Cannon Exploration Inc. (fka CNEX)

[Super Dave]

Being that the PPS is what it is when he diultes shares CNEX don't get as much.

This dilution might not be like a secondary offering, where shares are sold on the market at the going price. I get the impression that this is negotiated deal with private investors, and they get the shares at a discount. They then choose either to sell or hold.

So it is entirely possible that ALL of the dilution we have seen occurred at $0.0001. We won't know until someone talks.