Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 467

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 15
Chunk 467
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 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  August 31, 2024.
    
   The ZNWBA warrants now will be first exercisable on  September 15, 2024, instead of  June 15, 2024, and continue to be exercisable through  September 14, 2025, instead of  June 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. 10 to Prospectus Supplement was  May 29, 2024.

        F-
       35

        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 6 – Stockholders’ Equity (cont’d)
    
   Amendment No. 11 – Extension of Termination Date to  October 15, 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  October 15, 2024.
    
   The ZNWBA warrants now will be first exercisable on  November 15, 2024, instead of  September 15, 2024, and continue to be exercisable through  November 14, 2025, instead of  September 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