BROWNIE'S MARINE GRP INC - BWMG STOCK NEWS

Brownie’s Marine Group, Inc. (OTCQB: BWMG) has announced that its subsidiary, Live Blue, Inc., completed the acquisition of Gold Coast Scuba, LLC, a dive shop in Lauderdale-by-the-Sea, Florida. This acquisition supports BWMG's strategy to enhance marine recreational activities through guided tours and equipment rentals. The initiative aims to promote eco-friendly diving experiences using their BLU3 tankless diving systems. The acquisition will be financed through a combination of equity and cash, with plans for further growth through mergers and acquisitions.

Brownie's Marine Group (OTCQB: BWMG) reported significant financial growth for FY-2021, with total revenue increasing 56.4% to $6.24 million, driven by a 294% revenue rise from its subsidiary BLU3, Inc., contributing $2.24 million. Q4-2021 saw a 115.6% revenue increase to $2.0 million. Despite a net income loss reducing to $517,000 from $697,000 YoY, challenges from supply chain disruptions affected margins. The company is optimistic about its investments in human capital and pricing adjustments to counter rising component costs.

Brownie’s Marine Group, Inc. (OTCQB:BWMG) announced its partnership with 1% for the Planet, committing to donate 1% of annual sales to marine-focused non-profits.

By joining this initiative, BLU3, Inc., a subsidiary of BWMG, aims to support long-term environmental solutions to combat marine degradation.

This collaboration aligns with BLU3's mission to protect marine environments, fostering awareness and change for sustainable futures.

Brownie’s Marine Group, Inc. (OTCQB:BWMG) has signed a term sheet to acquire the assets of Gold Coast Scuba, located in Lauderdale-by-the-Sea, Florida. This acquisition will serve as the foundation for a new subsidiary, Live Blue, aimed at offering innovative guided tours and rental experiences with its tankless diving products. Chairman Robert Carmichael emphasizes the importance of establishing consistent high-quality standards in the diving experience. Gold Coast Scuba will continue operating under its existing management, ensuring community involvement.

Brownie’s Marine Group (OTCQB: BWMG) reported preliminary unaudited financial results for Q4-2021 and FY-2021. The company anticipates Q4-2021 total revenue of approximately $1.900 million, marking a 104.3% increase from Q4-2020's $0.930 million. For FY-2021, core revenue is expected to reach $6.122 million, up 52.5% compared to FY-2020's $4.016 million. CEO Chris Constable highlighted strong sales in Blu3 recreational units, while Chairman Robert Carmichael expressed pride in the team amidst supply chain challenges.

Brownie’s Marine Group (OTCQB: BWMG) reported its fiscal third quarter results for the nine months ending September 30, 2021, showcasing a 38.4% increase in total net revenue, reaching $4.22 million compared to $3.62 million the previous year. The company successfully completed its first acquisition of Submersible Systems, Inc., enhancing manufacturing capacity and product offerings. While sales growth slowed due to global supply chain issues, demand for products remains strong. Cash and cash equivalents stood at $860,800 at quarter end.

Brownie’s Marine Group (OTCQB: BWMG) showcased its brands at the Ft. Lauderdale International Boat Show from October 27-31, 2021. The event connects the company with the global yachting community and features its innovative products like BLU3's Nomad and SeaLiOn Third Lung. CEO Chris Constable expressed excitement about the show returning to full capacity, emphasizing the opportunity to support retail partners and reach a broader consumer market. The boat show is recognized as the largest in-water boat show globally, attracting over 100,000 attendees.

Brownie’s Marine Group (OTCQB: BWMG) is set to showcase its diverse range of tankless dive equipment and industrial compressors at the United States Power Boat Show (October 7-10) and the United States Sailboat Show (October 14-18) in Annapolis, MD. The company is excited to return to these events after a hiatus in 2020 due to COVID-19, presenting innovative products like the BLU3 Nomad and the LW America’s YachtPro65. CEO Chris Constable emphasizes the significance of these shows for expanding their dealer and customer base.

Brownie’s Marine Group, Inc. (OTCQB: BWMG) announced the shipment of its first pre-ordered Nomad dive equipment from its subsidiary, BLU3, Inc., during the week of October 4, 2021. CEO Chris Constable expressed gratitude for customer support, emphasizing the Nomad's potential to transform diving experiences with its portable, lightweight design focused on safety. Despite previous supply chain delays, CEO Blake Carmichael highlighted the readiness of the Nomad, capable of reaching depths of 30 feet. This marks a significant milestone for both BLU3 and Brownie’s Marine Group.