Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 372

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9C
Chunk 372
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 Term Sheet of a unit program consisting of units of shares of stock and warrants to a participant. After conclusion of the program on  June 18, 2021, 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 affords the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price of $.25. The warrant shall have the company notation of “ZNWAQ.” The warrants were not registered for trading on the OTCQB or any other stock market or trading market. The warrants were issued on  May 5, 2022 and were exercisable through  July 15, 2023 at a revised per share exercise price of $.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 ZNWAQ 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 ZNWAQ 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 ZNWAQ warrant from  October 31, 2023 to  December 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.

        F-
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        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 6 – Stockholders’ Equity (cont’d)
    
   On  December 18, 2023, the Company extended the termination date of the ZNWAQ warrant from  December 31, 2023 to  March 31, 2024. Zion considers this warrant as permanent equity per ASC 815-40-35-2.