other material
confidence high
sentiment neutral
materiality 0.75
Bion gets $500k commitment from board group; OMRI certifies nitrogen fertilizer for organic use
BION ENVIRONMENTAL TECHNOLOGIES INC
- Group led by three new board members commits up to $500k via secured convertible note; terms not finalized.
- Proceeds to maintain operations until larger offering; interim CEO admits company ran out of cash and leadership.
- Commercial 10-0-0 nitrogen fertilizer OMRI Listed for organic use, allowing sales to organic farmers.
- OMRI listing is second for Bion, first for a concentrated commercial product; can be applied via drip irrigation.
- Fertilizer derived from patented Ammonia Recovery System captures ammonia from livestock manure.