Replies to post #7315 on Cannon Exploration Inc. (fka CNEX)

[Carnac]

Smitter I think I told you and the board that I fully expected 360 mil dilution 3-4 weeks ago. Hell you know the stock I have been following all day has a 481 mil float. I think anything below 500 mil for a penny stock is good.

[Scragapenny]

That's more than a little dilution and it is in conflict with an earlier comment from the company stating that they were done with dilution.

At this point I see no reason why they won't dilute this down to the fully authorized share amount. almost 85million dilution in less than a month is a crap ton. A veritable 33% increase in a float is a HUGE increase.

I hate to think that this is going to play like every other pink out there, but it is looking like it given the share update.

I will definitely be holding now so I can average down bigtime once this gets to .0004 or lower.

What a deflating update that was. The potential of this company is going downhill in my mind now. I'm downgrading it in my official potentiality chart (that I keep on my desk) from "Hold and Buy" to "Flipper". Take that for what it's worth...

It did take longer for me to downgrade this on my chart than it took PMDP, THRR, SARO, ELCR, or SNRS... I guess that's a good thing.

[kirbling]

Thanks for the update smitter!

[Tanaka]

Thanks smitter for getting that update for all the CNEX shareholders here

[afxm]

The O/S looks very reasonable.