who is not taking up the entitlement

Just curious to hear if anyone is "not" taking up the Entitlement for any reason?

I'm still pondering the idea due to financial constraints but think it's a fairly reasonable deal. For me.... lets say I'm holding 2 million shares, that then entitles me to 332000 shares at 2.8 cents plus 1 option for each new share purchased exercisable at 3 cents before 2012.
Given the s/p is trading above 3 cents (atm) one may think that the dilution and allotted s/p will keep PEN in a holding pattern for some time. Massive test of patience once again.
This brings back memory's from the last entitlement where the s/p was set at 6 cents per share back in July 2007.
Obviously for those who participated in the previous one feel a little short changed thanks to the s/p being at current levels, not to mention the extra dilution now in affect.

None the less...... been holding for years and have faith in the big picture.
We have until the end of the month to take advantage of this..... I'm just curious to hear out others opinions.

Cheers