Zion Oil & Gas Inc (ZNOG)

[Porgie Tirebiter]

Outstanding Shares: 357,703,412 as of 12/14/2021
Held at DTC: 282,089,453 as of 12/14/2021

Outstanding Shares: 410,421,939 as of 02/07/2022
Held at DTC: 338,363,515 as of 02/07/2022

So in seven weeks the Outstanding increased by 15% while shares held at DTC (representing shares held in retail brokerage accounts) increased by 20%.

Assuming those DTC held shares entered the retail brokerage market at an average of 12¢ that's $6.75 million that went somewhere.

While not "proof" of anything, it's perhaps also not out of the realm of possibility that ZNOG's board may be lining their pockets by diluting their investors into oblivion?

And, should that be the case, wouldn't it be in their own best interest to not derail their gravy train by explaining this to their investors?

Perhaps the board's silence is telling?

https://www.otcmarkets.com/stock/ZNOG/security