Industry committee  As Paul mentioned earlier, the analysis we did historically was about a 30% reduction once you got to $600 million of enterprise value. So that's the basis we give it on both the increase in the threshold and the switch to enterprise value. So it's all together.

Industry committee  Certainly. The calculation for publicly traded companies, as Mr. Halucha just said, is the market capitalization based on our going back two months and over 20 days, plus assumed liabilities. It's a cost that the investor will incur less any cash on hand because it's money the investor is receiving.

Industry committee  Certainly. What they're describing is a situation where, in an SOE, because the valuation of the company is based on asset value, the asset value could in some circumstances be higher than the enterprise value. Perhaps the stock of the publicly traded company has been depressed for some reason.