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