0001079973-23-000258.txt : 20230227 0001079973-23-000258.hdr.sgml : 20230227 20230227214155 ACCESSION NUMBER: 0001079973-23-000258 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230201 FILED AS OF DATE: 20230227 DATE AS OF CHANGE: 20230227 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Parlow Christopher B. CENTRAL INDEX KEY: 0001773330 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-19333 FILM NUMBER: 23678076 MAIL ADDRESS: STREET 1: 23 LONGBOW DRIVE CITY: COMMACK STATE: NY ZIP: 11725 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: BION ENVIRONMENTAL TECHNOLOGIES INC CENTRAL INDEX KEY: 0000875729 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE CHEMICALS [2870] IRS NUMBER: 841176672 STATE OF INCORPORATION: CO FISCAL YEAR END: 0630 BUSINESS ADDRESS: STREET 1: PO BOX 323 CITY: OLD BETHPAGE STATE: NY ZIP: 11804 BUSINESS PHONE: (212) 758-6622 MAIL ADDRESS: STREET 1: PO BOX 323 CITY: OLD BETHPAGE STATE: NY ZIP: 11804 FORMER COMPANY: FORMER CONFORMED NAME: RSTS CORP DATE OF NAME CHANGE: 19930328 4 1 ownership.xml X0306 4 2023-02-01 0 0000875729 BION ENVIRONMENTAL TECHNOLOGIES INC BNET 0001773330 Parlow Christopher B. 23 LONGBOW DRIVE COMMACK NY 11725 0 0 1 0 2020 Trust Convertible Obligation 0.50 2023-02-01 4 D 0 1148192.55 0.00 D See footnote 0.00 0.00 I By D. Bassani 2019 Irrevocable Trust Convertible Note Adjusted 2020 Trust Convertible Obligation 0.0953 2023-02-01 4 A 0 229638.51 0.00 A See footnote 229638.51 229638.51 I By D. Bassani 2019 Irrevocable Trust Convertible Note On February 1, 2023, the principal of most of the 2020 Convertible Obligation of $2,296,385,10 was adjusted down by 80%. At the end of the maturity date of July 1, 2024 the balance of the 2020 Convertible Obligation would be $2,412,226.54 and would be convertible into 4, 824, 453 units of BNET restricted securities consisting of 4,824,453 shares and 3,217,911 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. The reporting person is beneficiary of 50% of the Trust. The principal note balance 'Adjusted 2020 Trust Convertible Obligation' will not accrue interest until the maturity date of July 1, 2024 with conversion terms of $.0953 replacing the prior conversion terms of $.50. This change will yield equity slightly less than the unadjusted 2020 Convertible Obligation would have received if converted on the maturity date. The balance of the Adjusted 2020 Convertible Obligation is $459,277.02 and is convertible into 4,819,277 units of BNET restricted securities consisting of 4,819,277 shares and 3,214,458 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. As 50% beneficiary of the Trust, the reporting person indirectly owns $229,638.51 of the Adjusted 2020 Trust Convertible Obligation. /s/ Christopher B. Parlow 2023-02-27