Form 4 - Statement of changes in beneficial ownership of securities

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SMITH MARK A

(Last)

(First)

(Middle)

401 N. RIVERSIDE DRIVE #408

(Street)

POMPANO BEACH

33062

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/28/2023

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/28/2023		G⁽¹⁾		20,000	D	$0.00	1,009,091	D
Common Stock	07/21/2023		A⁽²⁾		518,477	A	$0.00	1,527,568	D
Common Stock	07/21/2023		G⁽³⁾		200,000	D	$0.00	1,327,568	D
Common Stock								53,756	I	Wife IRA
Common Stock								62,535	I	MAS IRA
Common Stock								12,681	I	Lotaylingkyur Foundation

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Adjusted 2020 Convertible Obligation	$0.5	07/21/2023		D⁽²⁾			$49,047.91	⁽²⁾	⁽²⁾	Common Stock	$49,047.91	$0.00	971,492⁽²⁾	D
Class JULYCONV-4 Warrants	$0.75	07/21/2023		A⁽²⁾		518,477		⁽²⁾	⁽²⁾	Common Stock	518,477	$0.00	518,477	D
Class JULYCONV-4 Warrants	$0.75	07/21/2023		G⁽³⁾			100,000	⁽⁴⁾	⁽⁴⁾	Common Stock	100,000	$0.00	418,477	D
Various Other Classes Warrants	⁽⁴⁾							⁽⁵⁾	⁽⁵⁾	Common Stock	1,759,458		1,759,458	D
Options (right to buy)	⁽⁵⁾							⁽⁶⁾	⁽⁶⁾	Common Stock	2,425,000		2,425,000	D

Explanation of Responses:

1. On June 28, 2023, Mr. Smith and his wife gifted 20,000 shares to various nonprofit entities.

2. On July 21, 2023, Mr. Smith converted $49,047.91 of principal from his Adjusted 2020 Convertible note into 518,477 Units; each unit consisting of one share and one warrant with the exercise price of $.75 until 7/21/2026. Each of these warrants carry an exercise bonus of 75%. The balance of the Adjusted 2020 Convertible note after the July 21, 2023, conversion is $91,903.05. The Adjusted 2020 Convertible note is convertible at $.0946/Unit.

3. On July 21, 2023, Mr. Smith gifted/donated 200,000 shares to various nonprofit entities. Of the 318,477 shares not gifted, 100,000 shares are registered to Mr. Smith's wife.

4. On July 21, 2023, Mr. Smith gifted/donated 100,000 warrants to various nonprofit entities. 100,000 of the warrants not gifted are registered to Mr. Smith's wife.

5. As of July 21, 2023 Mr. Smith and his wife are the direct owners of 1,759,458 underlying other warrants in addition to those acquired in the July 21, 2023 conversion (see Note 1). These warrants are comprised of various classes and various prices with expiration dates ranging from 2024 to 2026 and exercise bonus terms ranging from 75% to 90%.

6. As of July 21 2023, Mr. Smith is the direct owner of 2,425,000 underlying options. These options are comprised of various classes and various prices with expiration dates ranging from 2024 to 2026 and exercise bonus terms ranging from 75% to 90%.

	/s/ Mark A. Smith	07/28/2023
	** 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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