# EDGAR Filing Document

**Accession Number:** 0000875729
**File Stem:** 0001079973-23-000260
**Filing Date:** 2023-2
**Character Count:** 8786
**Document Hash:** 1751892a7f3abb2d3c328bae64dcac70
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001079973-23-000260.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001079973-23-000260

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230201

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SMITH MARK A
- **CENTRAL INDEX KEY:** 0001168243

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19333
- **FILM NUMBER:** 23678081

**MAIL ADDRESS:**
- **STREET 1:** 641 LEXINGTON AVENUE
- **STREET 2:** 17TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BION ENVIRONMENTAL TECHNOLOGIES INC
- **CENTRAL INDEX KEY:** 0000875729
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE CHEMICALS [2870]
- **IRS NUMBER:** 841176672
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 0630

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 323
- **CITY:** OLD BETHPAGE
- **STATE:** NY
- **ZIP:** 11804
- **BUSINESS PHONE:** (212) 758-6622

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 323
- **CITY:** OLD BETHPAGE
- **STATE:** NY
- **ZIP:** 11804

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RSTS CORP
- **DATE OF NAME CHANGE:** 19930328

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>SMITH MARK A<br><sub>(Last) (First) (Middle)</sub><br>401 N. RIVERSIDE BEACH #408<br><sub>(Street)</sub><br>POMPANO BEACH, FL 33062<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>BION ENVIRONMENTAL TECHNOLOGIES INC [ BNET ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-07 |  | G<sup>(1)</sup> |  | 17500<sup>(1)</sup> | D | $0.00 | 306577 | D |  |
| Common Stock | 2023-02-07 |  | G<sup>(2)</sup> |  | 68001<sup>(1)</sup> | D | $0.00 | 0.00 | I | Lotaylingkyur LLC |
| Common Stock |  |  |  |  |  |  |  | 53756 | I | Wife IRA |
| Common Stock |  |  |  |  |  |  |  | 62535 | I | MAS IRA |
| Common Stock |  |  |  |  |  |  |  | 12681 | I | Lotaylingkyur Foundation |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 2020 Convertible Obligation | $0.50 | 2023-02-01 |  | A<sup>(3)</sup> |  |  |  | <sup>(3)</sup> | <sup>(3)</sup> | See footnote<sup>(3)</sup> |  | $0.00 |  | D |  |
| 2020 Convertible Obligation | $0.50 | 2023-02-01 |  | D<sup>(4)</sup> |  |  |  | <sup>(4)</sup> | <sup>(4)</sup> | See footnote<sup>(4)</sup> |  | $0.00 |  | D |  |
| Adjusted 2020 Convertible Obligation | $0.0946 | 2023-02-01 |  | A<sup>(5)</sup> |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | See footnote<sup>(5)</sup> |  | $0.00 |  | D |  |
| 2020 Collateral Convertible Obligation | $0.50 |  |  |  |  |  |  | <sup>(6)</sup> | <sup>(6)</sup> | See footnote<sup>(6)</sup> |  |  |  | D |  |

---

### Footnotes:

(1) On February 7, 2023, Mr. Smith and his wife gifted 17,500 shares to various nonprofit entities and family members.

(2) On February 7, 2023, Lotaylingkyur LLC gifted 68,001 shares to various nonprofit entities and family members. Lotaylingkyur LLC is controlled by Mr. Smith and his wife.

(3) On February 1, 2023, Mr. Smith transferred $5,000 of deferred compensation and $25,000 of salary to his 2020 Convertible Obligation. The balance of the 2020 Convertible Obligation of $1,387,060.74 is convertible into 2,744,122 units; each unit consisting of one share and one warrant with the exercise price of $0.75.

(4) On February 1, 2023, the principal of most of the 2020 Convertible Obligation of $1,387,060.74 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 $1,468,036 and would be convertible into 2,936,072 units of BNET restricted securities consisting of 2,936,072 shares and 2,936,072 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%.

(5) The principal note balance 'Adjusted 2020 Convertible Obligation' will not accrue interest until the maturity date of July 1, 2024, with conversion terms of $.0946 replacing the prior conversion terms of $0.50. 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 $277,412.16 and is convertible into 2,932,476 units of BNET restricted securities consisting of 2,932,476 shares and 2,932,476 warrants @ $.75 each exerciseable through three years after the conversion date. Each of these warrants carry an exercise bonus of 75%.

(6) Prior to the adjustment of February 1, 2023, there were two 2020 Convertible Obligations; one of which is held by Bion as collateral. This portion of the 2020 Convertible Obligation has remained unchanged and will continue to accrue interest until the maturity date of July 1, 2024, with conversion terms of $0.50 per unit and is convertible into 71,429 restricted shares and 71,429 warrants exerciseable until three years after the conversion date. Each of these warrants carry an exercise bonus of 75%.

**Signature:** /s/ Mark A. Smith  
**Date:** 2023-02-27

### Remarks:

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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**