BASA Research | Milton Maxwell

BASA

Basanite, Inc.

0.0500

+0.0050+11.1%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

13.38M

P/E (TTM)

Basic EPS (TTM)

0.00

Dividend Yield

Recent Filings

10-Q

Q3 FY2025 results

11/25/25Nov 25, 2025

Basanite's Q3 revenue cratered to $1,513 from $62,836 y/y, flipping to a $108K gross loss from $32K profit amid paused manufacturing and vendor reliance; nine-month revenue fell to $67K from $209K y/y. Operating loss widened to $284K from $137K y/y, while net loss narrowed to $207K from $374K thanks to a $236K other expense offset. Cash drained to zero from $82K, offset by $505K related-party financing against $10M liabilities. Stock issued for services added 7.4M shares. Ongoing 2021 PIPE liquidated damages loom large.

8-K

CFO resigns, retains CEO role

10/16/25Oct 16, 2025

Basanite's Acting Interim CFO Ronald LoRicco, Sr. resigned from that role on October 15, 2025, but stays on as Acting Interim CEO and Chairman. No successor named yet. Leadership shuffle tightens focus at the top.

8-K

CTO Tingberg retires

8/19/25Aug 19, 2025

Basanite's Frederick Tingberg resigned from the Board and as Chief Technology Officer on August 15, 2025, citing retirement. The move leaves a tech leadership gap. No successor named yet.

10-Q

Q2 FY2025 results

8/19/25Aug 19, 2025

Basanite's Q2 revenue from rebar sales plunged 56% y/y to $38K while gross profit cratered 75% to $14K, reflecting manufacturing constraints and limited capacity; six-month revenue fell 55% y/y to $66K. Operating loss widened to $661K (six months), with SG&A up 80% y/y to $688K from consulting and legal fees, while net loss hit $1.2M—beyond operations due to $507K interest expense. Cash ticked up to $109K via $505K related-party notes, yet total debt exceeds $5M amid $9.7M liabilities and $9.8M working capital hole. Notes pile on. Liquidity strains persist.

8-K

Four directors resign

8/15/25Aug 15, 2025

Basanite's board lost four directors in quick succession: Andrew Acquarulo resigned August 13 over personal commitments, while Paul Sallarulo, Sergio Salani retired August 14, and Jackie Placeres departed August 15. No replacements named. Board shrinks fast.

About

Basanite, Inc., through its subsidiary, Basanite Industries, LLC, manufactures and sells basalt fiber reinforced polymer (BFRP) reinforcing bar products for the construction industry worldwide. It provides BasaFlex, a BFRP reinforcing bar; BasaMix, which are fine denier basalt fibers; and BasaMesh, a line of basalt geogrid mesh rolls to replace welded wire mesh. The company's BFRP products are used for concrete reinforcement and steel reinforcement, as well as a replacement for other FRP rebar and industry established fiber products. It sells its products through third-party distribution partners. The company was formerly known as PayMeOn, Inc. and changed its name to Basanite, Inc. in December 2018. Basanite, Inc. was founded in 2006 and is based in Pompano Beach, Florida.

CEO

Mr. Ronald J. LoRicco Sr., Esq.

IPO

8/5/2013

Website

https://www.basaniteindustries.com

Employees

Sector

Basic Materials

Industry

Building Materials