X0202 3 2007-01-12 0 0000875729 BION ENVIRONMENTAL TECHNOLOGIES INC BNET 0001168243 SMITH MARK A BOX 566 CRESTONE CO 81131 1 1 0 0 President Common Stock 379916 D Common Stock 56145 I By Wife Stock Options (Right to Buy) 2 2004-06-30 2009-03-08 Common Stock 20000 D Stock Options (Right to Buy) 4.25 2005-12-31 2010-12-31 Common Stock 12500 D Stock Options (Right to Buy) 2.5 2005-05-01 2015-05-01 Common Stock 10000 D Stock Options (Right to Buy) 5 2003-08-31 2008-07-31 Common Stock 50000 D Stock Options (Right to Buy) 5.5 2006-06-19 2010-12-31 Common Stock 12500 D Warrants (Right to Buy) 2.5 2005-05-15 2005-04-30 Common Stock 35000 D Warrants (Right to Buy) 2.5 2005-09-30 2015-09-30 Common Stock 40000 D Convertible Note 2 2005-12-31 2008-07-01 Common Stock 195191 D /s/ Mark A. Smith 2007-01-11