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  • MIL-OSI USA: WATCH: Padilla Speaks on Senate Floor to Defend California’s Clean Air Act Waivers, Warns Republicans of Consequences of Overruling Parliamentarian

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    WATCH: Padilla Speaks on Senate Floor to Defend California’s Clean Air Act Waivers, Warns Republicans of Consequences of Overruling Parliamentarian

    WATCH: Padilla highlights environmental, public health, and economic importance of California’s waiversWASHINGTON, D.C. — Today, U.S. Senators Alex Padilla (D-Calif.), Ranking Member of the Senate Committee on Rules and Administration, Adam Schiff (D-Calif.), and Sheldon Whitehouse (D-R.I.), Ranking Member of the Senate Committee on Environment and Public Works (EPW), took to the Senate floor to sound the alarm on Senate Republicans’ consideration of a dangerous plan to overrule the Senate Parliamentarian’s decision regarding California’s clean air waivers that allow the state to implement more protective air quality standards.
    The House of Representatives last week erroneously voted to revoke three of California’s Clean Air Act waivers for the state’s clean cars and trucks programs, despite the Government Accountability Office’s (GAO) determination that California’s Clean Air Act waivers are not rules under the Congressional Review Act (CRA), and the Senate Parliamentarian’s decision that any CRA resolutions on this subject would therefore require 60 votes to secure Senate passage. Senator Padilla emphasized the harmful environmental, public health, and economic consequences of attempting to revoke California’s waivers, as well as the dangerous precedent this “nuclear option” would set in undermining longstanding Senate procedures that could be applied to legislation far beyond the CRA.
    Padilla outlined California’s leadership in driving climate progress that has not only improved air quality, but has helped make California the world’s fourth largest economy through investments in innovative clean technologies.
    “When Donald Trump returned to the White House a few months ago, there was a whole lot of people throughout California and beyond that knew that California had a target on its back. For more than half a century, we’ve been trailblazers in a number of policy areas, but especially in the fight for environmental protections and public health protections. And for the last decade, we’ve been proud to … stand up to each and every one of Donald Trump’s attacks on our clean air and clean water, not just through his rhetoric, but through his actions. So while the particular procedural battle that we find ourselves in today over the Clean Air Act waivers may be new, the larger war on California’s climate leadership and progress is not new.”
    “One of the most outlandish things I’ve heard from my Republican colleagues these past few weeks as it pertains to these Clean Air Act waivers is that they’re concerned that these waivers and other regulations would stifle the California economy. That ‘the market is not ready.’ Or, I’ve heard some say that they’re concerned that this could raise prices on consumers. Really? These are the same Republican members who have stayed silent while Donald Trump’s imposed universal tariffs that are actually already increasing prices. So now you’re worried about increased costs for American families? Where have you been these last several weeks? But I have some good news for you: in case you haven’t heard, California’s proven this argument wrong already. … As of a couple weeks ago, California is now the fourth largest economy in the world.”
    “California didn’t get there by just holding on to technologies of the past. We did so by innovation and investment in clean technologies. So we are proving that you can be for clean air and for business and economic growth.”
    Padilla emphasized that Republicans are looking for a “backdoor” to bypass a filibuster since they do not have the votes needed to amend the Clean Air Act, instead trying to use the CRA to kill California’s Clean Air Act authority with a lower, 51-vote threshold. This would require Republicans to overrule the Senate Parliamentarian and GAO, which they have never done on a CRA question. Padilla highlighted that Senate Republicans, including EPW Chair Senator Mike Lee (R-Utah), have even published a fact sheet that says: “California’s power to influence national emissions standards … is not subject to Congressional review.”
    “In plain English, they’re trying to change the rules of the Senate in order to please Donald Trump and the Big Oil lobby.”
    “It’s clear to me that this is about more than just California’s climate policies and leadership. This would set a major new precedent that blows way past the bounds of the Congressional Review Act. It’s not an insignificant change to the rules. It is not an insignificant precedent that you would be setting.”
    “If successful, it would open the door to ignoring the Parliamentarian on any ruling that you don’t like. And if Republicans can ignore the Parliamentarian on a CRA, then why not the tax bill that they’re working so hard on? Or health care? Or anything else?”
    He concluded his speech by presenting Senate Republicans’ previous statements saying they would not ignore the parliamentarian. Majority Leader John Thune (R-S.D.) said that ignoring the Senate Parliamentarian would be “totally akin to killing the filibuster. We can’t go there.” Senator John Curtis (R-Utah) said “a red line for [him] is overruling the Parliamentarian,” and Senator Susan Collins (R-Maine) promised she would “never vote to overturn the Parliamentarian.” Padilla warned his Republican colleagues not to cross this critical red line.
    “I will call our attention to the fact that the red line is here now. And each member of this body has a decision to make. The Parliamentarian has ruled that this effort cannot be done on a 51-vote threshold.”
    “If you choose to go forward and overrule the Parliamentarian, just know: there’s no going back. All bets are off.”
    Senator Padilla has been outspoken in pushing back against Republican attacks on California’s Clean Air Act waivers. Earlier this week, Padilla, Whitehouse, and U.S. Senate Democratic Leader Chuck Schumer (D-N.Y.) led Democratic Ranking Members in strongly warning Majority Leader Thune and Majority Whip John Barrasso (R-Wyo.) of the dangerous and irreparable consequences if Senate Republicans overrule the Senate Parliamentarian’s decision on California’s waivers.
    Last month, Senators Padilla, Whitehouse, and Schiff welcomed the Senate Parliamentarian’s decision that the waivers are not subject to the CRA. Padilla also joined Whitehouse and Schiff in blasting Trump and EPA Administrator Lee Zeldin’s weaponization of the EPA after GAO’s similar finding. Padilla and Schiff previously slammed the Trump Administration’s intent to roll back dozens of the EPA’s regulations that protect California’s air and water.
    Video of Senator Padilla’s remarks is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Cortez Masto, Collins Reintroduce Bipartisan Legislation to Protect and Enhance Ground Ambulance Services

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.), Susan Collins (R-Maine), Bill Cassidy (R-La.), and Peter Welch (D-Vt.) introduced the bipartisan Protecting Access to Ground Ambulance Medical Services Act, which would ensure that all communities, particularly those in rural and underserved areas, have access to vital emergency and non-emergency ground ambulance services.
    In 2022, Cortez Masto passed a law to make sure ambulance providers are adequately reimbursed for providing critical services. Specifically, the legislation provided Medicare add-on payments for ground ambulance services until 2025. Since then, Congress, on a bipartisan basis, has passed additional extensions, maintaining the enhanced reimbursement rate for ground ambulance services through September 30, 2025. This bipartisan bill builds on those efforts by extending and increasing Medicare add-on payments for ambulance services in all communities. This legislation will continue to close the gap between Medicare reimbursement and the cost of providing services, helping ambulance service providers hire and retain EMT staff, update their equipment, and continue providing lifesaving medical care across the country, especially in the underserved areas where EMT services can be expensive and hard to access.
    “During a medical emergency, all Nevadans should be able to count on lifesaving ambulance services,” said Senator Cortez Masto. “This bipartisan legislation provides essential resources to rural and underserved communities to ensure that no one is left without help in a life-or-death situation.”
    “Whether an automobile accident, a fire, a health crisis, or another catastrophe, paramedics are there in those first critical minutes when courage, skill, and compassion are most needed,” said Senator Collins. “Our bipartisan bill would support these first responders, especially those in rural and underserved communities, by ensuring they are adequately reimbursed by Medicare for their services. As a Senator representing one of the most rural states in the country, I will continue to support the brave men and women who work around the clock to protect our communities.”
    The legislation is endorsed by the American Ambulance Association, the International Association of Fire Fighters, the International Association of Fire Chiefs, the National Association of Emergency Medical Technicians, and the National Rural Health Association.
    “The American Ambulance Association appreciates the support for ground ambulance services that Senators Coretz Masto, Collins, Cassidy, and Welch continue to provide by reintroducing the Protecting Access to Ground Ambulance Medical Services Act of 2025,” said Jamie Pafford Gresham, President of the American Ambulance Association. “If enacted, the legislation would prevent a gap in much-needed funding for local ground ambulance services to maintain the adjustments for providers that service rural, urban, and super-rural communities that are set to expire on October 1. Moreover, the legislation provides some relief for the substantial cost increases in labor, vehicle, equipment, and drugs and devices these local services are encountering and that current policy does not address.”
    The full text of the bill can be accessed here.
    Senator Cortez Masto has consistently fought to ensure that Nevadans can access quality, affordable health care. She’s passed a law to make sure ambulance providers are adequately reimbursed for providing critical services, fought to protect the Medicare Advantage program for millions of seniors and Americans with disabilities, and introduced legislation to keep labor and delivery units open in rural and underserved hospitals. She has also championed the Inflation Reduction Act, which gives Medicare the power to negotiate drug prices, caps drug costs and limits egregious price hikes by drug manufacturers. She has repeatedly pressed the Trump administration for transparency about its cuts to the Department of Health and Human Services.

    MIL OSI USA News –

  • MIL-OSI Security: Tucson Residents Charged with Possession of a Firearm in Furtherance of a Crime of Violence

    Source: Office of United States Attorneys

    TUCSON, Ariz. – Hassan Omar Kassim, 19, and Alexandra Brooke Wisdom, 19, of Tucson, were arrested on May 6, 2025, and charged by criminal complaint for Possession of a Firearm in Furtherance of a Crime of Violence, Aid and Abet, and Conspiracy to commit the same offense.

    On April 20, 2025, a Tucson Police Department officer assigned to the Operations Division West (“ODW”) Community Response Team (“CRT”) was conducting operations in the area of Stone Avenue and Fort Lowell in Tucson, Arizona. The officer was dressed in plain clothes and driving an unmarked City of Tucson vehicle when he observed a dark colored car traveling southbound at a high rate of speed. The officer followed the vehicle and broadcast its license plate number to other members of ODW CRT. The vehicle then turned, and an individual leaned out of the rear passenger window of the car and fired a gun at the officer’s unmarked vehicle. The occupants of the car continued to engage the officer, including making a U-turn during which additional shots were fired by the rear passenger. The officer was unharmed. A marked patrol vehicle responded to the area and attempted to stop the car, but the occupants failed to yield and after a short pursuit, officers lost sight of the car. Through a subsequent investigation, detectives and special agents identified Kassim as one of the occupants of the car during the shooting. They also determined that Wisdom was in the car before and after the shooting, and that Wisdom drove and abandoned the vehicle sometime after fleeing from police.

    The National Public Safety Partnership (PSP) was established by the U.S. Department of Justice to provide an innovative framework to enhance federal support of state, local, and tribal law enforcement and prosecution authorities in enhancing public safety. PSP began as a pilot program, the Violence Reduction Network, in 2014 and is designed to promote interagency coordination by leveraging specialized law enforcement expertise with dedicated prosecutorial resources to promote public and community safety. PSP serves as a DOJ-wide program that enables participating sites to consult with and receive expedited, coordinated training and technical assistance, and an array of resources from DOJ to enhance local public safety strategies. This model enables DOJ to provide jurisdictions of different sizes and diverse needs with data-driven, evidence-based strategies tailored to the unique local needs of participating cities to build their capacities to address violent crime challenges. PSP has engaged with more than 60 sites since the program’s inception.

    A criminal complaint is simply a method by which a person is charged with criminal activity and raises no inference of guilt. An individual is presumed innocent until evidence is presented to a jury that establishes guilt beyond a reasonable doubt.

    The Tucson Police Department and the Federal Bureau of Investigation conducted the investigation in this case. Assistant U.S. Attorney Adam D. Rossi, District of Arizona, Tucson, is handling the prosecution.

    CASE NUMBER:            25-MJ-05951
    RELEASE NUMBER:    2025-074_Kassim, et al.

    # # #

    For more information on the U.S. Attorney’s Office, District of Arizona, visit http://www.justice.gov/usao/az/

    Follow the U.S. Attorney’s Office, District of Arizona, on Twitter @USAO_AZ for the latest news.

    MIL Security OSI –

  • MIL-OSI New Zealand: Serious crash, Favona

    Source: New Zealand Police

    Emergency services are in attendance at a serious crash between a truck and car in Favona this morning.

    The crash, at the intersection of Harania Avenue and Favona Road, was reported to Police at about 10.20am.

    Early indications suggest one person has been seriously injured.

    Diversions are in place and motorists are being advised to expect delays.

    The Serious Crash Unit has been notified.

    ENDS.

    Holly McKay/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI Security: Security News: Two Honduran Men Sentenced to Prison for their Roles in International Human Smuggling Conspiracy

    Source: United States Department of Justice 2

    Note: See superseding indictment here.

    Two Honduran men were sentenced today to three years in prison for their roles in a scheme to illegally smuggle Honduran nationals into the United States.

    According to court documents and evidence presented at trial, for almost a year, Hennessy Devon Cooper Zelaya, 29, and Rudy Jackson Hernandez, 38, both of Utila, Honduras, conspired with at least six others to bring Honduran nationals from Honduras to the United States via two vessels, the Masita III and the M/V Pop. The vessels sailed from Utila, Honduras to Louisiana. The aliens and/or their family members paid thousands of dollars to be brought illegally into the United States by boat. Upon arrival, the aliens were picked up by co-conspirators and driven further into the United States. The co-conspirators then placed some of the aliens in jobs at U.S. factories and other businesses knowing that the aliens lacked authorization to enter, remain, or work in the United States. The defendants were part of the vessels’ crew on multiple voyages.

    In February 2022, the defendants attempted to illegally bring 23 Honduran nationals from Utila, Honduras, to Cocodrie, Louisiana, aboard the M/V Pop, a 65’ sportfishing vessel. During the voyage, the M/V Pop developed engine trouble and lost power. The co-conspirators then chartered a boat to bring fuel to the disabled vessel so that it could complete its journey to the United States. Before the chartered boat reached the disabled vessel, the U.S. Coast Guard interdicted the vessel approximately 75 miles off the coast of Louisiana and towed it to shore. Inside the vessel, law enforcement officers also found 24 kilograms of cocaine.

    Cooper Zelaya and Jackson Hernandez were convicted after trial of conspiracy to unlawfully bring aliens to the United States for commercial advantage and private financial gain and attempting to bring aliens to the United States for commercial advantage and private financial gain.

    The lead defendant in the case, Carl Allison, previously pleaded guilty in December 2023 to conspiracy to unlawfully bring aliens to the United States for financial gain and conspiracy to distribute five kilograms or more of cocaine hydrochloride. Three additional co-conspirators, all Honduran nationals, pleaded guilty last year for their roles in the scheme: Darrel Martinez, 41, and Josue Flores-Villeda, 36, pleaded guilty to the same charges as Allison; and Lenord Cooper, 40, pleaded guilty to conspiracy to aid and assist aliens to enter the United States unlawfully and attempting to bring aliens to the United States for commercial advantage and private financial gain. A fifth man, Honduran national Olvin Javier Velasquez Maldonado, was extradited from Honduras in April and is charged with one count of conspiracy to possess with intent to distribute five kilograms or more of cocaine. Maldonado’s trial is scheduled for June 16. An indictment is merely an allegation, and Maldonado is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, Acting U.S. Attorney Michael M. Simpson for the Eastern District of Louisiana, and Special Agent in Charge Eric DeLaune of U.S. Immigration and Customs Enforcement Homeland Security Investigations (HSI) New Orleans Field Office made the announcement.

    The HSI Houma, Louisiana Field Office investigated the case, with assistance from the HSI Pittsburgh Field Office, HSI Atlanta Field Office, and Louisiana Bureau of Investigation. The HSI Human Smuggling Unit in Washington, D.C., U.S. Customs and Border Protection’s National Targeting Center International Interdiction Task Force, U.S. Coast Guard Investigative Service, U.S. Customs and Border Protection’s Air and Marine Operations, Louisiana State Police, Pennsylvania State Police, North Huntington Township Police, and Terrebonne Parish Sheriff’s Office also provided valuable assistance.

    Deputy Chief Rami Badawy of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorney Carter Guice for the Eastern District of Louisiana prosecuted the case. The Justice Department’s Office of International Affairs (OIA) and the Criminal Division’s Office of Overseas Prosecutorial Development, Assistance and Training (OPDAT) in Honduras provided assistance.

    The sentencings are the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA, a partnership with the Department of Homeland Security (DHS), has been elevated and expanded by the Attorney General with a mandate to target cartels and other transnational criminal organizations to eliminate human smuggling and trafficking networks operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia that impact public safety and the security of our borders. JTFA currently comprises detailees from U.S. Attorneys’ Offices along the border. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Money Laundering and Asset Recovery Section, the Office of Enforcement Operations, OIA, and OPDAT, among others. JTFA also relies on substantial law enforcement investment from DHS, the FBI, the Drug Enforcement Administration, and other partners. To date, JTFA’s work has resulted in more than 365 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 334 U.S. convictions; more than 281 significant jail sentences imposed; and substantial seizures and forfeitures of assets and contraband including millions of dollars in cash, real property, vehicles, firearms and ammunition, and drugs.

    This case is also supported by the Organized Crime and Drug Enforcement Task Forces (OCDETF) and the Extraterritorial Criminal Travel Strike Force (ECT) program. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. The ECT program is a partnership between the Justice Department’s Criminal Division and HSI and 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 also coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

    MIL Security OSI –

  • MIL-OSI Security: Security News: Former Corrections Officer Sentenced to Prison For Federal Civil Rights Crime in Connection with Death of Inmate at West Virginia Jail

    Source: United States Department of Justice 2

    A former corrections officer from the Southern Regional Jail in Beaver, West Virginia, was sentenced today for his role in an assault that resulted in the death of an inmate, identified by the initials Q.B., on March 1, 2022. Steven Nicholas Wimmer, 25, of Bluefield, was sentenced to nine years in prison, to be followed by three years of supervised release.

    With his guilty plea, Wimmer acknowledged that he responded to a call for officer assistance after Q.B. tried to push past another correctional officer. The officers restrained and handcuffed Q.B. Officers, including Wimmer, then escorted Q.B. to an interview room, where officers struck and injured Q.B. while he was restrained, handcuffed and posed no threat to anyone. Wimmer admitted that officers struck Q.B. in the interview room in order to punish him for attempting to leave his assigned pod. Wimmer further admitted that he was a member of the conspiracy who injured Q.B. inside the interview room while Q.B. was restrained, handcuffed, and posed no threat.

    Wimmer and former Southern Regional Jail corrections officer Andrew Fleshman pleaded guilty on Nov. 2, 2023, to conspiring with other officers to use unreasonable force against Q.B. Fleshman, 22, of Shady Spring, is scheduled to be sentenced on July 14. On Nov. 29, 2023, a federal grand jury indicted six other defendants in connection with the death of Q.B. In November 2024, former correctional officers Mark Holdren, Corey Snyder, and Johnathan Walters each pleaded guilty in connection with the use of unreasonable force against Q.B., resulting in his death. Sentencing hearings for Holdren, Snyder, and Walters are scheduled for June 16. On Aug. 8, 2024, Ashley Toney and Jacob Boothe each pleaded guilty to violating Q.B.’s civil rights by failing to intervene when other officers used unreasonable force. Sentencing hearings for Boothe and Toney are scheduled for June 9.

    On January 27, a federal jury convicted defendant Chad Lester, a former Lieutenant at the Southern Regional Jail, on three obstruction of justice charges for his role in conspiring to cover up the death of Q.B. Lester is scheduled to be sentenced on May 15.

    Assistant Attorney General Harmeet Dhillon of the Justice Department’s Civil Rights Division and Acting U.S. Attorney Lisa G. Johnston for the Southern District of West Virginia made the announcement.

    The Federal Bureau of Investigation (FBI) Pittsburgh Field Office investigated the case.

    Chief United States District Judge Frank W. Volk imposed the sentence. Deputy Chief Christine M. Siscaretti and Trial Attorney Tenette Smith of the Justice Department’s Civil Rights Division prosecuted the case in partnership with the U.S. Attorney’s Office for the Southern District of West Virginia.

    A copy of this press release is located on the website of the U.S Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 5:23-cr-134.

    MIL Security OSI –

  • MIL-OSI USA: Rep. Young Kim Questions Treasury Secretary Bessent at Financial Services Hearing

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – This week, U.S. Representative Young Kim (CA-40) asked questions to Treasury Secretary Scott Bessent at a House Financial Services Committee hearing.  

    Watch the full clip HERE or read highlights below. 

    On tariffs 

    Rep. Kim: Southern California, where I’m from in and the district that I represent, serves as the primary gateway to Pacific Rim, and Asian goods into the United States come through the Ports of LA and Long Beach. We are already starting to see a drop in volume as the Ports of LA and Long Beach are expected to see 35% to 30% drop when compared to a year ago. Cargo volume is one of the largest economic drivers in the region, and a long-term drop will not just impact families at the grocery stores and small businesses’ bottom line but also result in truckers and dock workers losing their jobs. So, Secretary Bessent, I would like to ask, how can you ensure that our tariff policy will not unintentionally harm American small businesses and workers in the long term? 

    Secretary Bessent: Congresswoman, we believe they are, over the long term that it will drive growth in the economy. And as I’ve said many times, it is a mistake to look at trade in isolation. The Trump economic policy is a three-legged stool. Trade, taxes, and deregulation, and we believe that the sum of the parts, that the whole is greater than the parts. As we complete each one of those that the US will serve the substantial economic growth.  

    Rep. Kim: I know that a lot of my constituents, share these concerns that we raised. I’d like to continue this discussion on this specific topic with you moving forward, because I’m concerned that these long scale tariffs, if they continue in the long term, then American working families and small businesses will suffer under price hikes and a lack of certainty. 

    On the Financial Stability Oversight Council (FSOC) 

    Rep. Kim: Under the previous administration, Secretary Yellen rescinded the non-bank systematically important financial institution and replaced it with a new framework for assessing the financial risk. This new framework overlooks the importance of prioritizing an activity based standard and a cost benefit analysis. So, Secretary Bessent, does FSOC intend to reassess the 2023 guidance so that it is more closely aligned with the thoughtful process that was created in 2019? 

    Secretary Bessent: Congresswoman, that is on our agenda.  

    Rep. Kim: Thank you. You know, as you finalize that decision, I want to emphasize that my support for a return to an activity based approach that more appropriately addresses the risk of non-banks.  

    Secretary Bessent: Treasury would be happy to work with your team on that.  

    On CDFI Fund 

    Rep. Kim: I’d like to urge you to continue your support for CDFI. CDFI Fund programs are statutory, as you know, and this has been critical in promoting the local economy in Orange County. Do you still agree that the CDFI plan has a critical role to play in fostering economic opportunity? I think I know the answer because you stated very clearly, in public statements. 

    Secretary Bessent: We believe that if CDFI officials follow their statutory obligations and do not digress into more ideological boundaries, they can be important institutions. 

    On Financial Literacy 

    Rep. Kim: As you know, last week I attended the Financial Literacy Roundtable that your team put together. I want to thank you so much because, as a co-chair of the Financial Literacy and Wealth Creation Caucus, events like that, bringing the stakeholders together and having a meaningful dialogue and conversation, I think is critically important. We need to continue that. Can you talk about how you can continue to advance financial literacy initiatives now that we are past the Financial Literacy Month?  

    Secretary Bessent: As you should know, it is a strong core belief of mine that financial literacy is the only path to economic independence and well-being. The more Americans that who can be educated, and I think we should probably go state to state and encourage each state to put in financial literacy standards for their students. 

    MIL OSI USA News –

  • MIL-OSI USA: GREAT DEAL FOR AMERICA: President Trump’s “Breakthrough” Trade Deal

    US Senate News:

    Source: The White House
    In February, President Donald J. Trump promised “a great trade agreement” with the United Kingdom — and today he delivered with a “breakthrough” trade deal that expands market access, curbs non-tariff barriers, and levels the playing field for American exporters.
    Promises made, promises kept — and he’s just getting started.
    It’s the first such deal under President Trump’s transformational plan to liberate Americans from globalist trade policies that make foreign countries rich while Americans get robbed. It’s all part of President Trump’s vision of economic prosperity: fair trade, historic tax cuts, deregulation, and a manufacturing revival that will cement America’s new Golden Age for decades to come.
    Here’s what they’re saying:
    National Cattlemen’s Beef Association President Buck Wehrbein: “With this trade deal, President Trump has delivered a tremendous win for American family farmers and ranchers. For years, American cattle producers have seen the United Kingdom as an ideal partner for trade. Between our countries’ shared history, culture, and their desire for high-quality American beef, securing a trade agreement is a natural step forward. Thank you President Trump for fighting for American cattle producers.”
    Renewable Fuels Association President and CEO Geoff Cooper: “We sincerely thank President Trump and his trade negotiators for ensuring that American-made ethanol is an important part of the trade agreement announced today with the United Kingdom. While we are still awaiting the specific details of the agreement, we are excited about the prospects of expanded market access that will help boost our farm economy, while also delivering lower-cost, cleaner fuel to UK drivers.”
    International Dairy Foods Association President and CEO Michael Dykes, D.V.M.: “On behalf of America’s dairy processors and producers, IDFA applauds President Trump’s announcement today that the United States and the United Kingdom have reached the terms for a significant trade deal between our two markets that promises to expand access for U.S. agricultural goods, reduce tariffs, and remove barriers to trade … For too long, the UK has limited America’s food and agricultural exports to the world’s sixth largest economy and now President Trump’s deal promises to level the playing field. IDFA looks forward to studying the details of this agreement as they emerge, especially specifics on relief and new market access opportunities for U.S. dairy products. The United States offers the world’s most wholesome, high-quality and affordable dairy products and IDFA is excited to work with our member companies to bring these delicious products to more consumers in the United Kingdom.”
    Growth Energy CEO Emily Skor: “In terms of trade with the UK, the American ethanol industry had its best year ever last year of exports valued at over $535 million. This trade agreement puts us on track to set another record, all to the benefit of American farmers, biofuel producers, and UK consumers. We look forward to learning more, and finding new ways to help the UK achieve its economic and environmental goals through the increased use of American biofuels. We commend the President and his team for making this deal and creating new opportunities for American ethanol and rural America.”
    Job Creators Network CEO Alfredo Ortiz: “Trump’s trade deal with the United Kingdom is a big victory for small businesses, American consumers, and the Trump administration itself. By reducing tariffs and trade barriers, American small businesses will be able to expand their markets and more easily sell to the relatively wealthy UK, whose population is 70 million. American consumers — including small businesses — will also get cheaper access to British goods. President Trump’s tough tariff stance is starting to pay dividends in the form of fairer and freer trade deals that put America first. The many more deals to come will greatly improve the small business economy, financial markets, and American prosperity.”
    Consumer Brands Association President and CEO Melissa Hockstad: “Consumer Brands commends the Trump administration’s successful completion of a comprehensive trade deal with the United Kingdom. As President Trump and his team pursues the America First Trade Policy agenda, the consumer packaged goods industry — America’s largest domestic manufacturing sector by employment — supports the creation of new opportunities for U.S. businesses and efforts to address unfair trade barriers around the world. As the administration continues to pursue deals with other countries, we encourage U.S. trade representatives to examine the needs of different manufacturing sectors and prioritize maintaining access to unavailable natural resources. Ensuring continued trade flows of those key ingredients, which are not available from U.S. sources, is critical to achieving the president’s economic vision, fighting grocery inflation and protecting the 22.3 million American jobs supported by food, beverage, household and personal care manufacturers.”
    HSBC USA President & CEO Lisa McGeough: “Today’s landmark US – UK trade agreement marks a significant step in strengthening transatlantic economic ties and expanding opportunities for businesses and investors. As a British-headquartered bank with a strong US footprint, we’re uniquely positioned to help American companies and investors seize new growth opportunities domestically, in the UK, and beyond. In the US, we stand ready to leverage our position as the world’s leading trade bank to facilitate cross-border commerce, support job creation, and drive investment. We commend the administration on the first of what we hope will be many forward-looking trade agreements.”
    American Farm Bureau Federation President Zippy Duvall: “Farm Bureau appreciates the work between the administration and the United Kingdom to secure a new trade agreement. We have long advocated for new trade deals, and this is an important first step in expanding markets in the four countries … We’re encouraged by progress to create market opportunities for farmers.”
    Nebraska Gov. Jim Pillen: “Trade matters to Nebraska because our farmers and ranchers produce the absolute best – and feed the world. America’s relationship with the U.K. is longstanding, and there is great potential for expanded trade between our countries. President Trump and his administration know that we need more trade with fewer barriers, and they are working around the clock to finalize trade deals with partners across the globe. That’s good news for Nebraska.”
    Iowa Secretary of Agriculture Mike Naig: “A new trade deal with a key ally like the United Kingdom is great news and so I am very encouraged by President Trump’s announcement today. I am particularly pleased to hear the President tout expanded market access for ethanol, beef, and, as he put it, ‘virtually all the products produced by our great farmers’ … Today’s trade announcement demonstrates that there is real progress being made toward opening additional markets for Iowa products across the globe. I hope this deal is the first of many that will be announced with other trading partners in the coming weeks and months.”
    Senate Majority Whip John Barrasso: “It’s good to have the dealmaker-in-chief back in the White House. President Trump’s historic trade deal with the U.K. will mean more jobs and increased investment right here in America. More promises kept.”
    Sen. Jim Banks: “Art of the Deal!”
    Sen. John Boozman: “I just spoke on the phone with USTR Ambassador Greer to discuss the good news. He’s doing a great job, and I look forward to working with him and @SecRollins to ensure agriculture market access remains a priority as the details continue to be worked out.”
    Sen. John Cornyn: “@POTUS Donald Trump will unveil his first post-Liberation Day trade deal this morning — a “major” agreement with the United Kingdom on rolling back tariffs.”
    Sen. Joni Ernst: “President Trump continues to deliver and is opening new markets for Iowa farmers!”
    Sen. Bill Hagerty: “No surprise that our Dealmaker-in-Chief President Donald Trump is rapidly delivering on his promise to ensure our trading partners are operating in good faith and that America is being treated fairly. The deal the President struck with the UK is proof that countries are responding to tariffs and want to enter into trade agreements with the United States that benefit both parties. I look forward to many more announcements in the near future.”
    Sen. Roger Marshall: “Promises made. Promises kept. We are opening up new markets for our world class Kansas beef! Big win.”
    Sen. Jerry Moran: “The UK offers a strategic market for American aviation & agricultural products. I introduced legislation earlier this year to lay the groundwork for a strong bilateral trade relationship, & President Trump’s announcement of a new trade agreement with the UK is a positive step forward.”
    Sen. Bernie Moreno: “An absolutely historic pro America deal by the most pro America President of my lifetime. We will no longer be ripped off and will no longer tolerate trade imbalances that have destroyed the opportunities for working Americans.”
    Sen. Eric Schmitt: “After years of getting ripped off, America is finally playing to win. More exports, more products made here, and record-breaking investment thanks to President Trump’s trade deals.”
    Sen. Rick Scott: “Great news! Thank you, President Trump, for working with our allies while putting America first and protecting American jobs!”
    Sen. Tim Sheehy: “The Art of the Deal. President Trump just delivered a huge win for hardworking Americans. Let’s keep them coming!”
    Sen. Thom Tillis: “A big win secured by @POTUS with the United Kingdom, our greatest ally and one of our largest trade partners. This is a significant step toward establishing fair and mutually beneficial trade relationships with our global partners.”
    Sen. Tommy Tuberville: “Today’s trade deal with the UK is the first of many to come. Like I always say: Never bet against @realDonaldTrump. THE ART OF THE DEAL”
    House Majority Whip Tom Emmer: “The master negotiator succeeds again. @POTUS promised to bring our trading partners to the table and secure deals that put AMERICA FIRST—and that’s exactly what he did. More to come!”
    House Republican Conference Chair Lisa McClain: “Promises Made, Promises KEPT! @POTUS brought countries to the negotiation table and has already DELIVERED a historic trade deal.”
    House Republican Leadership Chair Elise Stefanik: “President @realDonaldTrump delivers AGAIN. Thanks to his bold leadership and tough tariffs, the UK is the first to come to the table—with a new trade deal that puts American workers and businesses FIRST. This is what economic strength and real leadership looks like. Fair trade. Better deals. America wins.”
    Rep. Mark Alford: “Fact check: President Trump’s tariff strategy works. Boosting American manufacturing and fighting for our farmers. ANOTHER WIN FOR AMERICA.”
    Rep. Rick Allen: “Another VICTORY! @POTUS is bringing our trading partners to the table and securing billions in new market access for American workers, businesses, and producers. Today’s trade deal with the U.K. will be the first of many. Economic strength is national strength!”
    Rep. Don Bacon: “I congratulate @POTUS on striking a trade deal with the U.K. While we wait for the finer details of the agreement, including more than $700 million in ethanol exports and $250 million in other AG products like beef, every Nebraskan will surely feel it.”
    Rep. Aaron Bean: “President Trump announced the first historic trade deal with the UK—something the legacy media said was ‘impossible.’ Today’s deal will make our economy stronger, put American workers first, and unleash the full potential of American industry.”
    Rep. Vern Buchanan: “President Trump has once again delivered for the American people with a historic trade agreement that puts our workers and businesses first. This new deal with the United Kingdom dramatically expands access for American exports—especially agriculture—and levels the playing field for our manufacturers.”
    Rep. Tim Burchett: “.@realDonaldTrump is fulfilling his promise to protect American workers and businesses. The UK trade deal slashes tariffs against the U.S. and is Making America Prosperous Again.”
    Rep. Buddy Carter: “This new trade deal with the United Kingdom is just the start to the Golden Age of America. President Trump is keeping his promise, bringing fair trade to America by using the art of the deal!”
    Rep. Andrew Clyde: “ART OF THE DEAL in action!”
    Rep. Mike Collins: “President Trump’s tariff strategy works. Today’s trade deal with the U.K. will make our economy stronger and put American workers first. The only people upset are the Democrats and liberal media who wanted him to fail.”
    Rep. Warren Davidson: “A glaring example of why we need to trust President Trump’s tariff strategy—it’s working. Stay the course.”
    Rep. Pat Fallon: “Another day, another deal!”
    Rep. Michelle Fischbach: “More promises made and kept by @POTUS. He said he would hold our trade partners accountable and put America first, and he’s delivering. This is just the beginning!”
    Rep. Julie Fedorchak: “@POTUS is delivering exactly what our producers need. North Dakota grows and raises some of the best products in the world, and now we have greater access to one of the world’s largest markets. This is just the first of many trade victories to come under President Trump!”
    Rep. Chuck Fleischmann: “@POTUS is ending decades of unfair trade deals that have ripped off the American People and is moving at lightning speed to negotiate and deliver America First trade deals. The US-UK trade deal announced today is historic and is only just the beginning!”
    Rep. Mike Flood: “Over the last four years, President Biden did nothing on trade. Within a matter of months, President Trump’s dealmaking experience resulted in a trade deal with the United Kingdom, one of our country’s oldest allies.”
    Rep. Virginia Foxx: “The Art of The Deal.”
    Rep. Lance Gooden: “In four years, Joe Biden signed ZERO major trade deals. In just over 100 days, President Trump negotiated and signed a major trade deal with the United Kingdom. America is leading once again.”
    Rep. Mark Green: “Once again, the Negotiator-in-Chief is closing deals to safeguard American manufacturers and grow our trade bigger and better than ever. On Victory in Europe Day, there isn’t a better anniversary to solidify our partnership with the United Kingdom.”
    Rep. Marjorie Taylor Greene: “Another incredible trade deal just secured by President Trump! The Golden Age of America is here!!”
    Rep. Diana Harshbarger: “This is a HUGE WIN! Because of @POTUS’s leadership, America is securing historic economic deals—and this is just the beginning!”
    Rep. Ashley Hinson: “Huge win—and many more to come! @POTUS is fighting to right the wrongs of the past, return to fair trade, and build a more abundant America. Thank you for prioritizing new market opportunities for Iowa’s farmers and biofuels producers.”
    Rep. Richard Hudson: “This is what decisive leadership looks like. Thank you, @POTUS!”
    Rep. Wesley Hunt: “Economic Security IS National Security — and PRESIDENT TRUMP is doing it again! This HISTORIC DEAL delivers:A stronger industrial baseTougher export controlsProtection of U.S. techBoosted steel productionThis is the Art of the Deal — the world is taking notes!”
    Rep. Jim Jordan: “President Trump’s trade deal with the UK is the first of many to come. There’s no better negotiator. There’s no one better to fix Joe Biden’s broken economy.”
    Rep. Young Kim: “I’m glad to see the Trump administration work with our ally Britain to promote fair trade and expand market opportunity for U.S. agricultural producers.”
    Rep. David Kustoff: “Today, @POTUS unveiled a historic U.S.-UK trade deal. $5B in new market access, $6B in tariff revenue, and a stronger alliance! @realdonaldtrump keeps delivering on his promises! This is America First!”
    Rep. Barry Loudermilk: “America has spent far too long on the losing end of global trade. President Trump pledged to put America’s interests first, and he is doing so beginning with this trade deal with one of our oldest allies. #promiseskept.”
    Rep. Tom McClintock: “The freer the trade, the greater the benefits for all countries involved. The UK agreement takes us in the right direction. Let’s keep going toward a new golden age of global free trade and the peace and prosperity it produces.”
    Rep. Dan Meuser: “This is a strong step forward. Fairer trade, lower energy costs, and pro-growth tax policies will keep driving investment here at home. I also laid out how we can responsibly reduce spending while extending key provisions of President Trump’s Tax Cuts and Jobs Act, which delivered significant benefits for families and small businesses.”
    Rep. Mary Miller: “THE ART OF THE DEAL!”
    Rep. Riley Moore: “Absolute genius to announce this deal on V-E Day!”
    Rep. Troy Nehls: President Trump is the Dealmaker in Chief. He has reached a historic trade deal with the United Kingdom. President Trump and his entire administration are working hard to protect American industries, protect American workers, and grow our economy. AMERICA FIRST!”
    Rep. Ralph Norman: “MASSIVE win for our farmers who will have the opportunity for a wider range in markets!! Art of the deal.”
    Rep. Andy Ogles: “President Trump delivers again!! This deal will bring billions home and make America stronger, richer, and more respected. A huge win for the American people.”
    Rep. Gary Palmer: A win for our nation secured by President Trump! This is what it looks like to have leadership in the White House.”
    Rep. August Pfluger: “President Trump just secured a huge trade deal—one I believe will be the first of many. This massive win for all Americans brings us one step closer to restoring fair trade policies.”
    Rep. Adrian Smith: “I’m pleased the Trump administration has struck an initial trade deal with one of our nation’s greatest trade partners and longest-standing allies. This is a significant step toward eliminating barriers to American products in foreign markets and friendshoring supply chains. I commend President Trump and his administration for conducting negotiations swiftly to the mutual benefit of our producers, job creators, and consumers. This agreement builds upon the groundwork laid in the President’s first term, and I am pleased the administration has indicated it continues to pursue dynamic dialogue with the United Kingdom to address additional concerns.”
    Rep. Marlin Stutzman: “As @POTUS says, the first of many, this is a great day for America! A combination of Trump’s trade deals and the passage of the One Big Beautiful Bill will make our country strong for generations to come.”
    Rep. Claudia Tenney: “.@POTUS is continuing to put America FIRST, working to strengthen our economy & national security by achieving historic trade deals. This is a huge win for American manufacturers & farmers, & there is only more winning to come!”
    Rep. Beth Van Duyne: “The first of many historic trade deals!! Better market access for US products!”
    Rep. Daniel Webster: Once again, @POTUS delivers for the American people by securing a historic trade deal with our key ally, the United Kingdom. This agreement lowers trade barriers, opening $5 billion of increased market access for American exports, especially for American farmers. Thank you President Trump for putting America’s farmers, businesses, and workers first!”
    Rep. Tony Wied: “The Art of the Deal.”
    Rep. Rudy Yakym: “President Trump is bringing countries to the table and securing fair trade deals. The first of many!”
    Rep. Ryan Zinke: “Great news for Montana! The UK is our 6th largest trade partner and this will help that grow!”
    House Committee on Agriculture: “This announcement is a big win for American agriculture! @POTUS is unlocking billions in new market access for U.S. exports like beef, ethanol, and more—boosting our GREAT farmers and rural economies!”
    Republican Study Committee: “Another day, another historic deal secured by President Trump! This is a MASSIVE victory for American workers. PROMISES MADE, PROMISES KEPT!”

    MIL OSI USA News –

  • MIL-OSI USA: Former Corrections Officer Sentenced to Prison For Federal Civil Rights Crime in Connection with Death of Inmate at West Virginia Jail

    Source: US State of North Dakota

    A former corrections officer from the Southern Regional Jail in Beaver, West Virginia, was sentenced today for his role in an assault that resulted in the death of an inmate, identified by the initials Q.B., on March 1, 2022. Steven Nicholas Wimmer, 25, of Bluefield, was sentenced to nine years in prison, to be followed by three years of supervised release.

    With his guilty plea, Wimmer acknowledged that he responded to a call for officer assistance after Q.B. tried to push past another correctional officer. The officers restrained and handcuffed Q.B. Officers, including Wimmer, then escorted Q.B. to an interview room, where officers struck and injured Q.B. while he was restrained, handcuffed and posed no threat to anyone. Wimmer admitted that officers struck Q.B. in the interview room in order to punish him for attempting to leave his assigned pod. Wimmer further admitted that he was a member of the conspiracy who injured Q.B. inside the interview room while Q.B. was restrained, handcuffed, and posed no threat.

    Wimmer and former Southern Regional Jail corrections officer Andrew Fleshman pleaded guilty on Nov. 2, 2023, to conspiring with other officers to use unreasonable force against Q.B. Fleshman, 22, of Shady Spring, is scheduled to be sentenced on July 14. On Nov. 29, 2023, a federal grand jury indicted six other defendants in connection with the death of Q.B. In November 2024, former correctional officers Mark Holdren, Corey Snyder, and Johnathan Walters each pleaded guilty in connection with the use of unreasonable force against Q.B., resulting in his death. Sentencing hearings for Holdren, Snyder, and Walters are scheduled for June 16. On Aug. 8, 2024, Ashley Toney and Jacob Boothe each pleaded guilty to violating Q.B.’s civil rights by failing to intervene when other officers used unreasonable force. Sentencing hearings for Boothe and Toney are scheduled for June 9.

    On January 27, a federal jury convicted defendant Chad Lester, a former Lieutenant at the Southern Regional Jail, on three obstruction of justice charges for his role in conspiring to cover up the death of Q.B. Lester is scheduled to be sentenced on May 15.

    Assistant Attorney General Harmeet Dhillon of the Justice Department’s Civil Rights Division and Acting U.S. Attorney Lisa G. Johnston for the Southern District of West Virginia made the announcement.

    The Federal Bureau of Investigation (FBI) Pittsburgh Field Office investigated the case.

    Chief United States District Judge Frank W. Volk imposed the sentence. Deputy Chief Christine M. Siscaretti and Trial Attorney Tenette Smith of the Justice Department’s Civil Rights Division prosecuted the case in partnership with the U.S. Attorney’s Office for the Southern District of West Virginia.

    A copy of this press release is located on the website of the U.S Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 5:23-cr-134.

    MIL OSI USA News –

  • MIL-OSI USA: Two Honduran Men Sentenced to Prison for their Roles in International Human Smuggling Conspiracy

    Source: US State of North Dakota

    Note: See superseding indictment here.

    Two Honduran men were sentenced today to three years in prison for their roles in a scheme to illegally smuggle Honduran nationals into the United States.

    According to court documents and evidence presented at trial, for almost a year, Hennessy Devon Cooper Zelaya, 29, and Rudy Jackson Hernandez, 38, both of Utila, Honduras, conspired with at least six others to bring Honduran nationals from Honduras to the United States via two vessels, the Masita III and the M/V Pop. The vessels sailed from Utila, Honduras to Louisiana. The aliens and/or their family members paid thousands of dollars to be brought illegally into the United States by boat. Upon arrival, the aliens were picked up by co-conspirators and driven further into the United States. The co-conspirators then placed some of the aliens in jobs at U.S. factories and other businesses knowing that the aliens lacked authorization to enter, remain, or work in the United States. The defendants were part of the vessels’ crew on multiple voyages.

    In February 2022, the defendants attempted to illegally bring 23 Honduran nationals from Utila, Honduras, to Cocodrie, Louisiana, aboard the M/V Pop, a 65’ sportfishing vessel. During the voyage, the M/V Pop developed engine trouble and lost power. The co-conspirators then chartered a boat to bring fuel to the disabled vessel so that it could complete its journey to the United States. Before the chartered boat reached the disabled vessel, the U.S. Coast Guard interdicted the vessel approximately 75 miles off the coast of Louisiana and towed it to shore. Inside the vessel, law enforcement officers also found 24 kilograms of cocaine.

    Cooper Zelaya and Jackson Hernandez were convicted after trial of conspiracy to unlawfully bring aliens to the United States for commercial advantage and private financial gain and attempting to bring aliens to the United States for commercial advantage and private financial gain.

    The lead defendant in the case, Carl Allison, previously pleaded guilty in December 2023 to conspiracy to unlawfully bring aliens to the United States for financial gain and conspiracy to distribute five kilograms or more of cocaine hydrochloride. Three additional co-conspirators, all Honduran nationals, pleaded guilty last year for their roles in the scheme: Darrel Martinez, 41, and Josue Flores-Villeda, 36, pleaded guilty to the same charges as Allison; and Lenord Cooper, 40, pleaded guilty to conspiracy to aid and assist aliens to enter the United States unlawfully and attempting to bring aliens to the United States for commercial advantage and private financial gain. A fifth man, Honduran national Olvin Javier Velasquez Maldonado, was extradited from Honduras in April and is charged with one count of conspiracy to possess with intent to distribute five kilograms or more of cocaine. Maldonado’s trial is scheduled for June 16. An indictment is merely an allegation, and Maldonado is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, Acting U.S. Attorney Michael M. Simpson for the Eastern District of Louisiana, and Special Agent in Charge Eric DeLaune of U.S. Immigration and Customs Enforcement Homeland Security Investigations (HSI) New Orleans Field Office made the announcement.

    The HSI Houma, Louisiana Field Office investigated the case, with assistance from the HSI Pittsburgh Field Office, HSI Atlanta Field Office, and Louisiana Bureau of Investigation. The HSI Human Smuggling Unit in Washington, D.C., U.S. Customs and Border Protection’s National Targeting Center International Interdiction Task Force, U.S. Coast Guard Investigative Service, U.S. Customs and Border Protection’s Air and Marine Operations, Louisiana State Police, Pennsylvania State Police, North Huntington Township Police, and Terrebonne Parish Sheriff’s Office also provided valuable assistance.

    Deputy Chief Rami Badawy of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorney Carter Guice for the Eastern District of Louisiana prosecuted the case. The Justice Department’s Office of International Affairs (OIA) and the Criminal Division’s Office of Overseas Prosecutorial Development, Assistance and Training (OPDAT) in Honduras provided assistance.

    The sentencings are the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA, a partnership with the Department of Homeland Security (DHS), has been elevated and expanded by the Attorney General with a mandate to target cartels and other transnational criminal organizations to eliminate human smuggling and trafficking networks operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia that impact public safety and the security of our borders. JTFA currently comprises detailees from U.S. Attorneys’ Offices along the border. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Money Laundering and Asset Recovery Section, the Office of Enforcement Operations, OIA, and OPDAT, among others. JTFA also relies on substantial law enforcement investment from DHS, the FBI, the Drug Enforcement Administration, and other partners. To date, JTFA’s work has resulted in more than 365 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 334 U.S. convictions; more than 281 significant jail sentences imposed; and substantial seizures and forfeitures of assets and contraband including millions of dollars in cash, real property, vehicles, firearms and ammunition, and drugs.

    This case is also supported by the Organized Crime and Drug Enforcement Task Forces (OCDETF) and the Extraterritorial Criminal Travel Strike Force (ECT) program. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. The ECT program is a partnership between the Justice Department’s Criminal Division and HSI and 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 also coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

    MIL OSI USA News –

  • MIL-OSI Security: Former Corrections Officer Sentenced to Prison For Federal Civil Rights Crime in Connection with Death of Inmate at West Virginia Jail

    Source: United States Attorneys General 1

    A former corrections officer from the Southern Regional Jail in Beaver, West Virginia, was sentenced today for his role in an assault that resulted in the death of an inmate, identified by the initials Q.B., on March 1, 2022. Steven Nicholas Wimmer, 25, of Bluefield, was sentenced to nine years in prison, to be followed by three years of supervised release.

    With his guilty plea, Wimmer acknowledged that he responded to a call for officer assistance after Q.B. tried to push past another correctional officer. The officers restrained and handcuffed Q.B. Officers, including Wimmer, then escorted Q.B. to an interview room, where officers struck and injured Q.B. while he was restrained, handcuffed and posed no threat to anyone. Wimmer admitted that officers struck Q.B. in the interview room in order to punish him for attempting to leave his assigned pod. Wimmer further admitted that he was a member of the conspiracy who injured Q.B. inside the interview room while Q.B. was restrained, handcuffed, and posed no threat.

    Wimmer and former Southern Regional Jail corrections officer Andrew Fleshman pleaded guilty on Nov. 2, 2023, to conspiring with other officers to use unreasonable force against Q.B. Fleshman, 22, of Shady Spring, is scheduled to be sentenced on July 14. On Nov. 29, 2023, a federal grand jury indicted six other defendants in connection with the death of Q.B. In November 2024, former correctional officers Mark Holdren, Corey Snyder, and Johnathan Walters each pleaded guilty in connection with the use of unreasonable force against Q.B., resulting in his death. Sentencing hearings for Holdren, Snyder, and Walters are scheduled for June 16. On Aug. 8, 2024, Ashley Toney and Jacob Boothe each pleaded guilty to violating Q.B.’s civil rights by failing to intervene when other officers used unreasonable force. Sentencing hearings for Boothe and Toney are scheduled for June 9.

    On January 27, a federal jury convicted defendant Chad Lester, a former Lieutenant at the Southern Regional Jail, on three obstruction of justice charges for his role in conspiring to cover up the death of Q.B. Lester is scheduled to be sentenced on May 15.

    Assistant Attorney General Harmeet Dhillon of the Justice Department’s Civil Rights Division and Acting U.S. Attorney Lisa G. Johnston for the Southern District of West Virginia made the announcement.

    The Federal Bureau of Investigation (FBI) Pittsburgh Field Office investigated the case.

    Chief United States District Judge Frank W. Volk imposed the sentence. Deputy Chief Christine M. Siscaretti and Trial Attorney Tenette Smith of the Justice Department’s Civil Rights Division prosecuted the case in partnership with the U.S. Attorney’s Office for the Southern District of West Virginia.

    A copy of this press release is located on the website of the U.S Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 5:23-cr-134.

    MIL Security OSI –

  • MIL-OSI Security: Two Honduran Men Sentenced to Prison for their Roles in International Human Smuggling Conspiracy

    Source: United States Attorneys General 1

    Note: See superseding indictment here.

    Two Honduran men were sentenced today to three years in prison for their roles in a scheme to illegally smuggle Honduran nationals into the United States.

    According to court documents and evidence presented at trial, for almost a year, Hennessy Devon Cooper Zelaya, 29, and Rudy Jackson Hernandez, 38, both of Utila, Honduras, conspired with at least six others to bring Honduran nationals from Honduras to the United States via two vessels, the Masita III and the M/V Pop. The vessels sailed from Utila, Honduras to Louisiana. The aliens and/or their family members paid thousands of dollars to be brought illegally into the United States by boat. Upon arrival, the aliens were picked up by co-conspirators and driven further into the United States. The co-conspirators then placed some of the aliens in jobs at U.S. factories and other businesses knowing that the aliens lacked authorization to enter, remain, or work in the United States. The defendants were part of the vessels’ crew on multiple voyages.

    In February 2022, the defendants attempted to illegally bring 23 Honduran nationals from Utila, Honduras, to Cocodrie, Louisiana, aboard the M/V Pop, a 65’ sportfishing vessel. During the voyage, the M/V Pop developed engine trouble and lost power. The co-conspirators then chartered a boat to bring fuel to the disabled vessel so that it could complete its journey to the United States. Before the chartered boat reached the disabled vessel, the U.S. Coast Guard interdicted the vessel approximately 75 miles off the coast of Louisiana and towed it to shore. Inside the vessel, law enforcement officers also found 24 kilograms of cocaine.

    Cooper Zelaya and Jackson Hernandez were convicted after trial of conspiracy to unlawfully bring aliens to the United States for commercial advantage and private financial gain and attempting to bring aliens to the United States for commercial advantage and private financial gain.

    The lead defendant in the case, Carl Allison, previously pleaded guilty in December 2023 to conspiracy to unlawfully bring aliens to the United States for financial gain and conspiracy to distribute five kilograms or more of cocaine hydrochloride. Three additional co-conspirators, all Honduran nationals, pleaded guilty last year for their roles in the scheme: Darrel Martinez, 41, and Josue Flores-Villeda, 36, pleaded guilty to the same charges as Allison; and Lenord Cooper, 40, pleaded guilty to conspiracy to aid and assist aliens to enter the United States unlawfully and attempting to bring aliens to the United States for commercial advantage and private financial gain. A fifth man, Honduran national Olvin Javier Velasquez Maldonado, was extradited from Honduras in April and is charged with one count of conspiracy to possess with intent to distribute five kilograms or more of cocaine. Maldonado’s trial is scheduled for June 16. An indictment is merely an allegation, and Maldonado is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, Acting U.S. Attorney Michael M. Simpson for the Eastern District of Louisiana, and Special Agent in Charge Eric DeLaune of U.S. Immigration and Customs Enforcement Homeland Security Investigations (HSI) New Orleans Field Office made the announcement.

    The HSI Houma, Louisiana Field Office investigated the case, with assistance from the HSI Pittsburgh Field Office, HSI Atlanta Field Office, and Louisiana Bureau of Investigation. The HSI Human Smuggling Unit in Washington, D.C., U.S. Customs and Border Protection’s National Targeting Center International Interdiction Task Force, U.S. Coast Guard Investigative Service, U.S. Customs and Border Protection’s Air and Marine Operations, Louisiana State Police, Pennsylvania State Police, North Huntington Township Police, and Terrebonne Parish Sheriff’s Office also provided valuable assistance.

    Deputy Chief Rami Badawy of the Criminal Division’s Human Rights and Special Prosecutions Section (HRSP) and Assistant U.S. Attorney Carter Guice for the Eastern District of Louisiana prosecuted the case. The Justice Department’s Office of International Affairs (OIA) and the Criminal Division’s Office of Overseas Prosecutorial Development, Assistance and Training (OPDAT) in Honduras provided assistance.

    The sentencings are the result of the coordinated efforts of Joint Task Force Alpha (JTFA). JTFA, a partnership with the Department of Homeland Security (DHS), has been elevated and expanded by the Attorney General with a mandate to target cartels and other transnational criminal organizations to eliminate human smuggling and trafficking networks operating in Mexico, Guatemala, El Salvador, Honduras, Panama, and Colombia that impact public safety and the security of our borders. JTFA currently comprises detailees from U.S. Attorneys’ Offices along the border. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by HRSP and supported by the Money Laundering and Asset Recovery Section, the Office of Enforcement Operations, OIA, and OPDAT, among others. JTFA also relies on substantial law enforcement investment from DHS, the FBI, the Drug Enforcement Administration, and other partners. To date, JTFA’s work has resulted in more than 365 domestic and international arrests of leaders, organizers, and significant facilitators of alien smuggling; more than 334 U.S. convictions; more than 281 significant jail sentences imposed; and substantial seizures and forfeitures of assets and contraband including millions of dollars in cash, real property, vehicles, firearms and ammunition, and drugs.

    This case is also supported by the Organized Crime and Drug Enforcement Task Forces (OCDETF) and the Extraterritorial Criminal Travel Strike Force (ECT) program. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks. The ECT program is a partnership between the Justice Department’s Criminal Division and HSI and 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 also coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

    MIL Security OSI –

  • MIL-OSI Security: Three Men Charged in Southern District of Indiana for Illegally Reentering the United States after Previous Deportation Following Criminal Convictions or Charges

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Southern District of Indiana—Last week, three illegal aliens were arrested and charged federally with unlawfully reentering the United States after previously being deported following immigration proceedings. The charges follow an immigration and enforcement removal operation that took place in Evansville and Bloomington, Indiana between April 29 and May 1.

    According to court documents, each of the three men are Mexican nationals who illegally returned to the United States and were found by Immigration and Customs Enforcement in the Southern District of Indiana. As outlined below, court documents allege that each man had previously been convicted of crimes they committed in the United States, or had charges pending against them, or both.

    • Martin Cortez-Lopez, 36, was arrested on April 29 in Bloomington. Cortez-Lopez had previously been convicted in Florida on charges of resisting an officer with violence, possession of a controlled substance, and disorderly intoxication in a public place causing a disturbance. He currently faces charges in Monroe County, Indiana, following two incidents, one resulting in charges of possession of cocaine and operating a vehicle while intoxicated, and the other resulting in charges of possession of cocaine and operating a vehicle while intoxicated endangering a person. He has previously been removed from the United States on at least one occasion.
    • Jaime Ortiz-Guzman, 46, was arrested on May 1 in Bloomington. Ortiz-Guzman had previously been convicted in Indiana on charges of operating a vehicle while intoxicated. He currently faces charges in Monroe County, Indiana, for operating a vehicle while intoxicated causing serious bodily injury. He has previously been removed from the United States on at least one occasion.
    • Amin Reynosa-Diaz, 28, was arrested on April 29 in Evansville. Reynosa-Diaz had previously been convicted in Indiana of domestic battery. He currently faces charges in Hampton County, Virginia, for driving while intoxicated, and is wanted on multiple warrants for failing to appear in court. He has previously been removed from the United States on at least one occasion.

    If convicted, each man faces up to between two and ten years in prison.

    These charges and arrests are the latest prosecutions of illegal aliens who were found in the Southern District of Indiana after unlawfully re-entering the United States after having been previously deported. Specifically, these prosecutions involve illegal aliens who were previously convicted of crimes they committed in the United States, or who are facing pending charges, or both, for offenses including rape, domestic violence resulting in serious bodily injury, child molestation, burglary, and operating a vehicle while intoxicated.

    The following investigative agencies collaborated to make this investigation and recent warrant execution possible:

    • Immigration and Customs Enforcement
    • Federal Bureau of Investigation
    • Drug Enforcement Administration
    • Bureau of Alcohol, Tobacco, Firearms, and Explosives
    • Homeland Security Investigations
    • U.S. Marshals Service

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorneys Carolyn Haney, Meredith Wood, Todd S. Shellenbarger, and Matthew B. Miller, who are prosecuting these cases. 

    These changes and arrests are part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETF) and Project Safe Neighborhoods (PSN).

    An indictment or criminal complaint are merely allegations, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI –

  • MIL-OSI: Draganfly Announces First Quarter Results of 2025

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, BC., May 08, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its first quarter financial results.

    Key Financial and Operational Highlights for Q1 2025:

    • Revenue for the first quarter of 2025 was $1,547,715 which represents a 16% year over year increase. Product sales of $1,541,811 were up 24.5% over the same period last year.
    • Gross profit for Q1 2025 was $310,088 up 10.7% from $280,011 for the same period last year. Gross margin percentage for Q1 2025 was 20.0% compared to 21.1% in Q1 2024. Gross profit would have been $271,422 and gross margin would have been 17.5%, not including a one-time non-cash recovery of a write down of inventory of $38,666. The decrease is due to the sales mix of the products sold.
    • The comprehensive loss for the period of $3,433,712 includes non-cash changes comprised of a positive change in fair value derivative of $157,830, a recovery of a write down of inventory of $38,666, and an impairment gain on notes receivable of $25,951 and would otherwise be a comprehensive loss of $3,656,159 vs an adjusted comprehensive loss of $3,559,976 for the same period last year. Contributors to the slight year-over-year increase are increased research and development, office and miscellaneous, professional fees, share based payments, and wages offset by change in derivative liability.
    • Cash balance on March 31, 2025 of $2,126,103 compared to $6,252,409 on December 31, 2024.
    • Volatus Aerospace partnered with Draganfly to integrate Volatus’ advanced Bathymetric LiDAR technology with Draganfly’s Heavy Lift Drone for a pilot project in oil and gas exploration. This collaboration aims to enhance precision data acquisition in energy markets. Additionally, Volatus became an OEM-approved dealer for Draganfly’s UAV platforms, including the Heavy Lift Drone, Commander 3XL, and Apex Drones.
    • Draganfly obtained a waiver from the FAA under 14 CFR §§ 107.39 and 107.145, allowing its drones to operate over people and moving vehicles. This waiver enables Draganfly to conduct flights beyond standard operational restrictions, facilitating advanced UAV operations in complex urban environments.
    • Building upon their existing partnership, Volatus Aerospace and Draganfly announced an expanded collaboration to address the growing demand for automated geospatial data collection and analysis solutions in the utility infrastructure sector. This strategic alliance combines Volatus’ operational expertise with Draganfly’s advanced sensor technology to enhance services for high-value power utility customers.
    • Draganfly announced the establishment of a new U.S. facility in Tampa, Florida, strategically positioned near key military and government clients. This expansion includes a demonstration and live-fire testing facility, reinforcing Draganfly’s commitment to delivering cutting-edge drone solutions to its U.S. customers and bolstering national security and defense partnerships.
    • The Massachusetts Department of Transportation’s Aeronautics Division selected Draganfly to conduct a drone medical delivery demonstration, which was successfully completed. The demonstration involved the simulated delivery of medical supplies to support home-based healthcare, showcasing the potential of UAVs in enhancing healthcare logistics.
    • Draganfly appointed Christopher C. Miller, former Acting U.S. Secretary of Defense under President Donald Trump, to its Board of Directors. Miller brings extensive experience in defense and intelligence, which is expected to guide Draganfly’s strategic initiatives in government, defense, and aerospace sectors.

    Draganfly will hold a shareholder update and earnings call on May 8, 2025 at 2:30 p.m. PDT / 5:30 p.m. EDT.

    Registration for the call can be done Here

    Selected financial information is outlined below and should be read with Draganfly’s consolidated financial statements for the quarter ended March 31, 2025, and associated management discussion and analysis, which will be available under the Company’s profile on SEDAR at www.sedar.com and filed on EDGAR at www.sec.gov.

        Three months ended March 31,
                2025     2024  
    Total revenues         $ 1,547,715   $ 1,329,581  
    Gross Margin (as a % of revenues) (1)           20.0 %   21.1 %
    Net income (loss)           (3,424,825 )   (1,863,808 )
    Net income (loss) per share ($)                
              (0.63 )   (0.85 )
              (0.63 )   (0.85 )
    Comprehensive income (loss)           (3,433,712 )   (1,884,416 )
    Comprehensive income (loss) per share ($)                
              (0.63 )   (0.86 )
              (0.63 )   (0.86 )
    Change in cash and cash equivalents         $ (4,126,306 ) $ 1,246,124  

    (1) Gross Profit (as a % of revenues) would have been 17.5% and 32.2% not including a non-cash recovery of a write down of inventory of $38,666 and a non-cash write down of inventory of $148,760 respectively for the three month period ending March 31 2025 and 2024, respectively.

    As at           March 31, 2025   December 31, 2024
    Total assets         $ 6,919,097 $ 10,200,088
    Working capital           705,243   3,846,283
    Total non-current liabilities           296,067   342,013
    Shareholders’ equity         $ 1,476,648 $ 4,621,783
    Number of shares outstanding   5,433,824   5,427,795

    Shareholders’ equity and working capital as at March 31, 2025, includes a fair value of derivative liability of $2,040,291 (2024 – $2,198,121) and would otherwise be $3,516,939 (2024 – $6,819,904) and $2,745,534 (2024 – $6,044,404), respectively.

        2025 Q1   2024 Q4   2024 Q1
    Revenue $ 1,547,715   $ 1,613,162   $ 1,329,581  
    Cost of sales(2) $ (1,237,627 ) $ (1,397,422 ) $ (1,049,570 )
    Gross profit(3) $ 310,088   $ 215,740   $ 280,011  
    Gross margin – percentage   20.0 %   13.4 %   21.1 %
    Operating expenses $ (3,911,035 ) $ (4,085,766 ) $ (3,530,933 )
    Operating income (loss) $ (3,600,947 ) $ (3,870,026 ) $ (3,250,922 )
    Operating loss per share – basic $ (0.66 ) $ (0.91 ) $ (1.47 )
    Operating loss per share – diluted $ (0.66 ) $ (0.91 ) $ (1.47 )
    Other income (expense) $ 176,122   $ (851,896 ) $ 1,387,114  
    Change in fair value of derivative liability (1) $ 157,830   $ (946,116 ) $ 1,817,569  
    Other comprehensive income (loss) $ (8,887 ) $ 5,991   $ (20,608 )
    Comprehensive income (loss) $ (3,433,712 ) $ (4,715,931 ) $ (1,884,416 )
    Comprehensive income (loss) per share – basic $ (0.63 ) $ (1.11 ) $ (0.86 )
    Comprehensive income (loss) per share – diluted $ (0.63 ) $ (1.11 ) $ (0.86 )

    (1) Included in other income (expense).

    (2) Cost of goods sold includes non-cash inventory write downs of, $167,515 in Q4 2024 and a recovery of a write down of inventory of $38,666 in Q1 2025 and would have been $1,229,907 in Q4 2024 and $1,276,293 in Q1 2025 before these write downs.
    (3) Gross profit would have been $383,255 in Q4 2024 and $271,422 in Q1 2025 without the write downs in number 2 above. 
    (4) Cost of goods sold includes non-cash inventory write downs of $148,760 in Q1 2024 and would have been $900,810 in Q1 2024 before these write downs.
    (5) Gross profit would have been $428,771 in Q1 2024 without the write downs in number 4 above.

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 25 years, Draganfly is an award-winning industry leader serving the public safety, public health, mining, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

    Media Contact
    Erika Racicot
    Email: media@draganfly.com

    Company Contact
    Email: info@draganfly.com

    Note Regarding Non-GAAP Measures

    In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit and gross margin are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results.

    Throughout this release, reference is made to “gross profit,” and “gross margin,” which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards (“IFRS”). For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the “Non-GAAP Measures and Additional GAAP Measures”‎ section of the Company’s most recent MD&A which is available on SEDAR.

    Forward-Looking Statements

    This release contains certain “forward looking statements” and certain “forward-looking information” as ‎defined under applicable Canadian securities laws. Forward-looking statements and information can ‎generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, ‎‎“estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements ‎and information are based on forecasts of future results, estimates of amounts not yet determinable and ‎assumptions that, while believed by management to be reasonable, are inherently subject to significant ‎business, economic and competitive uncertainties and contingencies. Forward-looking statements and ‎information are subject to various known and unknown risks and uncertainties, many of which are beyond ‎the ability of the Company to control or predict, that may cause the Company’s actual results, ‎performance or achievements to be materially different from those expressed or implied thereby, and are ‎developed based on assumptions about such risks, uncertainties and other factors set out here in, ‎including but not limited to: the Company’s arrangement with Volatus Aerospace to integrate Volatus’ advanced Bathymetric LiDAR technology with Draganfly’s Heavy Lift Drone for a pilot project in oil and gas exploration as well as the expanded collaboration to address the growing demand for automated geospatial data collection and analysis solutions in the utility infrastructure sector; the obtention of a waiver from the FAA under 14 CFR §§ 107.39 and 107.145, allowing its drones to operate over people and moving vehicles; the establishment of a new U.S. facility in Tampa, Florida, strategically positioned near key military and government clients‎; and financial condition, the successful integration of technology, the inherent risks involved in ‎the general securities markets; uncertainties relating to the availability and costs of financing needed in ‎the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and ‎expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and ‎other related risks and uncertainties disclosed under the heading “Risk Factors“ in the Company’s most ‎recent filings filed with securities regulators in Canada on the SEDAR website at www.sedar.com. The ‎Company undertakes no obligation to update forward-looking information except as required by ‎applicable law. Such forward-looking information represents managements’ best judgment based on ‎information currently available. No forward-looking statement can be guaranteed and actual future results ‎may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking ‎statements or information.

    The MIL Network –

  • MIL-OSI Australia: Arrest after stolen vehicle located in Elizabeth Vale

    Source: New South Wales – News

    Man arrested in Elizabeth Vale after fleeing in a stolen car.

    About 12.30am this morning Friday 9 May, police observed a stolen car travelling on Henley Beach Road, Mile End.

    The Honda sedan took off from patrols and was last seen in the back streets of Mile End.

    Police sighted the car a short time later travelling on South Road towards the Port River Expressway.

    With the assistance of PolAir and Dog Operations Unit the car was tracked to Main North Road where it was successfully spiked at the intersection of Park Terrace, Salisbury.

    The car was dumped and three people were seen running from the car into nearby backstreets.

    With the continued assistance of PolAir and Dog Operations PD Arlo located a 22-year-old man from Solomon Town nearby on Chaddenwick Road where he was arrested. He has been charged with unlawful possession and his bail has been refused and he will appear in the Elizabeth Magistrates Court later today.

    Police conducted a search of the area and were unable to locate the following two suspects.

    Police conducted vehicle checks on the Honda which showed that it had been stolen from a Brompton home last month.

    Police ask anyone who may have CCTV or dash cam footage which may assist in the investigation to contact Crime Stoppers on 1800 333 000.

    MIL OSI News –

  • MIL-OSI: Portman Ridge Finance Corporation Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Reports Net Investment Income of $0.47 Per Share and Net Asset Value of $18.85 Per Share

    Deployment of Approximately $17.5 Million and Sales and Repayments of Approximately $15.7 Million for Net Deployment of Approximately $1.8 Million

    Announces Second Quarter 2025 Quarterly Base Distribution of $0.47 Per Share

    Investors are Encouraged to Vote FOR the Acquisition of Logan Ridge Finance Corporation

    NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Highlights

    • Total investment income for the first quarter of 2025 was $12.1 million, down from $14.4 million in the fourth quarter of 2024, due to the reversal of previously accrued income after a portfolio company was placed on non-accrual status in the first quarter of 2025.
    • Core investment income1, excluding the impact of purchase price accounting, for the first quarter of 2025 was $12.1 million, as compared to $14.4 million for the fourth quarter of 2024.
    • Net investment income (“NII”) for the first quarter of 2025 was $4.3 million ($0.47 per share), inclusive of the reversal of $0.4 million ($0.05 per share) of previously accrued interest income on a loan that was placed on non-accrual in the first quarter of 2025, as compared to $5.5 million ($0.60 per share) in the fourth quarter of 2024.
    • Net asset value (“NAV”), as of March 31, 2025, was $173.5 million ($18.85 per share), as compared to NAV of $178.5 million ($19.41 per share) as of December 31, 2024.
    • Deployments of approximately $17.5 million and sales and repayments of approximately $15.7 million, resulting in net deployments of approximately $1.8 million.

    Subsequent Events

    • On May 8, 2025, the Company declared a regular quarterly base distribution of $0.47 per share of common stock. The distribution is payable on May 29, 2025, to stockholders of record at the close of business on May 19, 2025.

    Management Commentary
    Ted Goldthorpe, Chief Executive Officer of Portman Ridge, stated, “During the first quarter we continued to execute on our disciplined investment strategy, deploying approximately $17.5 million into strong, defensively positioned portfolio companies. Concurrently, we had $15.7 million in repayments and sales, resulting in our return to net deployers of capital.

    Looking ahead, the current macroeconomic backdrop shaped by shifting trade dynamics, inflation, and ever-evolving monetary policy, continues to drive uncertainty in the market. These dynamics highlight the importance of taking a long-term approach, grounded in disciplined credit selection and prudent risk management. That said, we view this as an opportunity to further differentiate through thoughtful deployment and rigorous underwriting, backed by our prudent investment strategy and experienced management team. I remain confident in our ability to drive the best outcome for shareholders.

    Finally, we continue to believe in the strategic benefits the combination with Logan Ridge will provide. This merger represents a meaningful step forward for the Company, with the potential to provide increased scale, improved liquidity, and greater operational efficiency, all of which are critical to enhancing long-term shareholder value. We encourage shareholders to vote FOR the proposed merger, as recommended by the Board of Directors of both companies. We are excited about the road ahead and look forward to sharing more updates soon.”

    Selected Financial Highlights

    • Total investment income for the quarter ended March 31, 2025, was $12.1 million, of which $10.3 million was attributable to interest income, inclusive of payment-in-kind income, from the Debt Securities Portfolio. This compares to total investment income of $16.5 million for the quarter ended March 31, 2024, of which $14.2 million was attributable to interest income, inclusive of payment-in-kind income, from the Debt Securities Portfolio.
    • Core investment income for the quarter ended March 31, 2025, excluding the impact of purchase discount accretion, was $12.1 million, as compared to core investment income of $16.5 million for the quarter ended March 31, 2024.
    • Net investment income (“NII”) for the quarter ended March 31, 2025, was $4.3 million ($0.47 per share) as compared to $6.2 million ($0.67 per share) for the quarter ended March 31, 2024.
    • Net asset value (“NAV”) as of March 31, 2025, was $173.5 million ($18.85 per share), as compared to $178.5 million ($19.41 per share) for the fourth quarter of 2024.
    • Deployment during the quarter was strong, with deployments of approximately $17.5 million and sales and repayments of approximately $15.7 million, resulting in net deployment of approximately $1.8 million.
    • Investment portfolio at fair value as of March 31, 2025, was $406.4 million, comprised of 93 different portfolio companies. Our debt investment portfolio, excluding our investments in the CLO Funds, equities and Joint Ventures, totaled $324.8 million at fair value as of March 31, 2025, and was spread across 24 different industries comprised of 72 different portfolio companies with an average par balance per entity of approximately $2.6 million. This compares to a total investment portfolio at fair value as of December 31, 2024, of $405.0 million, comprised of 93 different portfolio companies. Our debt investment portfolio, excluding our investments in the CLO Funds, equities and Joint Ventures, totaled $320.7 million at fair value as of December 31, 2024, spread across 26 different industries and comprised of 71 different portfolio companies, with an average par balance per entity of approximately $2.5 million.
    • Debt investments on non-accrual, as of March 31, 2025, were six, representing 2.6% and 4.7% of the Company’s investment portfolio at fair value and amortized cost, respectively. This compares to six debt investments representing 1.7% and 3.4% of the Company’s investment portfolio at fair value and amortized cost, respectively, as of December 31, 2024.
    • Weighted average annualized yield was approximately 11.0% (excluding income from non-accruals and collateralized loan obligations) as of March 31, 2025.
    • Par value of outstanding borrowings, as of March 31, 2025, was $255.4 million, as compared to $267.5 million as of December 31, 2024, with an asset coverage ratio of total assets to total borrowings of 168% and 167%, respectively. On a net basis, leverage as of March 31, 2025, was 1.3x2 compared to 1.3x2 as of December 31, 2024.

    Results of Operations

    Operating results for the three months ended March 31, 2025, and March 31, 2024, were as follows:

      For the Three Months Ended March 31,  
    ($ in thousands, except share and per share amounts) 2025       2024  
    Total investment income $ 12,118     $ 16,526  
    Total expenses   7,778       10,300  
    Net Investment Income   4,340       6,226  
    Net realized gain (loss) on investments   (173 )     (2,057 )
    Net change in unrealized gain (loss) on investments   (3,903 )     71  
    Tax (provision) benefit on realized and unrealized gains (losses) on investments   (346 )     459  
    Net realized and unrealized appreciation (depreciation) on investments, net of taxes   (4,422 )     (1,527 )
    Net realized gain (loss) on extinguishment of debt   —       (213 )
    Net Increase (Decrease) in Net Assets Resulting from Operations $ (82 )   $ 4,486  
    Net Increase (Decrease) In Net Assets Resulting from Operations per Common Share:            
    Basic and Diluted: $ (0.01 )   $ 0.48  
    Net Investment Income Per Common Share:            
    Basic and Diluted: $ 0.47     $ 0.67  
    Weighted Average Shares of Common Stock Outstanding — Basic and Diluted   9,198,223       9,344,994  
                   

    Investment Income
    The composition of our investment income for the three months ended March 31, 2025, and March 31, 2024, was as follows:

      For the Three Months Ended March 31,  
    ($ in thousands) 2025     2024  
    Interest income, excluding CLO income and purchase discount accretion $ 7,522     $ 12,088  
    Purchase discount accretion   16       73  
    PIK income   3,061       2,006  
    CLO income   78       555  
    JV income   1,417       1,653  
    Fees and other income   24       151  
    Investment Income $ 12,118     $ 16,526  
    Less: Purchase discount accretion $ (16 )   $ (73 )
    Core Investment Income $ 12,102     $ 16,453  
     

    Fair Value of Investments

    The composition of our investment portfolio as of March 31, 2025, and December 31, 2024, at cost and fair value was as follows:

    ($ in thousands) March 31, 2025     December 31, 2024  
    Security Type Cost/Amortized
    Cost    		     Fair Value     Fair Value Percentage of Total Portfolio     Cost/Amortized
    Cost    		     Fair Value     Fair Value Percentage of Total Portfolio  
    First Lien Debt $ 318,953     $ 294,379       72.4 %   $ 311,673     $ 289,957       71.6 %
    Second Lien Debt   35,147       28,724       7.1 %     34,892       28,996       7.2 %
    Subordinated Debt   8,034       1,740       0.4 %     8,059       1,740       0.4 %
    Collateralized Loan Obligations   3,800       4,639       1.1 %     5,318       5,193       1.3 %
    Joint Ventures   65,883       50,491       12.4 %     66,747       54,153       13.4 %
    Equity   32,098       26,218       6.5 %     31,921       24,762       6.1 %
    Asset Manager Affiliates(1)   17,791       —       —       17,791       —       —  
    Derivatives   31       232       0.1 %     31       220       —  
    Total $ 481,737     $ 406,423       100.0 %   $ 476,432     $ 405,021       100.0 %

    (1) Represents the equity investment in the Asset Manager Affiliates.

    Liquidity and Capital Resources
    As of March 31, 2025, the Company had $255.4 million (par value) of outstanding borrowings at a current weighted average interest rate of 5.9%, of which $108.0 million par value had a fixed rate of 4.875% (Notes due 2026), and $147.4 million par value had a floating rate under the JPM Credit Facility.

    As of March 31, 2025, and December 31, 2024, the fair value of investments and cash were as follows:

    ($ in thousands)    
    Security Type March 31, 2025     December 31, 2024  
    Cash and Cash Equivalents $ 9,233     $ 17,532  
    Restricted Cash   14,278       22,421  
    First Lien Debt   294,379       289,957  
    Second Lien Debt   28,724       28,996  
    Subordinated Debt   1,740       1,740  
    Equity   26,218       24,762  
    Collateralized Loan Obligations   4,639       5,193  
    Asset Manager Affiliates   —       —  
    Joint Ventures   50,491       54,153  
    Derivatives   232       220  
    Total $ 429,934     $ 444,974  
     

    As of March 31, 2025, the Company had unrestricted cash of $9.2 million and restricted cash of $14.3 million. This compares to unrestricted cash of $17.5 million and restricted cash of $22.4 million as of December 31, 2024. As of March 31, 2025, the Company had $52.6 million of available borrowing capacity under the JPM Credit Facility.

    Interest Rate Risk
    The Company’s investment income is affected by fluctuations in various interest rates, including SOFR and prime rates.

    As of March 31, 2025, approximately 88.5% of our Debt Securities Portfolio at par value were either floating rate with a spread to an interest rate index such as SOFR or the PRIME rate. 84.2% of these floating rate loans contain floors ranging between 0.50% and 5.25%. We generally expect that future portfolio investments will predominately be floating rate investments.

    In periods of rising or lowering interest rates, the cost of the portion of debt associated with the 4.875% Notes Due 2026 would remain the same, given that this debt is at a fixed rate, while the interest rate on borrowings under the JPM Credit Facility would fluctuate with changes in interest rates.

    Generally, the Company would expect that an increase in the base rate index for floating rate investment assets would increase gross investment income and a decrease in the base rate index for such assets would decrease gross investment income (in either case, such increase/decrease may be limited by interest rate floors/minimums for certain investment assets).

      Impact on net investment income from
    a change in interest rates at:
    ($ in thousands) 1%     2%     3%  
    Increase in interest rate $ 1,619     $ 3,289     $ 4,959  
    Decrease in interest rate $ (1,613 )   $ (3,222 )   $ (4,655 )
                           

    Conference Call and Webcast
    We will hold a conference call on Friday, May 9, 2025, at 10:00 am Eastern Time to discuss our first quarter 2025 financial results. To access the call, stockholders, prospective stockholders and analysts should dial (646) 307-1963 approximately 10 minutes prior to the start of the conference call and use the conference ID 9782758.

    A replay of this conference call will be available shortly after the live call through May 16, 2025.

    A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis on the Company’s website www.portmanridge.com in the Investor Relations section under Events and Presentations. The webcast can also be accessed by clicking the following link: https://edge.media-server.com/mmc/p/ovseyk3q. The online archive of the webcast will be available on the Company’s website shortly after the call.

    About Portman Ridge Finance Corporation
    Portman Ridge Finance Corporation (Nasdaq: PTMN) is a publicly traded, externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Portman Ridge’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. Portman Ridge’s investment activities are managed by its investment adviser, Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors L.P.

    Portman Ridge’s filings with the Securities and Exchange Commission (the “SEC”), earnings releases, press releases and other financial, operational and governance information are available on the Company’s website at www.portmanridge.com.

    About BC Partners Advisors L.P. and BC Partners Credit
    BC Partners is a leading international investment firm in private equity, private credit and real estate strategies. Established in 1986, BC Partners has played an active role in developing the European buyout market for three decades.

    Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe. For more information, please visit https://www.bcpartners.com/.

    BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment and across sectors, leveraging the deal sourcing and infrastructure made available from BC Partners.

    Cautionary Statement Regarding Forward-Looking Statements
    This press release contains forward-looking statements. The matters discussed in this press release, as well as in future oral and written statements by management of Portman Ridge Finance Corporation, that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements.

    Forward-looking statements relate to future events or our future financial performance and include, but are not limited to, projected financial performance, expected development of the business, plans and expectations about future investments and the future liquidity of the Company. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “outlook”, “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.

    Important assumptions include our ability to originate new investments, and achieve certain margins and levels of profitability, the availability of additional capital, and the ability to maintain certain debt to asset ratios. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this press release should not be regarded as a representation that such plans, estimates, expectations or objectives will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) uncertainty of the expected financial performance of the Company; (2) expected synergies and savings associated with merger transactions effectuated by the Company; (3) the ability of the Company and/or its adviser to implement its business strategy; (4) evolving legal, regulatory and tax regimes; (5) changes in general economic and/or industry specific conditions, including but not limited to the impact of inflation; (6) the impact of increased competition; (7) business prospects and the prospects of the Company’s portfolio companies; (8) contractual arrangements with third parties; (9) any future financings by the Company; (10) the ability of Sierra Crest Investment Management LLC to attract and retain highly talented professionals; (11) the Company’s ability to fund any unfunded commitments; (12) any future distributions by the Company; (13) changes in regional or national economic conditions and their impact on the industries in which we invest; (14) other changes in the conditions of the industries in which we invest and other factors enumerated in our filings with the SEC; (15) the successful completion of the proposed merger with Logan Ridge Finance Corporation (“LRFC”) and receipt of stockholder approval from the Company’s and LRFC’s stockholders; and (16) expectations concerning the proposed merger with LRFC, including the financial results of the combined company. The forward-looking statements should be read in conjunction with the risks and uncertainties discussed in the Company’s filings with the SEC, including the Company’s most recent Form 10-K and other SEC filings. We do not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required to be reported under the rules and regulations of the SEC. Although the Company and LRFC undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that the Company and LRFC in the future may file with the SEC, including the Registration Statement and Joint Proxy Statement (in each case, as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

    Additional Information and Where to Find It
    This document relates to the proposed merger of the Company and LRFC and certain related matters (the “Proposals”). In connection with the Proposals, the Company has filed a registration statement (Registration No. 333-285230) with the SEC (the “Registration Statement”) that contains a combined joint proxy statement for the Company and LRFC and a prospectus of the Company (the “Joint Proxy Statement”) and will mail the Joint Proxy Statement to its and LRFC’s respective shareholders. The Registration Statement and Joint Proxy Statement will contain important information about the Company, LRFC and the Proposals. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. SHAREHOLDERS OF THE COMPANY AND LRFC ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, LRFC AND THE PROPOSALS. Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov or, for documents filed by the Company, from the Company’s website at https://www.portmanridge.com, and, for documents filed by LRFC, from LRFC’s website at https://www.loganridgefinance.com.

    Participants in the Solicitation
    the Company, its directors, certain of its executive officers and certain employees and officers of Sierra Crest Investment Management LLC and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of the Company is set forth in its proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2025. LRFC, its directors, certain of its executive officers and certain employees and officers of Mount Logan Management LLC, and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of LRFC is set forth in the Annual Report on Form 10-K/A, which was filed with the SEC on April 29, 2025. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Company and LRFC shareholders in connection with the Proposals will be contained in the Registration Statement, including the Joint Proxy Statement included therein, and other relevant materials when such documents become available. These documents may be obtained free of charge from the sources indicated above.

    No Offer or Solicitation
    This document is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this document is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in the Company, LRFC or in any fund or other investment vehicle managed by BC Partners or any of its affiliates.

    Contacts:
    Portman Ridge Finance Corporation

    650 Madison Avenue, 3rd floor
    New York, NY 10022
    info@portmanridge.com

    Brandon Satoren
    Chief Financial Officer
    Brandon.Satoren@bcpartners.com
    (212) 891-2880

    The Equity Group Inc.
    Lena Cati
    lcati@equityny.com
    (212) 836-9611

    Val Ferraro
    vferraro@equityny.com
    (212) 836-9633

    PORTMAN RIDGE FINANCE CORPORATION
    CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
    (in thousands, except share and per share amounts)

      March 31, 2025     December 31, 2024  
      (Unaudited)        
    ASSETS          
    Investments at fair value:          
    Non-controlled/non-affiliated investments (amortized cost of $365,539 and $358,153, respectively) $ 333,519     $ 327,622  
    Non-controlled affiliated investments (amortized cost of $67,137 and $68,858, respectively)   61,523       64,384  
    Controlled affiliated investments (amortized cost of $49,061 and $49,421, respectively)   11,381       13,015  
    Total Investments at fair value (amortized cost of $481,737 and $476,432, respectively) $ 406,423     $ 405,021  
    Cash and cash equivalents   9,233       17,532  
    Restricted cash   14,278       22,421  
    Interest receivable   4,787       6,088  
    Dividend receivable   1,247       1,367  
    Other assets   2,812       1,205  
    Total Assets $ 438,780     $ 453,634  
    LIABILITIES          
    4.875% Notes Due 2026 (net of deferred financing costs and original issue discount of $832 and $1,017, respectively) $ 107,168     $ 106,983  
    Great Lakes Portman Ridge Funding LLC Revolving Credit Facility (net of deferred financing costs of $1,198 and $1,322, respectively)   146,181       158,157  
    Accounts payable, accrued expenses and other liabilities   4,900       3,007  
    Accrued interest payable   4,634       3,646  
    Due to affiliates   —       635  
    Management and incentive fees payable   2,386       2,713  
    Total Liabilities $ 265,269     $ 275,141  
    COMMITMENTS AND CONTINGENCIES          
    NET ASSETS          
    Common stock, par value $0.01 per share, 20,000,000 common shares authorized; 9,965,480 issued, and 9,202,870 outstanding at March 31, 2025, and 9,960,785 issued, and 9,198,175 outstanding at December 31, 2024 $ 92     $ 92  
    Capital in excess of par value   714,398       714,331  
    Total distributable (loss) earnings   (540,979 )     (535,930 )
    Total Net Assets $ 173,511     $ 178,493  
    Total Liabilities and Net Assets $ 438,780     $ 453,634  
    Net Asset Value Per Common Share $ 18.85     $ 19.41  
    PORTMAN RIDGE FINANCE CORPORATION
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share amounts)
     
      For the Three Months Ended March 31,  
      2025     2024  
    INVESTMENT INCOME          
    Interest income:          
    Non-controlled/non-affiliated investments $ 7,300     $ 12,621  
    Non-controlled affiliated investments   316       95  
    Total interest income   7,616       12,716  
    Payment-in-kind income:          
    Non-controlled/non-affiliated investments(1)   2,853       1,894  
    Non-controlled affiliated investments   208       112  
    Total payment-in-kind income   3,061       2,006  
    Dividend income:          
    Non-controlled affiliated investments   1,417       1,653  
    Total dividend income   1,417       1,653  
    Fees and other income:          
    Non-controlled/non-affiliated investments   24       151  
    Total fees and other income   24       151  
    Total investment income   12,118       16,526  
    EXPENSES          
    Management fees   1,466       1,729  
    Performance-based incentive fees   920       1,234  
    Interest and amortization of debt issuance costs   4,298       5,725  
    Professional fees   452       604  
    Administrative services expense   411       356  
    Directors’ expense   144       162  
    Other general and administrative expenses   87       490  
    Total expenses   7,778       10,300  
    NET INVESTMENT INCOME   4,340       6,226  
    REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS          
    Net realized gains (losses) from investment transactions:          
    Non-controlled/non-affiliated investments   (81 )     (1,641 )
    Non-controlled affiliated investments   (92 )     —  
    Controlled affiliated investments   —       (416 )
    Net realized gain (loss) on investments   (173 )     (2,057 )
    Net change in unrealized appreciation (depreciation) on:          
    Non-controlled/non-affiliated investments   (1,501 )     (659 )
    Non-controlled affiliated investments   (1,140 )     140  
    Controlled affiliated investments   (1,274 )     590  
    Derivatives   12       —  
    Net change in unrealized gain (loss) on investments   (3,903 )     71  
    Tax (provision) benefit on realized and unrealized gains (losses) on investments   (346 )     459  
    Net realized and unrealized appreciation (depreciation) on investments, net of taxes   (4,422 )     (1,527 )
    Net realized gain (loss) on extinguishment of debt   —       (213 )
    NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ (82 )   $ 4,486  
    Net Increase (Decrease) In Net Assets Resulting from Operations per Common Share:          
    Basic and Diluted: $ (0.01 )   $ 0.48  
    Net Investment Income Per Common Share:          
    Basic and Diluted: $ 0.47     $ 0.67  
    Weighted Average Shares of Common Stock Outstanding — Basic and Diluted   9,198,223       9,344,994  

    (1) During the three months ended March 31, 2025, and 2024, the Company received $0.2 million and $0.1 million, respectively, of non-recurring fee income that was paid in-kind and included in this financial statement line item.

    __________________________________

    1 Core investment income represents reported total investment income as determined in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, less the impact of purchase discount accretion in connection with the Garrison Capital Inc. (“GARS”) and Harvest Capital Credit Corporation (“HCAP”) mergers. Portman Ridge believes presenting core investment income and the related per share amount is useful and appropriate supplemental disclosure for analyzing its financial performance due to the unique circumstance giving rise to the purchase accounting adjustment. However, core investment income is a non-U.S. GAAP measure and should not be considered as a replacement for total investment income and other earnings measures presented in accordance with U.S. GAAP. Instead, core investment income should be reviewed only in connection with such U.S. GAAP measures in analyzing Portman Ridge’s financial performance.
    2 Net leverage is calculated as the ratio between (A) debt, excluding unamortized debt issuance costs, less available cash and cash equivalents, and restricted cash and (B) NAV. Portman Ridge believes presenting a net leverage ratio is useful and appropriate supplemental disclosure because it reflects the Company’s financial condition net of $23.5 million and $40.0 million of cash and cash equivalents and restricted cash as of March 31, 2025, and December 31, 2024, respectively. However, the net leverage ratio is a non-U.S. GAAP measure and should not be considered as a replacement for the regulatory asset coverage ratio and other similar information presented in accordance with U.S. GAAP. Instead, the net leverage ratio should be reviewed only in connection with such U.S. GAAP measures in analyzing Portman Ridge’s financial condition.

    The MIL Network –

  • MIL-OSI: ECN Capital Reports US$0.03 in Adjusted Net Income per Common Share in Q1-2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 08, 2025 (GLOBE NEWSWIRE) — ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) today reported financial results for the three-month period ended March 31, 2025.

    For the three-month period ended March 31, 2025, ECN Capital reported Adjusted net income (loss) applicable to common shareholders of $7.2 million or $0.03 per share (basic) versus $4.4 million or $0.02 per share (basic) for the previous three-month period and ($0.3) million or $0.00 per share (basic) for the prior year comparable period.

    “Our strong Q1 results, with adjusted net income at the top end of guidance, highlight ECN’s strength and resilience, even in the face of market volatility,” said Steven Hudson, CEO of ECN Capital Corp.

    Originations for the three-month period ended March 31, 2025 were $538.2 million, versus $547.6 million in the previous three-month period and $468.4 million for the prior year comparable period. Originations for the three-month period ended March 31, 2025 include $332.8 million of originations from our Manufactured Housing Finance segment and $205.4 million of originations from our Recreational Vehicle and Marine Finance segment.          

    Managed Assets as at March 31, 2025 were $7.2 billion versus $6.9 billion as at December 31, 2024 and $5.2 billion as at March 31, 2024.

    Adjusted EBITDA for the three-month period ended March 31, 2025 was $25.5 million versus $24.1 million for the previous three-month period and $21.8 million for the prior year comparable period.

    Operating Expenses for the three-month period ended March 31, 2025 were $29.4 million versus $31.2 million for the previous three-month period and $27.8 million for the prior year comparable period.

    Net loss attributable to common shareholders for the three-month period ended March 31, 2025 was ($2.5) million versus ($3.9) million for the previous three-month period and ($8.5) million for the prior year comparable period.

    Dividends Declared

    The Company’s Board of Directors has authorized and declared a quarterly dividend of C$0.01 per outstanding common share to be paid on June 30, 2025 to shareholders of record at the close of business on June 13, 2025. These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).

    The Company’s Board of Directors has authorized and declared a quarterly dividend of C$0.4960625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C (TSX: ECN.PR.C) to be paid on June 30, 2025 to shareholders of record on the close of business on June 13, 2025. These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).

    The Company’s Board of Directors has authorized and declared a semi-annual dividend of C$0.0603 per outstanding Mandatory Convertible Preferred Share, Series E to be paid on June 30, 2025 to shareholders of record on the close of business on June 13, 2025. These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).

    Webcast

    The Company will host an analyst briefing to discuss these results commencing at 5:30 PM (ET) on Thursday, May 8, 2025. The call can be accessed as follows:

    A telephone replay of the conference call may also be accessed until June 8, 2025, by dialing 1-800-645-7964 and entering the passcode 5036#.

    Non-IFRS Measures

    The Company’s interim unaudited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and the accounting policies we adopted in accordance with IFRS.

    The Company believes that certain Non-IFRS Measures can be useful to investors because they provide a means by which investors can evaluate the Company’s underlying key drivers and operating performance of the business, exclusive of certain adjustments and activities that investors may consider to be unrelated to the underlying economic performance of the business of a given period. Throughout this news release, management uses a number of terms and ratios which do not have a standardized meaning under IFRS and are unlikely to be comparable to similar measures presented by other organizations, including adjusted EBITDA, adjusted net income, adjusted net income per common share and managed assets. A full description of these measures, along with a reconciliation to the most directly comparable IFRS measure, where applicable, can be found in the Management Discussion & Analysis (“MD&A”) that accompanies ECN Capital’s financial statements for the three-month period ended March 31, 2025.

    ECN Capital’s MD&A for the three-month period ended March 31, 2025 has been filed on SEDAR+ (www.sedarplus.com) and is available under the investor section of the Company’s website (www.ecncapitalcorp.com).

    About ECN Capital Corp.

    With managed assets of US$7.2 billion, ECN Capital Corp. (TSX: ECN) is a leading provider of business services to North American-based institutional investor, insurance company, pension plan, bank and credit union partners (collectively, its “Partners”). ECN Capital originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (floorplan and rental) loans. Its Partners are seeking high-quality assets to match with their deposits, term insurance or other liabilities. These services are offered through two operating segments: (i) Manufactured Housing Finance, and (ii) Recreational Vehicle and Marine Finance.

    Contact

    Forward-looking Statements

    This news release includes forward-looking statements regarding ECN Capital and its business. Such statements are based on the current expectations and views of future events of ECN Capital’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Forward-looking statements in this news release include those relating to the future financial and operating performance of ECN Capital, the strategic advantages, business plans and future opportunities of ECN Capital and the ability of ECN Capital to access adequate funding sources, identify and execute on acquisition opportunities and transition to an asset management business. The forward-looking events and circumstances discussed in this news release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with this outlook can be found in ECN Capital’s MD&A for the three-month period ended March 31, 2025 and ECN Capital’s 2024 Annual Information Form dated February 27, 2025 for the year ended December 31, 2024 which have been filed on SEDAR+ and can be accessed at www.sedarplus.com. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Logan Ridge Finance Corporation Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

     Reports Solid First Quarter Results with Net Investment Income of $0.35 Per Share and a Net Asset Value of $29.66 Per Share

    Declared a Distribution of $0.36 Per Share for the Second Quarter of 2025

    Successfully Exited its Equity Investment in GA Communications, Inc., Further Reducing the Company’s Non-Yielding Equity Portfolio

    Investors are Encouraged to Vote FOR the Merger with Portman Ridge Finance Corporation (“PTMN”)

    NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) — Logan Ridge Finance Corporation (“Logan Ridge”, “LRFC”, the “Company”, “we”, “us” or “our”) (Nasdaq: LRFC) announced today its financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Highlights

    • Total investment income was $4.6 million for the quarter ended March 31, 2025, as compared to $5.4 million reported for the quarter ended December 31, 2024.
    • Net investment income (“NII”) was $0.9 million, or $0.35 per share, for the quarter ended March 31, 2025, as compared to $1.5 million or $0.56 per share, for the quarter ended December 31, 2024.
    • Net asset value was $29.66 per share as of March 31, 2025, as compared to $32.04 per share as of December 31, 2024.
    • The Company made approximately $15.1 million of investments and had approximately $12.4 million in repayments and sales of investments, resulting in net deployment of approximately $2.7 million during the quarter ended March 31, 2025.

    Subsequent Events

    • On May 7, 2025, the Company’s Board of Directors approved a second quarter distribution of $0.36 per share, payable on May 29, 2025, to stockholders of record as of May 19, 2025.

    Management Commentary
    Ted Goldthorpe, Chief Executive Officer and President of Logan Ridge, said, “Following record results in 2024, Logan Ridge continued to make significant strides in strengthening its portfolio, despite the large write-down on the Company’s legacy term loan to Sequoia Healthcare. Notably, during the quarter, the Company grew its portfolio with net deployment, and as previously announced, Logan Ridge continued rotating out of the legacy equity portfolio with the successful exit of its second largest non-yielding equity investment in GA Communications, Inc. This exit stands as another important achievement in our long-term strategy of rotating out of the legacy equity portfolio, which has now been reduced to just 10.8% of our portfolio at fair value, down from 13.8% as of the prior quarter and 18.2% in the first quarter of 2024.

    Looking forward, with the continued monetization of the legacy equity portfolio, we believe the Company is well-positioned to continue to grow earnings and increase long-term shareholder value as we navigate this dynamic market shaped by renewed uncertainty, increased market volatility, and shifting geopolitical dynamics.

    Finally, we remain excited about the opportunities the proposed combination with Portman Ridge presents. This transaction offers the potential for increased scale, improved liquidity, and enhanced operational efficiencies, all of which would strengthen our ability to deliver greater value to shareholders. The combination of these companies would be a marquee transaction for our BDC franchise and a significant milestone for the BC Partners Credit Platform. We encourage all shareholders to vote FOR the proposed merger, as recommended by the Board of Directors of both companies. We are excited about the road ahead and look forward to sharing more updates at the upcoming Special Meeting of Stockholders.”

    Selected Financial Highlights

    • Total investment income for the quarter ended March 31, 2025, decreased by $0.4 million, to $4.6 million, compared to $5.0 million for the quarter ended March 31, 2024.
    • Total operating expenses for the quarter ended March 31, 2025, decreased by $0.4 million, to $3.7 million, compared to $4.1 million for the quarter ended March 31, 2024.
    • Net investment income for the quarter ended March 31, 2025, was $0.9 million, or $0.35 per share, unchanged from the quarter ended March 31, 2024.
    • Net asset value as of March 31, 2025, was $78.8 million, or $29.66 per share, compared to $85.1 million, or $32.04 per share, as of December 31, 2024.
    • Cash and cash equivalents as of March 31, 2025, were $5.1 million compared to $15.0 million as of December 31, 2024.
    • The investment portfolio as of March 31, 2025, consisted of investments in 59 portfolio companies with an aggregate fair value of approximately $169.6 million. This compares to 59 portfolio companies with an aggregate fair value of approximately $172.3 million as of December 31, 2024.
    • Deployment was judicious and prudent. During the quarter ended March 31, 2025, the Company made approximately $15.1 million in investments and had $12.4 million in repayments and sales of investments, resulting in net deployment of approximately $2.7 million.
    • The debt investment portfolio as of March 31, 2025, represented 86.6% of the fair value of the total portfolio, with a weighted average annualized yield of approximately 10.7% (excluding income from non-accruals and collateralized loan obligations), compared to a debt investment portfolio of approximately 83.3% with a weighted average annualized yield of approximately 10.7% (excluding income from non-accruals and collateralized loan obligations) as of December 31, 2024. As of March 31, 2025, 9.3% of the fair value of the debt investment portfolio was bearing a fixed rate of interest, compared to 12.1% of the fair value of the debt investment portfolio as of December 31, 2024.
    • Non-accruals: As of March 31, 2025, the Company had debt investments in three portfolio companies on non-accrual status with an amortized cost and fair value of $17.2 million and $3.7 million, respectively, representing 8.7% and 2.2% of the investment portfolio’s amortized cost and fair value, respectively. This compares to debt investments in three portfolio companies on non-accrual status with an aggregate amortized cost and fair value of $17.2 million and $7.9 million, respectively, representing 9.0% and 4.6% of the investment portfolio’s amortized cost and fair value, respectively, as of December 31, 2024.
    • Asset coverage ratio as of March 31, 2025, was 179.4%.

    Results of Operations
    Our operating results for the three months ended March 31, 2025 and March 31, 2024, were as follows (dollars in thousands):

          For the Three Months Ended March 31,  
          2025     2024  
    Total investment income     $ 4,631     $ 5,003  
    Total expenses       3,703       4,056  
    Net investment income       928       947  
    Net realized gain (loss) on investments       2,603       287  
    Net change in unrealized appreciation (depreciation) on investments       (8,755 )     675  
    Net realized gain (loss) on extinguishment of debt       (146 )     (58 )
    Net increase (decrease) in net assets resulting from operations     $ (5,370 )   $ 1,851  
                       

    Investment income
    The composition of our investment income for the three months ended March 31, 2025 and March 31, 2024, was as follows (dollars in thousands):

          For the Three Months Ended March 31,  
          2025     2024  
    Interest income     $ 3,906     $ 4,633  
    Payment-in-kind interest       547       353  
    Dividend income       143       17  
    Other income       35       –  
    Total investment income     $ 4,631     $ 5,003  
                       

    Fair Value of Investments
    The composition of our investments as of March 31, 2025 and December 31, 2024, at amortized cost and fair value of investments was as follows (dollars in thousands):

    March 31, 2025   Investments at
    Amortized Cost    		     Amortized Cost
    Percentage of
    Total Portfolio    		     Investments at
    Fair Value    		     Fair Value
    Percentage of
    Total Portfolio    		  
    First Lien Debt   $ 131,479       66.5 %   $ 114,600       67.6 %
    Second Lien Debt     10,834       5.5 %     9,119       5.4 %
    Subordinated Debt     27,060       13.7 %     23,040       13.6 %
    Collateralized Loan Obligations     309       0.2 %     572       0.3 %
    Joint Venture     4,119       2.1 %     3,948       2.3 %
    Equity     23,709       12.0 %     18,334       10.8 %
    Total   $ 197,510       100.0 %   $ 169,613       100.0 %
                                     
    December 31, 2024   Investments at
    Amortized Cost    		     Amortized Cost
    Percentage of
    Total Portfolio    		     Investments at
    Fair Value    		     Fair Value
    Percentage of
    Total Portfolio    		  
    First Lien Debt   $ 123,068       64.4 %   $ 111,460       64.7 %
    Second Lien Debt     10,623       5.5 %     9,051       5.3 %
    Subordinated Debt     26,996       14.1 %     22,858       13.3 %
    Collateralized Loan Obligations     852       0.4 %     940       0.5 %
    Joint Venture     4,170       2.2 %     4,153       2.4 %
    Equity     25,723       13.4 %     23,828       13.8 %
    Total   $ 191,432       100.0 %   $ 172,290       100.0 %
                                     

    Interest Rate Risk
    Based on our consolidated statements of assets and liabilities as of March 31, 2025, the following table shows the annual impact on net income (excluding the potential related incentive fee impact) of base rate changes in interest rates (considering interest rate floors for variable rate securities), assuming no changes in our investment and borrowing structure (dollars in thousands):

    Basis Point Change Increase
    (decrease) in interest income    		     (Increase)
    decrease in
    interest expense    		     Increase
    (decrease) in
    net income    		  
    Up 300 basis points $ 4,200     $ (1,322 )   $ 2,878  
    Up 200 basis points   2,800       (881 )     1,919  
    Up 100 basis points   1,400       (441 )     959  
    Down 100 basis points   (1,400 )     441       (959 )
    Down 200 basis points   (2,744 )     881       (1,863 )
    Down 300 basis points   (3,984 )     1,322       (2,662 )
                           

    Conference Call and Webcast
    We will hold a conference call on Friday, May 9, 2025, at 11:00 a.m. Eastern Time to discuss the first quarter 2025 financial results. Stockholders, prospective stockholders, and analysts are welcome to listen to the call or attend the webcast.

    To access the conference call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the call and use the conference ID 8145997.

    A replay of this conference call will be available shortly after the live call through May 16, 2025.

    A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis on the Company’s website www.loganridgefinance.com in the Investor Resources section under Events and Presentations. The webcast can also be accessed by clicking the following link: https://edge.media-server.com/mmc/p/h9fj5e3y. The online archive of the webcast will be available on the Company’s website shortly after the call.

    About Logan Ridge Finance Corporation
    Logan Ridge Finance Corporation (Nasdaq: LRFC) is a business development company that invests primarily in first lien loans and, to a lesser extent, second lien loans and equity securities issued by lower middle-market companies. The Company invests in performing, well-established middle-market businesses that operate across a wide range of industries. It employs fundamental credit analysis, targeting investments in businesses with relatively low levels of cyclicality and operating risk. For more information, visit www.loganridgefinance.com. 

    About Mount Logan Capital Inc.
    Mount Logan Capital Inc. (“MLC”) is an alternative asset management company that is focused on public and private debt securities in the North American market. MLC seeks to source and actively manage loans and other debt-like securities with credit-oriented characteristics. MLC actively sources, evaluates, underwrites, manages, monitors, and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.

    About BC Partners Advisors L.P. and BC Partners Credit
    BC Partners is a leading international investment firm in private equity, private credit and real estate strategies. Established in 1986, BC Partners has played an active role in developing the European buyout market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe. For more information, please visit www.bcpartners.com.

    BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment and across sectors, leveraging the deal sourcing and infrastructure made available from BC Partners.

    Cautionary Statement Regarding Forward-Looking Statements
    Some of the statements in this communication constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to future operating results of PTMN and LRFC, and distribution projections; business prospects of PTMN and LRFC, and the prospects of their portfolio companies; and the impact of the investments that PTMN and LRFC expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this communication involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the ability of the parties to consummate the merger on the expected timeline, or at all; (ii) the expected synergies and savings associated with the merger; (iii) the ability to realize the anticipated benefits of the merger, including the expected elimination of certain expenses and costs due to the merger; (iv) the percentage of PTMN shareholders and LRFC shareholders voting in favor of the applicable Proposal (as defined below) submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the merger may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the combined company’s plans, expectations, objectives and intentions, as a result of the merger; (ix) any potential termination of the merger agreement; (x) the future operating results and net investment income projections of PTMN, LRFC or, following the closing of the merger, the combined company; (xi) the ability of Sierra Crest Investment Management LLC (“Sierra Crest”) to implement its future plans with respect to the combined company; (xii) the ability of Sierra Crest and its affiliates to attract and retain highly talented professionals; (xiii) the business prospects of PTMN, LRFC or, following the closing of the merger, the combined company, and the prospects of their portfolio companies; (xiv) the impact of the investments that PTMN, LRFC or, following the closing of the merger, the combined company expect to make; (xv) the ability of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company to achieve their objectives; (xvi) the expected financings and investments and additional leverage that PTMN, LRFC or, following the closing of the merger, the combined company may seek to incur in the future; (xvii) the adequacy of the cash resources and working capital of PTMN, LRFC or, following the closing of the merger, the combined company; (xviii) the timing of cash flows, if any, from the operations of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company; (xix) the risk that stockholder litigation in connection with the merger may result in significant costs of defense and liability; and (xx) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities). PTMN and LRFC have based the forward-looking statements included in this document on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although PTMN and LRFC undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that PTMN and LRFC in the future may file with the SEC, including the Registration Statement and Joint Proxy Statement (in each case, as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

    Additional Information and Where to Find It
    This document relates to the proposed merger of PTMN and LRFC and certain related matters (the “Proposals”). In connection with the Proposals, PTMN has filed a registration statement (Registration No. 333-285230) with the SEC (the “Registration Statement”) that contains a combined joint proxy statement for PTMN and LRFC and a prospectus of PTMN (the “Joint Proxy Statement”) and will mail the Joint Proxy Statement to its and LRFC’s respective shareholders. The Registration Statement and Joint Proxy Statement will contain important information about PTMN, LRFC and the Proposals. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. SHAREHOLDERS OF PTMN AND LRFC ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PTMN, LRFC AND THE PROPOSALS. Investors and securityholders will be able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov or, for documents filed by PTMN, from PTMN’s website at https://www.portmanridge.com, and, for documents filed by LRFC, from LRFC’s website at https://www.loganridgefinance.com.

    Participants in the Solicitation
    PTMN, its directors, certain of its executive officers and certain employees and officers of Sierra Crest and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of PTMN is set forth in its proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2025. LRFC, its directors, certain of its executive officers and certain employees and officers of Mount Logan Management LLC, and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of LRFC is set forth in the Annual Report on Form 10-K/A, which was filed with the SEC on April 29, 2025. Information regarding
    the persons who may, under the rules of the SEC, be considered participants in the solicitation of the PTMN and LRFC shareholders in connection with the Proposals will be contained in the Registration Statement, including the Joint Proxy Statement included therein, and other relevant materials when such documents become available. These documents may be obtained free of charge from the sources indicated above.

    No Offer or Solicitation
    This document is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this document is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in PTMN, LRFC or in any fund or other investment vehicle managed by BC Partners or any of its affiliates.

    Contacts:
    Logan Ridge Finance Corporation
    650 Madison Avenue, 3rd Floor
    New York, NY 10022

    Brandon Satoren
    Chief Financial Officer
    Brandon.Satoren@bcpartners.com
    (212) 891-2880

    Lena Cati
    The Equity Group Inc.
    lcati@equityny.com
    (212) 836-9611

    Val Ferraro
    The Equity Group Inc.
    vferraro@equityny.com
    (212) 836-9633

    Logan Ridge Finance Corporation
    Consolidated Statements of Assets and Liabilities
    (in thousands, except share and per share data)
                 
        As of March 31,
    2025    		     As of December 31,
    2024    		  
        (unaudited)        
    ASSETS            
    Investments at fair value:            
    Non-control/non-affiliate investments (amortized cost of $162,447 and $152,393, respectively)   $ 143,121     $ 138,079  
    Affiliate investments (amortized cost of $35,063 and $39,039, respectively)     26,492       34,211  
    Total investments at fair value (amortized cost of $197,510 and $191,432, respectively)     169,613       172,290  
    Cash and cash equivalents     5,073       15,015  
    Interest and dividend receivable     1,572       1,404  
    Prepaid expenses     4,061       2,543  
    Receivable for unsettled trades     —       1,082  
    Other assets     343       335  
    Total assets   $ 180,662     $ 192,669  
    LIABILITIES            
    2026 Notes (net of deferred financing costs and original issue discount of $602 and $694, respectively)   $ 49,398     $ 49,306  
    2032 Convertible Notes (net of deferred financing costs and original issue discount of $283 and $439, respectively)     4,717       7,061  
    KeyBank Credit Facility (net of deferred financing costs of $1,092 and $1,147, respectively)     42,369       47,607  
    Management and incentive fees payable     805       834  
    Interest and financing fees payable     1,541       942  
    Accounts payable and accrued expenses     3,057       1,820  
    Total liabilities   $ 101,887     $ 107,570  
    Commitments and contingencies            
    NET ASSETS            
    Common stock, par value $0.01, 100,000,000 shares of common stock authorized, 2,655,973 and 2,655,898 shares of common stock issued and outstanding, respectively   $ 27     $ 27  
    Capital in excess of par value     188,860       188,858  
    Total distributable loss     (110,112 )     (103,786 )
    Total net assets   $ 78,775     $ 85,099  
    Total liabilities and net assets   $ 180,662     $ 192,669  
    Net asset value per share   $ 29.66     $ 32.04  
                     
    Logan Ridge Finance Corporation
    Consolidated Statements of Operations
    (in thousands, except share and per share data)
           
        For the Three Months Ended March 31,  
        2025     2024  
    INVESTMENT INCOME            
    Interest income:            
    Non-control/non-affiliate investments   $ 3,699     $ 4,633  
    Affiliate investments     207       —  
    Total interest income     3,906       4,633  
    Payment-in-kind interest and dividend income:            
    Non-control/non-affiliate investments     432       336  
    Affiliate investments     115       17  
    Total payment-in-kind interest and dividend income     547       353  
    Dividend income:            
    Affiliate investments     143       17  
    Total dividend income     143       17  
    Other income:            
    Non-control/non-affiliate investments     35       —  
    Total other income     35       —  
    Total investment income     4,631       5,003  
    EXPENSES            
    Interest and financing expenses     1,813       2,007  
    Base management fee     805       893  
    Directors’ expense     116       150  
    Administrative service fees     272       201  
    General and administrative expenses     697       805  
    Total expenses     3,703       4,056  
    NET INVESTMENT INCOME     928       947  
    REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS            
    Net realized gain (loss) on investments:            
    Non-control/non-affiliate investments     70       287  
    Affiliate investments     2,533       —  
    Net realized gain (loss) on investments     2,603       287  
    Net change in unrealized appreciation (depreciation) on investments:            
    Non-control/non-affiliate investments     (5,012 )     (3,904 )
    Affiliate investments     (3,743 )     4,579  
    Net change in unrealized appreciation (depreciation) on investments     (8,755 )     675  
    Total net realized and change in unrealized gain (loss) on investments     (6,152 )     962  
    Net realized loss on extinguishment of debt     (146 )     (58 )
    NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS   $ (5,370 )   $ 1,851  
    NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – BASIC   $ (2.02 )   $ 0.69  
    WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – BASIC     2,655,899       2,678,342  
    NET INCREASE (DECREASE) IN NET ASSETS PER SHARE RESULTING FROM OPERATIONS – DILUTED   $ (2.02 )   $ 0.65  
    WEIGHTED AVERAGE COMMON STOCK OUTSTANDING – DILUTED     2,655,899       3,195,740  
    DISTRIBUTIONS PAID PER SHARE   $ 0.36     $ 0.32  

    The MIL Network –

  • MIL-OSI USA: PREPARED REMARKS: Sanders Confronts Congress’ Silence on Gaza

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders
    WASHINGTON, May 8 – Sen. Bernie Sanders (I-Vt.) today gave remarks on the Senate floor marking 68 days since Israel allowed humanitarian aid into Gaza and calling on the U.S. to end its complicity in the destruction of the Palestinian people.
    Sanders’ remarks, as prepared for delivery, are below and can be watched HERE:  
    M. President, I want to say a few words about an issue that people all over the world are thinking about – are appalled by – but for some strange reason gets very little discussion here in the nation’s capital or in the halls of Congress. And that is the horrific humanitarian disaster that is unfolding in Gaza. 
    Today marks 68 days and counting since ANY humanitarian aid was allowed into Gaza. For more than nine weeks, Israel has blocked all supplies: no food, no water, no medicine, and no fuel. 
    Hundreds of truckloads of lifesaving supplies are waiting to enter Gaza, sitting just across the border, but are denied entry by Israeli authorities. 
    There is no ambiguity here: Netanyahu’s extremist government talks openly about using humanitarian aid as a weapon. Defense Minister Israel Katz said “Israel’s policy is clear: no humanitarian aid will enter Gaza, and blocking this aid is one of the main pressure levers.” 
    M. President, starving children to death as a weapon of war is a clear violation of the Geneva Convention, the Foreign Assistance Act, and basic human decency. Civilized people do not starve children to death. 
    What is going on in Gaza is a war crime, committed openly and in broad daylight, and continuing every single day. 
    M. President, there are 2.2 million people who live in Gaza. Today, these people are trapped. The borders are sealed. And Israel has pushed the population into an ever-smaller area. 
    With Israel having cut off all aid, what we are seeing now is a slow, brutal process of mass starvation and death by the denial of basic necessities. This is methodical, it is intentional, it is the stated policy of the Netanyahu government. 
    Without fuel, there is no ability to pump fresh water, leaving people increasingly desperate, unable to find clean water to drink, wash with, or cook properly. Disease is once again spreading in Gaza. 
    Most of the bakeries in Gaza have now shut down, having run out of fuel and flour. The few remaining community kitchens are also shutting down. Most people are now surviving on scarce canned goods, often a single can of beans or some lentils, shared between a family once a day. 
    The UN reports that more than 2 million people out of a population of 2.2 million face severe food shortages. 
    The starvation hits children hardest. At least 65,000 children now show symptoms of malnutrition, and dozens have already starved to death. 
    Malnutrition rates increased 80 percent in March, the last month for which data is available, after Netanyahu began the siege, but the situation has severely deteriorated since then. 
    UNICEF reported yesterday that “the situation is getting worse every day,” and that they are treating about 10,000 children for severe malnutrition. 
    Without adequate nutrition or access to clean water, many children will die of easily preventable diseases, killed by something as simple as diarrhea. 
    For the tens of thousands of injured people in Gaza, particularly the countless burn victims from Israeli bombing, their wounds cannot heal without adequate food and clean water. Left to fester, infections will kill many who should have survived. 
    With no infant formula, and with malnourished mothers unable to breastfeed, many infants are also at severe risk of death. Those that survive will bear the scars of their suffering for the rest of their lives. 
    And with little medicine available, easily treatable illnesses and chronic diseases like diabetes or heart disease can be a death sentence in Gaza. 
    M. President, what is going on there is not some terrible earthquake, it is not a hurricane, it is not a storm. What is going on in Gaza today is a manmade nightmare. And nothing can justify this. 
    What is happening in Gaza will be a permanent stain on the world’s collective conscience. History will never forget that we allowed this to happen and, for us here in the United States, that we, in fact, enabled this atrocity. 
    There is no doubt that Hamas, a terrorist organization, began this terrible war with its barbaric October 7, 2023, attack on Israel, which killed 1,200 innocent people and took 250 hostages. 
    The International Criminal Court was right to indict Yahya Sinwar and other leaders of Hamas as war criminals for those atrocities. 
    Clearly, Israel had the right to defend itself against Hamas. 
    But Netanyahu’s extremist government has not just waged war against Hamas. Instead, they have waged an all-out barbaric war of annihilation against the Palestinian people. 
    They have intentionally made life unlivable in Gaza.
    Israel, up to now, has killed more than 52,000 people and injured more than 118,000 – 60 percent of whom are women, children, and the elderly. More than 15,000 children have been killed. 
    M. President, Israel’s indiscriminate bombardment has damaged or destroyed two-thirds of all structures in Gaza, including 92 percent of the housing units. Most of the population now is living in tents or other makeshift structures. 
    M. President, the health care system in Gaza has been essentially destroyed. Most of the territory’s hospitals and primary health care facilities have been bombed. 
    Gaza’s civilian infrastructure has been totally devastated, including almost 90 percent of water and sanitation facilities. Most of the roads have been destroyed. 
    Gaza’s education system has been obliterated. Hundreds of schools have been bombed, as has every single one of Gaza’s 12 universities. 
    And there has been no electricity in Gaza for 18 months. 
    M. President, given this reality, nobody should have any doubts that Netanyahu is a war criminal. Just like his counterparts in Hamas, he has a massive amount of innocent blood on his hands.
    And now Netanyahu and his extremist ministers have a new plan: to indefinitely reoccupy all of Gaza, flatten the few buildings that are still standing, and force the entire population of 2.2 million people into a single tiny area, where hired U.S. security contractors will distribute rations to the survivors. 
    Israeli officials are quite open about the goal here: to force Palestinians to leave for other countries “in line with President Trump’s vision for Gaza,” as one Israeli official said this week. 
    Israeli Finance Minister Smotrich said this week that “Gaza will be entirely destroyed,” and that its population will “leave in great numbers.” 
    For many in Netanyahu’s extremist government, this has been the plan all along: it’s called ethnic cleansing. 
    This would be a terrible tragedy, no matter where or why it was happening. But what makes this tragedy so much worse for us in America is that it is our government, the United States government, that is absolutely complicit in creating and sustaining this humanitarian disaster. 
    Last year alone, the United States provided $18 billion in military aid to Israel. This year, the Trump administration has approved $12 billion more in bombs and weapons. 
    And for months, Trump has offered blanket support for Netanyahu. More than that, he has repeatedly said that the United States will actually take over Gaza after the war, that the Palestinians will be pushed out, and that the U.S. will redevelop it into what Trump calls “the Riviera of the Middle East,” a playground for billionaires. 
    M. President, this war has killed or injured more than 170,000 people in Gaza. It has cost American taxpayers well over $20 billion in the last year. And right now, as we speak, thousands of children are starving to death. And the U.S. president is actively encouraging the ethnic cleansing of over 2 million people. 
    Given that reality, one might think that there would be a vigorous discussion right here in the Senate: do we really want to spend billions of taxpayer dollars starving children in Gaza. You tell me why spending billions of dollars to support Netanyahu’s war and starving children in Gaza is a good idea. I’d love to hear it. 
    But, M. President, we are not having that debate. And let me suggest to you why I think we are not having that debate.  
    That is because we have a corrupt campaign finance system that allows AIPAC to set the agenda here in Washington. 
    In the last election cycle, AIPAC’s PAC and Super PAC spent nearly $127 million combined.
    And the fact is that, if you are a member of Congress and you vote against Netanyahu’s war in Gaza, AIPAC is there to punish you with millions of dollars in advertisements to see that you’re defeated. 
    One might think that in a democracy there would be a vigorous debate on an issue of such consequence. But because of our corrupt campaign finance system, people are literally afraid to stand up. If they do, suddenly you will have all kinds of ads coming in to your district to defeat you.
    Sadly, I must confess, that this political corruption works. Many of my colleagues will privately express their horror at Netanyahu’s war crimes, but will do or say very little publicly about it. 
    M. President, history will not forgive our complicity in this nightmare. The time is long overdue for us to end our support for Netanyahu’s destruction of the Palestinian people. We must not put another nickel into Netanyahu’s war machine. We must demand an immediate ceasefire, a surge in humanitarian aid, the release of the hostages, and the rebuilding of Gaza – not for billionaires to enjoy their Riviera there – but rebuilding Gaza for the Palestinian people.

    MIL OSI USA News –

  • MIL-OSI USA: Reed Rebukes Trump’s Misuse of Military in Immigration Enforcement

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC – Over the past three months, the Trump Administration has surged military personnel to the Southwest Border, Guantanamo Bay, and the U.S. southern coasts. The Administration has spent nearly $500 billion and engaged tens of thousands of troops, Navy warships, armored combat vehicles, and military aircraft in its immigration enforcement operation.

    On Thursday, U.S. Senator Jack Reed (D-RI), Ranking Member of the Senate Armed Services Committee, spoke on the Senate floor to address the unprecedented and likely illegal use of the U.S. military in domestic law enforcement. 

    A video of Senator Reed’s remarks may be viewed here.

    A copy of Senator Reed’s letter to the Department of Defense Office of Inspector General may be viewed here.

    A transcript of Senator Reed’s floor speech follows:

    REED:  Mr. President, I rise to address President Trump’s dangerous and inappropriate use of the U.S. military to carry out his immigration enforcement campaign. 

    Before I discuss the Trump Administration spending nearly half a billion dollars and sending tens of thousands of troops, ships, combat vehicles, and aircraft away from their real missions, I want to make clear that border security is a priority.  I do not support open borders.  And I believe that those who enter the United States and break our laws should be subject to deportation in accordance with the law and due process.  I have voted time and time again for billions of dollars of increased support for border agents, detection technology, and physical barriers where it makes sense. 

    Mr. President, it is no secret that our borders have been under pressure for more than a decade because of a broken immigration system that Congressional Republicans have consistently refused to help fix.  We have considered bipartisan immigration reform bills in 2006, in 2007, in 2013, and in 2024, all of which were shut down by Republicans.  The mess that we have today rests largely on their decision to put political advantage above real progress.

    Now, President Trump is ignoring Congress, ignoring the law, ignoring the Courts, and ignoring the Constitution in order to implement an immigration policy that fails to respect due process, adversely impacts our innovation economy, and to the point of my remarks, degrades our military.  In the name of his anti-immigrant efforts, President Trump is using the U.S. military to conduct operations on American soil that it has neither the training or authority to carry out.  Our troops, who are already stretched thin for time and resources, are now burning time, assets, morale, and readiness for these overblown operations.

    The President has declared an emergency at the border to justify using the military for civilian law enforcement.  This, despite border encounters currently at the lowest level since August of 2020.  Over the past 12 months, since President Biden’s executive actions last June, there has been a continued, significant decrease in unlawful border crossings – including a?more than 60 percent decrease in encounters?from May 2024 to December 2024. 

    In short, all along the Southern Border we have seen a dramatic drop in illegal crossings and migrant encounters, well before President Trump took office.  A national emergency?  It seems not. 

    We already have an entire federal agency to protect our borders and address illegal immigration: the Department of Homeland Security.  DHS includes Customs and Border Protection, Immigration and Customs Enforcement, and other law enforcement groups.  I have voted consistently to give these agencies additional resources to carry out their missions.  But immigration enforcement is not, and must not become, a function of the Department of Defense. 

    Our military has long provided technical and logistical support to DHS at the border, but always and exclusively in a supporting role, drawing a clear line between military law enforcement authorities.  Indeed, since the Reconstruction Era, U.S. presidents have been prohibited from using the military in civilian law enforcement by a law known as the Posse Comitatus Act.  This law has kept the commander-in-chief from wielding the military as a domestic political weapon, and it continues to provide an important check on the President’s ability to use the military domestically against American citizens.

    I understand American citizens asking if it matters which Department enforces immigration, as long as the job gets done.  Well, there are plenty of reasons to be concerned by the President’s current approach, even if one agrees with him politically.

    Most alarmingly, President Trump is taking real steps to militarize immigration enforcement.  Once he uses the military for this reason, it will be easier for him to use it for other purposes.  And given the tenor of his public statements, it is a reasonable fear that he may someday order the use of the armed forces in American cities and against American citizens.

    Indeed, the Brennan Center – a law and public policy institution – recently analyzed President Trump’s military actions at the border and concluded, quote: “Using the military for border enforcement is a slippery slope.  If soldiers are allowed to take on domestic policing roles at the border, it may become easier to justify uses of the military in the U.S. interior in the future.  Our nation’s founders warned against the dangers of an army turned inward, which can all too easily be turned into an instrument of tyranny.”

    Beyond these concerns, there are real, immediate consequences for our troops, which we are seeing right now.

    Readiness

    One of the military’s top priorities is readiness.  America faces real, growing threats from China, Russia, Iran, and other adversaries, and the Department of Defense needs to be laser focused on preparing troops to defend our interests abroad.

    It is difficult to explain the border missions as anything but a distraction from readiness.  We should acknowledge the jobs that our troops are actually doing there.  In the past, up to 2,000 National Guard and Reserve troops would rotate to the border each year to assist DHS and Customs and Border Patrol with basic monitoring, logistics, and warehousing activities.  These missions were designed to be “behind the scenes” logistical support to free up Border Patrol agents from administrative duties and return them back to the field to conduct their core mission of immigration enforcement.

    Today, however, Trump has surged more than 12,000 active-duty troops to the border to carry out a variety of expanded missions that do not look anything like “behind the scenes” administrative support.  For example, one Marine battalion has been stringing miles and miles of barbed wire across the California mountains.  Multiple Army infantry companies are patrolling the Rio Grande riverbank on foot, rifles loaded.  Navy aircrews are flying P-8 Poseidons – the most advanced submarine hunting planes in the world – over the desert.  Two Navy destroyers are loitering off our East and West Coasts, looking for migrant boats in the water.  And at least one Army transportation unit is changing the oil and tires on Border Patrol trucks all day, every day. 

    In addition, the Administration has wasted massive amounts of defense dollars by flying migrants out of the country using military aircraft.  Often, they have had to return them to the United States mainland just days later.  According to U.S. Transportation Command, it costs at least $20,000 per flight hour to use a C-130 and $28,500 per flight hour to use a C-17.  In comparison, contracted ICE flights that regularly transport migrants inside of the U.S. cost only $8,500 per flight hour.  President Trump’s decision to use military aircraft instead of ICE aircraft to shuttle migrants across the globe—to as far away as India—is a gross misuse of taxpayer dollars and servicemembers’ time.

    Just yesterday, we learned that the White House wanted to fly migrants, on military aircraft, to Libya, which is one of the most dangerous, hostile locations on earth.  Human rights groups have called the conditions in Libya’s network of migrant detention centers “horrific” and “deplorable.”  The plan has been cancelled for now, but it is unconscionable for the Trump Administration to consider sending migrants to Libya and endangering our troops in the process.

    Further, the Department of Defense has informed Congress that the current surge in border missions—including troop deployments and military flights—could cost as much as $2 billion by the end of the fiscal year.  Secretary Hegseth has claimed that the border mission is so overwhelming that we will have to withdraw massive numbers of troops from Europe in order to meet the demand.  Incredibly, he has also claimed that the border missions will have “no impact” on our military readiness.

    However, we know that these border missions are harming military readiness.  Last month, when the NORTHCOM commander testified before the Armed Services Committee, I asked how his forces on the border mission are maintaining their required military training.  He testified that his troops are spending 5 days a week supporting Customs and Border Patrol and other agencies, and only 1 day a week training.  In other words, 20 percent – at most – of our servicemembers’ time is being spent training on their critical military tasks.

    In my personal engagements with commanders at all levels, they have made clear that readying their formations requires extensive time and training, as well as stability for families.  Border missions will not build these warfighting requirements.  Border missions will distract from training, drain resources, and undermine readiness.  The Government Accountability Office, or GAO, has assessed previous military support missions to DHS and found them to be detrimental to unit readiness.  Specifically, in its 2021 report, GAO found that, quote, “separating units in order to assign a portion of them to the Southwest Border mission was a consistent trend in degrading readiness ratings.”

    Guantanamo Bay

    In February, President Trump issued an unprecedented order to the Defense Department to begin transporting and detaining migrants at Guantanamo Bay, Cuba.  For decades, the U.S. Naval Station at Guantanamo Bay has housed a facility called the Migrant Operations Center that is used to temporarily house migrants who are saved at sea while traveling in unsafe vessels from Cuba, Haiti, or other nearby nations.  The facility is typically unoccupied and is kept in a low-level operational state until needed and, until February, it was run by private contractors.  The intended use for this center was never to house migrants flown from the United States to Guantanamo Bay. 

    Nonetheless, President Trump ordered the military to expand the Migrant Operations Center to accommodate up to 30,000 migrants who would be brought there from the United States.  Within weeks, approximately 1,000 active-duty troops were sent to Guantanamo to build tents for this massive number of migrants.  However, once built, the tents were found not to meet ICE standards and, to date, they have never been used and are now being dismantled.  The hundreds of troops sent down for the mission have had very little to do in the meantime. 

    Since February, around 500 individuals identified by the Administration as illegal migrants have been flown to Guantanamo Bay, and most have been detained for no more than two weeks.  Rather than being taken to the Migrant Operations Center, about half of these migrants have been held on the other side of the island at the detention facility that was built and used for law of war detainees – such as 9/11 terrorist Khalid Sheikh Mohammed.

    There are currently 15 law of war detainees remaining on Guantanamo Bay.  The facilities housing these detainees have deteriorated significantly in the 20 years since they were built, and the military personnel who guard these individuals also endure the same tough conditions in these dilapidated facilities.   Needless to say, these servicemembers have been stretched thin.  Last fall, it was a significant morale boost for them when the remaining law of war detainees were moved to a “newer” facility.  Naturally, it was a blow to morale when, just one month later, they were ordered back to the older, more decrepit facility to make way for migrants at the newer facility.

    While it is crystal clear that the military is in charge of the law of war detention center at Guantanamo Bay, it is not clear who is legally responsible for the migrants being held there.  Longstanding law dictates that U.S. Immigration and Customs Enforcement maintain “custody and control” of migrants, but in the detention center, the military maintains control.  This leads to questions about who is in charge and accountable.  When I have asked those questions, the answers have often been contradictory.  That’s disturbing.  

    To investigate these issues, I traveled to Guantanamo Bay in March with several colleagues, including Senators Shaheen, Peters, King, and Padilla. We conducted a firsthand examination of the missions underway there and met with military servicemembers, ICE officers, and DHS officials to fully understand the costs and military readiness impacts of these missions.  This trip raised many new questions and concerns. 

    I have grave doubts about the legality of removing migrants from the U.S. to Cuba, a foreign nation, and detaining them there.  There are at least a dozen open cases and court orders impacting the Guantanamo mission.  The detention center has only been used for law of war detainees, and it is reckless to equate migrants with international war criminals. 

    I was outraged by the scale of wastefulness that we found there.  It is obvious that Guantanamo Bay is an illogical location to detain migrants.  The staggering financial cost to fly these migrants out of the United States and detain them at Guantanamo Bay—a mission costing tens of millions of dollars a month—is an insult to American taxpayers.  President Trump could implement his immigration policies for a fraction of the cost by using existing ICE facilities in the U.S., but he is obsessed with the image of using Guantanamo, no matter the cost.

    I am also frustrated that my Senate colleagues and I had to fly to Cuba to get answers to the questions that Defense Secretary Hegseth and Homeland Security Secretary Noem have been ducking for months.  By avoiding questions, they are putting servicemembers and officers on the ground in the position of trying to make sense of contradictory and political orders without any guidance or support from the Pentagon or DHS headquarters.

    Domestic Law Enforcement

    Since coming into office, the Trump Administration has expanded the role of the military in immigration enforcement in other troubling ways.  The movement of migrants from the U.S. to Guantanamo Bay is unprecedented, and the buildup of 12,000 active duty troops at the Southern Border, including the Army’s 10th Mountain Division and 100 armored Stryker combat vehicles, has a huge impact on our military posture.  This is a larger force than we deployed to Afghanistan in 2002 and 2003.

    This Administration has purposely placed many of our military forces into the immigration debate in this country, and I fear it will also place them in legal and ethical risk.

    For example, on March 30th, a military flight traveled from Guantanamo Bay to El Salvador with foreign nationals on board, including seven Venezuelans.  To my understanding, not a single DHS official or civilian was on the flight, meaning that military personnel maintained both custody and control of the migrants, contrary to longstanding DOD policy and practice. 

    Here is an image of that plane unloading in El Salvador.  As you can see, the crew does not include any DHS officials or civilian law enforcement personnel – only uniformed troops, who are physically handing migrants to the Salvadoran police.

    This flight would clearly have been in violation of various immigration laws and policies, recent judicial orders, and the Posse Comitatus Act, as the military carried out a core law enforcement function of deportation without any DHS officials present.  After the fact, the Administration tried to explain itself by saying it used, quote, “counter-terrorism” authorities rather than law enforcement authorities.  I am not aware of any counter-terrorism authorities that would authorize such a flight. 

    Accordingly, last month I sent a letter to the Department of Defense Office of Inspector General asking that office to conduct an inquiry into the incident and any laws or Defense Department policies that may have been violated.  I expect the IG to exercise his independence in carrying out this inquiry, and I am disturbed that the Administration continues to put servicemembers in legal and physical jeopardy through these reckless orders.  Mr. President, I would submit that letter for the record.

    I am also concerned about the Trump Administration’s dubious creation of “National Defense Areas” along the Southern Border in recent weeks.  These National Defense Areas, first designated in New Mexico and later expanded into Texas, were created when the Department of Interior transferred land, including the Roosevelt Reservation—a 60-foot-wide strip along the border—to the Department of Defense.  So now, large swaths of the border are considered military installations.  The Administration has created these zones so that when a migrant crosses the border in those areas, prosecutors can charge them with both entering the U.S. illegally and trespassing on a military installation.  In effect, the National Defense Zones evade the long-standing protections of the Posse Comitatus Act by allowing military forces to act as de facto border police, detaining migrants until they can be transferred to Customs and Border Protection.  In the Administration’s telling, this approach permits military involvement in immigration control without invoking the Insurrection Act of 1807.

    This is both unprecedented and a legal fiction.  As the Brennan Center report found, quote: “No matter how the Trump administration frames these activities… they are civilian law enforcement functions.  He cannot turn them into military operations by misusing the language of war.  These civilian law enforcement activities are not “incidental” — they are the reason for creating the installation.”

    The Administration is also considering using military bases to detain thousands of migrants inside the United States.  Unlike in past emergencies, when military bases near the border were used to hold migrants during large surges, this administration is seeking to use installations deep within the country, including in New Jersey, Indiana, Delaware, California, and Virginia.  One could be forgiven for extrapolating that these bases are being selected to hold round-ups of migrants in major cities. 

    The President is not taking these military actions out of necessity; he is testing the boundaries of our legal system, and, in my view, violating them.  If left unchecked and unchallenged, he will go much, much further in employing the armed forces in to enforce domestic immigration laws, traditionally a civilian law enforcement function.

    For years, Mr. Trump has publicly expressed his desire to use U.S. military personnel for domestic law enforcement.  During the last campaign, he repeatedly claimed that, if elected, he would order the National Guard and active-duty military to carry out mass deportations of undocumented migrants.  He even said that he would deploy the military to conduct local law enforcement in cities, and that troops could shoot shoplifters leaving the scene of a crime.

    Trump’s defenders often say that he is joking or exaggerating when he makes such claims.  But we know these are not idle threats.  In his first 100 days in office, he has declared multiple national emergencies and invoked the Alien Enemies Act of 1798 to deport migrants without due process.  Indeed, he has even unapologetically deported U.S. citizens in violation of the Constitution.  We have all seen the chilling videos of masked and hooded ICE agents arresting civilians on the street – scenes we are accustomed to seeing on the nightly news in countries run by dictators.  The Administration is expanding its operation one step at a time, and President Trump’s deployment of forces to the border, the military deportation flights, and the establishment of National Defense Areas can be interpreted as setting the stage to invoke the Insurrection Act and order the military to carry out domestic law enforcement inside the country. 

    In fact, we have seen this situation before.  In June 2020, then-President Trump, infuriated by protesters in front of the White House and across the country, ordered his staff to prepare to invoke the Insurrection Act to allow him to deploy active-duty military forces to patrol the streets of DC and other cities.  Then-Defense Secretary Mark Esper and Chairman of the Joint Chiefs of Staff Mark Milley talked him out of it, but the President clearly views this as a serious option.

    Beyond the immorality of Trump’s desire to deploy the military domestically, to do so would simply be illegal.  As I mentioned, the doctrine of Posse Comitatus is sacred in our nation to separate the military from direct law enforcement responsibilities. 

    The use of National Guard or active-duty troops should be reserved only to those rare circumstances where civilian law enforcement has collapsed, and state leaders have specifically asked for presidential assistance.  Their deployment should never be at the sole discretion of a President, as Trump has demonstrated that such power begs abuse.

    Ultimately, U.S. military members are trained to engage the enemies of the United States abroad with deadly force, not to arrest migrants on the Southern Border or to deport them from U.S. cities.  The military has a sacred role in our country, but the public’s trust is easily lost, and a pillar of our society is cracked when the commander-in-chief uses the military recklessly. 

    Our constitutional system is fundamentally designed to separate military and civilian roles, reserving police powers for law enforcement agencies, and endowing the military with the superior weaponry and firepower necessary to fight and win the nations’ wars.  When we allow the military to be used in the routine exercise of the police power, the nation teeters on the brink of autocracy and military rule.  One need not be a student of history to see how easily this backsliding can occur.  It is all around us in the world today.

    Trump’s clear intent to use the U.S. military in potentially illegal and certainly inappropriate ways for his own political benefit is antithetical to the spirit of our American democracy. Such power is the hallmark of authoritarians around the world.

    President Trump and Secretary Hegseth must use common sense, follow the law, and immediately cease the military border deployments and deportation flights.  And my colleagues, particularly my colleagues in the majority, should demand the same and hold the Administration accountable for its actions.

    I yield the floor.

    MIL OSI USA News –

  • MIL-OSI USA: Delivering Real Results for Colorado: Gov. Polis Signs Landmark Housing Bill Into Law, Celebrates Actions for Coloradans on Education, Housing, Public Safety

    Source: US State of Colorado

    DENVER – Today, Governor Polis marked the end of the successful 2025 legislative session with House Speaker McCluskie, Senate President Coleman, House Majority Leader Duran, Senate Majority Leader Rodriguez and Lt. Governor Primavera and then signed SB25-002 – Regional Building Codes for Factory-Built Structures to break down barriers to modular housing and discussed the successful 2025 legislative session. 

    “We are delivering real results for hardworking Coloradans, and during this session, we took major actions that will create more housing Coloradans can afford, support students and educators, cut through government red tape, and improve safety across our state. It’s fitting that I’m signing the modular housing bill, a law that will create more housing options that Coloradans can afford, to kick off the next 30 days of bill signings. We know our work is far from over, and I will continue looking for new opportunities to make life better for all Coloradans,” said Governor Jared Polis. 

    During his 2025 State of the State address, the Governor outlined key priorities for the legislative session that would build on Colorado’s work to break down barriers to housing, improve public safety in Colorado communities, and invest in students and educators. These successful legislative priorities resulted in new laws that will help reduce costs and strengthen Colorado communities. 

    MORE HOUSING NOW: 

    IMPROVING PUBLIC SAFETY: 

    • SB25-310 – Proposition 130 Implementation: This law supports funding for local law enforcement agencies to help recruit peace officers by providing financial reimbursements and tuition assistance for initial and continuing education and training for peace officers, as well as pay incentives and bonuses. The bill also provides funding to ensure that the families of fallen officers get the support they need after losing their loved one in the line of duty.
    • HB25-1062 Penalty for Theft of Firearm: This legislation cracks down on gun theft by reclassifying firearm theft as a class 6 felony regardless of the value of the firearm stolen.
    • HB25-1171 – Possession of Weapon by Previous Offender Crimes: This legislation adds first-degree motor vehicle theft to the list of criminal offenses that would make an individual ineligible to possess a firearm.
    • SB25-281 – Increase Penalties Careless Driving: adjusts penalties for persons convicted of careless driving, making each individual seriously injured or killed in a careless driving event a separate violation and clarifies that careless driving resulting in serious bodily injury or death is an included crime for the purposes of the “Victim Rights Act”.
    • Budget to Make Colorado Safer: Governor Polis continues working to make Colorado safer for everyone and by signing this year’s budget, Colorado continues investing in preventing and addressing crime. This includes:
      • Youth Crime Prevention: Helping to prevent at-risk youth from entering the criminal justice system through increased funding for prevention services.
      • Community Corrections Capacity: The budget also provides $2.4 million to invest in community corrections placement, increasing capacity.
      • Supporting Crime Victims: Additionally, this budget implements Colorado’s Proposition KK, designating $30.0M in spending authority to crime victims’ services, $8 million for mental health services, and $1 million for school safety. $15 million ongoing for critical public safety communication infrastructure, supporting over 1,000 local, regional, state, tribal, and federal public safety entities.
      • Funding for CBI’s Colorado Gangs Database: The Colorado Gangs database (CoG) is an application that stores gang information such as gang names, gang members, gang contacts, and is used by law enforcement as an investigative tool. It allows law enforcement the ability to add and change any information about the gangs, tracking gangs, and gang members that they contact during patrol or other investigative efforts conducted by law enforcement. This information is also queryable in the Colorado Crime Information Center (CCIC), which provides law enforcement with the most accurate information possible.
    • HB25-1146 – Juvenile Detention Bed Cap: This legislation allows judicial districts to utilize more juvenile detention beds to ensure that individuals deemed high-risk do not re-enter communities before receiving the rehabilitative services they need. 

    FULLY FUND SCHOOLS AND SUPPORT COLORADO’S WORKFORCE: 

    • HB25-1320 – School Finance Act: This legislation implements Colorado’s student-focused school finance formula without bringing back the budget stabilization factor. It also increases per-pupil funding again to $11,864, an increase from FY24-25 of $412 per student, or an average of $9,000 per classroom.
    • SB25-315 – Postsecondary & Workforce Readiness Programs: This legislation realigns Postsecondary and Workforce Readiness administration and funding to ensure all students have the opportunity to graduate high school with postsecondary credit, an industry-recognized credential, or work-based learning experience.
    • HB25-1278 – Education Accountability System: This legislation modernizes Colorado’s K-12 accountability system for the first time since 2009 to better measure student outcomes, including the creation of a new sub-indicator to support postsecondary and workforce readiness before graduation.
    • HB25-1192 – Financial Literacy Graduation Requirement: This legislation ensures that every student takes a course incorporating all financial literacy standards before they graduate high school, as well as practice filling out financial aid forms so that they are equipped with the know-how to plan for and secure their financial futures.
    • HB25-1038 – Postsecondary Credit Transfer Website: This law will support students by providing more information about how their credits earned through prior learning, concurrent and dual enrollment, and GT Pathways courses will transfer to each Colorado public institution. By allowing students to evaluate and compare the value of their transfer credits across institutions and programs, students can save money and more successfully plan their educational journeys. 

    DRIVING COLORADO’S ECONOMY: 

    FREE STATE OF COLORADO: 

    BOLD CLIMATE GOALS AND IMPROVING AIR QUALITY: 

    • HB25-1267 – Support for Statewide Energy Strategies: This legislation builds on our EV success by empowering the Division of Oil and Public Safety to adopt retail EV charging rules to promote consistency and provide for a more seamless EV charging experience.
    • HB25-1269 Building Decarbonization Measures: This law will make it simpler for buildings to comply with statewide standards by complying with a local standard and will help achieve the administration’s 2030 carbon emission reduction targets. 

    ###

    MIL OSI USA News –

  • MIL-OSI Security: 21 Armed and Violent Drug Traffickers and Gang Members from Spokane Area Facing Federal Drug and Firearm Charges

    Source: Office of United States Attorneys

    Spokane, Washington – Today, the U.S. Attorney’s Office for the Eastern District of Washington announced that 21 individuals have been charged following the return of 15 separate indictments alleging dozens of charges against these defendants.  Certain of the individuals indicated are not yet in federal custody.

    The arrests follow a long-term joint federal investigation that began in October 2024, led by the by the Bureau of Alcohol, Tobacco, Firearms, and Explosives. This 7-month long investigation has targeted violent individuals and armed drug traffickers in Spokane as well as individuals operating in what has become nothing less than an open-air drug market on Division Street downtown..  These individuals have been problems in multiple states, impacting multiple communities during their lifetimes, in not only Washington State, but also Texas, Nevada, North Dakota, Montana, Alabama, Idaho, Oregon, and California.

    Upon release of the latest indictment, which was unsealed earlier today upon the arrest of several additional suspects, Acting United States Attorney Rich Barker stated, “I am grateful for the coordinated efforts of so many law enforcement agencies, who worked together to coordinate the takedown of this alleged drug trafficking operation.”  Acting U.S. Attorney Barker continued, “It is an honor work with our federal, state, and local law enforcement partners on such important prosecutions, which help remove illegal drugs and firearms from our community.  Our community and nation are safer, because of the work of our law enforcement and prosecution teams.”

    To date, agents seized just shy of 14-pounds of methamphetamine, over 1 kilogram of heroin, over 16,000 fentanyl pills, over 5.5 pounds of fentanyl powder, almost $60,000 in drug proceeds, as well as four vehicles and 36 firearms.  In connection with the prosecution, the United States has filed a civil forfeiture complaint in the Eastern District of Washington against a local Spokane apartment complex located near North Central High School, which allegedly was being used to distribute illegal drugs and a place for individuals to obtain firearms. Properties such as this one are not only a community safety issue as a free for all of illicit activity, they are also a drain on public resources that could be used elsewhere.  For example, in the last 2.5 years, records show there have been approximately 58 separate calls for service at the address.

    According to unsealed charging documents, the following individuals, many of whom have ties to various street gangs and who have a history of violence, have been charged in connection with the investigation. Additionally, the names of others indicted in connection with this investigation will be unsealed upon the arrest of those individuals.

    Andrew Vincent Auerbach, charged with Distribution of 50 Grams or More of Actual (Pure) Methamphetamine, Felon in Possession of a Firearm, Possession of a Firearm in Furtherance of Drug Trafficking.  Auerbach has a prior federal conviction for Felon in Possession of a Firearm.

    Daryl Edward Boone, 45, charged with Possess with Intent to Distribute 50 Grams or More of Actual (Pure) Methamphetamine, Possess with Intent to Distribute 40 Grams or More of Fentanyl, Distribution of 5 Grams or More of Actual (Pure) Methamphetamine

    James M. Ferguson, 33, charged with Unlawful Possession of a Short-Barreled Shotgun

    Jonathan Jacob Inglis, 40, pleaded guilty to Possession with Intent to Distribute 500 Grams or More of Methamphetamine and Possession with Intent to Distribute 400 Grams or More of Fentanyl. On January 30, 2025, he was sentenced to 151 months in prison.

    Nathan Carlson Johnson, 44, charged with Distribution of 50 Grams or More of Actual (Pure) Methamphetamine.

    James Lelacheur, 56, charged with Distribution of 50 Grams or More of Actual (Pure) Methamphetamine.

    Christopher Wayne O’Neal, charged with Distribution of 5 Grams or More of Actual (Pure) Methamphetamine.  O’Neal is currently in Spokane County Jail stemming from a separate drug trafficking investigation.

    Gabriella Sherif Rizkalla, charged with multiple counts of Distribution of 50 Grams or More of Actual (Pure) Methamphetamine, and Conspiracy to Distribute 50 Grams or More of Actual (Pure) Methamphetamine

    Roland Dewayne Sanders, 36, charged with Distribution of Fentanyl, Distribution of 40 Grams or More of Fentanyl.  Sanders was on federal supervised release at the time of his offense and utilized his minor child to assist in the distribution of fentanyl.

    Bernie Ray Shaw Jr., 45, charged with Distribution of Fentanyl

    Courtney A. Wheeler, charged with Possession of a Firearm in Furtherance of Drug Trafficking and Conspiracy to Possess a Firearm in Furtherance of Drug Trafficking

    Andrew Lee Williams, charged with Possession of a Firearm in Furtherance of Drug Trafficking and Conspiracy to Possess a Firearm in Furtherance of Drug Trafficking

    Anthony Dale Williams, charged with Possession of a Firearm in Furtherance of Drug Trafficking and Conspiracy to Possess a Firearm in Furtherance of Drug Trafficking, multiple counts of Distribution of 50 Grams or More of Actual (Pure) Methamphetamine, Conspiracy to Distribute Methamphetamine, and Distribution of Cocaine.

    Certain of the individuals will be arraigned at the Spokane Federal Courthouse on May 9, 2025, at 10:00am.

    The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

    The Bureau of Alcohol, Tobacco, Firearms, and Explosives conducted the investigation along with the Drug Enforcement Administration, Homeland Security Investigations, Moses Lake Police Department, Border Patrol, and the Washington Department of Corrections. Additional assistance was provided by the United States Marshals Service and the Spokane County Sheriff’s Office.

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

    WILLIAMS et al – 2:25-CR-75-RLP

    SANDERS – 2:25-CR-15-MKD

    LELACHER – 2:24-CR-16-MKD

    FERGUSON – 2:24-CR-158-RLP

    JOHNSON – 2:24-CR-159-MKD

    AUERBACH – 2:25-CR-16-TOR

    INGLIS – 2:23-CR-56-TOR

    SHAW – 2:24-CR-163-MKD

    BOONE – 2:24-CR-164-RLP

    United States of America v. Real Property Known as 625 West Maxwell Avenue Spokane Washington et al, 2:25-cv-00148-RLP

    MIL Security OSI –

  • MIL-OSI: CarGurus Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Marketplace revenue grew 13% YoY

    Q1’25 Net Income of $39.0 million; Non-GAAP Adjusted EBITDA of $66.3 million, up 32% YoY

    Repurchased $184.2 million worth of shares in Q1’25, representing 6% of our outstanding capital

    BOSTON, May 08, 2025 (GLOBE NEWSWIRE) — CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles*, today announced financial results for the first quarter ended March 31, 2025.

    “Our strong momentum in our Marketplace business continued into 2025, which grew 13% year-over-year,” said Jason Trevisan, Chief Executive Officer at CarGurus. “Across the company, we advanced our 2025 core drivers of value creation: expanding data-driven solutions that help dealers drive more profitable businesses, meeting the evolving needs of car shoppers with a more intelligent and seamless experience, and enabling customers to do more of the transaction online. As a result, this focused execution has translated into deeper consumer and dealer engagement and has expanded our market share.”

    First Quarter Financial Highlights

        Three Months Ended  
        March 31, 2025  
        Results
    (in millions)    		     Variance from Prior Year  
    Revenue            
    Marketplace Revenue   $ 212.2       13 %
    Wholesale Revenue     7.7       (52 )%
    Product Revenue     5.2       (58 )%
    Total Revenue   $ 225.2       4 %
                 
    Gross Profit   $ 199.7       14 %
    % Margin     89 %   762 bps  
                 
    Operating Expenses   $ 154.0       4 %
                 
    GAAP Net Income   $ 39.0       83 %
    % Margin     17 %   747 bps  
                 
    Non-GAAP Adjusted EBITDA (1)   $ 66.3       32 %
    % Margin (1)     29 %   609 bps  
                 
    Cash and Cash Equivalents at period end (2)   $ 172.9       (43 )%

    (1)  For more information regarding our use of non-GAAP Adjusted EBITDA and other non-GAAP financial measures, please see the reconciliations of GAAP financial measures to non-GAAP financial measures and the section titled “Non-GAAP Financial Measures and Other Business Metrics” below.
    (2)  Variance represents the change from December 31, 2024.

        Three Months Ended  
        March 31, 2025  
        Results     Variance from Prior Year  
    Key Performance Indicators (1)            
    U.S. Paying Dealers (2)     25,153       3 %
    International Paying Dealers (2)     7,219       7 %
    Total Paying Dealers (2)     32,372       4 %
                 
    U.S. QARSD (2)   $ 7,369       10 %
    International QARSD (2)   $ 2,073       10 %
    Consolidated QARSD (2)   $ 6,173       9 %
                 
    Transactions     5,209       (49 )%
                 
    U.S. Average Monthly Unique Users (in millions) (3)     35.0     N/A(4)  
    U.S. Average Monthly Sessions (in millions) (3)     85.7     N/A(4)  
                 
    International Average Monthly Unique Users (in millions) (3)     10.6     N/A(4)  
    International Average Monthly Sessions (in millions) (3)     22.2     N/A(4)  
                 
    Segment Reporting (in millions)            
    U.S. Marketplace Segment Revenue   $ 195.2       13 %
    U.S. Marketplace Segment Operating Income   $ 49.8       45 %
    Digital Wholesale Segment Revenue   $ 12.9       (55 )%
    Digital Wholesale Segment Operating Loss   $ (5.8 )     44 %

    (1)  For more information regarding our use of Key Performance Indicators, please see the section titled “Non-GAAP Financial Measures and Other Business Metrics” below.
    (2)  Metrics presented as of March 31, 2025.
    (3)  CarOffer website is excluded from the metrics presented for users and sessions.
    (4)  As a result of the change from Google Universal Analytics (“Google Analytics”) to Google Analytics 4 (“GA4”) on July 1, 2024, we are unable to provide comparable monthly unique users or monthly sessions information for this period. For more information regarding the change in methodology for monthly unique users or monthly sessions, please see the section titled “Non-GAAP Financial Measures and Other Business Metrics” below.

    Second Quarter 2025 Guidance

    The table below provides CarGurus’ guidance, which is based on recent market trends, industry conditions, and management’s expectations and assumptions as of today.

    Second Quarter 2025 Guidance Metrics Values
    Total Revenue $222.0 million to $242.0 million
    Marketplace Revenue $219.5 million to $224.5 million
    Non-GAAP Adjusted EBITDA $71.5 million to $79.5 million
    Non-GAAP Earnings per Share $0.52 to $0.58

    The second quarter 2025 non-GAAP earnings per share calculation assumes 100.0 million diluted weighted-average common shares outstanding.

    The assumptions that are built into guidance for the second quarter 2025 regarding our pace of paid dealer acquisition, churn, and expansion activity for the relevant period are based on recent market trends and industry conditions. Guidance for the second quarter 2025 excludes macro-level industry issues that result in dealers and consumers materially changing their recent market trends or that cause us to enact measures to assist dealers. Guidance also excludes any potential impact of future foreign currency exchange gains or losses. CarGurus may incur charges, realize gains or losses, or experience other events or circumstances in 2025 that could cause any of these assumptions to change and/or actual results to vary from this guidance.

    CarGurus has not reconciled its guidance of non-GAAP adjusted EBITDA to GAAP net income or non-GAAP earnings per share to GAAP earnings per share because reconciling items between such GAAP and non-GAAP financial measures, which include, as applicable, stock-based compensation, amortization of intangible assets, depreciation expenses, non-intangible amortization, transaction-related expenses, other income, net, the provision for income taxes, and income tax effects, cannot be reasonably predicted due to, as applicable, the timing, amount, valuation, and number of future employee equity awards and the uncertainty relating to the timing, frequency, and effect of acquisitions and the significance of the resulting transaction-related expenses, and therefore cannot be determined without unreasonable effort.

    Conference Call and Webcast Information

    CarGurus will host a conference call and live webcast to discuss its first quarter 2025 financial results and business outlook at 5:00 p.m. Eastern Time today, May 8, 2025. To access the conference call, dial (877) 451-6152 for callers in the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of CarGurus’ website at https://investors.cargurus.com.

    An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time today, May 8, 2025, until 11:59 p.m. Eastern Time on May 22, 2025, by dialing (844) 512-2921 for callers in the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13752230. In addition, an archived webcast will be available on the Investors section of CarGurus’ website at https://investors.cargurus.com.

    About CarGurus

    CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The Company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S.*

    In addition to the U.S. marketplace, the Company operates online marketplaces under the CarGurus brand in Canada and the U.K., as well as independent online marketplace brands Autolist in the U.S. and PistonHeads in the U.K.

    To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

    *Source: Similarweb, Traffic Report (Cars.com, Autotrader, TrueCar, CARFAX Listings
    (defined as CARFAX Total visits minus Vehicle History Reports traffic)), Q1 2025, U.S.

    CarGurus® and Autolist® are each a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. PistonHeads® is a registered trademark of CarGurus Ireland Limited in the U.K. and the European Union. All other product names, trademarks, and registered trademarks are property of their respective owners.

    © 2025 CarGurus, Inc., All Rights Reserved.

    Cautionary Language Concerning Forward-Looking Statements

    This press release includes forward-looking statements. Other than statements of historical facts, all statements contained in this press release, including statements regarding our future financial and operating results; our second quarter 2025 financial and business performance, including guidance; our business and growth strategy and our plans to execute on our growth strategy; our ability to grow our business profitably and efficiently; our capital allocation and investment strategy; the attractiveness and value proposition of our current offerings and other product opportunities; our ability to maintain existing and acquire new customers; addressable opportunities; our expectation that we will continue to invest in growth initiatives; our ability to quickly make transformations necessary for our business to achieve long-term goals; and our ability to overcome challenges facing the automotive industry ecosystem, including inventory supply problems, global supply chain challenges, including disruptions to pre-existing supply chains and vendor relations, changes to trade policies or tariff regulations, financial market volatility and disruption, increased interest rates, inflationary concerns, and other macroeconomic issues, including uncertain or volatile economic conditions in the U.S. and abroad, are forward-looking statements. The words “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “guide,” “guidance,” “intend,” “may,” “might,” “plan,” “potential,” “predicts,” “projects,” “seeks,” “should,” “strive,” “target,” “will,” “would,” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. You should not rely upon forward-looking statements as predictions of future events.

    These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including risks related to our growth and our ability to grow our revenue; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate; our ability to realize benefits from our acquisitions and successfully implement the integration strategies in connection therewith; impairment of the carrying value of our goodwill, intangible assets, right-of-use assets, or other assets; increased inflation and interest rates, global supply chain challenges, changes in international trade policies, including tariffs, volatile economic conditions, and other macroeconomic issues; changes in our key personnel; natural disasters, epidemics, or pandemics; and our ability to operate in compliance with applicable laws as well as other risks and uncertainties as may be detailed from time to time in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other reports we file with the U.S. Securities and Exchange Commission. Moreover, we operate in very competitive and rapidly changing environments. New risks 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, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, we cannot guarantee that future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

    Investor Contact:
    Kirndeep Singh
    Vice President, Head of Investor Relations
    investors@cargurus.com

    Media Contact:
    Maggie Meluzio
    Director, Public Relations and External Communications
    pr@cargurus.com

    Unaudited Condensed Consolidated Balance Sheets
    (in thousands, except share and per share data)

        As of
    March 31,
    2025    		     As of
    December 31,
    2024    		  
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 172,862     $ 304,193  
    Accounts receivable, net of allowance for doubtful accounts of $808
    and $788, respectively    		     40,703       44,248  
    Inventory     810       338  
    Prepaid expenses, prepaid income taxes, and other current assets     21,107       27,868  
    Deferred contract costs     13,640       12,523  
    Restricted cash     2,848       2,036  
    Total current assets     251,970       391,206  
    Property and equipment, net     132,383       130,010  
    Intangible assets, net     11,318       11,767  
    Goodwill     46,714       46,167  
    Operating lease right-of-use assets     119,589       121,484  
    Deferred tax assets     110,050       106,672  
    Deferred contract costs, net of current portion     13,088       13,196  
    Other non-current assets     4,003       4,034  
    Total assets   $ 689,115     $ 824,536  
    Liabilities and stockholders’ equity            
    Current liabilities:            
    Accounts payable   $ 29,891     $ 26,410  
    Accrued expenses, accrued income taxes, and other current liabilities     32,240       35,975  
    Deferred revenue     22,407       21,661  
    Operating lease liabilities     9,969       9,005  
    Total current liabilities     94,507       93,051  
    Operating lease liabilities     185,463       183,739  
    Deferred tax liabilities     15       26  
    Other non–current liabilities     7,080       6,031  
    Total liabilities     287,065       282,847  
    Stockholders’ equity:            
    Preferred stock, $0.001 par value per share; 10,000,000 shares authorized;
    no shares issued and outstanding    		     —       —  
    Class A common stock, $0.001 par value per share; 500,000,000 shares
    authorized; 84,334,642 and 89,002,571 shares issued and outstanding
    at March 31, 2025 and December 31, 2024, respectively    		     84       89  
    Class B common stock, $0.001 par value per share; 100,000,000 shares
    authorized; 14,216,250 and 14,986,745 shares issued and outstanding
    at March 31, 2025 and December 31, 2024, respectively    		     14       15  
    Additional paid-in capital     6,775       169,013  
    Retained earnings     396,486       375,119  
    Accumulated other comprehensive loss     (1,309 )     (2,547 )
    Total stockholders’ equity     402,050       541,689  
    Total liabilities and stockholders’ equity   $ 689,115     $ 824,536  

    Unaudited Condensed Consolidated Income Statements
    (in thousands, except share and per share data)

        Three Months Ended  
        March 31,  
        2025     2024  
    Revenue            
    Marketplace   $ 212,235     $ 187,219  
    Wholesale     7,747       16,125  
    Product     5,176       12,452  
    Total revenue     225,158       215,796  
    Cost of revenue (1)            
    Marketplace     14,248       14,385  
    Wholesale     6,170       14,224  
    Product     5,033       12,226  
    Total cost of revenue     25,451       40,835  
    Gross profit     199,707       174,961  
    Operating expenses            
    Sales and marketing     86,716       82,274  
    Product, technology, and development     36,250       35,545  
    General and administrative     26,780       28,066  
    Depreciation and amortization     4,206       2,792  
    Total operating expenses     153,952       148,677  
    Income from operations     45,755       26,284  
    Other income, net            
    Interest income     3,098       3,906  
    Other expense, net     (302 )     (505 )
    Total other income, net     2,796       3,401  
    Income before income taxes     48,551       29,685  
    Provision for income taxes     9,506       8,384  
    Net income     39,045       21,301  
    Net income per share attributable to common stockholders:            
    Basic   $ 0.38     $ 0.20  
    Diluted   $ 0.37     $ 0.20  
    Weighted-average number of shares of common stock used in
    computing net income per share attributable to common stockholders:    		            
    Basic     103,094,690       107,174,812  
    Diluted     105,068,046       108,632,159  

    (1)  Includes depreciation and amortization expense for the three months ended March 31, 2025 and 2024 of $2,348 and $4,689, respectively.

    Unaudited Segment Revenue
    (in thousands)

        Three Months Ended  
        March 31,  
        2025     2024  
    Segment Revenue:            
    U.S. Marketplace   $ 195,228     $ 172,988  
    Digital Wholesale     12,923       28,577  
    Other     17,007       14,231  
    Total   $ 225,158     $ 215,796  

    Unaudited Segment Income (Loss) from Operations
    (in thousands)

        Three Months Ended  
        March 31,  
        2025     2024  
    Segment Income (Loss) from Operations:            
    U.S. Marketplace   $ 49,781     $ 34,217  
    Digital Wholesale     (5,779 )     (10,340 )
    Other     1,753       2,407  
    Total   $ 45,755     $ 26,284  

    Unaudited Condensed Consolidated Statements of Cash Flows
    (in thousands)

        Three Months Ended  
        March 31,  
        2025     2024  
    Operating Activities            
    Net income   $ 39,045     $ 21,301  
    Adjustments to reconcile net income to net cash provided by operating activities:            
    Depreciation and amortization     6,554       7,481  
    Currency (gain) loss on foreign denominated transactions     (165 )     384  
    Deferred taxes     (3,389 )     (9,052 )
    Provision for doubtful accounts     424       290  
    Stock-based compensation expense     12,900       15,822  
    Amortization of deferred financing costs     129       129  
    Amortization of deferred contract costs     3,810       3,258  
    Changes in operating assets and liabilities:            
    Accounts receivable     3,070       (4,182 )
    Inventory     (353 )     (319 )
    Prepaid expenses, prepaid income taxes, and other assets     6,801       5,974  
    Deferred contract costs     (4,744 )     (3,326 )
    Accounts payable     4,075       707  
    Accrued expenses, accrued income taxes, and other liabilities     (5,592 )     681  
    Deferred revenue     731       120  
    Lease obligations     4,583       12,696  
    Net cash provided by operating activities     67,879       51,964  
    Investing Activities            
    Purchases of property and equipment     (2,240 )     (28,665 )
    Capitalization of website development costs     (5,391 )     (5,465 )
    Purchases of short-term investments     —       (494 )
    Sale of short-term investments     —       21,218  
    Advance payments to customers, net of collections     —       259  
    Net cash used in investing activities     (7,631 )     (13,147 )
    Financing Activities            
    Proceeds from issuance of common stock upon exercise of stock options     394       11  
    Payment of withholding taxes on net share settlements of restricted stock units     (8,985 )     (5,115 )
    Repurchases of common stock     (182,828 )     (77,442 )
    Payment of finance lease obligations     (20 )     (18 )
    Change in gross advance payments received from third-party transaction processor     (38 )     (474 )
    Net cash used in financing activities     (191,477 )     (83,038 )
    Impact of foreign currency on cash, cash equivalents, and restricted cash     710       (577 )
    Net decrease in cash, cash equivalents, and restricted cash     (130,519 )     (44,798 )
    Cash, cash equivalents, and restricted cash at beginning of period     306,229       293,926  
    Cash, cash equivalents, and restricted cash at end of period   $ 175,710     $ 249,128  

    Unaudited Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Income Attributable to Common Stockholders and GAAP Net Income Per Share Attributable to Common Stockholders to Non-GAAP Net Income Per Share Attributable to Common Stockholders:
    (in thousands, except per share data)

        Three Months Ended  
        March 31,  
        2025     2024(1)  
    GAAP net income   $ 39,045     $ 21,301  
    Stock-based compensation expense     12,900       15,822  
    Amortization of intangible assets     505       1,882  
    Transaction-related expenses     1,087       811  
    Income tax effects and adjustments     (5,174 )     (3,422 )
    Non-GAAP net income   $ 48,363     $ 36,394  
    GAAP net income per share attributable to common stockholders:            
    Basic   $ 0.38     $ 0.20  
    Diluted   $ 0.37     $ 0.20  
    Non-GAAP net income per share attributable to common stockholders:            
    Basic   $ 0.47     $ 0.34  
    Diluted   $ 0.46     $ 0.34  
    Shares used in GAAP and Non-GAAP per share calculations            
    Basic     103,095       107,175  
    Diluted     105,068       108,632  

    (1)  During the three months ended March 31, 2025, we identified an immaterial error to our non-GAAP net income calculation related to the income tax effects and adjustments and have updated the table to correct the calculation for the three months ended March 31, 2024. This resulted in an increase in the non-GAAP net income per share attributable to common stockholders from $0.32 per share to $0.34 per share.

    Unaudited Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDA and GAAP Net Income Margin to Non-GAAP Adjusted EBITDA Margin
    (in thousands)

        Three Months Ended  
        March 31,  
        2025     2024  
    GAAP net income   $ 39,045     $ 21,301  
    Depreciation and amortization     6,554       7,481  
    Stock-based compensation expense     12,900       15,822  
    Transaction-related expenses     1,087       811  
    Other income, net     (2,796 )     (3,401 )
    Provision for income taxes     9,506       8,384  
    Non-GAAP adjusted EBITDA   $ 66,296     $ 50,398  
                 
    GAAP net income margin     17 %     10 %
    Non-GAAP adjusted EBITDA margin     29 %     23 %

    Unaudited Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit and GAAP Gross Profit Margin to Non-GAAP Gross Profit Margin
    (in thousands, except percentages)

        Three Months Ended  
        March 31,  
        2025     2024  
    Revenue   $ 225,158     $ 215,796  
    Cost of revenue     25,451       40,835  
    GAAP gross profit     199,707       174,961  
    Stock-based compensation expense included in Cost of revenue     60       231  
    Amortization of intangible assets included in Cost of revenue     —       875  
    Transaction-related expenses included in Cost of revenue     269       92  
    Non-GAAP gross profit   $ 200,036     $ 176,159  
                 
    GAAP gross profit margin     89 %     81 %
    Non-GAAP gross profit margin     89 %     82 %

    Unaudited Reconciliation of GAAP Expense to Non-GAAP Expense
    (in thousands)

        Three Months Ended March 31, 2025  
        GAAP expense     Stock-based
    compensation
    expense    		     Amortization of
    intangible assets    		     Transaction-related expenses     Non-GAAP
    expense    		  
    Cost of revenue   $ 25,451     $ (60 )   $ —     $ (269 )   $ 25,122  
    Sales and marketing     86,716       (2,833 )     —       (491 )     83,392  
    Product, technology, and development     36,250       (5,565 )     —       (151 )     30,534  
    General and administrative     26,780       (4,442 )     —       (176 )     22,162  
    Depreciation & amortization     4,206       —       (505 )     —       3,701  
    Operating expenses(1)   $ 153,952     $ (12,840 )   $ (505 )   $ (818 )   $ 139,789  
    Total cost of revenue and operating expenses   $ 179,403     $ (12,900 )   $ (505 )   $ (1,087 )   $ 164,911  
                                   
        Three Months Ended March 31, 2024  
        GAAP expense     Stock-based
    compensation
    expense    		     Amortization of
    intangible assets    		     Transaction-related expenses     Non-GAAP
    expense    		  
    Cost of revenue   $ 40,835     $ (231 )   $ (875 )   $ (92 )   $ 39,637  
    Sales and marketing     82,274       (2,874 )     —       (394 )     79,006  
    Product, technology, and development     35,545       (5,977 )     —       (1 )     29,567  
    General and administrative     28,066       (6,740 )     —       (324 )     21,002  
    Depreciation & amortization     2,792       —       (1,007 )     —       1,785  
    Operating expenses(1)   $ 148,677     $ (15,591 )   $ (1,007 )   $ (719 )   $ 131,360  
    Total cost of revenue and operating expenses   $ 189,512     $ (15,822 )   $ (1,882 )   $ (811 )   $ 170,997  

    (1)  Operating expenses include sales and marketing, product, technology, and development, general and administrative, and depreciation & amortization.

    Unaudited Reconciliation of GAAP Net Cash and Cash Equivalents Provided by Operating Activities to Non-GAAP Free Cash Flow
    (in thousands)

        Three Months Ended  
        March 31,  
        2025     2024  
    GAAP net cash and cash equivalents provided by operating activities   $ 67,879     $ 51,964  
    Purchases of property and equipment     (2,240 )     (28,665 )
    Capitalization of website development costs     (5,391 )     (5,465 )
    Non-GAAP free cash flow   $ 60,248     $ 17,834  

    Non-GAAP Financial Measures and Other Business Metrics

    To supplement our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”), we provide investors with certain non-GAAP financial measures and other business metrics, which we believe are helpful to our investors. We use these non-GAAP financial measures and other business metrics for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures and other business metrics provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

    The presentation of non-GAAP financial information and other business metrics is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. While our non-GAAP financial measures and other business metrics are an important tool for financial and operational decision-making and for evaluating our own operating results over different periods of time, we urge investors to review the reconciliation of these financial measures to the comparable GAAP financial measures included above, and not to rely on any single financial measure to evaluate our business.

    While a reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to, as applicable, the timing, amount, valuation, and number of future employee equity awards and the uncertainty relating to the timing, frequency, and effect of acquisitions and the significance of the resulting transaction-related expenses, we have provided a reconciliation of non-GAAP financial measures and other business metrics to the nearest comparable GAAP measures in the accompanying financial statement tables included in this press release.

    We monitor operating measures of certain non-GAAP items including non-GAAP gross profit, non-GAAP gross margin, non-GAAP expense, non-GAAP net income, non-GAAP net income attributable to common stockholders, and non-GAAP net income per share attributable to common stockholders. These non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of intangible assets, and transaction related-expenses. Non-GAAP net income, non-GAAP net income attributable to common stockholders, and non-GAAP net income per share attributable to common stockholders also exclude certain income tax effects and adjustments. Our calculations of non-GAAP net income per share attributable to common stockholders utilize applicable GAAP share counts as included in the accompanying financial statement tables included in this press release. In addition, we evaluate our non-GAAP gross profit in relation to our revenue. We refer to this as non-GAAP gross profit margin and define it as non-GAAP gross profit divided by total revenue. We believe that these non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to metrics used by our management in its financial and operational decision-making.

    We define Adjusted EBITDA as net income, adjusted to exclude: depreciation and amortization, stock-based compensation expense, transaction-related expenses, other income, net, and provision for income taxes.

    In addition, we evaluate our Non-GAAP Adjusted EBITDA in relation to our revenue. We refer to this as Non-GAAP Adjusted EBITDA margin and define it as Non-GAAP Adjusted EBITDA divided by total revenue.

    We have presented Adjusted EBITDA and Adjusted EBITDA margin because they are key measures used by our management and Board of Directors to understand and evaluate our operating performance, generate future operating plans, and make strategic decisions regarding the allocation of capital. We believe Adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of the expenses that we exclude. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by our management in its financial and operational decision making.

    We define Free Cash Flow as cash flow from operations adjusted to include: purchases of property and equipment and capitalization of website development costs. We have presented Free Cash Flow because it is a measure of our financial performance that represents the cash that we are able to generate after expenditures required to maintain or expand our asset base.

    We define a paying dealer as a dealer account with an active, paid marketplace subscription at the end of a defined period. The number of paying dealers we have is important to us and we believe it provides valuable information to investors because it is indicative of the value proposition of our marketplace products, as well as our sales and marketing success and opportunity, including our ability to retain paying dealers and develop new dealer relationships.

    We define Quarterly Average Revenue per Subscribing Dealer (“QARSD”), which is measured at the end of a fiscal quarter, as the marketplace revenue primarily from subscriptions to our Listings packages and Real-time Performance Marketing, our digital advertising suite, and other digital add-on products during that trailing quarter divided by the average number of paying dealers in that marketplace during the quarter. We calculate the average number of paying dealers for a period by adding the number of paying dealers at the end of such period and the end of the prior period and dividing by two. This information is important to us, and we believe it provides useful information to investors, because we believe that our ability to grow QARSD is an indicator of the value proposition of our products and the return on investment that our paying dealers realize from our products. In addition, increases in QARSD, which we believe reflect the value of exposure to our engaged audience in relation to subscription cost, are driven in part by our ability to grow the volume of connections to our users and the quality of those connections, which result in increased opportunity to upsell package levels and cross-sell additional products to our paying dealers.

    We define Transactions within the Digital Wholesale segment as the number of vehicles processed from car dealers, consumers, and other marketplaces through the CarOffer website within the defined period. Transactions consists of each unique vehicle (based on vehicle identification number) that reaches “sold and invoiced” status on the CarOffer website within the defined period, including vehicles sold to car dealers, vehicles sold at third-party auctions, vehicles ultimately sold to a different buyer, and vehicles that are returned to their owners without completion of a sale transaction. We exclude vehicles processed within CarOffer’s intra-group trading solution (Group Trade) from the definition of Transactions, and we only count any unique vehicle once even if it reaches sold status multiple times. The Digital Wholesale segment includes the purchase and sale of vehicles between dealers, or Dealer-to-Dealer transactions, and Sell My Car – Instant Max Cash Offer transactions. We view Transactions as a key business metric, and we believe it provides useful information to investors, because it provides insight into growth and revenue for the Digital Wholesale segment. Transactions drive a significant portion of Digital Wholesale segment revenue. We believe growth in Transactions demonstrates consumer and dealer utilization and our market share penetration in the Digital Wholesale segment.

    Historically, we have used data from Google Analytics to measure two of our key business metrics: monthly unique users and monthly sessions. Effective July 1, 2024, GA4 replaced Google Analytics. The methodologies used in GA4 are different and not comparable to the methodologies used in Google Analytics. As discussed below, we also make certain adjustments to the GA4 data in order to improve the accuracy of the reported monthly unique users and monthly sessions. Due to the change in methodology, we are unable to provide comparable monthly unique user and monthly session information for prior periods, including any periods prior to June 30, 2024.

    For each of our websites (excluding the CarOffer website), we define a monthly unique user as an individual who has visited any such website and taken a Visitor Action (as defined below) within a calendar month, based on data as measured by GA4. We calculate average monthly unique users as the sum of the monthly unique users of each of our websites in a defined period, divided by the number of months in that period. Effective July 1, 2024, we count a unique user the first time a computer or mobile device with a unique device identifier accesses any of our websites or application during a calendar month and takes an action on such website or in such application, such as performing a search, visiting vehicle detail pages, and connecting with a dealer (“Visitor Action”). If an individual accesses a website or application using a different device within a given month, the first Visitor Action taken by each such device is counted as a separate unique user. If an individual uses multiple browsers on a single device and/or clears their cookies and returns to our website or application and takes a Visitor Action within a calendar month, each such Visitor Action is counted as a separate unique user. We eliminate any duplicate unique users that may arise when users visit a webview within our native application. We view our average monthly unique users as a key indicator of the quality of our user experience, the effectiveness of our advertising and traffic acquisition, and the strength of our brand awareness. Measuring unique users is important to us and we believe it provides useful information to our investors because our marketplace revenue depends, in part, on our ability to provide dealers with connections to our users and exposure to our marketplace audience. We define connections as interactions between consumers and dealers on our marketplace through phone calls, email, managed text and chat, and clicks to access the dealer’s website or map directions to the dealership.

    We define monthly sessions as the number of distinct visits to our websites (excluding the CarOffer website) that include a Visitor Action that take place each month within a given time frame, as measured and defined by GA4. We calculate average monthly sessions as the sum of the monthly sessions in a defined period, divided by the number of months in that period. Effective July 1, 2024, a session is defined as beginning with the first Visitor Action from a computer or mobile device and ending at the earliest of when a user closes their browser window or after 30 minutes of inactivity. We eliminate any duplicate monthly sessions that may arise when users visit a webview within our native application. We believe that measuring the volume of sessions in a time period, when considered in conjunction with the number of unique users in that time period, is an important indicator to us of consumer satisfaction and engagement with our marketplace, and we believe it provides useful information to our investors because the more satisfied and engaged consumers we have, the more valuable our service is to dealers.

    The MIL Network –

  • MIL-OSI USA: Department of Labor files suit alleging US Postal Service wrongfully fired Texas worker for reporting work-related injury

    Source: US Department of Labor

    CALDWELL, TX – The U.S. Department of Labor has filed suit against the U.S. Postal Service for wrongful termination of an employee who fell while delivering mail and reported the work-related injury.

    An investigation by the department’s Occupational Safety and Health Administration found the USPS violated the whistleblower provisions of the Occupational Safety and Health Act by firing the worker on 
    Feb. 27, 2024, 10 days after the injury was reported.

    The department’s suit, filed in the U.S. District Court for the Western District of Texas, asks the court to hold USPS liable for illegal retaliation and require payment of back wages and damages. 

    OSHA’s Whistleblower Protection Program enforces the whistleblower provisions of 25 whistleblower statutes protecting employees from retaliation for reporting violations of workplace airline, anti-money laundering, commercial motor carrier, consumer product, criminal antitrust, environmental, financial reform, food safety, health insurance reform, maritime, motor vehicle safety, nuclear, pipeline, public transportation agency, railroad, safety and health, securities and tax laws. For more information on whistleblower protections, visit 

    OSHA’s Whistleblower Protection Programs webpage.

    Editor’s note: The U.S. Department of Labor does not release the names of employees involved in whistleblower complaints.

    MIL OSI USA News –

  • MIL-OSI USA: What They Are Saying: Changes to New York’s Discovery Laws

    Source: US State of New York

    ollowing the FY26 State Budget agreement, District Attorneys, domestic violence survivor advocates, religious leaders and business groups are voicing their support for essential changes to New York’s discovery laws. Included in this year’s Budget, these discovery reforms build upon Governor Hochul’s record investments in proven crime prevention initiatives, while holding perpetrators accountable and safeguarding the right to a fair and speedy trial in New York State.

    Rensselaer County District Attorney and DAASNY President-Elect and Mary Pat Donnelly said, “I am grateful to Governor Hochul for recognizing the important role which Discovery has in the efforts of prosecutors to secure justice for victims in New York State. These changes protect against technical dismissals, and the dangerous consequences of those dismissals. This is a critical investment in public safety; these changes will be effective in promoting a safer New York.”

    Albany County District Attorney Lee C. Kindlon said, “I believe in pragmatic solutions to criminal justice issues, so I am grateful for Governor Hochul’s vision and leadership on Discovery reform. These common sense adjustments to the Discovery laws that the Governor fought for will help us restore justice for victims and provide us more tools to promote public safety.”

    Wayne County District Attorney Christine K. Callanan said, “The original discovery legislation, while well-intentioned, had unintended consequences that allowed for gamesmanship and resulted in the dismissal of otherwise prosecutable cases. The recent reforms preserve the full disclosure of important discovery materials to defendants, ensuring transparency and fairness, while eliminating procedural loopholes that came at the cost of successful prosecutions and justice for victims. This balanced approach strengthens due process without compromising public safety or victims’ rights.”

    Columbia County District Attorney Chris Liberati-Conant said, “The tweaks to the discovery law are a big win for public safety and the people of Columbia County. They uphold the core principles of justice, fairness, and transparency while bringing balance and common sense to the law. Defendants are still entitled to essentially everything in prosecutors’ files — everything they need for their defense. But these changes should end the practice of lying in wait by requiring defense counsel to confer in good faith about any discovery issues and setting a reasonable time limit on discovery motions. No longer should cases be dismissed for technical, minor violations that do not affect the defendant’s ability to prepare a defense. These changes protect crime victims while upholding defendants’ rights and ensuring swift, just, and responsible prosecution of cases. I thank the Governor for her steadfast leadership in support of these needed amendments.”

    Tompkins County District Attorney Matthew Van Houten said, “It has always been critically important to provide complete disclosure of the evidence against someone accused of a crime. The changes to New York’s discovery laws continue to protect the rights of the accused while significantly reducing the chance that a case will be dismissed based upon a technicality. These changes represent a commonsense and pragmatic solution that protects the rights and safety of all New Yorkers and I am extremely pleased that this was a priority for Governor Hochul in this year’s budget.”

    Ulster County District Attorney Manny Nneji said, “Discovery rules are all about achieving justice for all through a fair and transparent process. The adjustments made by Governor Hochul and our State Legislature will go a long way in eliminating the worries for victims of crime resulting from the aggressive and overzealous abuse of loopholes existing in the original discovery reforms. As a prosecutor who has dealt with these abuses firsthand in homicide cases, I am grateful to the Governor and Legislature for taking action that positively impacts victims of crime in my community.”

    Westchester County District Attorney Susan Cacace said, “I am proud to stand alongside Gov. Hochul and my District Attorney colleagues in support of a Fiscal Year 2026 budget that prioritizes public safety. This is a hard-won victory, but one that was undoubtedly worth fighting for. I commend Gov. Hochul’s leadership and the efforts of everyone inside and outside government who brought these reforms over the finish line. This agreement is a win for all New Yorkers who believe crime victims deserve a meaningful chance at securing justice. Though discovery is not often in the public spotlight, it lies at the heart of the criminal justice process. For years, we operated under a status quo that yielded arbitrary disappointments and absurd results. Now, these reforms will help restore the public’s faith in our criminal justice system.”

    Dutchess County District Attorney Anthony Parisi said, “As prosecutors, we are dedicated to pursuing justice fairly, ethically, and within the bounds of the law. While the 2019 discovery reforms were well-intentioned, they created significant operational challenges to our Office, and to district attorneys’ offices state-wide. We applaud Governor Hochul and our lawmakers for proposing amendments that preserve the spirit of reform while adding safeguards to prevent unjust dismissals of cases based upon minor technical errors in disclosures. These changes promote fairness by allowing proportionate remedies for procedural errors, protecting both defendants’ rights and public safety. We are happy to hear that Governor Hochul is committed to providing additional funding to district attorneys’ offices for discovery. To implement these reforms effectively, district attorneys’ offices urgently need additional resources. Investment in staffing and technology is essential to uphold these standards and ensure a just, efficient legal system.”

    Village of Brightwaters Mayor and President of the Suffolk County Village Officials Association John Valdini said, “On behalf of the Villages across Suffolk County, I would like to thank Governor Hochul for standing up for the victims of crimes with the Discovery Law changes included in this year’s state budget. These necessary changes will help restore balance to our justice system, keep our communities safe and support victims throughout the legal process.”

    Westhampton Beach Mayor Ralph Urban said, “Mayor Ralph Urban of Westhampton Beach strongly supports any legislation that will reduce the ‘Revolving Door’ that is currently putting a great deal of stress on our Justice and Police Departments along with putting the public at risk for encountering repeat offenders without relief.”

    North Haven Village Mayor Chris Fiore said, “The recent position of the Governor’s office and the revision of the over restrictive discovery laws will proactively address recidivism and make our neighborhoods safer. There’s more to do but these are great first steps.

    New York City Council Member Keith Powers said, “Safety is a top priority for all New Yorkers. While we’ve continued to see crime fall, it’s as important as ever that we give prosecutors the tools they need to bring criminals to justice. Tweaks to the state’s discovery law will hold perpetrators accountable while keeping the intention of the original 2019 reforms intact, ensuring speedy trials. I commend Governor Hochul for her work, and applaud the prosecutors who have worked so hard to achieve this agreement.”

    New York City Council Member Gale A. Brewer said, “These thoughtful changes to New York’s discovery laws reflect our continued commitment to justice, fairness, and public safety. By listening to the concerns of prosecutors, advocates, and communities across the state, we’ve struck the right balance—ensuring timely access to information, protecting victims, and reinforcing our fundamental promise of due process under the law.”

    Southold Town Supervisor Albert J. Krupski, Jr. said, “I am in support of New York State’s effort to change the discovery law to provide better public safety for our communities.”

    Monroe County Sheriff Todd K. Baxter said, “On behalf of the Monroe County Sheriff’s Office and the communities we serve, I want to express our appreciation to Governor Hochul for her support of public safety and meaningful discovery reform. This important revision to our discovery laws helps ensure that law enforcement has the tools we need to protect our neighborhoods, while upholding the integrity of our justice system. These changes are necessary across the bail reform spectrum. We are grateful for the willingness to discuss, the willingness to improve.”

    Partnership for New York City President & CEO Kathryn Wylde said, “Governor Hochul’s leadership has resulted in adjustments to the discovery law that were necessary to keep New Yorkers safe. Together with leaders Andrea Stewart Cousins and Carl Heastie, she has delivered reform that was a top priority for the city’s employers.”

    Greater NY Chamber of Commerce President & CEO Mark Jaffe said, “Kathy Hochul is listening! Our members throughout NY have been frustrated by the 2019 Discovery Reforms that needed to be fixed to protect public safety. The well-meaning reforms had resulted in tens of thousands of dismissals for felony and repetitive misdemeanor cases that too often left law abiding citizens without justice. The Governor’s leadership and conviction has delivered a system that will now protect the accused without sacrificing justice for victims of crime. Again, we must thank Governor Hochul for standing up for our members and providing a safer environment for all those who live, work, and visit NY.”

    Manhattan Chamber of Commerce President and CEO Jessica Walker said, “This was a very heavy lift, but the Governor got it done! This is one of those wonky issues that isn’t particularly well-known or understood but which has substantial and far-reaching impacts. It goes to the very heart of public safety and justice in New York. The Governor made a strong case, stood firm, and delivered on her promise to fix the issue. New Yorkers should all be tremendously grateful for her steady leadership.”

    Staten Island Chamber of Commerce President & CEO Linda Baran said, “The adjustments to New York State’s discovery law and the investments in our justice system included in the State budget are promising steps towards improving public safety and protecting New Yorkers and business owners. The Chamber is grateful for these improvements and congratulates Governor Hochul and District Attorney McMahon for their efforts in making New York a better and safer place for businesses to thrive.”

    Bronx Chamber of Commerce President Lisa Sorin said, “Retail theft continues to threaten the stability of small businesses and commercial corridors across New York City—particularly in the Bronx, where so many local entrepreneurs operate on razor-thin margins. The discovery law changes included in this year’s budget are a critical step toward restoring accountability, protecting small businesses, and making our communities safer for all residents. We commend Governor Hochul and the Legislature for advancing these thoughtful reforms and for recognizing that economic vitality and public safety must go hand in hand.”

    Long Island Against Domestic Violence Executive Director Wendy Linsalata said, “LI Against Domestic Violence fully supports efforts to enhance systems that are in place to protect survivor safety and hold those that are responsible for inflicting fear and harm on their partner accountable. Changes to the discovery laws were needed to prevent the dismissal of cases and support prosecution based on the merits of the case while not infringing on the rights of offenders. These changes will provide a positive impact for survivors whom, often feel unheard and discouraged from reaching out for assistance in the future when cases are dismissed.”

    Crime Victims Center Executive Director Laura A. Ahearn said, “I applaud Governor Hochul for championing these much needed changes to New York’s discovery laws. These reforms will help ensure victims on Long Island and across the state can finally seek justice based on the facts, not be denied it because of technicalities.”

    SEPA Mujer Inc. Executive Director Martha Maffei said, “The strengthened discovery protections in New York State law are a vital step toward justice, ensuring that those who bravely speak up are not further endangered. For many of the immigrant women we serve, this confidentiality is not just a legal right—it’s a lifeline. These changes affirm that survivor safety and due process can coexist, and we will continue to advocate for both.”

    Sanctuary for Families CEO Hon. Judy Harris Kluger said, “Governor Hochul and the Legislature have taken a vital step to ensure our justice system works for domestic violence survivors as well as defendants. For years, cases were dismissed over minor procedural errors, leaving survivors without protection and offenders without accountability. By addressing the unintended consequences of our discovery laws, these reforms will help restore survivors’ ability to seek safety and justice through the courts.”

    Willow Domestic Violence Center of Greater Rochester President & CEO Meaghan de Chateauvieux said, “Governor Hochul’s proposed discovery reform is a critical step toward strengthening protections for survivors of domestic violence. By ensuring sensitive information is safeguarded and survivors are not retraumatized through the legal process, this proposal prioritizes both justice and safety. We are grateful for the Governor’s leadership and commitment to building a system that better supports those who courageously come forward.”

    Brighter Tomorrows, Inc. Executive Director Dolores Kordon said, “Domestic violence victims face many obstacles in their quest for justice. Measures that create a pathway towards safety for themselves and their children is critical. Streamlining the discovery process helps to ensure fairness for victims.”

    Beit Simchat Torah Senior Rabbi Emerita Rabbi Sharon Kleinbaum said, “As Senior Rabbi Emerita of Congregation Beit Simchat Torah (CBST), co-founder of the New York Jewish Agenda, and a lifelong advocate for equality, I deeply appreciate Governor Hochul’s leadership in advancing these critical changes to New York’s discovery laws. The discovery amendments that the Governor and the Legislature enacted this budget honor the spirit of the 2019 reforms—protecting the rights of the accused—while addressing unintended consequences that have harmed victims. These thoughtful amendments preserve the rights of the accused and do right by victims, ensuring our justice system works for everyone it touches.”

    Garment District Alliance President Barbara Blair said, “The Garment District Alliance thanks governor Hochul and the state legislature for recognizing and addressing the serious need to modify NY’s discovery laws. GDA has been a first-hand witness to a justice system compromised by opportunism with regard to discovery. Strengthening these laws are an improvement step in restoring credibility and fairness to the judicial process.”

    Times Square Alliance President Tom Harris said, “We commend Governor Hochul for standing strong and delivering reforms to discovery rules for all New Yorkers so victims will no longer be denied justice for technicalities. New York still has the most transparent criminal justice system and protects the rights of the accused while making sure that New York is safe for all.”

    Chinatown Partnership Executive Director Wellington Chen said, “To see and hear directly from the domestic violence advocates and victims talk about their experience and the impacts this change in New York Discovery Laws mean to them make it clear why this is so necessary and why the inscription on the pediment says it all: “the true administration of justice is the firmest form of good government.”

    Village Alliance Business Improvement District Executive Director Scott Hobbs said, “We applaud Governor Hochul and the Legislature for advancing thoughtful reforms that bring fairness and accountability back to our justice system. In our community, small businesses were left vulnerable by the well-intentioned changes to the law in 2019, but the unintended consequences led to cases being dismissed on technical grounds—leaving victims without recourse and emboldening repeat offenders. These essential changes will help ensure that crimes against Greenwich Village’s small businesses are taken seriously, that victims can seek justice, and that due process remains protected for all parties.”

    Staten Island Economic Development Corporation President & CEO Mike Cusick said, “I applaud Governor Hochul for her efforts to build on record crime prevention investments while safeguarding fair trials and accountability as part of the FY26 State Budget. For our small business owners, this means a justice system that works faster, protects community safety, and supports a more stable environment to live and do business on Staten Island.”

    Noir et Blanc Owner Deborah Koenigsberger said, “A done deal! As she promised, Governor Kathy Hochul got it done. So grateful to our Governor who stood her ground on behalf of small businesses like mine! BRAVA Governor! Thank you for fighting with us!”

    Family Services CEO Leah Feldman said, “At Family Services, we stand with victims of crime every step of the way. We thank the Governor for treating discovery reform as a human issue. Ensuring trauma-informed and survivor centered systems protects victims’ rights and promotes justice, strengthening the ability of victims to safely participate in the legal processes meant to protect them without being retraumatized.”

    Citizens Crime Commission of NYC President Richard Aborn said, “At its core, the criminal justice system must be based on a careful balance. The right of an individual who has been accused of a crime to a fair and open trial is of paramount importance. The government has no greater power than to deprive some one of their liberty. Before it can exercise that power, the government must be held to a standard that ensures a just outcome. The balance is struck when the rights of the accused are carefully juxtaposed with the right of the government to fully present its evidence within constitutional and statutory bounds. With the governor’s steady leadership, the legislature has moved New York State law closer to striking that balance. The changes in the discovery law will continue to offer those accused of crimes very high levels of protection from unjust outcomes while removing obstacles that unfairly impinged on prosecutors’ ability to prove their cases. This is a classic win-win.”

    Antioch Baptist Brooklyn Pastor and President of AACEO Rev. Dr. Robert M. Waterman said, “Governor Hochul’s leadership in reforming New York’s Discovery Laws strikes a balance between protecting defendants’ rights and advancing justice for victims—strengthening public safety while ensuring fairness and accountability in our legal system.”

    God’s Battalion of Prayer Pastor Rev. Al Cockfield said, “Public safety is the cornerstone of the faith community and of Black and brown communities, and we are grateful for Governor Hochul’s support in keeping us safe. These changes to discovery delicately uphold transparency while targeting repeat offenders who terrorize our city. No New Yorker should be afraid to go to church or take their child to school. Today’s announcement marks a new day in our criminal justice system.”

    River of Life Church Pastor Donald Mapes said, “Thank you to Governor Hochul for spearheading the much needed reforms to the Discovery Laws. Lawyers must have the time and evidence they need to better ensure victims here in the Hudson Valley and across the State have the justice they deserve.”

    Women’s Equal Justice Director Jane Manning said, “These reforms will make a real difference for survivors and will reduce the number of cases dismissed for trivial technical violations. We still have more work to do, but this bill moves us forward in a powerful way. I cannot say enough how grateful we are to the Governor for standing strong to secure these very significant reforms. Without her commitment to fighting for victims and survivors, this important bill would not have been possible.”

    Coalition Against Trafficking in Women Executive Director Taina Bien-Aimé said, “We applaud Governor Hochul for her unflinching commitment to stand with survivors who have endured unspeakable violence at the hands of people who should have instead loved and protected them. The Governor’s vision of justice for victims and survivors of gender-based violence has carried the day in New York with these necessary changes to the discovery law, and is an example for the country as we continue the journey toward equality, especially for women.”

    Met Council on Jewish Poverty CEO David G. Greenfield said, “As the largest provider of domestic violence services in New York’s Jewish community, Met Council has seen firsthand the heartbreak when survivors summon the courage to seek justice—only to have their cases dismissed over minor procedural errors. Governor Kathy Hochul’s reforms to the state’s discovery laws directly address this injustice by ensuring that serious cases are no longer derailed by technicalities. These changes restore faith in the legal system and offer survivors a real path to safety and accountability. We applaud Governor Hochul for her unwavering commitment to protecting victims and strengthening justice for all New Yorkers.”

    Urban Resource Institute CEO Nathaniel M. Fields said, “URI is grateful to Governor Hochul and the State Legislature for their work to protect survivors of domestic and gender-based violence. The deal struck on discovery strikes the right balance and will ensure that survivors can access justice and safety through the courts. As the largest provider of transitional housing for domestic violence survivors in the country, we look forward to our continued partnership to prevent harm, increase safety and reduce recidivism by investing in violence prevention and accountability work with people who have caused harm.”

    Staten Island Community Board 2 Chair Fred Giunta said, “Staten Island Community Board 2 recognizes the importance of updating New York’s Discovery Laws to ensure that survivors have the necessary tools to seek justice, while also upholding the right to a fair and timely trial. These changes are vital for fostering accountability, protecting due process, and strengthening trust in our legal system. We also appreciate Governor Hochul’s commitment to this issue by allocating $135 million in next year’s budget to support its implementation.”

    Westerleigh Improvement Society President Mark Anderson said, “We are pleased to hear that Governor Kathy Hochul has signed into law, commonsense changes to the discovery requirements in pending criminal cases. These changes are reasonable not only for the prosecution, but also for the defense. These new requirements create a more productive process by relieving the undue burden of providing unnecessary evidence or omitted or incorrect evidence from causing the case to be prematurely dropped. Provisions are also welcomed, that provide a timely process for challenges of the evidence, which will create an expedited defense for those charged. We are also grateful to our elected state officials and especially the efforts towards this successful legislation by District Attorney Michael McMahon.”

    Richmondtown and Clarke Avenue Civic Association President Carol Donovan said, “The 2026 Discovery Laws reforms are welcomed efforts to improve the criminal justice system, and public safety overall. We want to thank Governor Hochul for including these public safety changes in the State budget.”

    Port Richmond Strong North Shore Alliance Vice Chair Mario Buonviaggio said, “The critical investments in public safety and changes in the discovery laws for the 2026 State budget will ensure perpetrators are held accountable and victims of crime are not denied justice on technicalities. We thank Governor Kathy Hochul and Staten Island District Attorney Mike McMahon for these critical changes to the discovery laws that will make our local communities safer.”

    Forest Regional Residents Civic Association President Neil Anastassio said, “Our civic association supports the discovery changes in the 2026 State budget secured by Governor Hochul, in partnership with our Staten Island District Attorney, which reforms timelines and procedures in criminal trials. These reforms will assure that all evidence is allowed to be considered during trials, thus protecting the rights of those accused as well as the victims of these crimes.”

    MIL OSI USA News –

  • MIL-OSI Australia: Rangers crack down on illegal activity in South Burnett State Forests

    Source: Tasmania Police

    Issued: 7 May 2025

    Queensland Parks and Wildlife Service (QPWS) is issuing a strong reminder to visitors about the serious consequences of illegal activity in State forests and national parks.

    Rangers have observed a concerning increase in unsafe and unlawful behaviour across State forests and national parks including Wondai and Benarkin State Forests in recent months, with a number of fines issued over the Easter holiday period.

    Of particular concern is the number of adults and children riding unregistered motorbikes, not holding valid driver licences and failing to wear helmets, increasing the risk of serious injury.

    Rangers detected an increase in people camping without a permit which impacts on the visitor experience through overcrowding and places unnecessary pressure on facilities and amenities.

    Recent enforcement activity has resulted in the issuing of several Penalty Infringement Notices (PINs) including:

    • $1209 issued for operating a vehicle with an unrestrained child
    • $322 for failure to wear a helmet while riding a motorbike
    • $322 for camping without a permit
    • $322 for driving/riding an unregistered vehicle

    QPWS Senior Ranger Luke stressed that the same rules that apply in public and on public roads also apply in state forests.

    “These rules exist for a reason. Those who choose to disregard these regulations are putting themselves and others at risk, damaging these delicate ecosystems, and spoiling the camping experience for responsible visitors.

    “A State forest is not a motocross track, and when people go off-road or ride dangerously, they put themselves at risk, destroy vegetation and cause erosion.

    “You would not do it in the main street of Wondai, the local botanic gardens or your backyard, so don’t do it in a State forest or national park.”

    Ranger Luke also highlighted the importance of camping permits.

    “Permits help to prevent overcrowding, protect wildlife and ensure a safe and enjoyable experience for all visitors.

    “At just $7.25 per person, a permit is a small price to pay to camp in some of Queensland’s most spectacular locations. Camping illegally can end up being a very costly mistake and can result in a $322 fine.”

    QPWS will continue to conduct regular patrols of State forests in the South Burnett including Wondai and Benarkin State Forests, and those caught breaking the law will face heavy penalties.

    Any illegal activity in national parks and State forests can be reported anonymously by calling 1300 130 372.

    MIL OSI News –

  • MIL-OSI New Zealand: Serious crash, SH29, Kaimai Mamaku Conservation Park

    Source: New Zealand Police

    Emergency services are at the scene of a serious four-vehicle crash on SH29, in Kaimai Mamaku Conservation Park. 

    Police were called about 6.40am. 

    Initial indications are one person has sustained serious injuries, while several others have sustained moderate or minor injuries. 

    The road is blocked and traffic management is in place.

    Motorists should avoid the area, or expect delays.

    ENDS 

    Issued by Police Media Centre 

    MIL OSI New Zealand News –

  • MIL-OSI: Mountain America Credit Union Recognized as Utah’s Top SBA 7(a) Lender for Fourth Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    SANDY, Utah, May 08, 2025 (GLOBE NEWSWIRE) — Mountain America Credit Union has once again been recognized by the Utah District Office of the U.S. Small Business Administration (SBA) as the state’s top 7(a) lender by dollar amount for 2024. The award was presented during the SBA’s annual awards ceremony held on May 1, 2025.

    A Media Snippet accompanying this announcement is available in this link.

    This honor marks the fourth consecutive year that Mountain America has earned the distinction, having previously received the top 7(a) lender recognition in 2021, 2022, and 2023. The SBA 7(a) loan program is the agency’s primary vehicle for providing financial assistance to small businesses, and this award underscores Mountain America’s continued commitment to supporting the local business community.

    “At Mountain America, we believe small businesses are the heartbeat of our communities. We’re honored to be recognized by the SBA once again, and this achievement reflects our ongoing dedication to helping entrepreneurs succeed,” said Sterling Nielsen, president and CEO of Mountain America Credit Union. “Our business lending team works tirelessly to provide the resources, guidance, and capital our local business owners need to grow and thrive.”

    In addition to the Utah SBA district rankings, Mountain America stands as the nation’s top credit union SBA lender for total number of loans.

    Through its partnership with the SBA, Mountain America has helped hundreds of small businesses gain access to the funding they need to expand operations, create jobs, and build a stronger Utah economy. The credit union continues to enhance its lending services and outreach to ensure business owners receive timely, personalized financial solutions.

    Empowering Small Business Success Stories

    Mountain America’s impact can be seen in the success of its business members, like Alfonso Porras, owner of Sir Walter Candy Company. Sir Walter Candy Company was recently named the 2025 Small Business of the Year and Porras will go on to compete at the national level. His journey highlights the power of small business innovation and resilience, backed by strong financial partnerships.

    “It’s an incredible honor to be named the 2025 Small Business of the Year. Mountain America believed in our vision and helped us grow when we needed it most,” said Porras. “Their support has been key to our success and continues to empower us to dream bigger.”

    Additionally, Mountain America played a pivotal role in the success of Sun Print Solutions, co-owned by Jennifer Pettinger and Sara Deneau. In 2024, they were honored with the Woman-Owned Small Business of the Year award. A beacon of success in a traditionally male-dominated industry, Sun Print Solutions was recognized for its business innovation, leadership, and community involvement. When they needed assistance purchasing the land their business occupied, they turned to Mountain America for support, securing a foundation for continued growth.

    According to the SBA’s 2024 Small Business Profile, the 34.8 million small businesses in the United States account for more than 99.9% of all businesses. These small businesses provide jobs to 59 million people, representing 45.9% of private sector employees in the U.S.

    Mountain America offers a variety of financial resources and options to small business owners. These services include expert guidance and resources to improve business productivity and streamline finances through attentive, personalized services. This is achieved by featuring a full cash management suite of products, enhanced expense management business credit card software, merchant services, and top-of-market deposit rates.

    To learn more about Mountain America’s small business solutions, please visit macu.com/business.

    Loans are made on approved credit.

    About Mountain America Credit Union
    With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

    Contact: publicrelations@macu.com, macu.com/newsroom

    The MIL Network –

  • MIL-OSI USA: New Dashboard Shows Importance of Peers in Mental Health Wellness and Substance Use Recovery

    Source: US State of North Carolina

    Headline: New Dashboard Shows Importance of Peers in Mental Health Wellness and Substance Use Recovery

    New Dashboard Shows Importance of Peers in Mental Health Wellness and Substance Use Recovery
    hejones1

    The North Carolina Department of Health and Human Services today announced the release of a new dashboard highlighting the success of North Carolina’s Peer Warmline. The Warmline is a free resource for people experiencing emotional difficulty, mental health issues, substance use challenges, or for those who just need to talk with someone who understands what they are going through. Since launch, warmline counselors have received more than 67,000 calls, and 99% of callers who responded to a recent survey expressed satisfaction with the support they received. The dashboard launch coincides with Mental Health Awareness Month in May.

    “Mental Health matters to all of us, and we are committed to ensuring everyone who needs care can access that care when they need it and in the setting that is most appropriate for them,” said NC Health and Human Services Secretary Dev Sangvai. “For many, having the opportunity to speak with a Peer Support Specialist is critical in their wellness journey, and these numbers show how effective this resource is in North Carolina.”

    The dashboard provides a snapshot of how many people call the line, the general reason they called, how long they spent on the line and how satisfied they were with the support they received. Support from others with lived experience has been shown to reduce hospitalizations and emergency room visits. The North Carolina Warmline is available 24/7 by calling 855-PEERS-NC (855-733-7762) or calling the North Carolina 988 Suicide and Crisis Lifeline and asking to be transferred. 988 is available to anyone who needs crisis support for themselves or a loved one. North Carolina’s 988 dashboard shows more than 134,000 calls in the past year with calls answered within 14 seconds on average. These are two of many resources available in North Carolina if you or someone you know needs mental health care. 

    “When someone we love is struggling, we want them to have support that is accessible, compassionate, and effective,” said Kelly Crosbie, MSW, LCSW, Director of the NCDHHS Division of Mental Health, Developmental Disabilities, and Substance Use Services. “The Peer Warmline offers people a chance to connect with someone who truly understands – someone who’s been there. This new dashboard shows us just how valued that support is, with a 99% satisfaction rate among tens of thousands of callers. It’s one more way we’re working to build a behavioral health system that meets people where they are, whenever they need it.”

    Community crisis centers are another key feature of the state’s behavioral health system, offering safe places where individuals can get help without going to the emergency room. These centers are one of several options if you are experiencing a mental health crisis. They offer immediate help with mental health needs and treatment for alcohol or drugs. Most are open 24 hours a day, 7 days a week and don’t require appointments or insurance. Visit the NCDHHS website for crisis services to find a location near you.

    If you are struggling and need someone to listen and understand your situation, a mobile crisis team can also come to you. The team is made up of one or two helpful and caring counselors who can meet you at your home, school or somewhere you feel safe. NCDHHS has a list of mobile crisis teams you can call 24/7 across North Carolina. 

    To support youth across North Carolina, NCDHHS partnered with Somethings.com to offer a free mental health peer mentorship program for all teens struggling with depression, anxiety, eating disorders or other emotional trauma. The digital service connects teens with mentors and clinical providers who are trained to offer social and emotional support. Users can talk or text with their mentors through the Somethings app whenever it works for them. Somethings says 77% of users have reported that their services have been more effective than traditional therapy.

    The 988 Suicide and Crisis Lifeline is free, confidential, and available any time, 24/7. You can call or text 988 or use the chat function at 988Lifeline.org. Individuals who speak Spanish can connect directly to Spanish-speaking crisis counselors by calling 988 and pressing option 2, by texting “AYUDA” to 988, or by chatting online at 988lineadevida.org or 988Lifeline.org. Trained counselors are also available for veterans and members of the LBGTQI+ community.

    The NC Recovery Helpline is dedicated to advocating for, connecting with and educating North Carolina citizens seeking help for themselves or a loved one struggling with substance use and/or mental health. Individuals can reach the Recovery Helpline via phone (1.800.688.4232), text (919.703.1872), email (help4recovery.org), or chat.

    Additionally, NCDHHS has a wealth of suicide prevention resources for people struggling with their mental health, providers treating people in need of mental health care and communities impacted by suicide.  

    El Departamento de Salud y Servicios Humanos de Carolina del Norte anunció hoy el lanzamiento de un nuevo tablero que destaca el éxito de la línea Peer Warmline de Carolina del Norte. La linea Warmline es un recurso gratuito para personas que experimentan dificultades emocionales, enfermedades de salud mental, desafíos de uso de substanacias o para las personas que solo necesitan hablar con alguien que entienda por lo que están pasando. Desde su lanzamiento, los consejeros de la línea Warmline han recibido más de 67,000 llamadas, y el 99% de las personas que llamaron también respondieron a una encuesta reciente expresaron su satisfacción con el apoyo que recibieron.  El lanzamiento del tablero coincide con el Mes de Concientización sobre la Salud Mental en mayo.

    “La salud mental es importante para todos nosotros, y estamos comprometidos a garantizar que todas las personas que necesitan atención puedan acceder a esa atención cuando la necesiten y en el entorno que sea más apropiado para ellas”, dijo Dev Sangvai, Secretario de Salud y Servicios Humanos de Carolina del Norte. “Para muchos, tener la oportunidad de hablar con un especialista en apoyo entre pares es fundamental en su viaje de bienestar, y estas cifras muestran cuán efectivo es este recurso en Carolina del Norte”.

    El tablero proporciona una vista instantánea de cuántas personas llaman a la línea, la razón general por la que llamaron, cuánto tiempo pasaron en la línea y qué tan satisfechos estaban con el apoyo que recibieron. Se ha demostrado que el apoyo de otras personas con experiencia vivida reduce las hospitalizaciones y las visitas a la sala de emergencias. La linea North Carolina Warmline está disponible 24/7 llamando al 855-PEERS-NC (855-733-7762) o llamando a la Línea 988 de Prevención del Suicidio y Crisis de Carolina del Norte (North Carolina 988 Suicide and Crisis Lifeline) y pidiendo ser transferido. La linea 988 está disponible para cualquier persona que necesite apoyo de crisis para sí misma o para un ser querido. El tablero 988 de Carolina del Norte muestra más de 134,000 llamadas en el último año, con un promedio de llamadas respondidas en 14 segundos. Estos son dos de los muchos recursos disponibles en Carolina del Norte si usted o alguien que conoce necesita atención de salud mental.

    “Cuando alguien que amamos tiene dificultades, queremos que tenga un apoyo accesible, compasivo y efectivo”, dijo Kelly Crosbie, MSW, LCSW, Directora de la División de Salud Mental, Discapacidades del Desarrollo y Servicios de Uso de Sustancias de NCDHHS. “Peer Warmline ofrece a las personas la oportunidad de conectarse con alguien que realmente entiende, alguien que ha estado allí. Este nuevo tablero nos muestra lo valioso que es ese apoyo, con una tasa de satisfacción del 99% entre decenas de miles de personas que llaman. Es una forma más de trabajar para crear un sistema de salud conductual que va al encuentro de las personas donde estén, cuando lo necesiten”.

    Los centros comunitarios de crisis son otra característica clave del sistema de salud conductual del estado, que ofrece lugares seguros donde las personas pueden obtener ayuda sin tener que ir a la sala de emergencias. Estos centros son una de las varias opciones si está experimentando una crisis de salud mental. Ofrecen ayuda inmediata con las necesidades de salud mental y tratamiento para el alcohol o las drogas. La mayoría están abiertos 24 horas del día, los 7 días de la semana y no requiere citas ni seguro. Visite el sitio web de NCDHHS para obtener servicios para situaciones de crisis y encontrar una ubicación cerca de usted.

    Si tiene dificultades y necesita que alguien escuche y comprenda su situación, un equipo móvil de crisis también puede acudir a usted. El equipo está formado por uno o dos consejeros serviciales y comprensivos que pueden reunirse con usted en su hogar, escuela o en algún lugar donde se sienta seguro. El NCDHHS tiene una lista de equipos móviles para situaciones de crisis a los que puede llamar las 24 horas del día, los 7 días de la semana en Carolina del Norte.

    Para apoyar a los jóvenes de Carolina del Norte, NCDHHS se asoció con Somethings.com para ofrecer un programa gratuito de tutoría entre pares de salud mental para todos los adolescentes que luchan contra la depresión, la ansiedad, los trastornos alimentarios u otros traumas emocionales. El servicio digital conecta a los adolescentes con mentores y proveedores clínicos que están capacitados para ofrecer apoyo social y emocional. Los usuarios pueden hablar o enviar mensajes de texto a sus mentores a través de la aplicación Somethings siempre que les funcione. Somethings dice que el 77% de los usuarios han informado que sus servicios han sido más efectivos que la terapia tradicional.

    La Línea 988 de Prevención del Suicidio y Crisis es gratuita, confidencial y está disponible en cualquier momento, las 24 horas del día, los 7 días de la semana. Puede llamar o enviar un mensaje de texto al 988 o usar la función de chat en 988Lifeline.org. Las personas que hablan español pueden comunicarse directamente con los consejeros de crisis de habla hispana llamando al 988 y oprimiendo la opción 2, enviando un mensaje de texto con “AYUDA” al 988 o chateando en línea en 988lineadevida.org o 988Lifeline.org. También hay consejeros capacitados disponibles para veteranos y miembros de la comunidad LBGTQI+.

    La Línea de ayuda de NC Recovery está dedicada a abogar por, conectarse con y educar a los ciudadanos de Carolina del Norte que buscan ayuda para sí mismos o para un ser querido que lucha contra el uso de sustancias y/o la salud mental. Las personas pueden comunicarse con la Línea de Ayuda de Recuperación por teléfono (1.800.688.4232), mensaje de texto (919.703.1872), correo electrónico (help4recovery.org) o chateo.

    Además, NCDHHS tiene una gran cantidad de recursos de prevención del suicidio para personas que luchan con su salud mental, proveedores que tratan a personas que necesitan atención de salud mental y comunidades afectadas por el suicidio.

    May 8, 2025

    MIL OSI USA News –

  • MIL-OSI Global: Donald Trump has reduced tariffs on British metals and cars, but how important is this trade deal? Experts react

    Source: The Conversation – UK – By Maha Rafi Atal, Adam Smith Senior Lecturer in Political Economy, School of Social and Political Sciences, University of Glasgow

    The US president called it a “very big deal”. The UK prime minister said it was “fantastic, historic” day. For sure, Keir Starmer and his team will have been delighted that the UK was first in line to negotiate adjustments to Donald Trump’s sweeping tariffs announced on “liberation day” just a few weeks ago. But what might the trade deal between the UK and US actually mean? We asked four economic experts to respond to the Oval Office announcement.

    Wins for the UK are real, but limited

    Maha Rafi Atal, Adam Smith Senior Lecturer (Associate Professor) in Political Economy, University of Glasgow

    The new UK-US trade announcement is less a breakthrough than a careful balancing act – partial, tactical and politically calculated.

    Key UK wins are real but limited. Tariffs on British metals and autos are eased, thanks in part to the UK government acquisition of the Chinese-owned Scunthorpe steelmaking facility, removing a longstanding US objection. But even auto tariffs are only scaled back to the general baseline of 10% and not eliminated.

    Agriculture and tech remain the real stress points. The UK has granted market access to US agricultural products, including beef, but crucially without changing its food safety standards. This sidesteps a domestic political fight and avoids undermining the UK’s Northern Ireland arrangements or its EU alignment. Still, if US beef doesn’t meet those standards, the market access may prove meaningless in practice – setting up future pressure points.

    Perhaps the most notable UK win: it retains its digital services tax on US tech giants. That tax hits Silicon Valley hard, and the US wanted it gone. Instead, the announcement punts this to future talks – holding the line for now, but not securing it permanently.

    This isn’t the long-anticipated UK-US free trade agreement. It’s not a treaty, not comprehensive, and not ratified. It’s a limited, executive-level arrangement with more questions than answers – and more negotiations to come.

    Stronger ties and badly needed growth to come

    David Collins, Professor of International Economic Law, City St George’s, University of London

    This deal is an excellent development that should help restore the UK-US trade relationship to what it was before President Trump took office for the second time. At the time of writing, few details about the arrangement are known. But the 25% tariff on UK steel and aluminium has been removed, as has the tariff rate on most car exports – from 27.5% to 10%

    The lower car rate applies to the first 100,000 vehicles exported from the UK to the US each year. Around 101,000 were exported last year.

    More details are promised in the coming days and weeks. Perhaps they will include an agreement which separates the UK from any restrictions that the US intends to impose on the film industry. In return, the UK might eliminate its digital services tax on the US (which I argue it should never have imposed because it will only raise prices for consumers and generate little revenue).

    But overall, it seems clear that the Labour government has prioritised the UK’s relationship with the EU, evidently seeking as close as possible a connection without formally rejoining. So, while this agreement with Trump is well short of a comprehensive free trade agreement, it is a welcome development that should strengthen Anglo-American ties and bring some badly needed economic growth to both countries.

    Political theatre for both sides

    Conor O’Kane, Senior Lecturer in Economics, University of Bournemouth

    This announcement is a framework for a trade deal rather than an actual formal completed agreement. Trade deals are detailed, complex and take many months to negotiate.

    The US and the UK are both countries with massive persistent structural trade deficits. It is very unlikely that what has been announced will significantly shift the dial on either country’s structural deficit or growth forecast.

    Jerome Powell, chair of the US Federal Reserve, recently warned that Donald Trump’s tariff policy risked higher inflation and higher unemployment at the same time, what economists call “stagflation”. The president’s announcement will prove a welcome distraction from Powell’s comments.

    The deal should perhaps be viewed as symbolic. Trump’s US tariff policy has been chaotic to date and his administration finally has something they can point to as a win in the aftermath of “liberation day”.

    Of course, a trade deal is also a good news story for the Labour government after disappointing local elections. Prime Minister Keir Starmer can claim economic credibility by being first in line for a trade deal, perhaps cementing the “special relationship”.

    Mini-tariffs on UK cars.
    balipadma/Shutterstock

    However, is the US a reliable partner to sign a trade deal with? During his first term, Trump signed a free trade deal with Mexico and Canada (the 2020 United States-Mexico-Canada Agreement, or USMCA – the successor to Nafta). At the time, he said the deal “will be fantastic for all”. But he subsequently reneged on it.

    There is also a wider strategic element to this. First, the US wanted to get a trade deal in place with the UK ahead of what looks like a comprehensive EU-UK trade deal coming down the line. Second, Trump sees the EU as an economic rival. By signing a deal with the UK, he is signalling to other European countries the possibility of a potentially better trading relationship with the US outside of the EU.

    Deal leaves the door open for EU relationship

    Sangeeta Khorana, Professor of International Trade Policy, Aston University

    The agreement is a tactical win for both countries. It eases trade frictions, supports key industries and sets the framework for a broader UK-US free trade agreement without impacting on the UK’s economic reset with the European Union.

    The UK–US agreement, which suspends some of Trump’s recent tariffs, is sector-specific and far from comprehensive. It preserves UK food safety and animal-welfare standards. And it safeguards post-Brexit EU links while allowing the UK to cement its strategic partnership with Washington. Talks will be launched on aerospace, advanced batteries, data flows and services liberalisation within 12 months.

    This is a timely coup, coming so soon after the India deal. The pact represents a strategic diplomatic gain that brings tariff relief (and potentially the associated uncertainty) for key British industries, while also preserving UK’s regulatory alignment with the EU.

    Maha Rafi Atal is sometimes a volunteer organiser for the US Democratic party/candidates and has no party affiliation or involvement in the UK.

    Sangeeta Khorana is Professor and endowed Chair of International Trade Policy at Aston University.

    Conor O’Kane and David Collins do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Donald Trump has reduced tariffs on British metals and cars, but how important is this trade deal? Experts react – https://theconversation.com/donald-trump-has-reduced-tariffs-on-british-metals-and-cars-but-how-important-is-this-trade-deal-experts-react-256240

    MIL OSI – Global Reports –