FUNDAMENTAL ANALYSIS

Upon review of Select Financial Data (Box 1), investors have the opportunity to review revenue and earning estimates during the next three fiscal years. Management's numbers are actually very impressive. Up to this point no meaningful revenue and earnings have been generated. To date, PMKY has been joining alliances with content providers, forming an infrastructure within the internet in order to achieve planned growth, hiring qualified personnel and developing pricing, format and product variety and viability. From review of Graph E, Chart F, Graph 1 & 2, Chart B, it is easy to see that PMKY intends to conduct business within the confines of the internet (may not be any confines - sky may really be limit) and plans to conduct business within the Education industry, which in the US alone is a $660 billion business. If we take a look at US on-line retail spending, 1999 will reach $18.1 billion and anticipated to grow to $108 billion during 2003. These numbers are huge and when this is taken into consideration, PMKY revenue and earnings numbers during the next three years are doable! If they can deliver quality products at a competitive price, have successful internet marketing and limited overhead, then PMKY can achieve exceptional price appreciation above and beyond our more conservative valuations. We, of course, understand that many internet related issues trade at multiples beyond common sense and reason, but within any "new" industry "new" standards for value may have to be formulated. It may take years, but a value measurement will surface and will allow investors a more accurate tool to gauge price performance. Many believe that "clicks" and "eyeballs" will satisfy investors. We believe that revenue growth and earnings will remain the standard.

Revenue growth during the next few years will equal 125% from the end of 2000E through 2002E, while earnings will equal 150%. If PMKY can achieve these numbers, a reasonable PE must be assigned that will truly represent and reward shareholders with stock appreciation. If revenue growth equals 125% and earnings grow by 150% and we assign a fairly aggressive PE of 35, then our share valuation based upon earnings for year ending April 30, 2000, 2001, 2002 results in a share price of $11.55, $22.40 and $59.15/share, respectively. These numbers may sound outlandish and irrational, but look at the prices of other internet issues. We, of course, are not guaranteeing anything, but again, anything is possible.

Upon review of Box 2 (comparison of PMKY with other publishers of educational material), one can see that companies such as HTN, TUTR, SCHL and IDGB are much larger and much more established than PMKY, but do not offer a "pure play" within the internet for educational material and PMKY intends to do so. The average PE of the group mentioned within this box (HTN, TUTR, SCHL and IDGB) equals 20.5x 1999 earning estimates. If we assign a PE of 20.5 to PMKY and base it upon fiscal 2000 earning estimates of .33/share, our share price equals $6.75.

If we compare PMKY with another "pure play" internet information provider, namely Market Guide, Inc. (MARG) and valuate it in a similar fashion (see Box 3) with respect to an estimated PE, again we have the potential for huge price appreciation. According to estimates for MARG, it currently is trading at a PE multiple of 134x99 number and 58x00, if we assign PMKY with a PE of 50x and use the estimated earnings of .33 and .64, respectively, then a mind-blowing share valuation of $16.50 and $32.00, respectively results. "Pure play" internet companies are awarded such high multiples because of success - overhead costs are extremely low and profit margins are extremely high. PMKY will not need huge building expenses, shipping, personnel and raw material expenses because all business will be conducted via computer. If you want their product, you pay a fee and download it onto a disk or print the document. If the internet can work for PMKY, then it will generate huge profits with very little expense (largest expense content upgrades and marketing expenses).