Regenx Tech Corp. RGXTD

I think it takes a few days, not weeks

[BurconNutriFan]

Every shareholder who oversubscribes is a separate calculation that has to be correct. Also every account you have is a separate calculation. 
The allocation is done by eliminating each oversubscriber who gets his allotment, then reallocating among the remaining over-subscribers until they either run out of unexercised rights or there are no more over-subscribers left. In other words, if one guy with 100k rights over-subscribes for 10 shares which is .01%, and everyone else over-subscribed for more than .01%, then this guy is first in line to drop out. If there are enough unexercised rights to give over-subscribers more than .01%, they all get that amount to start. Then the computer looks for the next person to drop and the process continues, over and over. The brokerages have to check these splits so it takes some time before they are comfortable enough with the allocations to put them in each account.  
I have rights in 3 accounts at the same brokerage. I wanted to oversubscribe by 12% in total, so to be safest, I went over by the exact same 12% in each account, in case there wouldn't be more than 12% available. If I over-subscribed by 14% in one account and 11% in others and they only had 12% available then my 14% account would only get 12%.

[Drywall]

Doesn't it make more sense to fill all of the subscriptions, which would then have a certain amount of rights left over.  Add up all the oversubscriptions and do simple division, with the remaining rights, to calculate what percentage of the remaining rights is allocated to them ? eg.  300 million rights, of which 200 million are subscribed, leaving 100 million available.  200

[BurconNutriFan]

No, using the numbers in your process would allow someone with a measly 1,000 rights to get 50% of the oversubscriptions, just by putting up the $750k cash on Thursday. If one guy has 1,000 rights and oversubscribes for 100 million shares, the circular rules say he is not going to be given 50 million with the other 50 million spread over all the remaining guys. That would be hugely unfair to the

[BurconNutriFan]

If all the other oversubscribers just bid for 50 million and the guy with 1,000 rights happened to bid for 50 million then he gets his order totally filled. That's fair to all.

[BurconNutriFan]

I see now that I misunderstood your suggested method. Here's the correct answer. The problem with your method is people oversubscribe for varying % of their rights so some don't ask for 50%. That's why the dropout method is used. 

[Drywall]

Makes sense.  Thank you for the clarification :)