Unidentified Analyst: Clearly, just given the environment that we’re in right now and the cost increases that everybody has incurred, some of them permanent, but the opportunity for a price adjustment to reflect increased cost, everyone’s accepting it. Sounds like you’ve got a product that’s in high demand that — and price is not the main determining factor in the purchase position for this. So, just a thought. Then, last — second part of this was just on the expansion plans, particularly as far as both Europe and with the United States, if you could maybe elaborate a little bit further as to which is the one that’s more of a top priority? And then, on the European, any thoughts as far as Europe? Does the EU have similar to GSA contract, national or not even national, but contracts within all the member states or are the incentive programs negotiated with the individual countries within the EU?
And have you given any thought at all in terms of strategy, whether it’s greenfield, partner joint venture with an established player in Europe?
Desmond Wheatley: Okay. So, from expansion point of view, I’d say you could break it down like this. From the Beam team point of view, U.S. expansion is the same as they’re concentrating on. From Desmond Wheatley’s point of view, European expansion is the thing that’s most important to me right now. And we do kind of — that’s — I will be that the sharp end of the spear where that European expansion is concerned, not just because I’m from there, but just because it’s appropriate that I would do. That’s a strategic type of negotiation, whereas the U.S. expansion will be something that’s more operational and administrative. And lots of really good talent on the team to do that sort of stuff. I don’t think it’s where my strengths would be best represented, but negotiating either in an acquisition or some other means of expanding into that market, maybe that’s where I think that my skills will be best represented.
So, to answer your question about whether we consider a joint venture or something like that, not in Europe. I think in Europe, we want to own it. We don’t want to give up any of the equity in that space. But there are other parts of the world where a joint venture makes a lot of sense for us. Those are parts of the world where you just don’t do well unless you’ve got a strong and powerful local partner. And so, I think you should expect to be very pragmatic about this. If I’m going into an environment where we think a strong and powerful local partner is good, then joint venture that if we’re going into a place where rule of law governs and where we want to own all of the equity, then we’re going to acquire or bootstrap. And I would say, acquire would be my preference on that just because of speed to market.
And then finally on contracting in the European Union, certainly there are buckets of money available at EU level that are being transmitted through the local states. And then I think we’re going to see a lot contracting within those states as well. But as you know, the government in Europe — governments and government in Europe tend to be a bit more engaged in sort of infrastructure expansion. There’s less of that kind of less a fair thing that goes on the U.S. where the markets are expected — the public markets and commercial entities are expected to take care of these things, and a lot more centralized infrastructure planning, et cetera, in Europe both at the national level and at the EU level. And I believe — and this is an informed belief, it’s not just a guess that our products are going to be very popular over there for all the reasons that the population in the United States are perhaps even more so.
