Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 167

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 167
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      F-5

Zion Oil & Gas, Inc.

Consolidated Statements of Cash Flows

      For the year ended  
   December 31,  
   2024    2023  
   US$    US$  
   thousands    thousands  
 Cash flows from operating activities         
 Net loss   (7,343)  (7,957)
 Adjustments required to reconcile net loss to net cash used in operating activities:         
 Depreciation   779   767 
 Amortization of Right of Use Lease Asset   264   260 
 Cost of options issued to employees, directors and others as non-cash compensation   334   1,034 
 Post impairment of unproved oil and gas properties   -   135 
 Loss on sale of property and equipment   63   - 
 Change in assets and liabilities, net:         
 Other deposits   -   483 
 Prepaid expenses and other   (52)  85 
 Governmental receivables   (1)  249 
 Other receivables   115   20 
 Lease obligation - current and non current   (276)  (269)
 Severance pay, net   (17)  (9)
 Accounts payable   (30)  90 
 Accrued liabilities   (66)  (21)
 Net cash used in operating activities   (6,230)  (5,133)
         
 Cash flows from investing activities         
 Acquisition of property and equipment   (59)  (1)
 Proceeds from sale of property and equipment   35   - 
 Acquisition of drilling rig and related equipment   (178)  - 
 Investment in unproved oil and gas properties   (5,072)  (2,353)
 Net cash used in investing activities   (5,274)  (2,354)
         
 Cash flows from financing activities         
 Proceeds from exercise of stock options   36   12 
 Costs paid related to the issuance of new shares   (3,088)  (953)
 Proceeds from issuance of stock and exercise of warrants   16,257   6,949 
 Net cash provided by financing activities   13,205   6,008 
         
 Net decrease in cash, cash equivalents