On4 Communications Inc (ONCI)

[shotsky]

If a person requested this, it would be a private placement. Since it is an offering, it will be common shares to anyone that wants to buy them. It STATES that they may not all be sold.
What is a Private Placement
A private placement is a capital raising event that involves the sale of securities to a relatively small number of select investors. Investors involved in private placements can include large banks, mutual funds, insurance companies and pension funds. A private placement is different from a public issue in which securities are made available for sale on the open market to any type of investor.
This 'offering' is the latter.