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Filing Details

Accession Number:: 0001140361-17-045250
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-12-07 10:00:21
Reporting Period:: 2017-10-24

Accepted Time:: 2017-12-07 10:00:21
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
875729	Bion Environmental Technologies Inc	BENT	Agricultural Chemicals (2870)	841176672

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1168243	A Mark Smith	Box 566 Crestone CO 81131	President	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2017-10-24	177,591	$0.00	0	No	4	G	Indirect	Joint with Wife
Common Stock	Disposition	2017-10-24	71,933	$0.00	208,629	No	4	G	Direct
Common Stock	Acquisiton	2017-11-20	10,100	$0.60	218,729	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	G	Indirect	Joint with Wife
No	4	G	Direct
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrants Class CAP2017-1	Acquisiton	2017-11-07	670,000	$0.05	670,000	$0.75
Common Stock	Warrants Class CAP2017-1	Disposition	2017-11-07	370,000	$0.05	300,000	$0.75
Common Stock	Convertible Deferred Compensation	Disposition	2017-11-07	538,876	$0.00	538,876	$0.72
Common Stock	January 2015 Convertible Note warrants	Acquisiton	2017-11-07	423,464	$0.00	846,928	$1.00
Common Stock	January 2015 Convertible Note	Acquisiton	2017-11-30	12,779	$0.00	1,693,856	$0.50
Warrants	January 2015 Convertible Note	Acquisiton	2017-11-30	426,776	$0.00	846,928	$0.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
670,000	2017-11-07	2020-12-31	No	4	A	Direct
300,000	2017-11-07	2020-12-31	No	4	G	Direct
0			No	4	J	Direct
0			No	4	A	Direct
1,693,856			No	4	J	Direct
846,928			No	4	J	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	12,681	Indirect	Lotaylingkyur Fdn
Common Stock	53,756	Indirect	By Wife (IRA)
Common Stock	62,535	Direct

Footnotes

Each of which warrants includes a potential future 90% 'exercise bonus' (See Notes 9 & 10, Financial Statements, Form 10-Q for quarter ended 9/30/17).
This report reflects the cancellation (effective November 7, 2017) (per agreements reached between October 14-Nov 6, 2017) of $416,656 of accrued convertible deferred compensation (including November 2017 accrual) which was convertible into 538,876 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 10-K (for year ended June 30, 2017) $358,934 of convertible deferred compensation was convertible into 464,763 shares at August 15, 2017). This category of security had been previously reported on Form 4 dated February 3, 2015. 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 accruals will commence during December 2017 with the same variables in place.
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 from ? to ? per Unit which change increased potential warrants to be received in the event of conversion of Mr. Smith's 'January 2015 Convertible Note' by 423,464 at November 7, 2017 including interest accruals through November 30, 2017 (with future increase due to subsequent interest accruals). The potential future 'exercise bonus' for these warrants (and all other options and warrants owned by Mr. Smith (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 $846,928 as of November 30, 2017. The note is convertible at $.50 per Unit into Units consisting of 1 share of common stock and ? warrant (1,693,856 Units consisting of 1,693,856 shares of common stock and 846,928 warrants, in aggregate). See Note 3 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.
IRA account