Zion Oil Frequently Asked Questions (FAQ) and Public Question Forum
We have prepared this page to allow our supporters and shareholders to ask questions and get thoughtful answers from us. We understand there is a lot of distortion and misinformation about Zion Oil & Gas on the internet. This page will help you get clear answers and get accurate information.
How to use this page:
1. Review the questions and answers below.
2. Ask your question in the comment field if you do not find the answer.
3. We will review your questions and answer as quickly as possible.
Note: We may not post all questions since there are likely to be repetitive questions or questions that we are not legally able to answer in this forum. If you wish to view investment related questions, please click HERE.
Zion’s common stock trades on the NASDAQ Global Market under the symbol “ZN”.
1. It is essential to understand that reportable compensation does not equal W-2 earnings.
2. Salary and Bonus represent less than 49% of all reportable compensation.
3. Stock options awarded, regardless of whether those options were exercised, represent over 38% of all reportable compensation.
4. It is important to note that there has been a company-imposed blackout period, restricting the sale or purchase of stock for all employees, implemented on May 15, 2017, which remains in effect to date.
The SEC has asserted no accusation of wrongdoing nor have they expressed any negative opinion of any person within Zion. Zion continues to fully cooperate with and work with the SEC.
On January 7, 2020, Zion Oil & Gas, Inc. (“Zion” or “Company”) received a written notice from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the Company’s continued non-compliance with the $1.00 bid price, as set forth in the Nasdaq listing Rules 5550(a)(2), the Staff had determined to delist the Company’s common stock and warrants from The Nasdaq Capital Market effective January 16, 2020, unless the Company requests a hearing before the Nasdaq Hearings Panel (the “Panel”) in a timely manner. The Company will request the necessary hearing before the Panel, which will stay any further action by the Staff at least pending the ultimate conclusion of the hearing process. During the pendency of the requested hearing before the Panel, the Company’s common stock and warrant securities will remain listed and trading on Nasdaq.
The Company is diligently working to evidence compliance with all applicable requirements for continued listing on The Nasdaq Capital Market and intends to submit a plan to that effect to the Panel as part of the hearing process. The Company will present its exploration plans with the sourcing of a drilling rig and other information on its prospects that should make any reverse-stock split unnecessary to achieve bid price compliance. However, there can be no assurance that the Panel will grant the Company’s request for continued listing on Nasdaq or that the Company will be able to regain compliance with the applicable listing criteria within the period of time that may be granted by the Panel. In the event that the Panel does not accept the Company’s plan for continued listing of the Company’s securities on Nasdaq, the Company’s common stock would be eligible for trading on the OTCQX or OTCQB, which is operated by OTC Markets, Inc.