Corporate Update - Basanite Industries, Inc. provided a corporate update to inform shareholders about recent events, current business status, and future intentions [1] Board of Directors Changes - Several directors, including Andrew Acquarulo, Jr., Paul Sallarulo, Sergio Salani, and Fred Tingberg, resigned from the Board of Directors between August 13th and August 15th, 2025 [2] - Jacqueline Placeres and Fred Tingberg also resigned from their roles as Chief Financial Officer and Chief Technology Officer, respectively [2] - The current Board consists of Manuel Rodriguez, Adam Falkoff, and Ronald LoRicco, with LoRicco serving as interim Chief Executive Officer and interim Chief Financial Officer [2] Relocation and Litigation - The company relocated its offices, assets, and equipment from Pompano Beach to Branford, Connecticut, and updated its corporate address accordingly [3] - Basanite is involved in ongoing litigation against Upstate Custom Products (UCP) in Federal Court, claiming that UCP failed to deliver custom pultrusion machines for which Basanite has already paid [3] Business Opportunities - Basanite is exploring opportunities in the Basalt Fiber Reinforced Polymer industries, aiming to leverage its proprietary patented manufacturing process and established network [4] - The company is also considering potential investments in various sectors, including energy, mining, cryptocurrency, and healthcare, although there are no guarantees of success in these endeavors [4] Company Overview - Basanite, Inc. manufactures and develops environmentally friendly, high-performance basalt fiber composite products for the construction industry, which are non-corrosive, lighter, stronger, and longer-lasting compared to traditional steel elements [5]