Moelis update, page-50

I've been trying to figure this out, and I think I've got it now. Please correct me if I'm wrong...

According to the foundations 2016 document the baseline revenue for 2016 is 18.5m. The 'top line' or best case is 44.7m. 4m for polymers is included as guidance towards the 44.7 but not the 18.5.

The moelis update just restates the guidance of a potential 4m - we don't actually know what the value of the new order is. As Nick said in his e-mail, they're now earning over the 18.5 but we don't know to what extent. I assume the recent flo R covering win also goes towards the 44.7 and not the 18.5.