Mm-hmm.

At the start of the year, and just, you know, set, set the stage that, hey, we've seen extremely strong demand throughout 2025.

It was, you know, continuing into tw- uh, into 2026.

Um, and you know, part of the announcement we have today is, is, is related to, yeah, continued strong growth and demand for grading services in particular.

Um, but yeah, to recap kind of where we've been, so, so I've been now at the company about five years.

Um, that's when, um, our current ownership group took the company private.

It was February of '21, and so since that time, when we went private in February of 2021, PSA was grading cards out of one location in Santa Ana, California.

What are we announcing now in terms of additional infrastructure investment across a bunch of different areas here?

Like, I, I don't, um-

I think...

Yeah, I think your point, your point's pretty valid.

Um, people are pretty aware now, like the vast majority of the cards we get submitted are in under the bulk levels, and so that's, yeah, that's taking four, maybe even five months to get back.

So people are kind of aware that that's what it is going in to the submission, and they maybe submitted...

They, maybe they do an order every month, and so they just got a, a rolling thing.

"I'm getting an order completed every single month." But you're right, Jesse, they're, they're consciously thinking, "I might not have this current submission back until November, so I'm at least confident enough that, hey, there's gonna be a market and there's gonna be demand for these things." Um, I do think we still have really strong signals out there.

Well, I think you-

What does that look

like? Yeah.

Yeah.

And we, and we put up an article on, on the PSA website.

So if folks want to go there to PSA card.com and you can scroll to the bottom and there's a link that says articles and there's details that we've actually got a chart in there that I think visually helps tell the story a little bit.

You know, essentially like, like we we have grown our ability to to handle a lot more units a lot more capacity over the the five years since since nat and i have been involved with the company i think if you go back to 21 spring of 21 we were grading 15 to 18 000 cards a day um we're now grading anywhere from 90 to 100 000 cards a day and Five years ago, we were only grading in California.

Now we're grading in New Jersey, Florida, Texas, Tokyo, and we've expanded in our California location as well.

The acquisition of SGC, of BGS, do you guys think, let's say that never happened, do you think your demand would be what it is regardless? Or has that impacted PSA to get more cards and make this even more of an issue than it would have been?