secwatch.observer — SEC 8-K summary
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Issuer:     BASANITE, INC. (BASA)
CIK:        0001448705
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0001079973-24-001165
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Basanite receives OTCQB delisting notice for sub-$0.01 bid price
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- OTCQB notice on July 30, 2024: BASA's bid price below $0.01 for 30+ days, violating continued listing standards.
- Cure period until Oct 28, 2024 to re-comply: bid price >= $0.01 for ten consecutive trading days.
- If bid price falls below $0.001 for five consecutive days, immediate removal from OTCQB.
- Company may pursue reverse stock split to regain compliance, but no guarantee of success.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448705/000107997324001165/0001079973-24-001165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448705/000107997324001165/basa_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-001165

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer