Ric, my understanding is that any holding will qualify you to participate in the SPP upto $15,000 worth. The reason I don't believe the price will plummet to near $1.25 is that I'd estimate only 40% of holders will elect to participate & not all of those will take full entitlement. Far more shares were issued in the recent institutional offer. Naturally, this is only my amateur opinion so I'd suggest you DYOR or consult your broker.