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) 2/12/2021
(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								31646367	I	See footnote (1)
Common Stock								4397269	I	See footnote (2)
Common Stock								1566667	I	See footnote (3)
Common Stock								1566667	I	See footnote (4)
Common Stock								500000	I	See footnote (5)

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	(6)	2/12/2021		J (6)		$1207504		2/12/2021	(6)	Common Stock	(6)	$1207504	0	I	See footnote (8)
Warrant	$0.20	2/12/2021		J (7)		11250000		2/12/2021	2/12/2026	Common Stock	11250000	$0 (7)	11250000	I	See footnote (8)

Explanation of Responses:
(1)	All of these shares are held in the name of RVRM Holdings LLC, which is controlled by the Reporting Person.
(2)	All of these shares are held in the name of First New Haven Mortgage Company, which is controlled by the Reporting Person.
(3)	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.
(4)	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.
(5)	All of these shares are held in the name of LoRi Co., which is controlled by the Reporting Person.
(6)	This convertible promissory note bears a per annum interest rate of 20%, has a maturity date of May 12, 2021 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").
(7)	This common stock warrant (the "Warrant") was issued in connection with the Note described in footnote 6 above.
(8)	The Note and the Warrant are held by The Richard A. LoRicco Sr. and Lucille M. LoRicco Irrevocable Insurance Trust DTD 4/28/95, Louis Demaio as Trustee (the "Trust") The Trust is maintained by Richard A. LoRicco Sr. and Lucille M. LoRicco, who are the parents of the Reporting Person. The Reporting Person disclaims beneficial ownership of the Notes and the Warrants held by the Trust, except to the extent, if any, of his pecuniary interest therein.

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.		2/17/2021
**Signature of Reporting Person		Date