UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
September 27, 2008
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Date of Report (date of earliest event reported)
BION ENVIRONMENTAL TECHNOLOGIES, INC.
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Exact name of Registrant as Specified in its Charter
Colorado 000-19333 84-1176672
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State or Other Jurisdiction Commission File IRS Employer Identification
of Incorporation Number Number
641 Lexington Avenue, 17th Floor, New York, NY 10022
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Address of Principal Executive Offices, Including Zip Code
(212) 758-6622
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Registrant's Telephone Number, Including Area Code
Not applicable
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Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On September 27, 2008, the Company executed an agreement with Kreider
Farms (and its affiliated entities) (collectively "Kreider") to design,
construct and operate, through its wholly-owned subsidiary, Bion Services
Group, Inc., a Bion system to treat the waste from the equivalent of
approximately 1900-2000 milking dairy cows (milkers, dry cows and heifers
combined) at the Kreider Dairy, located in Mannheim, Pennsylvania. In
addition, the agreement provides for an integrated renewable energy facility
that will provide energy for Bion's waste treatment facility through the
combustion of the cellulose captured in the Bion process. The system will be
owned and operated through a special purpose entity in which Kreider will
have the option to purchase a minority interest. See Exhibit 99.1 for press
release dated September 29, 2008.
Salvatore Zizza and Dominic Bassani, Chairman/Director and Vice
President-Special Projects and Strategic Planning, respectively, of our Bion
Integrated Projects Group, Inc. subsidiary, each advanced the Company $50,000
which advances have been evidenced by promissory notes executed on September
27, 2008. See Exhibits 10.1 and 10.2. The advances will be used by the
Company for working capital purposes. It is possible, but not certain, that
Mr. Zizza and/or Mr. Bassani will make future advances to the Company.
ITEM 7.01 REGULATION FD DISCLOSURE.
Bion has received notification that its patent application entitled,
"Low Oxygen Organic Waste Bioconversion System" has been granted by the
Commonwealth of Australia Patent Office. See Exhibit 99.2.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Businesses Acquired.
Not Applicable.
(b) Pro Forma Financial Information
Not Applicable.
(c) Shell Company Transactions
Not Applicable.
(d) Exhibits
Exhibit 10.1 Promissory Note between Bion Environmental Technologies,
Inc. and Salvatore Zizza
Exhibit 10.2 Promissory Note between Bion Environmental Technologies,
Inc. and Dominic Bassani
Exhibit 99.1 Kreider Press Release dated September 29, 2008
Exhibit 99.2 Patent Press Release dated September 25, 2008
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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.
Date: September 30, 2008 By: /s/ Mark A. Smith
Mark A. Smith, President
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