Bion Environmental enters second forbearance agreement extending BLG note maturity to Jan 2026; default continues

BION ENVIRONMENTAL TECHNOLOGIES INC

Second Forbearance Agreement extends $500k BLG Note maturity to Jan 15, 2026; interest rate rises from 7.5% to 9%.
Company admitted default on raising $3M funding and inability to pay creditors; only $451k of $3M raised so far.
Up to $100k of additional Note funds available for legal fees in Fair Oaks construction litigation, disbursed proportionally to new investment.
Company must raise additional $2.549M by end of forbearance period or trigger a Forbearance Default.
Note is secured by company's intellectual property/patents; BLG LLC includes former director Turk Stovall and other affiliates.

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