No, I mentioned the five factors a little earlier in my presentation. In light of those five factors, I had no basis for believing that the expenses as claimed had been incurred. My next step was to see whether other considerations could lead me to reduce the impact of the five factors that were there. I therefore considered the advertising itself, among other things, but, when I studied it, I wasn't able to rule out the five factors that led to my decision.
On July 15th, 2008. See this statement in context.