Bion Environmental (BNET) Form 4 BION ENVIRONMENTAL / Dominic Bassani ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bassani Dominic

(Last) (First) (Middle)

C/O BRIGHT CAPITAL, LTD.

64 VILLAGE HILLS DRIVE

(Street)

DIX HILLS NY 11746

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants Class DBEXT(1)	$0.6	08/22/2018		P		3,000,000		08/22/2018	06/30/2025	Common Stock	3,000,000	$0.1	3,000,000	D
Warrants Class DBADV-1(2)	$0.85	08/27/2018		S			15,000	03/31/2014	12/31/2022	Common Stock	15,000	$0.1	0	D
Warrants Class DBADV-2(3)	$0.85	08/27/2018		S			15,000	06/30/2014	12/31/2022	Common Stock	15,000	$0.1	0	D
DB Replacement Note 2(4)	$0.6	08/27/2018		S			$300,000	(4)	(4)	Common Stock	$300,000	(4)	$21,401.92(4)	D

Explanation of Responses:

1. These warrants were acquired in connection with an agreement re extension of reported person's service as CEO of the Company which agreement was verbally agreed to on July 29, 2018 and ratified by the Company's Board of Directors on August 22, 2018. The warrants were purchased with a $300,000 secured promissory note and the Company is holding certain securities that the reporting person owns as collateral until the promissory note is satisfied.

2. Each of these warrants includes a potential 75% exercise bonus. These warrants were sold to unaffiliated parties for $.10/warrant and are exercisable until 12/31/2022.

3. Each of these warrants includes a potential 75% exercise bonus. These warrants were sold to unaffiliated parties for $.10/warrant and are exercisable until 12/31/2022.

4. $300,000 of the DB Replacement Note 2 (as defined in note 7 of financial statements of 10Q for 3/31/2018) was sold and is convertible @$.60/share. The balance of this note prior to the sale was $321,401.92.

	/s/ Dominic Bassani	08/31/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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