Zion Oil & Gas Inc (ZNOG)

[bdahl385]

Hello Dee,

The 31 day window is the IRS rule for buying back stock you sell at a loss to avoid the wash sale rule. You cannot take the capital loss if you replace your position inside that 31 day window.

As far as fund raising, I think the re-pricing of the warrants is step 1. Depending on how many exercise at the lower price will determine how much they need to raise in step 2, which will probably be another stock offering (most likely with more warrants as a carrot).

Now that the SP is significantly below the warrant re-price amount, that source of revenue raise is closed unless the SP recovers. Not likely in the short term after the Russell Index re-balance happens. Why exercise warrants at $1.75 when you can buy the stock at $1.65 (or less)?