That's a really impressive background, and it sounds like you are the person we need to speak with if we want to understand this industry. Maybe we could start with what are your very high-level impressions of Journal Technologies based on what you've seen?

One of the other things that struck me about Journal Technologies, considering the existing landscape of courts in the United States, is that they offer a simplified option for smaller courts.

If you could drop the link, that'd be great because I'm calling in.

Okay, I can do that. In a nutshell, many courts have moved away from two things. First, they are getting away from trying to code their own software and create their own case management systems. It has become too complicated for the available resources that most courts have in-house. So, one major direction is moving to either off-the-shelf solutions or customized solutions through an individual. That's one major trend.

As you look out over the next decade, what risks do you envision for companies like Tyler Technologies or Journal Technologies? If you were running those companies, what would you be most worried about?

Historically, court budgets have been 80% or more focused on personnel. That’s where our major costs have always been. In some courts, it's over 90%, and they just save a little extra money to buy some paper, pencils, and items like that.