Replies to post #38545 on Zion Oil & Gas Inc (ZNOG)

[BahamaPete]

Autoteester,

Zion has been extended until September 8, 2020

https://www.zionoil.com/updates/zion-oil-gas-vote-your-shares-by-proxy-9-8-extension-by-nasdaq-and-zion-podcast-episode-3/#

Also in the Proxy Vote Zion Oil is requesting to increase the Authorized Shares from 200 Million to 400 million, with no plans of a reverse split or they would have said so.

https://www.sec.gov/Archives/edgar/data/1131312/000121390020009367/def14a0420_zionoilandgas.htm

Rest assured they are not planning on a reverse split with no mention in the Proxy and you don't increase the Authoriized shares in a reverse split.

Looking forward to getting our new Drill Rig up and running!

BP

[DragonBear]

So can anyone explain why the stock prices are sideways

For years it had Tute&Hedgie support being part of the Russell 2000. That is no more. What you see is retail support.

or climbing?

Retail traders guessing with magic charts whether it's going up a few pennies. Then it will go down a few pennies and continue its flat wiggle. Exciting eh?

Yes, Sep isn't that far off. Extended from Jun due to Covid by the Nasdaq. Doubtful they will give another extension.

A 1:10 would be more appropriate. Pushing it above $2. Giving it a little more time, before the stock fades below $1 again.

As someone else pointed out they are going the opposite direction. Increasing the A/S. Dilution is always good for the PPS, isn't it?