Basanite : Statement of Changes in Beneficial Ownership (Form 4)
June 07, 2022 at 04:22 pm EDT
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Ownership Submission
FORM 4
Check this box if no longer subject to Section 16, Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(**)
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(1)
On December 10, 2021, U.S. Supplies, Inc. ("U.S. Supplies") and Basanite, Inc. (the "Company") entered into certain agreements whereby U.S. Supplies has a right to sales commissions for distributions occurring in the United Mexican States (the "Sales Commissions"). In consideration and satisfaction of the Sales Commissions owed to U.S. Supplies, the Company issued U.S. Supplies shares of restricted common stock of the Company.
(2)
Mr. Rodriguez is the President of U.S. Supplies.
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PayMeOn Inc. published this content on 07 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2022 20:21:05 UTC.
Basanite, Inc., through its wholly owned subsidiary, Basanite Industries, LLC, manufactures a range of green, sustainable, non-corrosive, lightweight, composite products that are used in concrete reinforcement by the construction industry. The Companyâs core product includes BasaFlex, a basalt fiber-reinforced polymer (BFRP) reinforcing bar known as rebar. Its BasaMix products are fine denier basalt fibers available in various chopped sizes. BasaMix is designed to help absorb the stresses associated with early-aged plastic shrinkage and settlement cracking in concrete. BasaMix also serves as a system approach for optimum performance of a concrete element when used in conjunction with its BasaFlex rebar. Its BasaMesh is a line of Basalt Geogrid Mesh Rolls. 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.