Early Stage M and A

We will buy businesses with revenue only. We have to be sure, because we're a public company, they're gong to get to profits relatively quickly and that our value benefit gets them to profits fairly quickly. Most of the about a third to slightly more of the deals we've done in the last seven years, most of those have been businesses pre profit. You cauld argue what we're doing is using m and a as a direct replacement to capital investment ourselves. So hethan investing capital and building that platform or that code or that system, were buying other assets and integrating them in. It's a sort of different way of deploying capital. But through early stage m and a,