Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 212

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 212
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 purchase warrants to purchase an additional fifty (50) shares of Common Stock at a per share exercise price of $0.25. The participant’s Plan account was credited with the number of shares of the Company’s Common Stock and Warrants that was acquired under the Units purchased. Each warrant afforded the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price of $0.25. The warrants has the Company notation of “ZNWBA” and will not be registered for trading on the OTCQB or any other stock market or trading market.

        F-
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        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 6 – Stockholders’ Equity (cont’d)
    
   Plan participants, who enrolled into the Unit Program with the purchase of at least one Unit and enroll in the separate Automatic Monthly Investments (“AMI”) program at a minimum of $50.00 per month, received an additional fifty (50) warrants at an exercise price of $0.25 during this Unit Option Program. The fifty (50) additional warrants were for enrolling in the AMI program and received the above warrant with the Company notation of “ZNWBA.” Existing subscribers to the AMI were entitled to the additional fifty (50) warrants, if they purchased at least one (1) Unit during the Unit program.
    
   The ZNWBA warrants became exercisable on  January 15, 2024, and continued to be exercisable through  January 15, 2025, unless extended, at a per share exercise price of $0.25. See Amendment No. 5 below for new dates.
    
   Amendment No. 5 – Extension of Termination Date to  January 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, to terminate on  January 31, 2024.
    
   The ZNWBA warrants now will be first exercisable on  February 15, 2024, instead of  January 15, 2024 and continue to be exercisable through  February 15, 2025, instead of  January 15, 2025, unless extended, at a per share exercise price of $0.25. Zion considers this warrant as permanent equity per ASC 815-40