Swift Networks Group Limited (STV) Earnings Call Transcript & Summary

Hello, and welcome to a bit of a briefing on our recent announcement with regards to Opal HealthCare. We have a lot of people on the call today. So please we'll sort of take questions maybe at the end, just to be able to manage things a bit more easily. Really just wanted to introduce everyone to our new sort of TV product. And this is really what has global deal to the table. This is our new CTV product, which is basically very much a commercial plug-and-play product that's Google certified. So what's in the box is effectively a nice elegant remote control with high contrast bonds and a very small matching boxes effectively comes at the HD by cable plugged into the back of the TV any TV with the HMI and can make that TV a fully operational, functional smart TV. And the way to give you a bit of context, way to think about the product, it's very much -- has all the functionality of say, an Apple TV device or a Google TV device, but it is a commercial device product. So it can be used within hotel environment, within the aged care environment to provide a whole range of functionality beyond just downloading movies from the Internet and sorting out your movie playlist. It allows people to order things through the system. It allows people to provide messages, whether that's on a mine site, it allows a whole level of integration within a client system. So effectively, this is the culmination of probably 4 years of development in terms of the user interface and user experience. So that's consider that the software that goes on the box, the actual development of the hardware for the box. But also very importantly, the middleware. And for those who don't know, the middleware is effectively that technology that integrates our system and what's displayed on the TV into client systems, whether that's the alarm warning system on an oil rig or the ordering system within a hotel environment. So that's where that middleware aspect comes into it. So we've purposely developed middleware programming that's easy to integrate into new systems with clients. So before I just go into the Opal deal, I'll bring up our demo of really what Opal has bought as part of this deal. It's basically this is demo of our aged care product, which basically provides a whole lot of functionality for aged care, which could also be used in the hotel environment, which we'll adapt and in that -- for that environment. But we also have a similar user interface, which is also specifically designed for our home market, which was mining. So for us, the Opal opportunity is a fantastic opportunity for us because it really puts us in a great position out of fantastic point in time, and I can't stress this enough. And the reason why it's such a great point in time is not just from an investor point of view, but from where we sit in the industry. So Opal is the largest age care provider in Australia, it's something like 13,000 rooms over 142 care communities. So the actual aged care industry is about 220,000 rooms across Australia. So for us to have Opal sign up with Swift to effectively replace, they have Foxtel on some of their sites, so they're actually replacing that with our system and moving slowly across the Swift. The timing of that is perfect because there's the big national aged care seminar on at the end of this month on the 30th, which is called Aging Australia, and that's 1 of the Gold Coast. So just have the industry see the major provider move to Swift. And also 1 of the reasons why Opal has adopted the Swift product is because it actually meets the needs of the new legislation that's due to be enacted on the first of November. So all these pieces fit together quite perfectly and puts us in a fantastic position with in regards to the aged care industry. So we've been trying to really track the HK industry for probably about 3 or 4 years now. So initially, COVID came along and really put an end to any introduction of our product in that industry. But then more recently, 1.5 years ago, the government announced these changes to the legislation and the approach around the payment of additional services in aged care. So the new approach flexibility and a lot of the existing systems and a lot of the existing management of that didn't really allow for that. So our system is not only designed technically to have that flexibility in it, but also we've responded to that commercially. And that's because we have spent the last 1.5 years working with the industry, working through the issues that this new legislation has thrown up to produce this product. So when you look at the basic Swift platform, this is being developed in conjunction with Google, so strict rules as to what goes where and how we do things to have that consistency. And that's part of having that Google certification so that we can get access to all the apps that sit on the Google Play store. So this provides easy accessibility whilst maintaining control of the actual TV screen in the resident's room. So people aren't having to jump in and change sources. So if you look at what we can provide, it's an ability to go straight into Netflix. The log-ins and all those sort of details can be put in. And in the case of aged care, Nectin stay there because it's a resident as opposed to a guest experience. In a hotel type environment, we would integrate within the system, the same as through aged care. So once the guest leaves any log-in that they've put into the TV system into our system is a majorly cleared on their checking out. So that's something which is part of that integration aspect. So there are so many threads through the integration aspects that are very important to different industries that the set the Swift system part as a true commercial enterprise-grade system as opposed to something that just has apps on it. So this allows providers to have full access to all of these apps the same as they would on a smart TV, but for a considerable cheaper price. And that's where the box is a huge saving probably a quarter -- less than 1/4 of the price of our existing technology. So on top of that to give you a bit of an illustration of what we're doing with Opal. For instance, we have the ability and we have our own app that allows family members to take pitches or videos during the day, and upload that directly into a residence TV set. So it's not going to a mobile phone that's probably sitting under the bed and it's flat. It's not going to a tablet that's out of batteries and flat in the corner is going straight to the resident TV. So that's the sort of tech that we can provide. It's very specific to aged care. What we're doing with Opal for instance, is integrating into their system for the menu for each resident. So Opal have their own unique management system, proprietary management system that they've developed that has all the details of what each resident will be beating for their next meal. So the ability for us to integrate into that and display that menu is quite critical. And that's something which our technology allows us to easily and seamlessly do. It does take maybe a week of development time and make sure everything links up, but that's how easy it is to move into a client's specific system. So that's 1 that Opal actually developed for themselves. We also integrate into an activity schedule. So for instance, it's a weekly or monthly activity schedule that is provided by Opal that would basically allow us to render all of that sort of detail on the screen on their TV, so residents can see it easily. I could also provide warnings to the resident at the pottery classes on 11 a.m., get ready to go do that. So that gives you just some idea of the functionality that's particularly attracted Opal to our system. On top of that, in terms of integration, 1 of the requirements in the aged care industry is the ability to do surveys of all residents every quarter. And that has to be actually provided to the government. So the government can actually give a rating system on aged care homes. Previously, that's been an app that the staff have to go around to each resident and get them to fill out, which is extremely time consuming, obviously, and the provider of that Atlas is cortical Tell touch. We've worked with them to provide an ability to get their app on to the TV screen, so the resident can just use the remote control, cliff on a smiley face or a grumpy face whatever they prefer to do. and that instantly gets uploaded into their system and then rendered as part of this report. So we don't get involved in actually running the report. What we get involved in is putting that onto the system to give it that extra functionality. We also partnered with Check in care to provide data do a lot of software functionality in residential aged care. And that allows for instance, family members to maybe buy a dining experience or a gift for a resident. And this is something where the notifications can be easily put through the TV through our system. We also provide the ability to do live streaming in time with integration, medication schedules. Any other detail that basically the provider can easily do for their residents. We also have all the community aspects as well. This is where the family photos are uploaded. The residents themselves can see themselves in photos, we have a management interface. It's very simple. We've based interface that basically the staff can upload photos onto and it also just increases that sort of that resident experience. The whole system is designed to also connect into any other TV radio system or even other pay-type TV systems. And what the system has is it's quite time dependent. So it allows residents to or the system to understand. If a resident likes to watch Channel 9 at 4:00 every day, the channel 9 badge and button will be the most prominent thing that appears on the screen at 4:00. So it learns what the residents viewing habits are, and that's very important in terms of accessibility for high-care patients. We also provide a suite of wellness type content on aged care specific exercise content. So this sort of shows you, I suppose, the depth of the basic platform in terms of functionality. So in the agreement with Opal, Opal are looking at rolling out this entire platform to their sites over time. Initially, I think there's 4 sites in this year, and then it will move quickly up to probably about 90-plus sites in the near term. And basically, the only, I suppose, a limiting factor there because this product is now very much product-led in play. So it's a lot easier and cheaper and quicker to install than our previous version. It will allow people to technically get this up and running very quickly. The only thing that takes a bit of time is getting -- is basically teaching residents how to use or teaching the providers had to use it. But even then, our system is and our user interface is a lot more intuitive than our previous system. So it allows a lot more ease of use. So we should see quite quick adoption of the system through our Opal, and as each residential care community comes on board, the term of the contract will be 36 months from the term from when they come on board. So in the announcement, we talk about minimum revenue per site in the case of a 100-room site. That's based on just the -- on the installation cost and the platform, the basic platform per room. The way our system and our commercials respond to the new aged care legislation, in that we have to offer flexibility and choice. So the basic platform is available for everyone. Hopefully, have taken the view that -- this is -- this will really help our business in terms of helping with menus, helping with providing basic content, whether it's from laxation. They very much the need to have content as opposed to the 1 to have content. But from people who want to have the optional entertainment app, that's something which, as eventually we talk about additional revenue from the optional TV entertainment package. This is something where in aged care, because of the change in legislation, this has to be flexible and people can opt in and opt out. So the way the industry is looking to respond to this particular change in the legislation is to offer premium packages. So the premium package might consist of vacant at breakfast or full cook breakfast, maybe a glass of wine, maybe headdress disappointment and importantly, a TV-based entertainment package. So that then encourages the residents to take up that package or the family to choose to take up that package which would provide an additional revenue stream for the provider but also for Swift itself. So it's something which we also manage, for instance, with Opal automatically. So as the residents choose to take it up or not. It basically can automatically integrate with our systems and how we build this product as well. So we offer not just 2,000 movie catalog of and also brand new release movies because we have a movie release window ahead of the streaming services. We can also offer curated classic cinema content and content that's designed more for aged care than maybe the younger demographics. But having said that, when the family goes to visit aged care, it's always great to have a new release children's movie on to keep them entertained, which is we find quite important, actually. So this opportunity is huge for us in terms of where we sit in the aged care market. But also in terms of really validation of where we have been working alongside not just Opal, but a number of other providers to come up with what we hope is the standard for the aged care industry moving forward. So on the back of the Asia are Australia Conference at the end of the month, where we expect to see a lot of inbound interest and a lot of consolidation of the interest that we've already generated from this product. So we will -- on a very busy year, I think rolling this out over the next year or so. In the wider sort of context, we've only really announced the Swiss TV product to the market or was it last month, actually. And since then, we've already had a lot of inbound interest in our other markets, for instance, in mining, which is where Stromtraditionally, we've already had a large group wanting to resell our product in that area. And of course, possibly even beyond mining. And we've also engaged with a group in the hotel market to look at selling this product in the hotel market, not just in Australia but also Southeast Asia initially. So there's a lot of scope in other markets. So as a business, it's very much our view of establishing reseller relationships, both within Australia and internationally for our product. and really so that we don't end up increasing our overheads beyond our current levels and keep these things contained because really as a business over the last few years, we've focused on being the developer and producer of this box, as opposed to effectively doing network upgrades and getting involved on that side of the business. That's something which we're sort of moving our focus across to effectively finding partners and getting our box into wider markets. Also to bear in mind, the aged care market is something where there's a lot of application for this sort of technology in the English-speaking countries, Canada, the U.K., U.S. and New Zealand, all areas where they could be quick adopters of this technology. And there's a lot of ability to move with providers, for instance, a bupa that's a major provider in Australia. -- they also have something like 130 care sites in the U.K. So if we can get Bugaacross in Australia, then that gives us a great brinchhead into the U.K. market for this technology. So because what found and really the driving impetus behind this product has been. What's out there at the moment is a fair few apps that do various things, and it's a bit all over the place. And at the end of the day, in a Care, the TV is a device of choice. A lot of apps have not been very successful because they either have to sit on a mobile phone and most people in aged care don't want to do more with the mobile phone than just talk through -- and if you go to tablets, someone then has to keep that tablet charged and make sure it's working. And that's just another impediment to the caring staff that have to look after these tablets and tend to get lost broken and things built on them. So there haven't really been great adoption of that. There's been a lot of time force people into that area, but it hasn't really worked. So there's a lot of functionality that's been developed for these devices, but what we provide is an ability to get that functionality rendered in a very clean, usable way onto a TV. So that's really our wheelhouse as a business, and that's what we will continue to be -- and that's why the Google certification of our product and the security certification is very important to us as a business. We've also -- as we -- if you look at the wider opportunities in both mining and the hotel industry, we have these rights to this new release, movie content -- and that's not just new really moving content from 1 particular studio. It's on a range of studios, and we've already been talking to our providers who have given us these rights for Australia and they're very keen and willing to look at supporting us to take those same rights internationally. So rather than having to -- as you know, at home by having to get 5 distant subscriptions to see a range of movies, because we have these relationships with multiple studios through an aggregator, we can get all those rights without having to do multiple deals as such. So it's worked out really well for us as most of the studios sort of get more decentralized about their own individual content. So that's quite an exciting opportunity for us to not just take the platform itself internationally as a device, but also to take the entertainment content.

Brian, sorry, Kana from Linx Advisors. Just a question. Can you talk about the sales cycle with your old device, CapEx, OpEx versus why are you getting now so much inbound interest after launch of this device last month.

Yes, sure. Mining is a great example of this actually because in mining, and this sort of reflects where Same from -- the installation of the previous device required -- we would buy the remote control from 1 supplier, the box on a different supplier have Google Chromecast attached to it. You'd have to cobble this together on site, pay the remote control with the box on site, so you end up with the customers are not $400 per room plus the head end and plus any upgrades to WiFi that would come with it. So suddenly be presented to a client and a large client we say 3,000-odd rooms. You're talking about something over $1 million of CapEx spend if you look at the mining market, CapEx spend is very jealously guarded -- it's basically the project guys who have control of the capital expenditure budget, they want to buy big kilowplant and do exciting things with that. rather than spend it on the working accommodation village. But then you have the guys who run the village, you have to manage the staff. They have a different budget, they have an OpEx budget. So with the move to where we're moving now with more of a plug-and-play device, where effectively, their maintenance staff can go and plug this into every room. The actual device almost lends itself to a monetization model, which we'd like to move to for the various clients. And basically, then it makes it entirely OpEx -- so you don't need to get the project guys involved. So you're not talking 2 teams to conflict with each other on a mine site and having to fit in with the project management schedule, along with the guys in HR or the actual village facility managers who want a system so they can actually support and talk to their staff and send them notices or send them updates or emergency notices and all these sort of things and functionality that we do. So that will really change. We've really seen that changing our sales cycle and becoming a lot shorter because suddenly, it's not this big impediment of $1 million spend before I've even got the thing plugged in, it's basically sign up to Swift you guys can install it will charge you x dollars per room from the minute you turn it on and off you go. So a lot more plug and play. It's a massive, massive change for us as a business and the ethos behind what we do at Swift. That question, that was good. So yes, the opportunities are very wide in both our home markets such as mining, even though we actually say have a capability to partner with people to do reselling in that market, we might have access to other players in that market. But we have been in that market for over years now and have major clients in both oil and gas and mining. We do everything from Shell prelude oil production vessel with 184 rooms on it. It's the biggest ship in the world that has an entire oil refinery on it to something like Hancock iron ore, which has a 3,000-room camp, which our system is rolled out. And we've recently installed our new user interface on that Roy Hill camp and they absolutely love it. So that's just the user interfaces that we released last year. Now we have the hardware that goes with it, that takes it up to the next level and gives us access directly to all those apps on the screen, which is a great bit of functionality and basically stops the need to buy smart TVs, which are quite expensive across the entire site just to get access to apps. And also because we actually manage the log-ins on the TVs, it stops all the issues with Smart TVs in terms of people trying to cast the different rooms or people leaving their log-ins on the screen, which is always a big issue when you're looking at 3,000 people on the mine site. -- creates a lot of paid dramas, which is something the mine sites don't want to deal with. Additionally, what we also -- we're talking to a number of large players in mining about the new system so that this new system has really opened up the door for us because it's really changed how they look at us as a business. So with the new product and in mining, when you look at, so the age care example, we can put, for instance, a whole lot of mining content and video content that is produced by the mining companies. For instance, they do a lot of employee assistance program content. So that's wellness content, how to deal with being on a mine site -- there's even financial planning content in that package. So they develop a lot of this video content and presently the employees have to basically use an app or get to a computer, put in their unique employee code to access this content. With our system, we can easily put it into the wellness tab on the screen and allow access to that content without people having to put their unique identifying details into it. So that's something that very, very important for staff so that they can -- the quite the loan times in their room, they can access this content quite privately. And if they want to take it a step further, they can through a QR code to engage with those providers should they need to. So it's something that the mines are very, very conscious of -- in addition to that, we can put in -- we do actually put indigenous content onto the screen as well, plus effectively training videos and other warnings or content onto the site. On top of that, we can also put the company's intranet or elements of that onto the screen, which it's quite important because you got to bear in mind that most people on the mine site aren't so in front of the computer all day. They're driving trucks there. They're basically on the tools. So for them, this gives access to important information that they probably wouldn't otherwise see because what happens on the mine side is usually put on a notice board in the wet most or some little bit of paper slipped under the door if you don't have this line of systems. So it's the only way that you can communicate to a lot of your employees -- and also our system allows communication to be individualized. So through the user interface of just quite a simple user interface, the company can either send out a message corporately across all sites -- or a site can send out a message or a notice that a barbecue is at to commence. They can also do notices to specific groups of individuals, whether it's contractors on site or new employees on the site to give them, here's the map of the site, here's some issues that you need to be aware of because there's construction work going on in this area. That's the sort of functionality that -- for the industry that's come from basically channel up channel down Foxtel for the last 20 years. This gives them a whole level of functionality that they never knew existed. So part of what we've been doing over the last year or so is really educating these companies that this type of technology exists. So they're looking at us not just to provide new release movies to all their crew and keeping them entertained, but it's all this other functionality. That's what really attracts our HR team and the HSC team, and it's a solid management team to our system. So we are seeing some big new opportunities coming to us, probably more so as an awareness of this product than just from the functionality of this product itself. It's so many people are going this shifting looks interesting. I haven't seen that before. And that's sort of where we're moving in that area. As I mentioned hotels earlier, that's something we'd like to partner with people on because -- that's an area we haven't been in for some time. We do sell some content into that industry, but we haven't really sold our own device into that industry for some time. So this new device gives us the opportunity -- and the way it would work within a hotel type environment, what's happened in the hotel industry over the last 5 years since Coveris they're basically almost given up on video on demand and actually making money out of movies. They all just relied on casting. And if you be to a hotel room recently trying to cast on TV screen, sometimes it works, sometimes it doesn't. People are very reticent to actually even put the device into the hotel WiFi now days, especially in Europe and in Asia. So there's a whole issue associated with that. With our system, the way it's designed, people going need to go straight into Netflix or into an app and just put their pass within knowing that at the end of their stay that password will be wiped out of the system. We can also next level is to integrate with hotel chains, where they actually have the actual -- your own passwords programmed into your device and you can actually download the app from the hotel, if you remember, and usually your actual phone as a room key, that can also hold on to pass but so you can walk into a room, turn on the TV, your Netflix is there with all your back catalog and what you've been watching, your Prime or whatever other videos, whether it's in tumor or whatever you've signed into is all readily available. Now if you've seen all that before, which most people probably have because we all spent half an hour picking through Netflix and don't find something we want to watch. We've got TV icon. Swift TV icon opens up basically all the 2,000-odd movies that we have and all the new release movies, which we can actually promote onto the screen. That then becomes something that the hotel chain can charge to their clients at may be $20, $30 a day for the accesses full gamut of movies. So even if they have people over the length of a month taking it up. That's maybe $150 of revenue, we'd probably be selling the system to a hotel for $30 per month they're well and truly paying for itself by doing that. So it's a great opportunity for hotels to get back into making money from movies again. So it's about ease of use and quality of product. That's what we're trying to bring to the table. Additionally, with our hotel offering, we'll be offering a concierge package that could fully integrate into their ordering system. So rather than I mean just scan a QR code on the screen and then going through your phone and then, okay, I'm charging that to my phone or is that my credit card or work credit card, you can basically bring up the menu in vivid color get that club sandwich. It looks great press on the button with the remote control and order it that way again, it's ease of use and stopping this steps to buy something, which is what sort of seems to be the trend in this world, we're trying to create easy user interface accessibility for them the hotel to generate revenue from people buying that club sandwich rather than just going old just get over eats or go across our own goods of KFC. So that's where we're sort of moving. And that's where -- that's our value proposition to the hotel industry.

Brian, I'll just ask 1 more question about -- you're talking about additional revenue streams for hotels with the new HK reforms coming in, can you elaborate why with this compelling to H operators because of the change in legislation and loss of revenue to them?

Yes. Yes. Well, that's where the previous system and what changes with the new legislations coming out in November is that aged care providers could -- as a condition of resident entering into a new site was charged on an additional services fee per day. And that fee could be quite large. It could range from $7 at the low end to -- we know people -- large groups changing up to $45 per day. So when I talk about per month per day. And that would cover a whole range of things. So we cover things like an entertainment package. It would cover cook breakfast it would cover a glass of wine, but dinner. We cover all these additional aspects that aren't covered by the standard rate per room per day that is regulated by the government. So what's happened now is that, that now has to be optional. So the providers such as Opal basically want to provide a platform to all their residents. They want to find this functionality because it's saves of money and time. But -- now they can also have the option of providing an entertainment package and really provide that entertainment package as part of a premium package offering. So that vacant with breakfast and the cook breakfast and the glass of wine and the Swift movies all become a package that they can offer as a premium package to the family when the resident is first joining and go this is available to you. This is x dollars per day. You get all of this wonderful package with suggesting sign up to that because most of our residents do and they find it very useful. So that's something which A lot of the providers see having the entertainment part in that package is very important to selling the other package. So they didn't have that, then the value of the package gets diminished in terms of its overall value proposition. So that's something which in the new legislation, residents are allowed to -- with the 28 days notice. Stop using that package, if they don't find it's value for money. So that's something which system has been designed technically -- to integrate into Opal systems. So as soon as the resin gives nonuse, Opal puts it on their system and say they're not going to do that package. -- our system would immediately respond and we would build Open accordingly for that number of rooms each month. So it's very much a response to that, both from a technical point of view and from a commercial point of view. Does that answer your question, Kai?

Yes.

Thank you. That's pretty much my side of the presentation. So any specific questions that anyone has, please feel free.

People can put the questions in the chat if they're interested. I think everyone except our microphones are new. So feel free to use such a function. In the meantime, I'll ask one, besides hospitality, aged care and mining, are there any other sectors that investors should be aware of that you're looking to explore?

Yes, definitely is, Genk. We're looking at also prisons as well. That's something we've been working on in the background, which is quite an exciting opportunity. It's also 1 that's been technically challenging because in the prison systems actually having Internet access into the present is a massive, big no-no. So there's a lot of I should say, security around that and firewall systems. So we've had to adapt a server-based system that can have our content, our movie content or a vetted content that they want, plus educational content to be available for Prison. So I think the first commercial application of that will hopefully be before the end of this calendar year. So we've been working literally for 2 years in developing this system, and there's a lot of opportunity for that around Australia because what's currently happening is in presence is they're actually sending physical DVDs to prisons and someone puts them into a DVD player and makes them available. That's the current method of doing things, which is hazard to say the least. And they want to move to something that's automatic and manageable.

And just for the investors here, can you quantify what the opportunity across all these verticals in terms of numbers looks like -- and how much of that have you bought? I think you've got 12,000 rooms and others another 9,000?

Yes. up 10,000 odd in mining 3,000 in aged care. So Opal really increases on our aged care rooms. So if you look at the -- sorry, the mining market in Australia, it's about 165,000 rooms, aged care is 220,000, then you've got probably about 300,000 in the hotel market. We've also got -- and this is something we've been looking at from a technology point of view is the in-home aged care/nDIS market, where there is this relationship with providers and services where their aged care services or NDIS services. where the TV can actually become a communications tool. So not so much using it for the entertainment aspect or more using it to provide notices to provide maybe on screen consultations with their doctors, their health care providers or even integrating the TV into their say, doorbell camera system. There's a whole ability to be able to integrate into a whole lot of other systems that allows, say, the aged care provider to warn the resident that their care is about to turn out. And here's a picture of their care. Hopefully, they're going to be knocking on your door bell within 5 minutes time. That's the sort of functionality we can do. That's a huge market. There's hundreds of thousands of potential rooms being residents at home that we'd like to also consider as part of our technology stack as we move forward.

In terms of competitive landscape, can you share some color on what's happening in that space?

In the competitors, our primary competitor historically has been Foxtel and Fox has 2 products. In mining, they just offer a 20 channel up and down satellite system. -- mainly because their business product requires a lot of bandwidth to use. And that's always been an issue in the mining market. Their system, the current hospitality system aged care systems called Business -- that was something that we licensed out of a group in Poland probably about 7, 8 years ago and introduced probably 6 years ago. It's quite an old system, which has a Google Chromecast attached to the side of it. which is actually no longer available in market. So it has some functionality. But with regards to Foxtel love being acquired recently by Dizon, and DAZN is a multinational, large company that basically is accumulating worldwide sports rights. So designed to our understanding for Foxtel largely for the AFL, NRL rights, not a small commercial business that does mine sites and aged care and hotels. So we're sort of what you can see what's going to happen with that business when there's an opportunity there, whether that will spin out of Foxtel potentially. We'd be very interested in that, if that was the case. So there's definite opportunities where there is a change in that industry. We're sort of seeing a real movement from Foxtel in mining order SKU group, just drop Fox still. I think they had about 8,000 rooms with Foxtel. So they're looking for alternatives, and there are sort of people we're talking to, to get the moment to Swift has been the viable alternative. I've got a few questions here on screen. Rolling out the systems, do you have enough cash -- and do you need to add more sales staff. Well, part of that is really where we look at trying to partner with resellers where possible. Yes, it would be great to have more sales staff and always have more people. But we've always really tried to work within our capacity. It's something which, as a business more cash could accelerate growth, but it's about using it effectively and having the right relationships. Our view is very much following the vein of deal flow to get to an increase in sales. So for instance, the Opal deal will lead to significant deal flow in the aged care market coming out of this aged care show, if we get someone like Bupa to take on our product that will get us into the U.K. market. So that's effectively how we're trying to address, say, the aged care market. But we're also looking for resellers. That will give us the ability to work internationally. We don't want to suddenly go Yes, we're going into the U.S. We hire 50 salespeople and try and do that. That's just not the way we operate. And I don't think that would be successful and just a great way to spend cash very quickly. And just looking another question, Tom. How long the contract negotiation with Opal take? We've been discussing with Open 1 shape or form for probably a couple of years now. It's really been not so much a case of continuing those discussions over 2 years has been the case that the new legislation change has got announced 18 months ago, and the industry has basically been trying to work out how to respond to those changes. Over been really good to work with. They've communicated with us what the preferences are, and that's helped us to develop a product that works both technically and commercially to provide them what they need. So they're very much -- they've been very good. You can really see they've chartered their course and they know what they're doing, and that's why we're working with them. From Darren, can you go through the commercials of the deal in particular the split of revenue per site between installation subscription monthly per unit? I don't want to get too much into disclosing that because it's sort of getting into sort of commercial pricing for these things. Really, we've sort of set the 80 does have an installation element to it. It is not the majority of that. It's a lower -- a much lower part of that number, probably maybe 1/4 of that number, maybe less. And that really means most of it is the ongoing. So Opal been great. They're willing to pay for the installation efforts for each of their sites. So it doesn't create a cash flow issue for our business. And that's sort of what we're sort of cognizant of is how much cash flow we have to being able to free issue the device. I mean, devices is probably part of what it costs in the previous device. So it does give us -- it becomes more of a disposable item, but it's something which, as a small company, how much cash flow do you have to be issuing tens of thousands of these out to the market, waiting for the revenue to come in. But having said that, the revenue can be on a per room basis could probably be repaid maybe 3 months generally for the device. So it's only that sort of level of cash flow impact that it would have on the business. And as our volumes go up, both through opening up new opportunities in aged care and also in the hotel space, the cost per box will come down considerably. We basically -- our cost per box is only based on 5,000 units at initial 5,000 units. So when we get into the tens of thousands of units, I'm sure we can put a bit of pressure on the pricing of these things going forward. Are there any other questions? I think I've got everyone's. But those of you who have my number, more than welcome, please give me a call at any time to chat as you put out further announcements to the market. I mean we're really excited about this. This is sort of to us is really just the beginning of us getting into aged care. And it's been a long time coming to this point. It's been I suppose, 2 years of hard work and keeping an eye on how the legislation changed and how all the providers respond to that legislation. But coming out of the box with the largest provider in Australia, who's as not just seen as the largest provider, but 1 of the most leading in terms of technology and how they respond to their clients. Seeing them come on board for the market is fantastic for us. So it's great, it puts up the share price, but I'm more interested in what this is going to do for the deal flow over the next few months. So we're going to be very busy getting these out of the door and negotiating as the numbers get bigger to sell more of these boxes out into the market. So once again, thanks, everyone, for your time. Really appreciate your attendance today, and please feel free to contact us any time to talk about anything Swift. Thanks very much. Goodbye.