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| FORM 12b-25 |
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| NOTIFICATION OF LATE FILING |
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(Check one): |
| Form 10-K |
| Form 20-F |
| Form 11-K | ü | Form 10-Q |
| Form 10-D |
| Form N-CEN |
| Form N-CSR |
| For Period Ended: | June 30, 2021 | ||
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| Transition Report on Form 10-K | ||
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| Transition Report on Form 20-F | ||
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| Transition Report on Form 11-K | ||
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| Transition Report on Form 10-Q | ||
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| For the Transition Period Ended: |
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Read Instructions (on back page) Before Preparing Form. Please Print or Type. |
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. |
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: |
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PART I — REGISTRANT INFORMATION |
Basanite, Inc. |
Full Name of Registrant. |
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Former Name if Applicable |
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2041 NW 15th Ave. |
Address of Principal Executive Office (Street and Number) |
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Pompano Beach, Florida 33069 |
City, State and Zip Code |
PART II — RULES 12b-25(b) AND (c) |
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If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate) |
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| (a) | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
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ü | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and | ||
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| (c) | The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III — NARRATIVE |
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State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach extra Sheets if Needed) |
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Basanite, Inc. (the “Company”) was unable to file on a timely basis its 10-Q for the second quarter of 2021 ended June 30, 2021 on August 16, 2021 for the following reason(s): The Company was unable to timely file its 10-Q for the second quarter of 2021 ended June 30, 2021 as a result of the Company requiring additional time to produce and review the necessary financial statements with the Company’s auditor. Accordingly, the Company is unable to file the subject report in a timely manner because the Company was not able to complete timely its financial statements without unreasonable effort or expense. |
PART IV — OTHER INFORMATION |
(1) | Name and telephone number of person to contact in regard to this notification | ||||||||
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| Simon R. Kay |
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| 532-4653 | ||||
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(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). | ||||||||
Yes | ü | No |
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(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? | ||||||||
Yes |
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| If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. | ||||||||
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| Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 12b-25 contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. The above statements regarding the potential restatement of the Company’s financial statements for the Non-Reliance Period, as well as the effect of the revision on any subsequent periodic SEC filings, constitute forward-looking statements that are based on the Company’s current expectations. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause future events to differ materially from those in the forward-looking statements, many of which are outside of the Company’s control. These factors include, but are not limited to, a variety of risk factors affecting the Company’s business and prospects, see “Risk Factors” in the Company’s annual, quarterly reports and subsequent reports filed with the SEC, as amended from time to time. The Company does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements. | ||||||||
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Basanite, Inc. | ||||
(Name of Registrant as Specified in Charter) | ||||
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has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized. | ||||
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Date: | August 16, 2021 |
| By: | /s/ Simon R. Kay |
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| Simon R. Kay Chief Executive Officer |
