BASA Basanite Inc (QB)

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 OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

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/YYYY) 6/25/2020
(Street) NEW HAVEN, CT 06510 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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	6/25/2020		C(1)		1163201	A	$0.132	30471534	I	See footnote (2)
Common Stock	6/25/2020		C(3)		397269	A	$0.132	4397269	I	See footnote (4)
Common Stock								1566667	I	See footnote (5)
Common Stock								1566667	I	See footnote (6)
Common Stock								500000	I	See footnote (7)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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	6/25/2020		C (1)			1163201	6/6/2020	7/16/2020	Common Stock	1163201	$0.132	0	I	See footnote (2)
Convertible Promissory Note	$0.132	6/25/2020		C (3)			397269	6/6/2020	10/13/2020	Common Stock	397269	$0.132	0	I	See footnote (4)
Warrant	$0.396	6/25/2020		J (8)		1163201		6/25/2020	6/25/2025	Common Stock	1163201	$0 (8)	1163201	I	See footnote (2)
Warrant	$0.396	6/25/2020		J (9)		397269		6/25/2020	6/25/2025	Common Stock	397269	$0 (9)	397269	I	See footnote (4)

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.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LoRicco Ronald Joseph Sr. 216 CROWN STREET SUITE 502 NEW HAVEN, CT 06510	X	X

Signatures
/s/ Ronald J. LoRicco Sr.		8/12/2020
**Signature of Reporting Person		Date