4//SEC Filing
Schafer Edward T 4
Accession 0001079973-23-000266
CIK 0000875729other
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 9:47 PM ET
Size
14.4 KB
Accession
0001079973-23-000266
Insider Transaction Report
Form 4
Schafer Edward T
DirectorExecutive Vice Chairman
Transactions
- Disposition to Issuer
2020 Convertible Obligation
2023-02-01Exercise: $0.50→ See footnote - Award
Adjust 2020 Convertible Obligation
2023-02-01Exercise: $0.10→ See footnote - Disposition to Issuer
2015 Convertible Note
2023-02-01Exercise: $0.60→ See footntoe - Award
Adjusted 2015 Convertble Note
2023-02-01Exercise: $0.12→ See footnote
Footnotes (4)
- [F1]On February 1, 2023, the principal of most of the 2020 Convertible Obligation of $509,865.07 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 $535,585.27 and would be convertible into 1,071,171 units of BNET restricted securities consisting of 1,071,171 shares and 535,586 warrants @ $.75 each exercisable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%.
- [F2]The principal note balance 'Adjusted 2020 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 $101,973.01 and is convertible into 1,070,021 units of BNET restricted securities consisting of 1,070,021 shares and 535,011 warrants @$.75 each exercisable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%.
- [F3]On February 1, 2023, the principal of most of the 2015 Convertible Note of $21,277.37 was adjusted down by 80 %. At the end of the maturity date of July 1, 2024, the balance of the unadjusted 2015 Convertible Note would be $22,155.68 and convertible @ $.60 into 36,927 BNET restricted shares of common stock.
- [F4]The note balance 'Adjusted 2015 Convertible Note' will not accrue interest until the maturity date of July 1, 2024, with conversion terms of $.115 replacing the prior conversion terms of $.60 per share that will yield equity slightly less than the unadjusted 2015 Convertible Note would have received if converted on the maturity date. The balance of the Adjusted 2015 Convertible Note is $4,245.47 and is convertible into 36,918 BNET restricted shares of common stock.
Documents
Issuer
BION ENVIRONMENTAL TECHNOLOGIES INC
CIK 0000875729
Entity typeother
Related Parties
1- filerCIK 0001376093
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 9:47 PM ET
- Size
- 14.4 KB