Brownie's Marine Group Announces Investor Update
27 Abril 2017 - 9:49PM
Marketwired
Brownie's Marine Group Announces Investor Update
POMPANO BEACH, FL-(Marketwired - Apr 27, 2017) - Brownie's
Marine Group, Inc. (OTC PINK: BWMG) ("Brownie's" or the "Company")
and its wholly-owned subsidiary, Trebor Industries, Inc., d/b/a
Brownie's Third Lung, based in Pompano Beach, Florida is an
innovative and respected company that designs, tests, manufactures
and distributes recreational hookah diving, yacht based scuba air
compressor and Nitrox Generation Systems, and scuba and water
safety products. The Company sells its proprietary products both on
a wholesale and retail basis and is comprised of three highly
specialized dive product groups.
The Company is an industry leading manufacturing and
distribution company that serves middle income boat owners, higher
income yacht owners, recreational divers, military operators and
public safety personnel. The Company holds multiple patents and
enjoys a robust product development and intellectual property
program that has yielded several proprietary products. Many of
these products and innovations have become the "standard" for the
marine industry. The Company is known for its meticulous devotion
to detail, high quality production and design ingenuity. In the
boating and diving community, Brownie's is known as the market
leader when it comes to surface supplied "Third Lung" dive systems
and Scuba Tankfill Systems for yacht-based diving. Brownie's SCUBA
tank fill products support and service divers at all levels of the
underwater world, from shallow-water dive systems to deep-water
mixed gas rebreather support systems for exploration divers and
submariners.
In 2010, Brownie's introduced the first in a series of
patent-pending Variable Speed Battery Powered Third Lung "VS"
devices engineered to conserve energy while delivering performance
to the diver up to 3-times that of the nearest competitor. The VS
invention also incorporates a unique instant change battery swap
design enabling multiple dives per day.
OVERVIEW
Brownie's is a SEC reporting public company quoted on the OTC
Markets under the symbol "BWMG"
Unlike some of its peers in the highly competitive marine
industry that are no longer viable, the Company's management
recognized that some major strategic actions were necessary to
become profitable, maintain the Company's reputation and standing
in the marine industry, and to position the company to fully
monetize its patent portfolio. In order to accomplish this goal,
the Company has spent the last three years diligently
"right-sizing" its operations to properly match expenses with
revenue opportunities, reducing debt to improve its balance sheet,
and taking steps to improve its capitalization structure.
KEY METRICS
Current common shares outstanding (as of 17-April-2017)
|
73,493,896
|
|
|
• Shares held by CEO
|
15,419,242
|
• Shares held by CEO as percent of class
|
21%
|
• Closing share price on 26/April/2017
|
$0.016
|
• Market capitalization
|
$1,175,102
|
• Current ratio
|
1.1 to 1.0
|
• Revenues for year ended 12/31/2016
|
$2,264,134
|
• Net Income
|
$230,026
|
|
|
INVESTMENT HIGHLIGHTS
- Excellent and respected long term management committed to
shareholder value
- The Company has been profitable for the last three years
- Improving liquidity creates the opportunity for improved cost
of sale efficiencies, the opportunity to raise additional capital
and initiate a market development and new product/services
distribution and licensing strategy.
Safe Harbor Statement
This release contains forward-looking statements that can be
identified by terminology such as "believes," "expects,"
"potential," "plans," "suggests," "may," "should," "could,"
"intends," or similar expressions. Many forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results or implied by such statements. The Company's future
results may also be impacted by other risk factors listed from
time-to-time in its annual report on Form 10-K for the year ended
December 31, 2016, its most recent quarterly report Form 10-Q and
subsequent filings with the Securities and Exchange Commission.
Many factors are difficult to predict accurately and are generally
beyond the company's control. Forward-looking statements speak only
as to the date they are made and the Company does not undertake to
update forward-looking statements to reflect circumstances or
events that occur after the date the forward-looking statements are
made. The Company's SEC reports, including its quarterly and annual
reports, can be viewed at www.sec.gov.
Contact Information Robert Carmichael Chief Executive Officer
Robert@browniesmarinegroup.com 1-954-462-5570
Brownies Marine (PK) (USOTC:BWMG)
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