Ann: Non-renounceable Entitlement Offer Closed, page-10

I certainly hope the ELF is left to expire, even as an ELF holder myself. The capital raising essentially reduced the ESIOB and ESIOA exercise prices to $0.001 plus free options, so any ELF holder that didn’t take it up either isn’t too bright or doesn’t deserve an ELF extension IMO.

IMO, the company has done the right thing by ELF holders through this capital raising, and arguably the right thing by non-ELF holders. However, this can be undone by an extension of the ELF. With the capital raising came massive dilution. Letting the ELF expire will, in part, undo the dilution so I say let it expire.