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