ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN	NOTE 1 – ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN *(A) Description of Business* On May 30, 2006, Basanite, Inc. was organized as a Nevada corporation. Basanite and its wholly owned subsidiaries are herein referred to as the "Company", “we”, “our”, or “us”. Currently based in Pompano Beach, Florida, the Company intends to manufacture concrete-reinforcing products made from basalt fiber reinforced polymers (“BFRP”), such as its primary product BasaFlex. This UV-stable, chemical, acid and moisture resistant material is sustainable and environmentally friendly and has been engineered to replace steel as it never rusts, therefore, addressing the industry’s current corrosion issues. On December 19, 2018, the Company changed its name from PayMeOn, Inc. to Basanite, Inc. to more accurately reflect the new direction of the Company. In 2017, the Company had acquired Basalt America, LLC (“Basalt America”), a business dedicated to the production of reinforcement products made of basalt fiber for the construction industry. Basalt America had an exclusive license with Global Energy Sciences (through an assignment by RAW Energy Materials Corp. (“RAW”)) for the exclusive production and sales of certain trademarked concrete reinforcement products (“RAW License Agreement”). During the second quarter of 2017, the Company entered into a term sheet for a Joint Venture (“Joint Venture”) with accredited investors for the management of Basalt America Territory 1, LLC, which would have the exclusive rights to manage sales for Dade, Broward and Monroe Counties in the State of Florida. In conjunction with entering into the Joint Venture, the investors provided total proceeds of $502,500 which was used as a deposit to purchase future inventory from May to August 2017. Operations commenced during the fourth quarter of 2017. The Company owned 55.3% and the investors owned 44.7% of the joint venture. In October 2018, Basalt America and affiliates of Global Energy Sciences entered litigation over various contractual disputes. The RAW License Agreement was terminated on January 29, 2019. On February 12, 2019, as a result of the termination of the RAW License Agreement, the Company agreed to settle with the non-controlling investors in Basalt America Territory 1, LLC to unwind the investment. In the settlement, the Company agreed to issue 2,010,000 restricted common shares at a value representing the original investment of $502,500 ($0.25 per share). The non-controlling investors were issued these shares on March 21, 2019 and the Company took control of the previous 44.7% of Basalt America Territory 1, LLC formerly representing the non-controlling interest as of December 31, 2018 in the accompanying consolidated financial statements. During 2018, the Company formed Basanite Industries, LLC (“Basanite Industries”) to pursue the basalt fiber reinforcement business through the production of its own proprietary basalt fiber reinforcement. The Company has equipped itself with new personnel, new and different equipment, new proprietary resin matrix and products; all outside of any relationship or knowledge associated with the RAW License Agreement, to establish its successful market entry through its wholly owned subsidiary Basanite Industries, LLC. Prior to entering the reinforcement business, the Company had conducted business through two separate wholly owned subsidiaries: HLM Paymeon, Inc., and Paymeon Brands, Inc. On March 19, 2018, the Board of Directors of the Company approved the disposal of HLM Paymeon, Inc. and Paymeon Brands, Inc. as the Company continued its strategic shift into the basalt fiber reinforcement business. The disposal of HLM Paymeon, Inc. and Paymeon Brands, Inc. was effective September 30, 2018. As a result of this disposal, the Company recorded a loss from discontinued operations in the accompanying consolidated financial statements as of December 31, 2018. *(B) Liquidity and Management Plan* Since inception, the Company has incurred net operating losses and used cash in operations. The Company has an accumulated deficit of approximately $25.4 million and $21.1 million, a working capital deficiency of approximately $1.9 million and $2.3 million, and cash used in operations of approximately $2.3 million and $1.4 million at December 31, 2019 and 2018, respectively. Losses have principally occurred as a result of the substantial resources required for product development and marketing of the Company's products, which include the general and administrative expenses associated with its organization and product development. We expect operating losses to continue due to the anticipated costs to test and certify our fiber reinforced polymer rebar manufacturing process and product. At December 31, 2019, the Company had cash of $129,152 compared to $121,831 at December 31, 2018. The Company believes that it has sufficient capital and access to future capital to fund its planned operations to enter into the second quarter of calendar year 2020. We have historically satisfied our working capital requirements through the sale of restricted common stock and the issuance of warrants and promissory notes. This occurred during most of 2019. To the extent future revenues and corresponding cash flows do not materialize, we will attempt to fund working capital requirements through third party financing, including a private placement of our securities as well as bridge loan arrangements. We cannot provide any assurances that required capital will be obtained or that the terms of such required capital may be acceptable to us. If we are unable to obtain adequate financing, we may reduce our operating activities until sufficient funding is secured or revenues are generated to support operating activities. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of these uncertainties. Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provides the opportunity for the Company to continue as a going concern.

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN

NOTE 1 – ORGANIZATION, NATURE OF BUSINESS AND GOING CONCERN

(A) Description of Business

On May 30, 2006, Basanite, Inc. was organized as a Nevada corporation. Basanite and its wholly owned subsidiaries are herein referred to as the "Company", “we”, “our”, or “us”. Currently based in Pompano Beach, Florida, the Company intends to manufacture concrete-reinforcing products made from basalt fiber reinforced polymers (“BFRP”), such as its primary product BasaFlex. This UV-stable, chemical, acid and moisture resistant material is sustainable and environmentally friendly and has been engineered to replace steel as it never rusts, therefore, addressing the industry’s current corrosion issues.

On December 19, 2018, the Company changed its name from PayMeOn, Inc. to Basanite, Inc. to more accurately reflect the new direction of the Company. In 2017, the Company had acquired Basalt America, LLC (“Basalt America”), a business dedicated to the production of reinforcement products made of basalt fiber for the construction industry. Basalt America had an exclusive license with Global Energy Sciences (through an assignment by RAW Energy Materials Corp. (“RAW”)) for the exclusive production and sales of certain trademarked concrete reinforcement products (“RAW License Agreement”). During the second quarter of 2017, the Company entered into a term sheet for a Joint Venture (“Joint Venture”) with accredited investors for the management of Basalt America Territory 1, LLC, which would have the exclusive rights to manage sales for Dade, Broward and Monroe Counties in the State of Florida. In conjunction with entering into the Joint Venture, the investors provided total proceeds of $502,500 which was used as a deposit to purchase future inventory from May to August 2017. Operations commenced during the fourth quarter of 2017. The Company owned 55.3% and the investors owned 44.7% of the joint venture.

In October 2018, Basalt America and affiliates of Global Energy Sciences entered litigation over various contractual disputes. The RAW License Agreement was terminated on January 29, 2019. On February 12, 2019, as a result of the termination of the RAW License Agreement, the Company agreed to settle with the non-controlling investors in Basalt America Territory 1, LLC to unwind the investment. In the settlement, the Company agreed to issue 2,010,000 restricted common shares at a value representing the original investment of $502,500 ($0.25 per share). The non-controlling investors were issued these shares on March 21, 2019 and the Company took control of the previous 44.7% of Basalt America Territory 1, LLC formerly representing the non-controlling interest as of December 31, 2018 in the accompanying consolidated financial statements.

During 2018, the Company formed Basanite Industries, LLC (“Basanite Industries”) to pursue the basalt fiber reinforcement business through the production of its own proprietary basalt fiber reinforcement. The Company has equipped itself with new personnel, new and different equipment, new proprietary resin matrix and products; all outside of any relationship or knowledge associated with the RAW License Agreement, to establish its successful market entry through its wholly owned subsidiary Basanite Industries, LLC.

Prior to entering the reinforcement business, the Company had conducted business through two separate wholly owned subsidiaries: HLM Paymeon, Inc., and Paymeon Brands, Inc. On March 19, 2018, the Board of Directors of the Company approved the disposal of HLM Paymeon, Inc. and Paymeon Brands, Inc. as the Company continued its strategic shift into the basalt fiber reinforcement business. The disposal of HLM Paymeon, Inc. and Paymeon Brands, Inc. was effective September 30, 2018. As a result of this disposal, the Company recorded a loss from discontinued operations in the accompanying consolidated financial statements as of December 31, 2018.

(B) Liquidity and Management Plan

Since inception, the Company has incurred net operating losses and used cash in operations. The Company has an accumulated deficit of approximately $25.4 million and $21.1 million, a working capital deficiency of approximately $1.9 million and $2.3 million, and cash used in operations of approximately $2.3 million and $1.4 million at December 31, 2019 and 2018, respectively. Losses have principally occurred as a result of the substantial resources required for product development and marketing of the Company's products, which include the general and administrative expenses associated with its organization and product development. We expect operating losses to continue due to the anticipated costs to test and certify our fiber reinforced polymer rebar manufacturing process and product.

At December 31, 2019, the Company had cash of $129,152 compared to $121,831 at December 31, 2018.

The Company believes that it has sufficient capital and access to future capital to fund its planned operations to enter into the second quarter of calendar year 2020. We have historically satisfied our working capital requirements through the sale of restricted common stock and the issuance of warrants and promissory notes. This occurred during most of 2019. To the extent future revenues and corresponding cash flows do not materialize, we will attempt to fund working capital requirements through third party financing, including a private placement of our securities as well as bridge loan arrangements. We cannot provide any assurances that required capital will be obtained or that the terms of such required capital may be acceptable to us. If we are unable to obtain adequate financing, we may reduce our operating activities until sufficient funding is secured or revenues are generated to support operating activities.

These conditions raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of these uncertainties. Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provides the opportunity for the Company to continue as a going concern.