this required the mj # 1 to be drilled to a much greater depth than previously expected . zion has tied these revised formation depths to seismic data which will allow for more accurate interpretation and mapping in the future . a summary of what zion believes to be some key questions left to be answered are : 1. is the missing shallow senonian age source rock a result of regional erosion , or is it missing because of a fault that cut the well-bore and could be reasonably expected to be encountered in the vicinity of the mj # 1 drill site ? zion believes this is an important question to answer because if the senonian source rocks do exist in this area , the high temperatures encountered are sufficient to mature these source rocks and generate oil . 2. do the unusually high shallow subsurface temperatures extend regionally beyond the mj # 1 well , which could allow for the generation of hydrocarbons in the senonian age source rock within our license area ? 3. as a consequence of seismic remapping , where does the mj # 1 well lie relative to the potential traps at the jurassic and triassic levels and was the well location too low on the structures and deeper than the potential hydrocarbons within those traps ? 26 as a result of these unanswered questions and with the information gained drilling the mj # 1 well , zion now believes it is prudent and consistent with good industry practice to try and answer some of these questions with a focused 3d seismic imaging shoot of approximately 50 square kilometers surrounding the mj # 1 well . zion received a multi-year license extension through december 2 , 2020. zion made its annual license fee payment on december 31 , 2018 , thereby confirming the company 's commitment to further exploration in the license area . the company has commenced preliminary scouting and survey design to help identify the geologic boundaries of the proposed 3d seismic survey . additionally , zion held initial meetings with potential vendors to aid in the 3d seismic planning and acquisition process . once the survey design and surface layout are completed , zion intends to acquire the necessary government permits and negotiate potential surface damages to crops , irrigation piping , and other surface features . zion believes it will be necessary to import seismic source equipment and autonomous wireless geophones ( to record the signal ) to acquire the 3d data . once data acquisition is completed , interpretation is the final step and will involve integration with , and modification of , previous work by zion technical staff . zion recognizes the financial and time commitment that zion 's shareholders have made in their support . zion 's ability to fully undertake all of these aforementioned activities is subject to its raising the needed capital from its continuing offerings , of which no assurance can be provided . zion 's ability to fully undertake all of these aforementioned activities is subject to its raising the needed capital from its continuing offerings through the issuance of our securities , and we anticipate we will continue to need to raise funds through the issuance of equity securities ( or securities convertible into or exchangeable for equity securities ) . no assurance can be provided that we will be successful in raising the needed equity on favorable terms ( or at all ) . our executive offices are located at 12655 n central expressway , suite 1000 , dallas , texas 75243 , and our telephone number is ( 214 ) 221-4610. our field office in israel is located at 9 halamish street , north industrial park , caesarea 3088900 , and the telephone number is +972-4-623-8500 . principal components of our cost structure our operating and other expenses primarily consist of the following : ● impairment of unproved oil and gas properties : impairment expense is recognized if a determination is made that a well will not be commercially productive . the amounts include amounts paid in respect of the drilling operations as well as geological and geophysical costs and various amounts that were paid to israeli regulatory authorities . ● general and administrative expenses : overhead , including payroll and benefits for our corporate staff , costs of managing our exploratory operations , audit and other professional fees , and legal compliance are included in general and administrative expense . general and administrative expenses also include non-cash stock-based compensation expense , investor relations related expenses , lease and insurance and related expenses . ● depreciation , depletion , amortization and accretion : the systematic expensing of the capital costs incurred to explore for natural gas and oil represents a principal component of our cost structure . as a full cost company , we capitalize all costs associated with our exploration , and apportion these costs to each unit of production , if any , through depreciation , depletion and amortization expense . as we have yet to have production , the costs of abandoned wells are written off immediately versus being included in this amortization pool . going concern basis since we have limited capital resources , no revenue to date and a loss from operations , our financial statements have been prepared on a going concern basis , which contemplates realization of assets and liquidation of liabilities in the ordinary course of business . the appropriateness of using the going concern basis is dependent upon our ability to obtain additional financing or equity capital and , ultimately , to achieve profitable operations . therefore , there is substantial doubt about our ability to continue as a going concern . the financial statements do not include any adjustments that might result from the outcome of this uncertainty . story_separator_special_tag ” the warrants became exercisable on january 8 , 2018 and continue to be exercisable through january 8 , 2021 at a per share exercise price of $ 1.00. the warrant terms provide that if the company 's common stock trades above $ 5.00 per share as the closing price for 15 consecutive trading days at any time prior to the expiration date of the warrant , the company has the sole discretion to accelerate the termination date of the warrant upon providing 60 days advanced notice to the warrant holders . on february 1 , 2018 , the company initiated another unit option program which terminated on february 28 , 2018. the unit option consisted of units of our securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) 50 shares of common stock and ( ii ) common stock purchase warrants to purchase an additional 50 shares of common stock . the investor 's plan account was credited with the number of shares of the company 's common stock acquired under the units purchased . each warrant affords the investor the opportunity to purchase one share of company common stock at a warrant exercise price of $ 5.00. the warrant is referred to as “ znwah . ” the warrants became exercisable on april 2 , 2018 and continue to be exercisable through april 2 , 2020 at a per share exercise price of $ 5.00 , after the company , on december 4 , 2018 , extended the termination date of the warrant by one ( 1 ) year from the expiration date of april 19 , 2019 to april 19 , 2020 . 33 on august 21 , 2018 , the company initiated another unit option and terminated on september 26 , 2018. the unit option consisted of units of the company 's securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) a certain number of shares of common stock determined by dividing $ 250.00 ( the price of one unit ) by the average of the high and low sale prices of the company 's publicly traded common stock as reported on the nasdaq on the unit purchase date and ( ii ) common stock purchase warrants to purchase an additional twenty-five ( 25 ) shares of common stock . the investor 's plan account was credited with the number of shares of the company 's common stock acquired under the units purchased . each warrant affords the investor the opportunity to purchase one share of company common stock at a warrant exercise price of $ 1.00. the warrant is referred to as “ znwaj . ” the warrants became exercisable on october 29 , 2018 and continue to be exercisable through october 29 , 2020 at a per share exercise price of $ 1.00 , after the company , on december 4 , 2018 , extended the termination date of the warrant by one ( 1 ) year from the expiration date of april 19 , 2019 to april 19 , 2020. on december 10 , 2018 , the company 's most recent unit option began and was terminated on january 23 , 2019. the unit option consisted of units of the company 's securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) two hundred and fifty ( 250 ) shares of common stock and ( ii ) common stock purchase warrants to purchase an additional two hundred and fifty ( 250 ) shares of common stock at a per share exercise price of $ 0.01. the investor 's plan account would be credited with the number of shares of the company 's common stock and warrants that are acquired under the units purchased . each warrant affords the participant the opportunity to purchase one share of our common stock at a warrant exercise price of $ 0.01. the warrant is referred to as “ znwak . ” the warrants become exercisable on february 25 , 2019 and continue to be exercisable through february 25 , 2020 at a per share exercise price of $ 0.01. the company raised approximately $ 2,000,000 from the period december 10 , 2018 through january 23 , 2019 , under the dspp and its most recently completed unit offering . for the years ended december 31 , 2018 , 2017 and 2016 , approximately $ 13,781,000 , $ 22,994,000 and $ 4,338,000 was raised under the dspp program , respectively . the warrants represented by the ticker znwaa are tradable on the nasdaq market . however , all of the other warrants characterized above , in the table below , and throughout this form 10-k , are not tradeable and are used internally for classification and accounting purposes only . 2018 subscription rights offering on april 2 , 2018 the company announced an offering ( “ 2018 subscription rights offering ” ) through american stock transfer & trust company , llc ( the “ subscription agent ” ) , at no cost to the shareholders , of non-transferable subscription rights to purchase rights ( each “ right ” and collectively , the “ rights ” ) of its securities to persons who owned shares of our common stock on april 13 , 2018 ( “ the record date ” ) . pursuant to the 2018 subscription rights offering , each holder of shares of common stock on the record date received non-transferable rights to subscribe for rights , with each right comprised of one share of the company common stock , par value $ 0.01 per share ( the “ common stock ” ) and one common stock purchase warrant to purchase an additional one share of common stock . each right could be purchased at a per right subscription price of $ 5.00. each warrant afforded the investor the opportunity to purchase one share

liquidity and capital resources liquidity is a measure of a company 's ability to meet potential cash requirements . as discussed above , we have historically met our capital requirements through the issuance of common stock as well as proceeds from the exercise of warrants and options to purchase common shares . our ability to continue as a going concern is dependent upon obtaining the necessary financing to complete further exploration and development activities and generate profitable operations from our oil and natural gas interests in the future . our current operations are dependent upon the adequacy of our current assets to meet our current expenditure requirements and the accuracy of management 's estimates of those requirements . should those estimates be materially incorrect , our ability to continue as a going concern will be impaired . our financial statements for the year ended december 31 , 2018 have been prepared on a going concern basis , which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business . we have incurred a history of operating losses and negative cash flows from operations . therefore , there is substantial doubt about our ability to continue as a going concern . at december 31 , 2018 , we had approximately $ 2,791,000 in cash and cash equivalents compared to $ 6,892,000 at december 31 , 2017. our working capital ( current assets minus current liabilities ) was $ 537,000 at december 31 , 2018 and $ 3,646,000 at december 31 , 2017. the derivative liability at december 31 , 2018 was $ 345,000 , and this non-cash liability negatively impacts the working capital figure .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources liquidity is a measure of a company 's ability to meet potential cash requirements . as discussed above , we have historically met our capital requirements through the issuance of common stock as well as proceeds from the exercise of warrants and options to purchase common shares . our ability to continue as a going concern is dependent upon obtaining the necessary financing to complete further exploration and development activities and generate profitable operations from our oil and natural gas interests in the future . our current operations are dependent upon the adequacy of our current assets to meet our current expenditure requirements and the accuracy of management 's estimates of those requirements . should those estimates be materially incorrect , our ability to continue as a going concern will be impaired . our financial statements for the year ended december 31 , 2018 have been prepared on a going concern basis , which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business . we have incurred a history of operating losses and negative cash flows from operations . therefore , there is substantial doubt about our ability to continue as a going concern . at december 31 , 2018 , we had approximately $ 2,791,000 in cash and cash equivalents compared to $ 6,892,000 at december 31 , 2017. our working capital ( current assets minus current liabilities ) was $ 537,000 at december 31 , 2018 and $ 3,646,000 at december 31 , 2017. the derivative liability at december 31 , 2018 was $ 345,000 , and this non-cash liability negatively impacts the working capital figure .
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 Suspicious Activity Report : this required the mj # 1 to be drilled to a much greater depth than previously expected . zion has tied these revised formation depths to seismic data which will allow for more accurate interpretation and mapping in the future . a summary of what zion believes to be some key questions left to be answered are : 1. is the missing shallow senonian age source rock a result of regional erosion , or is it missing because of a fault that cut the well-bore and could be reasonably expected to be encountered in the vicinity of the mj # 1 drill site ? zion believes this is an important question to answer because if the senonian source rocks do exist in this area , the high temperatures encountered are sufficient to mature these source rocks and generate oil . 2. do the unusually high shallow subsurface temperatures extend regionally beyond the mj # 1 well , which could allow for the generation of hydrocarbons in the senonian age source rock within our license area ? 3. as a consequence of seismic remapping , where does the mj # 1 well lie relative to the potential traps at the jurassic and triassic levels and was the well location too low on the structures and deeper than the potential hydrocarbons within those traps ? 26 as a result of these unanswered questions and with the information gained drilling the mj # 1 well , zion now believes it is prudent and consistent with good industry practice to try and answer some of these questions with a focused 3d seismic imaging shoot of approximately 50 square kilometers surrounding the mj # 1 well . zion received a multi-year license extension through december 2 , 2020. zion made its annual license fee payment on december 31 , 2018 , thereby confirming the company 's commitment to further exploration in the license area . the company has commenced preliminary scouting and survey design to help identify the geologic boundaries of the proposed 3d seismic survey . additionally , zion held initial meetings with potential vendors to aid in the 3d seismic planning and acquisition process . once the survey design and surface layout are completed , zion intends to acquire the necessary government permits and negotiate potential surface damages to crops , irrigation piping , and other surface features . zion believes it will be necessary to import seismic source equipment and autonomous wireless geophones ( to record the signal ) to acquire the 3d data . once data acquisition is completed , interpretation is the final step and will involve integration with , and modification of , previous work by zion technical staff . zion recognizes the financial and time commitment that zion 's shareholders have made in their support . zion 's ability to fully undertake all of these aforementioned activities is subject to its raising the needed capital from its continuing offerings , of which no assurance can be provided . zion 's ability to fully undertake all of these aforementioned activities is subject to its raising the needed capital from its continuing offerings through the issuance of our securities , and we anticipate we will continue to need to raise funds through the issuance of equity securities ( or securities convertible into or exchangeable for equity securities ) . no assurance can be provided that we will be successful in raising the needed equity on favorable terms ( or at all ) . our executive offices are located at 12655 n central expressway , suite 1000 , dallas , texas 75243 , and our telephone number is ( 214 ) 221-4610. our field office in israel is located at 9 halamish street , north industrial park , caesarea 3088900 , and the telephone number is +972-4-623-8500 . principal components of our cost structure our operating and other expenses primarily consist of the following : ● impairment of unproved oil and gas properties : impairment expense is recognized if a determination is made that a well will not be commercially productive . the amounts include amounts paid in respect of the drilling operations as well as geological and geophysical costs and various amounts that were paid to israeli regulatory authorities . ● general and administrative expenses : overhead , including payroll and benefits for our corporate staff , costs of managing our exploratory operations , audit and other professional fees , and legal compliance are included in general and administrative expense . general and administrative expenses also include non-cash stock-based compensation expense , investor relations related expenses , lease and insurance and related expenses . ● depreciation , depletion , amortization and accretion : the systematic expensing of the capital costs incurred to explore for natural gas and oil represents a principal component of our cost structure . as a full cost company , we capitalize all costs associated with our exploration , and apportion these costs to each unit of production , if any , through depreciation , depletion and amortization expense . as we have yet to have production , the costs of abandoned wells are written off immediately versus being included in this amortization pool . going concern basis since we have limited capital resources , no revenue to date and a loss from operations , our financial statements have been prepared on a going concern basis , which contemplates realization of assets and liquidation of liabilities in the ordinary course of business . the appropriateness of using the going concern basis is dependent upon our ability to obtain additional financing or equity capital and , ultimately , to achieve profitable operations . therefore , there is substantial doubt about our ability to continue as a going concern . the financial statements do not include any adjustments that might result from the outcome of this uncertainty . story_separator_special_tag ” the warrants became exercisable on january 8 , 2018 and continue to be exercisable through january 8 , 2021 at a per share exercise price of $ 1.00. the warrant terms provide that if the company 's common stock trades above $ 5.00 per share as the closing price for 15 consecutive trading days at any time prior to the expiration date of the warrant , the company has the sole discretion to accelerate the termination date of the warrant upon providing 60 days advanced notice to the warrant holders . on february 1 , 2018 , the company initiated another unit option program which terminated on february 28 , 2018. the unit option consisted of units of our securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) 50 shares of common stock and ( ii ) common stock purchase warrants to purchase an additional 50 shares of common stock . the investor 's plan account was credited with the number of shares of the company 's common stock acquired under the units purchased . each warrant affords the investor the opportunity to purchase one share of company common stock at a warrant exercise price of $ 5.00. the warrant is referred to as “ znwah . ” the warrants became exercisable on april 2 , 2018 and continue to be exercisable through april 2 , 2020 at a per share exercise price of $ 5.00 , after the company , on december 4 , 2018 , extended the termination date of the warrant by one ( 1 ) year from the expiration date of april 19 , 2019 to april 19 , 2020 . 33 on august 21 , 2018 , the company initiated another unit option and terminated on september 26 , 2018. the unit option consisted of units of the company 's securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) a certain number of shares of common stock determined by dividing $ 250.00 ( the price of one unit ) by the average of the high and low sale prices of the company 's publicly traded common stock as reported on the nasdaq on the unit purchase date and ( ii ) common stock purchase warrants to purchase an additional twenty-five ( 25 ) shares of common stock . the investor 's plan account was credited with the number of shares of the company 's common stock acquired under the units purchased . each warrant affords the investor the opportunity to purchase one share of company common stock at a warrant exercise price of $ 1.00. the warrant is referred to as “ znwaj . ” the warrants became exercisable on october 29 , 2018 and continue to be exercisable through october 29 , 2020 at a per share exercise price of $ 1.00 , after the company , on december 4 , 2018 , extended the termination date of the warrant by one ( 1 ) year from the expiration date of april 19 , 2019 to april 19 , 2020. on december 10 , 2018 , the company 's most recent unit option began and was terminated on january 23 , 2019. the unit option consisted of units of the company 's securities where each unit ( priced at $ 250.00 each ) was comprised of ( i ) two hundred and fifty ( 250 ) shares of common stock and ( ii ) common stock purchase warrants to purchase an additional two hundred and fifty ( 250 ) shares of common stock at a per share exercise price of $ 0.01. the investor 's plan account would be credited with the number of shares of the company 's common stock and warrants that are acquired under the units purchased . each warrant affords the participant the opportunity to purchase one share of our common stock at a warrant exercise price of $ 0.01. the warrant is referred to as “ znwak . ” the warrants become exercisable on february 25 , 2019 and continue to be exercisable through february 25 , 2020 at a per share exercise price of $ 0.01. the company raised approximately $ 2,000,000 from the period december 10 , 2018 through january 23 , 2019 , under the dspp and its most recently completed unit offering . for the years ended december 31 , 2018 , 2017 and 2016 , approximately $ 13,781,000 , $ 22,994,000 and $ 4,338,000 was raised under the dspp program , respectively . the warrants represented by the ticker znwaa are tradable on the nasdaq market . however , all of the other warrants characterized above , in the table below , and throughout this form 10-k , are not tradeable and are used internally for classification and accounting purposes only . 2018 subscription rights offering on april 2 , 2018 the company announced an offering ( “ 2018 subscription rights offering ” ) through american stock transfer & trust company , llc ( the “ subscription agent ” ) , at no cost to the shareholders , of non-transferable subscription rights to purchase rights ( each “ right ” and collectively , the “ rights ” ) of its securities to persons who owned shares of our common stock on april 13 , 2018 ( “ the record date ” ) . pursuant to the 2018 subscription rights offering , each holder of shares of common stock on the record date received non-transferable rights to subscribe for rights , with each right comprised of one share of the company common stock , par value $ 0.01 per share ( the “ common stock ” ) and one common stock purchase warrant to purchase an additional one share of common stock . each right could be purchased at a per right subscription price of $ 5.00. each warrant afforded the investor the opportunity to purchase one share

