Tournament play + penny poker = all kinds of shit

BUT has a general rule, when the blinds are low, make your preflop raises larger, ESPECIALLY microstakes. Here you raise to minimum 120 preflop. Then you probably don't get 4 callers. Let's say you get 1-2 callers. Then your flop bet should be pot minimum (early in tournament). Here you betted 150/240 pot = 2/3 pot. I would of betted 200-240. Later, when the blinds become larger (say 50-100), 3x BB should be enuff and 2/3 - 3/4 pot continuation bets should be fine.

That's how I would of played it, and it's strickly my opinion.