Category: Taxation

MIL-OSI: Alpine ENT Expands Partnership with CareCloud, Implements FrontDesk Assist to Enhance Patient Experience

Source: GlobeNewswire (MIL-OSI)

SOMERSET, N.J., March 26, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO), a leading provider of healthcare technology and AI-powered revenue cycle management (RCM) solutions, today announced the expanded adoption of its services by Alpine Ear, Nose & Throat PC, a premier otolaryngology group based in Colorado. Following a successful RCM engagement, Alpine ENT has now implemented CareCloud FrontDesk Assist—a comprehensive front-office solution designed to streamline operations and enhance patient satisfaction.

“CareCloud has proven to be a true partner in optimizing our practice,” said Mike Heck, CEO of Alpine ENT. “Since deploying FrontDesk Assist, we’ve seen tangible improvements across our front-desk operations. Patient wait times are shorter, appointment scheduling is smoother, and our staff now spends far less time on administrative tasks.”

FrontDesk Assist now supports Alpine ENT with critical front-office functions such as appointment scheduling, referral management, surgery estimates, and prior authorizations. These services complement the existing RCM partnership by boosting operational efficiency and freeing up clinical staff to focus more on patient care.

With 24 providers across three Northern Colorado locations, Alpine ENT delivers a full spectrum of ENT services, including audiology, vestibular therapy, and allergy care. Since implementing FrontDesk Assist, the practice has experienced measurable gains in productivity and patient engagement—underscoring a mutual commitment to innovation, operational excellence, and care quality.

“Alpine ENT’s decision to expand our collaboration speaks to the trust they place in CareCloud’s expertise and solutions,” said Crystal Williams, President of CareCloud. “With FrontDesk Assist, they gain a seamlessly integrated platform that drives both financial and patient-centered outcomes. Our mission is to simplify practice operations so providers can focus on delivering exceptional care.”

This partnership expansion reinforces CareCloud’s dedication to delivering scalable, tech-enabled solutions that help healthcare organizations thrive amid industry transformation. FrontDesk Assist is now available nationwide to healthcare practices of all specialties—including the thousands already using CareCloud’s EHR and RCM platforms.

To learn more about CareCloud FrontDesk Assist, visit www.carecloud.com/frontdesk-assist.

About CareCloud

CareCloud brings disciplined innovation and generative AI to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

Follow CareCloud on LinkedIn, X and Facebook.

Disclaimer

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

Forward-Looking Statements

This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE CareCloud

Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com

The MIL Network –

March 27, 2025

MIL-OSI: SailPoint Announces Strong Fiscal Fourth Quarter and Full Year 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Grew ARR 29% year-over-year to $877 million
Expanded SaaS ARR 39% year-over-year to $540 million
Finished the year with an ~80% year-over-year increase in the number of customers with more than $1 million of ARR

AUSTIN, Texas, March 26, 2025 (GLOBE NEWSWIRE) — SailPoint, Inc. (Nasdaq: SAIL), a leader in enterprise identity security, today announced financial results for its fiscal fourth quarter and full year, ended January 31, 2025.

“We are very pleased to report our strong fourth quarter and full year 2025 results where our continued pursuit of efficient growth at scale drove a year of greater than ‘rule of 40’ performance. Our relentless focus on innovation and execution enables us to capitalize on the growing market opportunity to help enterprises as they struggle to manage, govern and secure their vast identity landscape,” said Mark McClain, SailPoint Founder and CEO.

“Identity security is increasingly recognized as a strategic enterprise security imperative today. CIOs and CISOs now realize the criticality of a unified, intelligent, and powerful identity security platform that is designed to handle enterprise-class scale, complexity, and velocity of change in fine-grained access needs. This becomes even more important with the rise of AI agents,” McClain continued. “We believe SailPoint’s ability to serve as a central control plane for securing all enterprise identities makes us the ideal partner to solve these critical business challenges for enterprises worldwide.”

Fiscal 2025 Fourth Quarter Financial Highlights

Annual Recurring Revenue (ARR): Total ARR was $877 million, an increase of 29% year-over-year. SaaS ARR was $540 million, an increase of 39% year-over-year.
Revenue: Total revenue was $240 million, an increase of 18% year-over-year. Subscription revenue was $224 million, an increase of 22% year-over-year.
Operating Income (Loss): GAAP operating loss was $30 million, or (12.6)% of revenue, compared to $65 million, or (32.2)% of revenue in fiscal Q4 2024. Adjusted income from operations was $46 million, or 19.0% of revenue, compared to $28 million, or 13.7% of revenue in fiscal Q4 2024.

Fiscal Full Year 2025 Financial Highlights

Annual Recurring Revenue: Total ARR was $877 million, an increase of 29% year-over-year. SaaS ARR was $540 million, an increase of 39% year-over-year.
Revenue: Total revenue was $862 million, an increase of 23% year-over-year. Subscription revenue was $794 million, an increase of 27% year-over-year.
Operating Income (Loss): GAAP operating loss was $189 million, or (21.9)% of revenue, compared to $333 million, or (47.6)% of revenue in FY 2024. Adjusted income from operations was $133 million, or 15.4% of revenue, compared to $54 million, or 7.8% of revenue in FY 2024.

Financial Outlook

For the first quarter of fiscal 2026, SailPoint expects:

Total ARR: In the range of $896 to $900 million, representing 26% to 27% year-over-year growth.
Total Revenue: In the range of $224 to $226 million, representing 19% to 20% year-over-year growth.
Adjusted Income from Operations: In the range of $14 to $15 million, representing adjusted operating margin of 6.2% to 6.7%.
Adjusted EPS: In the range of ($0.02) to $0.00 per diluted share.

For the fiscal full year 2026, SailPoint expects:

Total ARR: In the range of $1,075 to $1,085 million, representing 23% to 24% year-over-year growth.
Total Revenue: In the range of $1,025 to $1,035 million, representing 19% to 20% year-over-year growth.
Adjusted Income from Operations: In the range of $151 to $156 million, representing adjusted operating margin of 14.6% to 15.2%.
Adjusted EPS: In the range of $0.14 to $0.18 per diluted share.

These statements regarding SailPoint’s expectations of its financial outlook are forward-looking and actual results may differ materially. Refer to “Forward-Looking Statements” below for information on the factors that could cause SailPoint’s actual results to differ materially from these forward-looking statements.

All of SailPoint’s forward-looking non-GAAP financial measures exclude estimates for stock-based compensation expense and amortization of acquired intangibles as well as acquisition related costs and severance of certain key executives, if applicable. SailPoint has not reconciled its expectations as to adjusted income (loss) from operations and adjusted EPS to their most directly comparable GAAP measure due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to stock-based compensation expense. Stock-based compensation expense is affected by future hiring, turnover, and retention needs, as well as the future fair market value of our common stock, all of which are difficult to predict and subject to change. The actual amount of the excluded stock-based compensation expense will have a significant impact on SailPoint’s GAAP income (loss) from operations and GAAP net income (loss) per basic and diluted common share. Accordingly, reconciliations of our forward-looking adjusted income (loss) from operations and adjusted EPS are not available without unreasonable effort.

Investor Conference Call and Webcast

SailPoint will host a conference call today at 8:30 a.m. Eastern Time to discuss the results and outlook. A live webcast of the conference call and a presentation regarding SailPoint’s fiscal fourth quarter and full year 2025 financial results will be available on SailPoint’s website at https://investors.sailpoint.com.

An audio replay of the conference call will be available on the investor relations website for one year.

About SailPoint

SailPoint, Inc. (Nasdaq: SAIL) equips the modern enterprise to seamlessly manage and secure access to applications and data through the lens of identity – at speed and scale. As a category leader, we continuously reinvent identity security as the foundation of the secure enterprise. SailPoint delivers a unified, intelligent, extensible platform built to defend against today’s dynamic, identity-centric cyber threats while enhancing productivity and efficiency. SailPoint helps many of the world’s most complex, sophisticated enterprises create a secure technology ecosystem that fuels business transformation.

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, we use certain non-GAAP financial measures to clarify and enhance our understanding of past performance, including the following:

Adjusted income from operations, which we define as income (loss) from operations excluding equity-based compensation expense, amortization of acquired intangible assets which includes impairment charges, impairment of intangible assets, acquisition-related expenses, benefit from amortization related to acquired contract acquisition costs, Thoma Bravo monitoring fees (which are annual service fees for consultation and advice related to corporate strategy, budgeting of future corporate investments, acquisition and divestiture strategies, and debt and equity financings pursuant to an advisory services agreement that was terminated upon the consummation of our initial public offering), and restructuring expenses.

Adjusted operating margin, which we define as adjusted income from operations as a percentage of revenue.

Adjusted EPS (or non-GAAP net income (loss) available to common stockholders per basic and diluted share), which we define as adjusted net income (loss) divided by the weighted average outstanding common shares. We calculate adjusted net income (loss) as net income (loss) on a GAAP basis excluding equity-based compensation expense, amortization of acquired intangible assets which includes impairment charges, impairment of intangible assets, acquisition-related expenses, benefit from amortization related to acquired contract acquisition costs, and Thoma Bravo monitoring fees. Adjusted net income (loss) is adjusted for the effect of income taxes associated with such adjustments.

Our non-GAAP financial measures exclude items that neither relate to our ordinary course of business nor reflect our underlying business performance, such as equity-based compensation, the amortization of acquired intangible assets, and acquisition-related expenses. We believe these adjustments enable management and investors to compare our underlying business performance from period-to-period and provide investors with additional means to evaluate cost and expense trends. We also believe these adjustments enhance comparability of our financial performance against those of other technology companies. Accordingly, our management believes the presentation of our non-GAAP financial measures provides useful information to investors regarding our financial condition and results of operations. In addition, SailPoint’s management uses adjusted income (loss) from operations for budgeting and planning purposes, including with respect to its corporate bonus plan.

Our non-GAAP financial measures are adjusted for the following factors, among others:

Equity-based compensation expense. We believe that the exclusion of equity-based compensation expense is appropriate because it eliminates the impact of equity-based compensation costs that are based upon valuation methodologies and assumptions that vary over time, and the amount of the expense can vary significantly due to factors that are unrelated to our core operating performance and that can be outside of our control. Although we exclude equity-based compensation expenses from our non-GAAP measures, equity compensation has been, and will continue to be, an important part of our future compensation strategy and a significant component of our future expenses and may increase in future periods.

Amortization of acquired intangible assets. We exclude amortization charges for our acquisition-related intangible assets and impairment of intangible assets for purposes of calculating certain non-GAAP measures to eliminate the impact of these non-cash charges and provide for a more meaningful comparison between operating results from period to period as the intangible assets are valued at the time of acquisition and are amortized over the useful life, which can be several years after the acquisition.

Acquisition related costs. We believe that the exclusion of acquisition-related expenses is appropriate as they represent items that management believes are not indicative of our ongoing operating performance. These expenses are primarily composed of legal, accounting, and professional fees incurred that are not capitalizable and that are included within general and administrative expenses.

Amortization related to acquired contract acquisition costs. On August 16, 2022, our predecessor was acquired in an all-cash take-private transaction by Thoma Bravo (the “Take-Private Transaction”). In accordance with GAAP reporting requirements, we have written off our contract acquisition costs at the time of the Take-Private Transaction. Therefore, GAAP commissions expense related to contract acquisition costs after the Take-Private Transaction do not reflect the commissions expense that would have been reported if the contract acquisition costs were not written off. Accordingly, we believe that presenting the approximate amount of acquisition-related commission expenses (so that the full amount of commission expense is included) provides a more appropriate representation of commission expense in a given period and, therefore, provides readers of our financial statements with a more consistent basis for comparison across accounting periods.

SailPoint’s non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry because they may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP and exclude expenses that may have a material impact on our reported financial results. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. SailPoint urges you to review the reconciliations of our non-GAAP financial measures to the comparable GAAP financial measures included below, and not to rely on any single financial measure to evaluate its business.

Definitions of Certain Key Business and Other Metrics

Annual Recurring Revenue. We define ARR as the annualized value of SaaS, maintenance, term subscription, and other subscription contracts as of the measurement date. To the extent that we are actively negotiating a renewal or new agreement with a customer after the expiration of a contract, we continue to include that contract’s annualized value in ARR until the customer notifies us that it is not renewing its contract. We calculate ARR by dividing the active contract value by the number of days of the contract and then multiplying by 365. ARR should be viewed independently of revenue, as ARR is an operating metric and is not intended to be combined with or to replace revenue. ARR is not a forecast of future revenue, which can be impacted by ASC 606 allocations, and ARR does not consider other sources of revenue that are not recurring in nature. ARR does not have a standardized meaning and is not necessarily comparable to similarly titled measures presented by other companies.

SaaS Annual Recurring Revenue. We define SaaS ARR as the annualized value of SaaS contracts as of the measurement date. To the extent that we are actively negotiating a renewal or new agreement with a customer after the expiration of a contract, we continue to include that contract’s annualized value in SaaS ARR until the customer notifies us that it is not renewing its contract. We calculate SaaS ARR by dividing the active SaaS contract value by the number of days of the contract and then multiplying by 365. SaaS ARR should be viewed independently of subscription revenue as SaaS ARR is an operating metric and is not intended to be combined with or replace subscription revenue. SaaS ARR is not a forecast of future subscription revenue, which can be impacted by ASC 606 allocations and renewal rates and does not consider other sources of revenue that are not recurring in nature. SaaS ARR does not have a standardized meaning and is not necessarily comparable to similarly titled measures presented by other companies.

Subscription Revenue. The majority of our revenue relates to subscription revenue which consists of (i) fees for access to, and related support for, the SaaS offerings, (ii) fees for term subscriptions, (iii) fees for ongoing maintenance and support of perpetual license solutions, and (iv) other subscription services such as cloud managed services, and certain professional services. Term subscriptions include the term licenses and ongoing maintenance and support. Maintenance and support agreements consist of fees for providing software updates on a when and if available basis and for providing technical support for software products for a specified term.

Subscription revenue, including support for term licenses, is recognized ratably over the term of the applicable agreement. Revenue related to term subscription performance obligations, excluding support for term subscriptions, is recognized upfront at the point in time when the customer has taken control of the software license.

The Rule of 40. The Rule of 40 is a common SaaS industry metric used to evaluate the performance of SaaS providers by assessing a company’s balance between growth and profitability and postulates that a SaaS company’s revenue growth rate and profit margin should equal or exceed 40%. A total of above 40% is thought to indicate a healthy combination of expansion and financial stability. For SailPoint, the Rule of 40 is computed by adding the year-over-year ARR growth rate with our adjusted operating margin.

Explanatory Note Regarding Our Corporate Conversion

Prior to February 12, 2025, we were a Delaware limited partnership named SailPoint Parent, LP. On February 12, 2025, in connection with our initial public offering, SailPoint Parent, LP converted into a Delaware corporation pursuant to a statutory conversion and changed its name to SailPoint, Inc. References to “SailPoint,” “we, and “our” (i) for periods prior to such corporate conversion are to SailPoint Parent, LP and where appropriate, its consolidated subsidiaries and (ii) for periods after such corporate conversion are to SailPoint, Inc. and where appropriate, its consolidated subsidiaries.

Forward-Looking Statements

This press release and statements made during the above referenced conference call may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and our expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook,” or “continue” or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management’s current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.

Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: our ability to sustain historical growth rates; our ability to attract and retain customers; our ability to deepen our relationships with existing customers; the growth in the market for identity security solutions; our ability to maintain success relationships with each of our partners; the length and unpredictable nature of our sales cycle; our ability to compete successfully against current and future competitors; the increasing complexity of our operations; our ability to maintain and enhance our brand or reputation as an industry leader and innovator; unfavorable conditions in our industry or the global economy; our estimated market opportunity and forecasts of our market and market growth may prove to be inaccurate; our ability to hire, train and motivate our personnel; our ability to maintain our corporate culture; our ability to successfully introduce, use, and integrate artificial intelligence (AI) with our solutions; breaches in our security, cyber attacks, or other cyber risks; interruptions, outages, or other disruptions affecting the delivery of our SaaS solution or any of the third-party cloud-based systems that we use in our operations; our ability to adapt and respond to rapidly changing technology, industry standards, regulations, or customer needs, requirements, or preferences; real or perceived errors, failures, or disruptions in our platform or solutions; the ability of our platform and solutions to effectively interoperate with our customers’ existing or future IT infrastructures; and our ability to comply with our privacy policy or related legal or regulatory requirements. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our upcoming Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other filings. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release or made during the above referenced conference call. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.

Any forward-looking statement made in this press release or during the above referenced conference call speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

Investor Relations Contact
Scott Schmitz, SVP IR
ir@sailpoint.com

Media Relations Contact
Samantha Person, Senior Manager, Corporate Communications
Samantha.person@sailpoint.com

SAILPOINT PARENT, LP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per unit amounts)

	(Unaudited)						(Audited)
	Three months ended January 31,						Twelve months ended January 31,
		2025			2024			2025			2024
Revenue
Subscription	$	224,379		$	184,288		$	793,919		$	622,830
Perpetual licenses		40			742			400			5,842
Services and other		15,702			17,677			67,292			70,900
Total revenue		240,121			202,707			861,611			699,572
Cost of revenue
Subscription		62,407			54,817			236,581			205,053
Perpetual licenses		33			164			154			2,227
Services and other		17,909			17,991			68,998			69,355
Total cost of revenue		80,349			72,972			305,733			276,635
Gross profit		159,772			129,735			555,878			422,937
Operating expenses
Research and development		45,456			45,933			169,730			180,778
Sales and marketing		116,865			122,837			466,903			461,187
General and administrative		27,665			26,193			107,979			113,701
Total operating expenses		189,986			194,963			744,612			755,666
Loss from operations		(30,214	)		(65,228	)		(188,734	)		(332,729	)
Other income (expense), net
Interest income		543			2,627			4,158			10,658
Interest expense		(46,527	)		(47,569	)		(186,652	)		(187,059	)
Other income (expense), net		(2,202	)		(884	)		(5,401	)		(3,219	)
Total other income (expense), net		(48,186	)		(45,826	)		(187,895	)		(179,620	)
Loss before income taxes		(78,400	)		(111,054	)		(376,629	)		(512,349	)
Income tax benefit (expense)		(1,704	)		23,791			60,799			116,982
Net loss	$	(80,104	)	$	(87,263	)	$	(315,830	)	$	(395,367	)
Class A yield		(292,110	)		(152,197	)		(764,549	)		(583,672	)
Net loss attributable to Class B unitholders		(372,214	)		(239,460	)		(1,080,379	)		(979,039	)
Loss per unit attributable to Class B unitholders – basic and diluted	$	(4.29	)	$	(2.93	)	$	(12.91	)	$	(12.13	)
Weighted average Class B Units outstanding – basic and diluted		86,781			81,651			83,716			80,746

SAILPOINT PARENT, LP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except units)

	January 31, 2025			January 31, 2024

Assets
Current assets
Cash and cash equivalents	$	121,293		$	211,647
Accounts receivable, net of allowance		254,050			213,307
Contract acquisition costs		32,834			18,668
Contract assets, net of allowance		58,335			51,703
Prepayments and other current assets		45,870			35,752
Total current assets		512,382			531,077
Property and equipment, net		22,879			16,332
Contract acquisition costs, non-current		94,270			61,657
Contract assets, non-current, net of allowance		33,788			28,717
Other non-current assets		36,206			33,219
Goodwill		5,151,668			5,138,855
Intangible assets, net		1,560,723			1,779,875
Total assets	$	7,411,916		$	7,589,732
Liabilities, redeemable convertible units and partners’ deficit
Current liabilities
Accounts payable	$	3,515		$	8,820
Accrued expenses and other liabilities		158,135			117,570
Deferred revenue		413,043			335,465
Total current liabilities		574,693			461,855
Deferred tax liabilities, non-current		136,528			206,464
Other long-term liabilities		32,128			24,954
Deferred revenue, non-current		36,399			36,575
Long-term debt, net		1,024,467			1,562,215
Total liabilities		1,804,215			2,292,063
Commitments and contingencies
Redeemable convertible units, no par value, unlimited units authorized, 499,052,847 and 454,618,712 units issued and outstanding as of January 31, 2025 and 2024, respectively; aggregate liquidation preference of $8,100,352 and $6,861,381 as of January 31, 2025 and 2024, respectively		11,196,141			5,838,864
Partners’ deficit
Additional paid in capital		—			37,431
Accumulated deficit		(5,588,440	)		(578,626	)
Total partners’ deficit		(5,588,440	)		(541,195	)
Total liabilities, redeemable convertible units and partners’ deficit	$	7,411,916		$	7,589,732


SAILPOINT PARENT, LP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

	Year ended January 31,
		2025			2024
Cash flows from operating activities
Net loss	$	(315,830	)	$	(395,367	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense		237,248			263,638
Amortization and write-off of debt discount and issuance costs		12,685			4,152
Amortization of contract acquisition costs		24,899			11,519
(Gain) loss on disposal of property and equipment		—			36
Provision for credit losses		2,534			1,662
Equity-based compensation expense		31,714			37,469
Deferred taxes		(71,209	)		(124,919	)
Net changes in operating assets and liabilities, net of business acquisitions
Accounts receivable		(41,653	)		(57,397	)
Contract acquisition costs		(71,678	)		(61,716	)
Contract assets		(11,730	)		(21,139	)
Prepayments and other current assets		(13,744	)		(594	)
Other non-current assets		6,006			(87	)
Operating leases, net		293			335
Accounts payable		(5,346	)		4,232
Accrued expenses and other liabilities		36,565			22,634
Deferred revenue		72,855			65,188
Net cash used in operating activities		(106,391	)		(250,354	)
Cash flows from investing activities
Purchase of property and equipment		(5,362	)		(2,577	)
Proceeds from sale of property and equipment		14			31
Capitalized software development costs		(8,219	)		—
Purchase of intangible assets		—			(1,900	)
Business acquisitions, net of cash acquired		(15,377	)		(8,218	)
Net cash used in investing activities		(28,944	)		(12,664	)
Cash flows from financing activities
Proceeds from issuance of units		600,321			51,743
Proceeds from revolving line of credit		25,000			—
Repayments to revolving line of credit		(25,000	)		—
Repayment of term loan		(550,000	)		—
Payments of deferred offering costs		(2,892	)		—
Repurchase of units		(6,172	)		(1,311	)
Net cash provided by financing activities		41,257			50,432
Net change in cash, cash equivalents and restricted cash		(94,078	)		(212,586	)
Cash, cash equivalents and restricted cash, beginning of period		218,468			431,054
Cash, cash equivalents and restricted cash, end of period	$	124,390		$	218,468

SAILPOINT PARENT, LP AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (Amounts in thousands, except percentages) (Unaudited)

	Three months ended January 31,						Twelve months ended January 31,
		2025			2024			2025			2024

GAAP gross profit	$	159,772		$	129,735		$	555,878		$	422,937
GAAP gross profit margin		66.5	%		64.0	%		64.5	%		60.5	%
Equity-based compensation expense		3,797			2,782			13,771			12,447
Amortization of acquired intangible assets		25,896			25,819			103,483			102,967
Acquisition-related expenses and Thoma Bravo monitoring fees		—			58			—			58
Restructuring		—			6			—			94
Adjusted gross profit	$	189,465		$	158,400		$	673,132		$	538,503
Adjusted gross profit margin		78.9	%		78.1	%		78.1	%		77.0	%

	Three months ended January 31,						Twelve months ended January 31,
		2025			2024			2025			2024

GAAP subscription gross profit	$	161,972		$	129,471		$	557,338		$	417,777
GAAP subscription gross profit margin		72.2	%		70.3	%		70.2	%		67.1	%
Equity-based compensation expense		1,999			1,391			7,119			6,675
Amortization of acquired intangible assets		25,863			25,666			103,329			100,820
Acquisition-related expenses and Thoma Bravo monitoring fees		—			58			—			58
Restructuring		—			6			—			85
Adjusted subscription gross profit	$	189,834		$	156,592		$	667,786		$	525,415
Adjusted subscription gross profit margin		84.6	%		85.0	%		84.1	%		84.4	%

	Three months ended January 31,						Twelve months ended January 31,
		2025			2024			2025			2024

GAAP income (loss) from operations	$	(30,214	)	$	(65,228	)	$	(188,734	)	$	(332,729	)
GAAP income (loss) from operations margin	(12.6)%			(32.2)%			(21.9)%			(47.6)%
Equity-based compensation expense		27,375			30,588			99,569			134,819
Amortization of acquired intangible assets		49,609			64,345			230,308			257,029
Amortization of acquired contract acquisition costs		(6,027	)		(6,921	)		(25,682	)		(28,461	)
Acquisition-related expenses and Thoma Bravo monitoring fees		4,893			5,042			17,283			20,051
Restructuring		—			(18	)		—			3,541
Adjusted income (loss) from operations	$	45,636		$	27,808		$	132,744		$	54,250
Adjusted operating margin		19.0	%		13.7	%		15.4	%		7.8	%

The MIL Network –

March 27, 2025

MIL-OSI: Odysight.ai Reports Full Year 2024 Financial Results and Provides Business Update

Source: GlobeNewswire (MIL-OSI)

OMER, Israel, March 26, 2025 (GLOBE NEWSWIRE) — Odysight.ai Inc. (NASDAQ: ODYS), a leading provider of visual based predictive maintenance (PdM) and condition-based monitoring (CBM) solutions, announces its full year 2024 financial results and provides a business update.

Key highlights

	●	2024 annual revenues of approximately $4 million, reflecting YoY growth of 31%.

	●	Inaugural Aerospace revenues, increasing the backlog¹ by more than 450% to approximately $15 million focused on Aerospace.

	●	Secured commercial agreements with a leading international defense contractor, Israeli Air Force, NASA, and Israel Railways successfully transitioning from the Medical to Aerospace vertical while expanding into Transportation.

	●	Uplisted to Nasdaq and raised gross proceeds of $23.7 million during February 2025; net cash position of approximately $39 million as of February 28, 2025.

Yehu Ofer, Chief Executive Officer of Odysight.ai, stated: “We are excited with the increasing recognition Odysight.ai is receiving from prominent global companies in the Aerospace industry. We take pride in the substantial growth of our backlog and, based on discussions with clients and partners, we expect that this trend will continue in the foreseeable future. Odysight.ai’s successful shift from the medical sector to the high-value aerospace sector is already yielding positive results. Our next step is to offer our pioneering solutions, integrating AI-based video analytics and machine learning algorithms, on a Software-as-a-Service (SaaS) model. Looking ahead, we are excited to expand our reach into new markets, including transportation and energy, and leverage our innovative solutions to drive further growth. The future holds immense potential for Odysight.ai, and we are committed to capitalizing on these opportunities to deliver exceptional value to our shareholders.”

Einav Brenner, Chief Financial Officer of Odysight.ai, stated: “We are pleased with our financial performance in 2024, which reflects our successful transition into the Aerospace sector and the growing demand for our innovative solutions. We believe our strong revenue growth and expanding backlog underscore the effectiveness of our strategic initiatives and our dedication to creating value for our shareholders. Additionally, our recent uplisting to Nasdaq and the successful capital raise of $23.7 million in gross proceeds have strengthened our financial position. We welcome new valued investors to our shareholder base and look forward to driving continued growth and innovation.”

Financial highlights for full year ended December 31, 2024

Revenues for the year ended December 31, 2024, were approximately $4 million, compared to $3 million for the year ended December 31, 2023, an increase of approximately 31%. The increase was attributable to Industry 4.0 related revenues.

Backlog reached approximately $15 million for the year ended December 31, 2024, an increase of over 450% compared to December 31, 2023.

Cost of Revenues for the year ended December 31, 2024, was $2.8 million, compared to $2.5 million for the year ended December 31, 2023, an increase of approximately 11%. The increase was primarily attributable to an increase in revenues.

Gross Profit for the year ended December 31, 2024, was $1.2 million, reflecting a gross margin of 29%, compared to $0.5 million for the year ended December 31, 2023, with a gross margin of 17%. The improvement was attributable mainly to Industry 4.0 revenues.

Operating expenses for the year ended December 31, 2024, were $13.7 million, compared to $11.1 million for the year ended December 31, 2023, an increase of approximately 23%. The increase was primarily due to the expansion of the Company’s operations, including the development of new Industry 4.0 products.

Net loss for the year ended December 31, 2024, was $11.8 million, compared to $9.4 million for the year ended December 31, 2023.

Cash Balance² as of December 31, 2024 was $18.5 million, compared to approximately $17 million as of December 31, 2023. In July 2024, the Company completed a private placement raising gross proceeds of $10.3 million.

In addition, during February 2025, the Company uplisted to Nasdaq and completed an underwritten public offering that resulted in gross proceeds of approximately $23.7 million.

¹Backlog is measured and defined differently by companies within our industry. We refer to “backlog” as our booked orders based on purchase orders or hard commitments but not yet recognized as revenue. Backlog is not a comprehensive indicator of future revenue and is not a measure of profitability. Orders included in backlog may be cancelled or rescheduled by customers. A variety of conditions, both specific to the individual customer and generally affecting the customer’s industry, may cause customers to cancel, reduce or delay orders that were previously made or anticipated. Projects may remain in backlog for extended periods of time.

²Including cash, cash equivalents, short term deposits and restricted deposit.

About Odysight.ai

Odysight.ai is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, Odysight.ai leverages proven visual technologies and products from the medical industry. Odysight.ai’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. Odysight.ai’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.

We routinely post information that may be important to investors in the Investors section of our website. For more information, please visit: https://www.odysight.ai or follow us on Twitter, LinkedIn and YouTube.

Backlog

We present our results of operations in a way that we believe will be the most meaningful and useful to investors, analysts, rating agencies and others who use our financial information to evaluate our performance. Backlog is presented for supplemental informational purposes only, and is not intended to be a substitute for any GAAP financial measures, including revenue or net income (loss), and, as calculated, may not be comparable to companies in other industries or within the same industry with similarly titled measures of performance. In addition, backlog should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Therefore, backlog should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding sustained demand for the Company’s products, the Company’s positive trajectory in commercializing its products and optimism about future growth. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward- looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro Odysight.ai technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of Odysight.ai’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on a single customer that accounts for a substantial portion of our revenues, (xi) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the impact of computer system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction and (xv) political, economic and military instability in Israel, including the impact of Israel’s war against Hamas. These and other important factors discussed in Odysight.ai’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 26, 2025, and our other reports filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, Odysight.ai undertakes no obligation to publicly update or revise forward-looking information.

Company Contact:

Einav Brenner, CFO
info@odysight.ai

Investor Relations Contact:

Miri Segal
MS-IR LLC
msegal@ms-ir.com
Tel: +1-917-607-8654

ODYSIGHT.AI INC. (Formerly known as ScoutCam Inc.)

CONSOLIDATED STATEMENTS OF OPERATIONS

	Year ended December 31,
	2024			2023
	USD in thousands (except per share data)

REVENUES		3,964			3,033
COST OF REVENUES		2,807			2,524
GROSS PROFIT		1,157			509
RESEARCH AND DEVELOPMENT EXPENSES		6,884			5,602
SALES AND MARKETING EXPENSES		1,218			1,109
GENERAL AND ADMINISTRATIVE EXPENSES		5,562			4,431
OPERATING LOSS		(12,507	)		(10,633	)
OTHER INCOME		–			200
FINANCING INCOME, NET		740			988
LOSS BEFORE TAXES ON INCOME		(11,767	)		(9,445	)
TAXES ON INCOME		–			–
NET LOSS		(11,767	)		(9,445	)

ODYSIGHT.AI INC. (Formerly known as ScoutCam Inc.)

CONSOLIDATED BALANCE SHEETS

	December 31,
	2024			2023
	USD in thousands

Assets

CURRENT ASSETS:
Cash and cash equivalents		18,164			8,945
Restricted deposit		322			–
Short terms deposits		–			8,096
Accounts receivable		1,510			1,372
Inventory		203			504
Other current assets		588			432
Total current assets		20,787			19,349

NON-CURRENT ASSETS:
Contract fulfillment assets		1,017			1,256
Property and equipment, net		407			477
Operating lease right-of-use assets		1,113			1,380
Severance pay asset		259			271
Other non-current assets		96			96
Total non-current assets		2,892			3,480

TOTAL ASSETS		23,679			22,829

Liabilities and shareholders’ equity

CURRENT LIABILITIES:
Accounts payable		442			287
Contract liabilities – short term		702			527
Operating lease liabilities – short term		539			470
Accrued compensation expenses		1,124			546
Related parties		120			41
Other current liabilities		368			211
Total current liabilities		3,295			2,082

NON-CURRENT LIABILITIES:
Contract liabilities – long term		1,373			1,795
Operating lease liabilities – long term		508			856
Liability for severance pay		259			261
Other non-current liabilities		–			28
Total non-current liabilities		2,140			2,940

TOTAL LIABILITIES		5,435			5,022

SHAREHOLDERS’ EQUITY:
Common stock, $0.001 par value; 300,000,000 shares authorized as of December 31, 2024, and December 31, 2023, 12,612,517 and 10,443,768 shares issued and outstanding as of December 31, 2024 and December 31, 2023		13			10
Additional paid-in capital		64,205			52,004
Accumulated deficit		(45,974	)		(34,207	)
TOTAL SHAREHOLDERS’ EQUITY		18,244			17,807

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		23,679			22,829

The MIL Network –

March 27, 2025

MIL-OSI United Kingdom: Labour must tax wealthy, not cut vital services

Source: Scottish Greens

26 Mar 2025 Finance

Austerity is a choice.

More in Finance

The UK Government’s Spring Statement will be a test of Labour’s morals, says Scottish Greens co-leader Lorna Slater MSP.

Ms Slater has urged the party to tax the super-rich with wealth taxes to boost our green industries, undo the cruel cuts that have been inflicted and build a fairer society for people and planet.

According to research from the Tax Justice Network, a 1% annual wealth tax on net assets over £10 million could raise almost £10 billion a year while only impacting the richest 0.4% of the population.

Polling from Oxfam shows that two-thirds of Scots back increasing taxes for the rich, which would raise far more money than any ‘savings’ made through cuts.

Ms Slater said:

“The assault on social security and public services is not inevitable. It is a political choice.

“Labour is choosing to punch downwards and punish the most vulnerable rather than taxing the super-rich who have seen their incomes soaring while millions of people have been unable to make ends meet

“This is one of the wealthiest societies there has ever been, but so much of that wealth is being hoarded by a small number of very rich people and corporations.

“By properly taxing wealth, we can do far more to tackle poverty, improve healthcare, invest in public services and create better, happier and healthier communities.”

Ms Slater added:

“Labour promised change, but it was one of the most dishonest election campaigns in history.

“You can’t undo the catastrophic impact of 14 years of Tory rule with even more cuts.

“Every Labour MP faces a moral test. Will they back wealth taxes on the super rich, or will they back plans which they know will plunge even more of their constituents into poverty?”

MIL OSI United Kingdom –

March 26, 2025

MIL-OSI United Kingdom: UK House Price Index for January 2025

Source: United Kingdom – Government Statements

Press release

UK House Price Index for January 2025

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

The January data shows:

on average, house prices have risen by 0.2% since December 2024
there has been an annual price rise of 4.9% which makes the average property in the UK valued at £269,000

England

In England the January data shows, on average, house prices rose by 0.2% since December 2024. The annual price rise of 4.8% takes the average property value to £291,000.

The regional data for England indicates that:

London experienced the most significant monthly increase with a movement of 2.3%
Yorkshire and the Humber saw the greatest monthly price fall, with a fall of -0.6%
the North East experienced the greatest annual price rise, up by 9.1%
London saw the lowest annual price growth, with a rise of 2.3%

Price change by region for England

Region	Average price January 2025	Annual change % since January 2024	Monthly change % since December 2024
East Midlands	£241,000	6.2	-0.4
East of England	£339,000	3	-0.2
London	£564,000	2.3	2.3
North East	£161,000	9.1	-0.1
North West	£210,000	6.8	-0.1
South East	£386,000	4.5	0.5
South West	£307,000	2.7	0.1
West Midlands	£245,000	5.3	0
Yorkshire and the Humber	£203,000	5.9	-0.6

Repossession sales by volume for England

The lowest numbers of repossession sales in November 2024 were in the East Midlands and East of England.

The highest number of repossession sales in November 2024 was in London.

Repossession sales	November 2024
East Midlands	1
East of England	1
London	13
North East	12
North West	12
South East	6
South West	2
West Midlands	7
Yorkshire and the Humber	4
England	61

Average price by property type for England

Property type	January 2025	January 2024	Difference %
Detached	£473,000	£453,000	4.4
Semi-detached	£286,000	£270,000	5.9
Terraced	£242,000	£228,000	5.8
Flat/maisonette	£225,000	£221,000	2
All	£291,000	£278,000	4.8

Funding and buyer status for England

Transaction type	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
Cash	£278,000	4.1	0.2
Mortgage	£297,000	5.1	0.2
First-time buyer	£245,000	5.3	0.1
Former owner occupier	£354,000	4.2	0.4

Building status for England

Building status*	Average price November 2024	Annual price change % since November 2023	Monthly price change % since October 2024
New build	£438,000	22.7	9.5
Existing resold property	£284,000	2.3	-0.7

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices decreased by 2.3% since December 2024. House prices have shown an annual price increase of 2.3%, meaning the average price of a property is £564,000.

Average price by property type for London

Property type	January 2025	January 2024	Difference %
Detached	£1,147,000	£1,115,000	2.9
Semi-detached	£714,000	£684,000	4.4
Terraced	£638,000	£613,000	4
Flat/maisonette	£449,000	£446,000	0.7
All	£564,000	£551,000	2.3

Funding and buyer status for London

Transaction type	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
Cash	£602,000	0.3	3.3
Mortgage	£556,000	2.9	2
First-time buyer	£484,000	2.4	1.9
Former owner occupier	£699,000	2.2	2.8

Building status for London

Building status*	Average price November 2024	Annual price change % since November 2023	Monthly price change % since October 2024
New build	£590,000	18.7	8.6
Existing resold property	£550,000	0	-1.7

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices rose by 0.9% since December 2024. An annual price increase of 6% takes the average property value to £210,000

There were 4 repossession sales for Wales in October 2024.

Average price by property type for Wales

Property type	January 2025	January 2024	Difference %
Detached	£331,000	£314,000	5.2
Semi-detached	£208,000	£195,000	6.5
Terraced	£166,000	£156,000	6.2
Flat/maisonette	£131,000	£125,000	5.1
All	£210,000	£198,000	6

Funding and buyer status for Wales

Transaction type	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
Cash	£210,000	5.6	1.5
Mortgage	£209,000	6.1	0.5
First-time buyer	£180,000	6.4	0.6
Former owner occupier	£251,000	5.5	1.1

Building status for Wales

Building status*	Average price November 2024	Annual price change % since November 2023	Monthly price change % since October 2024
New build	£375,000	23.3	9.4
Existing resold property	£206,000	3	0.6

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices

UK house prices rose by 4.9% in the year to January 2025, up from the revised estimate of 4.6% in the 12 months to December 2024. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.2% between December 2024 and January 2025, compared with a decrease of 0.1% from the same period 12 months ago (December 2023 and January 2024).

The UK Property Transactions Statistics showed that in January 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 95,000. This is 14.4% higher than a year ago (January 2024). Between December 2024 and January 2025, UK transactions decreased by 1% on a seasonally adjusted basis.

House price monthly increase was highest in London where prices increased by 2.3% in the year to January 2025. The highest annual growth was in the the North East, where prices increased by 9.1% in the year to January 2025.

See the economic statement.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Access the full UK HPI

Background

We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the February 2025 UK HPI at 9:30am on Wednesday 16 April 2025. See calendar of release dates.
We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.
HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.
The Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.
We take the UK Property Transaction statistics from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.
UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.
The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.
The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.
HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.
The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).
Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.
For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.
Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.
We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.
HM Land Registry is a government department created in 1862. Its vision is: “A world-leading property market as part of a thriving economy and a sustainable future.”
HM Land Registry’s purpose is: “We protect your land ownership and provide services and data that underpin an efficient and informed property market.”
HM Land Registry safeguards land and property ownership valued at £8 trillion, enabling over £1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The Land Register contains more than 26.5 million titles showing evidence of ownership for more than 89% of the land mass of England and Wales.
For further information about HM Land Registry visit www.gov.uk/land-registry.
Follow us on @HMLandRegistry, our blog, LinkedIn and Facebook.

Contact

Press Office

Trafalgar House
1 Bedford Park
Croydon
CR0 2AQ

Email HMLRPressOffice@landregistry.gov.uk

Phone (Monday to Friday 8:30am to 5:30pm) 0300 006 3365

Mobile (5:30pm to 8:30am weekdays, all weekend and public holidays) 07864 689 344

Published 26 March 2025

MIL OSI United Kingdom –

March 26, 2025

MIL-OSI Security: Pittsford father and son facing multiple fraud and ID theft charges in Rochester area credit card scam

Source: Office of United States Attorneys

ROCHESTER, NY—U.S. Attorney Michael DiGiacomo announced today that Talib Hussain, 74, and Mirza Khan, 46, both of Pittsford, NY, were charged by criminal complaint with bank fraud, wire fraud, conspiracy to commit bank and wire fraud and aggravated identity theft. The charges carry a maximum penalty of 30 years in prison and a $1,000,000 fine.

Assistant U.S. Attorney Meghan K. McGuire, who is handling the case, stated that according to the complaint, since January 2015, JP Morgan Chase, Discover Financial Services, Pentagon Federal Credit Union, Bank of America, Barclay Bank, US Bank, Capital One and American Express have identified fraudulent credit card activity in the Rochester area. A high number of newly issued credit cards were charged to their maximum credit limit and almost all the cards had no valid payments applied to the accounts.

The investigation determined that several of the credit cards were connected. The credit cards were applied for using an actual social security number but a fabricated name and date of birth to create a new, or “synthetic” identity, which was then used to acquire lines-of-credit used by the creator and/or his co-conspirators to make fraudulent purchases until the credit limit was reached. Some of them were used to pay property taxes to the City of Rochester and the Rochester Gas & Electric Corporation bills for properties in Rochester, including Lucky Beverage on Norton Street, Chili Express on Chili Avenue, and Easy (EZ) Food Market on Plymouth Avenue. A total of 32 different fraudulent credit cards were used to make periodic online property tax payments for the three properties between 2016 and 2022, totaling approximately $163,000. Further investigation determined that Lucky Beverage and Chili Express are owned by Mirza Khan, while Easy Food Market is owned by Khan’s father and co-defendant Talib Hussain.

The complaint is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia, Internal Revenue Service Criminal Investigation New York, under the direction of Harry Chavis, Acting Executive Special Agent in Charge, the U.S. Postal Inspection Service Boston Division, under the direction of Inspector in Charge Ketty Larco-Ward, and the Social Security Administration Office of Inspector General, under the direction of Acting Special Agent-in-Charge Amy Connelly.

The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.

# # # #

MIL Security OSI –

March 26, 2025
MIL-OSI: BlackRock® Canada Announces Final March Cash Distributions for the iShares® Premium Money Market ETF

Source: GlobeNewswire (MIL-OSI)

TORONTO, March 25, 2025 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the final March 2025 cash distributions for the iShares Premium Money Market ETF. Unitholders of record on March 26, 2025 will receive cash distributions payable on March 31, 2025.

Details regarding the final “per unit” distribution amounts are as follows:

Fund Name Fund
Ticker Cash
Distribution
Per Unit

iShares Premium Money Market ETF CMR $0.121

Further information on the iShares ETFs can be found at http://www.blackrock.com/ca.

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA

About iShares ETFs
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of December 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares^® ETFs are managed by BlackRock Asset Management Canada Limited.

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

Contact for Media:
Sydney Punchard
Email: Sydney.Punchard@blackrock.com

The MIL Network –

March 26, 2025
MIL-OSI: Novacrest Introduces Structured, Risk-Managed Real Estate Investment Fund for Passive Investors
Source: GlobeNewswire (MIL-OSI)

Kissimmee, FL, March 25, 2025 (GLOBE NEWSWIRE) — Novacrest, a diversified real estate investment firm, has announced the launch of its structured real estate investment fund, designed to provide secure, high-yield passive income opportunities. This fund offers accredited investors a simplified way to benefit from real estate without direct involvement in property management, leveraging a risk-managed approach across various investment vehicles.
With increasing demand for alternative investments, Novacrest’s model offers a compelling option for those seeking consistent returns while minimizing traditional real estate investment complexities. By diversifying capital into fix-and-flip properties, structured real estate notes, and development projects, the fund optimizes growth and wealth preservation.

A Smarter Approach to Passive Real Estate Investing

Traditional real estate investment often requires hands-on management, market expertise, and significant time commitments. Novacrest’s structured investment model removes these barriers, allowing investors to participate in high-performing real estate markets without active involvement.
Key advantages of Novacrest’s real estate investment fund include:
- Diverse Investment Vehicles – Capital is allocated across fix-and-flip projects, land development, and structured real estate notes, balancing risk and reward.
- Risk-Managed Strategy – Investments are backed by data-driven market analysis, ensuring capital is deployed in high-performing real estate markets.
- Tax-Advantaged Returns – Structured investments offer potential tax-free growth, making them attractive alternatives to traditional real estate income.
- Complete Investor Transparency – Monthly performance reports, a secure investor dashboard, and clear insights into fund allocations.
- 100% Passive Investment – Investors benefit from real estate appreciation and profits without dealing with tenants, property maintenance, or legal complexities.
“We created Novacrest’s real estate investment fund to give investors a smarter, more secure way to build wealth through real estate,” said Kiani Kharfan, CEO of Novacrest. “By combining risk management with strategic asset allocation, we make real estate investing truly passive while delivering strong returns.”

The Advantage of Florida’s Real Estate Market

Florida remains one of the most lucrative real estate markets in the U.S., with house flipping and structured real estate investments generating high returns. Recent industry data highlights:
- 28.7% average ROI on house flipping in Q2 2024, with an average gross profit of $70,250 per flip. (Source: Fool.com)
- 141.5% ROI on flipped properties in Ocala, positioning Florida as a prime market for investment. (Source: Fool.com)
- Strong profit margins in Orlando, Jacksonville, and Tampa, reinforcing the state’s reputation as a real estate investment hotspot.
Novacrest leverages real-time market analytics to identify high-potential opportunities, ensuring optimal investment performance.

Structured Investments vs. Traditional REITs

Unlike publicly traded REITs, Novacrest’s private investment fund offers greater control, lower volatility, and direct exposure to real estate-backed assets. By structuring investments across multiple property types, the firm delivers higher, more predictable returns compared to market-dependent REITs.

Why Investors Are Turning to Novacrest

With a focus on wealth preservation and strategic growth, Novacrest has positioned itself as a leading alternative investment platform. Investors are drawn to:
- Higher returns than traditional REITs
- Asset-backed security
- Predictable, structured income streams
- Elimination of property management responsibilities
- Access to exclusive real estate markets
“Passive investors deserve a secure, high-yield investment vehicle that works for them,” added Kharfan. “We built Novacrest to be that solution—delivering structured real estate growth without the hassle of direct ownership.”

How to Get Started

Novacrest’s real estate investment fund is exclusively available to accredited investors seeking to diversify their portfolios with risk-managed real estate assets. To learn more, visit: Novacrest.

About Novacrest

Novacrest is a multi-industry investment firm specializing in real estate development, flipping, structured real estate investments, carbon credits, data centers, and capital raising. The company offers alternative investment opportunities tailored for accredited investors seeking secure, high-yield wealth-building strategies.

Disclaimer: The expert opinions presented in this PR/Story are based on the extensive experience and knowledge of the source company. These views do not necessarily reflect the opinions of the news distribution company and its distribution partners. There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation. The news distribution company and its distribution partners do not endorse or guarantee the accuracy, completeness, or reliability of the information shared by the guest. Viewers are encouraged to consult with their own experts or conduct their own research when making decisions related to topics of this nature. The source company is the one issuing this release. Please contact them directly for further information.

The MIL Network –
March 26, 2025
MIL-OSI Australia: Support for those affected by Tropical Cyclone Alfred
Source:
We understand taxpayers across New South Wales and Queensland communities have been impacted by Ex-Tropical Cyclone Alfred. We encourage you to continue to lodge your clients’ obligations if you can, however for those clients that have been directly affected in Local Government Areas (LGAs) declared eligible for the Australian Government Disaster Recovery Payment (AGDRPExternal Link), we will provide additional time where you or your client are unable to lodge for the following obligations:
- Monthly BAS with an original due date of 21 March 2025 will have up to 11 April 2025 to lodge.
- Individual, Trust and Small Business income tax returns with an original due date of 31 March 2025 will have up to 11 April 2025 to lodge.
These measures are in addition to our normal range of support options available should you, your clients or your practice need additional help.

How do I know if a client can lodge late without penalty?

If we have made a provision for your client to lodge late without penalty, there will be an indicator on their account. This can be identified by running an On-Demand Outstanding Lodgment Report for either Income Tax or Activity Statements in Online services for agents, or through your practice management software.

Details for running On-Demand reports in Online services for agents and practitioner lodgment service (PLS) – enabled software are available on our website.
MIL OSI News –
March 26, 2025
MIL-OSI USA: Warner, Tillis Introduce Legislation to Update Performing Artist Tax Deduction

US Senate News:

Source: United States Senator for Commonwealth of Virginia Mark R Warner

WASHINGTON – Today, U.S. Sens. Mark R. Warner (D-VA) and Thom Tillis (R-NC) introduced legislation to provide much-needed tax relief to working artists. The Performing Artist Tax Parity Act would update the Qualified Performing Artist (QPA) tax deduction, an above-the-line tax deduction which allows certain performing artists to deduct the cost of expenses incurred in the course of their employment.

The Qualified Performing Artist tax deduction has not been updated since its inception in 1986 and is currently only available to those making less than $16,000 a year, meaning that very few artists qualify. This legislation would update and increase the income ceiling to $100,000 for individuals and $200,000 for married joint filers, allowing more lower- and middle-income performing artists to receive tax relief for work-related expenses. This bill also indexes the deduction for inflation so it automatically adjusts for increases in the cost of living in the future.

“Middle class and up-and-coming artists have found their home in the Commonwealth making meaningful contributions to our rich culture,” Sen. Warner said. “This legislation levels the playing field for more artists by treating them like the small businesspeople they are, enriching our society and spurring our commerce.”

“The arts play a vital role in North Carolina’s culture and economy, yet many artists struggle with financial burdens that make it difficult to sustain their careers,” Sen. Tillis said. “By updating this outdated tax deduction, this commonsense legislation ensures that hardworking artists can deduct necessary expenses, just like other professionals. I’m proud to support this bipartisan effort to provide long-overdue tax relief to the creative community.”

Companion legislation was introduced in the House of Representatives on January 24, 2025, by Representatives Vern Buchanan (R-FL) and Judy Chu (D-CA).

The Performing Artist Tax Parity Act is endorsed by numerous organizations advocating for the rights of emerging artists, including the Actors’ Equity Association, the International Alliance of Theatrical Stage Employees, and the Recording Academy/GRAMMYs.

“We commend Senators Warner and Tillis for championing tax fairness for our members and all entertainment professionals. Their bipartisan leadership ensures our members’ voices continue to be heard on this critical issue. It’s time to lower the cost of living for entertainment workers by including PATPA in tax legislation expected later this year, correcting an oversight that has taken money out of the pockets of middle-class IATSE members since 2017,” said Matthew D. Loeb, International President of the International Alliance of Theatrical Stage Employees (IATSE).

“With just a few weeks until Tax Day, Senator Tillis and Senator Warner could not have better timed this critically important bipartisan bill that would mean actors, stage managers and other creative professionals won’t have to pay hundreds, and sometimes thousands of dollars more in taxes simply due to common business costs like their agents and managers fees and travel to auditions. I’m grateful for the leadership of Senator Tillis and Senator Warner and look forward to working with them as we fight to make this bill law,” said Brooke Shields, President of Actors’ Equity Association.

“Entertainment is one of the United States’ top industries, and the work of performing artists has made an immeasurable impact on our national identity. It’s time for the tax code to address the skyrocketing business costs of this highly risky profession and allow performers to deduct legitimate expenses such as agent and manager fees. This will enable working-class performers to continue supporting local economies that generate income from performers living and working in their communities. SAG-AFTRA enthusiastically supports the reintroduction of the bipartisan Performing Artist Tax Parity Act in the Senate and applauds Sens. Tillis and Warner for their work in addressing the financial challenges of those who dedicate their lives to human artistry,” said Fran Drescher, President of SAG-AFTRA.

“The Performing Artist Tax Parity Act (PATPA) is a critical step toward restoring financial fairness for performing artists across the country. For too long, we’ve been unfairly burdened by a tax system that fails to recognize the realities of our profession. This legislation paves the way for artists to be treated less like expendable contractors and more like the vital parts of an institution that we are. It’s an important step toward ensuring that performing artists are no longer penalized for the cost of doing our jobs and toward a future where we receive the same workplace protections and benefits as others who work within the companies we sustain,” said Ned Hanlon, President of the American Guild of Musical Artists.

“Addressing the unique challenges artists and musicians face under the tax code is imperative to supporting the creative community’s impact on culture and the economy. RIAA appreciates Senators Warner and Tillis’ continued leadership driving the bipartisan, bicameral Performing Artist Tax Parity Act. This bill is designed to balance outdated burdens on performers now and enable the next generation to thrive,” said Mitch Glazier, Recording Industry Association of America (RIAA) Chairman & CEO.

“The Motion Picture Association thanks Sens. Thom Tillis and Mark Warner for re-introducing the Performing Artist Tax Parity Act (PATPA) – an important bipartisan effort to deliver essential economic relief to a creative community that includes more than 2.3 million jobs supported by the film, television, and streaming industry. The MPA is again proud to endorse this legislation and support the American creative economy,” said Charles Rivkin, Chairman and CEO of the Motion Picture Association.

“The bipartisan and bicameral Performing Artist Tax Parity Act is commonsense legislation that benefits working musicians. PATPA makes long overdue updates to restore the intention our tax code. We are grateful to Senators Tillis and Warner for championing fairness for all performing artists and arts workers,” said Tino Gagliardi, President of the American Federation of Musicians.

“Supporting working artists through tax relief creates ripple effects that build more vibrant communities across the country. Beyond the arts and culture sector’s $1.1 trillion economic impact, one of the largest public opinion studies ever conducted on the arts in the U.S. found that 86% of Americans believe arts and culture improve their community’s quality of life and livability. By modernizing the tax code nationally, we can support artists and strengthen every community. We applaud Senators Warner and Tillis for introducing the Senate companion to the Performing Arts Tax Parity Act, alongside the House bill championed by Representatives Buchanan and Chu, to modernize an outdated tax code that hasn’t been updated since 1986,” said Erin Harkey, CEO, Americans for the Arts.

“Musicians nationwide are essential contributors to the U.S. workforce and the communities in which they perform,” said Simon Woods, President and CEO, League of American Orchestras. “We are grateful for the leadership of Senators Tillis and Warner in re-introducing this critical legislation to support tax fairness for performing artists.”

“The Performing Artist Tax Parity Act (PATPA) is a lifeline for the artists who bring independent stages to life. The Senate is taking an important step toward building a fairer, more sustainable live ecosystem that benefits independent stages, artists, audiences, and communities alike. We hope that Congress will move quickly to enact PATPA this year,” said Stephen Parker, Executive Director of the National Independent Venue Association.

“Virginians for the Arts is grateful to Senator Warner for his unwavering support of the arts and artists here in Virginia and nationally. We are also grateful to the Senator for sponsoring the Performing Artist Tax Parity Act. This legislation modernizes the qualified performing artist tax deduction and is an important recognition of the value the arts play in our communities and the economy,” said Brett Bonda, President of Virginians for the Arts.

“Aligned with its mission to advance the performing arts in the Richmond region through programs and resources that support the artists of today, nurture the artists of tomorrow, and provide spaces for the arts to thrive, Richmond Performing Arts Alliance (RPAA) fully endorses the bipartisan Performing Artist Tax Parity Act (PATPA). This legislation is critical for RPAA’s vision to create a vibrant community where the performing arts flourish and strengthen Richmond’s cultural, social, and economic vitality. We strongly believe that for this to happen artists from all backgrounds must have the capacity and resources to grow their programs and reach new audiences. We thank Senators Warner and Tillis for introducing this legislation and realizing the tremendous investment that artists make in their work and the incredible contributions they make to our lives,” said Abbi Haggerty, Ph.D., Executive Director of the Richmond Performing Arts Alliance.

A copy of the bill text can be found here.

MIL OSI USA News –

March 26, 2025
MIL-OSI Canada: Government of Saskatchewan Introduces PST on Vapour Products

Source: Government of Canada regional news

Released on March 25, 2025

Today, the Government of Saskatchewan introduced amendments to The Provincial Sales Tax Act, 2025 to remove the provincial sales tax (PST) exemption on vapour products. Effective June 1, 2025, the provincial sales tax rate of six per cent will apply to all vapour products in addition to the existing vapour products tax.

“Today’s amendment exemplifies our government’s commitment to fair tax administration,” Deputy Premier and Finance Minister Jim Reiter said. “Shortly, equivalent taxation will apply to all vapour and tobacco products sold in Saskatchewan. This will help discourage the use of these products, especially among youth, who are at risk of long-term, negative health impacts.”

Initially announced as part of the 2025-26 Budget, the PST on vapour products is anticipated to increase PST revenues by $3 million annually. However, the benefits are expected to reach far beyond tax revenue.

Nicotine exposure is known to harm healthy brain development in youth and young adults, which can lead to problems with learning, memory and mood and can increase the risk of addiction to other substances.

“We applaud the Saskatchewan Government for its recent announcement that a provincial sales tax will be added to all vapour products,” Lung Saskatchewan President and CEO Erin Kaun said. “Increased taxation is one of the most effective strategies in reducing consumption, particularly among youth. We look forward to continuing to work with the government to support a healthier Saskatchewan.”

-30-

For more information, contact:

MIL OSI Canada News –

March 26, 2025
MIL-OSI USA: DLNR News Release – INFRASTRUCTURE REPAIRS AND MAINTENANCE FOR MAUI STATE FOREST RESERVES SCHEDULED IN APRIL, March 24, 2025

Source: US State of Hawaii

DLNR News Release – INFRASTRUCTURE REPAIRS AND MAINTENANCE FOR MAUI STATE FOREST RESERVES SCHEDULED IN APRIL, March 24, 2025

Posted on Mar 24, 2025 in Latest Department News, Newsroom

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

DEPARTMENT OF LAND AND NATURAL RESOURCES

KA ‘OIHANA KUMUWAIWAI ‘ĀINA

JOSH GREEN, M.D.
GOVERNOR

DAWN CHANG
CHAIRPERSON

INFRASTRUCTURE REPAIRS AND MAINTENANCE FOR MAUI STATE FOREST RESERVES SCHEDULED IN APRIL

FOR IMMEDIATE RELEASE

March 24, 2025

KAHULUI – Sites in upcountry Maui will close for the month of April to allow for trail repairs and fuel mitigation work. The DLNRDivisions of Forestry and Wildlife (DOFAW) and State Parks (DSP) will close the Kula State Forest Reserve, Waipoli Access Road, Kahikinui Forest Reserve – Papaʻanui Tract, and Polipoli Spring State Recreation Area (SRA) from Tuesday, April 1, 2025 through Wednesday, April 30, 2025 to allow for work to be completed.

Any forest or park permits for Polipoli Spring SRA for that period are being canceled. All roads, hunting areas, trails and facilities and activities including hiking, biking, camping and hunting that are associated with these areas will be affected by these closures.

The Waipoli Access Road will be closed from the Waipoli access road gate (white) to the Skyline Trailhead gate.

For more information, contact the Maui Division of Forestry and Wildlife (DOFAW) office at 808-984-8100. To report violations, the public is advised to contact the Division of Conservation and Resources Enforcement (DOCARE) at 808-873-3990. Closure dates and times may be subject to change on short notice.

# # #

Media Contact:

Patti Jette

Communications Specialist

Hawai‘i Dept. of Land and Natural Resources

808-587-0396

Email: [email protected]

MIL OSI USA News –

March 26, 2025
MIL-OSI Russia: Financial News: 300th Anniversary of Bering’s Expedition (03/25/2025)

Translartion. Region: Russians Fedetion –

Source: Central Bank of Russia –

Three hundred years ago, Russian officer and navigator Vitus Bering set out on a scientific expedition. It was organized by order of Peter I to study the northeast of Russia and search for an isthmus or strait between Asia and America. To mark this event, on March 26, 2025, the Bank of Russia will issue a commemorative silver coin of 3 rubles “300th Anniversary of the Beginning of the First Kamchatka Expedition of V. Bering” from the “Historical Events” series (catalog No. 5111-0515).

The silver coin with a face value of 3 rubles (pure precious metal weight – 31.1 g, alloy fineness – 925) has the shape of a circle with a diameter of 39.0 mm.

There is a raised edge around the circumference of both the front and back sides of the coin.

On the obverse of the coin there is a relief image of the State Emblem of the Russian Federation, there are inscriptions: “RUSSIAN FEDERATION”, “BANK OF RUSSIA”, the coin denomination “3 RUBLES”, the date “2025”, the designation of the metal according to the Periodic Table of Elements of D.I. Mendeleyev, the alloy fineness, the trademark of the St. Petersburg Mint and the mass of the precious metal in purity.

The reverse side of the coin depicts the boat “Saint Gabriel” sailing on the waves, against the background of a map with the route of the Kamchatka expedition plotted on it, on the right there is a symbolic image of a wind rose; there are inscriptions: on the left in two lines – “BOAT ST. GAVRIIL”, at the bottom in a cartouche in four lines – “FIRST KAMCHATKA EXPEDITION OF V. BERING”, to the left and right of the cartouche are the dates “1725” and “1730”. The images of the boat, the territory of Russia, the crest of the wave and the wind rose, as well as the inscriptions and dates are made in relief. The images of the American territory, the route of the expedition and the waves are made using laser matting technology.

The side surface of the coin is ribbed.

The coin is made in proof quality.

The mintage of the coin is 3.0 thousand pieces.

The issued coin is a legal tender in the territory of the Russian Federation and must be accepted at face value for all types of payments without restrictions.

When using the material, a link to the Press Service of the Bank of Russia is required.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

HTTPS: //vv. KBR.ru/Press/PR/? File = 638785165481061894KOins. CHTM

MIL OSI Russia News –

March 26, 2025
MIL-OSI USA: Protecting America’s Bank Account Against Fraud, Waste, and Abuse

US Senate News:

Source: The White House
class=”has-text-align-left”> By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
Section 1. Purpose. Promoting financial integrity and operational efficiency are critical responsibilities of the Federal Government. The Federal Government processes trillions of dollars annually in disbursements to individuals, businesses, and organizations, and in receipts from taxes, fees, and other payments to finance daily and long-term Government operations. These transactions flow into and out of the United States General Fund (General Fund), which might be thought of as America’s bank account. In Fiscal Year 2024, $33.9 trillion flowed into the General Fund and $33.6 trillion flowed out of the account, including $5.87 trillion (less net interest) in benefits, grants, loans, vendor payments, and other disbursements.
The Department of the Treasury is the largest financial payment manager of the Federal Government and is responsible for safeguarding the General Fund, but lacks sufficient controls to track transactions flowing through the General Fund to determine if they were proper. To enforce sufficient controls and ensure accountability to American taxpayers, the Department of the Treasury requires financial information from executive departments and agencies (agencies) beyond what they currently provide.
Financial fraud threatens the integrity of Federal programs and undermines trust in Government. Agencies’ past underinvestment in technology and longstanding challenges with access to accurate data has prevented them from more fully safeguarding taxpayer dollars against fraud and improper payments. The Government Accountability Office estimates that the Federal Government loses between $233 and $521 billion annually to fraud.
In addition to being an efficient steward of taxpayer funds, the Federal Government, on behalf of the American public, must seek to ensure that financial information is accurate and that there is transparency with respect to how taxpayer dollars are being used. Today, Federal funds are disbursed both by the Department of the Treasury and various Federal Government entities that are authorized to issue their own disbursements known as Non-Treasury Disbursing Offices (NTDOs). In Fiscal Year 2024, NTDOs were estimated to be responsible for 181 million payments totaling over $1.5 trillion (approximately 22 percent of all Federal Government dollars disbursed). This fragmentation of disbursing authority, together with the proliferation of non-standard financial management systems across the Federal Government, leads to expensive, disjointed, and duplicative financial reporting, lack of financial traceability, complicated financial management, opacity, increased operational risks, and decreased ability of the Department of the Treasury to provide centralized oversight.
This order promotes financial integrity by enabling the Department of the Treasury to more easily conduct improper payment and fraud prevention screening prior to disbursing funds on behalf of agencies. This order increases transparency and accountability by requiring agencies to provide the Department of the Treasury with the information needed to track transactions through the General Fund in greater detail. This order also promotes operational efficiency by returning disbursing functions to the Department of the Treasury when possible and consolidating and standardizing core Federal financial systems.
Sec. 2. Policy. It is the policy of the United States to defend against financial fraud and improper payments, increase transparency and accountability around the Federal Government’s operations and financial condition, increase efficiency, reduce costs, and enhance the security of Federal payments.
Sec. 3. Treasury Verification of Agency Payments Information. (a) The Secretary of the Treasury, in consultation with the Director of the Office of Management and Budget (OMB Director), shall update guidance and enhance systems to ensure that all payments made by the Department of the Treasury on behalf of agencies pursuant to the Secretary of the Treasury’s disbursing authority, including 31 U.S.C. 3321, are subject to pre-certification verification processes established by the Secretary of the Treasury and conducted by agencies and the Department of the Treasury for the purposes of defending against financial fraud and improper payments, to the greatest extent permitted by law. Such guidance shall set forth guidelines for compliance with the Do Not Pay Working System as described in 31 U.S.C. 3351 et seq., and such other payment, account, and payee validation programs and services that the Secretary of the Treasury and the OMB Director determine to be beneficial for reducing financial fraud and improper payments.
(b) In accordance with 31 U.S.C. 3354, the heads of all agencies shall cooperate with the Secretary of the Treasury to fulfill their obligations to determine payment or award eligibility through pre-certification and pre-award procedures, as determined by the Secretary of the Treasury, including pursuant to subsection (a) of this section and section 4 of this order to prevent fraud and improper payments.
(c) The Secretary of the Treasury is directed to minimize administrative barriers to accessing and using data to prevent fraud and improper payments by exercising the authority in 31 U.S.C. 3351 et seq. to waive the requirements of 5 U.S.C. 552a(o), in consultation with the OMB Director, in any case or class of cases for computer matching activities, to the extent permissible by law.
(d) Within 90 days of the date of this order, agency heads shall review and modify, as applicable, their relevant system of records notices under the Privacy Act of 1974 to include a “routine use” that allows for the disclosure of records to the Department of the Treasury for the purposes of identifying, preventing, or recouping fraud and improper payments, to the extent permissible by law.
(e) The Secretary of the Treasury, in consultation with the OMB Director, shall issue guidance to agency heads on the circumstances in which agency heads, to the extent permissible by law, may provide the Secretary of the Treasury with access to data necessary for the purposes of detecting and preventing fraud and improper payments, as well as data for payment information verification (and not, for example, data such as health records).
Sec. 4. Implementation and Compliance of Payment Verification. (a) Agency heads, through designated agency officials (Certifying Officers or COs), who are responsible for verifying that disbursements made by the Federal Government are legal, proper, and correct, and for performing the duties in 31 U.S.C. 3528, shall comply with the disbursement requirements and instructions, including pre-certification requirements, published by the Secretary of the Treasury.
(b) The Secretary of the Treasury shall consider, as appropriate, issuing instructions to agencies to enforce the following pre-certification criteria for disbursement requests submitted by COs (Vouchers) before they are certified for payment by the CO:
(i)     Funds are available at the time the obligation is incurred. If an obligation is incurred when funds are not available, then the CO shall not certify the payment.
(ii)    The amount of the payment and the name of the payee on the Voucher are correct, in conformance with the Department of the Treasury’s prescribed standard format.
(iii) A proper Social Security Number, Taxpayer Identification Number, Employer Identification Number, Individual Taxpayer Identification Number, or Payee ID Number is provided for each payee on the Voucher, as applicable.
(iv)    The appropriation or fund from which the payment will be made is available for the purpose set forth in the Voucher and indicated with the appropriate Treasury Account Symbol/Business Event Type Code.
(v)     Payees are not deceased individuals, to the greatest extent permitted by law.
(vi)    The account number provided on the Voucher is held at a financial institution and is open, valid, and belongs to the payee or valid designee of payee.
(vii)   Contracts or agreements are referenced on the Voucher by providing the contract number, referred to as the Procurement Instrument Identifier, where applicable.
(viii) Financial assistance awards (non-aggregate) are referenced on the Voucher by providing the award number, referred to as the Federal Award Identification Number, where applicable.
(ix)   For summary schedules, the payments on the Voucher are submitted in conformance with the Department of the Treasury prescribed standard formats for such schedules.
(c) Agency heads shall submit payment files other than with respect to same-day payments to the Secretary of the Treasury or the Secretary’s designee with sufficient lead time prior to the date of disbursement as determined by the Department of the Treasury and provided in the requirements and instructions issued pursuant to subsections (a) and (b) of this section, to allow for fraud and improper payment screening, to the extent permissible by law. With respect to same-day payments, agency heads shall submit payment files to the Secretary of the Treasury or the Secretary’s designee as much in advance as reasonably practicable.
(d) In issuing requirements and instructions pursuant to subsection (a) of this section, the Secretary of the Treasury shall consider whether it would be appropriate to provide that the Department of the Treasury’s Chief Disbursing Officer return to the relevant agency for reconciliation any payments that do not pass the pre-certification verification processes established pursuant to section 3(a) of this order and notify the designated CO.
(e) The Secretary of the Treasury shall include in the guidance issued pursuant to subsection (a) of this section, or in other regulations or guidance, a transparent process for agencies to request exemptions from some or all of the payment verification requirements for specific payments or categories of payments.
Sec. 5. Core Financial System Consolidation. (a) Within 180 days of the date of this order, the OMB Director shall issue guidance that directs agencies described in 31 U.S.C. 901(b) (CFO Act agencies) to consolidate their core financial systems.
(b) As soon as practicable, but not later than 180 days of the date of this order, the OMB Director, in consultation with the Secretary of the Treasury, shall issue guidance directing all non-CFO Act agencies to consolidate transactional financial management services under a single provider approved by the Department of the Treasury.
(c) As soon as practicable, all heads of CFO Act agencies shall use standard financial management solutions available through the Financial Management Marketplace, administered by the Financial Management Quality Service Management Office.
(d) Agency heads shall ensure that core financial systems comply with Federal accounting and financial reporting standards and relevant regulations, orders, guidance documents, policy statements, and other agency actions published by the Department of the Treasury from time to time.
Sec. 6. Reduction of NTDOs. (a) Within 30 days of the date of this order, the Secretary of the Treasury shall assess whether to maintain disbursing authority that it has delegated to agencies pursuant to 31 U.S.C. 3321(b) and issue notices to revoke such delegations, as appropriate, in accordance with applicable law.
(b) The heads of agencies with disbursing authority under 31 U.S.C. 3321(c), including the Secretary of Defense, the Secretary of Homeland Security, and the Attorney General (but excluding, for the avoidance of doubt, the Supreme Court and other entities of the Federal Government outside the Executive Branch) will work with the Secretary of the Treasury to delegate the performance of their disbursing activities, other than with respect to classified payments, to the Department of the Treasury’s Chief Disbursing Officer in accordance with applicable law.
(c) Notwithstanding subsections (a) or (b) of this section, the Secretary of the Treasury may continue to delegate disbursing authority to NTDOs at other agencies when doing so would align with significant Government priorities. Any remaining NTDOs are required to report daily to the Department of the Treasury’s centralized accounting and reporting system in accordance with then-current Department of the Treasury guidance and applicable law.
(d) The Secretary of the Treasury shall develop a plan to centralize and manage all payments previously disbursed by NTDOs, ensuring seamless continuity of Government payments.
(e) The Secretary of the Treasury, in coordination with agency heads, shall establish a transition plan for agencies currently operating as NTDOs, including staffing adjustments, system integrations, and legal or regulatory modifications necessary for full consolidation.
(f) The heads of agencies with disbursing authority delegated to the agency under 33 U.S.C. 3321(b) shall decommission all internal payment systems and use the Department of the Treasury’s disbursement systems, except and to the extent authorized by the Department of the Treasury or otherwise required by applicable law.
Sec. 7. Reporting and Implementation Requirements. (a) The heads of all agencies shall submit a compliance plan to the OMB Director within 90 days of the date of this order detailing their strategy for:
(i)    transitioning disbursing authority to the Department of the Treasury, as applicable and as contemplated by this order;
(ii)   updating and integrating systems with Department of the Treasury platforms;
(iii) procedures to verify payment information as contemplated by this order; and
(iv)   transmitting information associated with improper payments to the Department of the Treasury in accordance with standards and reporting specifications established by the OMB Director in coordination with the Secretary of the Treasury as contemplated by this order.
(b) The Secretary of the Treasury shall submit an implementation report to the President through the Assistant to the President for Economic Policy within 180 days of the date of this order detailing progress on the matters set forth in this order.
(c) The Secretary of the Treasury and agency heads shall take all necessary steps to protect classified information and systems, as well as personally identifiable information and tax return information, through the implementation of this order.
Sec. 8. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i)   the authority granted by law to an executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
DONALD J. TRUMP
THE WHITE HOUSE,
    March 25, 2025.

MIL OSI USA News –

March 26, 2025
MIL-OSI Security: Two Plead Guilty to Roles in COVID-19 Fraud Conspiracy

Source: Office of United States Attorneys

CHARLESTON, W.Va. – Today, William Powell, 34, of Huntington, pleaded guilty to conspiracy to commit bank fraud, and Jasmine Spencer, 32, of Charleston, pleaded guilty to aiding and abetting bank fraud. Powell and Spencer each received $15,625 in proceeds from criminally derived Paycheck Protection Plan (PPP) loans, guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

According to court documents and statements made in court, co-defendant Kisha Sutton conspired with Powell, Spencer, and others to obtain fraudulent PPP loans. Sutton submitted a PPP loan application on Powell’s behalf on April 19, 2021, and a PPP loan application on Spencer’s behalf of May 27, 2021. Powell and Spencer were each listed as a sole proprietor hair stylist who received $75,000 in gross income in 2020. Each application was filed with an Internal Revenue Service (IRS) Form 1040, Schedule C Profit or Loss from Business, stating that the applicant had earned $75,000 in 2020. As part of their guilty pleas, Powell and Spencer admitted that they never earned $75,000 as a hair stylist in one year and that the IRS Form 1040 submitted with their application was fraudulent and created solely to obtain the PPP loan.

A PPP lender in Florida approved Powell’s loan application and a PPP lender in California approved Spencer’s. The $15,625 in proceeds from each loan was deposited in their respective personal bank accounts in late June 2021. Between June 30 and July 20, 2021, Sutton received $2,000 from Powell and $3,000 from Spencer as her shares of the fraudulent PPP loan proceeds. Powell and Spencer each transferred the money to Sutton using a digital wallet application. Powell and Spencer spent the remainder of their respective fraudulent loan proceeds on personal expenses.

The CARES Act made forgivable PPP loans available to qualifying sole proprietors, independent contractors and self-employed individuals adversely impacted by the COVID-19 pandemic, to replace their normal income and for certain other expenses. Applicants were required to certify that they were in operation on February 15, 2020, and provide documentation showing their prior gross income from either 2019 or 2020.

Powell is scheduled to be sentenced on July 2, 2025, and Spencer is scheduled to be sentenced on July 9, 2025. Each faces a maximum penalty of 30 years in prison, up to five years of supervised release, and a $1 million fine. Powell and Spencer each also owe $15,625 in restitution.

Powell, Spencer, and Sutton, 44, of Jersey City, New Jersey, are among seven individuals indicted by a federal grand jury on charges alleging they and others conspired, as well as aided and abetted one another, to obtain fraudulent PPP loans totaling $140,625. The indictment against Sutton and the other defendants remains pending. An indictment is merely an allegation and all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Federal Bureau of Investigation (FBI), the West Virginia State Police – Bureau of Criminal Investigation (BCI), and the West Virginia State Auditor’s Office (WVSAO) Public Integrity and Fraud Unit (PIFU).

United States District Judge Irene C. Berger presided over the hearings. Assistant United States Attorneys Jonathan T. Storage, Jennifer D. Gordon, and Holly Wilson are prosecuting the case.

Individuals with information about allegations of fraud involving COVID-19 are encouraged to report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721, or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-192.

###

MIL Security OSI –

March 26, 2025
MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025: Congo Offers Attractive Tax Policies for Oil & Gas (O&G) Investors

Source: Africa Press Organisation – English (2) – Report:

BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

The Republic of Congo’s Ministry of Hydrocarbons has announced it is working to improve the attractiveness of taxation in the hydrocarbons sector to fully realize the potential of the country’s hydrocarbons market.

Speaking during the Technical Conference at the inaugural Congo Energy & Investment Forum (CEIF) – From Resources to Revenue: Developing the Republic of Congo’s Gas Sector – Jean-Jacques Ikama, Director General of Oil Economy, Audit and Trading, Ministry of Hydrocarbons, Congo explored the conditions and mechanisms for companies entering the country’s oil and gas sector.

“Oil and gas activities can serve as a basis for the creation and operationalization of a very dynamic local market,” stated Ikama, adding, “We aim to redefine the hydrocarbons sector in our country and improve the conditions of exploration and production.”

In addition to good taxation conditions and guaranteed frameworks, Congo has taken proactive steps to enhance its energy sector’s appeal to investors. The government will launch a new licensing round at CEIF, targeting accelerated oil and gas exploration and production activities.

Meanwhile, Congo’s parastatal Société Nationale des Pétroles du Congo is set to release its Gas Master Plan at CEIF 2025. The plan aims to advance the country’s gas monetization agenda by catalyzing new infrastructure development, including gas pipelines, processing facilities and gas-to-power plants. The plan also seeks to reduce energy imports and raise electricity access, which currently stands at 50%.

A new Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms and resource management. The draft was presented to gas companies in late 2023 and is set for final approval in the coming months.

Key gas monetization initiatives in the country include energy major Eni’s Congo LNG project and Chinese developer Wing Wah’s Banga Kayo project. These projects highlight the country’s dedication to advancing its energy infrastructure and diversifying revenue streams within the sector.

These efforts positions Congo as an increasingly competitive and attractive destination for global energy investments.

MIL OSI Africa –

March 26, 2025
MIL-OSI Security: Principals of Fire Alarm Repair Company Plead Guilty to Decade-Long Scheme to Defraud New York City Agencies
Source: Office of United States Attorneys

Defendants Overbilled City Agencies Using Fabricated Invoices with Fraudulently Inflated Prices and Shell Companies
Earlier today, in federal court in Brooklyn, Walter Stanzione and William Neogra, the principals of a fire alarm maintenance company, pleaded guilty to wire fraud conspiracy. Both defendants were charged with a decade-long scheme to defraud the City of New York by seeking payment on millions of dollars of grossly inflated fraudulent bills. The proceedings were held before United States Magistrate Judge Joseph A. Marutollo. When sentenced, each defendant faces up to 20 years in prison.

John J. Durham, United States Attorney for the Eastern District of New York, Leslie R. Backschies, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), Jocelyn E. Strauber, Commissioner, New York City Department of Investigation (DOI) and Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI New York) announced the charges.

“For over a decade, the City of New York relied on the defendants to ensure that the fire safety systems in hundreds of city buildings were in safe, working order,” stated United States Attorney Durham. “The defendants abused this position of trust so that they could scheme and steal, defrauding New York City out of millions of dollars. The guilty pleas announced today make clear that reprehensible conduct like this will be uncovered and prosecuted.”

“Millions of dollars went up in smoke as Walter Stanzione and William Neogra fraudulently inflated the cost of their company’s products to finance personal luxurious purchases,” stated Acting FBI Assistant Director in Charge Backschies. “For more than ten years, the defendants charged various New York City clients exaggerated pricing for fire alarm systems and obfuscated this misconduct through doctored invoices. The FBI remains determined to protect our city’s citizens and infrastructure from criminals seeking to unlawfully profit with little concern for safety.”

“Stanzione and Neogra orchestrated a scheme to defraud the City of New York. They created shell companies to pass-through supplies sold to NYC agencies at inflated prices with false invoices. Millions of dollars were billed over a decade, and the excessive profit left these fraudsters living large. Today’s plea means the defendants’ lifestyle will go from extravagant in size to a reduction in square feet,” stated IRS-CI New York Special Agent in Charge Chavis.

“These defendants systematically inflated costs billed to multiple City agencies—including the Department of Citywide Administrative Services, the Department of Education, the Department of Environmental Protection, and the Department of Sanitation, for more than a decade,” stated DOI Commissioner Strauber. “When vendors exploit their contractual relationship with the City by overbilling, they steal public funds from City taxpayers. I thank our federal law enforcement partners for their commitment to protect the City’s resources and to ensure vendors who commit fraud are held responsible.”

As set forth in various public court filings and in today’s proceedings, the defendants exercised control over Fire Alarm Electrical Corp., a company that held numerous contracts with New York City agencies to repair and maintain fire alarm systems. For more than a decade, the defendants overbilled those agencies by submitting fraudulent invoices with dramatically inflated prices. They accomplished this scheme in several ways:
- The defendants created numerous shell companies that were secretly owned by defendant Stanzione. After purchasing supplies from legitimate retailers, the defendants would re-invoice the parts through the shell companies for roughly three to five times the real purchase price, ultimately passing along those “costs” to the City.
- The defendants took advantage of pre-existing shell companies that were being used in other ongoing frauds. For example, the defendants used shell companies created by convicted EDNY defendant David Motovich, which Motovich had used in an entirely separate fraud scheme that was also investigated and prosecuted by EDNY, FBI, DOI and IRS (21-CR-497).
- When city auditors became suspicious of the shell companies, the defendants fraudulently modified the documents of legitimate retailers, passing off the altered invoices from these companies as if they were genuine.
These methods enabled the defendants to submit millions of dollars of fictitious payment requests to four separate city agencies over an eleven-year period. Defendant Stanzione, the leader of the fraud, then siphoned off much of the ill-gotten gains and used the stolen money to fund his family’s lavish spending habits.

The government’s case is being handled by the Office’s Public Integrity Section. Assistant United States Attorneys Erik Paulsen, Michael Gibaldi and Eric Silverberg are in charge of the prosecution, with the assistance of Paralegal Specialist Kavya Kannan.

The Defendants:

WALTER STANZIONE
Age: 66
East Meadow, Long Island

WILLIAM NEOGRA
Age: 65
Millsboro, Delaware

E.D.N.Y. Docket No. 23-CR-482 (RPK)
MIL Security OSI –
March 26, 2025
MIL-OSI USA: Building A More Equitable Future for New York Workers

Source: US State of New York

overnor Kathy Hochul today recognized Equal Pay Day, marking the ongoing struggle against the gender wage gap and pledging to continue the fight for equal pay for all workers in New York State. Equal Pay Day symbolizes how far into the year women must work to earn what men earned in the previous year, highlighting that women are often paid less than their male colleagues. This disparity remains one of the foremost challenges facing the labor market across the State and nation. The New York State Department of Labor recently analyzed newly available data from 2023 and found that women working full-time, year-round in New York State were paid 87.3 cents for every dollar that men were paid. While there is still much more progress to be made to bridge the gap, New York’s gender wage gap is narrow compared to the national average of 81.1 cents per dollar. In fact, New York had the third smallest wage gap among states in the nation, behind Vermont and Rhode Island.

“Women are too often the first to care for a child or an aging parent, sacrificing their own financial security in the process and in New York we refuse to accept this as the status quo,” Governor Hochul said. “We are doing the hard work. We’ve enshrined abortion rights in our constitution, guaranteed women 20 hours of paid prenatal leave, expanded access to childcare, developed workforce development programs to expand opportunities for women and bolster our Minority and Women Owned Business Programs — because when women have the freedom and support to succeed, our entire economy grows. Equal pay isn’t just about fairness; it’s about building a stronger, more equitable future for all and as New York’s first woman Governor, this is a fight I look forward to winning.”

The New York State Department of Labor (NYSDOL) analysis also found that women of color continue to face even higher disparities, with Hispanic women and Black women earning 60.6 cents and 67.7 cents respectively for every dollar earned by white, non-Hispanic men. To put these numbers another way, a woman earning the median income in New York State ($62,111) earned $9,057 less than her male counterpart in 2023. If this wage gap were to remain unchanged, she would earn $362,280 less than a man earning the median wage over the course of a 40-year career.

New York State Department of Labor Commissioner Roberta Reardon said, “Equal Pay Day reminds us that more must be done to close the Gender Wage Gap. Although we have made significant progress, economic inequalities persist. The work of women continues to be undervalued and underpaid. That must change. Under Governor Hochul’s leadership, we will continue to advance efforts to eliminate all barriers preventing New Yorkers from reaching their full earning potential, regardless of gender.”

Since taking office, Governor Hochul has remained focused on taking nation-leading steps to close the Gender Wage Gap. Child care obligations remain a persistent contributing factor to the Gender Wage Gap. In her 2025 State of the State Address and Fiscal Year 2026 State Executive Budget Proposal, the Governor prioritized a number of family-focused initiatives designed to create a more equitable labor market. The establishment of the New York Coalition for Child Care, the creation of a child care substitute pool, and a $100 million child care construction fund to build new and renovate existing childcare facilities are all part of the Governor’s multi-year effort to move New York State closer to achieving universal child care, an essential step to ensure the full and equal participation of women in the workforce. Under Governor Hochul’s leadership, New York State has invested more than $7 billion to expand child care accessibility. Governor Hochul is also proposing a historic expansion of New York’s Child Tax Credit, impacting more than 1.5 million families and representing the single largest boost to the state’s child tax credit in history.

These proposals build on Governor Hochul’s prior actions to create a more equitable labor market. New York is now the first state in the nation to mandate 20 hours of Paid Prenatal Leave, ensuring that no pregnant worker needs to choose between a paycheck and a checkup. In 2024, New York expanded workplace rights by mandating paid time off for breast milk expression. Critically, both benefits are available for full and part-time workers, as studies show women are more likely than men to work part-time.

State Senator Jessica Ramos said, “I am proud of the work we have done in partnership with Governor Hochul to close the race and gender-based wage gap. New York has been a leader in improving salary transparency, equipping employers with the ability to attract top talent and qualified candidates, with the ability to negotiate for the wages and benefits they deserve. This is how we fight the feminization of poverty.”

Assemblymember Harry B. Bronson said, “As Chair of the Labor Committee, I fight hard every day for an equitable, inclusive economy, and we cannot have a fair economy without equitable pay for everyone. It’s time we put an end to the wage gap where women are paid less than their male counterparts for the same job. And for Black Women, Native American Women and Latina women – the pay gap is even more extreme. I will continue working with the Governor, NYSDOL, my legislative partners and the hardworking women of New York, to promote equity of opportunity to permanently end the wage disparity.”

The minimum wage in New York also continues to rise as part of Governor Hochul’s historic, multi-year agreement with the State Legislature. NYSDOL’s Gender Wage Gap Report found that the majority of minimum wage workers are women of color. By raising the minimum wage, New York continues to put money in the pockets of women across the state. At the same time, New York’s Pay Transparency law requires employers to include pay ranges on all job postings, empowering women to make better informed career decisions and ensure they are being paid fairly.

NYSDOL also continues to empower women via its Career Centers throughout the state. These centers offer career counseling, skills development, resume assistance, interview tips, and referrals to high-earning jobs at no cost to all New Yorkers. The Department also offers a salary negotiation guide to help New Yorkers maximize their earning potential.

As part of its effort to highlight and address the gender wage gap, NYSDOL continues to monitor and provide yearly updates on the state of pay equity in New York. This commitment ensures transparency and informs data-driven strategies to support a labor market that values and compensates all workers fairly.

For more information about the New York State Department of Labor’s initiatives to combat the gender wage gap and to support workforce equality, visit the Gender Wage Gap Hub.

MIL OSI USA News –

March 26, 2025
MIL-OSI Security: Indictment Charges Ellington Woman with Fraud and Tax Offenses

Source: Federal Bureau of Investigation (FBI) State Crime News

Marc H. Silverman, Acting United States Attorney for the District of Connecticut, Anish Shukla, Acting Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, and Harry Chavis, Special Agent in Charge of IRS Criminal Investigation in New England, today announced that a federal grand jury in Bridgeport has returned a 12-count indictment charging HEATHER MURDOCK, 57, of Ellington, with fraud and tax offenses stemming from an embezzlement scheme.

The indictment was returned on March 19, 2025. On March 20, Murdock appeared before U.S. Magistrate Judge Thomas O. Farrish in Hartford, pleaded not guilty to the charges, and was released on a $40,000 bond.

As alleged in the indictment, Murdock was employed as the bookkeeper and office manager at a Hartford law firm, identified in court documents as “Firm A.” Between approximately 2010 and 2022, using Firm A’s bookkeeping software, Murdock generated hundreds of false checks made payable to herself and on which she forged the signature of Firm A’s owner. To conceal her embezzlement, Murdock doctored the bookkeeping system entries to make it appear that the checks had been issued to legitimate vendors. Murdock deposited the forged checks into her own bank account. Murdock stole approximately $583,953 through this scheme.

The indictment also alleges that Murdock stole cash rental payment made by tenants of properties owned by Firm A’s owner. To conceal her theft, Murdock generated false checks from Firm A’s bank account payable to the account in which Firm A’s owner received rental income, making it appear that the expected deposits of rental income had been made, and doctored references in the firm’s bookkeeping system. Murdock stole approximately $251,314 through this scheme.

The indictment further alleges that Murdock failed to pay federal income taxes on the embezzled funds and her wages from Firm A for the 2013 through 2022 tax years, and that she substantially underreported her income in 2011 and 2012. Murdock’s underreported tax obligations total $248,294.

The indictment charges Murdock with five counts of bank fraud, an offense that carries a maximum term of imprisonment of 30 years on each count; two counts of wire fraud, an offense that carries a maximum term of imprisonment of 20 years on each count; and five counts of tax evasion, an offense that carries a maximum term of imprisonment of five years on each count.

Acting U.S. Attorney Silverman stressed that an indictment is not evidence of guilt. Charges are only allegations, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

This investigation is being conducted by the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation Division. The case is being prosecuted by Assistant U.S. Attorney Elena L. Coronado.

MIL Security OSI –

March 26, 2025
MIL-OSI Security: Hollywood Hills Man Sentenced to Nearly Three and One Half Years in Federal Prison for Paying Nearly $2.9 Million in Kickbacks for Drug Addiction Patient Referrals

Source: Federal Bureau of Investigation (FBI) State Crime News

LOS ANGELES – A Hollywood Hills man was sentenced today to 41 months in federal prison for paying illegal kickbacks for patient referrals to his addiction treatment facilities located in Orange County.

Casey Mahoney, 48, was sentenced by United States District Judge Josephine L. Staton, who also fined him $240,000.

At the conclusion of a nine-day trial in September 2024, a jury found Mahoney guilty of one count of conspiracy to solicit, receive, pay, or offer illegal remunerations for patient referrals and seven counts of receiving illegal kickbacks for patient referrals.

“This defendant illegally profited millions of dollars off of addicts who desperately needed help,” said Acting United States Attorney Joseph McNally. “Bribes and kickbacks compromise the integrity of substance abuse treatment facilities and undermine patient care. As the sentence imposed today demonstrates, those that engage in body brokering will go to federal prison.”

The charges relate to Mahoney’s operation of two addiction treatment facilities: the Huntington Beach-based Healing Path Detox LLC, and the San Juan Capistrano-based Get Real Recovery Inc.

From at least October 2018 to December 2020, Mahoney paid nearly $2.9 million in illegal kickbacks to so-called “body brokers” who referred patients to Mahoney’s addiction treatment facilities. Those body brokers in turn paid thousands of dollars in cash to patients. Brokered patients sometimes were dropped off at motels in Orange County and introduced to drug dealers. Some of these patients later overdosed and died.

Brokers also arranged for patients to receive drugs to make them eligible for more lucrative levels of care at Mahoney’s facilities. Mahoney paid one broker $140,000 per month for additional patients despite knowing that brokers offered to get some patients high. Mahoney also requested that his employees send brokers to track down former patients with lucrative insurance policies, which he called his “most wanted list.”

Throughout the scheme, Mahoney concealed the illegal kickbacks by entering into sham contracts with the body brokers which purportedly required fixed payments and prohibited payments based off of the volume or value of the patient referrals.

In reality, Mahoney and the brokers negotiated payments based on the patients’ insurance reimbursements and the number of days Mahoney was able to bill for treatment.

The FBI and IRS Criminal Investigation investigated this matter. The California Department of Insurance provided valuable assistance.

Assistant United States Attorney Nandor F.R. Kiss of the Orange County Office and Justice Department Trial Attorney Siobhan M. Namazi of the Criminal Division’s Fraud Section prosecuted this case.

Mahoney’s conviction arose out of violations of the Eliminating Kickbacks in Recovery Act (EKRA). EKRA was enacted in October 2018 as part of comprehensive legislation designed to address the opioid crisis and to target the rise in body brokering and substance abuse facility profiteering.

The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,000 defendants who collectively have billed federal health care programs and private insurers more than $24.7 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with the Office of the Inspector General for the Department of Health and Human Services, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

MIL Security OSI –

March 26, 2025
MIL-OSI USA: Ricketts Introduces Two Bills to Cut Taxes on Social Security, Military Retirement Benefits

US Senate News:

Source: United States Senator Pete Ricketts (Nebraska)
WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE) introduced two bills to cut federal taxes on Social Security and military retirement benefits. The Social Security Check Tax Cut Act would begin phasing out federal taxes on Social Security benefits. The bipartisan Tax Cuts for Veterans Act,introduced with Senator Jacky Rosen (D-NV), would eliminate the federal tax on military retirement benefits. The bills are modeled after successful efforts to eliminate state taxes on similar benefits when Ricketts was Governor of Nebraska.
“Social Security and veterans’ benefits should be completely tax-free,” said Senator Ricketts. “We need to provide relief at the federal level, just like we did in Nebraska. My bills will boost retirement income and ensure seniors and veterans keep more of their hard-earned money – just as President Trump promised.”
“Veterans in Nevada and across our nation have made huge sacrifices to keep our nation safe, and the least we can do is ensure they can retain all of their retirement pay,” said Senator Rosen of the Tax Cuts for Veterans Act. “We’re introducing this bipartisan bill to make military retirement pay tax-free, giving the heroic men and women who served in our military greater financial relief and stability.”
The bills were first covered by Punchbowl News here. Senator Ricketts will discuss the bills in his weekly press conference call with Nebraska media tomorrow.
BACKGROUND ON SOCIAL SECURITY CHECK TAX CUT ACT:
From its creation in 1935, Social Security has been the backbone of most Americans’ retirement plans. According to the Social Security Administration, nearly nine out of ten people aged 65 and older received a Social Security benefit as of June 30 of this year. From 1935 until 1983, Social Security benefits were untaxed, recognizing that workers already paid into Social Security via the payroll tax each pay period. In 1983, 50% of Social Security benefits became taxable. In 1993, President Bill Clinton signed a bill into law making 85% of benefits taxable.
As Governor in 2022, Ricketts signed LB873 into law to phase in the elimination of state taxes on Social Security benefits over a period of years. The Social Security Check Tax Cut Act would similarly phase out federal taxes on Social Security benefits, beginning with a 10% cut in year one and increasing to 20% in year two. Congress can continue phasing out the tax by 10% a year and make all Social Security income tax free by 2035. Bill text can be found here.
BACKGROUND ON TAX CUTS FOR VETERANS ACT
Around 117,000 veterans live in Nebraska. As Governor in 2021, Ricketts signed LB387 into law to eliminate state taxes on military retirement benefits. The bipartisan bill passed 47-0.
The Tax Cuts for Veterans Act would provide real financial relief for veterans and their families. The savings per veteran would vary depending on their earned retirement pay. An enlisted soldier, sailor, airman, marine, guardsman, or guardian who served for 20 years could save over $500 per month and over $6,000 per year. Bill text can be found here.

MIL OSI USA News –

March 26, 2025
MIL-OSI USA: Ernst Outlines Major Reform to America’s “Least Favorite Government Agency”

US Senate News:

Source: United States Senator Joni Ernst (R-IA)
Published: March 25, 2025
WASHINGTON – With just three weeks until Tax Day, U.S. Senator Joni Ernst (R-Iowa) outlined a proposal of major reforms for the Internal Revenue Service (IRS) to cut down on costs, increase efficiency, and better serve taxpayers.
“Americans, and their elected representatives in Congress, have lost confidence in the IRS. But you have a unique opportunity to address these issues, which can be accomplished without any changes in law,” wrote Ernst in a letter to Treasury Secretary Scott Bessent.
Ernst’s three main recommendations to improve America’s “least favorite government agency” include ending the political weaponization of the agency, cracking down on tax-dodging bureaucrats, and bringing the agency’s tech, costing $3.6 billion annually, out of the stone age and into the 21st century.
Click here to read the full letter.
Background:
Senate DOGE Caucus Chair Ernst has repeatedly targeted IRS tax cheats and costly software across government.
Additionally, Ernst exposed that 5,800 IRS and contractor employees owe nearly $50 million in overdue taxes in July 2024, and a follow-up report revealed that more 800 IRS employees still owed millions in back taxes as of November, 2024.
Ernst’s $2 trillion roadmap to cut waste highlighted that government-wide there are nearly 150,000 tax cheats owing $1.5 billion in unpaid taxes.

MIL OSI USA News –

March 26, 2025
MIL-OSI: VERB Publishes Management’s Prepared Remarks During Fourth Quarter and Full Year 2024 Earnings Call

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS and LOS ALAMITOS, Calif., March 25, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show, today filed its Form 10-K reporting financial and operating results for the full year and the quarter ending December 31, 2024 and held an earnings conference call at 1 p.m. ET to discuss these results. Prepared remarks during the conference call of Rory J. Cutaia, the Company’s Chairman & CEO, are provided below.

Company Participant
Rory J. Cutaia, CEO

Operator:
Good afternoon and welcome to the full-year and fourth quarter 2024 Financial Results Conference Call for Verb Technology Company, Inc. At this time, all participants are in a listen-only mode. Please be advised, the call is being recorded at the Company’s request.

On our call today is Rory J. Cutaia, Verb’s Founder, Chairman and CEO

Before we begin, I’d like to remind everyone that statements made during this conference call will include forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties that can cause actual results to differ materially. Forward-looking statements speak only as of the date they are made, except as required by law, as the underlying facts and circumstances may change. Verb Technology Company disclaims any obligations to update these forward-looking statements, as well as those contained in the Company’s current and subsequent filings with the SEC.

I would now like to turn the call over to Rory J. Cutaia, CEO. Rory?

Rory:
Thank you moderator, and thanks to everyone for joining us today for our fourth quarter and full-year 2024 financial results and business update conference call.

Well it sure feels good being back before you, speaking directly to you about our company, our business, our performance, and sharing our direct, transparent, honest thoughts and strategies for how we intend to drive shareholder value in this business now and into the future.

I’d like to begin with a brief discussion about our history and the challenging market conditions that influenced the formulation of the strategies we undertook to insulate ourselves from those conditions. I’m referring to insulating ourselves from those market conditions that became impediments to value creation in our former direct sales Software as a Service line of business, as well as those market conditions, particularly capital markets conditions, that affected, and are affecting many, many small and micro-cap exchange-listed companies even today.

Then I’d like to discuss the strategies that we employed and the changes we’ve made that underlie the impressive results we’re now seeing in the business. I’ll also touch on the strategies we employed that resulted in what I’m proud to state is a well cash-infused, extremely healthy debt-free balance sheet and a super clean cap table, the combination of which provide the all-important foundation for the impressive revenue growth we’re now enjoying.

Ok – let’s jump in. Historically, we were an R&D driven technology business, built around a SaaS platform, with a customer base that was comprised of, for the most part, direct sales companies, or as they are sometimes referred to: multi-level marketing companies. When we entered the market with our interactive video-based sales software, we set out to become the dominant player in this sector. What we saw at that time was the opportunity to address a market that included the large-scale sales teams, including tens of thousands of independent sales reps that these companies managed, all of whom needed a simple and effective, mobile-based sales tool.

Over time we learned valuable lessons. First, while we onboarded large numbers of new sales reps every month, the attrition rate among sales reps at these companies was extraordinarily high, making it difficult and costly to generate meaningful revenue growth. In addition, while we developed what we believe were extremely effective tools to help sales reps, even inexperienced sales reps generate and convert sales leads, outdated internal communications policies at these companies prohibited us from communicating these tools and how to use them directly to the fields of sales reps which may have curtailed much of the sales rep attrition, as the companies that managed these reps were often ineffective at doing so themselves. Finally, the ever-changing nature of the customer base we served, as well as the give-it-away below cost pricing models adopted by competitors who found themselves marginalized by our superior product offering, required continued, costly R&D expenditures, and continued returns to the capital markets.

These factors, coupled with what we perceived to be declining market multiples for SaaS businesses generally, drove our decision to sell that business unit and focus instead on our new, though not yet revenue-generating – Market.live, livestream shopping business. A bold move indeed, but one that has certainly proven now to have been in the best interests of our shareholders. This was the first prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB.

The next prong of our strategy was to insulate ourselves from the predatory financing terms imposed universally on companies like ours who relied on access to the capital markets to fund continued R&D and other growth capital requirements. Almost every financing initiative we undertook was fraught with last minute re-trading of material deal terms, ridiculous warrant coverage terms and conditions, post-deal financing exclusivity arrangements, tying the Company to bad financings into the future when additional capital was needed – all of which made us – and so many other companies in the same situation – perfect targets for short-selling – and for companies with any kind of trading volume, greed-driven illegal naked short-selling.

It wasn’t hard to target companies that announced an upcoming financing as short-sellers could be confident that deal terms and corresponding share prices would be below whatever the then current trading price was. This capital markets environment eroded share prices across the board resulting in reverse splits required to maintain exchange listing requirements, and destroyed cap tables and balance sheets causing an unprecedented level of exchange de-listings. Ultimately, it was the individual retail investors, left without sufficiently aggressive regulatory intervention, who bore the brunt of this market activity and still do.

To avoid this awful outcome, we developed a unique strategy to utilize Reg A to structure our capitalize raise initiatives and avoid the predatory hedge-fund investors, allowing us to issue straight common shares, priced at-the-market, with no warrant coverage, and no investment banking fees. This financing vehicle, unique for publicly-traded companies, among other financing strategies, allowed us to pay-off all of our debt, redeem all of the previously issued preferred shares, completely restructure our balance sheet, padding it with cash, taking shareholder equity from almost $2 million negative in June 2023 to more than $16 million positive in December 2024, and giving us a cash runway, conservatively assuming zero revenue growth, well into 2028 and beyond.

The shareholder approved reverse split we did last year resulted in an extremely tight – less than 1 million share float – and essentially eliminated all of the warrant overhang from years-ago predatory financings. We’re very proud of how well that series of initiatives was executed, completing that important second prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB.

The next prong of our strategy was to diversify our revenue streams to insulate ourselves from changes in the market, including economic and regulatory changes, as well as changes within our own customer base and demand for our products and services. The challenge was to identify and develop independent, yet complementary revenue producing business units that could leverage the cost savings produced by a unified internal finance, sales, marketing, and technology department structure utilized by and across all business units.

Recognizing that the core of our business was our interactive social video commerce technology and know-how, our strategy was to exploit those capabilities by entering the exploding telehealth industry, leading to the development and launch of VANITY Prescribed, followed by GoodGirlRX in partnership with TV and social media celebrity Savannah Chrisley, and then the development and launch of GO FUND YOURSELF, our very exciting, fast-growing crowd funding marketing platform. To give a sense of the revenue potential for Go Fund Yourself, we launched it in Q3 with little to no marketing and recognized $25 thousand in revenue – and then in Q4 we recognized $233 thousand in revenue. And if any of the more recent developments come to fruition for the Show – 2025 may be an extraordinary year for Go Fund Yourself and VERB stockholders.

VANITY Prescribed was in development during Q3 and Q4, identifying suppliers, onboarding suppliers, then replacing suppliers, developing our online patient screening and prescription approval process, and shoring up our supply chain in anticipation of participating in the extraordinary growth of the telehealth space following the introduction and rapid adoption of the new GLP-1 weight-loss drugs. Revenue, though now growing, was modest through that period and we’re excited for a broad-based launch and marketing campaign that is about to get under way.

As to MARKET.live, at the end of Q3, we changed our focus and product offering by providing what we believe is an industry-leading end-to-end solution for brands seeking to adopt a social commerce strategy that they cannot manage in-house on a cost effective basis. That strategy has proven to be enormously successful producing exponential revenue growth. As reflected in our 2024 Form 10-K filed today, in Q1 we generated revenue of $7 thousand, in Q2 we generated revenue of $37 thousand, in Q3 we generated revenue of $103 thousand, and in Q4 we generated revenue of $490 thousand. An impressive and most welcomed trend by anyone’s standards.

Combined 2024 revenue was $895 thousand, an increase of $832 thousand over 2023, representing revenue growth of 1,321% over that period. This performance is the greatest amount of revenue generated since the strategic sale of the Company’s direct sales SaaS business unit in June 2023.

Looking at Q4 alone, we generated $723 thousand, an increase of $694 thousand over the same period last year, representing revenue growth of almost 2,400% over that period. And as compared to Q3 2024, revenue in Q4 increased by $595 thousand, representing growth of almost 465% quarter-over-quarter.

While we historically do not provide going-forward guidance, we are comfortable sharing our expectation that Q1 2025 will surpass Q4 2024.

Finally, as to the last prong of our multi-pronged strategy to restructure, reconstitute, and re-invent VERB, we recognized that any business that fails to identify and develop an artificial intelligence strategy will be marginalized. With that in mind, we explored a number of different strategies, including developing our own A.I. capabilities in-house, which we smartly rejected. Instead, we scoured the market for a company with a developed, tested, proprietary A.I. solution uniquely tailored to video-based social commerce. Upon testing the A.I. and social commerce capabilities of LyveCom, a bleeding-edge, video-based social commerce start-up, we entered into a licensing agreement to incorporate their technology into our MARKET.live platform.

To our great surprise, we found that the integration of LyveCom’s tech resulted in a massive operational cost reduction. In fact, we anticipate a direct operational cost reduction of approximately $1 million per year. However, perhaps more importantly, we also recognized that the addition of LyveCom’s technology created an entirely new, updated platform, feature rich with capabilities far beyond our current platform and certainly beyond that of many other social commerce platforms. So rather than simply license the technology and risk LyveCom being acquired by a competitor, limiting our access to the technology and future iterations of it, we decided to acquire it ourselves. It is our expectation that the acquisition will be highly accretive and produce meaningful value for VERB stockholders.

With the closing of the LyveCom acquisition, which remains on track and is expected to occur in the coming weeks, we will have effectively completed the transition of VERB from an unprofitable, cash-hungry business in a challenging market, to an extremely well-capitalized, well diversified business, with proven, strong, fast-growing revenue generation capabilities, A.I.-ready, with a tight float, clean cap table and debt-free balance sheet, poised for meaningful continued growth.

In closing, I refer you to our Form 10-K filed today for greater details concerning our 2024 financial results as well as the press release distributed today summarizing those results for additional information I’ve not covered in my conference call today. I’ve chosen instead to use this time to provide context for those results and share our strategies and ongoing initiatives for continued growth and value-creation for VERB stockholders.

Finally, and as anyone who can read a balance can see, with under 1 million shares issued and outstanding as of December 31, 2024, and debt-free with more than $13 million in cash and highly liquid securities – and assuming ZERO value given for our three revenue generating business units – I would be remiss if I didn’t point out that our net cash value per common share is at least $13.50, which we believe represents a very compelling opportunity, very compelling indeed.

I thank you for allowing me to address you all today and share with you our excitement and optimism for VERB shareholders now and into the future.

Operator: This concludes the conference call. You may now disconnect.

About VERB
Verb Technology Company, Inc. (Nasdaq: VERB), is the innovative force behind interactive video-based social commerce. The Company operates three business units, each of which leverages its social commerce technology and video marketing expertise. The Company’s MARKET.live platform is a multi-vendor, livestream social shopping destination at the forefront of the convergence of e-commerce and entertainment, where brands, retailers, creators, and influencers engage their customers, clients, fans, and followers across multiple social media channels simultaneously. GO FUND YOURSELF is a revolutionary interactive social crowd funding platform and TV show for public and private companies seeking broad-based exposure across social media channels for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons. VANITYPrescribed.com and GoodGirlRx.com are telehealth portals, intended to redefine telehealth by offering a seamless, digital-first experience that empowers individuals to take control of their healthcare needs. They were designed and developed to disrupt the traditional healthcare model by providing tailored healthcare solutions at affordable, fixed prices – without hidden fees, membership costs, or inflated pharmaceutical markups. GoodGirlRx.com, a partnership with Savannah Chrisley, a well-known lifestyle personality and advocate for health and wellness, offers customers access to convenient, no-hassle telehealth services and pharmaceuticals, including the new weight-loss drugs, with fixed pricing regardless of dosage, breaking away from the industry’s traditional model of excessive pricing and pharmaceutical gatekeeping.

The Company is headquartered in Las Vegas, NV and operates full-service production and creator studios in Los Alamitos, California.

For more information, please visit: www.verb.tech

Follow VERB and MARKET.live here:
VERB on Facebook: https://www.facebook.com/VerbTechCo
VERB on Twitter: https://twitter.com/VerbTech_Co
VERB on LinkedIn: https://www.linkedin.com/company/verb-tech
VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ

Sign up for E-mail Alerts here: https://ir.verb.tech/news-events/email-alerts

FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, those identified in our filings with the Securities and Exchange Commission (the “SEC”), including our annual, quarterly and current reports filed with the SEC and the risk factors included in our annual report on Form 10-K filed with the SEC today. Any forward-looking statement made by us herein is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

Investor Relations Contact: investors@verb.tech

Media Contact: info@verb.tech

The MIL Network –

March 26, 2025
MIL-OSI United Kingdom: Prestigious award win for city centre project

Source: City of Plymouth

The works to rejuvenate Old Town and New George Street in the city centre have been recognised in the Best Landscape at the Concrete Society Awards.

This accolade recognises the transformational regeneration of a formerly dated shopping street, now revitalised with high-quality materials to create a modern retail area fit for the 21st century.

The completed works have already attracted new businesses to Plymouth, bringing in business rates that can be reinvested into vital services. This influx of new retailers supports the city’s growth ambitions and enhances the public realm.

The massive makeover has transformed the dated eighties landscaping, replacing it with islands of greenery, 25 new semi-mature trees, ornamental planting, and rain gardens. New granite paving has been installed to make the area more attractive and reduce the likelihood of trips and falls. Additionally, new street lighting and decorative lighting have been added to create a wow factor after dark, along with additional CCTV cameras to improve coverage.

Old Town Street / New George Street Regeneraiton

Councillor Mark Lowry, Plymouth City Council Cabinet Member responsible for city centre works, said: “The overall works are truly impressive and have made a significant impact on our city centre, breathing new life into what was once a dated area.

“The new greenery, trees, and ornamental planting have created a vibrant and welcoming space for shoppers, visitors and businesses. With the local business community already making use of the space for their events and activities. I look forward to seeing even more in the future.”

Councillor Lewis Allison, the new Champion for Second Homes Council Tax and Business Rate Growth, highlighted the economic benefits of the scheme. He added: “This new public area is modern, spacious and attractive and footfall is bucking the national trend.

“The completed works are already attracting new businesses to Plymouth, bringing in business rates that can be reinvested into vital services. This influx of new retailers supports our ambition for growth in city centre through higher quality public realm.”

MIL OSI United Kingdom –

March 26, 2025
MIL-OSI USA: Governor Lamont Highlights Significant Investments in Towns and Cities
Source: US State of Connecticut

(HARTFORD, CT) – Governor Ned Lamont today announced that the FY 2026/2027 biennial state budget proposal that he presented to the Connecticut General Assembly last month continues recent trends under his administration of increasing state funding for Connecticut’s town and city governments to support the administration and delivery of municipal services, even while the state has made challenging funding decisions and streamlined costs across state government.

Municipal aid is the largest category of state spending within the entire general fund. Since taking office since 2019, every state budget Governor Lamont has enacted has not only held municipal funding harmless, but it has also increased that funding each year.

“My budgets prioritized significant municipal aid investments because that funding is about more than ensuring our unique towns and cities are incredible places to live, but because that funding supports our children’s education and gives them the best opportunity at the starting line in life,” Governor Lamont said. “Over the last several years, our budgets have doubled municipal aid and PILOT funding, and in my next biennium proposal we kept with those investments by proposing more special education funding, community economic development grants, and school and local capital improvement projects.”

Over the last five years:
- The Education Cost Sharing (ECS) grant to municipalities, which supports the operations of K-12 public schools, has increased 17%. The state’s per pupil spending of $22,000 is among the highest in the country (top five) and nearly $5,000 above the national per pupil average of $16,665.
- PILOT funding to municipalities has doubled.
- General government aid to municipalities has doubled.
- More than $400 million in state grants have been provided to the state’s most distressed municipalities through the Community Investment Fund, which Governor Lamont and the General Assembly established in 2022 to support capital improvement projects in towns and cities.
- More than $3.3 billion has been provided to municipalities to fund school construction projects.
The FY 2026/2027 budget that Governor Lamont proposed and is currently being considered by the state legislature contains several areas of increases for municipal services, including:
- An $85 million increase in the ECS grant to municipalities in FY 2026. This increase will bring ECS aid to municipalities a full two-years ahead of the schedule planned in the state’s current ten-year phase-in timeline.
- A $40 million increase in the Excess Cost Grant in FY 2027 to support special education services.
- The creation of a new state grant to municipalities called the High-Quality Special Education Incentive Grant, which will support the ability of school districts to provide high-quality special education programming in-district and regionally, reducing reliance on out-of-district placements and meeting students’ needs as identified by their individualized education program in the least restrictive environment. The budget proposal invests $10 million from the general fund and $4 million in bond funds in this grant program for FY 2027.
- The largest expansion of preschool access in Connecticut history through the creation of the Universal Preschool Endowment, which will be seeded by $300 million from the FY 2025 surplus and in the following years will receive funding from any unappropriated surpluses in the general fund.
- An investment of $9.9 million in FY 2027 to continue the Learner Education and Engagement Program (LEAP), which Governor Lamont established during the COVID-19 pandemic to help address chronic student absenteeism and engagement.
- An investment of $700,000 in FY 2026 to eliminate reduced price lunch and breakfast fees for students statewide.
- An additional investment of $12.4 million in FY 2027 to provide universal free school breakfast.
- An investment of $5 million in FY 2027 to support a High Dosage Tutoring Grant program, which will serve nearly 12,000 students to provide tutoring support.
- An investment of $350 million in FY 2026 and 2027 combined to continue grants through the Community Investment Fund.
The General Assembly’s Appropriations Committee and Finance, Revenue and Bonding Committee are currently reviewing the governor’s budget proposal and are anticipated to act on it in the coming weeks.

MIL OSI USA News –
March 26, 2025
MIL-OSI United Kingdom: Residents welcome to find free advice and support at Help at the Hub event in Blakenhall

Source: City of Wolverhampton

Help at the Hub will see a wide variety of city organisations offer advice and information. The event will take place on Thursday 10 April between 11am and 2pm at The Bob Jones Community Hub, Bromley Street, Blakenhall, WV2 3AS.

The event has been organised by officers at the council’s Public Protection Scams Team who will be handing out free scams awareness and prevention packs.

Residents with concerns can speak with advisors from Admiral Nurses, Alzheimer’s Society, Aquarius, Camp Hill Village Trust, Carers Support, Cost of Living, Customer Services, Healthwatch, NHS Talking Therapies, Public Protection, Revenue & Benefits, Sanctuary, SEND Local Offer, Severn Trent, SUIT, The Haven, Wolverhampton Credit Union, Wolverhampton Homes and Wolves Foundation.

People are welcome to drop in and speak to any number of the organisations for free help and assistance.

Councillor Bhupinder Gakhal, City of Wolverhampton Council’s cabinet member for resident services, said: “We know that our Help at the Hub events are popular with residents and we have helped many local people with a wide range of queries.

“Local venues mean we can reach out into our communities and on this occasion, the event will take place in the same venue as our Customer Services Access Point which offers face to face help with Council Services such as Digital Support, Council Tax and Blue Badges.

“We know that things have not been easy for residents over recent years and people may have a lot on their minds. Please come along on 10 April and speak to people who can help.”

Residents do not have to book an appointment but are asked to please be prepared to wait if the event is busy.

MIL OSI United Kingdom –

March 26, 2025
MIL-OSI: Bank of Åland Plc: Decisions at the 2025 Annual General Meeting

Source: GlobeNewswire (MIL-OSI)

Bank of Åland Plc
Stock exchange release, decisions of general meeting
March 25, 2025, 17.00 EET

Decisions at the 2025 Annual General Meeting, Bank of Åland Plc (Ålandsbanken Abp)

Adoption of financial statements and granting of discharge from liability of those accountable

Today’s Annual General Meeting (AGM) of the Bank of Åland Plc approved the adoption of the financial statements and the consolidated financial statements for 2024 and granted discharge from liability to those accountable for the financial year 2024.

Dividend distribution and announcement of the record date for dividend payment

In accordance with the proposal of the Board of Directors, the AGM approved the distribution of a dividend of EUR 2.40 per share plus an extra dividend of EUR 0.35 per share for the accounting period January 1, 2024 – December 31, 2024. The record date for payment of the dividend is Thursday, March 27, 2025. The dividend payment date will be Thursday, April 3, 2025.

Compensation report

The AGM dealt with the Bank’s compensation report and adopted it.

Election of the Board of Directors and fees for Board members

The number of Board members was set at seven.

The AGM unanimously re-elected Board members Anders Å Karlsson, Nils Lampi, Mirel Leino-Haltia, Malin Lombardi, Christoffer Taxell, Ulrika Valassi and Anders Wiklöf.

The term of office of Board members covers the period until the end of the next AGM.

At the statutory meeting of the Board the same day, Nils Lampi was elected as Chairman and Christoffer Taxell as Deputy Chairman of the Board.

The Chairman will be paid an annual fee of EUR 37,000 and the Deputy Chairman will be paid an annual fee of EUR 31,500.

Other Board members will each receive an annual fee of EUR 29,000.

In addition, a fee will be paid for each Board and committee meeting attended.

For Board meetings, the Chairman will be paid a fee of EUR 1,000 per meeting and each other member EUR 750 per meeting. For committee meetings, each Board member belonging to the committee will be paid a fee of EUR 750 per meeting and each Board member who is a committee chairman will be paid a fee of EUR 1,000 per meeting. In addition, compensation for travel and accommodation expenses as well as daily subsistence allowances are paid in compliance with the instructions of tax authorities and the Bank’s travel guidelines.

Election of auditor and audit fees

The AGM decided to appoint the authorised accounting firm of KPMG Oy Ab as auditor, with Henry Maarala (KHT) as auditor in charge. The term of office of the auditor covers the period until the end of the next AGM.

The AGM decided to appoint the authorised accounting firm of KPMG Oy Ab, with certified sustainability auditor (KHT) Henry Maarala as sustainability auditor in charge. The term of office of the sustainability auditor covers the period until the end of the next AGM.

The AGM approved the payment of the auditors’ fees as invoiced.

The Board of Directors

The MIL Network –

March 26, 2025

MIL-OSI Australia: Latest news on tax and superannuation law and policy

Source:

Latest announcements

Budget 2025-26

The government handed down the 2025-26 Budget on 25 March 2025, with several changes to tax and superannuation laws (see budget.gov.auExternal Link).

Budget changes to tax and superannuation laws
Measure name	Proposed start date	Developments
Amendments to Existing Measures: Extending the clean building managed investment trust withholding tax concession	1 October 2025 or the ‘first day of the 1st quarter after Royal Assent’, whichever is the later	TBC
Amendments to Existing Measures: Foreign resident capital gains tax changes	1 October 2025 or the ‘first day of the 1st quarter after Royal Assent’, whichever is the later	TBC
Amendments to Existing Measures: Managed Investment Trusts	13 March 2025	TBC
Personal Income Tax – new tax cuts for every Australian taxpayer	1 July 2026	TBC
Illicit Tobacco Compliance and Enforcement Package – direct and targeted enforcement to counter profits from illicit tobacco	1 July 2025	N/A
Personal Income Tax – increasing the Medicare levy low-income thresholds	1 July 2025	TBC
Restricting Foreign Ownership of Housing	1 April 2025	N/A
Strengthening Tax Integrity: Extension and expansion to the Personal Income Tax Compliance Program	1 July 2025	N/A
Strengthening Tax Integrity: Extension and expansion to the Shadow Economy Compliance Program	1 July 2025	N/A
Strengthening Tax Integrity: Extension and expansion to the Tax Avoidance Taskforce	1 July 2025	N/A
Strengthening Tax Integrity: Extension to the Tax Integrity Program	1 July 2026	N/A
Supporting Philanthropy	Various	TBC
Supporting the Hospitality Sector and Alcohol Producers	Various	TBC

MYEFO 2024-25

The government handed down the 2024–25 MYEFO on 18 December 2024, with several changes to tax and superannuation laws (see budget.gov.auExternal Link).

MIL OSI News –

March 26, 2025

MIL-OSI USA: Governor McKee, RIDOH Announce Funding to Bolster Primary Care Training Capacity

Source: US State of Rhode Island

Governor Dan McKee and the Rhode Island Department of Health (RIDOH) announced today that in the coming weeks, the State will be making up to $90,000 in grant funding available to numerous primary care sites to support their work to train more students and mentor Rhode Island’s next generation of physicians, nurse practitioners, and physician assistants.

RIDOH’s Primary Care Training Sites Program began accepting applications this week. This program is being supported by $2.7 million in State General Revenue funding.

“The Primary Care Training Sites Program is one of many steps we are taking across our administration to bolster primary care in Rhode Island,” said Governor Dan McKee. “Accessible, quality primary care can lower rates of chronic conditions, lessen the burden on our hospital system, and bring down Rhode Island’s overall healthcare costs in line with the goals of our RI 2030 plan.”

In his budget this year, Governor McKee is proposing additional measures to strengthen Rhode Island’s primary care workforce. These include increasing investments in the Health Professional Loan Repayment Program and recommending that primary care provider reimbursement rates be reviewed by the Office of the Health Insurance Commissioner as part of its upcoming evaluation in September 2027. These efforts are a crucial step toward fostering a more competitive primary care job market in Rhode Island.

“Primary care is the backbone of the healthcare system in Rhode Island,” said Director of Health Jerry Larkin, MD. “This program will encourage trainees in primary care to remain in Rhode Island after completing their education, and it will enhance Rhode Island’s clinical training capacity. Given the national shortage of primary care providers, this is more important than ever.”

“Rhode Island has a critical shortage of primary care providers, one that is only going to get worse swiftly if we don’t take action,” said Senator Pamela J. Lauria (D-Dist. 32, Barrington, Bristol, East Providence). “Right now, Rhode Island is on track to be short about 100 primary care providers by 2030. That’s a shortage large enough to mean 1 in 5 Rhode Islanders will be unable to find a primary care provider. As a state, we must recruit, train, retain, and sustain the number of primary care providers necessary to meet the health demands of all Rhode Islanders.”

The program is being run in partnership with the Care Transformation Collaborative of Rhode Island (CTC-RI). CTC-RI, originally co-convened by the Office of the Health Insurance Commissioner (OHIC) and the Executive Office of Health and Human Services (EOHHS), works to pilot and support initiatives and programs statewide that improve and transform primary care��from integrating behavioral health into primary care to community-focused care support for children and families. CTC-RI is developing the program curriculum that preceptors from awarded sites will be trained in and will use to train students. (A preceptor is an experienced healthcare professional who supervises and mentors students or trainees in a clinical setting.) Additionally, CTC-RI will organize learning collaboratives for clinical educators.

“Our state is facing a significant primary care workforce shortage, resulting in too many patients left without access to much needed primary care��the backbone of our healthcare system. Thanks to our new Primary Care Training Sites Program in partnership with RIDOH, made possible by our legislature, we’re responding to the needs of our workforce, adding capacity to recruit and train future primary care providers and encourage them to stay and work in Rhode Island,” said Debra Hurwitz, MBA, BSN, RN, executive director of the Care Transformation Collaborative of RI. “While there’s no single solution to our workforce crisis, adding primary care-specific training and capacity will help us increase the provider pipeline, resulting in more access for Rhode Islanders.”

The program will expand interdisciplinary clinical training at advanced primary care sites. The program aims to increase Rhode Island’s training capacity by 50% for nurse practitioners, physician assistant students, and physician residents. Practices can receive up to $90,000 per calendar year. Participating sites will receive funding based on their anticipated enrollment of trainees, helping to offset the costs associated with clinical education.

Primary care students in training may conduct patient assessments, assist with medical procedures, develop treatment plans under supervision, or learn how to coordinate care within a healthcare team. At sites awarded funding through this program, preceptors play a crucial role in ensuring that trainees gain hands-on experience while providing quality care to patients.

All applicants must be fully registered in the Rhode Island Division of Purchases’ Ocean State Procures system with a current, signed W-9 form uploaded. Full registration is required to receive a Purchase Order and begin work. Since approval can take up to three weeks, applicants are encouraged to complete registration before applying to avoid funding delays.

The Primary Care Training Sites Program was established by the Rhode Island General Assembly in July 2024. It is dedicated to enhancing and expanding Rhode Island’s capacity to train the next generation of healthcare professionals. By supporting community-based primary care practices and preceptors, the program creates high-quality training opportunities for medical students, residents, nurse practitioners, and physician assistants.

Through strategic grants, the Primary Care Training Sites Program incentivizes practices to expand their capacity to train students while supporting preceptors in mentoring the next generation of providers. (Preceptors are the clinicians who train future doctors, nurse practitioners, and physician assistants.) The program prioritizes practices recognized as Patient-Centered Medical Homes (PCMH) by the National Committee for Quality Assurance (NCQA) and those integrating behavioral health services, promoting collaboration across disciplines.

For more information about the Primary Care Training Sites Program, see: https://health.ri.gov/healthcare/primary-care-training-site-program

MIL OSI USA News –

March 26, 2025
MIL-OSI: CAI Elevates Financial Gains, Market Strategies and Community Impact in 2024
Source: GlobeNewswire (MIL-OSI)

ALLENTOWN, Pa., March 25, 2025 (GLOBE NEWSWIRE) — CAI, a global services firm, announced today consecutive growth into 2025 with a company revenue surge amounting to $1.38 billion, new client engagements and a global workforce surpassing 9,000 associates.

“Our commitments to innovation, client success and corporate social responsibility are the driving factors to our ongoing success,” said Tom Salvaggio, president and CEO at CAI. “We don’t just quantify our growth by a number, we measure it based on the trust of our clients, the impact on our communities and the camaraderie and collaboration of our associates. The milestones from 2024 will propel us in 2025.”

Portfolio Achievements

Public Sector portfolio grew its market presence and welcomed new clients including state departments, educational institutions and municipalities. Contingent Workforce Solutions, a leading service offering in the portfolio’s success, experienced record-breaking results through program acquisitions and other expansions.

Commercial portfolio improved customer satisfaction and cost efficiency rates with blended solutions of CAI’s Service Desk and AI technologies. Made evident by its results, a top tax technology firm achieved a 25% increase in first-level resolution rates with their Service Desk after the first year.

As a ServiceNow Partner, CAI helped a commercial product company achieve:
- Three-day reduction in testing time
- 90%-95% customer satisfaction rates
- Fast ability to recover from system outages
CAI Neurodiverse Solutions, specializing in autism employment, helped many neurodivergent individuals find employment opportunities. These roles included business analyst, quality assurance analyst, software developer and others across several industries. With skills such as attention to detail, pattern recognition and problem resolution, both employers and candidates have found success. Honored for the program’s aspects on talent acquisition and management, learning and development, human resources and technology, CAI Neurodiverse Solutions earned the 2024 Disability Matters Award in the Workforce category.

Technology and Innovation

With ongoing participation in the National Association of Counties (NACo) AI Exploratory Committee, CAI and other founding corporate partners contributed to the AI County Compass, a comprehensive toolkit designed for the safe and effective deployment of generative AI technologies in county government.

In practice, a state county’s Regional Intelligence and Investigation Center deployed AI to enhance data-handling efficiency while maintaining operational security. The safeguarded data system enables law enforcement to more quickly solve violent and non-violent crimes.

Technology-enabled efforts earned CAI the bronze Stevie^® Award for Best Use of Technology in Customer Service, and Globee® Awards for American Business in two categories: Gold in Achievement in Technology Adoption and Sliver in Digital Collaboration Achievement. Awards underscored the firm’s technology expertise to improve the client experience and foster innovative workplaces.

Philanthropy and Community Engagement

Committed to philanthropy since the company was founded in 1981, CAI continued to champion its five corporate social responsibility (CSR) pillars: Accessible Education, Helping Families Thrive, Food Accessibility, Neurodiversity and Sustainability.

Dozens of investments and programs benefited local and global communities, including:
- Salvaggio Academy: A private elementary school founded and funded by CAI and the Salvaggio family, relocated to a more expansive space on a college campus improving student programs and STEAM curriculums
- CAI United Fund: An investment initiative formed from the partnership between CAI and United Way of the Greater Lehigh Valley, provides financial support to United Way Community Schools Network to reduce absenteeism and improve academic outcomes for over 19,000 students
- SHE for Society: A nonprofit in India aimed to provide educational opportunities, opened its second computer lab with CAI associates giving users access to conduct research
CAI earned the bronze Stevie Award for Best CSR Strategy reflecting the firm’s dedication to maximize the tangible impact made for communities around the globe.

New Leadership and Additional Accolades

Jon Taglieri joined CAI as the new Chief Financial Officer (CFO). He oversees all activities of Finance, Accounting, Governance and Compliance, which includes reporting, planning, strategy and cash management. Previously, Jon served as CFO for a multibillion-dollar federal government contractor.

Abe Hunter was appointed to Chief Revenue Officer (CRO) and President, Public Sector from his previous role as Executive Vice President, Public Sector for CAI. As CRO, Abe leads enterprise-wide strategies to amplify sales, optimize operations, enhance customer relations and elevate CAI’s market presence. In the dual role, he continues to direct strategies as the company targets new markets and technologies within government.

Kate Forbes joined CAI as the Chief Information Officer (CIO) and provides strategic direction to prepare CAI for growth and scale. She oversees the technology roadmap for internal applications, delivering business value through objectives-based prioritization and technical implementation. Previously, Kate held the position of CIO for a multimillion-dollar global SaaS company.

In addition to the aforementioned honors, CAI earned a total of 16 awards including:
- Newsweek: America’s Greatest Workplaces for Diversity, Parents & Families and the signature list
- Disability:IN: 100 score on the Disability Equality Index
- Inspiring Workplaces: North America’s Top 100 Inspiring Workplaces
- Top Workplace: Lehigh Valley and Delaware regions
- OnCon Icon: Top 50 Learning & Development Teams, Top 50 Talent Acquisition Teams, and Top 10 HR Professional for Tammy Harper, CHRO at CAI
To learn more about CAI, visit www.cai.io

For career opportunities, visit careers.cai.io/us/en

About CAI

CAI is a global services firm with over 9,000 associates worldwide and a yearly revenue of $1.3 billion+. We have over 40 years of excellence in uniting talent and technology to power the possible for our clients, colleagues, and communities. As a privately held company, we have the freedom and focus to do what’s right—whatever it takes. Our tailor-made solutions create lasting results across the public and commercial sectors, and we are trailblazers in bringing neurodiversity to the enterprise.

Contact:

Madison Oler
PR & Communications Specialist
CAI
Madison.oler@cai.io

The MIL Network –
March 26, 2025

Fund Name	Fund Ticker	Cash Distribution Per Unit
iShares Premium Money Market ETF	CMR	$0.121

Category: Taxation

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