What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2022-09-27 compared with 2021-09-29 · 67 added, 57 removed, 44 unchanged (74% of the section changed)

3 unchanged sentences

Our common stock is quoted on the Over-The-Counter

Electronic Bulletin Board under the symbol "BNET."

The following quotations reflect inter dealer prices, without

Electronic Bulletin Board under the symbol "BNET." The following quotations reflect inter dealer prices, without

retail mark up, markdown or commissions and may not represent actual transactions.

4 unchanged sentences

Fourth Fiscal Quarter

The number of holders of record of our common

stock at September 1, 2021 was approximately 1,400.

The number of holders of record of our common stock

at September 1, 2022 was approximately 1,400.

Many of our shares of common stock are held by brokers and other institutions on behalf

8 unchanged sentences

and will depend on our future earnings, if any, our capital requirements and financial condition, and other relevant factors.

During each of fiscal year 2021 and 2020 the Company

paid an aggregate dividend of $0 and $0, respectively, on shares of Series B Preferred Stock and Series C Preferred Stock which were outstanding

during the year.

A dividend of $2,000 was accrued on Series B Preferred Stock during each of the 2021 and 2020 fiscal years.

No preferred shares are outstanding at this time.

During fiscal year 2022 the Company paid an aggregate dividend of $0 cash, respectively, on shares of Series B Preferred Stock and Series

C Preferred Stock which were outstanding during the year.

A dividend of $1,000 was accrued on Series B Preferred Stock during the 2022

From July 1, 2014, the Company had 200 shares of Series B redeemable convertible Preferred stock outstanding with a par value

of $0.01 per share, convertible at the option of the holder at $2.00 per share, with dividends accrued and payable at 2.5% per quarter.

The Series B Preferred stock was mandatorily redeemable at $100 per share by the Company three years after issuance and accordingly was

classified as a liability.

The 200 shares have reached their maturity date and the Company approved the redemption of the Series B preferred

stock during the quarter ended December 31, 2021 and the final 200 shares of Series B redeemable convertible Preferred stock were redeemed

for $41,000, which included the $21,000 in accrued dividend payable.

(d) Securities Authorized for Issuance

1 unchanged sentence

In June 2006 the Company adopted its 2006 Consolidated

Incentive Plan, as amended ("Plan"), which terminated all prior plans and merged them into the Plan.

The Plan was ratified

1 unchanged sentence

Under the Plan,

Directors may grant Shares, Options, Stand Alone Stock Appreciation Rights ("SAR's"), shares of Restricted Stock, shares of

Phantom Stock and Stock Bonuses and other items with respect to a number of Common Shares that in the aggregate does not exceed 36,000,000

3 unchanged sentences

Plan in any calendar year shall not exceed $1,500,000.

As of August 1, 2021, 10,471,600 options have been granted and are outstanding

under the Plan (as amended), including all options granted under prior merged plans, and options granted from July 1, 2021 through August

1, 2021, all of which options are vested as of August 1, 2021.

As of June 30, 2021 and June 30, 2020, the Company had no outstanding

contingent Stock Bonuses.

As of June 30, 2022 11,201,600 options have been granted and outstanding under

the Plan (as amended), including all options granted under prior merged plans, and were merged into the 2021 Equity Incentive Plan.

of June 30, 2021, the Company had no outstanding contingent Stock Bonuses.

In December 2021 the Company adopted its 2021 Equity

Incentive Plan, as amended ("2021 Equity Plan").

The 2021 Equity Plan was ratified by the Company's shareholders in April

Under the 2021 Equity Plan, Directors may grant Shares, Options, Stand Alone Stock Appreciation Rights ("SAR's"),

shares of Restricted Stock, shares of Phantom Stock and Stock Bonuses and other items with respect to a number of Common Shares that in

the aggregate does not exceed 30,000,000 shares.

The maximum number of Common Shares for which Incentive Awards, including Incentive Stock

Options, may be granted to any one Participant shall not exceed 2,500,000 shares in any one calendar year.

As of June 30, 2022 nil options

have been granted and outstanding under the 2021 Equity Plan.

As of June 30, 2022, the Company had no outstanding contingent Stock

Equity Compensation Plan Information

The following table summarizes share and exercise

price information about the Company’s equity compensation plans as of June 30, 2021:

price information about the Company’s 2006 equity compensation plans as of June 30, 2022:

2006 Equity Compensation Plan table

Plan category

Number of securities to be issued upon the exercise

of outstanding options, warrants

Number of securities to be issued upon the exercise of outstanding options, warrants

Weighted average exercise price of outstanding options, warrants and rights

4 unchanged sentences

approved by security holders

(e) Recent Sales of Unregistered Securities

During the year ended June 30, 2021, the Company entered

into subscription agreements, under three different offerings, to sell units for $0.50 per unit, with each unit consisting of one share

of the Company’s restricted common stock and one warrant to purchase one share of the Company’s restricted common stock for

$0.75 per share with an expiry date of December 31, 2021 and pursuant thereto, the Company issued 3,720,000 units for total proceeds of

$1,860,000, net proceeds of $1,699,000 after commissions of $161,000.

During the year ended June 30, 2021 300,000 shares

of the Company’s restricted company stock were sold to an investor for $300,000.

During the year ended June 30, 2021, 129,364 shares

of its unregistered common stock were issued as commission.

During the year ended June 30, 2021, the company issued 1,186,824

units to various employees/consultants upon the conversion of debt pursuant to the 2006 Consolidated Incentive Plan with each unit

consisting of one share of the common stock and one warrant to purchase one share of the Company’s stock for $0.75 per share until

June 30, 2023.

(e) Recent Sales of Unregister Securities

During the year ended June 30, 2022, 2,315,550 warrants

were exercised to purchase 2,315,550 shares of the Company’s common stock at $0.75 per share for total proceeds of $1,736,662, net

proceeds of $1,718,061 after commissions of $18,601.

During the year ended June

30, 2022, 66,860 shares of its unregistered common stock were issued as commissions.

During the year ended June 30, 2022, Mark Smith elected

to convert deferred compensation, accrued interest and accounts payable of $124,698, $3342 and $52,360 respectively into an aggregate

of 360,805 units at $0.50 per unit, pursuant to the 2006 Consolidated Incentive Plan with each unit consisting of one share of the common

stock and one warrant to purchase one share of the Company’s stock for $0.75 per share until December 31, 2024.

to convert accounts payable of $17,711 into an aggregate of 35,424 units at $0.50 per unit, pursuant to the 2006 Consolidated Incentive

Plan with each unit consisting of one share of the common stock and one warrant to purchase one share of the Company’s stock for

$0.75 per share until December 31, 2024.

During the year ended June 30, 2022, the Company issued

144,000 units to Mr.

Smith for salary of $72,000, pursuant to the 2006 Consolidated Incentive Plan with each unit consisting of one share

of the common stock and one warrant to purchase one share of the Company’s stock for $0.75 per share until December 31, 2024.

During the year ended June 30, 2021, 4,065,988 warrants

were exercised to purchase 4,065,988 shares of the Company’s common stock at $0.75 per share for total proceeds of $3,049,491.

During the year ended June 30, 2020, the Company sold

3,168,001 shares of its unregistered common stock (not including 29,000 shares issued to entities for services and 143,316 shares issued

upon conversion of debt).

During the year ended June 30, 2020, the Company sold 18,000 units at $0.50 per unit

and received gross proceeds of $9,000 and net proceeds of $8,100;

each unit consisting of one share of the Company’s restricted

common stock and one half warrant to purchase half a share of the Company’s restricted common stock at $0.75 until December

During the year ended June 30, 2020, the Company also sold 2,000,001 units at $0.50 per unit, and received

gross proceeds of $1,000,000 and net proceeds of $910,500 with each unit consisting of one share of the Company’s restricted common

stock and one warrant to purchase one share of the Company’s restricted common stock at $0.75 per share until December 31, 2020.

In addition, the Company also sold 1,150,000 units at $0.50 per unit and received gross proceeds of $575,000 and net proceeds of $517,500

with each unit consisting of one share of the Company’s restricted common stock and one warrant to purchase one share of the Company’s

restricted common stock at $0.75 until December 31, 2021.

During the year ended June 30, 2020, Mark Smith

elected to convert a loan payable, accrued expenses and interest of $15,000, $52,830 and $3,828 respectively, into an aggregate 143,316

units at $0.50 per unit, pursuant to the 2006 Consolidated Incentive Plan with each unit consisting of one share of the common stock and

one warrant to purchase one share of the Company’s stock for $0.75 per share until December 31, 2024.

25,000 units at $1.10 per until for services of $27,500.

During the year ended June

30, 2021, the Company entered into subscription agreements, under three different offerings, to sell units for $0.50 per unit, with each

unit consisting of one share of the Company’s restricted common stock and one warrant to purchase one share of the Company’s

restricted common stock for $0.75 per share with an expiry date of December 31, 2021 and pursuant thereto, the Company issued 3,720,000

units for total proceeds of $1,860,000, net proceeds of $1,699,000 after commissions of $161,000.

During the year ended June

30, 2021 300,000 shares of the Company’s restricted company stock were sold to an investor for $300,000.

During the year ended June

30, 2021, 129,364 shares of its unregistered common stock were issued as commissions.

During the year ended June

30, 2021, the company issued 1,186,824 units to various employees/consultants upon the conversion of debt pursuant to the 2006 Consolidated

Incentive Plan with each unit consisting of one share of the common stock and one warrant to purchase one share of the Company’s

stock for $0.75 per share until June 30, 2023.

During the year ended June

30, 2021, Mark Smith elected to convert deferred compensation, accrued interest and accounts payable of $124,698, $3,342 and $52,360 respectively

into an aggregate of 360,805 units at $0.50 per unit, pursuant to the 2006 Consolidated Incentive Plan with each unit consisting of one

share of the common stock and one warrant to purchase one share of the Company’s stock for $0.75 per share until December 31, 2024.

During the year ended June

30, 2021, the Company issued 144,000 units to Mr.

Smith for salary of $72,000, pursuant to the 2006 Consolidated Incentive Plan with each

unit consisting of one share of the common stock and one warrant to purchase one share of the Company’s stock for $0.75 per share

until December 31, 2024.

During the year ended June

30, 2021, 4,065,988 warrants were exercised to purchase 4,065,988 shares of the Company’s common stock at $0.75 per share for total

proceeds of $3,049,491.

SELECTED FINANCIAL DATA.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity