Brownies Marine Group Inc - BWMG STOCK NEWS

Brownie’s Marine Group, Inc. (OTCQB: BWMG) has completed the acquisition of Submersible Systems, Inc., a manufacturer of lifesaving breathing systems based in California. This strategic acquisition aims to enhance BWMG's product offerings, particularly with the Spare Air system, which is expected to boost sales alongside the newly launched BLU3 Nomad systems. Submersible Systems reported revenues of $1.4 million in 2020, down from $1.8 million in 2019 due to COVID-19. The deal involves a combination of equity and debt, facilitated by Newbridge Securities Corporation as M&A Advisor.

Brownie’s Marine Group (OTCQB: BWMG), known for its tankless dive equipment, participated in a coastal conservation event on August 23, 2021, alongside Force Blue and Pepsi Stronger Together. The event emphasized ocean conservation and honored veterans. The company donated 23 3D buoys, promoting safety and reducing pollution in diving. The collaboration reflects Brownie's commitment to marine preservation. Future events are planned to enhance awareness and engagement in ocean conservation efforts.

Brownie’s Marine Group, Inc. (OTCQB: BWMG) announced a partnership between its subsidiary, BLU3, Inc., and Pure Florida for a week-long Instagram social media giveaway. Following the collaboration, BLU3's Instagram gained over 600 followers, reaching a total of 6,766. The giveaway aims to promote the Nemo diving system and expand brand awareness. Blake Carmichael, CEO of BLU3, expressed optimism about driving traffic to their website, while Pure Florida highlighted the mutual benefits of the partnership.

Brownie’s Marine Group (OTCQB: BWMG) reported its fiscal second quarter earnings for 2021. The company achieved a 29.7% year-over-year revenue increase, totaling $1.71 million, with a remarkable 98.6% growth in core business revenue, excluding previous one-time sales. Adjusted net income turned positive at $167,570 compared to a loss of $85,800 in 2020. Key highlights included strong sales growth across segments and the pre-launch of the Nomad dive system, a game-changing product set for release in Q3 2021. Cash and equivalents were reported at $161,700.

Brownie’s Marine Group (OTCQB: BWMG) announced its subsidiary, BLU3, Inc., will start pre-orders for the Nomad, a portable tankless dive system, on July 1, 2021. The Nomad allows divers to reach depths of up to 30 feet for 45-60 minutes on a single charge, weighing only 15 lbs. Pre-orders will be available through diveblu3.com. The company expresses excitement about leveraging technology from its earlier product, Nemo, which launched in 2019. Shipping is expected to commence in August or September.

Brownie’s Marine Group (OTCQB: BWMG) announced that its subsidiary, BLU3, Inc., will participate in Amazon Prime Day on June 21-22, 2021, offering a 20% discount on its Nemo products. The company has increased shipments of Nemo to Amazon warehouses, anticipating higher demand. Since launching on Amazon in November 2020, revenues have grown, and expansion into Europe and the UK is underway. Additionally, worldwide dealers will also offer the same discount, enhancing sales opportunities ahead of the anticipated launch of the Nomad product.

Brownie’s Marine Group (OTCQB: BWMG) has announced an exclusive distributor agreement with Chrysalis Trading CC DBA Bright Weights for the US and Caribbean markets.

The partnership provides innovative ballast systems that offer customization over traditional lead options, easing inventory burdens for dive stores. This development aims to enhance service to the dive community and is expected to drive sustainable growth for Brownie’s.

Bright Weights has a strong market presence, contributing to anticipated positive growth for the group.

Brownie’s Marine Group (OTCQB: BWMG) reported a 49.8% year-over-year revenue increase for Q1 2021, totaling $0.95 million, compared to $0.63 million in Q1 2020. The company reduced its adjusted net loss by 50.7% to $(97.5K). Highlights include significant growth in direct-to-consumer sales (162%) and notable performance from its subsidiaries, with Brownie’s Third Lung and BLU3 achieving year-over-year increases of 58% and 134%, respectively. Cash and equivalents stand at $343.9K, showing a working capital surplus of $733.7K.

Brownie’s Marine Group (OTCQB: BWMG) has announced a partnership between its subsidiary, BLU3, and Aquarium and Shark Lab by Team ECCO in Hendersonville, North Carolina. This collaboration aims to educate the community about marine life, aligning with BLU3's mission to promote underwater exploration and conservation.

CEO Blake Carmichael emphasized the innovative educational programs being developed with Team ECCO, expressing enthusiasm for future partnerships to enhance marine education.