emissions by 2050. This bipartisan agreement should make one thing clear: winding back the safeguard mechanism would be reckless policy.

What’s the safeguard mechanism again?

The safeguard mechanism began under the Coalition government in 2016. It now applies to 219 large polluting facilities that emit more than 100,000 tonnes of greenhouse gases a year. These facilities are in sectors such as electricity, mining, gas, manufacturing, waste and transport. Together, they produce just under one-third of Australia’s emissions.

Under the policy’s original design, companies were purportedly required to keep their emissions below a certain cap, and buy carbon credits to offset any emissions over the cap. However, loopholes meant the cap was weakly enforced.

This meant greenhouse gas pollution from the facilities actually increased – rising from 131.3 million tonnes to 138.7 million tonnes in the first six years of the policy.

Labor strengthened the safeguard mechanism after it won office, by setting a hard cap for industrial emissions. The Coalition voted against the reforms.

Dutton has since labelled the safeguard mechanism a “carbon tax”
– a claim that has been debunked. Some members of the Coalition reportedly believe the policy makes manufacturers globally uncompetitive.

Now, according to media reports, a Coalition government would review the safeguard mechanism with a view to weakening it, in a bid to bolster business and increase gas supply.

Why the safeguard mechanism should be left alone

Weakening the safeguard mechanism would lead to several problems.

First, it would mean large facilities, including new coal and gas projects, would be permitted to operate without meaningful limits on their pollution. This threatens Australia’s international climate obligations.

Second, if polluters were no longer required to buy carbon offsets, this would disrupt Australia’s carbon market.

As the Clean Energy Regulator notes, the safeguard mechanism is the “dominant source” of demand for Australian carbon credits.

In the first quarter of 2024, about 1.2 million carbon-credit units were purchased by parties wanting to offset their emissions. The vast majority were purchased by companies meeting compliance obligations under the safeguard mechanism or similar state rules.

If companies are no longer required to buy offsets, or they buy fewer offsets, this would hurt those who sell carbon credits.

Carbon credits are earned by organisations and individuals who abate carbon – through measures such as tree planting or retaining vegetation. The activities are often carried out by farmers and other landholders, including Indigenous organisations. Indigenous-led carbon projects have delivered jobs, cultural renewal and environmental benefits.

The safeguard mechanism, together with the government pledge to reach net-zero emissions by 2050, also provides certainty for the operators of polluting facilities. Many in the business sector have called for the policy to remain unchanged.

And finally, winding back the safeguard mechanism would send a troubling signal to the world: that Australia is stepping back from climate action.

Now is not the time to abdicate our responsibilities on climate change. Atmospheric carbon dioxide levels have risen dramatically since 1960. This increase is driving global warming and climate change, leading to extreme weather events which will only worsen.

A hard-won policy

The safeguard mechanism has not had time to deliver meaningful outcomes. And it is far from perfect – but it is hard-won, and Australia needs it.

The 2023 reforms to the mechanism were designed to support trade-exposed industries, while encouraging companies to invest in emissions reduction.

Undoing this mechanism would risk our climate goals. It would leave the government limited means to curb pollution from Australia’s largest emitters, and muddy the roadmap to net-zero. It would also create uncertainty for all carbon market participants, including the polluting facilities themselves.

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

– ref. Under a Coalition government, the fate of Australia’s central climate policy hangs in the balance – https://theconversation.com/under-a-coalition-government-the-fate-of-australias-central-climate-policy-hangs-in-the-balance-253426

MIL OSI Analysis – EveningReport.nz –

April 1, 2025

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Updates to this page

Why local content struggles

Finding audiences where they are

What’s the safeguard mechanism again?

Why the safeguard mechanism should be left alone

A hard-won policy