NewzIntel.com

Category: Transport

  • MIL-OSI Australia: App to support youth off vapes while tens of thousands of illegal products removed from community

    Source: New South Wales Premiere

    It comes as new data shows NSW Health’s youth-targeted campaign has supported or persuaded almost 40,000 young people in NSW to quit vaping.

    Meanwhile, the latest seizure data suggests a severe disruption to product availability following the introduction of laws stopping vapes at the border.

    New Pave app to support quitting vaping

    The new Pave app being launched today will provide users with helpful tips, motivation, tracking tools, distractions for when cravings hit, as well as activities and information to navigate common barriers to quitting vaping.

    It provides a daily check-in feature supporting users to reflect on their progress and a click-to-call function to connect with Quitline counsellors.

    The app was developed by the Cancer Institute NSW, and designed together with young people who vape or had recently quit vaping.

    Their experiences informed the content and user interface of the app.

    It’s free and available to download on iOS and Android.

    Campaign supports or persuades 40,000 to quit

    In January 2024, we launched the ‘Every vape is a hit to your health’ behaviour change campaign to reduce the health impact of vaping among 14 to 24 year olds in NSW – the campaign running across TV, public transport and social media.

    The campaign connects young people to information about vaping and quit support, including telephone support through the Quitline, general practitioners and now digital apps such as Pave.

    New research shows the campaign motivated 24,000 young people in NSW to quit vaping, and persuaded a further 15,000 to consider quitting.

    Research also shows that 80 per cent of young Aboriginal people who vape felt motivated to try to quit after being exposed to the campaign.

    The campaign is now entering a new phase which will highlight the health harms of vaping including nicotine addiction, lung damage, breathlessness, nicotine poisoning and burns from exploding vapes.

    These health materials are available in Cantonese, Mandarin, Vietnamese, Nepali and Arabic, and can be accessed here.

    Tens of thousands of illegal products removed from community

    Between 1 October 2024 to 31 December 2024, over 47,000 vaping products were seized from 300 inspections.

    This is compared to the same period the previous year, when just under 80,000 vaping products were seized from 238 inspections.

    Despite the higher number of inspections, the lower number of products seized is likely the result of the disruption in product availability in the market following the introduction of the commonwealth vaping laws.

    Quotes attributable to Health Minister Ryan Park:

    “I am very concerned about the prevalence of illegal vapes in our community.

    “In particular, I’m worried about the impacts it will have on the community’s health, and ultimately, our health system, long into the future.

    “This is a once-in-a-generation moment to prevent a ticking timebomb in public health.

    “Our efforts against vaping cannot be solely about enforcement – we’ve got to persuade young people to take ownership of their health, as well as clean our streets of illegal products.

    “I am encouraged by our efforts to create awareness among young people of the dangers of vaping, as well as to instil in them a desire to say no, or to quit.

    “What I’m determined to see as minister is the requisite supports to help them do it.”

    Quotes attributable to Chief Cancer Officer and CEO of Cancer Institute NSW Professor Tracey O’Brien AM

    “It’s encouraging to see that tens of thousands of young people are trying to quit vaping or thinking about doing so.

    But vaping remains a significant public health issue and the new Pave app is another option we can provide to encourage young people to seek help and stay on track on their quit journey.

    “Vaping can cause significant health harms and can be highly addictive.

    “Like cigarettes, vapes are also full of harmful chemicals that have been known to cause cancer and there is growing evidence that young people who vape are more likely to take up smoking, which can significantly increase their cancer risk.”

    “It’s important that people avoid taking up vaping or seek help to quit. While quitting can be hard, with support, taking that first step can be life changing.”

    Quotes attributable to former vaper Jillie Clarke

    “The craziest thing about vaping is that I genuinely don’t believe anyone wants to be a vaper.

    “I didn’t realise I was addicted until I tried to quit and I couldn’t.

    “But quitting vaping is 100 per cent possible, it’s a journey but every step is progress and you can do it.

    “Vaping had a noticeable impact on my breathing, it felt like my lungs were working harder than they used to and I ended up getting really sick with a lung infection.

    “What was really scary for me was learning that the impacts of vaping go beyond respiratory issues, with other damage not being felt until it’s too late – I didn’t want to risk getting to that stage.”

    MIL OSI News –

  • MIL-OSI Australia: New designs on the way for the NSW Pattern Book

    Source: New South Wales Premiere

    Published: 11 February 2025

    Released by: Minister for Planning and Public Spaces

    Thirteen highly skilled design practices have been commissioned by the Minns Labor Government to contribute additional low and mid rise designs to the NSW Pattern Book.

    This is the second tranche of designs to be added to the NSW Pattern Book to make the delivery of homes in NSW faster, providing more homes for those who need them.

    Six designs for terraces, semi-detached dual occupancy and manor houses or low-rise apartment buildings will be produced alongside six designs for mid-rise residential flat buildings.

    Additionally, one landscape design practice has been commissioned to develop design guidance for the low-rise and mid-rise patterns, for both private and shared open spaces.

    Once complete, these designs will become part of the NSW Pattern Book alongside the five winners from the professional category of the NSW Housing Pattern Book Design Competition that were announced in November last year.

    The NSW Pattern Book will provide families, builders and developers with a collection of pre-approved, architecturally designed and cost-effective patterns to choose from. Those that use the designs will have access to a fast-tracked planning pathway.

    Restoring choice and diversity is at the centre of the Minns Government’s housing reforms. This means building more homes that offer people at different stages of life more options.

    The Pattern Book builds on the Minns Government recent reforms to the planning system to speed up the delivery of more homes, including:

    ·       Establishment of the Housing Delivery Authority to allow for major housing projects to be prioritised by being assessed directly by the NSW Government.

    ·       The largest rezoning in NSW history around transport hubs.

    ·       The largest ever investment in the delivery of social and affordable housing in NSW.

    ·       $200 million in financial incentives for councils that meet the new expectations for development applications, planning proposals and strategic planning. 

    ·       $450 million to build new apartments for essential workers including nurses, paramedics, teachers, allied health care workers, police officers and fire fighters. 

    For more information on the Pattern Book please visit https://www.planning.nsw.gov.au/government-architect-nsw/housing-design/nsw-housing-pattern-book.

    Minister for Planning and Public Spaces Paul Scully said:

    “Sydney is currently the second most expensive city in the world and has less housing diversity than it did a century ago. This means less optionality and less opportunity for our families, young people, workers and downsizers to live in NSW.

    “As we see the average household change and evolve, we want to make sure there are homes to suit everyone, and this means more than just single dwellings and high-rise apartments.

    “We’re not sacrificing quality for quantity as we deliver more homes, the NSW Pattern Book will have the stamp of approval from the NSW Government Architect.

    “We want new homes to be built faster, but the Pattern Book will mean those homes are good quality, sustainable and cost-effective.”

    MIL OSI News –

  • MIL-OSI Australia: Minister Rishworth interview on 4BC Breakfast with Peter Fegan

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: Antisemitism; US tariffs on aluminium and steel; US-Australia trade relationship; NDIS; Foundational supports; Australian federal election.

    PETER FEGAN, HOST: Someone that had a front row seat to the action, Social Services Minister Amanda Rishworth. She joins me on the line. Minister, it’s great to have your company this morning.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Good morning. Great to be with you.

    PETER FEGAN: Antisemitism is a very touchy subject. Now, the Attorney-General has accused the Coalition of politicising antisemitism. But look, I think the sad reality is, Minister, it is a political issue, but I think it was a little childish of the Coalition yesterday to try and attempt to silence the Attorney-General because Mark Dreyfus is Jewish.

    AMANDA RISHWORTH: It was a pretty unusual circumstance. We had Mark Dreyfus getting up and talking very personally about the impact that antisemitism has had on him and his family. In fact, he has direct family members that died in the Holocaust. So, it was a really moving comment. And he was making the point how dangerous it can be to politicise. Now, to shut down the Attorney-General by moving a motion that he no longer be heard was ironic. I mean, that was pretty ironic and pretty concerning, especially when the Parliament should be about free speech and canvassing these types of issues.

    PETER FEGAN: Yeah, look, I thought the move was very strange considering that, yes, he is Jewish and he had personal experiences. I thought it would have been more touching to allow Mark Dreyfus to talk. But look, it is politics. I want to move on, Minister, if I can, to President Trump’s threat to impose these 25 per cent tariffs on Australia’s aluminium industry. It is a really scary prospect. But, you know, particularly given the cost to Rio Tinto and, you know, and big companies like that BlueScope as well. But look, we don’t export a lot of those materials to America. But I think more broadly there’s an issue here, and it’s the relationship between the US and it hangs in the balance here. Do you think that the comments made by Anthony Albanese and Kevin Rudd may come back to bite us on the backside here?

    AMANDA RISHWORTH: Look, I think that the Prime Minister in particular has demonstrated already he is able to build strong relationships with world leaders. If you have a look at it, before President Trump even took office, our Prime Minister had had a conversation with him. Very few countries got an invite to the inauguration. Penny Wong was there, and we have Richard Marles meeting his Defence Minister counterpart just over the weekend. So, the relationship is strong. We will be working in our national interest. Our Prime Minister always does that. Obviously, President Trump has made comments that he will impose these across every country, but we will be working very closely in our national interest. I think the relationship is very strong. We’ve been working on it, and we’ll keep working on it in our national interest.

    PETER FEGAN: Let’s move on to your brief. The NDIS, it is as a ‘you know what’ sandwich. It’s been handed to you by Bill Shorten. The first question I want to ask you, Minister, and I hope you don’t deny this, have you been handed, have you been left a mess by Bill Shorten? Because the opinion of Australia is the NDIS couldn’t be in worse shape.

    AMANDA RISHWORTH: Well, firstly, I would say that the problems in the NDIS are not new. The reason why many of Australians understand some of the challenges in the NDIS is because Minister Shorten actually raised them. Just a couple of things…

    PETER FEGAN: He raised them, but he didn’t fix them, though, Minister. I mean, come on, let’s call it what it is. He never fixed the issues in the NDIS. He may have raised them, but under his watch you had NDIS carers taking patients or taking their clients to strip clubs, cash buying vehicles, going on holidays. It was an absolute mess, and it all happened under Bill’s watch.

    AMANDA RISHWORTH: No, no, that is just not true. Some of these things had happened for a long time. What we did, and what Minister Shorten did, was have a list of what things could be funded and what couldn’t. Before that, there hadn’t been a list of what could be and couldn’t be funded. Firstly, I would make the point that the NDIS does provide lifechanging supports for many Australians with disability. What I’m hearing, though, of course, and this is the work that Minister Shorten started and I will continue, is firstly, bring integrity back to the system and making sure that people are spending the money and getting support for the things that make a difference in their lives. Secondly, I would say that I hear a lot about making sure that there is fairness and consistency in decision making at the same time as making sure that individuals have an individualised plan. But the crackdown on some of the misuse of NDIS money was only brought to the fore because Bill Shorten decided to set up a fraud task force and actually have a look at this. Some of the practices previously, were invoices weren’t even being checked, they were just being paid.

    PETER FEGAN: But how do we get to that stage? How do we get to that stage where invoices aren’t even checked? I mean, the captain goes down with the ship, unfortunately, Minister.

    AMANDA RISHWORTH: No, no, they are now. We’ve got to bring integrity [to the system] and that’s what Minister Shorten started. It’s a long process because quite frankly, the previous government just did not pay attention to the work that needed to be done in the NDIS. So, we need to get it back to its original intent and that was providing reasonable and necessary support so that individuals with disability can achieve their goals and aspirations. And I think that is where we need to get back to and that’s what I’m absolutely committed to doing.

    PETER FEGAN: My guest this morning is the Minister for Social Services, Amanda Rishworth. One of the things I will agree with, which I think is a good move by the Albanese Government, is people with milder disabilities will be on a different system. It’s an all new system. And I think that’s what part of the NDIS may have been – the determination between people with milder disabilities, with more severe disabilities. But the only problem is the states aren’t getting on board. What’s the update? Because I know that you’ve been working behind the scenes on this, you want to try and get this rolled out by about July 1. Are the states playing ball?

    AMANDA RISHWORTH: This is a joint effort between states and territories and just last week, First Ministers agreed to continue work on what are called foundational supports. And I have to be really clear, these supports will be critical for people. We also need to make sure the evidence is there behind these supports as well. So, we’re working very closely with the states and territories, and we will continue to do so. We are still expecting that foundational supports will start to be rolled out in the second half of this year. Although just to be clear, it was never expected the whole system would be set up in the second half of this year. As the NDIS Review pointed out, there was a long term process. But look, I’m working with absolute good faith with the states and territories. Look, there’s different views and we’ll keep working with them, but I know they are keen as well to make sure that children particularly with disability, get the best evidence-based support they can that actually make a difference and actually change the trajectory of their lives. And that’s what I’m focused on.

    PETER FEGAN: Minister, before I let you go, I’ve just had a message here from the Prime Minister’s office that says Pete, you can ask the Minister, we’re giving her permission to let us know when the election is. You’re right to go.

    AMANDA RISHWORTH: Unfortunately that’s above my pay grade.

    PETER FEGAN: I’d say April 12. You’ll be busy. I’d say April 12. Minister, thanks for having for jumping on this morning. Nice to have your time.

    AMANDA RISHWORTH: No worries, have a good one.

    MIL OSI News –

  • MIL-OSI USA: Governor Kehoe Signs Executive Order 25-17 in Preparation of Forecasted Hazardous Winter Weather

    Source: US State of Missouri

    FEBRUARY 10, 2025

    Jefferson City — Today, Governor Mike Kehoe signed Executive Order 25-17 as a precautionary measure to prepare for hazardous winter weather expected to impact the State of Missouri starting tomorrow, Tuesday, February 11. The Order waives certain hours of service requirements for commercial vehicles transporting residential heating fuel and activates the Missouri National Guard for state and local response efforts, if needed.

    “With hazardous winter weather forecasted for this week across much of the state, we want to be as prepared as possible,” Governor Kehoe said. “We ask that all Missourians be proactive, stay aware, and use extreme caution during these potentially dangerous winter weather events. This Order helps ensure homes in Missouri can stay warm and that state government and our National Guard members stand ready to assist.”

    Executive Order 25-17 suspends hours of service regulations for motor carriers transporting residential heating fuels, including propane, natural gas, and heating oil. The Order also gives the Adjutant General of the State of Missouri the authority to call and order into active service such portions of the organized militia as he deems necessary to aid Missourians.

    After a round of light snow primarily across the Ozarks Monday night into Tuesday, the National Weather Service forecasts a more significant winter storm to impact the state beginning overnight Tuesday into Wednesday. Heavy snow, sleet, and freezing rain are expected to lead to widespread travel impacts. Mainly snow is expected north of the I-44 corridor with a chance of at least four inches across northern Missouri, and a wintery mix is expected along and south of the I-44 corridor.

    Motorists are encouraged to postpone travel if possible. If you must travel, use extreme caution and check road conditions before driving to help determine if your trip can be completed safely. The Missouri Department of Transportation’s (MoDOT) Traveler Information Map app can be accessed on desktop and mobile devices here.

    Executive Order 25-17 will expire on March 10, 2025. To view the Order, please click here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Dominican National Sentenced for Role in Human Smuggling Event that Resulted in 11 Deaths

    Source: US State of California

    A Dominican national was sentenced today to nine years in prison for his involvement in a deadly human smuggling venture that resulted in the deaths of 11 smuggled aliens.

    According to court documents, on or about the evening of May 12, 2022, Fermin Montilla, 45, piloted a vessel carrying 48 individuals from the Dominican Republic to Puerto Rico, with the intent of bringing those individuals to the United States illegally. At some point during the journey, the vessel took on water and capsized, and 11 people drowned.

    “The defendant attempted to illegally smuggle 48 migrants into the United States, leading to the tragic deaths of 11 people,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “Human smugglers threaten our national security and exploit vulnerable people for profit with no regard for their safety. The Criminal Division is committed to eliminating these transnational criminal smuggling organizations and protecting the public and those who would fall victim to them.”

    “Human smuggling operations not only violate U.S. law and threaten our national security, but they also endanger the lives of the smuggled migrants and result in death as in this case,” said U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico. “The Justice Department and the U.S. Attorney’s Office will continue to work with our federal, state, and local partners to bring those who smuggle illegal aliens to justice and dismantle their criminal organizations.”

    “It is essential to send a strong message to individuals that take advantage of the vulnerable by endangering lives undermining the safety and security of our communities,” said Special Agent in Charge Rebecca Gonzalez-Ramos of Homeland Security Investigations (HSI) San Juan. “In this one incident we lost 11 lives, we need to protect individuals from this heinous crime. We will continue to use all resources to pursue and to bring to justice transnational criminal organizations that jeopardize the safety of others exploiting immigration laws. To those seeking to be smuggled into the United States, please remember that it’s extremely dangerous and is not worth your life, these individuals do not care.”

    On Sept. 13, 2024, Montilla pleaded guilty to one count of bringing aliens to the United States at a place other than a designated port of entry resulting in death.

    HSI San Juan investigated this case, with assistance from U.S. Customs and Border Protection, U.S. Border Patrol, the U.S. Coast Guard, and the Puerto Rico Police Bureau.

    Trial Attorney Angela Buckner of the Criminal Division’s Human Rights and Special Prosecutions Section and U.S. Coast Guard Special Assistant U.S. Attorney Helena Daniel for the District of Puerto Rico prosecuted the case.

    The investigation is being conducted under the Extraterritorial Criminal Travel Strike Force (ECT) program, a joint partnership between the Justice Department’s Criminal Division and HSI. The ECT program focuses on human smuggling networks that may present particular national security or public safety risks, or present grave humanitarian concerns. ECT has dedicated investigative, intelligence and prosecutorial resources. ECT coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    Last June, the Justice Department formally transmitted to Congress a new legislative proposal to increase the recommended penalties for the most prolific and dangerous human smugglers. The proposal, titled the “Deterring Human Smuggling and Harm to Victims Act of 2024,” would amend U.S. Sentencing Guideline 2L1.1, which governs human smuggling offenses, by creating steeper penalty tiers based on the number of people smuggled by the defendant; increasing penalties when the defendant’s conduct results in injury or death to more than one person; and ensuring defendants are subject to sentencing enhancements for sexual assault and other types of prohibited sexual conduct committed during the smuggling offense, even if that conduct occurred outside U.S. jurisdiction. The Department has been working with interested Members of Congress to advance the proposal so that the Sentencing Guidelines accurately account for the full scope of violence that can result from human smuggling.

    MIL OSI USA News –

  • MIL-OSI Security: Dominican National Sentenced for Role in Human Smuggling Event that Resulted in 11 Deaths

    Source: United States Attorneys General 7

    A Dominican national was sentenced today to nine years in prison for his involvement in a deadly human smuggling venture that resulted in the deaths of 11 smuggled aliens.

    According to court documents, on or about the evening of May 12, 2022, Fermin Montilla, 45, piloted a vessel carrying 48 individuals from the Dominican Republic to Puerto Rico, with the intent of bringing those individuals to the United States illegally. At some point during the journey, the vessel took on water and capsized, and 11 people drowned.

    “The defendant attempted to illegally smuggle 48 migrants into the United States, leading to the tragic deaths of 11 people,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “Human smugglers threaten our national security and exploit vulnerable people for profit with no regard for their safety. The Criminal Division is committed to eliminating these transnational criminal smuggling organizations and protecting the public and those who would fall victim to them.”

    “Human smuggling operations not only violate U.S. law and threaten our national security, but they also endanger the lives of the smuggled migrants and result in death as in this case,” said U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico. “The Justice Department and the U.S. Attorney’s Office will continue to work with our federal, state, and local partners to bring those who smuggle illegal aliens to justice and dismantle their criminal organizations.”

    “It is essential to send a strong message to individuals that take advantage of the vulnerable by endangering lives undermining the safety and security of our communities,” said Special Agent in Charge Rebecca Gonzalez-Ramos of Homeland Security Investigations (HSI) San Juan. “In this one incident we lost 11 lives, we need to protect individuals from this heinous crime. We will continue to use all resources to pursue and to bring to justice transnational criminal organizations that jeopardize the safety of others exploiting immigration laws. To those seeking to be smuggled into the United States, please remember that it’s extremely dangerous and is not worth your life, these individuals do not care.”

    On Sept. 13, 2024, Montilla pleaded guilty to one count of bringing aliens to the United States at a place other than a designated port of entry resulting in death.

    HSI San Juan investigated this case, with assistance from U.S. Customs and Border Protection, U.S. Border Patrol, the U.S. Coast Guard, and the Puerto Rico Police Bureau.

    Trial Attorney Angela Buckner of the Criminal Division’s Human Rights and Special Prosecutions Section and U.S. Coast Guard Special Assistant U.S. Attorney Helena Daniel for the District of Puerto Rico prosecuted the case.

    The investigation is being conducted under the Extraterritorial Criminal Travel Strike Force (ECT) program, a joint partnership between the Justice Department’s Criminal Division and HSI. The ECT program focuses on human smuggling networks that may present particular national security or public safety risks, or present grave humanitarian concerns. ECT has dedicated investigative, intelligence and prosecutorial resources. ECT coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    Last June, the Justice Department formally transmitted to Congress a new legislative proposal to increase the recommended penalties for the most prolific and dangerous human smugglers. The proposal, titled the “Deterring Human Smuggling and Harm to Victims Act of 2024,” would amend U.S. Sentencing Guideline 2L1.1, which governs human smuggling offenses, by creating steeper penalty tiers based on the number of people smuggled by the defendant; increasing penalties when the defendant’s conduct results in injury or death to more than one person; and ensuring defendants are subject to sentencing enhancements for sexual assault and other types of prohibited sexual conduct committed during the smuggling offense, even if that conduct occurred outside U.S. jurisdiction. The Department has been working with interested Members of Congress to advance the proposal so that the Sentencing Guidelines accurately account for the full scope of violence that can result from human smuggling.

    MIL Security OSI –

  • MIL-OSI: Notice of minimum investment amount increase for the EdgePoint Canadian Portfolio

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — EdgePoint Wealth Management Inc. (“EdgePoint”) announced today that it is changing the minimum amount of an initial investment in the EdgePoint Canadian Portfolio (the “Fund”) from $20,000 (the “Previous Minimum”) to $100,000 (the “New Minimum”).

    The New Minimum investment amount must be met per account and per Fund series. The minimum initial investment is subject to change at EdgePoint’s discretion.

    Why is EdgePoint raising the Fund’s minimum initial investment amount?

    The Canadian marketplace offers compelling investment opportunities; however, its size can pose investment restrictions. EdgePoint monitors the Fund’s size and inflows to ensure the Investment Team retains the flexibility needed to capitalize on them.

    The minimum increase is not being made due to capacity constraints today, but to potentially avoid them in the future. The flexibility to look anywhere in Canada for businesses undergoing positive change unrecognized by the market will never be compromised.

    One of EdgePoint’s measures of success is working with advisors who are aligned with its long-term investment approach. It is important to avoid attracting short-term performance chasers rather than like-minded investors.

    Raising the minimum investment threshold is a way of measuring an advisor’s alignment with EdgePoint by asking them to put their money (and conviction) where their mouth is. While this change does not guarantee alignment, it reinforces EdgePoint’s goal of delivering strong long-term returns while prioritizing the best interests of its investors. A stronger, more aligned investor base will create a better experience for all.

    EdgePoint is not an asset gathering firm. Selling and promoting a fund based on performance always serves the needs of the investment firm over the investor. These are necessary steps to protect the integrity of the Fund and to allow EdgePoint to continue building wealth for their long term and very aligned Canadian investors.

    Additional information about the Fund, including the simplified prospectus and Fund Facts, can be found on the Fund’s SEDAR+ profile at www.SEDARPLUS.ca or on EdgePoint’s website at www.edgepointwealth.com.

    ABOUT EDGEPOINT WEALTH MANAGEMENT

    EdgePoint Wealth Management Inc. is an independent investment management firm based in Toronto and owned and operated by investors.

    Contact: Patrick Farmer at 416.963.9353 or farmer@edgepointwealth.com.

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    This is not an offer to purchase. Mutual funds can only be purchased through a registered Dealer. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. EdgePoint® and Owned and Operated by Investors™ are trademarks of EdgePoint Investment Group Inc.

    The MIL Network –

  • MIL-OSI New Zealand: Man charged with murder in relation to Ngāruawāhia death

    Source: New Zealand Police (National News)

    To be attributed to Detective Senior Sergeant Andrew Saunders:

    A 34-year-old man has been charged with the murder of Turipapa Tukere, who died following an altercation in Ngāruawāhia on 27 December.

    The man was arrested this morning, following two search warrants in Hamilton carried out with the assistance of the Armed Offenders Squad, and a search warrant in Tauranga. 

    He is scheduled to appear in Hamilton District Court today.

    We would like to thank the Ngāruawāhia community for their support during the investigation into Turipapa’s death. 

    The investigation is ongoing and we are not ruling out further arrests.

    If you have information which could assist the investigation team but have not yet spoken to us, please get in touch via 105, either online or over the phone.

    Please reference file number 241227/6958.
     

    ENDS

    Issued by Police Media Centre. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Universities – Covid strategies ‘fell short’ for Pacific people, research finds – UoA

    Source: University of Auckland (UoA)

    Research on the impacts of Covid-19 highlights high death rates among Pacific people in Aotearoa and the need to provide better support in the future.

    A report has just been publicly released – Pacific contribution to the New Zealand COVID-19 response – Strengths, Weaknesses and Missed Opportunities.

    It notes that despite the overall success of New Zealand’s response to Covid, Pacific people were hard hit and the response failed to target their needs adequately, says research lead, Professor Sir Collin Tukuitonga, co-director of Te Poutoko Ora a Kiwa – Centre for Pacific and Global Health at the University of Auckland.

    “Despite clear and consistent evidence related to the disproportionate impact of Covid-19 on Pacific communities, the national response fell short of engaging with Pacific leaders, instead adopting a generic ‘one size fits all’ approach,” the report states.

    Pacific people were twice as likely to be hospitalised with Covid as non-Pacific and non-Māori in Aotearoa, according to the research, which was funded by the Ministry of Health and carried out by the Centre for Pacific and Global Health and two Pacific health and social service providers, the Pasifika Medical Association and the Fono.

    A far higher percentage of Pacific people aged under 80 died within 28 days of being reported as a case, than those aged under 80 in other ethnic groups. Of the people aged under 59 years who died within 28 days of being reported as a case, 20 percent were Pacific, compared to eight percent of those categorised as European/other ethnicities of the same age.

    The experiences of 147 Pacific people were gathered for the report, which states the virus and ensuing lockdowns took a significant toll on the mental health of all the participants.

    Media coverage named a Pacific church as central to a large Covid cluster in August 2021, fuelling “racist vilification” of the Sāmoan community, stigma and discrimination, the report says.

    “Government officials, media and Pacific community leaders need to collaborate closely and quickly to prevent similar occurrences of racism from media reports for future pandemics,” it states.

    Many Pacific people were essential workers, who experienced fear and anxiety of the virus, in addition to racism.

    The challenges of lockdowns and self-isolation were exacerbated for many Pacific families living in multi-generational households.

    “The findings from the Covid-19 global pandemic emphasise the existing socioeconomic disparities, such as overcrowded living conditions, high rates of co-morbidities, and delayed access to healthcare, contributing to the disproportionate impact on Pacific and Māori communities.

    “Recognising and addressing these structural inequalities are essential components of any comprehensive public health strategy aimed at mitigating the impact of pandemics on vulnerable populations,” the report states.

    About 28 percent of Pacific peoples felt they couldn’t access mental health support during alert levels two, three and four, and 26 percent felt they could not access healthcare.

    The report recommends that in the future, Pacific health services be given clear guidelines as soon as possible, so they can begin outreach work with Pacific communities and ensure patients still receive healthcare for long-term conditions.

    It recommends reviewing policies on hospital visitors, because these were the most challenging of all protective measures for Pacific families.

    Plans should enable Pacific communities to establish testing and vaccination centres at the beginning of an outbreak and factor in mental health impacts.

    The importance of the church in offering guidance, combating misinformation and offering social support during a pandemic is highlighted in the reports.

    While vaccine uptake was initially slow among Pacific people, 95 percent were fully vaccinated by December 2021. About 68 percent of the participants said caring for family motivated their decision to get vaccinated.

    Pacific households faced disproportionate economic hardship during 2020 compared to the general population, with 18 percent of households losing half of their income or more.

    Education also suffered, as online learning replaced classroom teaching. The research found 20 percent of Pacific students did not have or did not know if they had access to a device at home for distance learning.

    “Long-term impacts of loss in learning and disengagement from school require further investigation,” the report states.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Social Issues – Disability support services consultation underway – from Invercargill to Whangarei

    Source: Ministry of Social Development

    People in the disability community are invited to have their say in a six-week consultation that begins this week and runs until 24 March 2025.
    Disability Support Services was transferred from the Ministry of Disabled People – Whaikaha to the Ministry of Social Development (MSD) last year, after an Independent Review recommended changes to stabilise the system.
    The head of Disability Support Services at MSD, Chris Bunny, says feedback is being sought on specific proposals for change.
    “We are seeking feedback on:
    • how needs are assessed, and decisions made on how support is allocated
    • options for changes to flexible funding.
    “My message to the disability community is I know the changes of last year have been difficult for some people, and this year we want to make progress on strengthening the disability support system for disabled people, their whānau and carers.
    “We are working to stabilise disability support services so they are more fair, consistent, transparent and sustainable.
    “This is a major round of consultation which builds on what the disabled community told us in a survey late last year.
    “There’s lots of different ways people can have their say.
    “In-person workshops will be held in Auckland, Christchurch, Dunedin, Christchurch, Wellington, Hamilton, Invercargill, Lower Hutt, Napier, Nelson, New Plymouth, Palmerston North, Porirua, Rotorua, Wellington, and Whangarei.
    In addition, people can attend an online workshop, make a written or video submission, or complete an online survey. There are also DIY resources for people or organisations who want to host their own workshops to support their submissions.
    “Please register to book your place for a workshop in-person or online. You can do that at the Disability Support Services website, disabilitysupport.govt.nz
    “We’ve released a discussion document outlining the issues and proposals on the way forward.
    “Your feedback will help Government to make decisions to stabilise services, before considering further work to strengthen those supports,” says Mr Bunny.
    Editor’s notes
    What is this consultation about?
    The consultation is focused on essential disability support people receive after an assessment from a Needs Assessment Service Coordination provider, or an Enabling Good Lives site.
    While everyone is welcome to participate, Disability Support Services especially want to hear from people receiving these services and whānau, carers, and advocates. 
    The changes under discussion do not apply to people who only receive supports from other agencies, such as ACC, Ministry of Education, Ministry of Health, Ministry of Transport, or Work and Income. 
    What is being proposed?
    Needs assessments
    • Improving how the tool reflects the diversity of disability
    • Proposals that the needs of family/whānau become part of the assessment
    • Making sure services continue to meet their needs – how often should supports be reviewed or reassessed?
    • Proposal that NASCs identify supports that are available through other agencies and provide guidance on how these can be accessed
    Flexible Funding – two options
    • Option 1 – Linking flexible funding to the person’s plan, with oversight of how it is used
    • Option 2 – Adjust current lists of what can and can’t be funded using flexible funding.
    There are also proposals to introduce criteria for receiving flexible funding, and questions on what these should be.
    How do people register for workshops?
    Can media attend workshops or film them?
    Community consultation will begin with a presentation followed by work in smaller groups. To protect the privacy of those attending, these events are closed to media, unless reporters are there in a personal capacity to take part in the consultation. However , you may wish to talk to people outside the venue if you would like to.
    Is the consultation going to be accessible?
    Yes, alternate formats are available of the discussion document summary, including Easy Read, Braille, Audio, Large Print and New Zealand Sign Language. There are also translations in te reo Māori, Samoan, and Tongan.
    We will also have sign language interpreters at our in-person and online workshops.
    Venues for our in-person workshops have been selected because they are accessible, including access points, toilets, and the working spaces themselves.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Calling rangatahi changemakers: Applications now open for Save the Children’s 2025 Youth Ambassador programme

    Source: Save the Children

    Save the Children is searching for passionate young changemakers to join Generation Hope New Zealand, an inspiring youth leadership programme that empowers rangatahi aged 14 – 18 to take action for children’s rights and global issues.
    Now more than ever, young people need the support, skills, and opportunities to make their voices heard. From leading workshops and hosting panel discussions to advocacy and engaging with political leaders. Generation Hope Youth Ambassadors take real action to shape a fairer world.
    “This programme really stands out as an opportunity for young people to not only learn about the work of Save the Children and their own rights but also to feel empowered to act – for themselves, their peers, and their wider communities,” says Vira Paky, Save the Children NZ’s Youth Engagement Co-ordinator.
    “Bringing together like-minded young people who care about fairness, education, and community creates an unparalleled environment. Watching the friendships and knowledge blossom from this programme is such a privilege.”
    Through Generation Hope, youth ambassadors receive leadership training, advocacy skills, and a platform to drive meaningful change. During the programme, past members have held youth-led events and panel discussions, met with politicians, including presenting children’s climate action messages to Ministers at Parliament. Past members have gone on to set up their own youth councils and youth-led organisations.
    “Generation Hope allowed me to form so many friendships with so many other young people willing to advocate for the issues in their communities, that I’m sure will last for many years to come.” says Generation Hope alumna Annamieka.
    “Just go for it and apply,” says Generation Hope alumna Cassie. “There’s nothing for you to lose and everything for you to gain.”
    SCNZ Media and Communications Director Amie Richardson is currently travelling for work. For interviews, please contact Advocacy and Research Director Jacqui Southey on 027 647 7004.  About Save the Children NZ: Save the Children works in 120 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected. Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health and Fitness – Postie Bike Challenge – from delivering mail to delivering a vital message for kiwi males – Prostate Foundation

    Source: Prostate Cancer Foundation

    It takes a special kind of human to load up a small motorbike, with a top speed of 80 km/hr, and head off from one end of the country to the other. But that’s exactly what an intrepid group of self-described “Mild Hogs” all on the wrong side of 50, are doing to make a difference to those affected by the most commonly diagnosed cancer in kiwi men – prostate cancer.
    The Mild Hogs Charity Motorcycle Ride aka the ‘Postie Bike Challenge’ will see the six hogs (Brian, Murray, Martin, Ian, Julian and Scott) embark on a 12-day 2,500 km odyssey on 109cc motorbikes designed for delivering mail – the trusty Honda NBC110 – without a support vehicle or backup.
    “It could be a long journey, but we all felt the need for a good adventure and it’s all in aid of a good cause,” said Hog spokesperson Ian Pringle.
    Behind this two-wheeled adventure a serious issue – 1 in 8 kiwis will be diagnosed with prostate cancer in their lifetime, it is now the most commonly diagnosed cancer in the country and the second leading cause of cancer death in NZ men.
    “This is why the Postie Bike Challenge is so important and why we are very proud and grateful to the Mild Hogs for raising awareness of the disease and vital funds for those affected by it” said Peter Dickens, Chief Executive of Prostate Cancer Foundation NZ.
    In a valiant display of spirit (or perhaps a touch of madness?) these daring souls will stamp their mark on men’s health, avoiding motorways, salads and late nights. From the majestic Cape Reinga (16 th February) they will traverse the heart of the North Island, the charming North Canterbury, onward to the breathtaking Central Otago via the rugged West Coast, to arrive at Bluff – culminating at Bluff on 27 th February -signed, sealed, and delivered.
    “I have very fond memories of waiting for important news to arrive in the letterbox delivered by my friendly postie on their trusty bike, little did I know that years later six intrepid men would be making such an amazing effort on these same machines, in support of all those affected by prostate cancer in Aotearoa New Zealand”, says Peter Dickens.
    Through their efforts, the Mild Hogs will be making a real difference to those diagnosed, and their families, helping to provide vital support and raising awareness of the disease as they traverse the country. We’re very grateful and humbled by their efforts and will be cheering them on in every town they visit along the way.
    It will be amazing if our fellow kiwis can do the same and also take a moment to visit their GiveALittle page to show these mad buggers some support by making a donation. Hyperlink: https://givealittle.co.nz/fundraiser/postie-bike-challenge

    MIL OSI New Zealand News –

  • MIL-OSI USA: Therapy helps peanut-allergic kids tolerate tablespoons of peanut butter

    Source: US Department of Health and Human Services – 2

    News Release

    Monday, February 10, 2025

    NIH trial informs potential treatment strategy for kids who already tolerate half a peanut or more.

    Eating gradually increasing doses of store-bought, home-measured peanut butter for about 18 months enabled 100% of children with peanut allergy who initially could tolerate the equivalent of at least half a peanut to consume three tablespoons of peanut butter without an allergic reaction, researchers report. This easy-to-implement treatment strategy could potentially fulfill an unmet need for about half of children with peanut allergy, who already can tolerate the equivalent of at least half a peanut, considered a high threshold. The findings come from a trial sponsored and funded by the National Institutes of Health’s National Institute of Allergy and Infectious Diseases (NIAID) and published today in the journal NEJM Evidence.

    “Children with high-threshold peanut allergy couldn’t participate in previous food allergy treatment trials, leaving them without opportunities to explore treatment options,” said NIAID Director Jeanne Marrazzo, M.D., M.P.H. “Today’s report focuses on this population and shows that a very safe and accessible form of therapy could be liberating for many of these children and their families.”

    The food allergy treatments currently approved by the Food and Drug Administration were tested in children with low-threshold peanut allergy, who cannot tolerate the equivalent of even half a peanut. These treatments are designed to decrease the likelihood of a reaction to a small amount of peanut despite efforts to avoid it, as might occur with accidental exposure. This approach is not relevant to the estimated 800,000 U.S. children who may have high-threshold peanut allergy, leaving them with only one management strategy prior to the new report: peanut avoidance.

    To address this need, researchers tested whether a low-cost, convenient treatment strategy could help children with high-threshold peanut allergy tolerate a much greater amount of peanut protein than they already did. The mid-stage trial involved 73 children ages 4 to 14 years. Based on parent or guardian report, nearly 60% of the children were white, 19% were Asian, 1.4% were Black, and 22% were more than one race. The study team assigned the children at random to either test the new treatment strategy or continue avoiding peanut.

    Those in the peanut-ingestion group began with a minimum daily dose of 1/8 teaspoon of peanut butter. They gradually increased their dose every eight weeks up to 1 tablespoon of peanut butter or an equivalent amount of a different peanut product, such as peanut flour or candies. Dose increases took place under medical supervision at the study site. None of the children in the peanut-ingestion group needed epinephrine to treat severe allergic reactions during home dosing, and only one child needed epinephrine during a supervised dosing visit at the study site.

    After undergoing the treatment regimen, the peanut-consuming children participated in an oral food challenge carefully supervised by the study team to see how much peanut butter they could eat without an allergic reaction. All 32 children who participated in the challenge could tolerate the maximum amount of 9 grams of peanut protein, the equivalent of 3 tablespoons of peanut butter. By contrast, only three of the 30 children in the avoidance group who underwent the oral food challenge after a similar amount of time in the trial could tolerate 9 grams of peanut protein. Three additional children in the avoidance group tolerated a challenge dose at least two doses greater than the amount they could tolerate at the start of the study.

    The trial took place during the COVID-19 pandemic, and some families preferred to avoid indoor close contact with others at that time, so some children did not return to the study site for the oral food challenge. Using a common statistical technique to account for those missing challenge results, 100% of the ingestion group and 21% of the avoidance group tolerated at least two doses greater than they could at the outset.

    Children in the peanut-ingestion group who could tolerate 9 grams of peanut protein during the oral food challenge consumed at least 2 tablespoons of peanut butter weekly for 16 weeks, then avoided peanut entirely for eight weeks. At that point, they were asked to return to the study site for a final oral food challenge.

    Twenty-six of the 30 treated children (86.7%) who participated in the final challenge continued to tolerate 9 grams of peanut protein, indicating they had achieved sustained unresponsiveness to peanut. The three children in the avoidance group who could eat 9 grams of peanut protein without a reaction at the earlier challenge were considered to have developed natural tolerance to peanut. Analyzing these outcomes and including all 73 children who began the trial, regardless of whether they participated in the final challenge, investigators found that 68.4% of the peanut-ingestion group achieved sustained unresponsiveness, while only 8.6% of the avoidance group developed natural tolerance.     

    Based on these encouraging results, the investigators want to learn if the same treatment strategy would work for food allergens other than peanuts. Future follow-up is needed to determine the therapy’s effectiveness at inducing long-lasting tolerance of peanut.

    Scott H. Sicherer, M.D., and Julie Wang, M.D., led the trial, which took place at the Elliot and Roslyn Jaffe Food Allergy Institute in Mount Sinai Kravis Children’s Hospital, New York. Dr. Sicherer is director of the Institute and the Elliot and Roslyn Jaffe Professor of Pediatric Allergy and Immunology. He is also chief of the Division of Allergy and Immunology in the Department of Pediatrics and medical director of the Clinical Research Unit in the ConduITS Institute for Translational Sciences at Icahn School of Medicine at Mount Sinai. Dr. Wang is a professor of pediatric allergy and immunology in the Elliot and Roslyn Jaffe Food Allergy Institute. 

    More information about the clinical trial, called the CAFETERIA study, is available at ClinicalTrials.gov under study identifier NCT03907397.

    NIAID conducts and supports research—at NIH, throughout the United States, and worldwide—to study the causes of infectious and immune-mediated diseases, and to develop better means of preventing, diagnosing and treating these illnesses. News releases, fact sheets and other NIAID-related materials are available on the NIAID website.

    About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.

    NIH…Turning Discovery Into Health®

    Reference

    SH Sicherer et al. Randomized trial of high dose, home measured peanut oral immunotherapy in children with high threshold peanut allergy. NEJM Evidence DOI: 10.1056/EVIDoa2400306 (2025)

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    MIL OSI USA News –

  • MIL-OSI Australia: Glendenning one step closer to a new ambulance station

    Source: New South Wales Government 2

    Headline: Glendenning one step closer to a new ambulance station

    Published: 10 February 2025

    Released by: Minister for Health

    Communities in Glendenning, Doonside and the surrounding suburbs are a step closer to a new purpose-built ambulance station following the purchase of a site for a new Ambulance Station on Glendenning Road.

    The new Glendenning Ambulance Station is being delivered to boost frontline emergency care for the Glendenning and Doonside communities as part of the NSW Government’s $615.5 million NSW Ambulance Infrastructure Program.

    The new station will support local paramedics to provide the best emergency and mobile medical care now and into the future.

    NSW Ambulance identified the area as a high priority location for a new ambulance station following a comprehensive service planning process using best practice modelling software to map Triple Zero (000) calls.

    New stations are located at places which optimise ambulance response performance, best meet the needs of local community as well as the needs of emergency ambulance operations and paramedic staff.

    The next steps for the Glendenning Ambulance Station include design development and progressing planning approval. Construction and operational timeframes will be determined as the project progresses.

    The NSW Ambulance Infrastructure Program will deliver 30 additional ambulance stations and supporting infrastructure across Sydney, the Central Coast, Newcastle, the Hunter and Wollongong over the coming years, boosting frontline emergency ambulance care.

    Health Infrastructure is working with NSW Ambulance and other government stakeholders to identify potential sites for the new ambulance stations. Sites are confirmed for North Sydney, South Windsor, Oran Park, Berowra, Prestons, Moss Vale, Bargo, Lisarow and now Glendenning.

    The NSW Government is recruiting 2,500 additional NSW Ambulance staff including 500 paramedics to rural and regional areas, to boost emergency and mobile healthcare for our metropolitan and regional communities.

    Quotes attributable to Minister for Health, Ryan Park:

    “The purchase of this site marks a significant milestone in delivering a vital health service for growing communities in Glendenning, Doonside and surrounding suburbs.

    “The new Glendenning Ambulance Station will support local paramedics to provide the best emergency and mobile medical care well into the future.

    Quotes attributable to Member for Blacktown, Stephen Bali:

    “The new Glendenning Ambulance Station will bolster emergency care for the Western Sydney community and provide a first-class facility for NSW Ambulance paramedics.

    “The new ambulance station will improve ambulance network coverage and support existing stations and paramedic teams including the ambulance station at Blacktown.”

    MIL OSI News –

  • MIL-OSI Security: Convicted Knoxville Gang Leader Sentenced To 45 Years For Drug Trafficking, Firearms, and Money Laundering Crimes

    Source: Office of United States Attorneys

    KNOXVILLE, Tenn. On February 10, 2025, Bryan Cornelius, 34, of Knoxville, was sentenced to a total term of 45 years in prison by the Honorable Thomas A. Varlan, United States District Judge, in the United States District Court for the Eastern District of Tennessee at Knoxville.  Following his imprisonment, Cornelius will be on supervised release for five years.

    The sentencing follows Cornelius’s federal trial in April 2022, during which a jury convicted him of conspiring to distribute various controlled substances, including methamphetamine, heroin, fentanyl, and marijuana.  The evidence presented at trial included wiretaps of multiple cellular phones, multiple search warrants at various Knoxville residences, narcotics, firearms, and cash seizures.  The evidence showed that Cornelius, a member of the Gangster Disciples street gang, was ordering narcotics from different sources of supply in California and receiving packages of methamphetamine and marijuana through the United States Postal Service (USPS), Fed-Ex, and UPS throughout 2019 and that he maintained multiple addresses across Knoxville to stash his narcotics, firearms, and cash to facilitate his narcotics distribution.  In addition, the evidence showed that, in furtherance of his drug trafficking, at approximately 2:45 p.m. on November 21, 2019, Cornelius, along with two others, drove by the Stop-n-Go on Brooks Avenue and Cornelius and fired fifteen rounds of 7.62mm into a Mercedes-Benz.  The driver sustained two non-life-threatening gunshot wounds.  The jury also convicted Cornelius of conspiracy to commit money laundering. According to court documents, twenty-two other charged members of the conspiracy previously pleaded guilty.

    In determining the sentence, Judge Varlan took into account several aggravating factors, including Cornelius’s role as a leader and organizer of the crimes, his credible threats of violence made against other people in connection with his crimes, and his use of guns and violence in connection with his crimes.

    U.S. Attorney Francis M. Hamilton III of the Eastern District of Tennessee; Special Agent in Charge Joe Carrico of the Federal Bureau of Investigation (FBI), and Tommy D. Coke of the U.S. Postal Inspector in Charge of the Atlanta Division, made the announcement.

    This conviction and sentence resulted from an investigation conducted by the FBI HIDTA Task Force and the United States Postal Inspection Service (USPIS).  The FBI HIDTA Task Force includes the Roane County Sheriff’s Office, Knoxville Police Department, Knox County Sheriff’s Office, Blount County Sheriff’s Office, and Sevier County Sheriff’s Office. The Tennessee Bureau of Investigation and the Drug Enforcement Administration, also assisted in this investigation by conducting drug analysis on seized narcotics in the case.

    Assistant United States Attorneys Cynthia Davidson and Alan Kirk represented the United States.

    This case was part of the Department’s Organized Crime Drug Enforcement Task Force (OCDETF) and the HIDTA programs.  OCDETF is the primary weapon of the United States against the highest-level drug trafficking organizations operating within the United States, importing drugs into the United States, or laundering the proceeds of drug trafficking.  The HIDTA program enhances and coordinates drug control efforts among local, State, and Federal law enforcement agencies.  The program provides agencies with coordination, equipment, technology, and additional resources to combat drug trafficking and its harmful consequences in critical regions of the United States.

    This case is also part of Project Safe Neighborhoods (PSN), the centerpiece of the Department of Justice’s violent crime reduction efforts. PSN is an evidence-based program proven to be effective at reducing violent crime.  Through PSN, a broad spectrum of stakeholders working together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

                                                                                                                              ###

    MIL Security OSI –

  • MIL-OSI Security: Wethersfield Man Sentenced to More Than 8 Years in Prison for Distributing Fentanyl and Oxycodone to Overdose Victim

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that JIMMY LASSUS, 40, of Wethersfield, was sentenced today by U.S. District Judge Kari A. Dooley in Bridgeport to 100 months of imprisonment, followed by three years of supervised release, for distributing fentanyl and oxycodone to an overdose victim.

    According to court documents and statements made in court, in the early morning of October 6, 2023, Meriden Police responded to a residence on a report of a suspected overdose and found a 27-year-old woman unresponsive in a bedroom.  She was transported to the hospital where she was pronounced deceased.  The investigation revealed that for several months before the victim’s death, the victim engaged in numerous drug-related text message conversations with Lassus.  The text messages revealed that Lassus supplied the victim with oxycodone, and that he supplied her with fentanyl that she ingested in the hours before she died.  The victim stated in text messages and in a journal entry that it was her first time using fentanyl.

    The Office of the Chief Medical Examiner determined the victim’s death to be caused by acute intoxication due to the combined effects of fentanyl, benzodiazepines, xylazine, and oxycodone.

    Lassus has been detained since his arrest on April 11, 2024.  On September 30, 2024, he pleaded guilty to distribution of fentanyl and oxycodone.

    This investigation was conducted by the Drug Enforcement Administration New Haven Task Force and the Meriden Police Department, with the assistance of the Wethersfield Police Department.  The Task Force includes members from the DEA, U.S. Marshals Service, Internal Revenue Service – Criminal Investigation Division, Connecticut State Police and the New Haven, Waterbury, East Haven, Branford, West Haven, Ansonia, Meriden, Naugatuck, and Shelton Police Departments.

    The case was prosecuted by Assistant U.S. Attorneys Brendan Keefe and Reed Durham.

    MIL Security OSI –

  • MIL-OSI Security: Final defendant sentenced in large-scale federal drug trafficking case

    Source: Office of United States Attorneys

    BEAUMONT, Texas – A large-scale investigation has concluded with multiple individuals being sentenced to federal prison for drug trafficking and firearms violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    According to information presented in court, beginning in 2021, law enforcement investigated a drug trafficking organization operating throughout East Texas, identifying Edgar Garcia, Jr. as the primary distributor.  Law enforcement began conducting operations to identify numerous individuals receiving methamphetamine from Garcia. During the investigation, law enforcement executed residential search warrants, purchased methamphetamine and/or firearms directly from Garcia and other members of his drug trafficking organization, and directed traffic stops to intercept narcotics and firearms being transported for distribution. Ultimately, multiple kilograms of methamphetamine were seized during the operation.

    Law enforcement was also able to obtain almost a dozen firearms from various individuals in the organization. The firearms were either sold as part of narcotics transactions or being used to guard the illegal drugs.

    This case was prosecuted as part of the joint federal, state, and local Project Safe Neighborhoods (PSN) Program, the centerpiece of the Department of Justice’s violent crime reduction efforts.  PSN is an evidence-based program proven to be effective at reducing violent crime.  Through PSN, a broad spectrum of stakeholders work together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

    The individuals sentenced to federal prison during the investigation and prosecution of the drug trafficking organization are:

    Edgar Garcia Jr., 26, of Nacogdoches, sentenced to 151 months;

    Justin Michael Sanchez, 33, of Nacogdoches, sentenced to 235 months;

    Beverly Hurst, 26, of Center, sentenced to 151 months;

    Jason Clepper, 36, of Goliad, sentenced to 150 months;

    Blake Trahan, 29, of Center, sentenced to 48 months;

    Austin Yarbrough, 32, of Timpson, sentenced to 188 months;

    Laddarus Perkins, 40, of Timpson, sentenced to 135 months;

    Jeanese Fenley, 43, of Timpson, sentenced to 70 months; and

    Koury Nowell, 49, of Gary City, sentenced to 33 months.

    This case was investigated by the FBI; Bureau of Alcohol, Tobacco, Firearms, and Explosives; Texas Department of Public Safety; Shelby County Sheriff’s Office; Nacogdoches County Sheriff’s Office; and Panola County Sheriff’s Office. This case was prosecuted by Assistant U.S. Attorneys Donald S. Carter and Lucas Machicek.

    ###

    MIL Security OSI –

  • MIL-OSI USA: ICYMI: Sen. Joni Ernst in WSJ: USAID Is a Rogue Agency

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – In case you missed it, U.S. Senator Joni Ernst (R-Iowa) detailed in the Wall Street Journal how the U.S. Agency for International Development (USAID) acts against our nation’s best interests and stonewalled her oversight of where tax dollars are going and why. 
    As Senate DOGE Caucus chair and founder, Senator Ernst will continue to work with President Trump’s Department of Government Efficiency (DOGE) to examine how taxpayers’ money is spent and put an end to any waste, fraud, and abuse.
    WSJ: Sen. Joni Ernst: USAID Is a Rogue Agency
    It dodges congressional questions about money that went to sex traffickers and the Wuhan virus lab.
    By: Senator Joni Ernst
    In moments of crisis, America can be counted on for leadership. Our nation’s compassionate giving has saved millions of lives around the world that were at risk from starvation or disease. All Americans should be able to take great pride in our generosity. And the government agencies coordinating aid efforts should be eager to share details about how they’re using taxpayers’ money to make the world a better place.
    Yet the U.S. Agency for International Development, entrusted with disbursing tens of billions of aid dollars to other nations annually, is a rogue bureaucracy. I’ve uncovered that the agency often acts at odds with our nation’s best interests and uses intimidation and shell games to hide where money is going, how it’s being spent and why.
    USAID repeatedly rebuffed my requests for a list of recipients of U.S. tax dollars sent to Ukraine, claiming that the information was classified. Despite the pushback, I persisted. Eventually, USAID permitted my staff to review documents under surveillance in a highly secure room at USAID headquarters, with note-taking prohibited.
    What warranted such secrecy? We learned that the aid that was supposed to alleviate economic distress in the war-torn nation was spent on such frivolous activities as sending Ukrainian models and designers on junkets to New York City, London Fashion Week, Paris Fashion Week and South by Southwest in Austin, Texas.
    I faced the same stonewalling from USAID when I asked about tax dollars being diverted from project missions for largely unrelated costs, known as the negotiated indirect cost rate. The agency claimed that it wasn’t possible to track. My team debunked that by providing USAID staff with a link to a public database. The agency fired back, warning that divulging this information would violate federal laws, including the Economic Espionage Act.
    When I launched a formal investigation in cooperation with the House Foreign Affairs Committee, USAID relented. Turns out, the agency is allowing grantees to skim significant amounts of money, up to and even beyond half of the total, for themselves.
    We need guarantees that U.S. assistance is helping people in need, but a recent review by the agency’s own inspector general found USAID still “does not have proper documentation to support indirect costs charged” by grant recipients.
    I shouldn’t have to ask these questions. All federal spending is required to be publicly available on the website USAspending.gov, a searchable database created nearly two decades ago by a bipartisan law.
    USAID’s sketchy spending schemes were the impetus for this law aimed at making federal funding more transparent. Congressional investigators in 2005 caught the agency supporting an organization involved with the trafficking of teenage girls in Asia. USAID staff called the claims “destructive” and vehemently denied them. The evidence proved otherwise. A pass-through group, set up with the help of former agency employees, was found funneling U.S. tax dollars into abetting the sex trade operation.
    The agency has learned to exploit loopholes in the law, as my investigation into the origins of the pandemic exposed. The watchdog organization White Coat Waste Project was the first to release evidence that both USAID and Anthony Fauci’s National Institute of Allergy and Infectious Diseases were financing bat studies involving coronaviruses at the Wuhan Institute of Virology. Yet no grants to the Chinese lab appeared in USAspending.gov. Audits later uncovered that more than a million dollars from the U.S. government were paying for the dangerous research. The bulk of the money was provided by USAID, not Dr. Fauci.
    USAID evaded the obligation to report this transaction to USAspending.gov by using multiple pass-through organizations, including the nefarious EcoHealth Alliance, which is now barred from receiving U.S. government grants.
    What was our international development agency developing at China’s Wuhan Institute of Virology? If the Central Intelligence Agency and Federal Bureau of Investigation are correct that the Covid virus likely originated from a lab leak, USAID may have had a hand in a once-in-a-century pandemic that claimed the lives of millions.
    There’s no shortage of other questionable USAID projects. More than $9 million intended for civilian food and medical supplies in Syria ended up in the hands of violent terrorists. Another $2 million was spent promoting tourism to Lebanon, a nation the State Department warns against traveling to due to the risks of terrorism, kidnapping and unexploded land mines.
    USAID spent millions of dollars paying people to dig irrigation ditches in Afghanistan and encouraging farmers to grow food crops instead of poppies for opium. The result: Poppy cultivation nearly doubled.
    Many other groups supported by USAID are doing great work, such as caring for orphans and people living with HIV. Imagine how much more good work could be supported with the dollars that instead ended up enriching terrorists, sex traffickers, mad scientists and drug cartels.
    After keeping its spending records hidden from Congress and taxpayers, USAID employees are now protesting the review of the agency’s records by President Trump’s Department of Government Efficiency. It’s no surprise that Washington insiders are more upset at DOGE for trying to stop wasteful spending than at USAID for misusing tax dollars.
    The question we should be asking isn’t why USAID’s grants are being scrutinized, but why it took so long.
    Ms. Ernst, an Iowa Republican, is founder and chairwoman of the Senate DOGE Caucus.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Bill to Expand Child Care Access Advances

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – The Senate Committee on Small Business and Entrepreneurship passed a bipartisan bill to increase the availability of child care for small business owners and working families.
    The Small Business Child Care Investment Act led by Chair Joni Ernst (R-Iowa) and Senator Jacky Rosen (D-Nev.) would allow non-profit child care providers, including religious organizations, to participate in the Small Business Administration (SBA) loan programs.
    “One of the biggest pressures on working families is access to high-quality, affordable child care,” said Ernst. “By advancing this bill, we are one step closer to clearing the red tape and expanding options, especially in rural communities. Not only will it drive down costs for Iowans, but it will strengthen the workforce and make it easier for small businesses to hire and retain capable staff.”
    “The lack of affordable, quality child care options is hurting hardworking Nevada families and forcing them to make tough financial choices,” said Rosen. “That’s why I’ve been working across the aisle to pass my bipartisan bill to help lower costs by increasing access to affordable child care in our state. This legislation will help nonprofits, community organizations, churches, synagogues, and others to set up or expand child care centers, and I’m glad to see it advance out of committee today.”
    The Small Business Child Care Investment Act would:

    Ensure that qualified non-profit providers have equal access to key SBA loan options that allow providers to invest in and expand their operations;
    Create local jobs and give working families more options for affordable and quality child care; and
    Protect religiously-affiliated non-profit providers’ access to the larger and more flexible loan programs like 7(a) and 504 that can be used for real estate, construction, remodeling, and other expenses critical to maintaining and expanding high-quality child care operations.

    Background:
    Ernst has been a strong advocate for increasing access to affordable, high-quality child care in Iowa. 
    On her annual River to River Tour, Ernst routinely visits child care centers to understand the needs of Iowans and bring their voices to Washington.

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn Praises Trump Executive Order Blocking Unconstitutional ATF Rule

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    PALM BEACH, FL – U.S. Senator John Cornyn (R-TX) released the following statement on President Trump’s signing of an Executive Order safeguarding the Second Amendment that included language supporting Sen. Cornyn’s joint resolution of disapproval under the Congressional Review Act to strike down the Bureau of Alcohol, Tobacco, Firearms and Explosives’ (ATF) rule on the definition of “Engaged in the Business” as a Dealer in Firearms, which ignores the law and congressional intent and flagrantly violates the Constitution to try to require anyone who sells a firearm to register as a federal firearm licensee:
    “President Trump is working at a historic pace to enact his agenda, and this executive action to bolster the Second Amendment is the latest example. I appreciate his continued support for fighting back against the partisan interpretation of language relating to federal firearm licensees that we saw during the Biden administration, which nearly all of my Senate Republican colleagues joined me in denouncing last year.
    “I look forward to continuing to work alongside President Trump to ensure Americans’ Second Amendment rights are respected and to pass my concealed carry reciprocity bill as soon as possible.”

    MIL OSI USA News –

  • MIL-OSI USA: Media Advisory: Hearing on Motion for Reduction of Sentence Pursuant to the Juvenile Restoration Act for Adnan Syed

    Source: US State of Maryland

    FOR IMMEDIATE RELEASE
    February 10, 2025

    Government Relations and Public Affairs
    187 Harry S. Truman Parkway
    Annapolis, Maryland 21401

    Media Advisory:
    Hearing on Motion for Reduction of Sentence Pursuant to the Juvenile Restoration Act for Adnan Syed

    ANNAPOLIS, Md. – In a unique court educational program, students will learn about the benefits and consequences of familiar decisions. The program includes a mock traffic stop where students will see in real-time the legal implications of bad decisions. This interactive program allows the students to meet and interact with key players in the legal process, including police officers, K-9 officers, commissioners, assistant public defenders, assistant state’s attorneys, bailiffs, clerks, and judges. In addition, students will hear from people who have been involved with the legal system due to drunk driving, speeding, texting while driving, and other offenses, as they view actual court cases and have an opportunity to engage judges and court personnel in a question-and-answer session regarding the Judiciary.

    The program also includes a mental health component targeted to address the impact of this crisis on youth. This portion of the program, conducted along with mental health professionals, is treatment focused and designed to raise awareness of mental health issues. This segment of the program educates students to recognize the signs that someone is in crisis, both for themselves and each other. It will also highlight resources available to the students and provide ways to immediately connect with those resources.

    WHAT:

    Hearing on the defendant’s Motion for Reduction of Sentence Pursuant to the Juvenile Restoration Act for State of Maryland v. Adnan Syed, case number 199103042.

    Judge Jennifer B. Schiffer will serve as the presiding judge.

    All media covering the proceedings must review and adhere to the 
    Media Protocol Order and the Security Order for the hearing.
    WHEN: Wednesday, February 26, 2026, at 9:30 a.m.
    WHERE:

    Circuit Court for Baltimore City, Mitchell Courthouse
    100 North Calvert Street, Courtroom 203M
    Baltimore, Maryland 21202

    Members of the media can attend remotely via audio only by sending an email request to [email protected].

    At the discretion of the court, limited reserved seating will be available in the gallery of Courtroom 203M. Courtroom 215M is designated as the overflow courtroom for the media and the public, as needed, and it will have a live closed-circuit, audio-video feed.

    Members of the media may request a seat within the courtroom by contacting the court’s media liaisons. The media liaisons will allocate seats based on requests received and will communicate to the Sheriff’s Office the names of media members allotted seats reserved for media. Only those members of the media who have been granted and receive a media credential identification card from the Sheriff’s Office will be permitted in the courtroom during the proceedings. The remaining seats will be made available to the public on a first-come/first-served basis.

    Authorized members of the media will be permitted to use electronic equipment only in the designated area, Courtroom 215M, which will provide a workspace for media representatives. However, devices cannot be used for audio or video recording or still photography in any location inside of the courthouse. No media conferences or interviews with attorneys, parties, or witnesses shall be conducted within the courthouse or within 50 feet of any entrance of the courthouse.

    Per Maryland Code, Criminal Procedure, § 1-201, the recording or broadcasting of criminal proceedings is prohibited. The use of electronic devices, including cell phones, cameras, and audio-visual equipment is prohibited or limited per the Maryland Judiciary’s policy on Cell Phones, Other Electronic Devices, and Cameras in Court Facilities.

    Pursuant to Md. Rule 16-208, no person may use an electronic device to take screen captures, screenshots, photographs, videos, audio recordings or make other electronic recordings within the courthouse, and no person may transmit, publish, or otherwise disseminate any such electronic audio or video recording, except as provided in the court’s Media Protocol Order.

    The clerk of the court for the Circuit Court for Baltimore City is the official custodian of the case record. Any orders issued pertaining to the case can be found at the court’s Highlighted Cases web page.

    Public Wi-Fi is available at the courthouse. Media representatives may bring their own Wi-Fi connection devices.

    There is no designated media parking for the motion hearing. Media representatives must follow local parking ordinances and restrictions. Media representatives must not block pedestrian walkways or sidewalks and cannot restrict any public areas for media use.

    Please contact the Maryland Judiciary, Government Relations and Public Affairs, by email at [email protected] or 410-260-1488, if you plan to cover the hearing or have questions.

    ###

    MIL OSI USA News –

  • MIL-OSI: ConnectM Publishes 2024 Impact Scorecard

    Source: GlobeNewswire (MIL-OSI)

    ~Ends 2024 With Triple Digit Growth Across All Electrification Metrics~

    MARLBOROUGH, Mass., Feb. 10, 2025 (GLOBE NEWSWIRE) — ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today published its impact scorecard for the fourth quarter of 2024. Following the end of each quarter, ConnectM publishes its quarterly scorecard to provide the Company’s key electrification indicators which we use as internal operating performance measures. ConnectM determines its quarterly impact score metrics by aggregating data and behavioral analytics sourced from our Energy Intelligence Network and integrated artificial intelligence technology.

    Electrification Impact Scorecard for year-end 2024 (compared to year-end 2023)

    • 95.5 GWh of Electrification, an increase of 331% over last year and equivalent to 35,000 homes powered per day¹
    • 73,506 Metric Tons of Co2 Displaced, an increase of 391% over last year and equivalent to the amount of CO2 3.4 million trees can absorb in a year²
    • 6.7 Million Gallons of Fossil Fuel Displaced, an increase of 343% over last year and equivalent to driving around the world roughly 7,000 times³

    Bhaskar Panigrahi, Chairman and Chief Executive Officer of ConnectM, commented, “ConnectM’s 2024 impact scorecard reaffirms our unwavering commitment to accelerating the electrification economy. Our triple-digit growth across key metrics reflects the power of AI-driven insights and data intelligence in scaling cleaner, more efficient energy solutions. As we expand our technology’s reach, we remain focused on delivering measurable, sustainable impact for our customers, partners, and stakeholders.”

    About ConnectM Technology Solutions, Inc.
    ConnectM is a pioneer in the electrification economy, integrating energy assets with its AI-driven technology platform. Focused on delivering solutions that drive efficiency, affordability, and sustainability, ConnectM serves home, facility, and fleet across three major segments: Building Electrification, Distributed Energy, and Transportation and Logistics. The company’s vertically integrated approach combines technology, service/distribution networks, and strategic partnerships to accelerate the transition to an all-electric energy economy.

    For more information, please visit: www.connectm.com. Stockholders looking to receive Company updates directly to their inbox should sign up here.

    Contact:
    Investor Relations
    Dave Gentry, CEO
    RedChip Companies, Inc.
    1-407-644-4256
    CNTM@redchip.com

    ____________________
    ¹U.S. Energy Information Administration (EIA) – Assuming the average home uses about 30 kilowatt-hours per day.
    ²US Department of Agriculture
    ³Assumes 26 miles per gallon

    The MIL Network –

  • MIL-OSI: Prospect Capital Announces Financial Results for Fiscal December 2024 Quarter

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended December 31, 2024.

    FINANCIAL RESULTS

    All amounts in $000’s except per share amounts (on weighted average basis for period numbers) Quarter Ended Quarter Ended Quarter Ended
    December 31, 2024 September 30, 2024 December 31, 2023
           
    Net Investment Income (“NII”) $86,431 $89,877 $96,927
    NII per Common Share $0.20 $0.21 $0.24
    Interest as % of Total Investment Income 91.0% 94.0% 92.3%
           
    Net Income (Loss) Applicable to Common Shareholders $(30,993) $(165,069) $(51,436)
    Net Income (Loss) per Common Share $(0.07) $(0.38) $(0.13)
           
    Distributions to Common Shareholders $65,554 $77,358 $74,056
    Distributions per Common Share $0.15 $0.18 $0.18
    Cumulative Paid and Declared Distributions to Common Shareholders(1) $4,445,060 $4,384,924 $4,162,509
    Cumulative Paid and Declared Distributions per Common Share(1) $21.39 $21.25 $20.76
    Multiple of Net Asset Value (“NAV”) per Common Share(1) 2.7x 2.6x 2.3x
           
    Total Assets $7,234,855 $7,592,705 $7,781,214
    Total Liabilities $2,164,305 $2,469,590 $2,596,824
    Preferred Stock $1,630,514 $1,612,302 $1,500,741
    Net Asset Value (“NAV”) to Common Shareholders $3,440,036 $3,510,813 $3,683,649
    NAV per Common Share $7.84 $8.10 $8.92
           
    Balance Sheet Cash + Undrawn Revolving Credit Facility Commitments $1,879,738 $1,631,291 $1,187,740
           
    Net of Cash Debt to Total Assets 28.1% 29.7% 31.2%
    Net of Cash Debt to Equity Ratio(2) 39.8% 43.7% 46.2%
    Net of Cash Asset Coverage of Debt Ratio(2) 351% 329% 316%
           
    Unsecured Debt + Preferred Equity as % of Total Debt + Preferred Equity 91.9% 86.0% 78.4%
    Unsecured and Non-Recourse Debt as % of Total Debt 100.0% 100.0% 100.0%
    (1) Declared dividends are through the April 2025 distribution. February through April 2025 distributions are estimated based on shares outstanding as of 2/7/2025.
    (2)  Including our preferred stock as equity.
       

    CASH COMMON SHAREHOLDER DISTRIBUTION DECLARATION

    Prospect is declaring distributions to common shareholders as follows:

    Monthly Cash Common Shareholder Distribution Record Date Payment Date Amount ($ per share)
    February 2025 2/26/2025 3/20/2025 $0.0450
    March 2025 3/27/2025 4/17/2025 $0.0450
    April 2025 4/28/2025 5/20/2025 $0.0450

    Prospect expects to declare May 2025, June 2025, July 2025, and August 2025 distributions to common shareholders in May 2025.

    Taking into account past distributions and our current share count for declared distributions, since inception through our April 2025 declared distribution, Prospect will have distributed $21.39 per share to original common shareholders, representing 2.7 times December 2024 common NAV per share, aggregating $4.4 billion in cumulative distributions to all common shareholders.

    Since Prospect’s initial public offering in July 2004 through December 31, 2024, Prospect has invested over $21 billion across over 400 investments, exiting over 300 of these investments.

    Drivers focused on optimizing our business include: (1) rotation of assets into and increased focus on our core business of first lien senior secured middle market loans, including sometimes with selected equity investments, (2) continued amortization of our subordinated structured notes portfolio, (3) prudent exits of equity linked assets (including real estate properties and corporate investments), (4) enhancement of portfolio company operating performance, and (5) greater utilization of our cost efficient revolving floating rate credit facility.

    In our middle market lending strategy, we recently provided a first lien senior secured term loan, a first lien senior secured convertible term loan, and a preferred equity investment to Taos Footwear Holdings, LLC (“Taos Footwear”), aggregating $65 million, in collaboration with Taos Footwear’s founder and leadership team. Taos Footwear is a leading, innovative footwear brand providing customers with stylish and supportive footwear products. Taos Footwear is renowned for its supportive footbed that has reshaped the lifestyle footwear industry over the past 20 years.

    Examples of similar recent investments in our middle market lending strategy with both first lien senior secured debt and equity linked investments include Druid City Infusion, LLC (an infusion therapy services company with multiple locations across the South and Mountain West regions of the United States), Discovery Point Retreat, LLC (a rapidly growing detox and rehabilitation provider in North Texas), The RK Logistics Group, Inc. (a logistics service provider of turnkey inventory management and transportation services focused on technology and other sectors), and iQor Holdings, Inc. (a provider of customer experience services and business process outsourcing services).

    Our subordinated structured notes portfolio as of December 31, 2024 represented 5.8% of our investment portfolio, a reduction of 210 basis points from 7.9% as of December 31, 2023. Since the inception of this strategy in 2011 and through December 31, 2024, we have exited 15 subordinated structured note investments that have earned an unlevered investment level gross cash internal rate of return (“IRR”) of 12.1% and cash on cash multiple of 1.3 times. The remaining subordinated structured notes portfolio had a trailing twelve month average cash yield of 24.4% and an annualized GAAP yield of 3.9% (in each case as of December 31, 2024, based on fair value, and excluding investments being redeemed), with the difference between cash yield and GAAP yield representing amortization of our cost basis.

    In our real estate property portfolio at National Property REIT Corp. (“NPRC”), since the inception of this strategy in 2012 and through December 31, 2024, we have exited 51 property investments (including two exits in the December 2024 quarter) that have earned an unlevered investment-level gross cash IRR of 24.3% and cash on cash multiple of 2.5 times. The remaining real estate property portfolio included 59 properties and paid us an income yield of 6.9% for the quarter ended December 31, 2024. Our aggregate investments in the related portfolio company had a $522 million unrealized gain as of December 31, 2024.

    Our senior management team and employees own 28.7% of all common shares outstanding (an increase of 240 basis points since June 30, 2024) or approximately $1.0 billion of our common equity as measured at NAV.

    PORTFOLIO UPDATE AND INVESTMENT ACTIVITY

    All amounts in $000’s except per unit amounts As of As of As of
    December 31, 2024 September 30, 2024 December 31, 2023
           
    Total Investments (at fair value) $7,132,928 $7,476,641 $7,631,846
    Number of Portfolio Companies 114 117 126
    Number of Industries 33 33 36
           
    First Lien Debt 64.9% 64.9% 58.7%
    Second Lien Debt 10.2% 11.1% 15.5%
    Subordinated Structured Notes 5.8% 6.2% 7.9%
    Unsecured Debt 0.1% 0.1% 0.1%
    Equity Investments 19.0% 17.7% 17.8%
    Mix of Investments with Underlying Collateral Security 80.9% 82.2% 82.1%
           
    Annualized Current Yield – All Investments 9.1% 9.7% 10.1%
    Annualized Current Yield – Performing Interest Bearing Investments 11.2% 11.8% 12.3%
           
    Non-Accrual Loans as % of Total Assets (1) 0.4% 0.5% 0.2%
           
    Middle-Market Loan Portfolio Company Weighted Average EBITDA(2) $101,644 $104,682 $109,719
    Middle-Market Loan Portfolio Company Weighted Average Net Leverage Ratio(2) 6.1x 5.7x 5.4x
    (1) Calculated at fair value.
    (2) For additional disclosure see “Middle-Market Loan Portfolio Company Weighted Average EBITDA and Net Leverage” at the end of the release.
       

    During the March 2025 (to date), December 2024, and September 2024 quarters, investment originations (including follow on investments in existing portfolio companies) and repayments were as follows:

    All amounts in $000’s Quarter Ended Quarter Ended Quarter Ended
    March 31, 2025
    (to date)    		 December 31, 2024 September 30, 2024
           
    Total Originations $110,724 $134,956 $290,639
           
    Middle-Market Lending 86.4% 67.7% 85.8%
    Middle-Market Lending / Buyouts —% 14.5% 6.1%
    Real Estate 13.6% 17.8% 7.8%
    Subordinated Structured Notes —% —% —%
           
    Total Repayments and Sales $19,480 $383,363 $282,328
           
    Originations, Net of Repayments and Sales $91,244 $(248,407) $8,311
           

    For additional disclosure see “Primary Origination Strategies” at the end of this release.

    CAPITAL AND LIQUIDITY

    Our multi-year, long-term laddered and diversified historical funding profile has included a $2.1 billion revolving credit facility (aggregate commitments with 48 current lenders), program notes, institutional bonds, convertible bonds, listed preferred stock, and program preferred stock. We have retired multiple upcoming maturities and, after we retire our upcoming $156.2 million convertible bond maturity due March 2025 (utilizing existing liquidity on hand), will have just $3.9 million remaining of debt maturing during calendar year 2025.

    On June 28, 2024, we completed an extension and upsizing of our Revolving Credit Facility (the “Revolving Credit Facility”), which extended the term of the Facility five years and the revolving period to four years from such date. The Facility includes a revolving period that extends through June 28, 2028, followed by an additional one-year amortization period. The interest rate for amounts drawn under the Facility remained unchanged from prior to the extension and upsizing and is one-month SOFR plus 2.05%.

    Our total unfunded eligible commitments to portfolio companies totals approximately $62 million, of which $29 million are considered at our sole discretion, representing 0.9% and 0.4% of our total assets as of December 31, 2024, respectively.

      As of As of
    All amounts in $000’s December 31, 2024 September 30, 2024
    Net of Cash Debt to Total Assets Ratio 28.1% 29.7%
    Net of Cash Debt to Equity Ratio(1) 39.8% 43.7%
    % of Interest-Bearing Assets at Floating Rates 79.8% 81.0%
    Unsecured Debt + Preferred Equity as % of Total Debt + Preferred Equity 91.9% 86.0%
         
    Balance Sheet Cash + Undrawn Revolving Credit Facility Commitments $1,879,738 $1,631,291
         
    Unencumbered Assets $4,763,601 $4,852,971
    % of Total Assets 65.8% 63.9%
    (1) Including our preferred stock as equity.
       

    The below table summarizes our December 2024 quarter term debt issuance and repurchase/repayment activity:

    All amounts in $000’s Principal Coupon Maturity
    Debt Issuances      
    Prospect Capital InterNotes® $41,759 6.625% – 7.75% January 2027 – December 2034
    Total Debt Issuances $41,759    
           
    Debt Repurchases/Repayments      
    Prospect Capital InterNotes® $1,187 2.25% – 6.63% May 2026 – December 2051
    2026 Notes $11,443 3.706% January 2026
    Total Debt Repurchases/Repayments $12,630    
           
    Net Debt Repurchases/Repayments $29,129    

    We currently have four separate unsecured debt issuances aggregating approximately $1.1 billion outstanding, not including our program notes, with laddered maturities extending through October 2028. At December 31, 2024, $644 million of program notes were outstanding with laddered maturities through March 2052.

    At December 31, 2024 our weighted average cost of unsecured debt financing was 4.49%, an increase of 0.07% from September 30, 2024, and an increase of 0.34% from December 31, 2023.

    We have raised significant capital from our existing $2.25 billion perpetual preferred stock offering programs. The preferred stock provides Prospect with a diversified source of programmatic capital without creating scheduled maturity risk due to the perpetual term of multiple preferred tranches.

    DIVIDEND REINVESTMENT PLAN

    We have adopted a dividend reinvestment plan (also known as our “DRIP”) that provides for reinvestment of our distributions on behalf of our shareholders, unless a shareholder elects to receive cash. On April 17, 2020, our board of directors approved amendments to the Company’s DRIP, effective May 21, 2020. These amendments principally provide for the number of newly-issued shares pursuant to the DRIP to be determined by dividing (i) the total dollar amount of the distribution payable by (ii) 95% of the closing market price per share of our stock on the valuation date of the distribution (providing a 5% discount to the market price of our common stock), a benefit to shareholders who participate.

    HOW TO PARTICIPATE IN OUR DIVIDEND REINVESTMENT PLAN

    Shares held with a broker or financial institution

    Many shareholders have been automatically “opted out” of our DRIP by their brokers. Even if you have elected to automatically reinvest your PSEC stock with your broker, your broker may have “opted out” of our DRIP (which utilizes DTC’s dividend reinvestment service), and you may therefore not be receiving the 5% pricing discount. Shareholders interested in participating in our DRIP to receive the 5% discount should contact their brokers to make sure each such DRIP participation election has been made through DTC. In making such DRIP election, each shareholder should specify to one’s broker the desire to participate in the “Prospect Capital Corporation DRIP through DTC” that issues shares based on 95% of the market price (a 5% discount to the market price) and not the broker’s own “synthetic DRIP” plan (if any) that offers no such discount. Each shareholder should not assume one’s broker will automatically place such shareholder in our DRIP through DTC. Each shareholder will need to make this election proactively with one’s broker or risk not receiving the 5% discount. Each shareholder may also consult with a representative of such shareholder’s broker to request that the number of shares the shareholder wishes to enroll in our DRIP be re-registered by the broker in the shareholder’s own name as record owner in order to participate directly in our DRIP.

    Shares registered directly with our transfer agent

    If a shareholder holds shares registered in the shareholder’s own name with our transfer agent (less than 0.1% of our shareholders hold shares this way) and wants to make a change to how the shareholder receives dividends, please contact our plan administrator, Equiniti Trust Company, LLC by calling (888) 888-0313 or by mailing Equiniti Trust Company LLC, PO Box 10027, Newark, New Jersey 07101.

    EARNINGS CONFERENCE CALL

    Prospect will host an earnings call on Tuesday, February 11, 2025 at 9:00 a.m. Eastern Time. Dial 888-338-7333. For a replay after February 11, 2025 visit www.prospectstreet.com or call 877-344-7529 with passcode 2146236.

    PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
    (in thousands, except share and per share data)
     
      December 31, 2024   June 30, 2024
      (Unaudited)   (Audited)
    Assets      
    Investments at fair value:      
    Control investments (amortized cost of $3,323,998 and $3,280,415, respectively) $ 3,772,329   $ 3,872,575
    Affiliate investments (amortized cost of $11,735 and $11,594, respectively) 20,212   18,069
    Non-control/non-affiliate investments (amortized cost of $3,689,972 and $4,155,165, respectively) 3,340,387   3,827,599
    Total investments at fair value (amortized cost of $7,025,705 and $7,447,174, respectively) 7,132,928   7,718,243
    Cash and cash equivalents (restricted cash of $1,508 and $3,974, respectively) 59,760   85,872
    Receivables for:      
    Interest, net 18,428   26,936
    Other 1,914   1,091
    Deferred financing costs on Revolving Credit Facility 21,180   22,975
    Prepaid expenses 641   1,162
    Due from broker —   734
    Due from Affiliate 4   79
    Total Assets 7,234,855   7,857,092
    Liabilities      
    Revolving Credit Facility 301,522   794,796
    Public Notes (less unamortized discount and debt issuance costs of $10,075 and $12,433, respectively) 966,197   987,567
    Prospect Capital InterNotes® (less unamortized debt issuance costs of $9,299 and $7,999, respectively) 634,535   496,029
    Convertible Notes (less unamortized debt issuance costs of $166 and $649, respectively) 156,002   155,519
    Due to Prospect Capital Management 50,700   58,624
    Interest payable 23,214   21,294
    Dividends payable 20,076   25,804
    Due to Prospect Administration 5,070   5,433
    Accrued expenses 4,028   3,591
    Due to broker 2,762   10,272
    Other liabilities 199   242
    Total Liabilities 2,164,305   2,559,171
    Commitments and Contingencies      
    Preferred Stock, par value $0.001 per share (847,900,000 and 647,900,000 shares of preferred stock authorized, with 80,000,000 and 80,000,000 as Series A1, 80,000,000 and 80,000,000 as Series M1, 80,000,000 and 80,000,000 as Series M2, 20,000,000 and 20,000,000 as Series AA1, 20,000,000 and 20,000,000 as Series MM1, 1,000,000 and 1,000,000 as Series A2, 6,900,000 and 6,900,000 as Series A, 80,000,000 and 80,000,000 as Series A3, 80,000,000 and 80,000,000 as Series M3, 90,000,000 and 80,000,000 as Series A4, 90,000,000 and 80,000,000 as Series M4, 20,000,000 and 20,000,000 as Series AA2, 20,000,000 and 20,000,000 as Series MM2, 90,000,000 and 0 as Series A5, and 90,000,000 and 0 as Series M5, each as of December 31, 2024 and June 30, 2024; 27,968,443 and 28,932,457 Series A1 shares issued and outstanding, 1,309,907 and 1,788,851 Series M1 shares issued and outstanding, 0 and 0 Series M2 shares issued and outstanding, 0 and 0 Series AA1 shares issued and outstanding, 0 and 0 Series MM1 shares issued and outstanding, 163,000 and 164,000 Series A2 shares issued and outstanding, 5,251,157 and 5,251,157 Series A shares issued and outstanding, 24,476,826 and 24,810,648 Series A3 shares issued and outstanding, 2,732,317 and 3,351,101 Series M3 shares issued and outstanding, 2,192,884 and 1,401,747 Series M4 shares issued and outstanding, 7,012,458 and 3,766,166 Series A4 issued and outstanding, 0 and 0 Series AA2 shares issued and outstanding, 0 and 0 Series MM2 shares issued and outstanding, 0 and 0 Series A5 issued and outstanding, and 0 and 0 Series M5 issued and outstanding as of December 31, 2024 and June 30, 2024, respectively) at carrying value plus cumulative accrued and unpaid dividends 1,630,514   1,586,188
    Net Assets Applicable to Common Shares $ 3,440,036   $ 3,711,733
    Components of Net Assets Applicable to Common Shares and Net Assets, respectively      
    Common stock, par value $0.001 per share (1,152,100,000 and 1,352,100,000 common shares authorized; 438,851,578 and 424,846,963 issued and outstanding, respectively) 439   425
    Paid-in capital in excess of par 4,267,636   4,208,607
    Total distributable (loss) (828,039)   (497,299)
    Net Assets Applicable to Common Shares $ 3,440,036   $ 3,711,733
    Net Asset Value Per Common Share $ 7.84   $ 8.74
     
    PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share data)
    (Unaudited)
     
      Three Months Ended December 31, Six Months Ended December 31,
      2024   2023 2024   2023
    Investment Income            
    Interest income (excluding payment-in-kind (“PIK”) interest income):            
    Control investments $ 57,386   $ 41,690 $ 109,768   $ 90,816
    Non-control/non-affiliate investments 87,159   105,749 182,069   212,105
    Structured credit securities 4,054   8,882 8,233   25,569
    Total interest income (excluding PIK interest income) 148,599   156,321 300,070   328,490
    PIK interest income:            
    Control investments 13,884   26,834 33,594   50,951
    Non-control/non-affiliate investments 6,315   11,476 19,749   17,637
    Total PIK Interest Income 20,199   38,310 53,343   68,588
    Total interest income 168,798   194,631 353,413   397,078
    Dividend income:            
    Control investments 4,387   — 4,387   227
    Affiliate investments —   — 141   1,307
    Non-control/non-affiliate investments 2,574   1,340 4,843   2,865
    Total dividend income 6,961   1,340 9,371   4,399
    Other income:            
    Control investments 8,416   11,616 15,383   41,361
    Non-control/non-affiliate investments 1,291   3,355 3,607   4,349
    Total other income 9,707   14,971 18,990   45,710
    Total Investment Income 185,466   210,942 381,774   447,187
    Operating Expenses            
    Base management fee 37,069   39,087 75,675   78,376
    Income incentive fee 13,632   18,325 29,312   43,942
    Interest and credit facility expenses 37,979   40,044 77,739   80,637
    Allocation of overhead from Prospect Administration 5,708   12,252 11,416   14,365
    Audit, compliance and tax related fees 80   479 1,800   1,496
    Directors’ fees 150   131 300   266
    Other general and administrative expenses 4,417   3,697 9,224   5,566
    Total Operating Expenses 99,035   114,015 205,466   224,648
    Net Investment Income 86,431   96,927 176,308   222,539
    Net Realized and Net Change in Unrealized Gains (Losses) from Investments            
    Net realized gains (losses)            
    Control investments 3   — 6,370   (147)
    Non-control/non-affiliate investments (46,656)   123 (153,393)   (207,219)
    Net realized gains (losses) (46,653)   123 (147,023)   (207,366)
    Net change in unrealized gains (losses)            
    Control investments 30,419   (99,441) (143,829)   (117,235)
    Affiliate investments (1,446)   1,751 2,002   2,588
    Non-control/non-affiliate investments (69,053)   (27,051) (22,020)   188,535
    Net change in unrealized gains (losses) (40,080)   (124,741) (163,847)   73,888
    Net Realized and Net Change in Unrealized Gains (Losses) from Investments (86,733)   (124,618) (310,870)   (133,478)
    Net realized gains (losses) on extinguishment of debt 236   (53) 484   (144)
    Net Increase (Decrease) in Net Assets Resulting from Operations (66)   (27,744) (134,078)   88,917
    Preferred Stock dividends (26,228)   (24,070) (53,385)   (47,221)
    Net gain (loss) on redemptions of Preferred Stock (906)   378 1,398   879
    Gain (loss) on Accretion to Redemption Value of Preferred Stock (3,793)   — (9,997)   —
    Net Increase (Decrease) in Net Assets Resulting from Operations applicable to Common Stockholders $ (30,993)   $ (51,436) $ (196,062)   $ 42,575
     
    PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
    ROLLFORWARD OF NET ASSET VALUE PER COMMON SHARE
    (in actual dollars)
     
      Three Months Ended December 31,   Six Months Ended December 31,  
      2024   2023   2024   2023  
    Per Share Data                
    Net asset value per common share at beginning of period $         8.10   $         9.25   $         8.74   $         9.24  
    Net investment income(1) 0.20   0.24   0.41   0.54  
    Net realized and change in unrealized gains (losses)(1) (0.21)   (0.30)   (0.74)   (0.33)  
    Net increase (decrease) from operations (0.01)   (0.06)   (0.33)   0.21  
    Distributions of net investment income to preferred stockholders (0.06) (4) (0.07) (3) (0.12) (4) (0.12) (3)
    Distributions of capital gains to preferred stockholders — (4) — (3) — (4) — (3)
    Total distributions to preferred stockholders (0.06)   (0.07)   (0.12)   (0.12)  
    Net increase (decrease) from operations applicable to common stockholders (0.07)   (0.13)   (0.45)   0.10 (7)
    Distributions of net investment income to common stockholders (0.15) (4) (0.18) (3) (0.33) (4) (0.34) (3)
    Return of capital to common stockholders — (4) — (3) — (4) (0.02) (3)(6)
    Total distributions to common stockholders (0.15)   (0.18)   (0.33)   (0.36)  
    Common stock transactions(2) (0.04)   (0.02)   (0.13)   (0.06)  
    Net asset value per common share at end of period $         7.84   $         8.92   $         7.84 (7) $         8.92 (7)
    (1) Per share data amount is based on the basic weighted average number of common shares outstanding for the year/period presented (except for dividends to stockholders which is based on actual rate per share). Realized gains (losses) is inclusive of net realized losses (gains) on investments, realized losses (gains) from extinguishment of debt and realized gains (losses) from the repurchases and redemptions of preferred stock.
       
    (2) Common stock transactions include the effect of our issuance of common stock in public offerings (net of underwriting and offering costs), shares issued in connection with our common stock dividend reinvestment plan, common shares issued to acquire investments, common shares repurchased below net asset value pursuant to our Repurchase Program, and common shares issued pursuant to the Holder Optional Conversion of our 5.50% Preferred Stock and 6.50% Preferred Stock.
       
    (3) Tax character of distributions is not yet finalized for the respective fiscal period and will not be finalized until we file our tax return for our tax year ending August 31, 2024.
       
    (4) Tax character of distributions is not yet finalized for the respective fiscal period and will not be finalized until we file our tax return for our tax year ending August 31, 2025.
       
    (5) Diluted net decrease from operations applicable to common stockholders was $0.07 for the three months ended December 31, 2024. Diluted net decrease from operations applicable to common stockholders was $0.13 for the three months ended December 31, 2023. Diluted net decrease from operations applicable to common stockholders was $0.45 for the six months ended December 31, 2024. Diluted net increase from operations applicable to common stockholders was $0.10 for the six months ended December 31, 2023.
       
    (6) The amounts reflected for the respective fiscal periods were updated based on tax information received subsequent to our Form 10-K filing for the year ended June 30, 2023 and our Form 10-Q filing for December 31, 2023. Certain reclassifications have been made in the presentation of prior period amounts.
       
    (7) Does not foot due to rounding.
       

    MIDDLE-MARKET LOAN PORTFOLIO COMPANY WEIGHTED AVERAGE EBITDA, NET LEVERAGE AND INTERNAL RATE OF RETURN

    Middle-Market Loan Portfolio Company Weighted Average Net Leverage (“Middle-Market Portfolio Net Leverage”) and Middle-Market Loan Portfolio Company Weighted Average EBITDA (“Middle-Market Portfolio EBITDA”) provide clarity into the underlying capital structure of PSEC’s middle-market loan portfolio investments and the likelihood that such portfolio will make interest payments and repay principal.

    Middle-Market Portfolio Net Leverage reflects the net leverage of each of PSEC’s middle-market loan portfolio company debt investments, weighted based on the current fair market value of such debt investments. The net leverage for each middle-market loan portfolio company is calculated based on PSEC’s investment in the capital structure of such portfolio company, with a maximum limit of 10.0x adjusted EBITDA. This calculation excludes debt subordinate to PSEC’s position within the capital structure because PSEC’s exposure to interest payment and principal repayment risk is limited beyond that point. Additionally, subordinated structured notes, rated secured structured notes, real estate investments, investments for which EBITDA is not available, and equity investments, for which principal repayment is not fixed, are also not included in the calculation. The calculation does not exceed 10.0x adjusted EBITDA for any individual investment because 10.0x captures the highest level of risk to PSEC. Middle-Market Portfolio Net Leverage provides PSEC with some guidance as to PSEC’s exposure to the interest payment and principal repayment risk of PSEC’s middle-market loan portfolio. PSEC monitors its Middle-Market Portfolio Net Leverage on a quarterly basis.

    Middle-Market Portfolio EBITDA is used by PSEC to supplement Middle-Market Portfolio Net Leverage and generally indicates a portfolio company’s ability to make interest payments and repay principal. Middle-Market Portfolio EBITDA is calculated using the EBITDA of each of PSEC’s middle-market loan portfolio companies, weighted based on the current fair market value of the related investments. The calculation provides PSEC with insight into profitability and scale of the portfolio companies within PSEC’s middle-market loan portfolio.

    These calculations include addbacks that are typically negotiated and documented in the applicable investment documents, including but not limited to transaction costs, share-based compensation, management fees, foreign currency translation adjustments, and other nonrecurring transaction expenses.

    Together, Middle-Market Portfolio Net Leverage and Middle-Market Portfolio EBITDA assist PSEC in assessing the likelihood that PSEC will timely receive interest and principal payments. However, these calculations are not meant to substitute for an analysis of PSEC’s underlying portfolio company debt investments, but to supplement such analysis.

    Internal Rate of Return (“IRR”) is the discount rate that makes the net present value of all cash flows related to a particular investment equal to zero. IRR is gross of general expenses not related to specific investments as these expenses are not allocable to specific investments. Investments are considered to be exited when the original investment objective has been achieved through the receipt of cash and/or non-cash consideration upon the repayment of a debt investment or sale of an investment or through the determination that no further consideration was collectible and, thus, a loss may have been realized. Prospect’s gross IRR calculations are unaudited. Information regarding internal rates of return are historical results relating to Prospect’s past performance and are not necessarily indicative of future results, the achievement of which cannot be assured.

    PRIMARY ORIGINATION STRATEGIES

    Lending to Companies – We make directly-originated, agented loans to companies, including companies which are controlled by private equity sponsors and companies that are not controlled by private equity sponsors (such as companies that are controlled by the management team, the founder, a family or public shareholders). This debt can take the form of first lien, second lien, unitranche or unsecured loans. These loans typically have equity subordinate to our loan position. We may also purchase selected equity investments in such companies. In addition to directly-originated, agented loans, we also invest in senior and secured loans syndicated loans and high yield bonds that have been sold to a club or syndicate of buyers, both in the primary and secondary markets. These investments are often purchased with a long term, buy-and-hold outlook, and we often look to provide significant input to the transaction by providing anchoring orders.

    Lending to Companies and Purchasing Controlling Equity Positions in Such Companies – This strategy involves purchasing senior and secured yield-producing debt and controlling equity positions in operating companies across various industries. We believe this strategy provides enhanced certainty of closing to sellers and the opportunity for management to continue on in their current roles. These investments are often structured in tax-efficient partnerships, enhancing returns.

    Purchasing Controlling Equity Positions and Lending to Real Estate Companies – We purchase debt and controlling equity positions in tax-efficient real estate investment trusts (“REIT” or “REITs”). The real estate investments of National Property REIT Corp. (“NPRC”) are in various classes of developed and occupied real estate properties that generate current yields, including multi-family properties, student housing and senior living. NPRC seeks to identify properties that have historically significant occupancy rates and recurring cash flow generation. NPRC generally co-invests with established and experienced property management teams that manage such properties after acquisition. Additionally, NPRC makes investments in rated secured structured notes (primarily debt of structured credit). NPRC also purchases loans originated by certain consumer loan facilitators. It purchases each loan in its entirety (i.e., a “whole loan”). The borrowers are consumers, and the loans are typically serviced by the facilitators of the loans.

    Investing in Structured Credit – We make investments in structured credit, often taking a significant position in subordinated structured notes (equity). The underlying portfolio of each structured credit investment is diversified across approximately 100 to 200 broadly syndicated loans and does not have direct exposure to real estate, mortgages, or consumer-based credit assets. The structured credit portfolios in which we invest are managed by established collateral management teams with many years of experience in the industry.

    About Prospect Capital Corporation

    Prospect is a business development company lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

    Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

    For additional information, contact:

    Grier Eliasek, President and Chief Operating Officer
    grier@prospectcap.com
    Telephone (212) 448-0702

    The MIL Network –

  • MIL-OSI: Astera Labs Announces Financial Results for the Fourth Quarter of Fiscal Year 2024

    Source: GlobeNewswire (MIL-OSI)

    • Record quarterly revenue of $141.1 million, up 25% QoQ and up 179% YoY
    • Fiscal 2024 record revenue of $396.3 million, up 242% versus the prior year
    • Ramping across diverse set of customers and platforms with four product families in fiscal 2025

    SANTA CLARA, Calif., Feb. 10, 2025 (GLOBE NEWSWIRE) — Astera Labs, Inc. (Nasdaq: ALAB), a global leader in semiconductor-based connectivity solutions for cloud and AI infrastructure, today announced preliminary financial results for the fourth quarter and full fiscal year 2024, ended December 31, 2024.

    “Astera Labs delivered strong Q4 results, with revenue growing 25% versus the previous quarter, and capped off a stellar 2024 with 242% revenue growth year-over-year,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. “The revenue growth in 2024 was largely driven by Aries PCIe Retimer products, with Taurus Smart Cable Modules for Ethernet coming in strongly in Q4. We expect 2025 to be a breakout year as we enter a new phase of growth driven by revenue from all four of our product families to support a diverse set of customers and platforms. This includes our flagship Scorpio Fabric products for head-node PCIe connectivity and backend AI accelerator scale-up clustering.”

    Fourth Quarter of Fiscal 2024 Financial Highlights

    GAAP Financial Results:  

    • Revenue of $141.1 million, up 25% sequentially and up 179% year-over-year
    • GAAP gross margin of 74.0%
    • GAAP operating income of $0.1 million
    • GAAP operating margin of 0.1%
    • GAAP net income of $24.7 million
    • GAAP diluted net earnings per share of $0.14

    Non-GAAP Financial Results (excluding the impact of stock-based compensation expense and the income tax effects of non-GAAP adjustments):

    • Non-GAAP gross margin of 74.1%
    • Non-GAAP operating income of $48.4 million
    • Non-GAAP operating margin of 34.3%
    • Non-GAAP net income of $66.5 million
    • Non-GAAP diluted earnings per share of $0.37

    Full Year Fiscal 2024 Financial Highlights

    GAAP Financial Results:  

    • Revenue of $396.3 million, up 242% year-over-year
    • GAAP gross margin of 76.4%
    • GAAP operating loss of $116.1 million
    • GAAP operating margin of (29.3%)
    • GAAP net loss of $83.4 million
    • GAAP diluted net loss per share of $0.64

    Non-GAAP and Non-GAAP Financial Results (excluding the impact of stock-based compensation expense and the income tax effects of non-GAAP adjustments):

    • Non-GAAP gross margin of 76.6%
    • Non-GAAP operating income of $119.6 million
    • Non-GAAP operating margin of 30.2%
    • Non-GAAP net income of $143.3 million
    • Pro forma non-GAAP diluted earnings per share of $0.84

    Full Year Fiscal 2024 Business Highlights

    • Introduced new portfolio of Scorpio Smart Fabric Switches purpose-built for AI infrastructure at cloud-scale. The Scorpio Smart Fabric Switch family features two application-specific product lines with a multi-generational roadmap, including the P-Series for GPU-to-CPU/NIC/SSD PCIe Gen 6 connectivity and the X-Series for platform-specific, back-end AI accelerator clustering. Scorpio is currently shipping in pre-production quantities.
    • Joined the Ultra Accelerator Link Consortium as a promoting member on the Board of Directors. UALink technology will be used to enable efficient high-speed scale-up connectivity between AI accelerators within large and growing cluster sizes for AI workloads. Astera Labs is well positioned to quickly contribute to this new and compelling industry initiative to develop and advance UALink technology.
    • Demonstrated the industry’s first end-to-end PCIe optical connectivity link to provide extended reach for larger, disaggregated GPU clusters. PCIe over optics expands Astera Labs’ widely deployed and field-tested Aries family of Smart DSP retimers and Smart Cable Modules (SCMs) to deliver robust PCIe and CXL connectivity in chip-to-chip, box-to-box, and rack-to-rack topologies throughout the data center.
    • Expanded the widely deployed and field-tested Aries PCIe/CXL Smart DSP Retimer portfolio with the introduction and initial shipment of Aries 6 Retimers, the industry’s lowest power PCIe 6.x/CXL 3.x Retimer solution, to achieve higher bandwidth and extended reach across complex AI and compute topologies.
    • Shipped Aries PCIe/CXL Smart Cable Modules for Active Electrical Cable applications to enable multi-rack GPU clustering and low-latency memory fabric connectivity within AI infrastructure. The solution drives seven meters of reach over flexible copper cables to seamlessly and affordably interconnect clusters of GPUs across rack enclosures.
    • Showcased the first public demonstration of end-to-end interoperability between a PCIe 6.x Switch and a PCIe 6.x SSD at DesignCon 2025. The PCIe 6.x link-up was between an Astera Labs Scorpio P-Series Fabric Switch and Micron’s PCIe 6.x SSDs and showcased remarkable sequential read speeds exceeding 26GB/s.

    First Quarter of Fiscal 2025 Financial Outlook

    Based on current business trends and conditions, Astera Labs estimates the following:

    GAAP Financial Outlook:

    • Revenue within a range of $151 million to $155 million
    • GAAP gross margin of approximately 74%
    • GAAP operating expenses within a range of approximately $113 million to $114 million
    • GAAP tax expense of approximately $3 million
    • GAAP diluted earnings per share within a range of approximately $0.03 to $0.04 on weighted-average diluted shares outstanding of approximately 180 million

    Non-GAAP Financial Outlook (excluding the impact of approximately $47 million of stock-based compensation and including approximately $3 million of additional income taxes):

    • Non-GAAP gross margin of approximately 74%
    • Non-GAAP operating expenses within a range of approximately $66 million to $67 million
    • Non-GAAP tax rate of approximately 10%
    • Non-GAAP diluted earnings per share within a range of approximately $0.28 to $0.29 on non-GAAP weighted-average diluted shares outstanding of approximately 180 million

    Earnings Webcast and Conference Call
    Astera Labs will host a conference call to review its financial results for the fourth quarter and full year of fiscal 2024 and to discuss our financial outlook today at 1:30 p.m. Pacific Time. Interested parties may join the conference call by dialing 1-800-715-9871 and using conference ID 5908687. The call will also be webcast and can be accessed at the Astera Labs website at https://ir.asteralabs.com/. The webcast will be recorded and available for replay on the company’s website for the next six months.

    Discussion of Non-GAAP Financial Measures
    We use certain non-GAAP financial measures to supplement the performance measures in our consolidated financial statements, which are presented in accordance with GAAP. A reconciliation of these non-GAAP measures to the closest GAAP measure can be found later in this release. These non-GAAP financial measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP tax rate, non-GAAP net income (loss), non-GAAP diluted earnings (loss) per share, and non-GAAP weighted-average share count. We use these non-GAAP financial measures for financial and operational decision-making and as a means to assist us in evaluating period-to-period comparisons. By excluding certain items that may not be indicative of our recurring core operating results, we believe that, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP tax rate, non-GAAP net income (loss), non-GAAP pro forma diluted earnings (loss) per share, and non-GAAP pro forma weighted-average share count provide meaningful supplemental information regarding our performance. Accordingly, we believe these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by our institutional investors and the analyst community to help them analyze the health of our business. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures.

    No reconciliation is provided with respect to the forward-looking non-GAAP financial measures included in our non-GAAP financial outlook, as the GAAP measures are not accessible on a forward-looking basis. As a result, we cannot reliably predict all necessary components or their impact to reconcile such financial measures without unreasonable effort. The events necessitating a non-GAAP adjustment are inherently unpredictable and may have a significant impact on our future GAAP financial results.

    We adjust the following items from one or more of our non-GAAP financial measures:

    Stock-based compensation expense
    We exclude stock-based compensation expense, which is a non-cash expense, from certain of our non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information regarding operational performance. In particular, companies calculate non-cash stock-based compensation expense using a variety of valuation methodologies and subjective assumptions. Moreover, stock-based compensation expense is a non-cash charge that can vary significantly from period to period for reasons that are unrelated to our core operating performance, and therefore excluding this item provides investors and other users of our financial information with information that allows meaningful comparisons of our business performance across periods.

    Employer payroll taxes related to stock-based compensation resulting from our IPO
    We exclude employer payroll taxes related to the time-based vesting and net settlement of restricted stock units in connection with our initial public offering (the “IPO”), because this does not correlate to the operation of our business. We believe that excluding this item provides meaningful supplemental information regarding operational performance given the amount of employer payroll tax-related items on employee stock transactions was immaterial prior to our IPO.

    Income tax effect
    This represents the impact of the non-GAAP adjustments on an after-tax basis and one-off discrete tax adjustments that are unrelated to our core operating performance in connection with the presentation of non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share. This approach is designed to enhance investors’ ability to understand the impact of our non-GAAP tax expense on our current operations, provide improved modeling accuracy, and substantially reduce fluctuations caused by GAAP to non-GAAP adjustments.

    Non-GAAP pro forma weighted-average shares to compute non-GAAP pro forma net income (loss) per share
    We present non-GAAP pro forma weighted-average shares, assuming our redeemable convertible preferred stock is converted from the beginning of each respective periods presented, to provide meaningful supplemental information regarding EPS trend on a consistent basis. All of our outstanding redeemable preferred stock converted into the equivalent number of shares of common stock in connection with our IPO.

    Cautionary Note Regarding Forward-Looking Statements
    This press release contains forward-looking statements based on Astera Labs’ current expectations. The words “believe”, “estimate”, “expect”, “intend”, “may”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Astera Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Astera Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These forward-looking statements include but are not limited to, statements regarding our future operating results, financial position and guidance, including for the first quarter of fiscal 2025, our business strategy and plans, our objectives for future operations, our development or delivery of new or enhanced products and anticipated results of those products for our customers, our competitive positioning, including to meet the connectivity market opportunity in the future and initiative to advance UALink technology, technological capabilities and plans, our plans to add R&D talent and strategic IP blocks, and macroeconomic trends in cloud and AI infrastructure. A variety of risks and factors that are beyond our control could cause actual results to differ materially from those in the forward-looking statements including, without limitation: the competitive and cyclical nature of the semiconductor industry; the concentration of our customer base; the changes in demand for AI; the macroeconomic environment; risks that demand and the supply chain may be adversely affected, including by the imposition of tariffs by the United States and any corresponding retaliatory tariffs, changes in political policies, military conflict (such as between Russia/Ukraine and Israel/Hamas), terrorism, sanctions or other geopolitical events globally (including conflict between Taiwan and China); quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with managing international activities (including trade barriers, particularly with respect to China); absence of long-term commitments from customers; risks that Astera Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; stock price volatility; information technology risks, including cyber-attacks against Astera Labs’ products and its networks; and other risks and uncertainties that are detailed under the caption “Risk Factors” and elsewhere in our Annual Report on 10-K that will be filed with the Securities and Exchange Commission (the “SEC”) and in Quarterly Reports on Form 10-Q filed with the SEC and the other SEC filings and reports Astera Labs may make from time to time.  Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor(s) may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Accordingly, you should not rely on any of the forward-looking statements. Astera Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

    About Astera Labs
    Our PCIe, CXL and Ethernet semiconductor-based connectivity solutions are purpose-built to unleash the full potential of accelerated computing at cloud-scale. Inspired by trusted partnerships with hyperscalers and the data center ecosystem, we are an innovation leader of products that are customizable, interoperable, and reliable. Discover how we are transforming AI and modern data-driven applications at www.asteralabs.com.

     
    ASTERA LABS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
    (In thousands)
     
        December 31,
    2024    		   December 31,
    2023
    Assets        
    Current assets        
    Cash and cash equivalents   $ 79,551     $ 45,098  
    Marketable securities     834,750       104,215  
    Accounts receivable, net     38,811       8,335  
    Inventory     43,215       24,095  
    Prepaid expenses and other current assets     16,652       4,064  
    Total current assets     1,012,979       185,807  
    Property and equipment, net     35,651       4,712  
    Other assets     5,878       5,773  
    Total assets   $ 1,054,508     $ 196,292  
             
    Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)
    Current liabilities        
    Accounts payable   $ 26,918     $ 6,337  
    Accrued expenses and other current liabilities     59,624       28,742  
    Total current liabilities     86,542       35,079  
    Other liabilities     3,167       3,787  
    Total liabilities     89,709       38,866  
    Commitments and contingencies        
    Redeemable convertible preferred stock     –       255,127  
    Stockholders’ equity (deficit)        
    Common stock     16       4  
    Additional paid-in capital     1,173,153       27,411  
    Accumulated other comprehensive income     426       259  
    Accumulated deficit     (208,796 )     (125,375 )
    Total stockholders’ equity (deficit)     964,799       (97,701 )
    Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)   $ 1,054,508     $ 196,292  
     
    ASTERA LABS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
    (In thousands, except per share amounts)
     
        Three Months Ended   Years Ended
        December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Revenue   $ 141,096     $ 113,086     $ 50,514     $ 396,290     $ 115,794  
    Cost of revenue     36,648       25,209       11,489       93,591       35,967  
    Gross profit     104,448       87,877       39,025       302,699       79,827  
                         
    Operating expenses                    
    Research and development     56,524       50,659       19,654       200,830       73,407  
    Sales and marketing     22,818       23,248       4,995       123,652       19,992  
    General and administrative     24,962       22,866       5,356       94,283       15,925  
    Total operating expenses     104,304       96,773       30,005       418,765       109,324  
    Operating income (loss)     144       (8,896 )     9,020       (116,066 )     (29,497 )
    Interest income     10,558       10,912       1,674       34,288       6,549  
    Income (loss) before income taxes     10,702       2,016       10,694       (81,778 )     (22,948 )
    Income tax (benefit) provision     (14,011 )     9,609       (3,631 )     1,643       3,309  
    Net income (loss)   $ 24,713     $ (7,593 )   $ 14,325     $ (83,421 )   $ (26,257 )
                         
    Net income (loss) per share attributable to common stockholders:        
    Basic   $ 0.15     $ (0.05 )   $ —     $ (0.64 )   $ (0.71 )
    Diluted   $ 0.14     $ (0.05 )   $ —     $ (0.64 )   $ (0.71 )
    Weighted-average shares used in calculating net income (loss) per share attributable to common stockholders:                    
    Basic     159,895       156,831       38,627       131,262       37,131  
    Diluted     177,559       156,831       47,636       131,262       37,131  
     
    ASTERA LABS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
    (In thousands)
     
        Years Ended December 31,
          2024       2023  
    Cash flows from operating activities        
    Net loss   $ (83,421 )   $ (26,257 )
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities        
    Stock-based compensation     234,588       10,679  
    Depreciation     3,154       1,781  
    Non-cash operating lease expense     2,428       1,232  
    Warrants contra revenue     1,395       805  
    Inventory write-downs     168       10,343  
    Accretion of discounts on marketable securities     (8,341 )     (1,624 )
    Changes in operating assets and liabilities:        
    Accounts receivable, net     (30,480 )     2,386  
    Inventory     (19,287 )     (5,564 )
    Prepaid expenses and other assets     (13,031 )     (720 )
    Accounts payable     20,887       (4,264 )
    Accrued expenses and other liabilities     31,018       (167 )
    Operating lease liability     (2,402 )     (1,346 )
    Net cash provided by (used in) operating activities     136,676       (12,716 )
             
    Cash flows from investing activities        
    Purchases of property and equipment     (34,245 )     (2,761 )
    Purchases of marketable securities     (930,575 )     (126,225 )
    Sales and maturities of marketable securities     208,665       111,214  
    Other investing activities     (1,413 )     —  
    Net cash used in investing activities     (757,568 )     (17,772 )
             
    Cash flows from financing activities        
    Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions     672,198       —  
    Payment of deferred offering costs     (4,801 )     (1,407 )
    Proceeds from exercises of stock options     5,458       1,115  
    Proceeds from employee stock purchase plan     4,160       —  
    Tax withholding related to net share settlements of restricted stock units     (20,111 )     —  
    Repurchase of common stock upon termination     (1,066 )     (210 )
    Net cash provided by (used in) financing activities     655,838       (502 )
    Net increase (decrease) in cash, cash equivalents, and restricted cash     34,946       (30,990 )
    Cash, cash equivalents, and restricted cash        
    Beginning of the period     45,098       76,088  
    End of the period   $ 80,044     $ 45,098  
     
    ASTERA LABS, INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited)
    (In thousands, except percentages and per share amounts)
     
        Three Months Ended   Years Ended
        December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    GAAP gross profit   $ 104,448     $ 87,877     $ 39,025     $ 302,699     $ 79,827  
    Stock-based compensation expense upon IPO (1)     —       —       —       516       —  
    Stock-based compensation expense     131       102       8       329       24  
    Non-GAAP gross profit   $ 104,579     $ 87,979     $ 39,033     $ 303,544     $ 79,851  
                         
    GAAP gross margin     74.0 %     77.7 %     77.3 %     76.4 %     68.9 %
    Stock-based compensation expense upon IPO (1)     —       —       —       0.1       —  
    Stock-based compensation expense     0.1       0.1       —       0.1       0.1  
    Non-GAAP gross margin     74.1 %     77.8 %     77.3 %     76.6 %     69.0 %
                         
    GAAP operating income (loss)   $ 144     $ (8,896 )   $ 9,020     $ (116,066 )   $ (29,497 )
    Stock-based compensation expense upon IPO (1)     —       —       —       88,873       —  
    Stock-based compensation expense     48,218       45,535       3,299       145,715       10,679  
    Employer payroll tax related to stock-based compensation from IPO (2)     —       —       —       1,072       —  
    Non-GAAP operating income (loss)   $ 48,362     $ 36,639     $ 12,319     $ 119,594     $ (18,818 )
                         
    GAAP operating margin     0.1 %   (7.9)%     17.9 %   (29.3)%   (25.5)%
    Stock-based compensation expense upon IPO (1)     —       —       —       22.4       —  
    Stock-based compensation expense     34.2       40.3       6.5       36.8       9.2  
    Employer payroll tax related to stock-based compensation from IPO (2)     —       —       —       0.3       —  
    Non-GAAP operating margin     34.3 %     32.4 %     24.4 %     30.2 %   (16.3)%
                         
    GAAP net income (loss)   $ 24,713     $ (7,593 )   $ 14,325     $ (83,421 )   $ (26,257 )
    Stock-based compensation expense upon IPO (1)     —       —       —       88,873       —  
    Stock-based compensation expense     48,218       45,535       3,299       145,715       10,679  
    Employer payroll tax related to stock-based compensation from IPO (2)     —       —       —       1,072       —  
    Income tax effect (3)     (6,439 )     2,340       —       (8,910 )     —  
    Non-GAAP net income (loss)   $ 66,492     $ 40,282     $ 17,624     $ 143,329     $ (15,578 )
                         
    Net income (loss) per share attributable to common stockholders:        
    GAAP – basic   $ 0.15     $ (0.05 )   $ —     $ (0.64 )   $ (0.71 )
    GAAP – diluted   $ 0.14     $ (0.05 )   $ —     $ (0.64 )   $ (0.71 )
    Non-GAAP pro forma – diluted   $ 0.37     $ 0.23     $ 0.12     $ 0.84     $ (0.12 )
                         
    Weighted average shares used to compute net income (loss) per share attributable to common stockholders:        
    GAAP – basic     159,895       156,831       38,627       131,262       37,131  
    GAAP – diluted     177,559       156,831       47,636       131,262       37,131  
    Non-GAAP pro forma – diluted (4)     177,559       173,832       138,527       168,913       128,022  

    ____________________

    (1) Stock-based compensation expense recognized in connection with the time-based vesting and settlement of RSUs that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO.

    (2) Employer payroll taxes related to the time-based vesting and settlement of RSUs, that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO.

    (3) Income tax effect is calculated based on the tax laws in the jurisdictions in which we operate and is calculated to exclude the impact of stock-based compensation expense and one-off discrete tax adjustments that are unrelated to our core operating performance. For the three months ended December 31, 2024 and September 30, 2024, the non-GAAP tax benefit rate was 13% and tax expense rate of 15%, respectively. The adjustments for the three months ended December 31, 2023 were not material. For the years ended December 31, 2024, the non-GAAP tax expense rate was 7% compared to a tax benefit rate of 27% for the year ended December 31, 2023.

    (4) We present the non-GAAP pro forma weighted average shares to provide meaningful supplemental information of comparable shares for each periods presented. The non-GAAP pro forma weighted average shares is calculated as follows:

        Three Months Ended   Years Ended
        December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Shares used to compute GAAP net income (loss) per share attributable to common stockholders – diluted   177,559   156,831   47,636   131,262   37,131
    Weighted average effect of the assumed conversion of redeemable convertible preferred stock from the beginning of the periods   —   —   90,891   19,165   90,891
    Effect of dilutive equivalent shares   —   17,001   —   18,486   —
    Shares used to compute non-GAAP pro forma net income (loss) per share- diluted   177,559   173,832   138,527   168,913   128,022

      

     
    ASTERA LABS, INC.SUPPLEMENTAL FINANCIAL INFORMATIONSTOCK-BASED COMPENSATION EXPENSE (Unaudited)
    (In thousands)
     
      Three Months Ended   Years Ended
      December 31,
    2024    		   September 30,
    2024    		   December 31,
    2023    		   December 31,
    2024    		   December 31,
    2023
    Cost of revenue $ 131   $ 102   $ 8   $ 845   $ 24
    Research and development   18,808     14,641     2,303     76,427     7,360
    Sales and marketing   14,671     16,200     681     95,887     2,067
    General and administrative   14,608     14,592     307     61,429     1,228
    Total stock-based compensation expense (1) $ 48,218   $ 45,535   $ 3,299   $ 234,588   $ 10,679

    ____________________

    (1) Stock-based compensation expense recognized during the year ended December 31, 2024 included $88.9 million of cumulative stock-based compensation expense related to the time-based vesting and settlement of RSUs that had previously met the time-based vesting condition and for which the liquidity event vesting condition was satisfied in connection with our IPO.


    IR CONTACT:     Leslie Green
    leslie.green@asteralabs.com

    The MIL Network –

  • MIL-OSI: iBio Reports Fiscal Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Feb. 10, 2025 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), today reported financial results for the second quarter ended Dec. 31, 2024, and provided a corporate update on its progress.

    “In our second fiscal quarter we further strengthened our leadership with key Board appointments, reinforcing our commitment to innovation and execution as we work to develop next-generation therapeutics,” said CEO and Chief Scientific Officer Dr. Martin Brenner, Ph.D. “Following more recent developments, we also want to highlight the significant strides we have made in advancing our preclinical pipeline with the in-licensing of potentially best-in-class IBIO-600, the notable discovery of a novel Activin E antibody, and the launch of a bispecific antibody program targeting myostatin/activin A. We are excited by the momentum we have built through these results and remain focused on leveraging our AI-driven platform as we aim to transform the treatment landscape for patients with cardiometabolic diseases and obesity, offering hope for more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life.”

    Fiscal Second Quarter 2025 & Recent Corporate Updates:

    • Discovered a novel antibody targeting activin E in collaboration with AstralBio, leveraging iBio’s Machine-Learning Antibody Engine to overcome significant technical challenges, demonstrating the platform’s ability to engineer innovative therapeutics potentially for cardiometabolic disease and obesity.
    • Expanded iBio’s cardiometabolic and obesity program with IBIO-600, the long-acting anti-myostatin antibody in-licensed from AstralBio in January. IBIO-600 was discovered by AstralBio through the use of iBio’s Machine-Learning Antibody Engine and was designed for subcutaneous administration with the potential for an extended half-life.
    • Initiated a bispecific antibody program targeting myostatin/activin A to promote weight loss, muscle preservation, and prevent weight regain with plans for clinical investigation in obesity and cardiometabolic disorders in 2026. The program leverages iBio’s Machine-Learning Antibody Engine as well as the technology of IBIO-600.
    • In January we further extended our cash runway with the closing of a private placement offering with members of our Board of Directors and Officers, underscoring their confidence and support in our strategy to advance as a clinical-stage biotech.

    Fiscal Second Quarter 2025 Financial Results:

    • Revenue of $0.2 million was reported for services provided to a collaborative partner during the quarter ended Dec. 31, 2024.
    • R&D and G&A expenses for the second quarter of fiscal 2025 totaled approximately $4.6 million as compared to $4.5 million in the same period of fiscal year 2024, an increase of approximately 3%. This slight increase is a result of additional spending on consumables supplies and research related activities offset by lower G&A personnel related costs, consulting fees and outside services spending. Net loss from continuing operations for the second quarter ended Dec. 31, 2024, was approximately $4.4 million, or $0.48 per share, compared to a net loss of approximately $4.5 million, or $2.42 per share, in the same period of fiscal 2024.
    • Cash, cash equivalents and restricted cash as of Dec. 31, 2024, was approximately $7.2 million, inclusive of $0.2 million of restricted cash.

    About iBio, Inc.

    iBio (NYSEA: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine.  For more information, visit www.ibioinc.com or follow us on LinkedIn.

    Safe Harbor Statement

    Any statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements regarding the potential for IBIO-600 to be best-in-class; leveraging iBio’s AI-driven platform to transform the treatment landscape for patients with cardiometabolic diseases and obesity, offering hope for more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life; IBIO-600’s potential for an extended half-life; iBio’s clinical investigation in obesity and cardiometabolic disorders in 2026; advancing as a clinical-stage biotech; the creation of a pipeline of breakthrough antibody treatments to address significant unmet medical needs; and transforming drug discovery, accelerating development timelines, and unlocking new possibilities in precision medicine… Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including iBio’s ability to -leverage its AI-driven platform to transform the treatment landscape for patients with cardiometabolic diseases and obesity with more effective, targeted therapies addressing the underlying causes of these conditions while improving overall metabolic health and quality of life; extend the half-life of IBIO-600; advance as a clinical-stage biotech and commence a clinical investigation in obesity and cardiometabolic disorders in 2026; create a pipeline of breakthrough antibody treatments to address significant unmet medical needs; and transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine the ability to advance iBio’s internal pipeline priorities in immuno-oncology and cardiometabolics, and drive partnerships in new therapeutic areas, the ability to finance when needed and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended Juen 30, 2024, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, iBio, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

    Corporate Contact:

    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Media Contacts:

    Ignacio Guerrero-Ros, Ph.D., or David Schull
    Russo Partners, LLC
    Ignacio.guerrero-ros@russopartnersllc.com
    David.schull@russopartnersllc.com
    (858) 717-2310 or (646) 942-5604

    The MIL Network –

  • MIL-OSI United Nations: Noting Terrorist Groups’ Resilience, UN Counter-Terrorism Chief Tells Security Council Lasting Global Collaboration Key to Address Conditions Conducive to Lawlessness

    Source: United Nations General Assembly and Security Council

    Speakers Discuss Risk ISIL/Da’esh, Their Affiliates Pose in Syria, Afghanistan, Across Africa

    The resilience of terrorist groups underscores the need for sustained international collaboration and comprehensive, long-term responses that address the conditions conducive to terrorism, the Security Council heard today during a briefing on the threat posed by Islamic State in Iraq and the Levant (ISIL/Da’esh).

    Vladimir Voronkov, Under-Secretary-General of the United Nations Office of Counter-Terrorism, discussing the Secretary-General’s twentieth biannual strategic-level report on the topic, highlighted the volatile situation in Syria, and “the risk that stockpiles of advanced weapons could fall into the hands of terrorists”.  An estimated 42,500 individuals, some with alleged links to Da’esh, remain in detention camps in the north-east.  Member States must “facilitate the safe, voluntary and dignified repatriation of their nationals still stranded in those camps and facilities”, he said. 

    Providing details on the global terrorism landscape during the past six months, he said that, in Afghanistan, ISIL-Khorasan continued to pose a significant threat noting that its supporters plotted attacks in Europe and were actively seeking to recruit individuals from Central Asian States.  In West Africa and the Sahel, Da’esh affiliates and other terrorist groups intensified attacks, including against schools in Burkina Faso, Mali and Niger, while in Somalia, the organization successfully recruited foreign terrorist fighters. 

    Sub-Saharan Africa has become the epicenter of global terrorism, he said, noting that the United Nations has prioritized capacity-building support to the continent.  His office increased its delivery of technical assistance by 16 per cent, relying notably on the work of its Rabat Office.  Highlighting the Fusion Cells programme which delivered specialized training to 124 analysts from 21 African Member States, he stressed the need to further strengthen border security to counter movements of terrorists.  His office partnered with the Governments of Kuwait and Tajikistan to organize a conference on this.

    The Countering Terrorist Travel programme, he said, continued to expand with 63 beneficiary Member States who are increasingly relying on the goTRAVEL software to collect and process passenger data to detect and prevent terrorist movements.  Noting that the Pact for the Future renewed the international community’s commitment to a future free from terrorism, he urged Member States to translate these commitments into action, prioritizing inclusive, networked and sustainable responses.

    Approach Centered on Prevention, Respect for Human Rights Key to Countering Terrorist Threat

    Also briefing the Council was Natalia Gherman, Executive Director of Counter-Terrorism Committee Executive Directorate, who voiced concern over the humanitarian and security crisis in north-eastern Syria, with over 40,000 individuals confined in camps and detention facilities, under conditions marked by overcrowding, inadequate shelter and limited access to clean water and sanitation.  Beyond the Middle East, Da’esh remains agile, taking advantage of ongoing conflicts and regions experiencing growing instability, she continued.  The group now poses a threat to security and sustainable development across the African continent.

    Armed terrorist groups, such as Islamic State West Africa Province, are exploiting fragile conditions to recruit children, commit abductions and attack schools and hospitals.  In the Sahel and the Lake Chad Basin, Da’esh’s centralized operations continue to proliferate as regional cooperation declines, she said, adding that the role of the regional financial hubs used by the group and its affiliates has also expanded.

    “Addressing these threats requires an approach centered on prevention, grounded in respect for human rights, and with regional cooperation as the linchpin,” she stressed, noting the Committee’s visits to Côte d’Ivoire, Ghana, Malawi, Mauritania and the United Republic of Tanzania.  Assessments revealed gaps in border security and the need for stronger regional collaboration to counter the transnational nature of Da’esh’s activities.  For its part, the Executive Directorate has recently adopted the non-binding guiding principles on preventing, detecting and disrupting the use of new and emerging financial technologies for terrorist purposes — the so-called “Algeria Guiding Principles”, she said.

    Council Members Concerned Over Terrorists’ Adeptness at Expanding Operations, Attractomg New Recruits

    In the ensuing discussion, Council members expressed concern that, despite decades of counter-terrorism efforts, the phenomenon has transformed adeptly, taking advantage of new technology and financial innovations.  Sierra Leone’s delegate said that ISIL/Da’esh and their affiliates “continue to demonstrate resilience and adapt their modus operandi with extensive propaganda, as well as increased finances, fighters’ expertise and technology”.  14,000 fatalities were recorded on the African continent alone in 2024, he said, noting the impact on women and girls.  A security-centered approach alone is insufficient, he stressed.

    Along similar lines, Algeria’s delegate said that terrorist groups use the lack of development and marginalization to recruit and expand — therefore, security arrangements and development initiatives are equally necessary to combat this.  Highlighting the Sahel, he said that well-equipped armed groups are adopting advancing military strategies as well as using organized crime, narcotic trafficking, kidnapping and new technologies to finance such operations.

    France’s speaker noted that Da’esh, Al-Qaida and their affiliates are misappropriating new technology — such as drones — to carry out more targeted and lethal attacks. “These groups thrive on the soil where basic human rights are being violated, where women are marginalized,” she stated, adding that their use of sexual violence as a means of sowing terror has been documented.

    “Our work is far from complete,” said Somalia’s representative, spotlighting “patterns of expansion” across regions, with groups establishing networks that transcend national borders.  For its part, his Government has successfully conducted military operations with international partners to neutralize foreign Da’esh affiliates and implement joint security initiatives.

    The representative of the United States highlighted her Government’s “precision air strikes” against ISIS in Somalia on 1 February.  Her country “stands ready to find and eliminate terrorists who threaten the United States and our allies,” she said.  She also urged Council members to list more ISIL and Al-Qaida affiliates in the 1267 Sanctions Committee list so that they will be subject to its worldwide assets travel ban and arms embargo.  While the Sahel has become “the global epicenter for fatalities from terrorist attacks”, ISIS-Khorasan is increasing its capabilities to conduct attacks and recruit in Afghanistan and Pakistan, she said.

    Counter-terrorism Policies Must Oppose Double Standards and Selectivity 

    Pakistan’s delegate drew attention to the need to address white supremacy and far-right extremism, as well.  Counter-terrorism policies have so far singled out only one religion — Islam — but they must address the negative impact of stigmatizing Muslims and fanning the flames of Islamophobia, he said.  His country is at the forefront of counter-terrorism efforts, fighting not only Da’esh, but also TTP [Tehrik-e Taliban Pakistan] and Majid Brigade.  Further, “the international community has failed to address State terrorism, including the use of State power to suppress legitimate struggles for self-determination or to continue foreign occupation”, he said.

    It was the North Atlantic Treaty Organization’s (NATO) invasion into Libya and the invasion of Iraq which spawned ISIL, the Russian Federation’s delegate said.  Further, the United Nations’ counter-terrorism officials must “study the facts” on assistance to terrorists provided by Western countries, he said, adding that Ukraine, for instance, has become a logistic hub from which weapons disseminate across the world.  NATO troops who hastily left Afghanistan also abandoned vast quantities of weapons which fell into the hands of ISIL and affiliates, he said.

    The Council should oppose double standards and selectivity in counter-terrorism efforts, China’s representative, Council President for the month, speaking in his national capacity, underscored.  He also voiced concern over the Turkistan Islamic Party in Syria, and called on Damascus to fulfil its counter-terrorism obligations and prevent any terrorist forces from using the Syrian territory to threaten the security of other countries.

    Calls to Ensure Terrorist Groups Do Not Take Advantage of Instability in Syria 

    Several speakers, including the delegates of Denmark and Slovenia, stressed the need to ensure that terrorist groups do not take advantage of the instability in Syria.  Greece’s delegate underlined the need for a political road map in that country that includes constitutional reform, free and fair elections and inclusive governance. “This is the only way towards the eradication not only of Da’esh, but terrorism in general,” he added.  The United Kingdom’s delegate spotlighted the Global Coalition’s efforts to reduce the risk Da’esh poses as Syria embarks on its historical political transition.  However, “we cannot fight terrorism with force alone”, he emphasized, calling for a whole-of-society approach — with the meaningful participation of women — to address the long-term drivers of terrorism.

    Terrorists’ Increased Use of Information and Communications Technology Draws Concern

    Delegates also considered how to tackle terrorist groups’ increased use of information and communications technology (ICT), with Guyana’s representative noting that gaming and social media platforms bolster resources and recruitment.  The Analytical Support and Sanctions Monitoring Team has reported extensively on the increased risk of online radicalization and recruitment targeting youth and minors and the increasing use of cryptocurrencies by Da’esh, she said.

    Also noting Da’esh’s use of cryptocurrencies, Panama’s delegate said:  “Terrorism thrives on secrecy and underground flows of money.”  His country is the only Latin American nation to participate in the Global Coalition against Da’esh and is committed to preventing terrorists from using the Panamanian banking system for their financing.

    The Republic of Korea’s speaker stressed that the international community must respond by leveraging artificial-intelligence-driven analytics to improve threat detection, disrupt terrorist narratives and bolster information integrity.  Seoul’s new “AI and Preventing and Countering Violent Extremism” project, designed in collaboration with the United Nations Office of Counter-Terrorism, seeks to map out how terrorists exploit AI and build States’ capacity to counter these tactics by incorporating AI solutions, he said.

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Update: Overnight shift of SH1 southbound traffic

    Source: New Zealand Transport Agency

    |

    NZ Transport Agency Waka Kotahi advises the eastward shift of the two southbound lanes on State Highway 1 between the BP motorway service centre and Drury Interchange previously planned for tonight as part of the SH1 Papakura to Drury project has now been delayed.

    This shift is now expected to occur later this week on a date to be confirmed.

    When implemented, the temporary realignment will see the two southbound lanes shift to the east. The two northbound lanes between the Drury Interchange and the BP motorway service centre will then be shifted westward in the coming weeks. These lane realignments will provide additional workspace in the central median for motorway widening and stormwater improvements.

    There will be further lane shifts in both directions across the life of Stage 1B of this project, similar to traffic layouts during Stage 1A of this project.

    During motorway closures necessary as part of this project, traffic will be detoured along Great South Road.

    For more information on the project and to sign up to updates, please visit the project page:

    Papakura ki Pukekura – Papakura to Bombay

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    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: SH2 Hewletts Road rail crossing repairs – 24 hour road closure

    Source: New Zealand Transport Agency

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    Contractors will soon be carrying out essential repairs to the State Highway 2 (SH2) rail crossing near the Hewletts Road/Maunganui Road/Golf Road roundabout.

    Due to the nature of the repairs, and to enable them to be completed in shortest time possible with the least impact, there will be a 24-hour full road closure on the short section of SH2 Hewletts Road, between Newton Road roundabout and Golf Road roundabout, in both directions.  

    The closure is for 24 hours from 6am Saturday 15 February to 6am Sunday 16 February.  

    While the closure is in place traffic will detour via Newton Street, Hull Road and Maunganui Road. 

    As this work is weather dependent, these timeframes are approximate and subject to change.  

    While contractors aim to minimise disruption, people should expect some travel delays due to the nature and location of these works.

    There will be some noise and vibration associated with the works. 

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  • MIL-OSI USA: Shaheen, Hassan Help Reintroduce Bipartisan SHRED Act to Keep Ski Fees Local, Support New Hampshire Recreation Management

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) helped reintroduce the Ski Hill Resources for Economic Development (SHRED) Act, led by U.S. Senators Michael Bennet (D-CO) and John Barrasso (R-WY). The bipartisan bill would fuel investment in outdoor recreation in mountain communities by enabling National Forests like the White Mountain National Forest to retain a portion of the annual fees paid by ski areas operating within their boundaries. 

    “During the winter, New Hampshire’s stunning White Mountains and impressive ski slopes attract Granite State residents and tourists alike – making it a key pillar of our outdoor recreation economy,” said Shaheen. “This bipartisan bill will reinvest ski fees to improve ski areas and support overall recreation in the White Mountain National Forest. I’ll continue supporting commonsense investments in our recreation economy to benefit local communities and preserve our landscapes for generations to come.”    

    “New Hampshire’s ski resorts are cornerstones of our winter tourism industry and our state’s economy,” said Hassan. “The SHRED Act is a commonsense, bipartisan bill that will help strengthen our local communities by ensuring that ski fees are invested in maintaining and improving the places that make New Hampshire a premier destination for winter sports. This legislation will benefit both our local communities and the millions of visitors who come to experience the Granite State’s natural beauty.” 

    In exchange for using some of America’s most stunning forestlands, the 124 ski areas operating on Forest Service lands across the country pay fees to the Forest Service that average over $40 million annually. The SHRED Act would establish a framework for local National Forests to retain a portion of ski fees to offset increased recreational use and support local ski permit and program administration. The SHRED Act also provides the Forest Service with flexibility to direct resources where they are needed the most.  

    Specifically, the SHRED Act would invest in the Granite State by:  

    • Keeping Ski Fees Local: By establishing a Ski Area Fee Retention Account to retain the fees that ski areas pay to the Forest Service. For National Forests that generate ski fees, 80 percent of those fees are available for authorized uses at the local National Forest. The remaining 20 percent of those fees would be available to assist any National Forests with winter or broad recreation needs.   
    • Supporting Winter Recreation: In each forest, 75 percent of the retained funds are directly available to support the Forest Service Ski Area Program and permitting needs, process proposals for ski area improvement projects, provide information for visitors and prepare for wildfire. Any excess funds can be directed to other National Forests with winter or broad recreation needs. 
    • Addressing Broad Recreation Needs: In each forest, 25 percent of the retained funds are available to support a broad set of year-round local recreation management and community needs, including special use permit administration, visitor services, trailhead improvements, facility maintenance, search and rescue activities, avalanche information and education, habitat restoration at recreation sites and affordable workforce housing. This set-aside would dramatically increase some Forest Service unit’s budgets to meet the growing visitation and demand for outdoor recreation.  

    Shaheen and Hassan have long led efforts in Congress that support and invest in New Hampshire’s tourism and travel industries that fuel local economies across the state. Shaheen led her bipartisan Outdoor Recreation Jobs and Economic Impact Act into law to require the federal government to measure the impact of the outdoor recreation on the economy. In November 2024, Shaheen applauded the release of an annual report showing a $1.2 trillion economic contribution by the outdoor recreation sector in 2023, including adding $3.9 billion to New Hampshire’s economy. In New Hampshire, outdoor recreation accounts for 3.4% of gross domestic product (GDP) and employs 32,000 people, which is a 2.9% increase in jobs. 

    Shaheen and Hassan led efforts to help secure full funding and permanent authorization for the Land and Water Conservation Fund (LWCF), which has helped protect more than 2.5 million acres of land and supported tens of thousands of state and local outdoor recreation projects throughout the nation. In 2020, the Senators helped lead the Great American Outdoors Act into law to permanently fund the LWCF and provide mandatory funding for deferred maintenance on public lands.   

    MIL OSI USA News –

  • MIL-OSI USA: Stephanie Getty: Exploring the Universe with Curiosity and Wonder

    Source: NASA

    Name: Dr. Stephanie Getty
    Title: Director of the Solar System Exploration Division, Sciences and Exploration Directorate and Deputy Principal Investigator of the DAVINCI Mission
    Formal Job Classification: Planetary scientist
    Organization: Solar System Exploration Division, Sciences and Exploration Directorate (Code 690)

    What do you do and what is most interesting about your role here at Goddard? How do you help support Goddard’s mission?
    As the Director of the Solar System Exploration Division, I work from a place of management to support our division’s scientists. As the deputy principal investigator of the DAVINCI (Deep Atmosphere Venus Investigation of Noble gases, Chemistry, and Imaging) mission, I work with the principal investigator to lead the team in implementing this mission to study the atmosphere of Venus.
    I love that I get to work from a place of advocacy in support of my truly excellent, talented colleagues. I get to think strategically to make the most of opportunities and do my best to overcome difficulties for the best possible future for our teams. It’s also a fun challenge that no two days are ever the same!
    Why did you become a planetary scientist?
    In school, I had a lot of interests and space was always one of them. I also loved reading, writing, math, biology, and chemistry. Being a planetary scientist touches on all of these.
    My dad inspired me become a scientist because he loved his telescope and photography including of celestial bodies. We watched Carl Sagan’s “Cosmos” often.
    I grew up in southeastern Florida, near Fort Lauderdale. I have a B.S. and Ph.D. in physics from the University of Florida.  
    How did you come to Goddard?

    I had a post-doctoral fellowship in the physics department at the University of Maryland, and a local connection and a suggestion from my advisor led me to Goddard in 2004.
    What is most important to you as director of the Solar System Exploration Division, Sciences and Exploration Directorate?
    My goal is to provide a supportive environment for our incredibly talented science community in the Division to thrive, to push discovery forward and improve the understanding of our solar system. It’s a priority to encourage effective and open communication. I really try to value the whole person, recognizing that each of us is three-dimensional, with full personal lives. The people create the culture that allows our scientists to thrive and explore.
    What are your goals as deputy principal investigator of the DAVINCI mission?
    DAVINCI’s goal is to fill long-standing gaps about Venus, including whether it looked more like Earth in the past. Our energetic team brings together science, engineering, technology, project management, and business acumen to build a multi-element spacecraft that will explore Venus above the clouds, and during an hour-long descent through the atmosphere into the searingly hot and high pressure deep layers of the atmosphere near the surface. We hope to launch in June 2029.
    What is your proudest accomplishment at Goddard?
    I am pleased and proud to be deputy principal investigator on a major mission proposal that now gets to fly. It is an enormous privilege to be entrusted as part of the leadership team to bring the first probe mission back to Venus in over four decades.
    What makes Goddard’s culture effective?
    Goddard’s culture is at its best when we collectively appreciate how each member of the organization works towards solving our problems. The scientists appreciate the hard, detailed work that the engineers do to make designs. The engineers and project managers are energized by the fundamental science questions that underlie everything we do. And we have brilliant support staff that keeps our team organized and focused.

    What goes through your mind when you think about which fundamental science question to address and how?
    A lot of the research I have done, including my mission work, has been inspired by the question of how life originates, how life originated on Earth, and whether there are or have been other environments in the solar system that could have ever supported life. These questions are profound to any human being. My job allows me to work with incredibly talented teams to make scientific progress on these questions.
    It is really humbling.
    Who inspired you?
    My 10th grade English teacher encouraged us to connect with the natural world and to write down our experiences. Exploring the manifestations of nature connects with the way I approach my small piece of exploring the solar system. I really love the writing parts of my job, crafting the narrative around the science we do and why it is important.
    As a mentor, what is the most important lesson you give?
    A successful career should reflect both your passion and natural abilities. Know yourself. What feels rewarding to you is important. Learn how to be honest with yourself and let yourself be driven by curiosity.
    Our modern lives can be very noisy at work and at home. It can be hard to filter through what is and is not important. Leaving space to connect with the things that satisfy your curiosity can be one way to make the most of the interconnectivity and complexity of life.
    Curiosity not only connects us to the natural world, but also to each other. Curiosity is a defining characteristic of a good scientist, never losing a sense of wonder.
    I’m looking out my window as we talk. When I can, I try to make time to pause to reflect on how beautiful and special our own planet is.
    What are your hobbies?
    I love hiking with my kids. Walking through the woods puts me in the moment and clears my mind better than anything else. It gives my brain a chance to relax. Nature gives perspective, it reminds me that I am part of something bigger. Walking in the woods gives me a chance to pause, for example, to notice an interesting rock formation, or watch a spider spinning an impressive web, or spot a frog trying to camouflage itself in a pond, and doing this with my children is my favorite pastime. 
    Where is your favorite place in the world?
    Any campsite at dusk with a fire going and eating s’mores with my family.

    Conversations With Goddard is a collection of Q&A profiles highlighting the breadth and depth of NASA’s Goddard Space Flight Center’s talented and diverse workforce. The Conversations have been published twice a month on average since May 2011. Read past editions on Goddard’s “Our People” webpage.
    By Elizabeth M. JarrellNASA’s Goddard Space Flight Center, Greenbelt, Md.

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