Ann: Non Renounceable Entitlement Offer, page-50

Cynical answer:
- How else was Brian going to be able to re-gain his proportion of ownership after previous dilutions? Offer pro-rata new purchase rights, when many holders will be too sick of this $hit $how and not get involved..

Optimistic answer:
- Brian does care for shareholders, despite some poor decisions and actions taken by management. He believes this gives faithful shareholders the best chance at maintaining their proportion of company ownership, and knew there would be HUGE anger if he went back only to sophisticated market again at this crap raise price