secwatch.observer — SEC 8-K summary
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Issuer:     BASANITE, INC. (BASA)
CIK:        0001448705
Form:       8-K
Filed at:   2022-11-18T23:59:59+00:00
Accession:  0001553350-22-000932
Event type: leadership
Sentiment:  negative
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Simon Kay departs abruptly; Board names Michael V. Barbera as Acting Interim CEO
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- CEO Simon Kay terminated employment effective Nov 14, 2022, citing 'Good Reason' under his employment agreement and claiming unpaid wages.
- Board appointed director Michael V. Barbera as Acting Interim CEO; he previously served as Chairman since Jan 2020.
- Board ratified Sept 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman.
- Company states it will defend against any claims from Kay regarding unpaid wages.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/0001553350-22-000932-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/basa_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-22-000932

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