Pro-Rating is more "fair" but now there is no rush to get in early - should not matter too much for ZN though as they have GREAT incentive to announce something commercial or very positive PRIOR to the close of May 31st the expiration date. ZN afterall wants the rights offering SOLD OUT and will likely not hold off announcement past 5/20 to allow for mailing in rights offers etc... definitely not likely ZN says nothing till June.