BASANITE, INC. - 10-Q filing on 2012-05-21

LICENSES	3 Months Ended
Mar. 31, 2012
Notes to Financial Statements
LICENSES	NOTE 4 – LICENSES On February 1, 2010, the Company entered into a distribution license agreement valued at $4,363. Accumulated amortization for the distribution license was $2,909 as of June 30, 2011. The unamortized amount of $1,454 was impaired and expensed during the quarter ended June 30, 2011.

LICENSES

3 Months Ended

Mar. 31, 2012

NOTE 4 – LICENSES

On February 1, 2010, the Company entered into a distribution license agreement valued at $4,363. Accumulated amortization for the distribution license was $2,909 as of June 30, 2011. The unamortized amount of $1,454 was impaired and expensed during the quarter ended June 30, 2011.