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Basanite Industries, Inc. Provides Corporate Update
BASA
Management Change
Legal Proceedings
New Projects/Investments
- Significant leadership changes occurred between August 13th and August 15th, 2025, with four directors resigning from the Board, and the Chief Financial Officer and Chief Technology Officer also stepping down; Ronald LoRicco is now the interim acting Chief Executive Officer and Chief Financial Officer.
- The company has relocated its offices, assets, and equipment from Pompano Beach to its new Branford, Connecticut location.
- Basanite is involved in ongoing litigation against Upstate Custom Products (UCP) in United States Federal Court regarding a dispute over undelivered custom pultrusion machines.
- The company is exploring new investment opportunities in various sectors, including energy, mining, cryptocurrency, and healthcare, in addition to its core Basalt Fiber Reinforced Polymer industries, though there are no assurances of success or financing for these ventures.
Sep 2, 2025, 3:00 PM
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