SEC Form 4 · accession 0001567619-18-002071
BION ENVIRONMENTAL TECHNOLOGIES INC · BNET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark A Smith
Officer — President · Director · 10% Owner
Period of report
Aug 1, 2018
Accepted (ET)
Sep 4, 2018 · 5:46 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000875729
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Aug 27, 2018 | G | 60,000 | $0.00 | D | 265,809 | D | |
| Common Stock | Sep 1, 2018 | A | 200,000 | $0.50 | A | 465,809 | D | |
| Common Stock | Sep 1, 2018 | G | 150,000 | $0.00 | D | 315,809 | D | |
| Common Stock | Sep 1, 2018 | A | 120,000 | $0.00 | A | 260,000 | I | Lotaylingkyur LLC |
| Common Stock | holding | — | — | — | 53,756 | I | Wife IRA | |
| Common Stock | holding | — | — | — | 62,535 | I | MAS IRA | |
| Common Stock | holding | — | — | — | 12,681 | I | Lotaylingkyur Foundation |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants Class MASESTAUGF3 | $0.75 | Aug 1, 2018 | P | 300,000 | A | Aug 1, 2018 | Jun 30, 2023 | Common Stock | 300,000 | 300,000 | D |
| Options (right to buy) | $0.75 | Aug 22, 2018 | A | 75,000 | A | Aug 22, 2018 | Dec 31, 2022 | Common Stock | 75,000 | 75,000 | D |
| Warrants Class CONUNITSEPTF3 | $0.75 | Sep 1, 2018 | A | 100,000 | A | Sep 1, 2018 | Dec 31, 2022 | Common Stock | 100,000 | 100,000 | D |
| Warrants Class MASSEXT | $1.50 | Sep 1, 2018 | G | 250,000 | D | Jul 5, 2012 | Dec 31, 2022 | Common Stock | 250,000 | 0 | D |
| Warrants Class MASCONF5 | $1.50 | Sep 1, 2018 | G | 250,000 | D | Jun 30, 2014 | Dec 31, 2022 | Common Stock | 250,000 | 0 | D |
Explanation of responses
- F1On September 1, 2018 , Mr. Smith converted his expenses payable of $12,937 and $87,063 of deferred compensation into 200,000 units (at recent PPM price) of $.50 per unit consisting of one share of Bion common stock and 1/2 warrant.
- F2On September 1, 2018, Mr. Smith gifted 150,000 shares which included 120,000 to Lotaylingkyur LLC which is owned by Mr. Smith and his wife.
- F3Each of these purchased warrants carry a potential exercise bonus of 75 Percent and were purchased with a $30,000 secured 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.
- F4These options were granted to the Reporting Person by the Board of Directors effective 8/22/2018 and carry an exercise bonus of 75 percent. After this transaction the Reporting Person owns 1,300,000 options, in aggregate, with varying terms.
- F5Each of these gifted warrants carry and exercise bonus of 75 percent.
- F6On 8/27/2018 Gifts of 60,000 common shares were made to various charities and relatives.