Sorry to join the party so late, I saw the contest with just over an hour to go before the "open Phase" ended, so I threw in a few preliminary designs. With so few designers in the contest I figured we can develop our designs during the "Top 5" phase (I'm sure some of the other late entries did the same.) By not ranking, you have effectively closed your contest to further entries from other designers.
Please keep in mind that by ranking 5 designers (regardless of order), you can still have more designs coming in. Otherwise, you are limiting your choices since those not ranked, can no longer submit new concepts. Only the top 5 can submit, as it stands, you now only have 2 designers that can submit.