4//SEC Filing
LoRicco Ronald Joseph Sr. 4
Accession 0001553350-20-000728
CIK 0001448705other
Filed
Aug 11, 8:00 PM ET
Accepted
Aug 12, 12:30 PM ET
Size
21.2 KB
Accession
0001553350-20-000728
Insider Transaction Report
Form 4
BASANITE, INC.BASA
LoRicco Ronald Joseph Sr.
Director10% Owner
Transactions
- Conversion
Common Stock
2020-06-25$0.13/sh+1,163,201$153,543→ 30,471,534 total(indirect: See footnote) - Conversion
Common Stock
2020-06-25$0.13/sh+397,269$52,440→ 4,397,269 total(indirect: See footnote) - Conversion
Convertible Promissory Note
2020-06-25$0.13/sh−1,163,201$153,543→ 0 total(indirect: See footnote)Exercise: $0.13From: 2020-06-06Exp: 2020-07-16→ Common Stock (1,163,201 underlying) - Conversion
Convertible Promissory Note
2020-06-25$0.13/sh−397,269$52,440→ 0 total(indirect: See footnote)Exercise: $0.13From: 2020-06-06Exp: 2020-10-13→ Common Stock (397,269 underlying) - Other
Warrant
2020-06-25+1,163,201→ 1,163,201 total(indirect: See footnote)Exercise: $0.40From: 2020-06-25Exp: 2025-06-25→ Common Stock (1,163,201 underlying) - Other
Warrant
2020-06-25+397,269→ 397,269 total(indirect: See footnote)Exercise: $0.40From: 2020-06-25Exp: 2025-06-25→ Common Stock (397,269 underlying)
Holdings
- 1,566,667(indirect: See footnote)
Common Stock
- 1,566,667(indirect: See footnote)
Common Stock
- 500,000(indirect: See footnote)
Common Stock
Footnotes (9)
- [F1]On June 25, 2020, the Reporting Person converted a previously disclosed $150,000 12% Convertible Promissory Note (including $3,542.47 of accrued, unpaid interest) initially issued on January 16, 2020 (the "January Note") at a conversion price of $0.132. Pursuant to the terms of the January Note, the conversion price was calculated at 80% of the Issuer's closing trading price on June 5, 2020, which was $0.165. All such shares are "restricted securities" as defined by the Securities Act of 1933, as amended (the "Securities Act").
- [F2]All of these shares are held in the name of RVRM Holdings LLC, which is controlled by the Reporting Person.
- [F3]On June 25, 2020, the Reporting Person converted a previously disclosed $50,000 12% Convertible Promissory Note (including $2,439.52 of accrued, unpaid interest) initially issued on April 13, 2020 (the "April Note") at a conversion price of $0.132. Pursuant to the terms of the April Note, the conversion price was calculated at 80% of the Issuer's closing trading price on June 5, 2020, which was $0.165. All such shares are "restricted securities" as defined by the Securities Act.
- [F4]All of these shares are held in the name of First New Haven Mortgage Company, which is controlled by the Reporting Person.
- [F5]All of these shares are held in the name of ARGJ, LLC ("ARGJ"). The Reporting Person's brother, Richard LoRicco, Jr., is the manager of ARGJ. The Reporting Person is neither a manager nor a member of ARGJ. The Reporting Person disclaims beneficial ownership of all of the securities that are beneficially owned by ARGJ, except to the extent, if any, of his pecuniary interest therein.
- [F6]All of these shares are held in the name of RJC3, LLC ("RJC3"). The Reporting Person's brother, Richard LoRicco, Jr., is the manager of RJC3. The Reporting Person is neither a manager nor a member of RJC3. The Reporting Person disclaims beneficial ownership of all of the securities that are beneficially owned by RJC3, except to the extent, if any, of his pecuniary interest therein.
- [F7]All of these shares are held in the name of LoRi Co., which is controlled by the Reporting Person.
- [F8]Pursuant to the terms of the January Note, as of the conversion date the Reporting Person was issued a five-year Warrant to Purchase Common Stock for up to 1,163,201 shares of the Issuer's common stock with an exercise price of $0.396, or three times the conversion price of the January Note.
- [F9]Pursuant to the terms of the April Note, as of the conversion date the Reporting Person was issued a five-year Warrant to Purchase Common Stock for up to 397,269 shares of the Issuer's common stock with an exercise price of $0.396, or three times the conversion price of the April Note.
Documents
Issuer
BASANITE, INC.
CIK 0001448705
Entity typeother
Related Parties
1- filerCIK 0001699571
Filing Metadata
- Form type
- 4
- Filed
- Aug 11, 8:00 PM ET
- Accepted
- Aug 12, 12:30 PM ET
- Size
- 21.2 KB