RESULTS OF OPERATIONS
Comparison of fiscal 2007 and 2006
Our revenues declined from approximately $10,310,000 for the fiscal year ended May 31, 2006 to approximately $639,000 for the fiscal year ended May 31, 2007. Our revenue amounts do not include approximately $27,848,000 and approximately $48,965,000 in income resulting from our investment in Phoenix Digital Solutions, LLC for the fiscal years ended May 31, 2006 and May 31, 2007, respectively.
http://biz.yahoo.com/e/070814/ptsc.ob10-k.html
Factually, he is correct, for the last two years, income has been in "THE TENS of MILLIONS OF DOLLARS PER YEAR"
Be well