Sec Form 4 Filing - LoRicco Ronald Joseph Sr. @ BASANITE, INC. - 2020-06-25

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person LoRicco Ronald Joseph Sr. 2. Issuer Name and Ticker or Trading Symbol BASANITE, INC. [ BASA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 216 CROWN STREET, SUITE 502 3. Date of Earliest Transaction (MM/DD/YY) 06/25/2020 (Street) NEW HAVEN, CT06510 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 06/25/2020 C( 1 ) 1,163,201 A $ 0.132 30,471,534 I See footnote ( 2 ) Common Stock 06/25/2020 C( 3 ) 397,269 A $ 0.132 4,397,269 I See footnote ( 4 ) Common Stock 1,566,667 I See footnote ( 5 ) Common Stock 1,566,667 I See footnote ( 6 ) Common Stock 500,000 I See footnote ( 7 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Convertible Promissory Note $ 0.132 06/25/2020 C( 1 ) 1,163,201 06/06/2020 07/16/2020 Common Stock 1,163,201 $ 0.132 0 I See footnote ( 2 ) Convertible Promissory Note $ 0.132 06/25/2020 C( 3 ) 397,269 06/06/2020 10/13/2020 Common Stock 397,269 $ 0.132 0 I See footnote ( 4 ) Warrant $ 0.396 06/25/2020 J( 8 ) 1,163,201 06/25/2020 06/25/2025 Common Stock 1,163,201 $ 0 ( 8 ) 1,163,201 I See footnote ( 2 ) Warrant $ 0.396 06/25/2020 J( 9 ) 397,269 06/25/2020 06/25/2025 Common Stock 397,269 $ 0 ( 9 ) 397,269 I See footnote ( 4 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other LoRicco Ronald Joseph Sr. 216 CROWN STREET SUITE 502 NEW HAVEN, CT06510 X X Signatures /s/ Ronald J. LoRicco Sr. 08/12/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )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"). ( 2 )All of these shares are held in the name of RVRM Holdings LLC, which is controlled by the Reporting Person. ( 3 )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. ( 4 )All of these shares are held in the name of First New Haven Mortgage Company, which is controlled by the Reporting Person. ( 5 )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. ( 6 )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. ( 7 )All of these shares are held in the name of LoRi Co., which is controlled by the Reporting Person. ( 8 )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. ( 9 )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.

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