Thank you very much.
Nettwerk was founded 30 years ago in Vancouver and has since grown into an international music company employing over 80 people offering record label, publishing, and management services to a diverse roster of recording artists, producers, and songwriters. I would very much like to thank the Canadian government and the Department of Canadian Heritage for renewing the Canada Music Fund. These funds have had a significant role in the development of both Nettwerk as a business and the artists we've had the pleasure to work with. Indeed, the early international success of Sarah McLachlan can be tied to the support received from FACTOR.
As everyone is already very well aware, the ministry has undergone significant changes in the retail landscape for recorded music. Nettwerk has always prided itself as being at the forefront of identifying those changes and then adapting to and leveraging new technologies and innovations. However, even with that foresight we had trouble reacting to a dramatic shift in the physical retail market in 2008 and 2009 where products were returned en masse. The support of the Canadian Music Fund during that period was invaluable in allowing Nettwerk to—