Cannon Exploration Inc. (fka CNEX)

[kirbling]

According to the filing the company started selling around 10/16/2009 and the stock price dropped off shortly after that then rebounded. My understanding of Form D's is not extensive but I know that most states will not allow a company to issue it's stock below par value.

CNEX's par value is .01 so my logic is that they cannot sell for less than .01 and who in there right mind would invest $5000 to buy stock from the company at .01 when it's currently trading at .0012. I think we have to rebound above .01 before the company has a chance of issuing more shares.

We all know that every stock has it's own charecteristics but I would like to point out that KATX filed a Form D on 10/16/2009 and we all know what happened after that.

This is all my opinion and I'm only speaking from what I've learned on my own with no formal training.