Since every Right enables you to buy 1.15 shares, if you exercised 1000 Rights, at $2.75 per Right, you'd have 1,150 shares for $2,750. That makes PPS $2.39. We're already above that now. Current price levels should actually be an incentive to buy the rights offering, and take advantage of the Oversubscription option, too. Anybody see it differently?