Why does Poet not do a rights offering to current shareholders?

For example for every 10 shares held you receive 1 right to purchase 1 share @ today's closing price for a period of 30 days from it being offered. The ratio of 10 for 1 could be adjusted to minimize dilution.

Have no idea what paperwork is involved but in times of financial need all things should be considered.

At least this would give a chance to long suffering loyal shareholders a chance to participate as the LIFE deal has been temporarily or permanently suspended.