Assuming Nick means the calendar year (2015), my earlier...

Assuming Nick means the calendar year (2015), my earlier projections were:

FY2015
Bull Case: $1,005,095
Base Case: $791,251
Bear Case: $577,408

FY2016
Bull Case: $28,776,510
Base Case: $16,929,360
Bear Case: $6,219,360

Considering those numbers are the fiscal year, we take half the FY2016 projections and get:
Bull Case: $14,388,255
Base Case: $8,464,680
Bear Case: $3,109,680

Add it to FY2015 (the major contract revenues started in Q2 so we don't need to halve FY2015 figures).

Calendar Year 2015
Bull Case: $15,393,350
Base Case: $9,255,931
Bear Case: $3,687,088

Announcement: Potential addressable revenue more than $10M (assume $10M).

Looks like my Base Case was slightly exceeded and Bull/Bear scenarios fairly off (closer to Bull). Happy with my analysis, but will tweak the numbers again. Not enough time in a day for me to do everything! Ugh.

EDIT: Agree with what was said above though. "Addressable revenue" is not the same - I believe Nick may be calculating potential upscaling into this. Also, from my understanding the "Purchase Order" is not a legal contract until AJX comes up with terms and both parties sign off on it. It means the company was approached with an offer by another company and they'll figure out the contract terms before it's finalised.