arcee-ai/sec-data-full · Datasets at Hugging Face

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Unit program. Each warrant affords the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price
of $ .25 . The warrant is referred to as “ZNWAO.” The
warrants became exercisable on June 12, 2021 and continued to be exercisable through June 12, 2023 at a per share exercise price of $ .25 . As
of June 12, 2023, any outstanding ZNWAO warrants expired. Under
our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet for a program consisting of Zion securities to
a participant. After conclusion of the program on June 17, 2021, the participant’s Plan account was credited with the number of
shares of the Company’s Common Stock that were acquired. Under
our Plan, the Company under a Request For Waiver Program executed a Waiver 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 will not be registered for trading on the OTCQX or any other stock market or trading market. The
warrants were issued on May 5, 2022 and were exercisable through July 6, 2023 at a revised per share exercise price of $.05. 24 Zion
Oil & Gas, Inc. Consolidated
Condensed Notes to Financial Statements (Unaudited) Note
3 - Stockholders’ Equity (cont’d) 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 6, 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. Under
our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet to a participant. After conclusion of the program
on September 15, 2021, the participant’s Plan account was credited with the number of shares of the Company’s Common Stock
that were acquired. Under
our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares
of stock and warrants to a participant. After conclusion of the program on November 15, 2021, the participant’s Plan account was
credited with the number of shares of the Company’s Common Stock and warrants that will be 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 “ZNWAS.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The
warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a revised
per share exercise price of $.25. On
December 9, 2019 Zion filed an Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-235299) solely for the purpose
of re-filing a revised Exhibit 5.1 to the Registration Statement. This Amendment No. 1 does not modify any provision of the prospectus
that forms a part of the Registration Statement and accordingly, such prospectus has not been included herein. On
December 10, 2021 Zion filed an Amendment No. 1 to the Registration Statement on Form S-3 (File No. 333-235299) for the purpose of converting
the existing Form S-1 to the Registration Statement on Form S-3. This Amendment No. 1 does not modify any provision of the prospectus
that forms a part of the Registration Statement and accordingly such prospectus has not been included herein. Under
our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares
of stock and warrants to a participant. After conclusion of the program on September 30, 2022, 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 “ZNWAT.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The
warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a per
share exercise price of $ .25 . Under
our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares
of stock and warrants to a participant. After conclusion of the program on December 31, 2022, 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 “ZNWAU.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The
warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a per
share exercise price of $ .25 . Under our Plan, the Company under a Request For
Waiver Program executed a Waiver Term Sheet of a program consisting of shares of stock to a participant. After conclusion of the program
on August 31, 2023, the participant’s Plan account will be credited with the number of shares of the Company’s Common Stock
that will be acquired. Additionally, Zion incurred $ 173,000 in equity issuance costs to an outside party related to this waiver program. On
March 13, 2023, Zion filed with the Securities and Exchange Commission an Amendment No. 2 to the Prospectus Supplement dated as of December
15, 2021 and accompanying base prospectus dated December 1, 2021 relating to the Company’s Dividend Reinvestment and Direct Stock
Purchase Plan. This Amendment No. 2 to Prospectus Supplement amends the Prospectus Supplement. The Prospectus forms a part of the Company’s
Registration Statement on Form S-3 (File No. 333-261452), as amended, which was declared effective by the SEC on December 15,
2021. 25 Zion
Oil & Gas, Inc. Consolidated
Condensed Notes to Financial Statements (Unaudited) Note
3 - Stockholders’ Equity (cont’d) Amendment
No. 2 - New Unit Option under the Unit Program Under
our Plan, we provided a Unit Option under Amendment No. 2. 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. Amendment
No. 2 provided the option period, unit price and the determination of the number of shares of Common Stock and warrants per unit. This
Unit Option had up to three tranches of investment, in which the second and third tranches were each subject to termination upon a total
of $ 7,500,000 received from participants by the Company during the first or second tranche. The first tranche period began on March 13,
2023 and terminated on March 26, 2023. The second tranche began on March 27, 2023 and terminated on April 9, 2023 and the third tranche
began on April 10, 2023 and terminated on April 27, 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 OTCQX on the Unit Purchase Date and (ii) Common Stock purchase warrants to purchase an
additional five hundred ( 500 ) shares of Common Stock at a per share exercise price of $ 0.05 . 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 $ 0.05 . The warrant
shall have the Company notation of “ZNWAV” under the first tranche, “ZNWAW” under the second tranche and “ZNWAX”
under the third tranche. The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. Plan
participants, who enrolled into the Unit Program with the purchase of at least one Unit and enrolled in the separate Automatic Monthly
Investments (“AMI”) program at a minimum of $ 50.00 per month, received an additional fifty (50) warrants at an exercise price
of $ 0.05 during this Unit Option Program. The fifty (50) additional warrants were for enrolling into the AMI program and shall have the
Company notation of “ZNWAY.” Existing subscribers to the AMI are entitled to the additional fifty (50) warrants, if they
purchase at least one (1) Unit during the Unit program. Plan participants, who enroll in the AMI at a minimum of $100 per month, will
receive one hundred (100) ZNWAY warrants. Plan participants, who enroll in the AMI at a minimum of $250 per month, will receive two hundred
and fifty (250) ZNWAY warrants. Plan participants, who enroll in the AMI at a minimum of $500 per month, will receive five hundred (500)
ZNWAY warrants. The AMI program requires 90 days of participation to receive the ZNWAY warrants. Existing AMI participants are entitled
to participate in this monthly program by increasing their monthly amount above the minimum $50.00 per month. The
ZNWAV warrants became exercisable on March 31, 2023 and continued to be exercisable through June 28, 2023 at a per share exercise price
of $ 0.05 . As
of June 28, 2023, any outstanding ZNWAV warrants expired. The
ZNWAW warrants became exercisable on April 14, 2023 and continued to be exercisable through July 13, 2023 at a per share exercise price
of $ 0.05 . As
of July 13, 2023, any outstanding ZNWAW warrants expired. The
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 continue to be exercisable through September 10, 2023 at a per share exercise
price of $ 0.05 . 26 Zion
Oil & Gas, Inc. Consolidated
Condensed Notes to Financial Statements (Unaudited) Note
3 - Stockholders’ Equity (cont’d) Amendment No.
3 – New Unit Option under the Unit Program Under our Plan, provided a

Unit program. Each warrant affords the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price

of $ .25 . The warrant is referred to as “ZNWAO.” The

warrants became exercisable on June 12, 2021 and continued to be exercisable through June 12, 2023 at a per share exercise price of $ .25 . As

of June 12, 2023, any outstanding ZNWAO warrants expired. Under

our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet for a program consisting of Zion securities to

a participant. After conclusion of the program on June 17, 2021, the participant’s Plan account was credited with the number of

shares of the Company’s Common Stock that were acquired. Under

our Plan, the Company under a Request For Waiver Program executed a Waiver 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 will not be registered for trading on the OTCQX or any other stock market or trading market. The

warrants were issued on May 5, 2022 and were exercisable through July 6, 2023 at a revised per share exercise price of $.05. 24 Zion

Oil & Gas, Inc. Consolidated

Condensed Notes to Financial Statements (Unaudited) Note

3 - Stockholders’ Equity (cont’d) 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 6, 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. Under

our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet to a participant. After conclusion of the program

on September 15, 2021, the participant’s Plan account was credited with the number of shares of the Company’s Common Stock

that were acquired. Under

our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares

of stock and warrants to a participant. After conclusion of the program on November 15, 2021, the participant’s Plan account was

credited with the number of shares of the Company’s Common Stock and warrants that will be 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 “ZNWAS.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The

warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a revised

per share exercise price of $.25. On

December 9, 2019 Zion filed an Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-235299) solely for the purpose

of re-filing a revised Exhibit 5.1 to the Registration Statement. This Amendment No. 1 does not modify any provision of the prospectus

that forms a part of the Registration Statement and accordingly, such prospectus has not been included herein. On

December 10, 2021 Zion filed an Amendment No. 1 to the Registration Statement on Form S-3 (File No. 333-235299) for the purpose of converting

the existing Form S-1 to the Registration Statement on Form S-3. This Amendment No. 1 does not modify any provision of the prospectus

that forms a part of the Registration Statement and accordingly such prospectus has not been included herein. Under

our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares

of stock and warrants to a participant. After conclusion of the program on September 30, 2022, 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 “ZNWAT.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The

warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a per

share exercise price of $ .25 . Under

our Plan, the Company under a Request For Waiver Program executed a Waiver Term Sheet of a unit program consisting of units of shares

of stock and warrants to a participant. After conclusion of the program on December 31, 2022, 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 “ZNWAU.” The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. The

warrants will be issued and become exercisable on November 15, 2025 and continue to be exercisable through December 31, 2025 at a per

share exercise price of $ .25 . Under our Plan, the Company under a Request For

Waiver Program executed a Waiver Term Sheet of a program consisting of shares of stock to a participant. After conclusion of the program

on August 31, 2023, the participant’s Plan account will be credited with the number of shares of the Company’s Common Stock

that will be acquired. Additionally, Zion incurred $ 173,000 in equity issuance costs to an outside party related to this waiver program. On

March 13, 2023, Zion filed with the Securities and Exchange Commission an Amendment No. 2 to the Prospectus Supplement dated as of December

15, 2021 and accompanying base prospectus dated December 1, 2021 relating to the Company’s Dividend Reinvestment and Direct Stock

Purchase Plan. This Amendment No. 2 to Prospectus Supplement amends the Prospectus Supplement. The Prospectus forms a part of the Company’s

Registration Statement on Form S-3 (File No. 333-261452), as amended, which was declared effective by the SEC on December 15,

2021. 25 Zion

Oil & Gas, Inc. Consolidated

Condensed Notes to Financial Statements (Unaudited) Note

3 - Stockholders’ Equity (cont’d) Amendment

No. 2 - New Unit Option under the Unit Program Under

our Plan, we provided a Unit Option under Amendment No. 2. 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. Amendment

No. 2 provided the option period, unit price and the determination of the number of shares of Common Stock and warrants per unit. This

Unit Option had up to three tranches of investment, in which the second and third tranches were each subject to termination upon a total

of $ 7,500,000 received from participants by the Company during the first or second tranche. The first tranche period began on March 13,

2023 and terminated on March 26, 2023. The second tranche began on March 27, 2023 and terminated on April 9, 2023 and the third tranche

began on April 10, 2023 and terminated on April 27, 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 OTCQX on the Unit Purchase Date and (ii) Common Stock purchase warrants to purchase an

additional five hundred ( 500 ) shares of Common Stock at a per share exercise price of $ 0.05 . 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 $ 0.05 . The warrant

shall have the Company notation of “ZNWAV” under the first tranche, “ZNWAW” under the second tranche and “ZNWAX”

under the third tranche. The warrants will not be registered for trading on the OTCQX or any other stock market or trading market. Plan

participants, who enrolled into the Unit Program with the purchase of at least one Unit and enrolled in the separate Automatic Monthly

Investments (“AMI”) program at a minimum of $ 50.00 per month, received an additional fifty (50) warrants at an exercise price

of $ 0.05 during this Unit Option Program. The fifty (50) additional warrants were for enrolling into the AMI program and shall have the

Company notation of “ZNWAY.” Existing subscribers to the AMI are entitled to the additional fifty (50) warrants, if they

purchase at least one (1) Unit during the Unit program. Plan participants, who enroll in the AMI at a minimum of $100 per month, will

receive one hundred (100) ZNWAY warrants. Plan participants, who enroll in the AMI at a minimum of $250 per month, will receive two hundred

and fifty (250) ZNWAY warrants. Plan participants, who enroll in the AMI at a minimum of $500 per month, will receive five hundred (500)

ZNWAY warrants. The AMI program requires 90 days of participation to receive the ZNWAY warrants. Existing AMI participants are entitled

to participate in this monthly program by increasing their monthly amount above the minimum $50.00 per month. The

ZNWAV warrants became exercisable on March 31, 2023 and continued to be exercisable through June 28, 2023 at a per share exercise price

of $ 0.05 . As

of June 28, 2023, any outstanding ZNWAV warrants expired. The

ZNWAW warrants became exercisable on April 14, 2023 and continued to be exercisable through July 13, 2023 at a per share exercise price

of $ 0.05 . As

of July 13, 2023, any outstanding ZNWAW warrants expired. The

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 continue to be exercisable through September 10, 2023 at a per share exercise

price of $ 0.05 . 26 Zion

Oil & Gas, Inc. Consolidated

Condensed Notes to Financial Statements (Unaudited) Note

3 - Stockholders’ Equity (cont’d) Amendment No.

3 – New Unit Option under the Unit Program Under our Plan, provided a