Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 942

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 942
---

      Net loss 

     7,343

     7,957

FOR THE YEAR ENDED December 31, 2024 COMPARED TO December 31, 2023

Revenue. We currently have no revenue generating operations.

      29

Operating costs and expenses. Operating costs and expenses for the year ended December 31, 2024 were $7,339,000 compared to $7,955,000 for the year ended December 31, 2023 Operating costs for the year ended December 31, 2024 were $616,000 (8%) lower compared to the year ended December 31, 2023. 

General and administrative expenses. General and administrative expenses for the year ended December 31, 2024 were $4,645,000 compared to $5,193,000 for the year ended December 31, 2023. This represents a reduction of $548,000, or 11%, year over year. A major component of general and administrative expenses is non-cash stock compensation expense in the form of stock options granted to employees, management and directors. As stated in this filing, Zion does not have revenue generating operations. Historically, we have compensated our staff in part by granting stock options in lieu of cash balances. However, though stock option grants are intended to provide a financial incentive, there are no guarantees that stock options will be “in the money” and, in that event, would maintain no value.

Zion granted the following number of stock options during the quarters of 2024 and 2023:

      ● 
      March 31, 2023: 200,000 

      ● 
      June 30, 2023: 25,000 

      ● 
      September 30, 2023: 7,910,000 

      ● 
      December 31, 2023: 0 

      ● 
      March 31, 2024: 200,000 

      ● 
      June 30, 2024: 0 

      ● 
      September 30, 2024: 10,000 

      ● 
      December 31, 2024: 0 

      ● 
      YTD December 31, 2023: 8,135,000 

      ● 
      YTD December 31, 2024: 210,000 

      ● 
      Total Decrease in Options Granted During 202