Edward Schafer - Feb 1, 2023 Form 4 Insider Report for BION ENVIRONMENTAL TECHNOLOGIES INC (BNET)

Role: Executive Vice Chairman, Director
Signature: /s/ Edward Schafer
Stock symbol: BNET
Transactions as of: Feb 1, 2023
Transactions value $: -$424,874
Form type: 4
Date filed: 2/27/2023, 08:47 PM
Previous filing: May 5, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BNET	2020 Convertible Obligation	Disposed to Issuer	-$510K				$0	Feb 1, 2023	See footnote	$0	$0.50	Direct	F1
transaction	BNET	Adjust 2020 Convertible Obligation	Award	$102K				$102K	Feb 1, 2023	See footnote	$102K	$0.10	Direct	F2
transaction	BNET	2015 Convertible Note	Disposed to Issuer	-$21.2K				$0	Feb 1, 2023	See footntoe	$0	$0.60	Direct	F3
transaction	BNET	Adjusted 2015 Convertble Note	Award	$4.25K				$4.25K	Feb 1, 2023	See footnote	$4.25K	$0.12	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.