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) 02/19/2021 | ||||||||||||||||||||||||||
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 | ||||||
Common Stock | 03/15/2021 | A(1) | 36,000 | A | $0.5 | 189,429 | D | |||
Common Stock | 04/01/2021 | A(2) | 42,786 | A | $0.5 | 232,215 | D | |||
Common Stock | 151,001 | I | Lotaylingkyur LLC | |||||||
Common Stock | 53,756 | I | Wife IRA | |||||||
Common Stock | 62,535 | I | MAS IRA | |||||||
Common Stock | 12,681 | I | Lotaylingkyur Foundation |
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 | ||||||||
Warrants Class CONFEB2021-1 | $0.75 | 02/19/2021 | G(3) | 50,000 | 03/19/2021 | 12/31/2024 | Common Stock | 50,000 | $0.00 | 44,715 | D | ||||
Warrants Class CONMAR2021-1 | $0.5 | 03/15/2021 | A(1) | 36,000 | 03/15/2021 | 12/31/2024 | Common Stock | 36,000 | $0.00 | 36,000 | D | ||||
Warrants Class CONMAR2021-1 | $0.5 | 03/15/2021 | G(3) | 36,000 | 03/15/2021 | 12/31/2024 | Common Stock | 36,000 | $0.00 | 0 | D | ||||
Warrants Class CONAPR2021-1 | $0.5 | 04/01/2021 | A(2) | 42,786 | 04/01/2021 | 12/31/2024 | Common Stock | 42,786 | $0.00 | 42,786 | D | ||||
Warrants Class CONAPR2021-1 | $0.5 | 04/01/2021 | G(3) | 42,786 | 04/01/2021 | 12/31/2024 | Common Stock | 42,786 | $0.00 | 0 | D | ||||
Option (right to buy) | $1.2 | 03/02/2021 | A(4) | 250,000 | 03/02/2021 | 12/31/2026 | Common Stock | 250,000 | $0.00 | 250,000 | D | ||||
MAS 2020 Convertible Obligation | $0.5 | 03/25/2021 | A(5) | 587,751 | 03/25/2021 | (6) | See footnote(7) | 0(7) | $0.00 | 0(7) | D |
Explanation of Responses: |
1. On March 15, Mr. Smith converted $18,000 salary into 36,000 units (at recent PPM price) of $0.50 per unit consisting of one share of Bion common stock and one warrant. Each of these warrants carry an exercise bonus of 75 %. |
2. On April 1, Mr. converted $18,000 salary and $3392.65 unreimbursed expenses into 42,786 units (at recent PPM price) of $0.50 unit consisting of one share of Bion common stock and one warrant. Each of these warrants carry an exercise bonus of 75%. |
3. Each of these gifted warrants carry an exercise bonus of 75 %. |
4. Each of these options carry an exercise bonus of 75% |
5. On March 25, 2021 the terms 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 $1,175,502. |
6. Convertible Obligation Note expires on 7/1/2024 |
7. 2,351,004 shares & 2,351,004 warrants |
/s/ Mark A. Smith | 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. |