$BASA
BASANITE, INC.

2012 Q4 Form 10-K Financial Statement

#000155335014000381 Filed on April 15, 2014

View on sec.gov

Income Statement

Concept 2012 Q4 2012 2011 Q4
Revenue $10.00K $32.91K $10.00K
YoY Change 0.0% -0.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $300.0K $150.2K $530.0K
YoY Change -43.4% -43.46% 341.67%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $9.476K $0.00
YoY Change -10.43%
% of Gross Profit
Operating Expenses $300.0K $1.543M $530.0K
YoY Change -43.4% -3.39% 341.67%
Operating Profit -$1.510M
YoY Change -3.46%
Interest Expense -$80.00K $96.58K $0.00
YoY Change 178.13%
% of Operating Profit
Other Income/Expense, Net -$96.58K
YoY Change 88.27%
Pretax Income -$370.0K -$1.607M -$530.0K
YoY Change -30.19% -0.55% 341.67%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$370.0K -$1.607M -$530.0K
YoY Change -30.19% -0.55% 341.67%
Net Earnings / Revenue -3700.0% -4882.09% -5300.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$500.0K -$2.368M -$815.4K
COMMON SHARES
Basic Shares Outstanding 47.33M
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.00K $20.00K $10.00K
YoY Change 100.0% 100.0% -50.0%
Cash & Equivalents $20.71K $6.328K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses $3.000K
Receivables
Other Receivables
Total Short-Term Assets $20.71K $20.00K $9.328K
YoY Change 122.03% 100.0% -95.56%
LONG-TERM ASSETS
Property, Plant & Equipment $11.84K $10.00K $21.31K
YoY Change -44.46% -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change -100.0%
Total Long-Term Assets $16.13K $20.00K $25.60K
YoY Change -37.01% 0.0% 28.02%
TOTAL ASSETS
Total Short-Term Assets $20.71K $20.00K $9.328K
Total Long-Term Assets $16.13K $20.00K $25.60K
Total Assets $36.84K $40.00K $34.93K
YoY Change 5.46% 33.33% -84.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.52K $50.00K $45.12K
YoY Change 0.9% 0.0% -24.81%
Accrued Expenses $230.5K $230.0K $45.55K
YoY Change 406.0% 360.0%
Deferred Revenue
YoY Change
Short-Term Debt $10.00K $10.00K $0.00
YoY Change
Long-Term Debt Due $30.00K $30.00K
YoY Change
Total Short-Term Liabilities $314.2K $310.0K $90.67K
YoY Change 246.54% 244.44% 51.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $314.2K $310.0K $90.67K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $310.0K $310.0K $90.00K
YoY Change 244.44% 244.44% 50.0%
SHAREHOLDERS EQUITY
Retained Earnings -$3.476M -$1.870M
YoY Change 85.92%
Common Stock $1.099K $44.65K
YoY Change -97.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$277.4K -$280.0K -$55.73K
YoY Change
Total Liabilities & Shareholders Equity $36.84K $40.00K $34.93K
YoY Change 5.46% 33.33% -84.81%

Cashflow Statement

Concept 2012 Q4 2012 2011 Q4
OPERATING ACTIVITIES
Net Income -$370.0K -$1.607M -$530.0K
YoY Change -30.19% -0.55% 341.67%
Depreciation, Depletion And Amortization $0.00 $9.476K $0.00
YoY Change -10.43%
Cash From Operating Activities -$190.0K -$469.4K -$120.0K
YoY Change 58.33% -12.1% 71.43%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $10.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K $483.8K 0.000
YoY Change -8.28% -100.0%
NET CHANGE
Cash From Operating Activities -190.0K -$469.4K -120.0K
Cash From Investing Activities 0.000 10.00K
Cash From Financing Activities 200.0K $483.8K 0.000
Net Change In Cash 10.00K $14.38K -110.0K
YoY Change -109.09% -287.74% -650.0%
FREE CASH FLOW
Cash From Operating Activities -$190.0K -$469.4K -$120.0K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$190.0K -$469.4K -$120.0K
YoY Change 58.33% -12.94%

Facts In Submission

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CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3476284 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5909470 USD
CY2012 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
32907 USD
CY2013 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
10025 USD
CY2012Q4 us-gaap Security Deposit
SecurityDeposit
4290 USD
CY2013Q4 us-gaap Security Deposit
SecurityDeposit
31407 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
-277357 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-1250046 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
-55734 USD
CY2013Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.69 pure
CY2012 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
408615 shares
CY2013 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
125000 shares
CY2013 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
4347826 shares
CY2012 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
264001 USD
CY2012 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
28500 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
137500 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000 USD
CY2013 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
454033 USD
CY2012 us-gaap Technology Services Costs
TechnologyServicesCosts
850134 USD
CY2013 us-gaap Technology Services Costs
TechnologyServicesCosts
375123 USD
CY2012 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
13740 USD
CY2013 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
22465 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0px"><strong><em>(B) Use of Estimates in Financial Statements</em></strong></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">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&nbsp;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. Significant estimates during the period covered by these financial statements include the valuation of website costs, valuation of deferred tax asset, stock based compensation and any beneficial conversion features on convertible debt.</p> <!--EndFragment--></div> </div>
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
680756 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4433572 shares

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