To be honest, wherever we don't close an LOI, there has been something typically fundamentally different that has occurred during the due diligence phase.
From those five, usually three will provide a letter of intent, or LOI, with an offer outlining the basic terms of the deal and the price that they will pay.
As soon as it moves into the phase where, okay, we're pre-LOI, we're starting to move forward, we're putting this in front of our investment committee for approvals, I'm already involved.