To get the timenow - 5 hrs, use:
$timenow = time() - 36005 (or just simplify 36005 and put in that #)
then convert $sessiondate to a timestamp using strtotime or something similar.
OR: you can convert BACK $timenow using strftime and compare it directly in MySQL.
I think the latter method is the best since you can include the converted timenow string in the SQL query.
-sridhar