Bion Environmental Technologies
0.2000+0.01 (+5.26%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · BNET · USD
Key Stats
Market Cap
11.38MP/E (TTM)
-Basic EPS (TTM)
-0.04Dividend Yield
0%Recent Filings
8-K
Settlement cuts dilution sharply
Bion Environmental Technologies ratified settlement agreements on October 7, 2025, with former CEO Dominic Bassani's family members, ex-director Mark A. Smith, and ex-director Edward Schafer, exchanging their convertible notes, warrants, options, and claims for 8,101,746 common shares issuable by January 15, 2026. This cancels instruments that could have added 22,498,405 shares, netting a 14,369,659-share reduction in fully diluted shares while boosting outstanding shares by about 8.1 million. The move simplifies the capital structure. Dilution eases, yet issuance dilutes current holders.
10-K
FY2025 results
Bion Environmental Technologies posted a $2.4 million net loss for FY2025 ended June 30, 2025, a sharp improvement from FY2024's $11.7 million hit driven by a one-time $9.5 million non-cash impairment of its Fair Oaks demonstration facility, now reclassified as R&D with zero carrying value. No revenue yet, but Q4 saw key momentum with the June release of a technology-optimization report confirming the ARS's stability, scalability, and 33% better water efficiency than modeled, paving the way for commercial designs; May secured non-binding offtake commitments for 250,000 gallons of AB10 fertilizer from distributors like Perfect Blend and Yield RNG. Cash dwindled to $4,400 amid $868,000 operating burn, offset by $820,000 in short-term debt from affiliates including a $500,000 secured note from director-led BLG LLC at 9% interest, maturing January 2026. No dividends or buybacks; capex nil post-impairment. September 2025 settlements with Bassani family, Smith, and Schafer cancel $3.5 million in notes, options, and warrants for 8.1 million shares, netting a 14.4 million share dilution cut. Yet regulatory delays in nutrient markets could stall quarterly bolt-on project ramps.
8-K
Capital structure simplified
Bion Environmental Technologies settled with five holders, canceling obligations like convertible notes and warrants that could have added 22,498,405 shares, in exchange for issuing 8,101,746 shares effective September 15, 2025. This nets a 14,369,659-share reduction in fully diluted shares, simplifying the capital structure and easing accounting. Warrants expiring that day yielded just 209,816 shares via cashless exercise. Legacy overhang cleared.
8-K
Note maturity extended to 2026
Bion Environmental Technologies extended its forbearance agreement with Bion BLG LLC on July 24, 2025, pushing the $500,000 convertible note's maturity to January 15, 2026, while maintaining 9% interest amid ongoing defaults from failing to raise $3 million in funding. The deal allows up to $100,000 in additional disbursements for legal defense in the Fair Oaks Lawsuit, proportional to progress toward the remaining $2.549 million fundraising goal—only $451,000 raised so far. Bion must now hit weekly reporting and covenants to avoid lender remedies on its IP collateral. Lenders hold leverage here.
8-K
Bion updates bolt-on strategy
Bion Environmental Technologies issued an update on June 24, 2025, shifting focus to 'bolt-on' Ammonia Recovery Systems for existing biogas facilities to capture organic nitrogen fertilizers and control ammonia, amid deteriorating biogas economics and rising demand for sustainable solutions. The company secured initial Letters of Interest from Perfect Blend and Yield RMG for 2026 deliveries, while its Technology-Optimization Report revealed costs 25% lower than expected, boosting commercialization prospects. ARS is ready for full-scale deployment. Yet financial struggles persist, with ongoing reliance on convertible notes.
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