rights issue - what's your plans?

Thought I'd open up a threads to see what the faithful were planning.

Personally, I sent off the cheque to convert all my IOHO to FPO's yesterday in order to collect all my rights for next week.

After much consideration, I'll probably exercise my full rights.

My rationale is that this is the only way to potentially make money out of this deal. Selling the rights is unlikely to yield much cash and in any case there should (at worst) be a chance to sell stock around $2 in the near future offering a 25% gain from the rights purchase.

I plan on riding this out at least until the end of 2011 at which time I need to re-assess and might sell out of IOH if they haven't taken firm steps in the right direction.