For Defense, Aerospace & Capital Allocators
The disclosure record, documented.
First Light reads the primary documents behind the UAP/NHI disclosure story and tells you what they actually say — every factual claim linked to a source you can open, every judgment labeled as ours, every unverified claim marked unverified.
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Latest issue
The Annual Reports, Read In Full
Brief 002 · Free issue · reference date 7 October 2026
Brief 002 compares AARO's FY24 and FY2025 report wording, records source-access limits, and separates the reports' assertions from our analysis.
Method
Every sentence sits in one of three registers
Nothing on this site is presented as fact because it sounds plausible or because someone important said it. You can see which register every sentence is in before you read it.
Sourced Fact
VerifiedRetrieved from a primary document and read by us, with the publisher, the document date and a link attached. If we cannot point you to the document, it does not appear in this register.
Assertion
AttributedTestimony, allegations and circulating claims, reported as claims made by a named party — never converted into findings of our own.
Our Analysis
FencedOur reading of what the documents mean, in its own clearly marked section. You always see where the document ends and our judgment starts.
Limits, stated. Where a source was refused to us, unreachable, or only partly read, the issue says so and the claim stays out of the Sourced Fact register. An issue that under-claims is worth more to you than one that over-claims.
Who it is for
Written for people who have to act on it
Defense & Aerospace
Program, strategy and contracting readers who need to know what the agencies have actually published — and where the public record is silent.
Investors & Capital Allocators
Public-market and private-capital readers who want documentable facts separated from rumor before it reaches a position, a memo or a diligence file.
Policy & Legal
Staffers, counsel and advisers tracking hearings, agency reports and records channels, with every primary source dated and linked.
We cover published government material: agency releases, hearing records and transcripts, annual and historical reports, and the official archives and records channels. We have no access to anything classified, and we claim none.
What it costs
Free now. Paid when it exists.
The brief
Free
- Every published issue, on the site, no signup required to read.
- Every factual claim linked to its primary source, with the publisher and date.
- The three registers — sourced fact, assertion, our analysis — on every claim.
- A sources list per issue, including anything we could not open.
Sector reports
Checkout is not yet open$29–$49 / month (intended)
- Sector deep-dive reports: defense and aerospace, capital markets, policy and legal.
- The same sourcing standard as the free brief, applied to one sector at a time.
- Every claim traceable to a public document we retrieved and read.
This tier does not exist yet: no checkout, no card, no trial. The free brief above needs no checkout at all. We will say so here when the paid tier opens, and the price is our stated intent, not an offer.