Vlispxpert's Underground

[vlispxpert]

AllanP,

CNES, you need to read those filings big time, here is an excerpt:

As of October 24, 2003, we had outstanding 526,534,342 shares of common stock, of which all but approximately 351,924,000 shares were unrestricted under the Securities Act of 1933. As of October 24, 2003, we also had outstanding options, warrants, promissory notes, convertible debentures and preferred stock that were exercisable for or convertible into approximately 837,161,000 shares of common stock, approximately 805,201,000 of which are covered by registration rights. Sales of a substantial number of shares of our common stock in the public market, or the perception that sales could occur, could adversely affect the market price of our common stock. Any adverse effect on the market price of our common stock could make it difficult for us to raise additional capital through sales of equity securities at a time and at a price that we deem appropriate.

Conversion or exercise of our outstanding derivative securities could substantially dilute your investment because the conversion and exercise prices of those securities and/or the number of shares of common stock issuable upon conversion or exercise of those securities are subject to adjustment.

We have issued various notes, debentures and warrants that are convertible or exercisable at prices that are subject to adjustment due to a variety of factors, including fluctuations in the market price of our common stock and the issuance of securities at an exercise or conversion price less than the then-current exercise or conversion price of those notes, debentures or warrants. As of October 24, 2003, the closing price of a share of our common stock on the OTC Bulletin Board{R} was $.0049. On that date, our notes, debentures and warrants outstanding with adjustable conversion and/or exercise prices were convertible or exercisable into approximately 781,987,000 shares of our common stock. The number of shares of common stock that these


They recently added another 12 million in an s-8, plus they just filed for a late filing...Sounds like they are buried, so be careful bro...read those filings...

http://www.pinksheets.com/quote/filings.jsp?symbol=CNES