SEC Form 4 · accession 0001567619-18-001995
BION ENVIRONMENTAL TECHNOLOGIES INC · BNET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dominic Bassani
Officer — CEO · 10% Owner
Period of report
Aug 22, 2018
Accepted (ET)
Aug 31, 2018 · 5:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000875729
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants Class DBEXTF1 | $0.60 | Aug 22, 2018 | P | 3,000,000 | A | Aug 22, 2018 | Jun 30, 2025 | Common Stock | 3,000,000 | 3,000,000 | D |
| Warrants Class DBADV-1F2 | $0.85 | Aug 27, 2018 | S | 15,000 | D | Mar 31, 2014 | Dec 31, 2022 | Common Stock | 15,000 | 0 | D |
| Warrants Class DBADV-2F3 | $0.85 | Aug 27, 2018 | S | 15,000 | D | Jun 30, 2014 | Dec 31, 2022 | Common Stock | 15,000 | 0 | D |
| DB Replacement Note 2F4 | $0.60 | Aug 27, 2018 | S | — | D | — | — | Common Stock | — | — | D |
Explanation of responses
- F1These warrants were acquired in connection with an agreement re extension of reported person's service as CEO of the Company which agreement was verbally agreed to on July 29, 2018 and ratified by the Company's Board of Directors on August 22, 2018. The warrants were purchased with a $300,000 secured promissory note and the Company is holding certain securities that the reporting person owns as collateral until the promissory note is satisfied.
- F2Each of these warrants includes a potential 75% exercise bonus. These warrants were sold to unaffiliated parties for $.10/warrant and are exercisable until 12/31/2022.
- F3Each of these warrants includes a potential 75% exercise bonus. These warrants were sold to unaffiliated parties for $.10/warrant and are exercisable until 12/31/2022.
- F4$300,000 of the DB Replacement Note 2 (as defined in note 7 of financial statements of 10Q for 3/31/2018) was sold and is convertible @$.60/share. The balance of this note prior to the sale was $321,401.92.