Dec 2018 SBL

1 Rent a room = Airbnb. I could rent out a room in my house at any price and conditions I see fit. 2 No fire safety requirements, no reception, no staff wages, no VAT. 3 That's usually the way when letting a single room. Of course hotels can advertise there as well, but accommodation market has really been shaken up by this technology and big hotel chains don't like it.

1 The project lasts several years and the payment schedules show that lots of construction needs to be completed before payments are received. So, lots of working capital funding is needed. 2 Exhibit 2 para 5