Ann: Placement Completion Announcement , page-13

Gassed :
Why would anyone sell at .26 and not be registered for the SPP at .22??? Get your SPP entitlement and THEN sell if you have to, but, not BEFORE.

The record date was yesterday, so technically if you owned 1 Icon share you could be entitled to up to $15000 at 22 cents.

But you could also sell tomorrow, and still be entitled to your full $15000. I think the wording of the announcement locks them into that.

Companies in the past have also allowed people to indicate whether they would like to purchase shares over their alloted amount if other people under subscribe. I once ticked that box and got a wad of cheap shares (can't remember the company now...maybe STX). Loyal (i.e. those that don't sell at open tomorrow) or larger shareholders may be given access to these extra shares if they are available. Icon may or may not do this, but I've seen it in the past. We'll have to wait until the actual documents are posted.

How many shareholders does Icon have? From that you can figure out the upper limit of the amount they wish to raise.