4//SEC Filing
Schafer Edward T 4
Accession 0001140361-17-047228
CIK 0000875729other
Filed
Dec 21, 7:00 PM ET
Accepted
Dec 22, 5:19 PM ET
Size
16.1 KB
Accession
0001140361-17-047228
Insider Transaction Report
Form 4
Schafer Edward T
DirectorExecutive Vice Chairman
Transactions
- Other
Convertible Deferred Compensation
2017-11-07−144,507→ 0 totalExercise: $0.72→ Common Stock (144,507 underlying) - Other
January 2015 Convertible Note
2017-11-30+2,798→ 835,852 totalExercise: $0.50→ Common Stock (842,540 underlying) - Award
January 2015 Convertible Note Warrants
2017-11-07+210,635→ 421,270 totalExercise: $1.00→ Common Stock (421,270 underlying) - Other
January 2015 Convertible Note
2017-11-30+211,334→ 421,270 totalExercise: $1.50→ Warrants (421,270 underlying) - Award
Options (Right to Buy)
2017-11-07$0.05/sh+190,000$9,500→ 190,000 totalExercise: $0.75From: 2017-11-17Exp: 2020-12-31→ Common Stock (190,000 underlying)
Footnotes (4)
- [F1]Each of which options includes a potential future 90% exercise bonus "exercise bonus" (See Notes 9&10, Financial Statements, Form 10-Q for quarter ended 9/30/17
- [F2]This report reflects the cancellation (effective November 7, 2017) (per agreements reached between October 14 - Nov 6, 2017) of $121,386 of accrued convertible deferred compensation (including November 2017 accrual) which was convertible into 144,507 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) $120,269 of convertible deferred compensation was convertible into 133,164 shares at August 15, 2017. This category of security's amount has varied with the addition of accrued deferred compensation 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.
- [F3]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 1/4 to 1/2 per Unit which change increased potential warrants to be received in the event of conversion of Mr. Schafer's "January 2015 Convertible Note" by 210,635 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. Schafer (and his donees)/assignees) was increased to 75% from 50%. See Notes 7, 9 & 10 Financial Statements Form 10Q for quarter ended 9/30/17.
- [F4]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 $421,270 as of November 30, 2017. The note is convertible at $.50 per unit into units consisting of 1 share of common stock and 1/2 warrant ((842,540 Units consisting of 842,540 shares of common stock and 421,270 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.
Documents
Issuer
BION ENVIRONMENTAL TECHNOLOGIES INC
CIK 0000875729
Entity typeother
Related Parties
1- filerCIK 0001376093
Filing Metadata
- Form type
- 4
- Filed
- Dec 21, 7:00 PM ET
- Accepted
- Dec 22, 5:19 PM ET
- Size
- 16.1 KB