Zion Oil & Gas Inc (ZNOG)

[Imperial Whazoo]

What I recall from an old post from someone was a caution that the timing of the actual delivery of shares obtained via exercise of warrants was controlled entirely by the company. Time between exercise and actual issuance was not defined. That was the gist of the posts about this matter.

So, if that is true (and my recollection was that somebody cut-pasted verbiage from the filing itself to prove this point), then the imprecise & unknown timing of the release of news would actually retard the flipping of shares obtained by exercise of warrants.... AT THIS TIME.

Consider the various scenarios:
The warrants might well get exercised and news could come out and such a person would end up with warrants that are not yet showing up in their account. The uncertainty would mean that a person could get caught betwixt and between. Alternatively, if the news were bad, and if they had spent the money right now (pre-news) to exercise the warrants, they could actually end up in a losing position.

So I do not think that these warrants are genuinely dilutive. Not yet, at least.

So, since the volumes are low today, IMHO, the reality is that there is not a rush on to exercise the warrants. My guess is that people will be waiting till news firms up the direction of the price chart.

IW