4//SEC Filing
Bassani Dominic 4
Accession 0001079973-23-000262
CIK 0000875729other
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 9:44 PM ET
Size
19.0 KB
Accession
0001079973-23-000262
Insider Transaction Report
Form 4
Bassani Dominic
10% Owner
Transactions
- Disposition to Issuer
2020 Trust Convertible Obligation
2023-02-01(indirect: By Trust)Exercise: $0.50→ See footnote - Award
Adjusted 2015 Replacement #3 Convertible Note
2023-02-01Exercise: $0.12→ See footnote - Award
Adjusted 2020 Trust Convertible Obligation
2023-02-01(indirect: By Trust)Exercise: $0.10→ See footnote - Disposition to Issuer
2015 Replacement #2 Convertible Note
2023-02-01Exercise: $0.60→ See footnote
Holdings
2020 Collateral Convertible Obligation
Exercise: $0.50→ See footnote2015 replacement #1 Convertible Note
Exercise: $0.60→ See footnote
Footnotes (6)
- [F1]On February 1, 2023, the principal of most of the 2020 Convertible Obligation of $2,296,385.10 was adjusted down by 80%. At the end of the maturity date of July 1, 2024, the balance of the 2020 Convertible Obligation would be $2,412,226.54 and would be convertible into 4,824,453 units of BNET restricted securities consisting of 4,824,453 shares and 3,217,911 warrants @ $.75 each exercisable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. The reporting person's daughter is beneficiary of 50% of the Trust. Mr. Bassani indirectly owns 50% as the beneficiary resides within his residence.
- [F2]The principal balance 'Adjusted 2020 Trust Convertible Obligation' will not accrue interest until the maturity date of July 1, 2024, with conversion terms of $.0953 replacing the prior conversion terms of $.50. This change will yield equity slightly less than the unadjusted 2020 Convertible Obligation would have received if converted on the maturity date. The balance of the Adjusted 2020 Convertible Obligation is $459,277.02 and is convertible into 4,819,277 units of BNET restricted securities consisting of 4,819,277 shares and 3,214,458 warrants @$.75 each exercisable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. The reporting person's daughter is beneficiary of 50% of the Trust. Mr. Bassani indirectly owns $229,638.51 of the Adjusted 2020 Trust Convertible Obligation as the beneficiary resides within his residence.
- [F3]Prior to the adjustment of February 1, 2023, there were two 2020 Convertible Obligations; one of which is held by Bion as collateral. This portion of the 2020 Convertible Obligation has remained unchanged and will continue to accrue interest until the maturity date of July 1, 2024, with conversion terms of $.50 per unit and is convertible into 709,964 units of BNET restricted securities consisting of 709,964 shares and 473,546 warrants exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%. This 2020 Convertible Obligation is held directly by Mr. Bassani.
- [F4]On February 1, 2023, the principal of most of the 2015 Replacement #2 Convertible Note of $128,202.87 was adjusted down by 80%. At the end of the maturity date of July 1, 2024, the balance of the unadjusted #2 Replacement Note would be $134,563.87 and convertible @$.60 into 224,274 BNET restricted shares of common stock.
- [F5]The note Balance (Adjusted 2015 Replacement #2 Convertible Note) will not accrue interest until the maturity date of July 1, 2024, with conversion terms of $.115 per share replacing the prior conversion terms of $.60 per share that will yield equity slightly less than the unadjusted 2015 Replacement #2 Convertible Note would have received if converted on the maturity date. The balance of the Adjusted 2015 Replacement #2 Convertible Note is $25,640.58 and is convertible into 222,962 BNET restricted shares of common stock.
- [F6]Prior to the adjustment of February 1, 2023, there were two Replacement Convertible Notes; Replacement Note # 1 and Replacement Note #2. Replacement Note #1 is held by Bion as collateral. Replacement Note # 1 remained unchanged and will continue to accrue interest until the maturity date of July 1, 2024, with conversion terms of $.60 and is convertible into 260,638 BNET restricted shares of common stock.
Documents
Issuer
BION ENVIRONMENTAL TECHNOLOGIES INC
CIK 0000875729
Entity typeother
Related Parties
1- filerCIK 0000929535
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 9:44 PM ET
- Size
- 19.0 KB