Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 128

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 128
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ated 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 815-40-35-2. 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. 5 to Prospectus Supplement was  December 20, 2023.
    
   Amendment No. 6 – Extension of Termination Date to  February 29, 2024  
    
   Under our Dividend