Bion Environmental Technologies Files 8-K
Ticker: BNET · Form: 8-K · Filed: Aug 29, 2024 · CIK: 875729
| Field | Detail |
|---|---|
| Company | Bion Environmental Technologies Inc (BNET) |
| Form Type | 8-K |
| Filed Date | Aug 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-event
Related Tickers: BIOT
TL;DR
BIOT filed an 8-K on Aug 29, reporting a material agreement from Aug 23. Watch for details.
AI Summary
Bion Environmental Technologies, Inc. (BIOT) announced on August 29, 2024, that it entered into a Material Definitive Agreement on August 23, 2024. The filing also includes Regulation FD Disclosure and Other Events, along with Financial Statements and Exhibits. The company is incorporated in Colorado and its principal executive offices are located in Old Bethpage, New York.
Why It Matters
This 8-K filing indicates significant corporate activity and potential material events for Bion Environmental Technologies, Inc., requiring investor attention.
Risk Assessment
Risk Level: medium — 8-K filings can signal significant corporate events, but the specific nature of the material agreement is not detailed in this summary, requiring further investigation.
Key Players & Entities
- BION ENVIRONMENTAL TECHNOLOGIES, INC. (company) — Registrant
- BIOT (company) — Ticker Symbol
- August 29, 2024 (date) — Filing Date
- August 23, 2024 (date) — Earliest Event Date
- Colorado (jurisdiction) — State of Incorporation
- Old Bethpage, New York (location) — Principal Executive Offices
FAQ
What is the nature of the Material Definitive Agreement entered into by Bion Environmental Technologies, Inc. on August 23, 2024?
The provided text does not specify the details of the Material Definitive Agreement, only that one was entered into on August 23, 2024.
What are the key items reported in this 8-K filing?
The filing reports an entry into a Material Definitive Agreement, Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits.
When was this 8-K report filed with the SEC?
The report was filed on August 29, 2024.
Where are Bion Environmental Technologies, Inc.'s principal executive offices located?
The principal executive offices are located at 9 East Park Court, Old Bethpage, New York 11804.
What is Bion Environmental Technologies, Inc.'s state of incorporation?
The company is incorporated in Colorado.
Filing Stats: 735 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-08-29 10:00:09
Key Financial Figures
- $500,000 — through a newly formed LLC (LLC) up to $500,000 in consideration of a secured convertib
Filing Documents
- bion_8k.htm (8-K) — 30KB
- ex10x1.htm (EX-10.1) — 13KB
- ex99x1.htm (EX-99.1) — 5KB
- ex99x2.htm (EX-99.2) — 8KB
- image_001.jpg (GRAPHIC) — 3KB
- image_002.jpg (GRAPHIC) — 6KB
- image_003.jpg (GRAPHIC) — 6KB
- 0001079973-24-001333.txt ( ) — 253KB
- bion-20240823.xsd (EX-101.SCH) — 3KB
- bion-20240823_lab.xml (EX-101.LAB) — 33KB
- bion-20240823_pre.xml (EX-101.PRE) — 24KB
- bion_8k_htm.xml (XML) — 3KB
01 Entry Into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement. Three affiliates of the Company (Greg Schoener, Interim COO & Director; Turk Stovall, Director; Bob Weerts, Director) and two shareholders (one of whom is the brother of Greg Schoener) have agreed to advance to the Company, through a newly formed LLC (LLC) up to $500,000 in consideration of a secured convertible promissory note. The note instrument and agreements have not been executed at this time because terms and other details have not been finalized yet; however, the group has begun advancing money to the Company. When a final agreement is executed, it will be attached as an exhibit to a Form 8-K.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On August 23 2024, the Company issued a press release entitled "Bion Reports on Finance and Leadership" which press release has been placed on the Investors page of our website. On August 27, 2024, the Company issued a press release entitled "Bion's Commercial Nitrogen Fertilizer Now OMRI Listed for Organic Use" which press release has been placed on the Investors page of our website.
01 Other Matters
Item 8.01 Other Matters. Bion was notified on August 21, 2024, that OMRI had completed its review of "Bion Liquid AB 10% (bea-20131) and has determined that it is Allowed with Restrictions for use in compliance with the USDA National Organic Program (NOP), carrying the following restrictions and/or caution statements: This product contains highly soluble nitrogen and must be applied in a manner that does not contribute to the contamination of crops, soil or water. Its use must be part of an organic system plan that maintains or improves the natural resources of the operation, including soil and water quality, and comply with crop nutrient and soil fertility requirements." See Exhibits 10.1 "OMRI Status Notification for Bion Liquid AB 10%" and 99.2 Press Release titled "Bion's Commercial Nitrogen Fertilizer Now OMRI Listed for Organic Use" (dated April 27, 2024) Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1 OMRI Status Notification for Bion Liquid AB 10% 99.1 Press Release titled "Bion Reports on Finance and Leadership" (dated August 23, 2024) 99.2 Press Release titled "Bion's Commercial Nitrogen Fertilizer Now OMRI Listed for Organic Use" (dated August 27, 2024) 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BION ENVIRONMENTAL TECHNOLOGIES, INC. By: /s/ Stephen Craig Scott Date: August 29, 2024 Name: Stephen Craig Scott Interim CEO