The document summarizes the current state of the OpenIndiana Hipster project. It discusses the project's tasks like migrating to new compilers and build systems. Recent updates to the 2015.03 ISO are outlined, including desktop software, development tools, and server software updates. Current issues include some consolidations still needing to migrate to the new build system and outdated Perl and Python versions. The main challenges are a lack of developers and collaboration between the different Illumos distributions.