Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 468

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 15
Chunk 468
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 Option dates and features above. All other Plan features, conditions and terms remain unchanged.  

   The date of this Amendment No. 11 to Prospectus Supplement was  August 22, 2024.
    
   Amendment No. 12 – Extension of Termination Date to  December 31, 2024  
    
   Under our Dividend Reinvestment and Common Stock Purchase Plan (the “Plan”), we extended the current Unit Option that was filed under Amendment No. 4, dated  November 6, 2023. Our Unit Program consists of the combination of Common Stock and warrants with an extended time period, but otherwise the same Unit Program features, conditions and terms in the Prospectus Supplement and Amendment No. 4 apply.  We extended under our Unit Program that was to terminate  October 15, 2024, but now will terminate  December 31, 2024, and we extended the exercise and termination dates of the related ZNWBA warrants.
    
   For Plan participants who enroll into the Unit Program with the purchase of at least one Unit and also enroll in the separate Automatic Monthly Investments (“AMI”) program at a minimum of $50.00 per month or more, will receive an additional fifty (50) Warrants at an exercise price of $0.25 during this Unit Option Program. The fifty (50) additional warrants are for enrolling into the AMI program. Existing subscribers to the AMI are entitled to the additional fifty (50) warrants once, if they purchase at least one (1) Unit during the Unit program.
    
   The ZNWBA warrants will be first exercisable on  January 31, 2025, instead of  November 15, 2024, and continue to be exercisable through  January 31, 2026, instead of  November 15, 2025, unless extended, at a per share exercise price of $0.25. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension.
    
   Accordingly, all references in the Original Prospectus Supplement and Amendment No. 1 and Amendment No. 4, concerning the Unit Option, continue, except for the substitution of the revised Unit Option dates and features above. All other Plan features, conditions and terms remain unchanged.  
    
   The date of this Amendment No. 12 to Prospectus Supplement was  October 9