Brownie s Marine Group Inc (BWMG) |
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Price: $0.0108
$0.00
-13.600%
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Day's High:
| $0.0108
| Week Perf:
| -13.6 %
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Day's Low: |
$ 0.01 |
30 Day Perf: |
20 % |
Volume (M): |
8 |
52 Wk High: |
$ 0.03 |
Volume (M$): |
$ 0 |
52 Wk Avg: |
$0.02 |
Open: |
$0.01 |
52 Wk Low: |
$0.01 |
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Market Capitalization (Millions $) |
5 |
Shares
Outstanding (Millions) |
437 |
Employees |
11 |
Revenues (TTM) (Millions $) |
8 |
Net Income (TTM) (Millions $) |
-2 |
Cash Flow (TTM) (Millions $) |
0 |
Capital Exp. (TTM) (Millions $) |
0 |
Brownie S Marine Group Inc
Brownie’s Marine Group, Inc., a Florida corporation, does business through
its wholly owned subsidiary, Trebor Industries, Inc., d/b/a Brownie’s
Third Lung, a Florida corporation. The Company designs, tests, manufactures
and distributes recreational hookah diving, yacht based scuba air compressor
and Nitrox Generation Systems, and scuba and water safety products. BWMG sells
its products both on a wholesale and retail basis, and does so from its headquarters
and manufacturing facility located at 3001 NW 25th Avenue, Suite 1, Pompano
Beach, Florida 33069. The Company’s common stock is quoted on the OTC
Markets under the symbol “BWMG”.
From a garage based business making hookah diving systems in the late 1960s,
the Company has grown into a niche manufacturing and distribution company with
dive-oriented products loosely classified into three categories: Brownie’s
Third Lung (low pressure hookah systems), Brownie’s Tankfill (high pressure
and mixed gas systems), and Brownie’s Public Safety (first-responder/emergency
personnel systems). The Company serves middle income boat owners, higher income
yacht owners, and recreational, military and public safety divers.
The Company strives for meticulous attention to detail and high quality product
innovation. We believe that within the boating/diving industry Brownie’s
Marine Group is known as the industry standard for surface supplied “family”
dive systems and Scuba Tankfill Systems for yacht diving. Brownie’s products
and support services range from shallow-water dive systems and extend into deep-water
with mixed gas support systems for exploration divers and submersibles/submarines.
The Company holds numerous patents and is dedicated to designing and building
the world’s finest and most innovative products, and to setting the industry
standard for the world’s best yacht-based diving systems. While Brownie’s
Third Lung hookah diving units were the very first product sold by the Company,
the Company recognized early on that there was a need for tank filling systems
and unique diving applications. This realization was the catalyst for the addition
of the two product categories: Brownie’s Tankfill and Brownie’s
Public Safety. Brownie’s Tankfill designs, builds, and sells diving solutions
from marine-ready tank filling compressors, Nitrox Makers™, complete dive
lockers, and full submarine support systems. Brownie’s Public Safety features
highly specialized diving gear for rescue and safety professionals and a unique
automatic floatation device for body-armor that can also be integrated into
foul weather jackets, traditional load bearing harnesses and other garments,
such as the Garment Integrated Personal Flotation Device (GI-PFD) for use with
body armor. The following paragraphs further describe the business and sales
models for each of the categories of products sold:
Brownie’s Third Lung hookah systems have long been a dominant figure in
gasoline powered, high-performance, and feature rich hookah systems. Taking
full advantage of the proprietary compressor system, a complete series of traditional
“fixed speed” electric compressors were developed for the built-in-boat
market in 2005. Prior to 2010, Brownie’s did not offer for sale a floating
battery powered hookah due to the inadequate performance/runtime afforded by
previous technology. After years of inventing, testing and development, Brownie’s
introduced multiple battery powered models in 2010 that we believe provide performance
and runtimes as great as 300% better than the best devices previously on the
market by utilizing a variable speed technology that controls battery consumption
based on diver demand. Our variable-speed battery powered hookah system provides
divers with gasoline-free all day shallow diving experiences.
Brownie’s Tankfill designs, manufactures, sells and installs Scuba tank
fill systems for on-board yacht use under the brand “Yacht-Pro™”.
Brownie’s Tankfill provides complete diving packages and dive training
solutions for yachts. Brownie’s Tank Fill installs Nitrox systems which
allow yacht owners to fill tanks with oxygen enriched air on board. The Yacht-Pro™
compressor systems offer a completely marine-prepared, VFD (variable frequency
drive)-driven, automated alternative to other compressors on the market. Brownie’s
Tankfill also designs complete dive lockers, mixed gas production and distribution
systems, and the unique Nitrox Maker™. Nitrox is oxygen-enriched air,
which reduces the effects of nitrogen on divers; it is the industry standard
for dive professionals. The Nitrox Maker™ continuously generates the oxygen
rich breathing gas directly from low-pressure air; no stored oxygen or other
gases are required onboard. We believe a parallel product analogy to this device
is the fresh water-maker that swept through the yachting industry over the last
two-decades. While less yacht owners may opt for diving systems then fresh water-makers,
there is a broad market potential for yacht owners that will want to have an
uninterrupted supply of the premium breathing gas. Recently, an increase in
commercial NitroxMaker™ system sales has been seen as more diving operations
and operators are responding to the demand from their customers to provide nitrox
at diving destinations. In addition to the traditional yacht-based NitroxMaker™
systems the Company has now established a full line of commercial products to
meet this need, the NMCS series.
Brownie’s Public Safety designs, manufactures, distributes, and sells
the RES (Rapid Entry System)/ HELO™ system, a complete mini SCUBA system
designed for quick water rescues. The HELO™ system can be donned in less
than 60 seconds and stored in a briefcase-size padded bag. Brownies Public
Safety includes the GI-PFD™ (Garment Integrated Personal Flotation Device™)
System for body armor flotation. This system can reliably support the distressed
or unconscious wearer in a true life-saving position. This patented device addresses
a need as law-enforcement, coast guard and military personnel are beginning
to wear heavy (life-threatening in the water) body armor during waterborne patrol,
inspection, and surveillance missions. The system helps the personnel float
in heavy armor, hopefully saving their lives. The Company is not currently pursuing
aggressive expansion into this market until it has sufficient working capital
to do so.
Currently, we believe that no company in the dive industry offers a complete
line of products and services to serve all divers’ needs. The dive equipment
manufacturing industry is highly fragmented with multiple manufacturers producing
very similar products. The top-ten volume leaders in the dive manufacturing
industry provide the same product mix: Scuba BC’s (buoyancy compensators),
regulators, gauges, masks, fins, snorkels, wetsuits, and a few of the necessary
accessories. These mature companies offer the product selection to the “diving”
market.
New markets and classes of divers have developed over the years. The sport sector
of Third Lung and Kayak diving have emerged as a result of snorkel divers that
wanted to sustain depth or Scuba divers that wanted more time in shallow waters
with enhanced efficiency.
Company Address: 3001 NW 25th Avenue Pompano Beach 33069 FL
Company Phone Number: 462-5570 Stock Exchange / Ticker: BWMG
BWMG is expected to report next financial results on March 29, 2024. |
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Customers Net Income fell by |
BWMG's Customers Net Profit Margin fell to |
-78.51 % |
1.63 %
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