secwatch.observer — SEC 8-K summary
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Issuer:     BASANITE, INC. (BASA)
CIK:        0001448705
Form:       8-K
Filed at:   2022-03-31T23:59:59+00:00
Accession:  0001553350-22-000279
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Basanite appoints Simon R. Kay as CEO, President, and Acting Interim CFO
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- Simon R. Kay appointed CEO and President, effective March 25, 2022; also serves as Acting Interim CFO.
- Employment agreement: two-year term, annual base salary of $250,000, automatically renews year-to-year.
- Kay receives warrant for 2M shares at $0.33, vesting 1M immediately and 1M on first anniversary; 5-year term.
- Cash bonus of $100,000 if Company uplists from OTCQB to NYSE/Nasdaq and achieves positive cash flow for a quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000279/0001553350-22-000279-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000279/basa_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-22-000279

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