The stock has been trading pretty weirdly ever since they issued those rights. Most recently, the stock price popped 5% on pretty decent volume, giving the rights an intrinsic value of $.88 per share. Yet the rights closed Friday at just $.33 per share. Not sure what to make of this.
I believe that, in a rights offering for a stock with more float, the arbs would get involved at this point and buy the rights but then immediately short-sell one share of the stock for every right they bought, but SRV only trades 28K shares a day so the arbs probably don't see this as an opportunity worth pursuing. Unless I'm missing something here it would seem that the rights look like a great investment opportunity at this point. I would buy more but I already own everything I want to (having bought a bunch of rights $.30 a few days after they opened for trading).