Signal Gold Inc. T.SGNL

That well over a million shares on 5 level market depth

[shiftyone]

The market depth shows well over a million for sale.
And we know that means nothing... so there is 10 million shares for sale within a few pennies.

It could be one of 4 reasons that I think of right off.

1.   some people just want out because of the state of the company and they are for sale

2.   shorters, who want to block any rise, while they are selling with the hopes the share price will go down with these walls

3.  the company will need financing soon.  And whoever plans to invest wants to keep the price down so that they can finance the company at a lower price.  ie.  if you are going to buy 50 million shares in a placement and you can hold the price down.  10 cents is a much better price than 15 cents.   It will be interesting to see the new short position after the spike in price.

4.  One of the several companies who were in the data room looking over their numbers, wants to or has made a bid.  Anytime a buyout happens, you want it to be 60-70% above the previous 30 day moving average price.  For an example, if the offer is .20, both the offerer and the company if they recommend it want to be able to say it is 70% above the average price for the last 30

[shiftyone]

or...it could be  5.  some shareholders have traded on margin, are underwater, and the market makers are going to sell shares at whatever price they can get. There could be another dozen reasons why the big walls are there and someone is blocking a share rise.