diff --git a/docs/finance/revenue-model.md b/docs/finance/revenue-model.md
index c5b2234..afc6a9e 100644
--- a/docs/finance/revenue-model.md
+++ b/docs/finance/revenue-model.md
@@ -484,8 +484,19 @@ What it changes:
   conditioned room. If the AD12 identification holds, three presses at
   Pheenix's 24 to 26 s cycle (~140 records/h each, vendor figure)
   nameplate at ~420 records/h, about twice the Bangkok pair's ~190 to
-  210/h above. That is installed capability, not output, and the table
-  above still counts Bangkok only.
+  210/h above. On the table's basis (60 to 70 % effectiveness, 8-hour
+  shifts, 300 days) that is **~2,000 to 2,500 records a day, ~0.6 to
+  0.76M a year on one shift, ~1.2 to 1.5M on two**, about what CNX's
+  launch plant makes at 60 % specials (0.58 to 0.90M), here from three
+  presses run by one operator (Pheenix: one per four presses). It holds
+  for black and solid colours only: the AD12 runs splatter in a
+  semi-automatic mode with the splatter kit, for which no cycle time is
+  published, and specials are what ResurRec is known for. Bangkok's own
+  figure, two presses at ~500 black or ~300 coloured records a day
+  (Bandwagon, 2023, when both were manual Newbilts), shows how far specials
+  pull output down. Three presses is what the photo shows; more may stand
+  outside it. Installed capability, not output; the table above still
+  counts Bangkok only.
 - **The Japan part of the export wedge narrows.** The positioning above
   counts regional labels shipping to Japan among CNX's market. ResurRec
   now presses inside Japan, so Japanese labels, and Thai titles sold there