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considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On November 1, 2016, the Company |
launched a unit offering under the Company’s DSPP pursuant to which participants could purchase units comprised of seven shares |
of Common Stock and seven Common Stock purchase warrants, at a per unit purchase price of $10. The warrant is referred to as “ZNWAE.” The ZNWAE warrants became |
exercisable on May 1, 2017 and continued to be exercisable through May 1, 2020 at a per share exercise price of $1.00. On May 29, 2019, the Company |
extended the termination date of the ZNWAE Warrant by one (1) year from the expiration date of May 1, 2020 to May 1, 2021. Zion considers |
this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On September 15, 2020, the |
Company extended the termination date of the ZNWAE Warrant by two (2) years from the expiration date of May 1, 2021 to May 1, 2023. Zion |
considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. The warrant terms provide |
that if the Company’s Common Stock trades above $5.00 per share at the closing price for 15 consecutive trading days at any time |
prior to the expiration date of the warrant, the Company may, in its sole discretion, accelerate the termination of the warrant upon providing |
60 days advanced notice to the warrant holders. 36 On May 22, 2017, the Company |
launched a new unit offering. This unit offering consisted of a new combination of common stock and warrants, a new time period in which |
to purchase under the program, and a new unit price, but otherwise the same unit program features, conditions and terms in the Prospectus |
Supplement applied. The unit offering terminated on July 12, 2017. This unit offering enabled participants to purchase Units of the Company’s |
securities where each Unit (priced at $250.00 each) was comprised of (i) the 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 Common Stock as reported on the NASDAQ on |
the unit purchase date and (ii) Common Stock purchase warrants to purchase an additional 25 shares of Common Stock at a warrant exercise |
price of $1.00 per share. The warrant is referred to as “ZNWAF.” All ZNWAF warrants became |
exercisable on August 14, 2017 and continued to be exercisable through August 14, 2020 at a per share exercise price of $1.00. On May 29, 2019, the Company |
extended the termination date of the ZNWAF Warrant by one (1) year from the expiration date of August 14, 2020 to August 14, 2021. Zion |
considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On September 15, 2020, the |
Company extended the termination date of the ZNWAF Warrant by two (2) years from the expiration date of August 14, 2021 to August 14, |
2023. Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. The warrant terms provide |
that if the Company’s Common Stock trades above $5.00 per share as the closing price for 15 consecutive trading days at any time |
prior to the expiration date of the warrant, the Company has the sole discretion to accelerate the termination date of the warrant upon |
providing 60 days advanced notice to the warrant holders. An Amendment No. 2 to the |
Prospectus Supplement (as described below) was filed on October 12, 2017. Under Amendment No. 2, the |
Company initiated another unit offering which terminated on December 6, 2017. This unit offering enabled participants to purchase Units |
of the Company’s 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 Common Stock |
as reported on the NASDAQ on the unit purchase date and (ii) Common Stock purchase warrants to purchase an additional 15 shares of Common |
Stock at a warrant exercise price of $1.00 per share. The warrant is referred to as “ZNWAG.” The warrants became exercisable on January 8, 2018 and continue to |
be exercisable through January 8, 2024 at a revised per share exercise price of $.25. The warrant terms provide that if the Company’s |
Common Stock trades above $5.00 per share as the closing price for 15 consecutive trading days at any time prior to the expiration date |
of the warrant, the Company has the sole discretion to accelerate the termination date of the warrant upon providing 60 days advanced |
notice to the warrant holders. On December 14, 2022, the |
Company extended the termination date of the ZNWAG warrant by one (1) year from the expiration date of January 8, 2023 to January 8, 2024. |
Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On February 1, 2018, the Company |
launched another unit offering which terminated on February 28, 2018. The unit offering consisted of Units of our securities where each |
Unit (priced at $250.00 each) was comprised of (i) 50 shares of Common Stock and (ii) Common Stock purchase warrants to purchase an additional |
50 shares of Common Stock. The investor’s Plan account was credited with the number of shares of the Company’s Common Stock |
acquired under the Units purchased. Each warrant affords the investor the opportunity to purchase one share of Company Common Stock at |
a warrant exercise price of $5.00. The warrant is referred to as “ZNWAH.” 37 The warrants became exercisable |
on April 2, 2018 and continued to be exercisable through April 2, 2020 at a per share exercise price of $5.00, after the Company, on December |
4, 2018, extended the termination date of the Warrant by one (1) year from the expiration date of April 2, 2019 to April 2, 2020. On May 29, 2019, the Company |
extended the termination date of the ZNWAH Warrant by one (1) year from the expiration date of April 2, 2020 to April 2, 2021. Zion considers |
this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On September 15, 2020, the |
Company extended the termination date of the ZNWAH Warrant by two (2) years from the expiration date of April 2, 2021 to April 2, 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, 2018, the Company |
initiated another unit offering, and it terminated on September 26, 2018. The unit offering consisted of Units of the Company’s |
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 NASDAQ on the Unit Purchase Date and (ii) Common Stock purchase warrants to purchase an additional twenty-five (25) shares |
of Common Stock. The investor’s Plan account was credited with the number of shares of the Company’s Common Stock acquired |
under the Units purchased. Each warrant affords the investor the opportunity to purchase one share of Company Common Stock at a warrant |
exercise price of $1.00. The warrant is referred to as “ZNWAJ.” The warrants became exercisable |
on October 29, 2018 and continued to be exercisable through October 29, 2020 at a per share exercise price of $1.00, after the Company, |
on December 4, 2018, extended the termination date of the Warrant by one (1) year from the expiration date of October 29, 2019 to October |
29, 2020. On May 29, 2019, the Company |
extended the termination date of the ZNWAJ Warrant by one (1) year from the expiration date of October 29, 2020 to October 29, 2021. Zion |
considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. On September 15, 2020, the |
Company extended the termination date of the ZNWAJ Warrant by two (2) years from the expiration date of October 29, 2021 to October 29, |
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 December 10, 2018, the |
Company initiated another unit offering, and it terminated on January 23, 2019. The unit offering consisted of Units of the Company’s |
securities where each Unit (priced at $250.00 each) was comprised of (i) two hundred and fifty (250) shares of Common Stock and (ii) Common |
Stock purchase warrants to purchase an additional two hundred and fifty (250) shares of Common Stock at a per share exercise price of |
$0.01. The investor’s Plan account was credited with the number of shares of the Company’s Common Stock and Warrants that |
are 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 $0.01. The warrant is referred to as “ZNWAK.” The warrants became exercisable |
on February 25, 2019 and continued to be exercisable through February 25, 2020 at a per share exercise price of $0.01. On May 29, 2019, the Company |
extended the termination date of the ZNWAK warrant by one (1) year from the expiration date of February 25, 2020 to February 25, 2021. |
Zion considers this warrant as permanent equity per ASC 815-40-35-2. As such, there is no value assigned to this extension. 38 On September 15, 2020, the |
Company extended the termination date of the ZNWAK warrant by two (2) years from the expiration date of February 25, 2021 to February |
25, 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 April 24, 2019, the Company |
initiated another unit offering, and it terminated on June 26, 2019, after the Company, on June 5, 2019, extended the termination date |
of the unit offering. The unit offering consisted |
of Units of the Company’s securities where each Unit (priced at $250.00 each) was comprised of (i) two hundred and fifty (250) shares |
of Common Stock and (ii) Common Stock purchase warrants to purchase an additional fifty (50) shares of Common Stock at a per share exercise |
price of $2.00. The investor’s Plan account was credited with the number of shares of the Company’s Common Stock and Warrants |
acquired under the Units purchased. For Plan participants who enrolled into the Unit Program with the purchase of at least one Unit and |
also enrolled in the separate Automatic Monthly Investments (“AMI”) program at a minimum of $50.00 per month or more, received |
an additional twenty-five (25) warrants at an exercise price of $2.00 during this Unit Option Program. The twenty-five (25) additional |
warrants were for enrolling into the AMI program. Existing subscribers to the AMI were entitled to the additional twenty-five (25) warrants |
once, if they purchased at least one (1) unit during the Unit program. Each warrant affords the participant the opportunity to purchase |
one share of our Common Stock at a warrant exercise price of $2.00. The warrant is referred to as “ZNWAL.” The warrants became exercisable |
on August 26, 2019 and continued to be exercisable through August 26, 2021 at a per share exercise price of $2.00. On September 15, 2020, the |
Company extended the termination date of the ZNWAL warrant by two (2) years 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. 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 affords the participant |
the opportunity to purchase one share of our Common Stock at a warrant exercise price of $1.00. The warrant shall have the company notation |
of “ZNWAM.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The |
warrants became exercisable on January 15, 2021 and continue to be exercisable through July 15, 2023 at a per share exercise price of |
$0.05. On February 1, 2021, the Company |
initiated a unit offering, and it terminated on March 17, 2021. The unit offering consisted |
of Units of the Company’s securities where each Unit (priced at $250.00 each) was comprised of (i) the number of Common Stock shares |
represented by the high-low average on the purchase date and (ii) Common Stock purchase warrants to purchase an additional twenty-five |
(25) shares of Common Stock at a per share exercise price of $1.00. The investor’s Plan account was credited with the number of |
shares of the Company’s Common Stock and Warrants acquired under the Units purchased. For Plan participants who enrolled into the |
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