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OTC MARKETS · Chemicals · CIK 0001448705
$0.0201
-12.61% · delayed ~15 min
Last price from Oct 21, 2026
$5.2M market value
From BASANITE, INC.'s FY2024 10-K, filed Mar 31, 2025 · read the filing
BASANITE makes consumer goods such as jewellery, toys and sporting goods.
The filing does not provide enough evidence for a clear financial conclusion.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Significant financial weakness across most measures.
From BASANITE, INC.'s FY2024 annual filing · share price scored separately
Largest year-over-year changes in FY2024
Gross profit
$127.8K → $262.5K
Operating income
-$1.6M → -$805.0K
Cash
$55.2K → $82.2K
Profit
-$2.2M → -$1.7M
Measured against FY2023, from the 10-K filed Mar 31, 2025
Improved: +105.5%
$127.8K to $262.5KCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: $798.0K narrower
-$1.6M to -$805.0KCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
How the latest move compares (quote delayed ~15 min), and what was published around it
BASA fell 12.61% on the latest quote. The S&P 500 moved −1.04%. That is 11.6 points below the market.
No filing from BASA and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 0.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $1.7M last year.
Not enough history has been reported to judge growth.
Yes. It owes more than it owns — only $0.03 in assets for every $1 of liabilities. Its operating profit does not cover its interest bill — -0.87x against the interest it owes.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2024 annual filing
Last year it lost $1.7M and generated -$401.0K of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202410-K · Mar 31, 2025Filing for FY2024 | FY202310-K · Mar 31, 2025Filing for FY2023 | FY202210-K/A · Apr 15, 2024Filing for FY2022 | FY202110-K/A · Apr 15, 2022Filing for FY2021 | FY202010-K · Apr 15, 2022Filing for FY2020 | ChangeFY2024 vs FY2023 |
|---|---|---|---|---|---|---|
| Cost of revenue | $172.2K | $248.3K | $2.0M | $2.0M | $4.5K | −30.7% |
| Gross profit | $262.5K | $127.8K | -$669.8K | -$1.8M | $2.7K | +105.5% |
| Selling, general and administrative | $1.1M | $1.7M | $3.6M | $8.0M | $3.0M | −38.3% |
| Operating income | -$805.0K | -$1.6M | -$4.3M | -$9.8M | -$3.0M | +49.8% |
| Interest expense | $924.8K | $566.4K | $512.2K | $512.4K | $898.3K | +63.3% |
| Income before tax | — | — | — | — | -$3.5M | — |
| Net income | -$1.7M | -$2.2M | -$8.0M | -$16.5M | -$4.2M | +20.3% |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.006673 | $-0.008567 | $-0.0315 | $-0.0662 | $-0.0187 | +22.1% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Nothing recent
No insider trades, pending-sale notices or 5% stake filings from BASA in the last few months. That is the ordinary case, not a gap.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Changed its auditor
Read the filingQuarterly report for Q3 FY2025
Revenue -97.6% · Operating margin −18551.1 pts · Gross profit turned negative — against Q3 FY2025
Read the filingWrite down why you are following BASANITE, INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
Primary sources and further research
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from BASA's 10-K for fiscal year 2024 (period ending 2024-12-31, filed Mar 31, 2025), reported under the US GAAP taxonomy. View the source filing.
2 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Growth and Accounting had too few reported figures and are left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 6 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2024 | 2.0 | 3/6 | 10-K, filed Mar 31, 2025 |
| FY2023 | 2.0 | 2/6 | 10-K, filed Apr 15, 2024 |
| FY2022 | 2.0 | 3/6 | 10-K/A, filed May 16, 2023 |
| FY2021 | 2.0 | 1/6 | 10-K, filed Apr 15, 2022 |
| FY2020 | 2.0 | 3/6 | 10-K, filed Mar 31, 2021 |
| FY2019 | 2.0 | 4/6 | 10-K, filed Apr 6, 2020 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
3 of 6 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 3 could not be evaluated and are excluded from the total rather than counted as failures.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2024 filing as filed with the SEC.
Improved: +48.8%
$55.2K to $82.2KCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: $440.0K narrower
-$2.2M to -$1.7MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: $0.00 narrower
-$0.01 to -$0.01Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +2.3%
253.2M to 259.2MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q3 FY2025 against Q3 FY2025, from the 10-Q filed Nov 25, 2025 — read it.
Deteriorated: -97.6%
$62.8K to $1.5KCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: turned negative
$31.7K to -$108.4KCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: $146.8K wider
-$137.1K to -$284.0KCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $167.5K narrower
-$374.0K to -$206.5KCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −7212.7 pts
50.5% to -7162.3%Critical
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −18551.1 pts
-218.3% to -18769.4%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −13055.7 pts
-595.2% to -13650.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $0.00 narrower
-$0.00 to -$0.00Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: turned negative
$2.3K to $0.00Critical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +2.8%
260.2M to 267.6MNotable
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q3 FY2025 against Q2 FY2025, from the 10-Q filed Nov 25, 2025 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: -96.0%
$38.0K to $1.5KCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: turned negative
$14.4K to -$108.4KCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: $521.3K narrower
-$727.8K to -$206.5KCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −7200.3 pts
38.0% to -7162.3%Critical
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −17527.3 pts
-1242.1% to -18769.4%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −11734.2 pts
-1916.7% to -13650.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $0.00 narrower
-$0.00 to -$0.00Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: turned negative
$109.2K to $0.00Critical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: $187.7K narrower
-$471.6K to -$284.0KSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
Had a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q2 FY2025
Revenue -56.3% · Operating margin −1043.8 pts · Gross profit -74.6% — against Q2 FY2025
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q1 FY2025
Revenue -52.9% · Operating margin −507.6 pts · Gross profit -76.1% — against Q1 FY2025
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2024
Gross profit +105.5% · Operating income $798.0K narrower · Cash +48.8% — against FY2023
Read the filingSigned a material agreement · Sold shares outside a public offering · Had a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2025
Gross profit turned positive · Operating income $199.9K narrower · Cash -98.0% — against Q3 FY2023
Read the filingSigned a material agreement · Sold shares outside a public offering · Had a director or senior officer leave or join
Read the filingQuarterly report for Q2 FY2025
Operating income $303.5K narrower · Cash +94.8% · Profit $196.7K narrower — against Q2 FY2024
Read the filingReceived a delisting or listing-standard notice
Read the filingQuarterly report for Q1 FY2025
Read the filingAnnual report for FY2023
Gross profit turned positive · Operating income $2.7M narrower · Profit $5.8M narrower — against FY2022
Read the filingAnnual report for FY2023
Gross profit turned positive · Operating income $2.7M narrower · Profit $5.8M narrower — against FY2022
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filing