Generally speaking the escrow period only applies to the extent of the discount.
Using a case example if you have invested as follows:
Bought 12,500 @ $0.16 = $2,000
IPO 12,500 @ $0.20 = $2,500
You can trade the $$ you invested only, in this case being 10,000 shares.
2,500 shares will be escrowed.
Hope that helps.
Wolf
