Thank you.
Good afternoon, MM. Davies, Banville and Larche. I feel a bit uncomfortable about the fact that you're seated here seeking a reduction or cancellation of royalties on what's called ephemeral recordings. I believe the principle you're advocating is that you represent radio stations or own radio stations that belong to the major groups of Corus and Astral and that you're consequently not making a lot of money and profits and that this is an unbearable financial burden. Is that correct, Mr. Banville?