Cannon Exploration Inc. (fka CNEX)

[GoldBandit]

Funding ?

How is CNEX going to fund the proposed work this May? They have no money, the CEO just gave himself 300,000,000 new shares at .0001 cents and CNEX has a note payable for $36,834 that can be converted to 368,340,000 new shares. The problem is I don't see any cold hard cash? A drill program of any significance costs hundreds of thousands of dollars. Is CNEX going to issue more shares at .0001 cents to pay for the drill program? If so, how many new shares are going to be created?


Here is a link to the most recent financials.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32207