Thank you very much, Mr. Sorenson. We're seeing applause for your comments.
I'm aware that we have very little time left for us to ask some questions. I think we have five minutes. I know that we want to respect the time, not only of our witnesses, who committed to being here for an hour, but also of our members, who more than likely have other things on their schedules.
Having said that, we do have five minutes. I know we started 10 minutes late and then had to do some sound checks.
I have a list of speakers who would perhaps like to ask some questions. This is the more fluid part of our meeting today.
I will start with Mr. Arya.