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PNHL Revenues PR today...

The key will be to determine what's the fair amount to deduct as "Net Expenses" to determine what's the amount for "Net Income" or what you might simply see referred to as Income.

From their recent report, PNHL had "Net Expenses" in the amount of $277,318.17 for the first 5 months of 2008... Jan - May 2008. Simply divide that number by 5 to get a monthly figure for Expenses:
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=16375

$277,318.17 ÷ 5 = $55,463.63 Monthly Net Expenses

$55,463.63 x 12 months = $665,564 Annual Net Expenses

$2,000,000 Revenues for 2008 - $665,564 Annual Net Expenses = $1,334,436 Net Income

Net Income = $1,334,436
Outstanding Shares (OS) = 1,000,000,000 Shares

See below to see how I derived the Earnings Per Share (EPS):

$1,334,436 ÷ 1,000,000,000 (OS) = .0013 EPS

12 Conservative PE Ratio x .0013 EPS = .0156 per share value

This means that with using a conservative growth rate of 12 for the Industry in which it would trade, PNHL is currently worth .0156 for the year 2008.

Now the key thing to understand is that this does not take under consideration the value to be added from having the operating subsidiary of Extreme Fitness, Inc. I think the PR today shows more promise than what the market realizes right now. I still think it’s just a matter of time before PNHL is realized for its true value.