Mr. John Chamney:

Our company, Walsh Whiskey, has been operating since 2009. We decided that we wanted to progress to the next phase, which is to produce whiskey. We had a long-term contract with an Irish supplier. In the first instance, we set up a joint venture with an Italian company which has routes to market throughout the world. In the first phase we needed to lay down the stills and the still house, which is about one third if not more of the total investment. The second tranche is laying down the whiskey. We went to Irish banks and they did not know the language we were talking; they had no notion of the industry. Luckily we were skilled enough to find a British bank which was quite happy to commit to funding our development of laying down the whiskey.