Bion Reports on Finance and Leadership
Bion Environmental Technologies (OTC QB: BNET) has secured $500,000 in short-term financing from a group led by its three newest board members. The financing will be in the form of a note convertible into shares at the terms of Bion's next offering. Proceeds will maintain operations until a larger offering can be completed.
The company plans to pursue two main opportunities: the Stovall Ranching Company JV for premium Montana beef production and standalone ammonia control solutions for industrial and municipal sectors. Interim CEO Craig Scott acknowledged past leadership and cash flow issues but emphasized the company's technology has exceeded expectations.
Bion's patented Ammonia Recovery System produces organic and low-carbon nitrogen fertilizer products and clean water from animal manure and other organic waste streams. The company is focusing on developing state-of-the-art indoor cattle feeding operations and providing solutions in the clean fuels industry.
Bion Environmental Technologies (OTC QB: BNET) ha ottenuto 500.000 dollari in finanziamenti a breve termine da un gruppo guidato dai suoi tre nuovi membri del consiglio. Il finanziamento sarà sotto forma di un'obbligazione convertibile in azioni secondo i termini della prossima offerta di Bion. I proventi serviranno a mantenere operativa l'azienda fino a quando non sarà completata un'offerta di maggiore entità.
L'azienda prevede di perseguire due opportunità principali: la joint venture Stovall Ranching Company per la produzione di carne di manzo premium in Montana e soluzioni autonome di controllo dell'ammoniaca per i settori industriali e municipali. L'amministratore delegato ad interim, Craig Scott, ha riconosciuto i problemi di leadership e di flussi di cassa del passato, ma ha sottolineato che la tecnologia dell'azienda ha superato le aspettative.
Il sistema brevettato di recupero dell'ammoniaca di Bion produce prodotti fertilizzanti organici e a basse emissioni di carbonio e acqua pulita a partire da letame animale e altri flussi di rifiuti organici. L'azienda si sta concentrando sullo sviluppo di operazioni moderne di alimentazione del bestiame al chiuso e sulla fornitura di soluzioni nell'
Bion Environmental Technologies (OTC QB: BNET) ha asegurado 500.000 dólares en financiación a corto plazo de un grupo liderado por sus tres nuevos miembros del consejo. La financiación será en forma de un pagaré convertible en acciones según los términos de la próxima oferta de Bion. Los ingresos se utilizarán para mantener las operaciones hasta que se complete una oferta más grande.
La empresa planea aprovechar dos oportunidades principales: la empresa conjunta Stovall Ranching Company para la producción de carne de res premium en Montana y soluciones independientes de control de amoníaco para los sectores industrial y municipal. El CEO interino Craig Scott reconoció problemas de liderazgo y flujo de caja en el pasado, pero enfatizó que la tecnología de la compañía ha superado las expectativas.
El sistema de recuperación de amoníaco patentado de Bion produce productos de fertilizantes orgánicos y de bajo carbono y agua limpia a partir de estiércol animal y otros flujos de desechos orgánicos. La compañía se enfoca en desarrollar operaciones de alimentación de ganado en interiores de vanguardia y en proveer soluciones en la industria de combustibles limpios.
Bion Environmental Technologies (OTC QB: BNET)는 세 명의 새로운 이사들이 이끄는 그룹으로부터 500,000달러의 단기 자금을 확보했습니다. 자금 조달은 Bion의 다음 공모를 기준으로 주식으로 전환 가능한 채권의 형태로 제공될 것입니다. 수익금은 더 큰 공모가 완료될 때까지 운영을 유지하는 데 사용될 것입니다.
회사는 두 가지 주요 기회를 추구할 계획입니다: 몬태나에서 프리미엄 소고기를 생산하기 위한 Stovall Ranching Company JV와 산업 및 지방 정부 부문을 위한 독립적인 암모니아 제어 솔루션. 임시 CEO인 Craig Scott는 과거의 리더십과 현금 흐름 문제를 인정했지만 회사의 기술이 기대를 초과했다고 강조했습니다.
Bion의 특허받은 암모니아 회수 시스템은 동물 분뇨와 기타 유기 폐기물에서 유기농 및 저탄소 질소 비료 제품과 깨끗한 물을 생산합니다. 이 회사는 최첨단 실내 소 사료 공급 운영을 개발하고 청정 연료 산업에서 솔루션을 제공하는 데 중점을 두고 있습니다.
Bion Environmental Technologies (OTC QB: BNET) a obtenu 500 000 dollars de financement à court terme d'un groupe dirigé par ses trois nouveaux membres du conseil d'administration. Le financement prendra la forme d'une note convertible en actions selon les termes de la prochaine offre de Bion. Les recettes serviront à maintenir les opérations jusqu'à ce qu'une offre plus importante puisse être réalisée.
L'entreprise prévoit de poursuivre deux principales opportunités : la joint-venture Stovall Ranching Company pour la production de viande de bœuf premium dans le Montana et des solutions autonomes de contrôle de l'ammoniac pour les secteurs industriel et municipal. Le PDG par intérim Craig Scott a reconnu les problèmes de leadership passés et de flux de trésorerie, mais a souligné que la technologie de l'entreprise a dépassé les attentes.
Le système de récupération de l'ammoniac breveté de Bion produit des produits de fertilisation organiques et à faible carbone et de l'eau propre à partir du fumier animal et d'autres flux de déchets organiques. L'entreprise se concentre sur le développement de opérations modernes d'alimentation du bétail en intérieur et sur l'offre de solutions dans l'industrie des combustibles propres.
Bion Environmental Technologies (OTC QB: BNET) hat 500.000 Dollar an kurzfristiger Finanzierung von einer Gruppe, die von seinen drei neuesten Vorstandsmitgliedern geleitet wird, gesichert. Die Finanzierung erfolgt in Form einer wandelbaren Anleihe, die zu den Bedingungen des nächsten Angebots von Bion in Aktien umgewandelt werden kann. Die Erlöse werden verwendet, um den Betrieb aufrechtzuerhalten, bis ein größeres Angebot abgeschlossen werden kann.
Das Unternehmen plant, zwei Hauptmöglichkeiten zu verfolgen: die Joint Venture mit Stovall Ranching Company zur Premium-Rindfleischproduktion in Montana und eigenständige Lösungen zur Ammoniaksteuerung für die Industrie- und Kommunalsektoren. Interims-CEO Craig Scott erkannte frühere Führungs- und Cashflow-Probleme an, betonte jedoch, dass die Technologie des Unternehmens die Erwartungen übertroffen hat.
Bions patentiertes Ammoniak-Rückgewinnungssystem produziert organische und kohlenstoffarme Stickstoffdüngerprodukte sowie sauberes Wasser aus Tiermist und anderen organischen Abfallströmen. Das Unternehmen konzentriert sich auf die Entwicklung von modernsten Fütterungsbetrieben für Rinder in Innenräumen und bietet Lösungen in der sauberen Brennstoffindustrie an.
- Secured $500,000 in short-term financing to maintain operations
- New leadership team brings commercialization mindset and focused approach
- Technology has exceeded expectations
- Pursuing joint venture for premium Montana beef production
- Expanding into ammonia control solutions for industrial and municipal sectors
- Company faced leadership and cash flow issues
- Reliance on short-term financing indicates potential financial instability
- Larger offering still needed for long-term operations
Billings. Montana, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and sustainable livestock production, announced today that it has received a commitment from a group led by its three newest board members for
Details of the transaction will be available in an 8-k, to be filed next week. However, the short-term facility will consist of a note, convertible into shares at the terms of Bion’s next offering. Proceeds will be used to maintain the company’s operations until a larger offering can be completed.
Bion’s new leadership intends to pursue both the Stovall Ranching Company JV to produce premium Montana beef, and the standalone opportunity to provide ammonia control solutions in the industrial and municipal sectors.
Craig Scott, Bion’s interim CEO, stated, “It's no secret we ran out of both leadership and cash; but we are serious about putting the train back on the tracks. The train – our technology – did not break. In fact, it has exceeded expectations. This new leadership group – Turk, Greg, and Bob – bring a commercialization mindset and a no-nonsense approach that this company needs. As we move forward with projects, they are the right core team to keep us focused on our markets and moving in the right direction.”
Bion Environmental Technologies’ patented Ammonia Recovery System produces organic and low-carbon nitrogen fertilizer products and clean water from animal manure waste and other organic waste streams. It supports the Gen3Tech system that will minimize environmental impacts from CAFO/ livestock waste, generate Renewable Natural Gas, improve resource and production efficiencies, and produce the ‘cleanest’, most eco-friendly finished beef in the marketplace. Bion is focused on developing state-of-the-art indoor cattle feeding operations and providing solutions in the fast-growing clean fuels industry. See Bion’s website at https://bionenviro.com.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words ‘will’, ‘intends’, and similar expressions identify certain forward-looking statements. It should be noted it is difficult to accurately predict the startup and optimization of a first-of-its-kind advanced waste treatment technology platform. The timelines discussed are estimates only. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes.
Contact Information:
Craig Scott
Interim CEO
(406) 281-8178 direct
FAQ
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