What seems to be the problem is that there is no 'company' and 'shareholder' separation. Since a buyback is when 'the company' buys shares back from 'the shareholders', and since 'the shareholders' are 'the company', this makes any definition of a buyback meaningless in the context of the DAC. Is this right? I have heard people talk about 'buybacks' in the context of BTS, what could these people have been talking about?