Zion Oil & Gas Inc (ZNOG)

[CascadeInvestments]

FACT: They have been drilling/testing MJ#1 for over 1 year.

FACT: It's dry.

FACT: SEC investigation ongoing.

FACT: New CEO because the old one likely violated insider trading rules...a crook

FACT: History of screwing shareholders with overpriced capital raises (i.e. 81.8% dilutive Rights Issue)

FACT: No revenues, no reserves, big losses every year.

FACT: Companies that don't make a profit, die eventually.

FACT: With no fresh capital, the end comes real soon. ZN $0.

Honestly, who is stupid enough to underwrite another one of these capital raises? It's just baffling. They literally have NOTHING...no assets, no reserves, no proven history of discovering anything. I have more gas in my car than they have found in 18 years.