Zion Oil & Gas Inc (ZNOG): I agree, JRyan. Without the 2, at the m...

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Re: JRyan post# 48776

Saturday, 05/21/2022 3:21:23 PM

Saturday, May 21, 2022 3:21:23 PM

I agree, JRyan. Without the 2, at the most 4, whales Zion would have been a bust after MJ01. The good news is they saved the company. The bad news is they now own controlling interest; I guess that is bad news, but don't really know whether they will be a positive or negative influence going forward.

In any event, Zion's funding changed dramatically from MJ01 to MJ02. In the MJ01 days there was an army of investors who funded the company through the DSPP. Since then its been a small number of whales funding the DSPP. For instance, the 1Q 10Q reported that 85% of the cash raised through the DSPP was from 1 participant.

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