BASA BASANITE, INC.

BEARISH Impact: 6/10 8-K
Horizon weeks Filed Jun 5, 2026 Processed 9d 12h ago SEC 0001079973-26-000789
8-K material event: Items 4.01

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Executive Summary

Basanite, Inc. terminated its independent auditor, Hudgens CPA, PLLC, after discovering the firm had withdrawn from the PCAOB and ceased operations without notifying the company. The company had no communication with Hudgens since November 2025. No disagreements or reportable events were noted for the audited periods.

Actionable Insight

The company now lacks a PCAOB-registered auditor, which may delay or prevent the filing of required periodic reports (10-K, 10-Q) and could lead to OTC Markets delinquency or SEC enforcement. Monitor for the appointment of a new auditor and any subsequent late filing notices (NT 10-K/Q).

Key Facts

  • Hudgens CPA, PLLC was terminated as auditor on June 2, 2026.
  • The company had no contact with Hudgens since November 2025.
  • Hudgens withdrew from the PCAOB and ceased operations without notifying the company.
  • No disagreements or reportable events existed between the company and Hudgens for fiscal years 2023 and 2024.
  • Hudgens' reports on the 2023 and 2024 financials were unqualified.

Financial Impact

Auditor termination without a replacement creates significant uncertainty around the company's financial reporting and ability to file timely audited financial statements.

audit statusfinancial reporting compliance

Risk Factors

  • Risk of delinquent SEC filings and potential trading suspension on OTC Markets.
  • Risk of going concern or material weakness disclosures in future filings.
  • Risk of SEC inquiry or enforcement action for failure to maintain a registered auditor.

Market Snapshot

Exchange
OTC
Sector
Miscellaneous Manufacturing Industries

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001079973-26-000789
Document: 0001079973-26-000789-index-headers.html0001079973-26-000789
Document: 0001079973-26-000789-index.html0001079973-26-000789
Document: 0001079973-26-000789.txt0001079973-26-000789

US Market Status

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