Ann: Preliminary Final Report-SW1.AX, page-19

Interesting, interesting! I appreciate your responses guys. One more question and then I'll be feeling pretty confident in SW1:

1) In the investor presentation they say recurring revenue is extremely high - as inferno31 mentioned - close to 90%. My only issue with this statement is that: this figure will be anchored on their projects in the mining and resource sector.

The reason I see the 90% as potentially fallacious and inaccurate is because the mining and resource projects serviced by SW1 are in the next 1 - 2 years coming to completion. This means that now 1,000 people will be needed to simply run each project rather than the 5,000 odd people needed to actually build the site. This concerns me because whilst SW1 will continue to service the projects - and hence can state in its presentations that it has high recurring revenue - nevertheless, the actual revenue they'll generate from each project should decrease as the number of workers/rooms occupied decreases. Is this thinking correct? If so, how do you think SW1 can overcome it! I'd suggest it's again through dominating the hospitality and aged care sectors, which again, in my view means we're backing their potential to successfully enter into these new markets.

Don't get me wrong, I seriously like the stock and am considering buying it! I am just wanting to smooth out the uncertainties before investing.

Thanks guys.