So this is more or less how it works.

Perfect.

I think that pretty well covers off the fundamentals of the business.

I'd like to talk about your strategy going forward.

But I think it might be helpful to provide some historical context for our audience.

I classify Celnex into three distinct phases or its equity story into three phases.

The first phase, I think you call it something different, but I call it the debt-fueled M&A spending spree, which I believe began in 2016.

i think that uh yes it's important to keep monitoring the complementarity between sat networks and terrestrial networks but for many years in front of us the possibility of a full substitution is simply non-doable