Basanite Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 18, 2021 at 02:31 am IST
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Basanite Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced operating loss was USD 1.062 million compared to USD 581,299 a year ago. Net loss was USD 4.672 million compared to USD 561,305 a year ago. Basic loss per share from continuing operations was USD 0.021 compared to USD 0.003 a year ago.
Basanite, Inc., through its wholly owned subsidiary, Basanite Industries, LLC, manufactures a range of green, sustainable, non-corrosive, lightweight, composite products that are used in concrete reinforcement by the construction industry. The Companyâs core product includes BasaFlex, a basalt fiber-reinforced polymer (BFRP) reinforcing bar known as rebar. Its BasaMix products are fine denier basalt fibers available in various chopped sizes. BasaMix is designed to help absorb the stresses associated with early-aged plastic shrinkage and settlement cracking in concrete. BasaMix also serves as a system approach for optimum performance of a concrete element when used in conjunction with its BasaFlex rebar. Its BasaMesh is a line of Basalt Geogrid Mesh Rolls. BasaMesh is designed for secondary and temperature shrinkage reinforcement. BasaMesh can also work in conjunction with the BasaFlex rebar or BasaMix for a total reinforcement program.
BASANITE, INC. 
