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SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

10.       SUBSEQUENT EVENTS:

 

The Company has evaluated events that occurred subsequent to December 31, 2021 for recognition and disclosure in the financial statements and notes to the financial statements.

 

On January 26, 2022 OMRI’s Appeals Review Committee affirmed the prior “unresolved’ determination by OMRI’s Review Panel. The OMRI process has now moved to OMRI’s Advisory Council. See Note 1 subsection “Organic Fertilizer Listing/Certification Process” above for related disclosure.

 

On January 28, 2022 Bion Environmental Technologies, Inc. (‘Bion’), on behalf of Bion 3G1 LLC (‘3G1’), a wholly-owned subsidiary, entered into a Purchase Order Agreement with Buflovak and Hebeler Process Solutions (collectively ‘Buflovak’) in the amount of $2,665,500 (and made the initial 25% payment ($665,375)) for the core of the ‘Bion System’ portion (without the crystallization modules which will be ordered and fabricated pursuant to subsequent agreements) of the previously announced 3G Tech Initial Project. This Purchase Order encompasses the core of Bion’s 3G Technology. Buflovak has worked with the Company on design and testing of its 3G Tech over several years. The basic design for the Initial Project’s Bion System is complete and procurement/fabrication has now been initiated. 3G1 is working in concert with Integrated Engineering Services, the primary site engineering firm for the facility, on the integration of all project components/modules at the Initial Project site. Additional agreements have been entered into various professional services providers (engineers, surveyors, etc.) for work related to the Initial Project.

 

The Initial Project is designed to be installed primarily in two targeted primary phases which approach has been adopted to enable more rapid deployment of our 3G technology given pandemic-induced supply chain constraints. The first phase includes procurement and deployment of Bion’s core 3G technology. The modules in this phase include evaporation, distillation, absorption and crystallization modules, along with supporting mechanical/electrical equipment, controls, instrumentation, and facilities, many of which include components with ‘long lead times’ for manufacture and delivery. These items have now been ordered and procurement/manufacturing, as applicable, is underway.  This phase also includes installing a process building to house the system components, full utility installation (electrical, water, internet, natural gas, etc.), tankage to hold process and waste product liquids, facility access, and other items. The second phase, which will require additional permitting, planning and logistics, will consist primarily of design and construction of a 300 head beef cattle feed barn and an anaerobic digester, which items have shorter construction and fabrication/installation lead times than many of the components of the first phase.  The barn will include an innovative slatted floor livestock and an automated manure collection system.  Support structures will include manure collection basins, pumping stations, and automated controls integrated with the 3G system control system. The design and installation for both phases will include adaptive spaces that allow the integration of Initial Project expansions and the refinement of equipment operations that enhance system productivity and reduce energy demand.