Zion Oil & Gas Inc (ZNOG)

[DragonBear]

I doubt anything will come of this...

along with that expect the SEC to not file as the pending officers are no longer with the company

LOL. It doesn't work that way. Carillo was the CEO of record when the subpoena went out. Neither did everyone on the BODs resign before the period of time the SEC is investigating. Withing the 5 yr statutory limit. If the SEC finds anything, the actors up front will have fines against them, and run out of the market. With the company getting hit with the legal expense per their contracts. In addition the SEC will levy a rather heavy fine on ZN impeding its ability to conduct business. If the SEC can go back in time on the audits, and nail Brown, then no more Brown traveling the church circuits for the PDPP fund raising.

Best case scenario for ZN SHs is the SEC doesn't find anything in the audits. The SEC usually doesn't launch a "formal" investigation just for jollies. It takes resources, time, and money for an investigation. The odds are against ZN SHs. And that's why the PPS fell 50% when the investigation was acknowledged in a ZN 8K.