EXHIBIT 10.2

                             PROMISSORY NOTE ("NOTE")

     FOR VALUE RECEIVED, the undersigned, Bion Environmental Technologies,
Inc., a Colorado corporation ("MAKER"), hereby promises to pay to the order
of Dominic Bassani ('HOLDER'), and its successors and assigns, c/o 64 Village
Hill Drive, Dix Hills, NY 11746, or at such other place as the HOLDER of this
Note may from time to time designate in writing, all sums due under this Note
(plus interest) in lawful and immediately available money of the United
States.  The initial principal of this Note is $50,000.00. Subsequent
advances from HOLDER to Maker shall be added to the principal of this Note.
Interest shall be accrued and added to principal at a simple rate of eight
percent (8.0%) per annum from date owed by Maker.  All outstanding principal
and interest shall be due and payable on or before February 1, 2009, if not
previously paid.  If this Note or interest due hereunder is not paid when due
or declared due hereunder, the principal shall draw interest at the rate of
one and one half percent (1.5%) per month.

     Upon default by the MAKER of the timely payment of principal or interest
due hereunder or upon any Event of Default as hereinafter defined, the HOLDER
may, in its sole discretion, withhold any payments due and payable to MAKER
and apply same to the MAKER's obligations hereunder.  In addition, upon any
Event of Default, the HOLDER may declare the full amount of this Note due and
payable.

     If any one or more of the following events ("Events of Default") shall
occur for any reason whatsoever (and whether such occurrence shall be
voluntary or involuntary or come about or be effected by operation of law,
pursuant to or in compliance with any judgment, decree of order of any court,
or any order, rule or regulation of any administrative or governmental body,
or otherwise) the HOLDER of this Note may, at its option, upon written notice
to MAKER, declare this Note and any other promissory note issued by MAKER to
HOLDER (whether or not then due in accordance with its terms) to be due and
payable, whereupon the entire balance of this Note shall forthwith become and
be due and payable:

     (a)  MAKER fails to make payment of principal or of interest on this
Note or any other obligation of MAKER when such shall become due and payable,
whether at the stated maturity thereof or by acceleration or otherwise;

     (b)  MAKER (1) admits its inability to pay its debts as they become due;
(2) files a petition in bankruptcy or makes a petition to take advantage of
an insolvency act;  (3) makes an assignment for the benefit of creditors; (4)
commences a proceeding for the appointment of a receiver, trustee,
liquidator, or conservator of itself or of the whole or any substantial part
of its properties; (5) files a petition or answer seeking reorganization or
arrangement or similar relief under the federal bankruptcy laws or any other
applicable law or statute or the United States or any State;

     (c)  MAKER (1) is adjudged as bankrupt, (2) a court enters an order,
judgment or decree, appointing a receiver, trustee, liquidator or conservator
of MAKER or of the whole or any substantial part of its properties, or
approve a petition filed against MAKER seeking reorganization or similar
relief under the federal bankruptcy laws or any other applicable law or
statute of the United States or any state; (3) under the provisions of any
other law for the relief or aid of debtors, a court assumes custody or
control of MAKER or the whole or any substantial part of its properties; (4)
there is commenced against MAKER any proceeding for any of the foregoing
relief; (5) a petition in bankruptcy is filed against MAKER; or (6)  MAKER by
any act indicates its consent to approval of or acquiescence in any such
proceeding or petition.

     Except as otherwise hereinabove expressly provided, MAKER hereby waives
diligence, demand, protest, presentment and all notices (whether of
nonpayment, dishonor, protest, acceleration or otherwise) and consents to
acceleration of the time of payment, surrender or substitution of security or
forbearance, or other indulgence, without notice.

     Jurisdiction and venue shall be in a court of general jurisdiction
located in the State of New York.  In the event that litigation is necessary
to collect the principal (and interest) of the Note, HOLDER shall be entitled
to reasonable attorneys' fees and litigation costs associated therewith.

                                 BION ENVIRONMENTAL TECHNOLOGIES, INC.



                                 By: /s/ Mark A. Smith
                                     Authorized Officer


Date:  September 26, 2008

Initial principal:  $50,000.00

Date Due:  February 1, 2009