Thank you for the question.
You will recall that it was during the COVID‑19 pandemic and there were not yet any vaccines. Various federal and provincial organizations and various organizations around the world were trying to help business people make it through that period.
Let me give you an example to illustrate this. During the COVID‑19 pandemic, a holding company with $20 million in revenues saw its revenues drop to zero within a few hours.
There was a tremendous amount of discussion around the world about supporting businesses. SDTC was no different from other organizations around the world that were concerned about business and technology. The board members had a discussion to adopt what we call an omnibus resolution, which applied to all of the files. As a result, all companies with access to SDTC funding would receive an additional 10% to 15% in funding, depending on the company, to help them weather the tough times. That funding was intended to support businesses and business people that were at high risk as a result of collapsing supply chains. The goal was really to save those companies.
It was an omnibus resolution because we did not have a list of the companies. The board discussed that. We discussed whether or not we should adopt the omnibus resolution. I want to point out that the CEO, the president, the chair of the governance committee and the members of the governance committee attended that meeting. For my part, I was just a regular board member. We decided to get a legal opinion from Ed Vanderberg from Osler, which is one of the big law firms in Canada. Mr. Vanderberg told us that adopting that resolution would not create a conflict of interest because it was an omnibus measure.
So I followed the lawyer's advice. When serving as a member of a large board such as that one and when a legal opinion is sought, we follow the lawyer's advice, generally speaking. That's what I did.
I don't know if I have answered your question.