Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer

On September 1, 2020, the Board of Directors of Basanite, Inc. (the "Company") appointed Adam S. Falkoff as a member of the Company's Board of Directors (the "Board"). Mr. Falkoff has not been appointed to any committees of the Board of Directors as of the date of this filing.

A summary of Mr. Falkoff's biography follows:

Mr. Falkoff, has over 20 years of experience in public policy, international relations, and business. Since 2006, he has served as the President of CapitalKeys, a global public policy and strategic consulting firm in Washington D.C. He has advised CEO's of the Fortune 100, Presidents, Prime Ministers, Cabinet Ministers and Ambassadors. Earlier in his career he served as professional staff in the United States Senate. He was a 2018 recipient of the Ellis Island Medal of Honor for service to the United States of America and named in the Power 100 of Washington, D.C. by Washington Life Magazine.

Mr. Falkoff received a B.A. from Duke University and both an M.B.A. and M.I.M. (Master of International Management) from the Thunderbird School of Global Management on an academic scholarship. During his graduate studies, he served as an assistant to former Vice President Dan Quayle. He also holds a Certificate of International Law from the University of Salzburg Institute on International Legal Studies. The coursework was instructed by Supreme Court Justice Anthony Kennedy and Supreme Court Justice John Paul Stevens.




Family Relationships

There are no family relationships between any of the Company's directors or officers and Mr. Falkoff.





Related Party Transactions

There are no related party transactions with respect to Mr. Falkoff and the Company reportable under Item 5.02 of Current Report on Form 8-K and Item 404(a) of Regulation S-K.





Compensatory Arrangements

As of the date of this filing, the Company and Mr. Falkoff have not agreed to a compensation arrangement for his service as a member of the Board. Once a compensation arrangement is agreed, the Company will publicly announce its terms.




Item 8.01 - Other Events.

On September 8, 2020, the Company issued a press release announcing the appointment of Mr. Falkoff as a member of the Board. A copy of the press release is filed as Exhibit 99.1 hereto and incorporated herein by reference in its entirety.

Item 9.01 - Financial Statements and Exhibits.




(d) Exhibits.


Exhibit
No.       Description

99.1        Press release of Basanite, Inc. issued on September 8, 2020.

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