I get that the higher bids are going to be filled first but at what point are those below IPO going to be filled? First in first out? If there are no bids for the total amount of shares at IPO or higher it means that those below get filled then?
The issuer has set the IPVO price of 0.003. So unless you find an investor who's willing to sell shares at below IPVO, I don't think those orders will be filled unless the price drops below IPVO price from open trading.
Could happen - someone commits BTC hoping for short term gain, price doesn't go anywhere for a couple of weeks so he sells. Someone picks up his shares at < IPO.