Yes. First of all, let's remember that they applied for charity status around 2019, long before COVID, CSSG and everything else. Why you might not want to have real estate in your operating company is for liability reasons. If there is a problem, you want to put it sometimes into a holding company. It is very commonly done with for-profit companies when you think of how they operate with holding companies, operating companies, maybe multiple operating companies and things like that.
There is nothing wrong with that, and they said to CRA that this was going to be a holding company that was going to hold about $40 million worth of assets. Then they flipped it around and switched it around, which is fine too, and they changed the objects. I don't know if they got CRA approval. I just don't know, but they changed things so that it has broader purposes to be able to do other things. This was done in June of this year, and then it was being used for that.
That, I don't think, is untoward. What is weird is how they denied that it was ever a real estate holding company when it is so clear that it was, but then it was changed. What was more, shall we say, unusual, was that the government would agree to this. It's not that we would create a shell company.
If I were going to ask someone to pay me $100 million, it would be nice to say that I was going to set up a shell company so that WE Charity doesn't have any liability, but I have never.... I wouldn't say never. I can't recall a time when I've seen a government department give any amount of significant money to a shell. There could be good reason to do it, but I'm just not seeing it here, and I don't understand why they did it.