I just did a quick count and there are approximately 3,500,000 offered for sale from  .20 to .25.

That is a TON of shares for sale and it represents a huge wall to climb. Even beyound .25 the amount of shares offered is quite large. I believe this is a function of people wanting to sell shares and warrants when able to do so, as well as people wanting to cash in on the large price rise from the .08 range in February.

Also, remember that in Oct last year, the price ran up to a high of .265 on huge volume. Over 50 million shares were bought at that time and a lot of people saw their investment loose about 60% of it's value. That's a lot of people waiting for the share price to return to the mid .20 area so they can dump their shares and get their money back.

Many of those people don't care about fundamentals of the company. They bought a momentum play on the way up and got caught when the price fell by roughly two thirds. They just want to sell and break even. Of course, they will miss out on the big money to come but that's how it goes on the venture exchange.

Up until now, this was a VERY risky gamble. However, since the last news release, this play has turned a very important corner and is now,in my opinion, an actual INVESTMENT with very large upside potential. This is exactly why I play the venture exchange. (Insert smiley face here!)

As more good news comes out over the next few weeks/months, the share price will begin to reflect it's true value. The wall will be climbed and the prices on ecce's interesting spread sheet should begin to materialize.

Regards, Muffles