BASA 8-K
Basanite, Inc. (BASA)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2021
Basanite, Inc.
(Exact name of registrant as specified in its charter)
| Nevada | 000-53574 | 20-4959207 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S Employer Identification No.) |
2041 NW 15th Avenue, Pompano Beach, Florida 33069
(Address of principal executive offices) (Zip Code)
954-532-4653
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer.
Effective as of June 30, 2021, Gregory D. Cline and Kelly Paterson resigned as members of the Board of Directors (the “Board”) of the Basanite, Inc, a Nevada corporation (the “Company”). Both Mr. Cline and Mr. Patterson were members of the Board’s Audit and Compensation Committee. Neither Mr. Cline’s nor Mr. Patterson’s resignation was as a result of any disagreement with the Company or any of its subsidiaries on any matters related to their operation, policies or practices. A copy of both Mr. Cline’s and Mr. Patterson’s resignation letters dated June 30, 2021 are attached hereto as Exhibits 17.1 and 17.2, respectively.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit | ||
| No. | Description | |
| 17.1 | Resignation letter of Gregory D. Cline dated June 30, 2021. | |
| 17.2 | Resignation letter of Kelly Patterson dated June 30, 2021. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 7, 2021
| BASANITE, INC. | ||
| By: | /s/ Simon R. Kay | |
| Simon R. Kay | ||
| Acting Interim President and Chief Executive Officer | ||
June 30, 2021
Basanite, Inc.
2041 NW 15th Avenue
Pompano Beach, Florida 33069
RE: Resignation from Basanite, Inc. Board of Directors
Dear Chairman Barbera and Board of Directors:
As previously conversed, and with our nation getting back to normal, I will now be continuing with my retirement plans with moving and extensive traveling throughout the United States, necessitating me retiring as a Director from the Basanite, Inc. Board of Directors.
Therefore, effective as of the date of this letter, I hereby resign as a member of the Board of Directors of Basanite, Inc. (the “Company”), including as a member of any and all committees of the Board of Director on which I serve.
My resignation is not a result of any disagreement with the Company or any of its subsidiaries on any matters related to their operation, policies or practices.
It has been a pleasure to serve on the Board as we have supported the significant progress in producing this high-quality product; and now positioning the company to grow to becoming a primary supplier of sustainable materials in our nation’s infrastructure.
Sincerely,
/s/ Gregory D. Cline
Gregory D. Cline
June 30, 2021
Basanite, Inc.
2041 NW 15th Avenue
Pompano Beach, Florida 33069
RE: Resignation from Basanite, Inc.
Dear Board of Directors:
Effective as of the date of this letter, I hereby resign as a member of the Board of Directors of Basanite, Inc. (the “Company”), including as a member of any and all committees of the Board of Director on which I serve.
My resignation is not a result of any disagreement with the Company or any of its subsidiaries on any matters related to their operation, policies or practices.
Sincerely,
/s/ Kelly Patterson
Kelly Patterson