Ann: Armour Energy to Receive $6m in Gap Grant Funding, page-12

I understand that AJQ has 405,175,941 shares listed on the exchange. Assuming its' stated revenue doesn't rise but remains at $2 million / month that equates to an annual income of 5.92 cents per share. I don't think that's all that bad for a share selling at ~8cents. If it had an outgo of 4c/s that still leaves a surplus of 1.9c/s. So what's the PE of AJQ on the 5.92c and then the 1.9c . Is there something wrong with the price sitting at ~8.3cps or am I missing something of monumental importance.