SC 13G 1 centerpoint.txt BION ENVIRONMENTAL TECH / CENTERPOINT CORP 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) Under the Securities Exchange Act of 1934 BION ENVIRONMENTAL TECHNOLOGIES, INC. ------------------------------------- (Name of Issuer) Common Stock, $.0001 Par Value ------------------------------ (Title of Class of Securities) 09061Q307 -------------- (CUSIP Number) December 31, 2007 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ ] Rule 13d-1(c) [X] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13G CUSIP No. 09061Q307 1 NAME OF REPORTING PERSON Centerpoint Corporation 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) --- Not applicable (b) --- 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA Number of Shares Beneficially Owned by Each Reporting Person With 5 SOLE VOTING POWER 693,799 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 693,799 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 693,799 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES (See Instructions) Not applicable 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.7% 12 TYPE OF REPORTING PERSON (See Instructions) CORP 2 Item 1. (a) Name of Issuer: Bion Environmental Technologies, Inc. (b) Address of Issuer's Principal Executive Offices: 641 Lexington Avenue, 17th Floor New York, NY 10022 Item 2. (a) Name of Person Filing: Centerpoint Corporation (b) Address of Principal Business Office or, if none, residence: 641 Lexington Avenue, 17th Floor New York, NY 10022 (c) Citizenship: USA (d) Title of Class of Securities: Common Stock, $.0001 par value (e) CUSIP No.: 09061Q307 Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), check whether the person filing is a: Not applicable. Item 4. Ownership. (a) Amount Beneficially Owned: 693,799 (b) Percent of Class: 7.7% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 693,799 (1) (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 693,799 (1) (iv) shared power to dispose or to direct the disposition of: 0 ______________ (1) Centerpoint Corporation is currently majority owned by Bion Environmental Technologies, Inc. Under Colorado law, Centerpoint Corporation is not entitled to vote these shares unless otherwise ordered by a court. These shares of common stock may be distributed to the shareholders of Centerpoint Corporation at a future date pursuant to a dividend declared during July 2004. The shares distributed to Bion, if any, will be cancelled immediately upon receipt. Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable. 3 Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certification. Not applicable. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 6, 2008 CENTERPOINT CORPORATION By: /s/ Mark A. Smith Mark A. Smith, President 4