Basanite Inc
basaltamerica.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Nov 25, 2025. Its latest SEC filing is a 15-12G from Jun 25, 2026.
10-Q for Q3 FY2025, filed Nov 25, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Makes basalt-fiber composite rebar, chopped fibers and mesh for concrete reinforcement used by construction firms, contractors and concrete producers.
10-K for FY2024, filed Mar 31, 2025Through our wholly owned subsidiary, Basanite Industries, LLC, a Delaware limited liability company (“BI”), we manufacture a range of…View ↗
Our two other main product lines are BasaMix™, which are fine denier basalt fibers available in various chopped sizes, and BasaMesh™, a…View ↗
Our customer base is a mix of the design-build community and government agencies who can specify our products, and wholesalers…View ↗
Who Were Their Customers?
Markets and sells mainly through third-party distribution partners, with some direct sales. Construction firms and concrete producers use its products, while design-build firms and government agencies can specify them.
10-K for FY2024, filed Mar 31, 2025
Did Revenues Turn Into Profits?
No. It lost $1.7M in FY2024.
10-K for FY2024, filed Mar 31, 2025
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2025, filed Nov 25, 2025
−$206.5KView ↗
- ▼ −45% (Loss)
- vs −$374K in Q3 FY2024
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Jun 5, 2026
Board terminated its accounting firm
The company said Hudgens CPA had stopped operating without notifying it.
Sources
8-K, filed Jun 5, 2026
Basanite, Inc . (the “Company”) since November of 2025 has not had any communications with Hudgens CPA, PLLC, its Independent Registered…View ↗
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Oct 16, 2025
Acting interim CFO resigned
Ronald LoRicco remains the acting interim CEO and board chair.
Sources
8-K, filed Oct 16, 2025
On October 15, 2025, Ronald LoRicco, Sr. remitted his resignation as the Acting Interim Chief Financial Officer notifying the Board and…View ↗
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Apr 23, 2025
Board reappointed Ronald LoRicco as acting interim CEO
The reappointment followed Mike Nelson’s departure as CEO while the company searches for a new CEO.
Sources
8-K, filed Apr 23, 2025
On April 18, 2025 the Board of Directors of Basanite, Inc. (the “Company”) approved the reappointment of Ronald LoRicco, Sr. as the…View ↗
Manufacturing relocation
The older report described initial manufacturing operations at its Florida facility; the latest says that site is no longer operating and the company is seeking a new manufacturing facility in Ohio.
10-K for FY2021, filed Apr 15, 2022 10-K for FY2024, filed Mar 31, 2025During the third quarter of 2020, we began initial manufacturing operations and commenced the manufacture of our initial stock of inventory…View ↗
We previously leased a fully permitted, 36,900 square foot facility located in Pompano Beach, Florida equipped with five customized…View ↗
Who Did They Compete With?
Competes with Neuvokas, Kodiak, Armastek, Galen, Sudaglass, Owens Corning/Mateen, Liberty, American Fiberglass Rebar, Tuf-Bar, Pulltrall, and Pultron
10-K for FY2024, filed Mar 31, 2025We believe our major competitors in the BFRP space specifically include, Neuvokas, Kodiak, Armastek, Galen, Sudaglass and several…View ↗
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