| Stockholders' Equity | Note 3 - Stockholders' Equity A. 2011 Equity Incentive
Stock Option Plan During the three months ended March 31,
2020, the Company granted the following options from the 2011 Equity Incentive Plan for employees, directors and consultants,
to purchase as non-cash compensation (the exercise of penny stock options is taxable at full market value on the date of exercise):
i. Options to purchase
110,000 shares of Common Stock to five senior officers at an exercise price of $0.01 per share. The options vested upon grant
and are exercisable through January 6, 2030. The fair value of the options at the date of grant amounted to approximately
$57,000. During the three months ended March 31,
2019, the Company granted the following options from the 2011 Equity Incentive Plan for employees, directors and consultants,
to purchase as non-cash compensation (the exercise of penny stock options are taxable on the date of exercise):
i. Options to purchase
25,000 shares of Common Stock to one senior officer at an exercise price of $0.01 per share. The options vested upon grant
and are exercisable through January 6, 2029. The fair value of the options at the date of grant amounted to approximately
$10,000. B. 2011 Non-Employee
Directors Stock Option Plan During
the three months ended March 31, 2020, and 2019, the Company did not grant any qualified (market value) options from the 2011
Non-Employee Directors Stock Option Plan to its directors. C. Stock Options The stock option transactions since January
1, 2020 are shown in the table below:
Number
of shares Weighted
Average exercise
price
US$
Outstanding, December 31, 2019 5,195,250 1.12
Changes during 2020 to:
Granted to employees, officers, directors and others * 110,000 0.01
Expired/Cancelled/Forfeited (25,000 ) 0.01
Exercised (387,500 ) 0.01
Outstanding, March 31, 2020 4,892,750 1.19
Exercisable, March 31, 2020 4,892,750 1.19
* The receipt of a
stock option grant by the grantee recipient is a non-taxable event according to the Internal Revenue Service. The grantee
who later chooses to exercise penny stock options must recognize the market value in income in the year of exercise. The following table summarizes information about stock options
outstanding as of March 31, 2020:
Shares
underlying outstanding options (non-vested) Shares
underlying outstanding options (fully vested)
Range
of Number
outstanding Weighted
average remaining contractual life (years) Weighted Range
of exercise Number Weighted average
remaining contractual life (years) Weighted
US$ US$ US$ US$
— — — — 0.01 10,000 3.62 0.01
— — — — 0.01 5,000 4.20 0.01
— — — — 0.01 20,000 6.17 0.01
— — — — 0.01 130,000 6.75 0.01
— — — — 0.01 60,000 7.04 0.01
— — — — 0.01 40,000 7.50 0.01
— — — — 0.01 97,500 7.75 0.01
— — — — 0.01 25,000 7.76 0.01
— — — — 0.01 30,000 7.91 0.01
— — — — 0.01 6,000 8.01 0.01
— — — — 0.01 25,000 8.77 0.01
— — — — 0.01 50,000 9.08 0.01
— — — — 0.01 95,000 9.25 0.01
— — — — 0.01 10,000 9.42 0.01
— — — — 0.01 205,000 9.46 0.01
— — — — 0.01 435,000 9.63 0.01
— — — — 0.01 85,000 9.76 0.01
— — — — 0.16 340,000 5.69 0.16
— — — — 0.16 150,000 9.69 0.16
— — — — 0.18 25,000 5.67 0.18
— — — — 0.28 25,000 5.42 0.28
— — — — 0.28 25,000 9.42 0.28
— — — — 1.33 25,000 3.07 1.33
— — — — 1.38 108,000 0.76 1.38
— — — — 1.38 105,307 4.76 1.38
— — — — 1.55 400,000 2.18 1.55
— — — — 1.67 340,000 0.50 1.67
— — — — 1.67 405,943 4.51 1.67
— — — — 1.70 218,500 2.72 1.70
— — — — 1.75 400,000 3.27 1.75
— — — — 1.78 25,000 4.43 1.78
— — — — 1.87 25,000 1.84 1.87
— — — — 1.95 25,000 0.01 1.95
— — — — 2.03 25,000 1.08 2.03
— — — — 2.31 400,000 3.76 2.31
2.61 471,500 1.68 2.61
— — — — 4.15 25,000 4.26 4.15
0.01-4.15 4,892,750 1.19 Granted to employees The following table sets forth information
about the weighted-average fair value of options granted to employees and directors during the year, using the Black Scholes option-pricing
model and the weighted-average assumptions used for such grants:
For the three months ended March
31,
2020 2019
Weighted-average fair value of underlying stock at grant date $ 0.52 $ 0.42
Dividend yields — —
Expected volatility 103 % 87 %
Risk-free interest rates 1.61 % 2.53 %
Expected lives (in years) 5.00 5.00
Weighted-average grant date fair value $ 0.51 $ 0.41 Granted to non-employees The following table sets forth information
about the weighted-average fair value of options granted to non-employees during the year, using the Black Scholes option-pricing
model and the weighted-average assumptions used for such grants:
For the three months ended March
31 ,
2020 2019
Weighted-average fair value of underlying stock at grant date $ — $ —
Dividend yields — —
Expected volatility — —
Risk-free interest rates — —
Expected lives (in years) — —
Weighted-average grant date fair value $ — $ — The risk-free interest rate is based on
the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the options. The expected life represents the weighted
average period of time that options granted are expected to be outstanding. The expected life of the options granted to employees
and directors is calculated based on the Simplified Method as allowed under Staff Accounting Bulletin No. 110 ("SAB 110"), giving
consideration to the contractual term of the options and their vesting schedules, as the Company does not have sufficient historical
exercise data at this time. The expected life of the option granted to non-employees equals their contractual term. In the case
of an extension of the option life, the calculation was made on the basis of the extended life. D. Compensation
Cost for Warrant and Option Issuances The
following table sets forth information about the compensation cost of warrant and option issuances recognized for employees and
directors:
For the three months ended
March 31,
2020 2019
US$ thousands US$ thousands
56 15 The following table sets forth information
about the compensation cost of warrant and option issuances recognized for non-employees:
For the three months ended
March 31,
2020 2019
US$ thousands US$ thousands
— — The following table sets forth information
about the compensation cost of option issuances recognized for employees and non-employees and capitalized to Unproved Oil &
Gas properties:
For the three months ended
March 31,
2020 2019
US$ thousands US$ thousands
— — E. Dividend Reinvestment
and Stock Purchase Plan ("DSPP") On March 27, 2014, we launched our Dividend
Reinvestment and Stock Purchase Plan (the "DSPP") pursuant to which stockholders and interested investors can purchase
shares of the Company's Common Stock as well as units of the Company's securities directly from the Company. The terms
of the DSPP are described in the Prospectus Supplement originally filed on March 31, 2014 (the "Original Prospectus Supplement")
with the Securities and Exchange Commission ("SEC") under the Company's effective registration Statement on
Form S-3, as thereafter amended. On January 13, 2015, the Company amended
the Original Prospectus Supplement ("Amendment No. 3") to provide for a unit option (the "Unit Option")
under the DSPP comprised of one share of Common Stock and three Common Stock purchase warrants with each unit priced at $4.00.
Each warrant afforded the participant the opportunity to purchase the Company's Common Stock at a warrant exercise price
of $1.00. Each of the three warrants series has different expiration dates that have been extended. The ZNWAB warrants first became
exercisable on May 2, 2016 and, in the case of ZNWAC on May 2, 2017 and in the case of ZNWAD on May 2, 2018, at a per share
exercise price of $1.00. As of May 2, 2017, any outstanding ZNWAB
warrants expired. As of May 2, 2018, any outstanding ZNWAC
warrants expired. On May 29, 2019, the Company extended
the termination date of the ZNWAD Warrant by one (1) year from the expiration date of May 2, 2020 to May 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 November 1, 2016, the Company launched
a unit offering (the "Unit Program") 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 continue 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. 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. On February 23, 2017, the Company filed
a Form S-3 with the SEC (Registration No. 333-216191) as a replacement for the Form S-3 (Registration No. 333-193336), for which
the three year period ended March 31, 2017, along with the base Prospectus and Supplemental Prospectus. The Form S-3, as amended,
and the new base Prospectus became effective on March 10, 2017, along with the Prospectus Supplement that was filed and became
effective on March 10, 2017. The Prospectus Supplement under Registration No. 333-216191 describes the terms of the DSPP and replaces
the prior Prospectus Supplement, as amended, under the prior Registration No. 333-193336. On May 22, 2017, the Company launched
a new unit offering (the "New Unit Program"). The New Unit Program 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 New Unit Program terminated on July 12, 2017. This New
Unit Program 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 continue 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. 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 Option Program which terminated on December 6, 2017. This Unit Option Program 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, 2021 at a per share exercise price of $1.00. 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 February 1, 2018, the Company launched
another Unit Option Program which terminated on February 28, 2018. The Unit Option 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." The warrants became exercisable on April
2, 2018 and continue 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 August 21, 2018, the Company initiated
another Unit Option Program, and it terminated on September 26, 2018. The Unit Option Program 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 continue 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 December 10, 2018, the Company initiated
another Unit Option Program, and it terminated on January 23, 2019. The Unit Option Program consisted of Units of the Company's
securities where each Unit (priced at $250.00 each) is 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 continue 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. On April 24, 2019, the Company's
most recent Unit Option Program began and it terminated on June 26, 2019, after the Company, on June 5, 2019, extended the termination
date of the Unit Option Program. The Unit Option Program 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 continue to be exercisable through August 26, 2021 at a per share exercise price of $2.00. 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. For the three months ended March 31, 2020,
and 2019, approximately $9,109,000, and $2,528,000 was raised under the DSPP program, respectively. The company raised approximately $1,404,000
from the period April 1, 2020 through May 6, 2020, under the DSPP program. The warrants represented by the ticker
ZNWAA are tradable on the Nasdaq market. However, all of the other warrants characterized above, in the table below, and throughout
this Form 10-K, are not tradeable and are used internally for classification and accounting purposes only. F.
Subscription Rights Offering On April 2, 2018 the Company announced an offering ("2018
Subscription Rights Offering") through American Stock Transfer & Trust Company, LLC (the "Subscription Agent"),
at no cost to the shareholders, of non-transferable Subscription Rights (each "Right" and collectively, the "Rights")
to purchase its securities to persons who owned shares of our Common Stock on April 13, 2018 ("the Record Date"). Pursuant
to the 2018 Subscription Rights Offering, each holder of shares of common stock on the Record Date received non-transferable
Subscription Rights, with each Right comprised of one share of the Company Common Stock, par value $0.01 per share (the
"Common Stock") and one Common Stock Purchase Warrant to purchase an additional one share of Common Stock. Each Right
could be exercised or subscribed at a per Right subscription price of $5.00. Each Warrant affords the investor the opportunity
to purchase one share of the Company Common Stock at a warrant exercise price of $3.00. The warrant is referred to as "ZNWAI." The warrants became exercisable on June
29, 2018 and continue to be exercisable through June 29, 2020 at a per share exercise price of $3.00, after the Company, on December
4, 2018, extended the termination date of the Warrant by one (1) year from the expiration date of June 29, 2019 to June 29, 2020. On May 29, 2019, the Company extended
the termination date of the ZNWAI Warrant by one (1) year from the expiration date of June 29, 2020 to June 29, 2021. Each shareholder received .10 (one tenth) of a Subscription
Right (i.e. one Subscription Right for each 10 shares owned) for each share of the Company's Common Stock owned on the Record
Date. The 2018 Subscription Rights Offering terminated on May 31,
2018. The Company raised net proceeds of approximately $3,038,000, from the subscription of Rights, after deducting fees and expenses
of $243,000 incurred in connection with the rights offering. G.
Warrants Extended On December 4, 2018, the Company
executed an Amendment to certain Warrant Agent Agreements (the "Agreements") between the Company and American Stock
Transfer & Trust Company ("AST"). The Company has implemented Agreements with AST as the Company's
Warrant Agent (the "Warrant Agent"), under a Warrant Agent Agreement dated February 2, 2015 for the Warrant ZNWAD,
under a Warrant Agent Agreement dated February 1, 2018 for the Warrant ZNWAH, under a Warrant Agent Agreement dated April 2, 2018
for the Warrant ZNWAI and under a Warrant Agent Agreement dated August 21, 2018 for the Warrant ZNWAJ. The Warrant ZNWAD had an expiration date
of May 2, 2019, the Warrant ZNWAH had an expiration date of April 19, 2019, the Warrant ZNWAI had an expiration date of June 29,
2019 and the Warrant ZNWAJ had an expiration date of October 29, 2019. Pursuant to Section 3.2 of the Warrant
Agent Agreements, the Company in its sole discretion extended the termination date of the above Warrants by delaying the Expiration
Dates and such extension shall be identical in duration among all of the Warrants. The Company extended the duration of the Warrant
ZNWAD by one (1) year from the expiration date of May 2, 2019 to May 2, 2020. The Company extended the duration of the Warrant
ZNWAH by one (1) year from the expiration date of April 19, 2019 to April 19, 2020. The Company extended the duration of the Warrant
ZNWAI by one (1) year from the expiration date of June 29, 2019 to June 29, 2020. The Company extended the duration of the Warrant
ZNWAJ by one (1) year from the expiration date of October 29, 2019 to October 29, 2020. On May 29, 2019, the Company executed an Amendment to certain
Warrant Agent Agreements (the "Agreements") between the Company and American Stock Transfer& Trust Company, ("AST").
The Company has implemented Agreements with AST as the Company's Warrant Agent (the "Warrant Agent"), under a
Warrant Agent Agreement dated August 1, 2014 for the Warrant ZNWAA, under a Warrant Agent Agreement dated November 1, 2016 for
the Warrant ZNWAE, under a Warrant Agent Agreement dated May 22, 2017 for the Warrant ZNWAF, and under the Warrant Agent Agreement
dated December 7, 2018 for the warrant ZNWAK. The Warrant ZNWAA has an expiration date
of January 31, 2020, Warrant ZNWAD has an has an expiration date of May 2, 2020, Warrant ZNWAE has an expiration date of May 1,
2020, Warrant ZNWAF has an expiration date of August 14, 2020, Warrant ZNWAH has an expiration date of April 19, 2020, Warrant
ZNWAI has an expiration date of June 29, 2020, Warrant ZNWAJ has an expiration date of October 29, 2020 and the Warrant ZNWAK
has an expiration date of February 25, 2020. Pursuant to Section 3.2 of the Warrant Agent Agreements, on
May 29, 2019, the Company in its sole discretion extended the duration of the above Warrants by delaying the Expiration Dates and
such extension shall be identical in duration among all of the Warrants. The Company extended the duration of the Warrant ZNWAA
by one (1) year from the expiration date of January 31, 2020 to January 31, 2021. The Company extended the duration of the Warrant
ZNWAD by one (1) year from the expiration date of May 2, 2020 to May 2, 2021. The Company extended the duration of the Warrant
ZNWAE by one (1) year from the expiration date of May 1, 2020 to May 1, 2021. The Company extended the duration of the Warrant
ZNWAF by one (1) year from the expiration date of August 14, 2020 to August 14, 2021.The Company extended the duration of the Warrant
ZNWAH by one (1) year from the expiration date of April 19, 2020 to April 19, 2021. The Company extended the duration of the Warrant
ZNWAI by one (1) year from the expiration date of June 29, 2020 to June 29, 2021. The Company extended the duration of the Warrant
ZNWAJ by one (1) year from the expiration date of October 29, 2020 to October 29, 2021. The Company extended the duration of the
Warrant ZNWAK by one (1) year from the expiration date of February 25, 2020 to February 25, 2021. H.
Warrant Table The warrants balances at December 31, 2019 and transactions since January
1, 2020 are shown in the table below:
Warrants Exercise Warrant Termination Date Outstanding Balance, 12/31/2019 Warrants Warrants Exercised Warrants Expired Outstanding Balance, 03/31/2020
ZNWAA $ 2.00 01/31/2021 1,498,804 - - - 1,498,804
ZNWAD $ 1.00 05/02/2021 243,853 - - - 243,853
ZNWAE $ 1.00 05/02/2021 2,144,470 - (196 ) - 2,144,274
ZNWAF $ 1.00 08/14/2021 359,585 - - - 359,585
ZNWAG $ 1.00 01/08/2021 240,578 - - - 240,578
ZNWAH $ 5.00 04/19/2021 372,400 - - - 372,400
ZNWAI $ 3.00 06/29/2021 640,730 - - - 640,730
ZNWAJ $ 1.00 10/29/2021 546,000 - - - 546,000
ZNWAK $ 0.01 02/25/2021 457,725 - (6,250 ) - 451,475
ZNWAL $ 2.00 08/26/2021 517,925 - - - 517,925
Outstanding warrants 7,022,070 - (6,446 ) - 7,015,624 I.
Warrant Descriptions The price and the expiration dates for the series of warrants
to investors are as follows * :
Period of Grant US$ Expiration Date
ZNWAA Warrants B March 2013 – December 2014 2.00 January 31, 2021
ZNWAD Warrants A,B January 2015 – March 2016 1.00 May 02, 2021
ZNWAE Warrants B November 2016 – March 2017 1.00 May 01, 2021
ZNWAF Warrants A,B May
2017 – July 2017 1.00 August 14, 2021
ZNWAG Warrants October 2017 – December 2017 1.00 January 08, 2021
ZNWAH Warrants A,B February
2018 5.00 April 2, 2021
ZNWAI Warrants A,B April
2018 – May 2018 3.00 June 29, 2021
ZNWAJ Warrants B August
2018 – September 2018 1.00 October 29, 2021
ZNWAK Warrants B December
2018 – January 2019 0.01 February 25, 2021
ZNWAL Warrants July
2019 – August 2019 2.00 August 26, 2021
* Zion's ZNWAB Warrants expired on May 2,
2017, and the ZNWAC Warrants expired on May 2, 2018
A On December 4, 2018, the Company extended the
termination date of the Warrants by one (1) year.
B On May 29, 2019, the Company extended the termination
date of the Warrants by one (1) year. |
