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Brownie's Marine Group, Inc. (BWMG)

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Neutralpattern detected
Previous Close0.0255
Open0.0290
BidN/A x N/A
AskN/A x N/A
Day's Range0.0255 - 0.0255
52 Week Range0.0018 - 0.0562
Volume65
Avg. Volume93,129
Market Cap7.727M
Beta (5Y Monthly)2.31
PE Ratio (TTM)N/A
EPS (TTM)-0.0050
Earnings DateNov 16, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Brownie’s Marine Group Announces BLU3’s shipment of its 1,000th Nemo
    GlobeNewswire

    Brownie’s Marine Group Announces BLU3’s shipment of its 1,000th Nemo

    Pompano Beach, Florida, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Brownies Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment and high pressure air and industrial compressors in the marine industry, announces today that its wholly owned subsidiary, BLU3, Inc. shipped their 1,000th Nemo. The Nemo is the next generation electric surface supplied air diving system launched in Q4, 2019. “It’s exciting to see something you have worked so hard on gain acceptance worldwide, and with the 1,000th unit on its way to Australia we are excited to be introducing Nemo diving to a new consumer base.” Says Blake Carmichael, CEO of BLU3, Inc. “We are working hard to build a brand that promotes the diving industry in an environmentally friendly manner, and look towards our next iteration, Nomad, to take consumers deeper while remaining very portable. Our goal is to have Nomad in production by Q3, 2021”With the expanding BLU3 product line leading into the Brownie’s Third Lung product line, Brownie’s Marine Group will be able to offer the consumer the full vertical integration of the diving experience. Both companies will continue to innovate, and look to make our products intriguing for the consumer as well as environmentally friendly.Chris Constable, CEO states, “We are excited for the future for Blake and his team at BLU3, their hard work is coming to fruition and their innovations will drive innovation within the entire Brownie family line of products. Their segment of the business is a key link in creating further value to our stockholders.”About Brownie’s Marine GroupBrownie’s Marine Group, Inc., is the parent company to a family of innovative brands with a unique concentration in the industrial and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries: Trebor Industries, Inc., founded in 1981, dba as “Brownie’s Third Lung”; BLU3, Inc.; and Brownie’s High-Pressure Services, Inc., dba LW Americas. The Company is headquartered in Pompano Beach, Florida.For more information, visit: www.BrowniesMarineGroup.com.Safe Harbor StatementThis press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the Securities and Exchange Commission (the “SEC”) on June 29, 2020 and our other periodic and quarterly filings with the SEC.Source: Brownie’s Marine Group, Inc. Contact Information: (954)-462-5570 investors@browniesmarinegroup.com

  • Brownie’s Marine Group Announces 98.6% Increase in Net Revenues, 3.3% Net Profit Margin for Fiscal Third Quarter 2020
    GlobeNewswire

    Brownie’s Marine Group Announces 98.6% Increase in Net Revenues, 3.3% Net Profit Margin for Fiscal Third Quarter 2020

    POMPANO BEACH, FL, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment and high pressure air and industrial compressors in the marine industry, today announced results for the fiscal third quarter and nine months ending September 30, 2020."Brownie’s had a strong third quarter despite the challenges facing the country and the economy thus far in 2020. We believe that COVID19 has brought families back together and looking for outdoor, fun activities that they can share as a family unit. In our primary market of warm water destinations, we believe that the Brownie’s Third Lung and Nemo systems are the perfect family fun activity." said Christopher Constable, Chief Executive Officer. "The third quarter showed a great recovery from Q2, and we can feel the momentum building for our products. The Nemo product line is finding acceptance across the globe and has developed a great platform to help complete the vertical integration of the diving experience. The company is in a great cash position heading into the fourth quarter, and is focusing on flattening our seasonality curve by focusing on sub-equatorial geographical diving areas that will expand demand during the traditionally winter months in the US.”3rd Fiscal Quarter Highlights * Net Revenues increased 98.6% to $1.7 million versus $.8 million last year; * Net Income was $.05 million versus a loss of $.32 million last year; * Adjusted Net Income was $309,200 versus ($113,000) in the same period last year; and * At the close of the third quarter, cash and cash equivalents totaled $769,600, and a working capital balance of $770,236.Nine Months ended September 30, 2020 Highlights * Net Revenues increased 62.3% to $3.6 million versus $2.2 million last year; * Revenue from BLU3, launched in Q4, 2019, contributed $1.1 million for the nine months ended September 30, 2020 or 79% of overall growth. The BLU Vent project accounted for 15.8% of consolidated revenues for the nine month period. * Net Loss through Q3, 2020 was ($0.6) million versus ($0.8) million for Q3 last year; and * Adjusted Net Income for the nine months ending September 30, 2020 was $371,500 versus ($468,400) in the same period last year.Select Financial Metrics: Fiscal 3rd Quarter and Nine Months Ended September 30, 2020 Comparisons(in thousands)Q320Q319ChangeYTD20YTD19Change Total Net Revenues$1,670.6$841.4 98.6%$3,626.0 $2,233.6 62.3% Legacy SSA Products – Brownies Third Lung$1,271.7$683.0 86.2%$2,192.2 $1,762.5 24.4% High Pressure Gas Systems – LW Anerica’s$79.0$158.4 -50.1%$352.4 $471.1 -25.2% Ultra-Portable Tankless Dive Systems – Blu3$320.2$0.0 NM$1,081.4 $0.0 NM Operating Income (loss)$59.0($319.9)118.4%($639.5)($820.5)22.1% Net Income (loss)$56.5($322.0)117.5%($654.2)($826.3)20.8% Adjusted Net Income (loss) $309.9($11330)373.6%$371.5 ($468.4)179.3% NM = not measurable/meaningful       Q4 2020 Commentary"We have great momentum heading into the fourth quarter. We are looking to see further value come from our digital marketing program with Figment Design, and are expecting big things from our Nemo products as we head into the holiday season” says Robert M. Carmichael, President and Chairman of the Board, "We expect our partnership with Amazon,com along with other methods to get the Nemo in front of the public during the holidays to expand our customer base and bring an entire new group of divers into the market.”Non-GAAP Financial MeasuresThis press release includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). We report adjusted net income (loss) to measure our overall results because we believe it better reflects our net results by excluding the impact of non-cash equity-based compensation. We believe the presentation of adjusted net income (loss) enhances our investors’ overall understanding of the financial performance of our business.We believe that investors should have access to the same set of tools that we use in analyzing our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results.The following is an unaudited reconciliation of adjusted net income (loss) to net income (loss) for the periods presented:  Three Months Ended September 30, Nine Months Ended September 30,   2020 2019 2020 2019 Net income (loss) $56,535  $(321,964) $(654,200) $(826,315) plus:                 Stock issued for services  28,046   102,875   250,721   252,127  Stock-based compensation incentive bonus shares issued to CEO and employees  5,862   —    241,670   —   Stock-based compensation – options  218,505   105,761   533,300   105,761  Adjusted net income (loss) $308,948  $(113,328) $371,491  $(468,427) About Brownie’s Marine GroupBrownie’s Marine Group, Inc., is the parent company to a family of innovative brands with a unique concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries: Trebor Industries, Inc., founded in 1981, dba as “Brownie’s Third Lung”; BLU3, Inc.; and Brownie’s High-Pressure Services, Inc., dba LW Americas. The Company is headquartered in Pompano Beach, Florida.For more information, visit: www.BrowniesMarineGroup.com.Safe Harbor StatementThis press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the Securities and Exchange Commission (the “SEC”) and our other periodic and quarterly filings with the SEC.Source: Brownie’s Marine Group, Inc. Contact Information: (954)-462-5570 investors@browniesmarinegroup.com

  • Brownie’s Marine Group Announces New Chief Executive Officer
    GlobeNewswire

    Brownie’s Marine Group Announces New Chief Executive Officer

    Pompano Beach, Florida, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Brownies Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment and high pressure air and industrial compressors in the marine industry, announces today that Mr. Christopher Constable has been named a Chief Executive Officer of the public company, while Mr. Robert Carmichael will remain Chairman, and President of the Company. Mr. Constable has also been appointed to the Board of Directors of BWMG. Robert Carmichael, Chairman and President, stated, “Chris was brought in earlier this year on a consulting basis, and has done a great job for us. As we move the Company to the next stage of growth with our different business units, we feel his numerous operating and financial skill sets can help to get us there faster.”“I’m impressed with what Robert and the rest of the team have been able to accomplish to date. This Company is building some of the coolest and best engineered products in the marine industry.” Christopher Constable, Chief Executive Officer of BWMG stated. “I cannot possibly replace the knowledge and experience that Robert brings to the Company, and I look forward to working side by side with him as he uses his unique skill set to dive into special projects aimed at growing revenue across all business lines. We have a few specific goals that we are laser focused on, including growing top line, improving operations using a data driven decision making process, leading a systematic M&A process, and driving shareholder value through communicating those efforts to investors.”Mr. Constable's previous experiences included several operating and financial roles, including being the Former Chief Financial Officer of Blue Star Foods Corp. (OTCPK:BSFC), and a consultant at Gateway Capital Corp. where he working with companies to improve their financial performance and with lenders to analyze the financial and reporting capabilities of prospective lending customers. He began his career in commercial banking where he worked for banking institutions in Maryland and Florida in multiple capacities in commercial lending. Mr. Constable received his BS in Finance with an Accounting Minor from the Merrick School of Business at the University of Baltimore.About Brownie’s Marine GroupBrownie’s Marine Group, Inc., is the parent company to a family of innovative brands with a unique concentration in the industrial and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries: Trebor Industries, Inc., founded in 1981, dba as “Brownie’s Third Lung”; BLU3, Inc.; and Brownie’s High-Pressure Services, Inc., dba LW Americas. The Company is headquartered in Pompano Beach, Florida.For more information, visit: www.BrowniesMarineGroup.com.Safe Harbor StatementThis press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the Securities and Exchange Commission (the “SEC”) on June 29, 2020 and our other periodic and quarterly filings with the SEC.Source: Brownie’s Marine Group, Inc. Contact Information: (954)-462-5570 investors@browniesmarinegroup.com