Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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 *
  Orphanos Anthony
 2. Date of Event Requiring Statement (Month/Day/Year)
01/12/2007		 3. Issuer Name and Ticker or Trading Symbol
BION ENVIRONMENTAL TECHNOLOGIES INC [BNET]
(Last)
(First)
(Middle)
C/O CARET ASSET MANAGEMENT, 40 WEST 57TH STREET, 20TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10019		 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 Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 1,218,416
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant 01/13/2009 12/31/2018 Common Stock 15,000 $ 0.75 D  
Warrant 04/30/2009 12/31/2018 Common Stock 10,500 $ 1.25 D  
Option 08/31/2003 12/31/2012 Common Stock 5,000 $ 5 D  
Option 03/09/2004 12/31/2012 Common Stock 5,000 $ 2 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Orphanos Anthony
C/O CARET ASSET MANAGEMENT
40 WEST 57TH STREET, 20TH FLOOR
NEW YORK, NY 10019		     X    

Signatures

/s/ A. G. Orphanos 09/30/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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).
 
Remarks:
The reporting person has previously filed a Form 3 on January 12, 2007 and he has filed Form 4's subsequent thereto, but in preparing for the issuer's most recent Form 10-K filing which was made on September 23, 2009, it was determined that there were several discrepancies between his beneficial ownership and the contents of his most recent Form 4 filing.  He is unable to trace where the mistakes originated without unreasonable effort or expense.  Therefore, he has elected to file this Form 3 to report his current ownership in the issuer, and all future filings will use the amounts shown in this Form 3 as a baseline for future changes.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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