Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 569

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 569
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 from the expiration date of  August 26, 2021 to  August 26, 2023. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension.
    
   As of  August 26, 2023, any outstanding ZNWAL warrants expired.
    
   Under our Plan, the Company under a Request For Waiver Program executed Waiver Term Sheets of a unit option program consisting of a Unit (shares of stock and warrants) of its securities and subsequently an option program consisting of shares of stock to a participant. The participant’s Plan account was credited with the number of shares of the Company’s Common Stock and warrants that were acquired. Each warrant afforded the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price of $1.00. The warrant has the company notation of “ZNWAM.” The warrants were not registered for trading on the OTCQB or any other stock market or trading market. The warrants became exercisable on  January 15, 2021 and continued to be exercisable through  July 15, 2022.
    
   On  March 21, 2022, the Company extended the termination date of the ZNWAM warrant by one (1) year from the expiration date of  July 15, 2022 to  July 15, 2023 and revised the exercise price to $0.05. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension.
    
   On  June 16, 2023, the Company extended the termination date of the ZNWAM warrant from  July 15, 2023 to  September 6, 2023. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension.
    
   On  August 21, 2023, the Company extended the termination date of the ZNWAM warrant from  September 6, 2023 to  October 31, 2023. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension.
    
   On  October 19, 2023, the Company extended the termination date of the ZNWAM warrant from  October