Ronald J. LoRicco Sr. - May 12, 2021 Form 4 Insider Report for BASANITE, INC. (BASA)

Role
Director, 10%+ Owner
Signature
/s/ Ronald J. LoRicco Sr.
Stock symbol
BASA
Transactions as of
May 12, 2021
Transactions value $
$2,067,231
Form type
4
Date filed
5/21/2021, 06:18 PM
Next filing
Feb 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BASA Common Stock Purchase $300K +2.48M $0.12 2.48M May 17, 2021 See footnote F3, F4
transaction BASA Common Stock Purchase $500K +4.13M +825% $0.12 4.63M May 17, 2021 See footnote F7, F8
holding BASA Common Stock 31.6M May 12, 2021 See footnote F1
holding BASA Common Stock 4.4M May 12, 2021 See footnote F2
holding BASA Common Stock 1.57M May 12, 2021 See footnote F5
holding BASA Common Stock 1.57M May 12, 2021 See footnote F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BASA Convertible Promissory Note Other $1.27M 0 May 12, 2021 Common Stock See footnote F9, F11
transaction BASA Warrant Other $0 +5.63M $0.00 5.63M May 12, 2021 Common Stock 5.63M $0.35 See footnote F10, F11, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 All of these shares are held in the name of RVRM Holdings LLC, which is controlled by Richard LoRicco, Jr., the Reporting Person's brother.
F2 All of these shares are held in the name of First New Haven Mortgage Company, which is controlled by Report Person and Richard LoRicco, Jr., the Reporting Person's brother.
F3 These shares were purchased in a private transaction by the Reporting Person from a stockholder of the Issuer and will be "restricted securities" as such term is defined by the Securities Act of 1933, as amended.
F4 All of these shares are held by the LoRicco Family Trust Per Article 11 of the Richard and Lucille LoRicco Living Trust DTD 06/03/2010 (the "2010 Trust") Richard A. LoRicco Sr. and Lucille M. LoRicco were the parents of the Reporting Person and the 2010 Trust is maintained by an independent trustee. The Reporting Person disclaims beneficial ownership of the shares held by the 2010 Trust, except to the extent, if any, of his pecuniary interest therein.
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 These shares were purchased in a private transaction by the Reporting Person from a stockholder of the Issuer and will be "restricted securities" as such term is defined by the Securities Act of 1933, as amended.
F8 All of these shares are held in the name of LoRi Co., which is controlled by the Reporting Person and Richard LoRicco, Jr., the Reporting Person's brother.
F9 This second amended and rested convertible promissory note bears a per annum interest rate of 20%, has a maturity date of February 12, 2022 and may be converted at the option of the Reporting Person at a per share conversion price equal to the per shares cash price paid by any third party investors with total proceeds to the Issuer of not less $500,000 while amounts remain outstanding under the convertible promissory note (the "Note").
F10 This common stock warrant (the "Warrant") was issued in connection with the Note described in footnote 6 above.
F11 The Note and the Warrant are held by The Richard A. LoRicco Sr. and Lucille M. LoRicco Irrevocable Insurance Trust DTD 4/28/95, Camille Murphy as Trustee (the "1995 Trust") Richard A. LoRicco Sr. and Lucille M. LoRicco were the parents of the Reporting Person and the 1995 Trust is maintained by an independent trustee. The Reporting Person disclaims beneficial ownership of the Notes and the Warrants held by the 1995 Trust, except to the extent, if any, of his pecuniary interest therein.
F12 None.