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zn short % continues to average above 50% for last 20 days as it often does and ca 63% the last reported trading day friday
so their tune has not changed
http://www.volumebot.com/?s=zn
another suit filed-in LA -same purpose and language-its on the crawler-any cases would likely be consolidated and hopefully PR re commercial oil will be issued 1st
https://www.hg.org/legal-articles/how-is-a-class-certified-34656
redo
redo
thanks for sharing this after a period of reflection
it would be nice to see a PR re a commercial find by Wednesday-hopefully their have been no further recent delays
maybe kyoil can answer whether they can begin composing a PR or filing if it contains a lot of testing data as they go or whether they have to wait for all testing to be done before they can start composing the testing/geology info into a filing etc
previous filings have been very very detailed re geology etc even when they had a dry hole-but a PR would not need to be anywhere near so detailed-and so i suppose they would issue a PR 1st
if i understand right tisdal said zn would have to forward the info to israeli authorities before releasing a PR? or before a filing re testing results?
i know most companies wouldnt have to do that but the nature of an oil lease from israel might require it?
But if Israel and zn are not concerned about geopolitical considerations maybe zn would not have to notify israel 1st(and wait for their answer)
very nice thorough posts - i agree- PR re oil test results would also comfirm zn's pretest result statements re oil in the drilling mud,which likely were at least part of the basis for an sec investigation
and discourage others from wasting their time joining a suit
the over 4m derivative liability is a contingent liability which will not cost if they announce commercial oil -thus their over 7m current assets as of june 30 should last longer than sept 30-there will be dssp money
their sept 30 run out date is likely conservative as is required by 10q filings
just as their previous run out date of july 30 never happened
but i agree that they would not postpone test results
way to premature to worry about de-listing - if oil would not be de-listed bc pps would remain ok
sec fortunately does not de-list- worst that can happen is if an officer is found criminally guilty of something- highly unlikely in zns case- which would have consequences for that person-e.g removal from office- but not zn itself
due to zn's market cap etc zn likely could remain on nasdaq for some time even if pps falls below 1 dollar as the following explains- i've seen co's given 180 days to get pps up to 1 dollar
if delisted zn could likely move to the otc OTCQX,which was created in 2009- many of the requirements are similar, but, e.g, the min bid price only has to be 10c or 25c
a lot of foreign blue chips are on the OTCQX bc its cheaper etc -fees are not ca 150k /year as w Nasdaq Global Market
walmart of mexico and adidas are examples of companies that were on the OTCQX
https://www.investopedia.com/investing/the-dirt-on-delisted-stocks/
First mention of oil(in the drilling mud)was Feb 13 PR- pps jumps from ca 2.30-4.47 in a day
shorters dont like that-a wildcatter in israel would normally be a safe bet
so they determine to get their old friend sec involved and file complaints,as a post posting a message from ir said
and ask for foia request-
panda is delighted to find their may be an investigation-(which likely may have to do with the announcement of oil and fundraising pursuant to such announcement)
doesnt necessarily mean there is an investigation against zn-
could be against an individual or another company with which zn does business -
may 15 letter from sec to panda doesnt say -
so even if zn knew of such letter that would not give knowledge of sec investigation-you dont know til sec informs you
jryans post where panda learns his fioa request is denied ca May 15
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=142139932
i guess nobody has found the rest of the letter panda purposefully doesnt provide
zn receives notice of investigation june 21
a very basic function of the law is to provide at least 20 days to respond to a suit or investigation
zn did respond to sec no doubt within 20 days and posted an 8k re the investigation within 20 days.
how zn could be held responsible for posting within the allowed 20 days is beyond me
the wording of such a filing would have to be composed and ratified by counsel and perhaps by b/d
is such counsel an outside counsel-usually is- and in dealing w sec almost always is because it takes time to find a very specialized attorney approved by the sec to practice before the sec-very few attorneys are so approved
-stocks are a very specialized subject matter-i learned absolutely nothing helpful re stocks in my accounting eco and law degrees
though acct is very useful for financial statements and ratios of course
and sec is a specialized subset of a specialized subset
redo
'More specifically, this litigation was filed because according to the Complaint, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Zion was either already or was likely to soon become the subject of an SEC investigation; and (2) as a result, Zion’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.'
so shorters get sec to investigate and then claim zn failed to disclose such investigation before anybody outside the sec except maybe panda knew of such
again how was zn suppose to know-panda's foia request wasnt even known to us dd researchers-specifically jryan etc til after mar 12
i looked at mar 12 posts -nothing re this
the 1st post re such suit filing was 2:38 pm -it says so right on your post
'Determining reserves for this investigation is a fact-intensive process that requires significant judgment.'
that is a difficult one to determine
a Reserve can be an accounting entry that properly reflects contingent liabilities-bu the companies future costs to confront the investigation is not a contingent liability-you dont have liability to yourself.
but any sec fines would be a future liability -but not one u can determine right now
https://en.wikipedia.org/wiki/Reserve_(accounting)
so the the term can mean different things and im searching for the word i would use while writing this without finding it yet
since fin reserves often means shareholder equity etc,although legislators alow the use of such term in financial context its not a term i would use-
before zn learns of sec how do they create such a reserve-i've never seen any reserve fin language in zn docs to my memory except the contingent liability for the derivative resulting from the senior bonds and for any bond for environmental cleanup and closing of a well
and fin reserve is set up ahead of time-much easier to do if u have income
inter alia,i have an accounting degree and have read 1000's of 10q's and i dont remember hearing this language before re financial reserves despite its allowed use-only oil reserves-and since this is an oil company i would think they would use another word for financial to avoid confusion
and no amount of fact finding can determine financial reserves- their 10q noted the uncertain nature-an sec investigation can wrap up quickly i suppose if they determine no violation or can go for years so how do u determine reserves for that??
i see the timing of the filing as suspicious-even though i now know and just posted the reason for the suit -supposed non disclosure of sec investigation earlier,just before a forecasted PR re testing results,
if those results prove a commercial find,imo that will justify whatever statements that zn made that the sec may be investigating
and imo render the lawsuit largely moot for the same reason
so determining oil reserves will be very influential in both actions
which would be additional reasons for determining oil reserves
i didnt see any set aside in 10q for litigation costs either-the CEO Victor is a lawyer and a former judge and at least 1 member of b/d was a litigation attorney-i'm waiting to see if his involvement w this pops up)(40-50% of lawyers never see the inside of a courtroom- i've seen experienced senior attorney general lawyers sweating profusely at a very simple admin hearing
yes, tisdal did receive that response to my knowledge since he posted it
but there was another post by somebody who doesnt post much whose ir reply said something about ir would not be notified more than 24 hrs in advance-which makes sense when u are being watched and actually makes ir's job easier bc they arent attempted in replying to emails to give an unauthorized tidbit
tisdal, i dont know what that other medium would be since these stock boards are my only social media footprint since,inter alia,i'm a privacy advocate and only entered these boards to save my best friends families house and their lives
will try again next free opportunity
this is not the post mr TAB that i was looking for but its on point-so far have searched posts from 7-12 to 7-17 time frame
Operational management has decided to only give investor relations information mere moments before releasing it publicly. In this way, we are not in the position of withholding or presenting a false [or two differing] fronts.
...
I cannot personally tell you more than what has been released publicly. I support this partition of information, but do see a positive enthusiasm with executive management and geoscience staff while enduring a realistic waiting period.
it was posted as a reply from ir several weeks ago-maybe july 17 or earlier- by somebody if i remember right who doesnt post often
i assume you have used the go to post number search function-i used such to find the post which said officers were 'exuberant'etc and quickly found the post-3rd post i looked at
REDO
yes, 10Q'S are a supplied template provided by the sec which asks the company to address every doubt and possible contingency known to man -which i guess assumes investors are clueless -
a completely different purpose than a PR-some take advantage of that supplied dire template to pretend its something that applies only to the company commented on-
and all companies without net income can be netted into the going concern category-that is ALWAYS brought up
thus 10q's are always good fodder-
the 1st post re the lawsuit was 2.38 pm est and the drop began 2 minutes later 2;40 pm est-just another possibility
growing up in the situation i did i watched as the adversary manipulated people at will
distractions/attacks always come just before payday to prevent the good guys from reaping a harvest
the adversary knows whether there is a commercial field-if there were not then why all the games to scare faithful away from a harvest and weaken their faith to boot-if it were a dry hole adversary would want pps to rise so longs would lose MORE
by reducing pps in last weeks games,longs total possible losses from value now to value after a dry hole are minimized - illogical if a dry hole
time frame concerned began 3-12-18,date of 10k-otherwise no zn representations were made that date- and 1st PR's re oil found were 2-13 and 2-26- biggest representation is oil found-so why start the period of so called misrepresentation 3-12-maybe bc the 1 or more clients didnt buy til 3-12
there were no panda games till later in march known to us, let alone zn,so no grounds re zn knowledge of sec on 3-12 there
leaving basically just logistical and mechanical and equipment delays,which always occur and occur in EVERY company- this is not a texas field where u have 100's of offset wells and known quantities etc
reading the 3-12 posts a couple holders were very impatient then but they held long before 3-12
that 96k shares or so sell was also within ca 4 minutes of the posting re shareholder lawsuit
I agree-including the big reason zn is under attack now that they are close to announcing a commercial find
a judge would consolidate the suits into 1 suit
as i posted before ambulance chasers are trying to create some new right or guarantee
nobody forced them to sell
and when zn announces a commercial field,where are the accusers and the lawsuit then? how do you then show misrepresentation!!
another lie is that their clients will actually receive a substantial amount of money -most people who have been part of a class action-including myself -receive only a few dollars evenif suit is successful
another lie is that they care about their client -they only care about the money they earn-it usually is only the lawyers who win -
the updates- 1 before mar 12 and those after to june 19- are below
https://www.zionoil.com/updates/zion-oil-gas-successfully-drills-logs-and-cases-deep-israel-well/
https://www.zionoil.com/updates/press-release-zion-oil-gas-mobilizes-equipment-to-israel-for-well-testing-operations/
https://www.zionoil.com/updates/press-release-zion-oil-gas-announces-subscription-rights-offering/
https://www.zionoil.com/updates/zion-oil-gas-resumes-operations-on-megiddo-jezreel-1-well-in-israel/
https://www.zionoil.com/updates/zion-oil-gas-operational-update-on-megiddo-jezreel-1-well-in-israel/
https://www.zionoil.com/updates/zion-press-release-zion-oil-gas-june-19-operational-update-on-megiddo-jezreel-1-well-in-israel/
when a commercial field is announced any shareholder will be hard pressed to prove damages
they only suffer loss when they sell at a loss and nobody forced them to sell-it was possibly their ignorance of what a non public fact finding investigation was that caused them to sell bc such does not affect what zn has in the ground
Zn is not an OTC co- bit a big board Nasdaq Global Market company-not merely a Nasdaq company-so via 10q's etc and almost monthly PR's plenty of info...
Zn cant PR the panda junk and say we might be investigated -any company might be investigated at any time
to say they were under investigation before they knew would be misleading
the law gives entities 20 days or more to respond to an investigation or action- thus the timeline between learning of investigation and announcing it to give the company an opportunity to respond,which Zn did within the required time frame
so this is an ambulance chasers creative attempt to create a right/ promise/ guarantee that doesnt exist- all law firms care about is their fees and the name(which means more clients/money) that comes from creating a precedent,and class action clients seldom receive much- i was in two if i remember right and the payout was under 5 dollars each time as i remember,which wasnt worth the time to collect
if the law firms were successful, companies might have to start saying in every PR/filing that they could be investigated by the sec-
and maybe they should throw in that mankind might succeed in his permanent unending quest to destroy mankind before shareholders can reap profits- and create a contingency fund for such an armageddon event!
but the law doesnt care about truth justice or honor
law school said, "forget childhood concepts of truth justice honor morality integrity etc. Those things no longer exist. There is no truth-no justice, no morality. You are HITMEN!!'
As far as i know i was the only one to graduate w conscience intact but i felt like my spirit was dying my last year due to the 10's of thousands of pages of demon-- bs-- so i had to read the word daily to keep my spirit alive and prophecies over me indicate i have a stronger spirit than anybody -the only 1 known to survive the type of cult i grew up in without being captured or killed-and i was so bad that i saved many lives and broke up cults
i was sent to warn the legal system for decades "but they refused to hear or listen", a common situation among 'i am god and created this universe and am not accountable to anything" deceived humans.
welcome to the party
sorry to disappoint your efforts to get me for insider knowledge bc i have none
straight from the 10q 600k/month when not drilling/testing
plus 1.6m more when drilling /testing = 2.2 m -pretty simple -p.29
the nature of a 10q requires co's to be conservative-but i think they are extra conservative
the 7.8m current assets at 6-30-18 plus additional dssp funds etc would carry beyond sept 30-especially if not drilling /testing the entire time -remember in previous 10q they estimated funds only to july 31
from 10q:
"We expect to incur additional significant expenditures to further our exploration and development programs. We estimate that, when we are not actively drilling a well, our expenditures are approximately $600,000 per month excluding exploratory operational activities. However, when we are actively drilling, testing or completing a well, we estimate an additional minimum expenditure of approximately $1,600,000 per month. The above estimates are subject to change. Management believes that our existing cash balance, coupled with anticipated proceeds under the DSPP, will be sufficient to finance our plan of operations, through September 2018."
since some keep calling this an affinity scam- are all these big funds like vanquard a part of the scam?
they dont believe like us and yet they are buying and increasing their positions and those money managers are bound by fiduciary duty
add up the daily figures and cf to bimonthly reports gives an indication of the shorts mm's are hiding from the bimonthly reports where they have 3 days and literally a dozen ways to hide the true short number
good reminder that these tests are numerous and required
so zn will probably submit report to israeli authorities before pr and such report presumably will have much more technical data than forthcoming pr
are such reports to israel kept confidential? to prevent corporate espionage?
i haven't yet studied pr's since oil in the mud since feb13 pr re testing since then-testing which proceeded in batches? interrupted by need for more equipment-is this when the new bop was ordered and installed?
does anybody have a timeline on the testing and interruptions since feb 13?
https://www.otcmarkets.com/filing/html?id=12903001&guid=XZ_EUnslwP_m6th
10q is fine-nothing wrong that i can see-its a dire template as discussed already which sheds companies in the worst possible light
good to get 10q out of the way -would be possible problems and lots of yammering if it were late and 1 less thing for zn to deal with as reports detailed by tisdale are being done in next 2 weeks- a red tape world
this one is available everyday
http://www.volumebot.com/?s=zn
yes,10q's are templates provided by the sec which asks the company to address every doubt and possible contingency known to man -which assumes investors are clueless -
a completely different purpose than a PR-and some take advantage of that supplied dire template to pretend its something that applies only to the company commented on-
and almost all companies without net income can be netted into the going concern category-that is ALWAYS brought up
thus 10q's are always good fodder for some
ZN's current ratio-the ratio of current assets to current liabilities- is just fine -about the same as walmarts current ratio-and excellent for a non revenue company
after eliminating the contingent derivative liability,which is presently just an accounting notation and not an actual debt-and if they have a commercial well the contingent debt will not actualize-zn would have a current liability of ca 4.59 m -a current ratio of 1.7- something blue chips like walmart can only hope for
but milk it for all its worth til the pr shows a commercial find possibly next week -so tromp it into the ground like everything else
the date of this report -the 10q -was june 30- as per june 19 PR had logistical delays - so probably started new testing june 23 or 24 after the sabbath, as tisdale said
so as of june 30-only a few testing days later -they would not know whether the well was commercial yet-same thing Dustin said June 5 stockholder meeting
almost 6 m cash equivalents plus 568k value added tax refund due from israel etc so a min of 6.5m available shortly
Current assets
Cash and cash equivalents 5,937 6,892
Fixed short-term bank deposits – restricted 521 1,197
Prepaid expenses and other 325 434
Other deposits 337 540
Governmental receivables (see Note 8) 568 1,237
Other receivables 154 133
Total current assets 7,842 10,433
"We will need to raise funds in order to drill our next exploratory well to the desired depth and to conduct any post drilling testing that may be required'
as of june 30 they only had maybe 5 days of resumed testing-so didnt know whether commercial yet-10q's are legal docs which are required to use the most conservative and dire language for company protection-which is why naysayers like to use 10q language -those not familiar w 10q's may not understand- thus its normal for 10q's 10k's etc to look like a different planet than PR's
zn always has recourse using defamation and tort law-if they give away that recourse by signaling they are too xtian to sue they are not being as wise as wolves as the word
commands
other than the convertible bonds and associated derivative liability(a contingent liability on conversion which will not actualize if zn has a commercial well) they dont have much current debt
the games start re 10q-merely says testing will be completed 3rd qtr-we ARE in the 3rd qtr which started june 30 and ends sept 30-nothing new re that
expenses of 600k/month when not drilling or testing and estimated 2.2m /month when drilling or testing
we saw the form 3 before for the 1st item below
Note 9 - Subsequent Events
(i) On July 2, 2018, the Company granted options under the 2011 Non-Employee Directors Plan to one new director to purchase 25,000 shares of Common Stock at an exercise price of $4.15 per share. The options vested upon grant and are exercisable through July 2, 2024. The fair value of the options at the date of grant amounted to approximately $55,000.
(ii) Approximately $400,000 was raised through the Company’s DSPP program from July 1 through 30, 2018.
10q out 1 week ahead of due date just like last qtr
yes just as much cash /cash equivalents as of june 30 as at 3-31
due to raising 9M during the qtr and only expending 2M for operations for the 3 months ending 6-30 -3M rights offering and 6M raised from sale of stock and warrants during the qtr
if so in the top pic that might be mt tabor on upper left
a smaller chance the pic below is looking s but dont see settlements at the foothills and the apparent distance of these mts is greater than the 3.25 miles to west bank mts imo
u see in the pic below from kibbutz looking s the west bank mts are much closer and the rig is miles closer to west bank mts than the point of reference of this pic
and the foothill settlements are easily seen in the west bank mts below-my only consternation is i thought the pad was oriented n-s
and if the rig pic was purposefully taken to hide nearby identifiers
https://www.sec.gov/Article/about-commissioners.html
jackson and peirce commissioned jan 11 as trumps appointees confirmed by senate -clayton probably trump appointee since began 2017-
suppose to be non partisan w no more than 3 of 5 commissioners belonging to same party but an unprecedented level of politicalization occurred from 2009 to 1-20-17,during which time the swamp era had orders to destroy business. That era is now over at the very top ,which hopefully means we will see due process,truth and justice.
If so, should be no problems bc ZN has the (combination of the) most openness and integrity and witness that i've seen.
remember the ir responses that zn is not concerned -yet at the same time zn is taking it seriously and devoting the necessary resources to such as per the july 11 filing-CEO Victor is a lawyer and former judge, which helps also
civil actions can penalize honest mistakes which is as bad as it should possibly get-but civil actions require only monetary penalties not affecting big investors which have already been thru such process themselves-so even if sec proceeds w a civil action only should be no problem
criminal actions require criminal intent and are much more rare, partly due to the increased burden of proof(90% likelihood burden of proof of intent vs 50% likelihood of civil negligence) re showing criminal intent
unless due process is egregiously violated -which i dont see now bc sec swamp era is hopefully over but also due to the prayers of the saints/zn-but there are groups relying on the sec to do their bidding as in the past
the likelihood of that is lessened by ZN's 2 stated biblical goals and by the resulting unique unity of faith exhibited here
I'm guessing top photo taken from northern part of west bank mountains where such meet the n part of pre 1967 israel
with the n-s highway shown looking n to the megiddo valley where zn is located follows the n slope of west bank mts border w N part of israel proper and then proceeds n
bottom photo - distance to jordan river and west bank mountains is ca the same but
1) west bank mountains appear closer than these jordan looking mts
2)west bank mountains show settlements in the foothills -whereas these more distant mountains dont show settlements and thus appear drier
so my guess is its looking east to unsettled jordan mountains just east of the jordan river
not looking North bc dont see sde kibbutz or beit shean-
not looking WEST bc dont see the big archaelogical dig/park or other kibbutz or west bank mts
somebody else said something different weeks ago
for security reasons these things are hard to verify on google as discussed before
the non earthly inspired warfare leading up to the announcement we hope to hear next week has been unprecedented in ZN history
some have been faithful to the ZN vision for the entire journey but the adversary has done everything he can to get such investors to give up just before the prize-its always this way
so John Brown the chairman and visionary is exhorting investors to stand strong and not give up-using portions of the Heb 11 hall of faith to encourage us imo
yes both apparently taken during the wet oct - april season
re scams-very few bother to be sec reporting and most of the sec reporting scams i've seen keep changing the business model
also a defamatory reckless disregard for the truth accusation of scam shows they dont believe the unprecedented ZN business witness or the ZN purpose bc they dont believe
sounds good
https://en.wikipedia.org/wiki/Midstream
re a rant re debt as of last 10q zn had 7.1M current assets-raised ca 5M since
and excluding an unlikely contingency for the convertible bonds only 2.9m current assets,which is a better current ratio than walmart which has had more cl's than ca's for several reporting periods
accounts payable is just a part of doing business
the post about zn debt forgets the main issue that there is no typical series of toxic convertible notes
sorry- hijacked this post to answer that so i dont put money in somebodies pocket
thats about right-and the rig is ca 600 or so feet below sea level which is lower than death valley
every 1000' of elevation is like going 600 miles north
so if your tx elevation is 400' above sea level,all other things being equal you should see vegetation equal to a place ... and amount of rain and forest cover matters a lot also-vegetation produces and attracts moisture,so when forests are replaced by fields temps increase and precip decreases
you see this in texas also-whats your elevation in texas? forgot where u said u lived there
since you are a mechanic i usually post this pic to post to you
i dont know if the site for biet shean was posted to the board info or not as dby3? and i or somebody else discussed weeks ago