Basanite leases $450k manufacturing machine from affiliate; purchase required at term end

BASANITE, INC.

Leased a BasaMax Tetrad basalt rebar pultrusion machine from affiliate First New Haven Mortgage Co.
Monthly rent of $8,250 deferred until $2M equity raise; purchase price at end: $450k plus accrued rent.
First amendment corrected quantity from three machines to one machine.
Transaction approved by disinterested directors; Ronald J. LoRicco (co-manager of lessor) recused.

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