SEC Form 4
FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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3. Date of Earliest Transaction (Month/Day/Year) 03/02/2021 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
DB 2020 Convertible Obligation ("Note") | $0.5 | 03/25/2021 | A(1) | 111,196 | (4) | (5) | See footnote(8) | (8) | $0.00 | 0(8) | D | ||||
Dominic Bassani 2019 Irr Trust Convert Oblig ("Trust Note") | $0.5 | 03/25/2021 | A(2) | 717,196 | (6) | (7) | See footnote(9) | (9) | $0.00 | 0(9) | I | Dominic Bassani 2019 Irrevocable Trust ("Trust") | |||
Options (right to buy) | $1.2 | 03/02/2021 | A(3) | 250,000 | 03/02/2021 | 12/31/2026 | Common Stock | 250,000 | $0.00 | 250,000 | D |
Explanation of Responses: |
1. On March 25, 2021 the terms of the conversion of this 2020 Convertible Obligation changed to increase the issuance of warrants by one-third if and when the Reporting person chooses to convert. The balance of the Convertible Obligation with estimated interest at 3/31/21 is $332,922. |
2. On March 25, 2021 the terms of the conversion of this 2020 Convertible Obligation (Trust Note) changed to increase the issuance of warrants by one third if and when the Reporting person chooses to convert.. The balance of the Trust Note with estimated interest at 3/31/21 is $2,147,290. The beneficiary of 50% of the Trust is the Reporting Person's adult daughter who resides within his residence. |
3. Each of these options carry an exercise bonus of 75% |
4. Convertible Obligation Note began on 1/1/2020 |
5. Convertible Obligation Note expires on 7/1/2024 |
6. The Dominic Bassani 2019 Irrevocable Trust Convertible Obligations (Trust Note) began on 1/29/20 |
7. The Dominic Bassani 2019 Irrevocable Trust Convertible Obligations (Trust Note) expires on 7/1/2024 |
8. 665,844 shares & 444,118 warrants |
9. 4,294,581 shares & 2,864,486 warrants |
/s/ Dominic Bassani | 04/05/2021 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |