POMPANO BEACH, FL -- (Marketwired) -- 04/27/17 -- 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
