Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I read a post on Yahoo MB that stated 12-19-19 was the date given by ZN (supposedly from an SEC filing) when ZN would give notice of their intent to reverse split of their stock in order to maintain NASDAQ compliance should the need arise.
I never read this anywhere on any SEC filings or company emails.
I'm curious if any on this board read this anywhere?
Also, would ZN have to give "legal lead time" to announce a reverse split prior to the Jan 6, 2020 deadline? Reverse splits are normally announced about a week in advance (and often require a board vote) so in some ways Dec.19 might make sense...
Thanks in advance board!
ps -I really appreciated the great discussion yesterday regarding options from all that participated
Are you serious they can legally sell naked calls??? Now that seriously should be illegal. I guess that adds to "liquidity" right and we should all be grateful. With competition, the buyer wins right? I'll take some more calls at 1 cent please.
So we agree then that the hedge funds can't sell their ZN shares for over a year unless they first buy back to close at 5 cents. Seems to me their will always be a strong minimum market floor at 5 cents no matter the pending 3D results.
I agree 100%. So then you are saying the hedge funds that sold most of the Jan 2021 calls for 5 cents are fully willing to hold their ZN shares for a full year? It doesn't make much sense for the hedge funds to try and buy back at break even UNLESS they feel the need to sell their underlying ZN shares to avoid a large loss... Could they be trying to buy back now at 5 cents out of fear?
Even if I put a sell in at "market" the lowest it gets filled is 5 cents... Now the hedgies do manage to buy and sell under 5 cents for sure but who would they "line" up to do the selling sub 5 cents if they are hoping to buy to close at 1 cent? Retail option sellers (even with a market sell order) will only be allowed to fill at 5 cents. Seems to me the hedgies who sold the 5 cent calls are going to be stuck holding their ZN shares for over a year (and will be forced to ride a potential ZN loss if the price drops from today's 16 cents to a hypothetical 3 cents).
Could it be some hedgies want to close their books (that are expecting a further drop in ZN pps and want out) are buying back to close now at 5 cents? (currently 110 shares on the bid at 5 cents)
Thanks Porgie. Your knowledgeable insight is much appreciated. Do you happen to have an explanation for how Bearspread believes the writers of the options can close their sold open options without having to buy them back first? My thoughts are their only other choice would be to wait for the option to expire and only then they could finally sell the underlying ZN stock.
lol sorry nope. Everyone knows the risk and the POTENTIAL. It seems to me that these old 80 year old ZN investors are at least as wise as you. I hope your risky investment works out for you. I guess you are still holding onto your Jan 2021 calls. Don't want to miss out :)
Hey there fyi there are 110 Jan 2021 calls on the bid right now at 5 cents (if you got cold feet in holding your options you can bail now without a loss) Afterall this is such a sh*thole investment. ARE YOU SURE???
Bearspread you said regarding the 2021 calls: "By then the large writers will have "closed their positions" with no one left to sell to. Wonder that time decay will do by then"
My question is how can the writers close out their position on their sold calls without first buying them back? The original writers of the calls will be forced to hold their secured ZN shares UNLESS they buy back to close. If they sold to open at 5 cents they can cover by buying back at 5 cents or sub 5 cents if they get lucky as the buy & sale prices are in intervals of 5 cents.
If the writers of the calls don't buy back to cover their open sold calls, they will have to ride the price of ZN out until the options expire for at least a year before they are free to sell the under pinning ZN shares
Is ZN still capped at 200 million max shares? Per below they just registered for another 100 million but they are likely over 100 million shares presently...and I'm not including exercisable already existing outstanding warrants likely 30-40 million?
http://archive.fast-edgar.com//20191209/AL2Z822CLM22QT5L222J2ZX2CGEGZ222ZQB2/
Anyone know for certain if ZN should go pink will the options disappear immediately or still trade but with new option selling unavailable?
Thanks for heads up on the triple bottom. Very nice
Yes a great opportunity to buy ZN is right now. I wonder how many crazy ZN faithful have a half million shares or more at $80K? $25K gets you 500,000 Jan 2021 calls... If ever there was a time to take a long ZN risk/reward position - I think now would be the time.
Either his word is true or not. Without great news, I see a very difficult path forward for ZN. Has He taken us this far only to fail? ZN has been sustained way further than most ever could have imagined on this long and arduous journey. He will get the glory and the faithful who have vision & discern his timing will be rewarded.
This year Dec 22-30 is Hanukkah "the miracle of oil." The date perfectly coincides not only with Christmas but also when ZN must meet the $1 pps, 10 day concurrent minimum NASDAQ listing requirement which must be fulfilled by Jan 6th 2020.
I'm fully expecting ZN guys to open the MJ1 well cap and be very surprised at the oil that has already filled the hole (the cap could be under tremendous pressure so they best be careful). Remember that during drilling operations they discovered that 100 meter thick, perfectly porous rock reservoir - I believe around 5k feet down. That reservoir rock was put their for a reason by Him. Its going to fill up. (btw Saudi Arabia's super giant wells have the same reservoir rock formations but they are only 30 meters thick) Maybe an already existing fault line will have caused the oil migration to already have happened or perhaps future major earthquake or aftershock will yet to release the natural Fracken...
Ha! Yeah I know right? ZN going to $3 pps simply on a crazy good 3D seismic report does sound crazy. Even ZN going to $1 seems like an almost, insurmountable supernatural lift... ah but I'm encouraged by Joshua & Caleb.
Soon we will all know. In or Out. Hot or Cold. ZN decision time.
GUT check.
We will know exactly how good it is when Exxon comes knocking on ZN's door and ask for a very private meeting with JB...
Speaking of TIMING, remember that no MAJOR US oil players have even bothered to explore in Israel over the last 70 years. Yep it was because the Arab backlash & political pressure was too great. But now it seems TIMES r A-changing.
My America & Israel, partners in His plan.
Well now a little ZN tax loss selling "might" account for a small portion of savy sellers as its been a great year overall.
I hope ZN tax loss sellers don't have seller regret come Christmas.
Again though think logically, if ZN holders held out this long, do you really think they would risk selling right before potentially awesome pending news??? They don't want to miss out. Wash sellers possible (hoping to get back in ZN in time before news) but this scenario is gambling with risky time frame.
Look at today's ugly chart. Friends put your 10 cent limit orders in case we get any fun ridiculous dips in prices on a sudden spike. The big dip spikes always occur before the big rise with pending news soon to be released.
Pay attention to Level 2. Wide open now with not a lot of buyers but will big boys "tickler" trigger bids set off a rally scooping up any cheap shares buying up any future dips?
OR the big boys could EASILY slam this penny stock to sub 10 cents and hold her there.
Pure MM manipulation.
Oh the suspense!
-Selah and place your low-ball buy bids accordingly :)
Hardly. Mom & Pop are letting it ride. Lol their shares are likely still sitting in their AST accounts.
Which leads me to the following suspicion...
Is AST lending them out to short????
Are they allowed to short the box that feeds them? They did so in the past. Remember way back when the newly issued tradeable ZN warrants were issued. Price sky-rocketed and then bam went bust when retail could finally participate...
It seems very general. ZN is simply anticipating a great 3D seismic report and this shelf offering allows ZN (if needed) flexibility to fund future drilling and pumping operations through additional DSPP unit offerings (shares + warrants at pricing subject to change market driven). With great 3D seismic news, hopefully the existing warrants already issued through previous unit offerings will be fully exercised with no need of future unit offerings. With existing varying warrants outstanding, with great news, ZN should be able to immediately raise over 70 million (for instance if ZN goes to $3 this month).
CURIOUS to me is that ZN presently has a 200 million max approved share limit cap. They are over 100 million shares outstanding now... do the already issued 30+ million unexercised warrants count against the allotted 200 million share cap? If so that would leave only 70 million potential addition shares to be issued under the new shelf offering trying to generate 154 million in proceed$.
Will ZN soon announce board meeting approval of additional permitted shares to be allowed to be issued?
So Bruce you are saying that the faithful "mom & pop" ZN DSPP supporters have been the ones selling their newly minted 30 million ZN shares???? And at a great loss on investment???
C'mon Really?
I don't think so.
Logically it doesn't make sense. No one still holding ZN would be selling now and many ZN believers are doubling down buying much more. I'm not an expert, but just trying to understand how a stock has gone down 100% from 33 cents to 16 cents in the last 2 months when we all know NO "retail investors" would logically be selling NOW with news right around the corner. Again, those that wanted to sell have long since departed and at much higher prices (and this includes hedge & index funds).
It just seems like pure illegal manipulation.
Short squeeze of the century? Legally shorted or not, somehow the ledgers have to balance out for even the big boys. ZN shares are cheap but they don't just magically appear out of thin air... err, lol yeah the 1 cent warrants are close but no insiders are selling in quantity.
The Mediterranean is a basin like the Gulf of Mexico and the Dead Sea is the lowest place on Earth with major fault lines running underneath. Deep oil migrates all around...
So then Tothe you are inferring it is indeed possible to naked short a penny stock from 23 cents to 14 cents? Is this legal? If true, do shorts "borrow" shares to short out of thin air? Index funds aren't allowed to technically short their own ZN funds but can they slyly lend them out at crazy 50-80% interest rates for others to do so?
Will ZN's story be like Guyana? Parallels:
Miracle stories happen. Heard of that small mostly Christian country Guyana? Yeah that small country that borders Venezuela and has under 1 million previously very poor citizens lol! Guyana is going to be a soon oil producing TRULY MAJOR oil player (as big as Venezuela #1 in OPEC reserves) and the discoveries on her waters are still ongoing! The miracle aspect of Guyana's recently discovered major oil reserves is that EXXON only just discovered it after DECADES of other companies exploring and drilling 100% unsuccessfully. Now all of sudden BAM huge discovery after discovery! Timing is everything right and who controls that I always like to point out.
https://corporate.exxonmobil.com/News/Newsroom/News-releases/2019/0916_ExxonMobil-announces-oil-discovery-offshore-Guyana-at-Tripletail
Sept 16, 2019: ExxonMobil announces oil discovery offshore Guyana at Tripletail
IRVING, Texas – ExxonMobil said today it made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block.
ExxonMobil announces oil discovery offshore Guyana at Tripletail
Share Print Top
Tripletail-1 well is located in Turbot area on the Stabroek Block
Fourth drillship to begin Guyana operations in October
Tripletail-1 encountered approximately 108 feet (33 meters) of a high-quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet (2,003 meters) of water, is located approximately 3 miles (5 kilometers) northeast of the Longtail discovery. After completion of operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately 6 miles (10 kilometers) east of the Liza field.
“This discovery helps to further inform the development of the Turbot area,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Together with our partners, ExxonMobil is deploying industry-leading capabilities to identify projects that can be developed efficiently and in a cost-effective way.”
Exploration and development activities are moving forward elsewhere on the Stabroek Block offshore Guyana. The Stena Carron drillship is currently drilling the Ranger-2 well and upon completion will conduct a well test at Yellowtail-1. The Noble Bob Douglas drillship is currently completing development drilling operations for the Liza Phase 1 project. ExxonMobil will add a fourth drillship, the Noble Don Taylor, in October 2019 as we continue to optimize our drilling plans based on well results and ongoing study of the basin.
The Liza Phase 1 development remains on schedule to start up by early 2020 and will produce up to 120,000 barrels of oil per day utilizing the Liza Destiny floating production storage and offloading (FPSO), which arrived in Guyana on August 29, 2019.
ExxonMobil approved funding for the Liza Phase 2 development after it received government and regulatory approvals in May 2019. Expected to startup by mid-2022, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels of oil per day. Pending government approvals, a third development, Payara startup could be as early as 2023 and production would reach an estimated 220,000 barrels of oil per day.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.
Bullish indicator. Again today watch the option market. Sellers are drying up on all months from Jan 2020 - Jan 2021. Only 5 cent available at the ask is Jan 2020...
Interesting option action today as price steadily climbed. Option sellers dried up in afternoon and ask bids taken out. Could be the start... Stay tuned
Timing is everything. ZN is in his plan. Know the signs.
https://www.bloomberg.com/news/articles/2019-11-29/saudi-aramco-ipo-subscriptions-reach-total-of-44-3-billion
Where online did you see this chat?
You can choose to believe the "good" report on ZN or "bad". Somewhere I have this before.
-Caleb
Nice reversal with strong buying uptick. Very interesting. Plays like today get day traders back in heavy and we have one heck of an unknown catalyst on deck. Stop losses taken out on a penny stock? Strength testing?
Translation = Accumulation
get the day traders active for cover, shake out what they can from retail & slyly accumulate
Bearspread. Two things. Obviously it's been MANY years since ZN shares were available to PUBLICLY short in the traditional definition. I'm not referring to this type of shorting. Also of course I know how management incentive options work. But you miss my point completely. Insiders COMBINED exercised and sold 250,000 "1" cent options for 20 cents which amounted to a whopping TOTAL of $50k in profit lol. Meanwhile ZN's CAP is immediately manipulated down over 5 million as ZN pps is pushed down from 20 cents to 14 cents. SHORTING a stock doesn't have to meet the definition of selling and then buying to close at a profit. On thinly traded stocks (such as ZN) short teams often work together or independently to drive prices down by selling back and forth in buckets all the while buying up the weak hand sellers. You know this right? Neat indeed as you like to say.
RE: "Insiders exercise stock options at an exercise price of 0.01. Then later sell them to market at the going price. A 20X profit. Neat.'
I'm your Huckleberry. Huge 271k share 20 cent ask is sitting on the bid. I would love to have an extra 55K and take that out. Hmmm
Yes indeed the timing correlates. So riddle me this, 50K in total insider stock sale proceeds dated 11/18/19 translated into a 5 million dollar ZN cap haircut but no naked shorting? I'll never understand how millions of shares exchange hands without it being naked shorting. How many shares did it honestly take to push price down from 30 to 20 and then to 15 cents? Lol I know I know just make hay and view as an opportunity. Still just wrong. The market never sees a merciless short squeeze as brutal and frequent as the short attacks. I have always thought it would be brilliant to form a bull contra-short hedge fund with a profit strategy to hugely buy up massively shorted companies forcing short sellers to cover at 100% -500% loses. Take ZN for instance, what if a hedge fund started buying up 2 million worth of ZN stock at 100k clips daily (10-15% of company)? Shares sure enough would magically appear and pps would hardly budge. Firms take huge new positions all the time with little affect on pps (until the big boys want the price to move up). AMD is a recent great example.
Tothe would you call today's action a short consolidation flag? All I see was ZN trading to a flat finish. ZN basically followed the market after the morning run-up & broke yesterday's resistance around noon. But I know the charts can be deceptive especially with thinly traded stocks. Anyhow I'm looking forward to breaking the next level of resistance at .22 tomorrow. Set your buy & sell flips and walk away for the day.
Jan 2021 calls still holding strong with 10K on the bid all day at $.05 and no takers? Curious. Updated Conservative risk reward play for today's price: Buy ZN @.20 and sell Jan 2021 calls for $.05 Make an immediate 25% profit (reducing effective purchase price from .20 to .15) And you still get to keep any potential upside up to $.80 which would translate into an additional 700% gain should ZN rocket to over $1. Downside risk is that shares are locked down (unless you buy back and very illiquid and price goes to zero with potential loss of 15 cents.
EXTREMELY favorable 7:1 gain/loss conservative hedging setup
Gentlemen, its rather obvious that ZN is using a little known Albanian & Serbian companies to log & process the 3D images due to the drastically lower cost. ZN is working on a shoe-string budget making every $ stretch. I trust ZN management in that they did their due diligence and are comfortable with the quality of their selected companies' previous work.
NOW the kicker is if this Serbian/Iranian processing company comes back to ZN and has an absolutely AMAZING discovery to report. This poses a big problem for ZN management. Do they put it out in a press release early and risk potentially being questioned or later having their results to be found in error which would result in a potential big legal liability. Or would ZN then choose to have a well known respected American or Internationally recognized company verify results - which I think would require them to completely re-process the log data independently thus doubling the time...
Ya know a delay by ZN could be a good thing... tick tock
Shalom!
Good call Tothe. We didn't get to 3 million in volume but perhaps that will come tomorrow after we retrace back to .25
Hammer time. On our way back to .20 - can we get 3 million in volume today???