"I figure that these warrants are not going to expire worthless. Your conclusion is that in 5 years (250 weeks, approx 1250 trading days), ECU shares will still be below $1."

Just noting the statistics for warrants... Anybody who buys warrants or options should be aware of the risk of going to zero.

Having said that, I think the ECU warrant has a better chance than most. It has a nice time value of five years, and is not that far out of the money, especially when you consider the share price before the recent tanking. I will probably add to the ones I picked up in the recent offering.