Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Bassani Dominic
   2. Issuer Name and Ticker or Trading Symbol
BION ENVIRONMENTAL TECHNOLOGIES INC [BNET] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO
(Last)
(First)
(Middle)
C/O BRIGHT CAPITAL, LTD., 64 VILLAGE HILLS DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
05/20/2014
(Street)

DIX HILLS, NY 11746		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/20/2014 05/20/2014 G(1)   40,000 D $ 0 5,624 D  
Common Stock 05/20/2014 05/20/2014 G(2)   544,036 D $ 0 354,342 I By Wife
Common Stock 05/20/2014 05/20/2014 G   400,000 A $ 0 400,000 I By Daughter's Trust
Common Stock               68,000 I By Daughter's IRA
Common Stock               509,397 I By IRA
Common Stock               10,050 I By Roth IRA
Common Stock               276,104 I By Wife's IRA
Common Stock               44,382 I By Wife's Roth IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants to Purchase Common Stock (DB-1-A) $ 0.75 05/20/2014 05/20/2014 G(1)     400,000 01/11/2009 12/31/2018 Common Stock 400,000 $ 0 600,000 D  
Warrants to Purchase Common Stock (DB-1-A) $ 0.75 05/20/2014 05/20/2014 G     400,000 01/11/2009 12/31/2018 Common Stock 400,000 $ 0 200,000 D  
Warrants to Purchase Common Stock (DB-1-AA) $ 0.75 05/20/2014 05/20/2014 G   400,000   01/11/2009 12/31/2018 Common Stock 400,000 $ 0 400,000 I By Daughter
Warrants to Purchase Common Stock (SVDB-6) $ 3             08/31/2003 12/31/2018 Common Stock 25,000   25,000 I By Wife
Warrants to Purchase Common Stock (DB-1) $ 1             02/20/2004 12/31/2018 Common Stock 600,000   600,000 D  
Warrants to Purchase Common Stock (DB-A-2) $ 2.5             05/15/2005 12/31/2018 Common Stock 300,000   300,000 D  
Warrants to Purchase Common Stock (DBADV-1) $ 0.85             03/31/2014 12/31/2018 Common Stock 15,000   15,000 D  
Warrants to Purchase Common Stock (DBEXT-1) $ 2.1             07/15/2012 12/31/2018 Common Stock 50,000   50,000 D  
Options (Right to Buy) $ 3             08/03/2011 12/31/2019 Common Stock 725,000   725,000 D  
Warrants to Purchase Common Stock (SVDB-1) $ 3             08/31/2003 12/31/2018 Common Stock 466,000   466,000 I By Daughter
Warrants to Purchase Common Stock (A-1-1) $ 2.5             05/15/2005 12/31/2018 Common Stock 100,000   100,000 I By Daughter
Warrants to Purchase Common Stock (A-3) $ 2.5             05/15/2005 12/31/2018 Common Stock 100,000   100,000 I By Daughter
Warrants to Purchase Common Stock (DB-2A-2) $ 2.5             09/30/2009 01/15/2019 Common Stock 250,000   250,000 I By Daughter
Warrants to Purchase Common Stock (BNET-2-1) $ 3             06/01/2011 12/31/2018 Common Stock 15,000   15,000 I By Daughter

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Bassani Dominic
C/O BRIGHT CAPITAL, LTD.
64 VILLAGE HILLS DRIVE
DIX HILLS, NY 11746		     X   CEO  

Signatures

 /s/ Dominic Bassani   07/07/2014
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares gifted to Danielle Christine Bassani Trust (Mr. Bassani's daughter who is living at home).
(2) Includes 360,000 shares gifted to Danielle Christine Bassani Trust.

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