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Note 11 - Subsequent Events
9 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]
11.
         
SUBSEQUENT EVENTS:
 
The Company has evaluated events that occurred subsequent to
March 31, 2021
for recognition and disclosure in the financial statements and notes to the financial statements.
 
From
April 1, 2021
through
May 10, 2021,
the Company has sold
20,000
Units of its securities at
$0.50
per Unit for aggregate consideration of
$10,000.
Each Unit consists of
one
share of common stock and a callable warrant to purchase
one
share of the Company's common shares at
$0.75
per share until
December 31, 2021.
 
From
April 1, 2021
through
May 10, 2021,
Smith has received
85,833
Units in exchange for
$36,000
of salary and
$10,060
of expenses and accrued interest.
 
From
April 1, 2021
through
May 10, 2021,
705,981
warrants were exercised for
705,981
shares of the Company's common stock for proceeds of approximately
$529,486
.
 
From
April 1, 2021
through
May 10, 2021,
a consultant has converted
$244,143
of deferred compensation and accrued interest into
488,287
Units.
 
On
April 27, 2021
the Company executed a letter of intent (‘LOI') with Lamb Farms, Inc., Oakfield, New York  regarding development and construction of a
3G
Tech Bion System to treat the waste from its approximately  
2,000
dairy cows and from up to
250
head of beef cattle  to be housed in barns constructed by the Company.  If the transaction proceeds to a definitive agreement and constructs the intended facilities (commencing during the upcoming fiscal year), this will likely be Bion's initial
3G
Tech System and will serve to demonstrate at commercial scale the capabilities of our
3G
Tech and technology platform and provide proof of concept with regard to the potential ‘beef opportunity' created by our technology and business model.
 
The Company filed an additional OMRI application on
May 3, 2021
for the initial crystallized ammonium co-products produced by our
3G
Tech.