Ann: Appendix 4C - quarterly-SW1.AX, page-12

I have only had a brief look at the quarterly. Will try to go through it bit more on the weekend. Day Job you know how it is. However it looks to me like we are manufacturing a lot of gear which is adding to our cost base. Very good sign IMO. Lots of rooms to fit out our STBox's in. $3.5mil in rev. Over 14mil in rev last FY. Hopefully manufacturing cost will not come down for this next half as we roll out into Swift Hotels and such. Repeated revenue for a majority of our income. If we were not expanding our cost base would be reduced substantially. Just say for instance we had no new customers. We would have turned a $2m profit for the qtr. What is that as a PE? 3-6 depending on how you look at it. Remember the IPO was 15c and how many months ago. Not a bad return and still looking very reasonable at this level. Wish i was on that. For the moment i am staying here. Any new news will filter very quickly to the SP. IMO FY17 rev will be somewhere north of the $14m FY16 and more than 10%. Good luck all.