Basanite (BASA) 10-Q 18 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 15, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-53574
Entity Registrant Name	Basanite, Inc
Entity Central Index Key	0001448705
Entity Tax Identification Number	20-4959207
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2660 NW 15th Court
Entity Address, Address Line Two	Unit 108
Entity Address, City or Town	Pompano Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33069
City Area Code	954
Local Phone Number	532-4653
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		260,156,796

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash	$ 2,326	$ 55,248
Accounts receivable, net	39,532	40,222
Prepaid Expenses
TOTAL CURRENT ASSETS	41,858	95,470
Lease right-of-use asset, operating		56,915
Fixed assets, net	175,881	402,271
TOTAL NON–CURRENT ASSETS	175,881	459,186
TOTAL ASSETS	217,739	554,656
CURRENT LIABILITIES
Accounts payable	1,624,188	1,762,390
Accrued expenses	1,857,875	1,207,545
Due to shareholders	475,000	475,000
Notes payable	270,000	270,000
Notes payable - related party	2,028,000	1,750,000
Notes payable - convertible - related party, net	2,144,357	2,144,357
Lease liability - current portion		56,915
TOTAL CURRENT LIABILITIES	8,399,421	7,666,207
TOTAL LIABILITIES	8,399,421	7,666,207
STOCKHOLDERS’ (DEFICIT) EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 1,000,000,000 shares authorized, 260,156,796 and 259,156,796 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	260,157	259,157
Additional paid-in capital	48,905,681	48,891,681
Accumulated deficit	(57,347,520)	(56,262,389)
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY	(8,181,682)	(7,111,551)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 217,739	$ 554,656

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	260,156,796	259,156,796
Common stock, shares outstanding	260,156,796	259,156,796

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue
Products sales – rebar	$ 62,836	$ 49,140	$ 209,176	$ 317,664
Total cost of goods sold	31,127	53,640	65,579	167,223
Gross profit	31,709	(4,500)	143,597	150,441
OPERATING EXPENSES
Sales, general, and administrative	168,856	332,560	508,206	1,302,699
Total operating expenses	168,856	332,560	508,206	1,302,699
NET LOSS FROM OPERATIONS	(137,147)	(337,060)	(364,609)	(1,152,258)
OTHER INCOME (EXPENSE)
Gain on settlement of legal contingency
Liquidated damage - loan commitment
Miscellaneous income
Gain on settlement of payable
Impairment of fixed assets	(43,915)		(43,915)
Gain (Loss) on extinguishment of debt
Gain on Loan forgiveness
Interest expense	(192,930)	(162,529)	(676,607)	(435,636)
Total other income (expense)	(236,845)	(162,529)	(720,522)	(435,636)
NET LOSS	$ (373,992)	$ (499,589)	$ (1,085,131)	$ (1,587,894)
Net loss per share - basic	$ 0	$ (0.002)	$ 0	$ (0.01)
Net loss per share - diluted	$ 0	$ (0.002)	$ 0	$ (0.01)
Weighted average number of shares outstanding - basic	260,156,796	259,156,796	260,156,796	259,156,796
Weighted average number of shares outstanding - diluted	260,156,796	259,156,796	260,156,796	259,156,796

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022		$ 253,218	$ 47,433,354	$ (54,093,010)	$ (6,406,438)
Beginning balance, shares at Dec. 31, 2022		253,217,402
Stock based compensation			64,266		64,266
Net loss				(468,454)	(468,454)
Ending balance, value at Mar. 31, 2023		$ 253,218	47,497,620	(54,561,464)	(6,810,026)
Ending balance, shares at Mar. 31, 2023		253,217,402
Shares issued from subscription payable		$ 3,939	1,296,061		1,300,000
Shares issued from subscription payable, shares		3,939,394
Net loss				(619,581)	(619,581)
Net loss, shares		2,000,000
Ending balance, value at Jun. 30, 2023		$ 257,157	48,793,681	(55,181,315)	(6,130,477)
Ending balance, shares at Jun. 30, 2023		257,156,796
Net loss		$ 2,000		(619,581)	(619,581)
Ending balance, value at Sep. 30, 2023		$ 259,157	48,793,681	(55,181,315)	(6,130,477)
Ending balance, shares at Sep. 30, 2023		259,156,796
Beginning balance, value at Dec. 31, 2023		$ 259,157	48,891,681	(56,262,389)	(7,111,551)
Beginning balance, shares at Dec. 31, 2023		259,156,796
Stock based compensation		$ 1,000	14,000		15,000
Stock-based compensation, shares		1,000,000
Net loss				(287,958)	(711,139)
Ending balance, value at Mar. 31, 2024		$ 260,157	48,905,681	(56,550,347)	(7,384,509)
Ending balance, shares at Mar. 31, 2024		260,156,796
Net loss				(423,181)	(423,181)
Ending balance, value at Jun. 30, 2024		$ 260,157	48,905,681	(56,973,528)	(7,807,690)
Ending balance, shares at Jun. 30, 2024		260,156,796
Net loss				(373,992)	(373,992)
Ending balance, value at Sep. 30, 2024		$ 260,157	$ 48,905,681	$ (57,347,520)	$ (8,181,682)
Ending balance, shares at Sep. 30, 2024		260,156,796

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,085,131)	$ (1,587,894)
Adjustments to reconcile net loss to net cash used in operating activities:
Lease right-of-use asset amortization	56,915	72,546
Depreciation	91,639	96,005
Stock-based compensation	15,000	97,205
Changes in operating assets and liabilities:
Prepaid expenses		51,889
Accounts receivable	690	(28,505)
Accounts payable and accrued expenses	646,880	517,297
Subscription liability
Lease liability	(56,915)	(39,367)
Net cash used in operating activities	(330,922)	(820,824)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock, net
Proceeds from exercise of stock options
Proceeds from notes payable and notes payable related party	278,000	970,000
Repayments of notes payable and notes payable related party		(64,234)
Net cash provided by financing activities	278,000	905,766
NET INCREASE IN CASH	(52,922)	84,942
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	55,248	30,340
CASH AND CASH EQUIVALENTS AT END OF PERIOD	2,326	114,573
Supplemental cash flow information:
Cash paid for interest
Cash paid for taxes

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (373,992)	$ (499,589)	$ (1,085,131)	$ (1,587,894)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION, NATURE OF BUSINES

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	NOTE 1 – ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN (A) Description of Business Basanite, Inc., a Nevada corporation (the “Company”, “Basanite”, “we”, “us”, “our” or similar terminology), through our wholly owned subsidiary, Basanite Industries, LLC, a Delaware limited liability company (“BI”), manufactures a range of “green” (environmentally friendly), sustainable, non-corrosive, lightweight, composite products used in concrete reinforcement by the construction industry. Our core product is BasaFlex™, a basalt fiber reinforced polymer reinforcing bar (“rebar”) which we believe is a stronger, lighter, sustainable, non-conductive and corrosion-proof alternative to traditional steel. Our two other main product lines are BasaMix™, which are fine denier basalt fibers available in various sizes, and BasaMesh™, a line of Basalt Geogrid Mesh Rolls, intended to replace welded wire mesh (made of steel) and other fiber reinforced polymer (“FRB”) grids and mesh. BasaMix™ is designed to help absorb the stresses associated with early-aged plastic shrinkage and settlement cracking in concrete, as well as providing an increased toughness for enhanced reinforcement in Slab-on-Grade ("SOG”) and precast elements. BasaMix™ also serves in a “system approach” for optimum performance of a concrete element when used in conjunction with our BasaFlex™ rebar. BasaMesh™ is designed for secondary and temperature shrinkage reinforcement. BasaMesh™ can also work in conjunction with the BasaFlex™ rebar or BasaMix™ for a total reinforcement program. Each of our products is specifically designed to extend the lifecycle of concrete products by eliminating “concrete spalling.” Spalling results from the steel reinforcing materials embedded within the concrete member rusting (contrary to popular belief, concrete is porous, and water can permeate into concrete). Rusting leads to the steel expanding and eventually causing the surrounding concrete to delaminate, crack, or even break off, resulting in potential structural failure. We believe that each Basanite product addresses this important need along with other key requirements in today’s construction market. (B) Liquidity and Management Plans Since inception, the Company has incurred net operating losses and used cash in operations. As of September 30, 2024, and December 31, 2023, respectively, the Company reported: • an accumulated deficit of $ 57.3 56.3 • a working capital deficiency of $ 8.8 7.1 • cash used in operations of $ 1.1 Losses have principally occurred as a result of the substantial resources required for product research and development and for marketing of the Company’s products; including the general and administrative expenses associated with the organization. While we have generated relatively little revenue to date, revenue from sales of product began to increase in the quarter ended March 31, 2021, and we continue to receive inquiries and solicit orders from a range of customers for our products, indicating what we believe is a significant level of market interest for BasaFlex™. While the Company expects to restart its manufacturing during 2025, based on our current limited manufacturing capacity there is no guarantee that orders will actually be received or that orders, if received, can be properly fulfilled. We have historically satisfied our working capital requirements through the sale of restricted common stock of the Company, $0.001 par value per share (the “Common Stock”), and the issuance of warrants to purchase Common Stock and promissory notes. Until we are able to internally generate meaningful revenue and positive cash flow, we will attempt to fund working capital requirements through third party financing, including through potential private or public offerings of our securities as well as bridge or other loan arrangements. However, a number of factors continue to hinder the Company’s ability to attract new capital investment. We cannot provide any assurances that the required capital will be obtained at all, or that the terms of such required capital may be acceptable to us. If we are unable to obtain adequate financing, we may reduce our operating activities to reduce our cash use until sufficient funding is secured. If we are unable to secure funding when needed, our results of operations may suffer, and our business may fail. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of these uncertainties.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (A) Use of Estimates in Financial Statements The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Stock-based compensation and stock awards related to convertible debt instruments are recognized based on the fair value of the awards granted. The fair value of each award or conversion feature is typically estimated on the grant date using the Black-Scholes pricing model. The Black-Scholes pricing model requires the input of highly subjective assumptions, including the fair value of the underlying Common Stock, the expected term of the option, the expected volatility of the price of our Common Stock, risk-free interest rates and the expected dividend yield of our Common Stock. The assumptions used to determine the fair value of the stock awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The Company used the Black Scholes valuation model to determine the fair value of the warrants and options issued, using the following key assumptions for the three and six months ended September 30, 2024, and 2023, respectively: Schedule of fair value assumptions of warrants and options issued Nine months ended September 30, 2024 Nine months ended September 30, 2023 Expected price volatility — % — % Risk-free interest rate — — Expected life in years — — Dividend yield — — (B) Principles of Consolidation The condensed consolidated financial statements include the accounts of Basanite, Inc. and its wholly owned subsidiaries, Basanite Industries, LLC and Basalt America, LLC. All intercompany balances have been eliminated in consolidation. The Company’s operations are conducted primarily through Basanite Industries, LLC. Basalt America, LLC is currently inactive. (C) Cash The Company considers all highly liquid temporary cash instruments with an original maturity of three months or less to be cash equivalents. The Company places its cash, cash equivalents and restricted cash on deposit with financial institutions in the United States, which are insured by the Federal Deposit Insurance Company “("FDIC") up to $ 250,000 (D) Inventories The Company’s inventories consist of raw materials, work in process and finished goods, both purchased and manufactured. Inventories are stated at the lower of cost or net realizable value. Cost is determined on the first-in, first-out basis. Raw materials inventory consists of basalt fiber and other necessary elements to produce the basalt rebar. On a quarterly basis, the Company analyzes its inventory levels and records allowances for inventory that has become obsolete and inventory that has a cost basis in excess of the expected net realizable value. The Company had no inventory as of September 30, 2024, and December 31, 2023. (E) Fixed assets Fixed assets consist of the following: Schedule of fixed assets September 30, December 31, 2024 2023 Computer equipment $ 69,221 $ 203,193 Machinery 728,245 728,245 797,466 931,438 Accumulated depreciation (621,585 ) (529,167 ) $ 175,881 $ 402,271 Depreciation expense for the three and nine months ended September 30, 2024, was $ 28,855 91,639 31,962 100,670 (F) Deposits and other current assets The Company’s deposits and other current assets consist of the deposits made on equipment, security deposits, utility deposits and other receivables. The deposits are reclassified as part of the fixed asset cost when received and placed into service. (G) Loss Per Share The basic loss per share is calculated by dividing the Company's net loss available to common shareholders by the weighted average number of common shares during the period. The diluted loss per share is calculated by dividing the Company's net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The following are potentially dilutive shares not included in the loss per share computation: Schedule of dilutive shares not included in the loss per share computation September 30, December 31, 2024 2023 Options 1,277,778 1,477,778 Warrants 121,552,663 125,295,757 Convertible securities 8,016,068 8,016,068 Total 130,846,509 134,789,603 (H) Stock-Based Compensation The Company recognizes compensation costs to employees under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, Compensation – Stock Compensation. Under FASB ASC Topic 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the grant. The Company recognized $ 0 15,000 (I) Revenue Recognition We recognize revenue when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration we expected to be entitled to in exchange for those goods or services. The timing of revenue recognition largely is dependent on shipping terms. Revenue is recorded at the time of shipment for terms designated free on board (“FOB”) shipping point. For sales transactions designated FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site. All revenues recognized are net of trade allowances, cash discounts, and sales returns. Trade allowances are based on the estimated obligations. Adjustments to earnings resulting from revisions to estimates on discounts and returns have been immaterial for each of the reported periods. Shipping and handling amounts billed to a customer as part of a sales transaction are included in revenues, and the related costs are included in the cost of goods sold. Shipping and handling is treated as a fulfillment activity, rather than a promised service, and therefore is not considered a separate performance obligation. During the three and nine months ended September 30, 2024 and 2023, the Company incurred shipping and handling costs in the amount of $ 0 551 350 9,221

OPERATING LEASE

OPERATING LEASE	9 Months Ended
	Sep. 30, 2024
Operating Lease
OPERATING LEASE	NOTE 3 – OPERATING LEASE On January 18, 2019, the Company entered into an agreement to lease approximately 25,470 square feet of office and manufacturing space in Pompano Beach, Florida through March 2024. On March 25, 2019, the Company entered into an amendment to the agreement to increase the square footage of leased premises to 36,900 square feet, increasing the Company’s base rent obligation to be approximately $ 33,825 On December 31, 2022, the Company vacated the lease, as of this filing the Company has not entered into a new commercial lease for a manufacturing facility. The Company is actively engaged in a nationwide search to secure a manufacturing facility. On January 1, 2023, the Company entered into an agreement to lease approximately 1,500 square feet of temporary office and manufacturing space. The lease concludes on December 31, 2024. The Company has the ability to extend the lease for an additional of twelve months. For the three and six months ended September 30, 2024, the Company expensed $ 3,000 9,000 0

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE Notes payable totaled $ 270,000 299,458 On April 2, 2021, the Company issued a promissory note with an investor in exchange for $ 200,000 18% 2,000,000 0.20 5 April 2, 2025 On April 9, 2021, the Company issued a promissory note with an investor in exchange for $ 50,000 18% 500,000 0.20 5 April 9, 2025 On April 16, 2021, the Company issued a promissory note with an investor in exchange for $ 20,000 18% 250,000 0.25 5 April 16, 2025 During the three and nine months ended September 30, 2024, the Company made principal payments in the amount of $ 0 Interest expense for the Company’s notes payable for the three and nine months ended September 30, 2024 was $ 20,100 57,233 17,051 34,102 Accrued interest for the Company’s notes payable on September 30, 2024 and December 31, 2023 was $ 216,864 159,630

NOTES PAYABLE _ RELATED PARTY

NOTES PAYABLE – RELATED PARTY	9 Months Ended
	Sep. 30, 2024
Notes Payable Related Party
NOTES PAYABLE – RELATED PARTY	NOTE 5 – NOTES PAYABLE – RELATED PARTY Notes payable - related party totaled $ 2,028,000 1,750,000 On January 16, 2020, the Company entered into a demand note agreement with our Board Chairman, Michael V. Barbera, in the amount of $ 50,000 10% 12% On April 2, 2021, the Company issued a promissory note with Paul Sallarulo, a member of our Board of Directors, in exchange for $ 150,000 18% October 2, 2022 1,500,000 0.20 5 April 1, 2024 On April 2, 2021, the Company issued a promissory note with Michael V. Barbera, our Chairman of the Board, in exchange for $ 150,000 18% October 2, 2022 1,500,000 0.20 5 April 1, 2024 On August 31, 2022, the Company issued a promissory note to a board member in exchange for $ 37,000 10% August 31, 2024 On August 22, 2022, the Company issued a promissory note to a board member in exchange for $ 20,000 10% August 22, 2024 On August 22, 2022, the Company issued a promissory note to a board member in exchange for $ 5,000 10% August 22, 2024 On August 29, 2022, the Company issued a promissory note to a board member in exchange for $ 25,000 10% August 29, 2024 On August 29, 2022, the Company issued a promissory note to a board member in exchange for $ 10,000 10% August 29, 2024 On August 31, 2022, the Company issued a promissory note to a board member in exchange for $ 13,000 10% August 31, 2024 On September 9, 2022, the Company issued a promissory note to a board member in exchange for $ 60,000 10% August 16, 2024 On September 9, 2022, the Company issued a promissory note to a board member in exchange for $ 10,000 10% September 9, 2024 On September 9, 2022, the Company issued a promissory note to a strategic partner in exchange for $ 10,000 10% September 9, 2024 On September 9, 2022, the Company issued a promissory note to a strategic partner in exchange for $ 15,000 10% September 9, 2024 On September 9, 2022, the Company issued a promissory note to an investor and advisor to the board, in exchange for $ 15,000 10% September 9, 2024 On September 22, 2022, the Company issued a promissory note to a board member in exchange for $ 42,500 18% September 22, 2024 On February 14, 2023, the Company issued a promissory note to a board member in exchange for $ 10,000 20% February 13, 2024 On February 24, 2023, the Company issued a promissory note to a board member in exchange for $ 50,000 20% February 23, 2024 On March 3, 2023, the Company issued a promissory note to a board member in exchange for $ 15,000 20% March 2, 2024 On March 24, 2023, the Company issued a promissory note to a board member in exchange for $ 15,000 20% March 23, 2024 On April 12, 2023, the Company issued a promissory note to a board member in exchange for $ 150,000 20% April 11, 2024 On April 28, 2023, the Company issued a promissory note to a board member in exchange for $ 100,000 20% April 27, 2024 On May 12, 2023, the Company issued a promissory note to a board member in exchange for $ 100,000 20% May 11, 2024 On June 5, 2023, the Company issued a promissory note to a board member in exchange for $ 100,000 20% June 4, 2024 On July 25, 2023, the Company issued a promissory note to a board member in exchange for $ 200,000 20% July 24, 2024 On September 11, 2023, the Company issued a promissory note to a board member in exchange for $ 150,000 20% September 10, 2024 On September 11, 2023, the Company issued a promissory note to an advisor to the board in exchange for $ 50,000 20% September 10, 2024 On November 2, 2023, the Company issued a promissory note to a board member in exchange for $ 100,000 20% November 1, 2024 On December 12, 2023, the Company issued a promissory note to a board member in exchange for $ 75,000 20% December 11, 2024 On January 9, 2024, the Company issued a promissory note to a board member in exchange for $ 23,000 20% January 8, 2025 On March 6, 2024, the Company issued a promissory note to a board member in exchange for $ 40,000 20% March 5, 2025 On March 21, 2024, the Company issued a promissory note to a board member in exchange for $ 15,000 20% March 20, 2025 On May 12, 2024, the Company issued a promissory note to a board member in exchange for $ 25,000 20% May 11, 2025 On June 26, 2024, the Company issued a promissory note to a board member in exchange for $ 100,000 20% June 25, 2025 On August 13, 2024, the Company issued a promissory note to a board member in exchange for $ 25,000 20% August 12, 2025 On September 6, 2024, the Company issued a promissory note to a board member in exchange for $ 50,000 20% September 5, 2025 Interest expense for the Company’s notes payable – related party for the three and nine months ended September 30, 2024, was $ 109,503 297,720 Interest expense for the Company’s notes payable – related party for the three and nine months ended September 30, 2023, was $ 55,167 113667 Accrued interest for the Company’s notes payable - related party on September 30, 2024, and December 31, 2023, was $ 1,694,362 997,284

NOTES PAYABLE _ CONVERTIBLE _ R

NOTES PAYABLE – CONVERTIBLE – RELATED PARTY	9 Months Ended
	Sep. 30, 2024
Notes Payable Convertible Related Party
NOTES PAYABLE – CONVERTIBLE – RELATED PARTY	NOTE 6 – NOTES PAYABLE – CONVERTIBLE – RELATED PARTY Convertible Notes payable – related party totaled $ 2,144,357 On August 3, 2020, the Company issued a secured convertible promissory note to certain investors in exchange for $ 1,000,000 20% 750,000 On February 12, 2021, the Company exchanged the original debt for a newly issued amended and restated secured convertible promissory note with a new principal balance of $ 1,610,005 20% 3 1,000,000 110,005 5 15,000,000 0.20 3,686,123 On May 12, 2021, the Company extended the debt for a newly issued amended and restated secured convertible promissory note with a new principal balance of $ 1,689,746 20% 1,610,005 79,742 5 7,500,000 0.35 1,874,705 On September 15, 2022, the Company extended the debt for a newly issued amended and restated secured convertible promissory note with a new principal balance of $ 2,027,695 20% 1,689,746 454,612 Interest expense for the Company’s convertible notes payable – related parties for the three and nine months ended September 30, 2024, was $ 107,218 321,654 Interest expense for the Company’s convertible notes payable – related parties for the three and nine months ended September 30, 2023, was $ 107,218 426,859 Accrued interest for the Company’s convertible notes payable – related parties on September 30, 2024 and December 31, 2023, was $ 883,254 554,595

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7 – COMMITMENTS AND CONTINGENCIES The Company is the obligor under certain promissory notes that are currently past due (although formal events of default have not been declared). See notes 4 and 5. The Company is presently in default of its obligations under the terms of the Company’s private placement which closed in August 2021 to file a registration statement for an underwritten public offering and concurrently listing on a national stock exchange. As a result, the Company is required to pay liquidated damages in the amount of $ 53,345 480,000 On August 17, 2021, the Company conducted the closing of a private placement offering to accredited investors of the Company’s units at a price of $0.275 per unit, with each unit consisting of: (i) one share of the Company’s common stock, (ii) a five-year, immediately exercisable warrant (“Warrant A”) to purchase one share of common stock at an exercise price of $0.33 per share and (iii) an additional five-year, immediately exercisable warrant to purchase one share of common stock at an exercise price of $0.33 per share (“Warrant B”). The Warrant A and Warrant B are identical, except that the Warrant B has a call feature in favor of the Company, as defined in the offering agreements. In connection with the closing, the Company entered into definitive securities purchase agreements with 19 accredited investors and issued an aggregate of 19,398,144 shares of common stock, Warrant A to purchase up to an aggregate of 19,398,144 shares of common stock, and Warrant B to purchase up to an aggregate of 19,398,144 shares of Common Stock (for an aggregate of 38,796,288 Warrant Shares), for aggregate gross proceeds to the Company of approximately $5,334,490. Costs of the offering in the amount of $611,603 were charged to additional paid in capital. As of December 31, 2022, the Company also accrued the amount of $386,759 as liquidated damages due to the investors in the Company’s August 2021 private placement, such liquidated damages being related to the Company’s failure to timely file a registration statement on Form S-1 for an underwritten public offering and concurrent listing of the Common Stock on a national exchange.

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 8 – STOCKHOLDERS’ DEFICIT During the three and nine months ended September 30, 2024, the Company issued 0

OPTIONS AND WARRANTS

OPTIONS AND WARRANTS	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
OPTIONS AND WARRANTS	NOTE 9 – OPTIONS AND WARRANTS Stock Options: The following table provides the activity in options for the respective periods: Schedule of option activity Total Options Weighted Average Aggregate Intrinsic Outstanding Exercise Price Value Balance at January 1, 2023 1,477,778 0.27 $ — Issued — 0.27 — Cancelled / Expired — 0.27 — Balance at December 31, 2023 1,477,778 $ 0.27 $ — Exercised — 0.27 — Cancelled / Expired (2,000,000 ) 0.27 — Balance at September 30, 2024 1,277,778 $ 0.27 $ — Options exercisable and outstanding at September 30, 2024 are as follows: Schedule of options exercisable and outstanding Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Aggregate Intrinsic Value $ 0.01 0.50 1,277,778 2.14 $ 0.27 — See note 8. Stock Warrants The following table provides the activity in warrants for the respective periods: Schedule of warrants activity Total Weighted Average Aggregate Intrinsic Warrants Exercise Price Value Balance at January 1, 2023 139,555,757 $ 0.29 $ 150,667 Granted 2,000,000 0.29 — Exercised — 0.29 — Cancelled (16,260,000 ) — — Balance at December 31, 2023 125,295,757 $ 0.29 $ 135,272 Cancelled (3,743,094 ) 0.30 — Balance at September 30, 2024 121,552,663 $ 0.30 $ 39,443 Warrants exercisable and outstanding at September 30, 2024 are as follows: Schedule of warrants exercisable and outstanding Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Aggregate Intrinsic Value $ 0.01 0.50 121,552,663 2.21 $ 0.30 $ 39,443 $ 0.51 1.00 — 0.85 $ 0.60 — 121,552,663 $ 39,443

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS On July 30, 2024, Basanite Industries, Inc. (the “Company”) received a notice from OTC Markets Group Inc. (the “OTCQB”) indicating that the Company is not in compliance with certain OTCQB continued listing standards. Specifically, the Company has been informed that it does not meet the financial reporting requirements necessary to maintain its listing on the OTCQB market. The notice indicates that the Company must cure the deficiencies outlined in the notice by October 28, 2024, to avoid being removed from the OTCQB marketplace. The specific deficiencies cited by the OTCQB include: 1. Failure to Meet Minimum Bid Price: The Company's common stock has not maintained the minimum bid price required by OTCQB standards. The Company is actively working to address these issues and is committed to regaining compliance within the specified time frame. The Company's management team is working on a plan to rectify the deficiencies. This plan may include, if necessary, a reverse split of the Company's common stock. Any such reverse split would reduce the Company’s authorized common shares proportionally with the issue and outstanding common shares. The Company can make no assurance or guarantee that it will be successful in its efforts. In October 2024, the Company granted three advisors to the Company and its Interim Chief Executive Officer options to purchase an aggregate of 25,000,000 .0275 A description of the 5,000,000 options granted to the Company’s Interim Chief Executive Officer is described under Item 5.02. One of the three advisors received five-year options to purchase 10,000,000 common shares which vest 3,000,000 on October 2, 2024, 3,000,000 which vest upon the completion of $1 million of aggregate financing and an additional 4,000,000 upon the anniversary of the first 90-day period that the Company achieves operational break even as defined in the Advisory Agreement. A second advisor received five-year options to purchase 2,500,000 shares which vest 1,250,000 shares on October 2, 2024, and the remaining 1,250,000 options vest upon the completion of a minimum of $1,000,000 of aggregate financing into the Company. The third advisor received five-year options to purchase 7,500,000 shares which vest 3,750,000 shares on October 2, 2024 and the remaining 3,750,000 options vest upon the completion of a minimum of $1,000,000 of aggregate financing into the Company. On October 2, 2024, Ali Manav agreed to become the Acting Chief Executive Officer of Basanite, Inc. (the “Company”) through June 30, 2025. As an independent contractor, Mr. Manav has been performing advisory services to our Company since September 1, 2024. Mr. Manav’s services to the Company will be at a monthly fee of $17,250 plus expenses approved by the Chairman. The monthly fee of $17,250 will be deferred and accrued until such time as $1,000,000 is raised by the Company and at which time any deferred compensation will be paid immediately to him. Upon $1,000,000 being raised by the Company, the Company will also pay Mr. Manav his monthly fee on the first day of each month through June 2025. Mr. Manav also received options to purchase 5 million shares of the Company’s common stock with a strike price of $.0275 equal to the closing price of the Company’s common stock as quoted by the OTCQB Market on the date of signing his engagement letter. The option will have a term of five years from the date of issuance. The options will also contain standard cashless exercise provisions as well as piggy-back registration rights for future stock registrations that the Company may file. The options vest under the following schedule: 1.5 million options immediately upon the execution of his engagement agreement, 1.5 million options vest upon the completion of a minimum of $1 million of aggregate financing into the Company after the date of his engagement letter and 2 million options vesting upon the anniversary of the first 90-day period the Company achieves operational break even as defined in the engagement letter. Mr. Manav received $25,000 upon execution of the engagement letter for work conducted in September of 2024. As an independent contractor, Mr. Manav is not entitled to receive any employee benefits. The engagement letter will automatically terminate no later than June 30, 2025, unless the Company and Mr. Manav mutually agree on an extension. On October 2, 2024, Steve Heard agreed to become an advisor to the Board of Directors of Basanite, Inc. (the “Company”) through June 30, 2025. As an independent contractor, Mr. Heard will advise the Board of Directors and Management of the Company on matters relating to capital markets, investor relations, and business development and introduce potential strategic partners and investors to the Company. The monthly fee of $12,500 will be deferred and accrued until such time as $1,000,000 is raised by the Company and which time any deferred compensation will be paid immediately to him. Upon $1,000,000 being raised by the Company, the Company will also pay Mr. Heard his monthly fee on the first day of each month through June 2025. Mr. Heard also received options to purchase 2.5 million shares of the Company’s common stock with a strike price of $.0275 equal to the closing price of the Company’s common stock as quoted by the OTCQB Market on the date of signing his engagement letter. The option will have a term of five years from the date of issuance. The options will also contain standard cashless exercise provisions as well as piggy-back registration rights for future stock registrations that the Company may file. The options vest under the following schedule: 1.25 million options immediately upon the execution of his engagement agreement, 1.25 million options vest upon the completion of a minimum of $1 million of aggregate financing into the Company after the date of his engagement letter. As an independent contractor, Mr. Heard is not entitled to receive any employee benefits. The engagement letter will automatically terminate no later than June 30, 2025 unless the Company and Mr. Heard mutually agree on an extension. On October 2, 2024, Maxwell J. Heard agreed to become an advisor to the Board of Directors of Basanite, Inc. (the “Company”) through June 30, 2025. As an independent contractor, Mr. Heard will advise the Board of Directors and Management of the Company on matters relating to capital markets, investor relations, and business development and introduce potential strategic partners and investors to the Company. The monthly fee of $12,500 will be deferred and accrued until such time as $1,000,000 is raised by the Company and which time any deferred compensation will be paid immediately to him. Upon $1,000,000 being raised by the Company, the Company will also pay Mr. Heard his monthly fee on the first day of each month through June 2025. Mr. Heard also received options to purchase 2.5 million shares of the Company’s common stock with a strike price of $.0275 equal to the closing price of the Company’s common stock as quoted by the OTCQB Market on the date of signing his engagement letter. The option will have a term of five years from the date of issuance. The options will also contain standard cashless exercise provisions as well as piggy-back registration rights for future stock registrations that the Company may file. The options vest under the following schedule: 1.25 million options immediately upon the execution of his engagement agreement, 1.25 million options vest upon the completion of a minimum of $1 million of aggregate financing into the Company after the date of his engagement letter. As an independent contractor, Mr. Heard is not entitled to receive any employee benefits. The engagement letter will automatically terminate no later than June 30, 2025 unless the Company and Mr. Heard mutually agree on an extension. Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in these statements. These risks and uncertainties include, but are not limited to, the ability of the Company to file its Quarterly Report on Form 10-Q in a timely manner, the Company's ability to maintain compliance with OTCQB continued listing standards, and other factors described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, except as required by law.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Use of Estimates in Financial Statements	(A) Use of Estimates in Financial Statements The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Stock-based compensation and stock awards related to convertible debt instruments are recognized based on the fair value of the awards granted. The fair value of each award or conversion feature is typically estimated on the grant date using the Black-Scholes pricing model. The Black-Scholes pricing model requires the input of highly subjective assumptions, including the fair value of the underlying Common Stock, the expected term of the option, the expected volatility of the price of our Common Stock, risk-free interest rates and the expected dividend yield of our Common Stock. The assumptions used to determine the fair value of the stock awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The Company used the Black Scholes valuation model to determine the fair value of the warrants and options issued, using the following key assumptions for the three and six months ended September 30, 2024, and 2023, respectively: Schedule of fair value assumptions of warrants and options issued Nine months ended September 30, 2024 Nine months ended September 30, 2023 Expected price volatility — % — % Risk-free interest rate — — Expected life in years — — Dividend yield — —
Principles of Consolidation	(B) Principles of Consolidation The condensed consolidated financial statements include the accounts of Basanite, Inc. and its wholly owned subsidiaries, Basanite Industries, LLC and Basalt America, LLC. All intercompany balances have been eliminated in consolidation. The Company’s operations are conducted primarily through Basanite Industries, LLC. Basalt America, LLC is currently inactive.
Cash	(C) Cash The Company considers all highly liquid temporary cash instruments with an original maturity of three months or less to be cash equivalents. The Company places its cash, cash equivalents and restricted cash on deposit with financial institutions in the United States, which are insured by the Federal Deposit Insurance Company “("FDIC") up to $ 250,000
Inventories	(D) Inventories The Company’s inventories consist of raw materials, work in process and finished goods, both purchased and manufactured. Inventories are stated at the lower of cost or net realizable value. Cost is determined on the first-in, first-out basis. Raw materials inventory consists of basalt fiber and other necessary elements to produce the basalt rebar. On a quarterly basis, the Company analyzes its inventory levels and records allowances for inventory that has become obsolete and inventory that has a cost basis in excess of the expected net realizable value. The Company had no inventory as of September 30, 2024, and December 31, 2023.
Fixed assets	(E) Fixed assets Fixed assets consist of the following: Schedule of fixed assets September 30, December 31, 2024 2023 Computer equipment $ 69,221 $ 203,193 Machinery 728,245 728,245 797,466 931,438 Accumulated depreciation (621,585 ) (529,167 ) $ 175,881 $ 402,271 Depreciation expense for the three and nine months ended September 30, 2024, was $ 28,855 91,639 31,962 100,670
Deposits and other current assets	(F) Deposits and other current assets The Company’s deposits and other current assets consist of the deposits made on equipment, security deposits, utility deposits and other receivables. The deposits are reclassified as part of the fixed asset cost when received and placed into service.
Loss Per Share	(G) Loss Per Share The basic loss per share is calculated by dividing the Company's net loss available to common shareholders by the weighted average number of common shares during the period. The diluted loss per share is calculated by dividing the Company's net loss by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The following are potentially dilutive shares not included in the loss per share computation: Schedule of dilutive shares not included in the loss per share computation September 30, December 31, 2024 2023 Options 1,277,778 1,477,778 Warrants 121,552,663 125,295,757 Convertible securities 8,016,068 8,016,068 Total 130,846,509 134,789,603
Stock-Based Compensation	(H) Stock-Based Compensation The Company recognizes compensation costs to employees under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, Compensation – Stock Compensation. Under FASB ASC Topic 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the grant. The Company recognized $ 0 15,000
Revenue Recognition	(I) Revenue Recognition We recognize revenue when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration we expected to be entitled to in exchange for those goods or services. The timing of revenue recognition largely is dependent on shipping terms. Revenue is recorded at the time of shipment for terms designated free on board (“FOB”) shipping point. For sales transactions designated FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site. All revenues recognized are net of trade allowances, cash discounts, and sales returns. Trade allowances are based on the estimated obligations. Adjustments to earnings resulting from revisions to estimates on discounts and returns have been immaterial for each of the reported periods. Shipping and handling amounts billed to a customer as part of a sales transaction are included in revenues, and the related costs are included in the cost of goods sold. Shipping and handling is treated as a fulfillment activity, rather than a promised service, and therefore is not considered a separate performance obligation. During the three and nine months ended September 30, 2024 and 2023, the Company incurred shipping and handling costs in the amount of $ 0 551 350 9,221

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of fair value assumptions of warrants and options issued	Schedule of fair value assumptions of warrants and options issued Nine months ended September 30, 2024 Nine months ended September 30, 2023 Expected price volatility — % — % Risk-free interest rate — — Expected life in years — — Dividend yield — —
Schedule of fixed assets	Schedule of fixed assets September 30, December 31, 2024 2023 Computer equipment $ 69,221 $ 203,193 Machinery 728,245 728,245 797,466 931,438 Accumulated depreciation (621,585 ) (529,167 ) $ 175,881 $ 402,271
Schedule of dilutive shares not included in the loss per share computation	Schedule of dilutive shares not included in the loss per share computation September 30, December 31, 2024 2023 Options 1,277,778 1,477,778 Warrants 121,552,663 125,295,757 Convertible securities 8,016,068 8,016,068 Total 130,846,509 134,789,603

OPTIONS AND WARRANTS (Tables)

OPTIONS AND WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of option activity	Schedule of option activity Total Options Weighted Average Aggregate Intrinsic Outstanding Exercise Price Value Balance at January 1, 2023 1,477,778 0.27 $ — Issued — 0.27 — Cancelled / Expired — 0.27 — Balance at December 31, 2023 1,477,778 $ 0.27 $ — Exercised — 0.27 — Cancelled / Expired (2,000,000 ) 0.27 — Balance at September 30, 2024 1,277,778 $ 0.27 $ —
Schedule of warrants activity	Schedule of options exercisable and outstanding Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Aggregate Intrinsic Value $ 0.01 0.50 1,277,778 2.14 $ 0.27 — See note 8. Stock Warrants The following table provides the activity in warrants for the respective periods: Schedule of warrants activity Total Weighted Average Aggregate Intrinsic Warrants Exercise Price Value Balance at January 1, 2023 139,555,757 $ 0.29 $ 150,667 Granted 2,000,000 0.29 — Exercised — 0.29 — Cancelled (16,260,000 ) — — Balance at December 31, 2023 125,295,757 $ 0.29 $ 135,272 Cancelled (3,743,094 ) 0.30 — Balance at September 30, 2024 121,552,663 $ 0.30 $ 39,443
Schedule of warrants activity	Schedule of warrants activity Total Weighted Average Aggregate Intrinsic Warrants Exercise Price Value Balance at January 1, 2023 139,555,757 $ 0.29 $ 150,667 Granted 2,000,000 0.29 — Exercised — 0.29 — Cancelled (16,260,000 ) — — Balance at December 31, 2023 125,295,757 $ 0.29 $ 135,272 Cancelled (3,743,094 ) 0.30 — Balance at September 30, 2024 121,552,663 $ 0.30 $ 39,443
Schedule of warrants exercisable and outstanding	Schedule of warrants exercisable and outstanding Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Aggregate Intrinsic Value $ 0.01 0.50 121,552,663 2.21 $ 0.30 $ 39,443 $ 0.51 1.00 — 0.85 $ 0.60 — 121,552,663 $ 39,443

ORGANIZATION, NATURE OF BUSIN_2

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN (Details Narrative) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 57.3	$ 56.3
Working capital deficiency	8.8	$ 7.1
Cash used in operations	$ 1.1

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Expected price volatility	0%	0%
Risk-free interest rate	0%	0%
Dividend yield	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 797,466	$ 931,438
Accumulated depreciation	(621,585)	(529,167)
Total fixed assets, net	175,881	402,271
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	69,221	203,193
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 728,245	$ 728,245

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in loss per share computation	130,846,509	134,789,603
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in loss per share computation	1,277,778	1,477,778
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in loss per share computation	121,552,663	125,295,757
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in loss per share computation	8,016,068	8,016,068

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Cash FDIC insured amount	$ 250,000		$ 250,000
Depreciation expense	28,855	$ 31,962	91,639	$ 100,670
Stock-Based Compensation	0		15,000	97,205
Shipping and handling costs	$ 0	$ 350	$ 551	$ 9,221

OPERATING LEASE (Details Narrat

OPERATING LEASE (Details Narrative) - USD ($)		3 Months Ended	9 Months Ended
	Mar. 25, 2019	Sep. 30, 2024	Sep. 30, 2024
Operating Lease
Base rent obligation	$ 33,825
Rent expenses		$ 3,000	$ 9,000
Rent payments		$ 0	$ 0

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)				3 Months Ended		9 Months Ended
	Apr. 16, 2021	Apr. 09, 2021	Apr. 02, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Notes payable				$ 270,000		$ 270,000		$ 299,458
Principal payments amount				0		0
Interest expense				20,100	$ 17,051	57,233	$ 34,102
Accrued interest				$ 216,864		$ 216,864		$ 159,630
Common Stock Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Debt principal amount	$ 20,000	$ 50,000	$ 200,000
Interest rate	18%	18%	18%
Common stock warrants issued	250,000	500,000	2,000,000
Warrants exercise price	$ 0.25	$ 0.20	$ 0.20
Debt instrument, term	5 years	5 years	5 years
Maturity date	Apr. 16, 2025	Apr. 09, 2025	Apr. 02, 2025

NOTES PAYABLE _ RELATED PARTY (

NOTES PAYABLE – RELATED PARTY (Details Narrative) - USD ($)																											3 Months Ended		9 Months Ended
	Sep. 06, 2024	Aug. 13, 2024	Jun. 26, 2024	May 12, 2024	Mar. 21, 2024	Mar. 06, 2024	Jan. 09, 2024	Dec. 12, 2023	Nov. 02, 2023	Sep. 11, 2023	Jun. 25, 2023	Jun. 05, 2023	May 12, 2023	Apr. 28, 2023	Apr. 12, 2023	Mar. 24, 2023	Mar. 03, 2023	Feb. 24, 2023	Feb. 14, 2023	Sep. 22, 2022	Sep. 09, 2022	Aug. 31, 2022	Aug. 29, 2022	Aug. 22, 2022	Apr. 02, 2022	Apr. 02, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Apr. 13, 2020	Jan. 16, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Notes payable - related party																											$ 2,028,000		$ 2,028,000		$ 1,750,000
Interest expense																											109,503	$ 55,167	297,720	$ 113,667
Accrued interest																											$ 1,694,362		$ 1,694,362		$ 997,284
Promissory Note [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount	$ 50,000	$ 25,000	$ 100,000	$ 25,000	$ 15,000	$ 40,000	$ 23,000	$ 75,000	$ 100,000	$ 150,000	$ 200,000	$ 100,000	$ 100,000	$ 100,000	$ 150,000	$ 15,000	$ 15,000	$ 50,000	$ 10,000	$ 42,500	$ 60,000	$ 37,000	$ 25,000	$ 20,000
Interest rate	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	20%	18%	10%	10%	10%	10%
Maturity date	Sep. 05, 2025	Aug. 12, 2025	Jun. 25, 2025	May 11, 2025	Mar. 20, 2025	Mar. 05, 2025	Jan. 08, 2025	Dec. 11, 2024	Nov. 01, 2024	Sep. 10, 2024	Jul. 24, 2024	Jun. 04, 2024	May 11, 2024	Apr. 27, 2024	Apr. 11, 2024	Mar. 23, 2024	Mar. 02, 2024	Feb. 23, 2024	Feb. 13, 2024	Sep. 22, 2024	Aug. 16, 2024	Aug. 31, 2024	Aug. 29, 2024	Aug. 22, 2024
Promissory Note 1 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount										$ 50,000											$ 10,000	$ 13,000	$ 10,000	$ 5,000
Interest rate										20%											10%	10%	10%	10%
Maturity date										Sep. 10, 2024											Sep. 09, 2024	Aug. 31, 2024	Aug. 29, 2024	Aug. 22, 2024
Promissory Note 2 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount																					$ 10,000
Interest rate																					10%
Maturity date																					Sep. 09, 2024
Promissory Note 3 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount																					$ 15,000
Interest rate																					10%
Maturity date																					Sep. 09, 2024
Promissory Note 4 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount																					$ 15,000
Interest rate																					10%
Maturity date																					Sep. 09, 2024
Michael V Barbera [Member] | Promissory Note [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount																										$ 150,000							$ 50,000
Interest rate																										18%						12%	10%
Maturity date																									Apr. 01, 2024	Oct. 02, 2022
Issuance of shares																										1,500,000
Paul Sallarulo [Member] | Promissory Note [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Face amount																										$ 150,000
Interest rate																										18%
Maturity date																									Apr. 01, 2024	Oct. 02, 2022
Issuance of shares																										1,500,000
Warrants exercise price																									$ 0.20	$ 0.20
Debt instrument, term																									5 years	5 years

NOTES PAYABLE _ CONVERTIBLE __2

NOTES PAYABLE – CONVERTIBLE – RELATED PARTY (Details Narrative) - USD ($)					3 Months Ended		9 Months Ended
	Sep. 15, 2022	May 12, 2021	Feb. 12, 2021	Aug. 03, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Short-Term Debt [Line Items]
Convertible notes payable, related party					$ 2,144,357		$ 2,144,357		$ 2,144,357
Loss on extinguishment
Secured Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Interest rate	20%
Debt principal amount	$ 2,027,695
The original principal	1,689,746
Accrued interest paid	$ 454,612
Convertible Note Payable [Member]
Short-Term Debt [Line Items]
Interest expense					107,218	$ 107,218	321,654	$ 426,859
Accrued interest					$ 883,254		$ 883,254		$ 554,595
Convertible Promissory Note Investors [Member]
Short-Term Debt [Line Items]
Proceeds from convertible debt				$ 1,000,000
Interest rate		20%	20%	20%
Debt principal amount		$ 1,689,746	$ 1,610,005	$ 750,000
Debt Instrument, Term			3 months
The original principal		1,610,005	$ 1,000,000
Accrued interest paid		$ 79,742	$ 110,005
Warrants term		5 years	5 years
Issued to the noteholders		7,500,000	15,000,000
Exercise price		$ 0.35	$ 0.20
Loss on extinguishment		$ 1,874,705	$ 3,686,123

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Liquidated damages	$ 480,000	$ 53,345
Definitive securities purchase agreements, description	the Company entered into definitive securities purchase agreements with 19 accredited investors and issued an aggregate of 19,398,144 shares of common stock, Warrant A to purchase up to an aggregate of 19,398,144 shares of common stock, and Warrant B to purchase up to an aggregate of 19,398,144 shares of Common Stock (for an aggregate of 38,796,288 Warrant Shares), for aggregate gross proceeds to the Company of approximately $5,334,490. Costs of the offering in the amount of $611,603 were charged to additional paid in capital. As of December 31, 2022, the Company also accrued the amount of $386,759 as liquidated damages due to the investors in the Company’s August 2021 private placement, such liquidated damages being related to the Company’s failure to timely file a registration statement on Form S-1 for an underwritten public offering and concurrent listing of the Common Stock on a national exchange.

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Common Stock [Member] | Former Chief Executive Officer [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued for cash	0	0

OPTIONS AND WARRANTS (Details)

OPTIONS AND WARRANTS (Details) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Offsetting Assets [Line Items]
Weighted Average Exercise Price, Exercised	$ 0.0275
Equity Option [Member]
Offsetting Assets [Line Items]
Outstanding at beginning	1,277,778	1,477,778	1,477,778
Weighted Average Exercise Price, Beginning	$ 0.27	$ 0.27	$ 0.27
Aggregate Intrinsic Value, Beginning
Issued
Weighted Average Exercise Price, Issued			$ 0.27
Cancelled / Expired		(2,000,000)
Weighted Average Exercise Price, Cancelled / Expired		$ 0.27	$ 0.27
Exercised
Weighted Average Exercise Price, Exercised		$ 0.27
Outstanding at ending		1,277,778	1,477,778
Weighted Average Exercise Price, Ending		$ 0.27	$ 0.27
Aggregate Intrinsic Value, Ending

OPTIONS AND WARRANTS (Details 1

OPTIONS AND WARRANTS (Details 1) - Equity Option [Member] - $0.01 - $0.50 [Member]	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Offsetting Assets [Line Items]
Range of Exercise Prices, Lower	$ 0.01
Range of Exercise Prices, Upper	$ 0.50
Number Outstanding | shares	1,277,778
Weighted Average Remaining Contractual Life (Years)	2 years 1 month 20 days
Weighted Average Exercise Price	$ 0.27
Average Intrinsic Value | $

OPTIONS AND WARRANTS (Details 2

OPTIONS AND WARRANTS (Details 2) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Exercise Price, Exercised	$ 0.0275
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning	121,552,663	125,295,757	139,555,757
Weighted Average Exercise Price, Beginning	$ 0.30	$ 0.29	$ 0.29
Aggregate Intrinsic Value, Beginning	$ 39,443	$ 135,272	$ 150,667
Warrants granted			2,000,000
Weighted Average Exercise Price, Granted			$ 0.29
Warrant exercised
Weighted Average Exercise Price, Exercised			$ 0.29
Warrant Cancelled		(3,743,094)	(16,260,000)
Weighted Average Exercise Price, Cancelled		$ 0.30
Outstanding at ending		121,552,663	125,295,757
Weighted Average Exercise Price, Ending		$ 0.30	$ 0.29
Aggregate Intrinsic Value, Ending		$ 39,443	$ 135,272

OPTIONS AND WARRANTS (Details 3

OPTIONS AND WARRANTS (Details 3) - Warrant [Member]	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number Outstanding | shares	121,552,663
Aggregate Intrinsic Value | $	$ 39,443
$0.01 - $0.50 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Range of Exercise Prices, Lower	$ 0.01
Range of Exercise Prices, Upper	$ 0.50
Number Outstanding | shares	121,552,663
Weighted Average Remaining Contractual Life (Years)	2 years 2 months 15 days
Weighted Average Exercise Price	$ 0.30
Aggregate Intrinsic Value | $	$ 39,443
$0.51 - $1.00 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Range of Exercise Prices, Lower	$ 0.51
Range of Exercise Prices, Upper	$ 1
Number Outstanding | shares
Weighted Average Remaining Contractual Life (Years)	10 months 6 days
Weighted Average Exercise Price	$ 0.60
Aggregate Intrinsic Value | $

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
	Oct. 31, 2024 $ / shares shares
Subsequent Events [Abstract]
Number of options to purchase | shares	25,000,000
Exercise price | $ / shares	$ 0.0275
Option grant description	A description of the 5,000,000 options granted to the Company’s Interim Chief Executive Officer is described under Item 5.02. One of the three advisors received five-year options to purchase 10,000,000 common shares which vest 3,000,000 on October 2, 2024, 3,000,000 which vest upon the completion of $1 million of aggregate financing and an additional 4,000,000 upon the anniversary of the first 90-day period that the Company achieves operational break even as defined in the Advisory Agreement. A second advisor received five-year options to purchase 2,500,000 shares which vest 1,250,000 shares on October 2, 2024, and the remaining 1,250,000 options vest upon the completion of a minimum of $1,000,000 of aggregate financing into the Company. The third advisor received five-year options to purchase 7,500,000 shares which vest 3,750,000 shares on October 2, 2024 and the remaining 3,750,000 options vest upon the completion of a minimum of $1,000,000 of aggregate financing into the Company.