Is anybody clear on whether the raise for existing shareholders...

Is anybody clear on whether the raise for existing shareholders must be capped at $1.5M? Some of the documents say up to $8M and maximum shares to be issued consistent with this. Then in other parts it says this is at the absolute discretion of the company. I'm sure some have been selling 100+K shares at .24/.245 etc and buy them back at .23 through the SPP + pick up 33k options. $1-1.5K in the pocket + a bunch of free options for each holding. I suspect some were lucky enough to get wind of this early and took a lot more. But what would happen if it is oversubscribed - can they give everyone what they put in for and take extra cash or will it have to be scaled back? Any ideas?