Help With A Date Function

[refiking]

I am trying to check if the $biddate has already passed.  The bid date is always today's date at 2:00 PM.  What do I need to change here:

 

$thetime = date("m/d/y h:i A");
$bidtime = date("m/d/y").' 02:00 PM';
if($thetime > $bidtime){
echo 'it is';
}
echo $thetime . '<br>' . $bidtime;

[veridicus]

I prefer strtotime...

 

$bidtime = strtotime('today 2:00 PM');
   if(time() > $bidtime){
     echo 'it is';
   }
echo $thetime . '<br>' . $bidtime;