Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 295

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 295
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 ZNWAX warrants became exercisable on  May 2, 2023 and continued to be exercisable through  July 31, 2023 at a per share exercise price of $0.05.
    
   On  July 31, 2023, any outstanding ZNWAX warrants expired.
    
   The ZNWAY warrants became exercisable on  June 12, 2023 and continued to be exercisable through  September 10, 2023 at a per share exercise price of $0.05.
    
   On  September 10, 2023, any outstanding ZNWAY warrants expired.

        F-
       31

        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 6 – Stockholders’ Equity (cont’d)
    
   Amendment No. 3 – New Unit Option under the Unit Program
    
   Under our Plan, we provided a Unit Option under Amendment No. 3. This Unit Option period began on  May 15, 2023 and terminated on  June 15, 2023.
    
   Our Unit Program consisted of the combination of Common Stock and warrants with basic Unit Program features, conditions and terms outlined in the Original Prospectus Supplement and Amendment No. 1 and Amendment No.2. Amendment No. 3 provided the option period, unit price and the determination of the number of shares of Common Stock and warrants per unit. As mentioned above, this Unit Option began on  May 15, 2023 and terminated on  June 15, 2023. The Unit Option consisted of Units of our securities where each Unit (priced at $250.00 each) was comprised of (i) a certain number of shares of Common Stock determined by dividing $250.00 (the price of one Unit) by the average of the high and low sale prices of the Company’s publicly traded common stock as reported on the OTCQB on the Unit Purchase Date and (ii) Common Stock purchase warrants to purchase an additional two hundred (200) 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 were acquired under the Units purchased. Each warrant affords the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price of $0.25. The warrant shall have the Company notation of “ZNWAZ”