0001140361-18-000689.txt : 20180104 0001140361-18-000689.hdr.sgml : 20180104 20180104120105 ACCESSION NUMBER: 0001140361-18-000689 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170515 FILED AS OF DATE: 20180104 DATE AS OF CHANGE: 20180104 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Bassani Dominic CENTRAL INDEX KEY: 0000929535 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-19333 FILM NUMBER: 18509078 MAIL ADDRESS: STREET 1: C/O BRIGHT CAPITAL, LTD. STREET 2: 64 VILLAGE HILLS DRIVE CITY: DIX HILLS STATE: NY ZIP: 11746 FORMER NAME: FORMER CONFORMED NAME: BASSANI DOMINIC DATE OF NAME CHANGE: 19940902 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: C/O BOX 566 STREET 2: 1774 SUMMITVIEW WAY CITY: CRESTONE STATE: CO ZIP: 81131 BUSINESS PHONE: (212) 758-6622 MAIL ADDRESS: STREET 1: C/O BOX 566 STREET 2: 1774 SUMMITVIEW WAY CITY: CRESTONE STATE: CO ZIP: 81131 FORMER COMPANY: FORMER CONFORMED NAME: RSTS CORP DATE OF NAME CHANGE: 19930328 4 1 doc1.xml FORM 4 X0306 4 2017-05-15 0 0000875729 BION ENVIRONMENTAL TECHNOLOGIES INC BNET 0000929535 Bassani Dominic C/O BRIGHT CAPITAL, LTD. 64 VILLAGE HILLS DRIVE DIX HILLS NY 11746 0 1 1 0 CEO Common Stock 56577 D Common Stock 108000 I By Daughter Common Stock 354342 I By Wife Common Stock 400000 I By Daughter (trust) Common Stock 10050 I By Roth IRA Common Stock 2017-05-15 4 J 0 260000 0.00 A 260000 I By Roth IRA Common Stock 2017-05-15 4 J 0 260000 0.00 D 249397 I By IRA Common Stock 2017-05-15 4 J 0 235000 0.00 D 41104 I By Wife's IRA Common Stock 2017-05-15 4 J 0 235000 0.00 A 279382 I By Wife's Roth IRA Warrants Class CAP2017-5 0.75 2017-11-07 4 P 0 1765000 0.05 A 2017-11-07 2020-12-31 Common Stock 1765000 1765000 D Warrants Class CAP2017-5 0.75 2017-12-31 4 G 0 150000 0.05 D 2017-11-07 2020-12-31 Common Stock 1615000 1615000 D Convertible Deferred Compensation 0.72 2017-11-07 4 J 0 1408583 D Common Stock 1408583 0 D Convertible Deferred Compensation 0.66 2017-12-31 4 A 0 46967 A Common Stock 46967 0 D January 2015 Convertible Note Warrants 1.00 2017-11-07 4 A 0 815472 A Common Stock 1630943 0 D January 2015 Convertible Note 0.50 2017-11-30 4 J 0 1630943 A Warrants 3261886 0 D The Shares held in the Reporting Person's IRA Account were distributed to the Reporting Person's ROTH IRA Account. The Shares held in Reporting Person's Wife's IRA Account were distributed to the Reporting Person's Wife's ROTH IRA Account. Each of these purchased warrants includes a potential future 90% "exercise Bonus" (See Notes 9 & 10, Financial Statements, Form 10Q for quarter ended 9/30/2017. These warrants were purchased with a $88,250 Promissory Note which matures on July 1, 2020 and the Company is holding certain securities that the Reporting Person owns as collateral until the promissory note is satisfied. This report reflects the cancellation (effective November 7, 2017) (per agreements reached between October 14 - Nov 6) of $1,147,210 of accrued convertible deferred compensation (including November 2017 accrual) which was convertible into 1,408,583 shares of common stock at November 7, 2017 (See Notes 5 & 10, Financial Statements Form 10-Q for quarter ended 9/30/17) (Note that per item 12, Form 10K (for year ended June 30, 2017) $1,043,646 of convertible deferred compensation was convertible into 1,217,194 shares at August 15, 2017). This category of security had been previously reported on Form 4 dated January 5, 2016. Since that date its amount has varied with the addition of accrued deferred compensation, has been reduced when conversions have taken place and has fluctuated in number as the market-based conversion price has varied by formula. New monthly accrual of $31,000 compensation commenced during December 2017 convertible at $.66/share (based on market price formula-the amount will vary as the market price of Bion's common stock varies and will increase for future net accruals (including interest), if any). The number of warrants included in Units to be received in conversion of existing "January 2015 Convertible Note" (as defined in Form 10-Q, Financial Statements, Note 7 and other SEC filings) has increased from 1/4 to 1/2 per Unit which change increased potential warrants to be received in the event of conversion of Reporting Person's " January 2015 Convertible Note" by 815,472 at November 7, 2017 including interest accruals through November 30, 2017 (with future increases due to subsequent interest accruals). The potential future "exercise bonus" for these warrants (and all other options and warrants owned by the Reporting Person (and his donees/assignees) was increased to 75% from 50%. (See Notes 7, 9 & 10, Financial Statements, Form 10-Q for quarter ended 9/30/17). Outstanding "January 2015 Convertible Note" (as defined in Form 10-Q, financial Statements, Note 7 and other SEC filings) has a balance (principal plus accrued interest) of approximately $1,630,943 as of November 30, 2017. The note is convertible at $.50 per Unit into Units consisting of 1 share of common stock and 1/2 warrant ( 3,261,886 Units consisting of 3, 261,886 shares of common stock and 1,630,943 warrants, in aggregate). See Note 6 above. (See Notes 7, 9 & 10, Financial Statements, Form 10-Q for quarter ended 9/30/17. The number of Units will increase as interest accrues. /s/ Dominic Bassani 2018-01-03