BASANITE, INC. 8-K

What Happened

• Basanite, Inc. announced on June 2, 2026 that its Board terminated Hudgens CPA, PLLC as the company's independent registered public accounting firm. The company discovered that Hudgens had withdrawn from the Public Company Accounting Oversight Board (PCAOB) in November/December 2025 and ceased operations without notifying Basanite.

Key Details

• Auditor: Hudgens CPA, PLLC — terminated by the Board on June 2, 2026.
• PCAOB withdrawal: Hudgens withdrew from the PCAOB in November and December 2025 and did not notify the company.
• Prior audits: Hudgens’ reports on Basanite’s consolidated financial statements for the years ended December 31, 2024 and December 31, 2023 were unmodified and contained no qualifications, disclaimers, or uncertainty modifications.
• No disagreements or reportable events: For fiscal years 2023 and 2024 and the interim period through June 2, 2026, Basanite reports no disagreements with Hudgens on accounting, disclosure, or audit scope, and no reportable events under Regulation S-K Item 304.
• Company action: Basanite provided Hudgens with a copy of these disclosures and requested a letter to the SEC confirming whether Hudgens agrees with the statements.

Why It Matters

• Auditor continuity matters because a change can affect the timing and completion of future audited filings; Basanite will need to engage a new independent auditor.
• The filing reassures investors that past audited financials (2023 and 2024) were unmodified and that there were no disagreements with the former auditor, reducing immediate concerns about those historical results.
• Investors should watch for announcements about the appointment of a new auditor and any updates on timing of future financial filings or disclosures.