Brownie's Marine Group Inc (BWMG)

[Ecomike]

Time to deep dive into BWMG and load up while the market is asleep at the wheel. Thisis one of the most under valued stocks on OTC

[Ecomike]

Time to trade this stock at a dime folks.

$BWMG lets rock and roll fishies, time to whale on the ask.

The float could be bought at today's price for under $800K
which is just 10% of annual revenue, which is growing fast on a year to year basis.

Bottom is solid and has been for years now at this level.

Last 2021 rally high was 900% higher and all it took was me finding a handful retail folks to buy shares

Insiders are not selling, and holding for Nasdaq, because they have no exit on OTC, while they grow the company the right way.

$BWMG has not toxic debt, never has.

It is time, IMO to catch up with 5 months market bounce on OTC stocks..

[Ecomike]

$BWMG is one of the 2 most undervalued stocks on the market.

The float could be bought at today's price for under $800K
which is just 10% of annual revenue, which is growing fast on a year to year basis.

Bottom is solid and has been for years now at this level.

Last 2021 rally high was 900% higher and all it took was me finding a handful retail folks to buy shares

Insiders are not selling, and holding for Nasdaq, because they have no exit on OTC, while they grow the company the right way.

$BWMG has not toxic debt, never has.

It is time, IMO to catch up with 5 months market bounce on OTC stocks..

That was just me buying Friday BTW. I have just started.

[dickmilde]

I continue to see some things that are positive

Yes, it was a down quarter compared to last year but if you look at the details it was down primarily due to the Nomad recall. Adding that amount back in would give you a flat Q as far as sales go. I can make a case that the balance of the business is doing as good as could be expected given the overall economy.
Two other positive numbers I see is the 21.7% reduction in SG&A expenses and the 93.7 % reduction in stock based compensation. That's a good indication that management understands that keeping expenses under control is very important. To get these numbers down during the same time that sales are soft is a commendable accomplishment. Many businesses have a hard time reducing expenses when sales are soft.

My overall opinion is that management is doing a respectable job of running the business. I have said many times in the past that they need to find a way to increase sales. Right now the Fed is determined to continue the fight against inflation and the result will probably be a slower economy so it won't be easy.

[bwmgftw]

Closing the week out with a bullish reversal is first step to see share price stabilize. Hopefully the panic selling is over. We want to see above 1.2c end of week. I might buy a bit more here. My average is .02 so I am down a bit. Been able to buy back what I sold higher at least.

[megazoo]

Q1 ‘23 was 1.7 million in revenue
Q2 ‘23 was 2 million in revenue
If Q3 ‘23 and Q4 ‘23 are sequentially higher and they break even (now Constandine is not in the payroll, salary paid to him might bump this to positive eps.), the current price is totally surprising.

[ZNSTATED]

Looking like sub penny might be right around the corner

Never thought I'd see that come into play for this stock again.

This should get interesting

Z

[EL Sueno]

Than for the info Ecomike 0.10

[Ecomike]

There are stocks out there with market caps 10 to 100 times the Market cap of BWMG, that have little to no revenue, no product, no sales, and that have cash burns that are 100 times the cash burn of BWMG trading for $/s per share.

This stock needs eyes on it, and or needs to start turning a profit, or break even at least, and needs to stop printing shares like candy. Even so, this is one of the most undervalued stocks on OTC.

[Ecomike]

$BWMG 10-Q is out.

Market Cap is 1/2 of the annual revenue, when the Market cap should be 4 times the revenue.

[bman]

Agreed!

[BornAgain]

You make some good points, this is a bargain down here. All we need is some good news to get this started again. GLTA!!!

[Ecomike]

I agree, $BWMG is a steal down here, tiny float, market cap is a fraction of the revenue which is nuts.

Revenue growth has huge for some time now.

May be the most under valued, yet to bounce in this new young bull market, coming off of 12 months of a nasty market wide, FED Interest rate record increases, sell off.

An OTC markets OEM manufacturer, with patented products no one else has, with no debt, real revenue and revenue growth.

With CC not the CEO now, we should see a large annual drop in overhead(?). Maybe they can switch from selling shares to fund growth, to breaking even now?

I think the new line of diving rigs are shipping?

[bwmgftw]

I'm bullish down here, since everyone is bearish. Added 36k at 1.2cent. Near 6 year horizontal support. Nice risk vs reward.

[ZNSTATED]

I just saw a nifty little device on tiktok

Www.Lung tank.com

Z

[Ecomike]

It's alive and green. Well I'll be a suck egg mule. Gotta love the no news BWMG rallies off a way over sold bottom.

[EL Sueno]

Help did my work lets go up!!

[EL Sueno]

Lets Get Up Buy Buy 0.10

[megazoo]

Is this going to 0
This company had invented a market.

[EL Sueno]

2 years ago in Aug up 0.08Wow

[Ecomike]

Some body dumped 500K shares to 500K large bid at an insane price, at price we have nor seen in ages... Kind of shocked

[ZNSTATED]

Constable is stepping down and Robert is assuming the CEO post again. News came out today

Z

[bman]

Good comments. Agreed.

[dickmilde]

"any thoughts on this company..."
Actually my thoughts are much in line with anyone else that is holding BWMG stock. When the stock goes up the gains will be astronomical. But, as I have mentioned before, this is a " show me " stock. Or to put it in simple terms the financial results will need to improve before you can expect a higher stock price. The sales were improving at a good rate until the last quarter which had a one time event with the recall. But as I mentioned in my prior post I was disappointed that almost all parts of the business reported weak sales. I need to go back and read the release again but I don't remember any management discussion or explanation for that. BWMG seems to make high quality products that are preferred by divers so the slowdown in the sales are probably related to an overall economic condition rather than issues with the offerings. One down quarter doesn't make a trend so I will wait this out. Consumers have been hit hard with higher prices for everything so it seems reasonable that they need to be more cautious where they spend their money. Management seems to be doing all the right things... If they can get the sales up the margins will improve and that will be reflected in the stock price.

[megazoo]

DM, any thoughts on this company currently. Looks like this is going to be at least 3 year hold.
Have you heard anything from the company?

Thanks

[bman]

I had to get some of those .017 shares today.

BWMG!!!!

[bman]

Maybe we turn up this quarter. Still a bargain at today's price, IMO.

BWMG!!!

[dickmilde]

Disappointing quarter...
Everything was down for the quarter except Submersible Systems which was up 21.9%. But obviously not enough to keep overall sales from going negative. I expected Blu3 to be down but did not expect the negative results on the other lines of business. Brownie's manufacturers and sells fun toys... this makes it easier for buyers to delay a purchase...Consumers have been hit recently with some serious inflation on all the things they need so it remains to be seen when the economy returns to a more normal state if BWMG will participate.
I had mentioned some time back that " BWMG is a show me stock. " This is still the case. We will need to see improved results before more investors will buy the stock. Management has been very focused with a mindset to turn this into a profitable business so we will see how this all plays out with an improved economy. We are starting into the strong part of the year so we should expect to see improved results for Q2.

2023 Q1 -17.01%
2022 Q4 +37.7% Y/Y
2022 Q3 +80.2%
2022 Q2 +41%
2022 Q1 +108%
2021 Q4 +37% Y/Y
2021 Q3 -7%
2021 Q2 +31%
2021 Q1 +56%
2020 Q4 +54% Y/Y

[dickmilde]

"More revenue to come"
Given the recent trend we are looking forward to an increase in sales. Management seems to be well engaged to make this happen. But keep things in perspective... The recent recall certainly put a dent in Q1 sales and the new Nomad product has not been available for sale in Q1... Accepting pre-orders for the Nomad Mini was announced on April 21. We don't know when this will add to sales. Hopefully Q2 will see a positive impact.
The challenge will be increasing sales with a reasonable gross margin. An increase in sales will come from increased exposure of current product offerings, new product innovation and potentially acquisitions. We have seen positive results in all 3 areas.

[bman]

More revenue to come, IMO.

BWMG!!!!

[Lookingforareturn]

Brownie’s Marine Group’s Subsidiary, BLU3, Inc. Introduces Nomad Mini
Press Release | 04/21/2023
Pompano Beach, FL, April 21, 2023 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment and high-pressure air and industrial compressors in the marine industry, today announced that its subsidiary, BLU3, Inc is now accepting pre-orders for its newly launched battery-powered tankless dive system, Nomad Mini.

BLU3 has set new expectations with the unveiling of Nomad Mini, and its proprietary DiveBoost™ technology, providing additional depth, increased run time and enhanced performance.

“We incorporated feedback from current Nemo and Nomad users to design an innovative product that’s portable and lightweight like Nemo and Nomad but hits the sweet spot between portability and performance. It’s another successful step in our mission to bridge the gap between snorkeling and scuba diving. And we are excited to see Nomad Mini inspire more people to get under the surface,” said Blake Carmichael, CEO of BLU3, Inc.

Chris Constable, CEO of Brownie’s Marine Group stated “The BLU3 team continues to be the innovation leaders within Brownie’s Marine Group. With the development of the Nomad Mini, the BLU3 team carefully considered user feedback by maximizing proprietary technology to give divers an exceptional experience from start to finish. With the much-anticipated launch of Nomad Mini, we are certain to see BLU3’s products make a significant splash in the market.”

Nomad Mini pre-orders are being offered to BLU3’s dealer network, as well as consumers. Those who secure a spot in the month of April will receive a free DiveBoost Kit.

“BLU3 is a trailblazer in the portable tankless diving industry. In just a couple of years, the BLU3 team has mastered the evolution of portability with Nemo, Nomad and now Nomad Mini appealing to an even larger demographic. Echoing the technology of Nemo and Nomad, Nomad Mini boasts the same features users enjoy most with the addition of DiveBoost to further enhance performance and power,” said Robert Carmichael, Chairman of Brownie’s Marine Group.

The Nomad Mini is available for purchase at www.diveblu3.com/product/nomad-mini starting at $1,299

To learn more about Nomad Mini please visit : Introducing Nomad Mini! - YouTube

[bman]

Nice review. Only a matter of time, IMO, until BWMG gets a nice boost in share price. Things appear to be setting up for success, IMO. BWMG is still under the radar, I believe, and will emerge in good time.

BWMG!!!!!!

[ZNSTATED]

Looks good so far

Z

[mat23]

Got some movement today.

[megazoo]

Thanks for your usual detailed analysis. Another thing is HEED3 has taken off in sales. For 5 months of last year since its introduction, it did very well. A big government contract would be a big boost.

[dickmilde]

The year end report looks respectable...
YTD 2022 sales increased 37.7% and Q4 sales were down 31 % but that was almost entirely due to reduced sales in Blu3. It looks like the Nomad recall is well under way and the expense is identified.
In 2021 there was a gain of $276,000 related to a PPP loan that was forgiven. If you remove the $276,000 for the purpose of comparison the increase in the 2022 operating loss was only $28,424. Without the onetime recall there would have easily been a reduction in the operating loss. Point is that the operating activity seems to be on the right path for continued growth and eventual profitability. As a side note... It's good to see that the report was released on time without the NT filing asking for a delay.

The press release dated March 30 is very encouraging " we have some exciting new products on the horizon...".
https://www.sec.gov/Archives/edgar/data/1166708/000149315223009757/ex99-1.htm

Bottom line is that sales are increasing at a very respectable rate and new products should keep the trend in a positive direction. Margins will improve and investors will notice.

2022 Q4 +37.7% Y/Y
2022 Q3 +80.2%
2022 Q2 +41%
2022 Q1 +108%
2021 Q4 +37% Y/Y
2021 Q3 -7%
2021 Q2 +31%
2021 Q1 +56%
2020 Q4 +54% Y/Y

[EL Sueno]

Help lets go move to 0.04 today

[mat23]

Brownie's Marine Group Announces 37.7% Increase in Revenues for Fiscal Year End 2022
GlobeNewswireMarch 30, 2023
Pompano Beach, FL, March 30, 2023 (GLOBE NEWSWIRE) -- Brownie's Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment, redundant high pressure air rescue tanks and high-pressure air and industrial compressors in the marine industry, today announced results for the fiscal year ended December 31, 2022.


Chris Constable, CEO of Brownie's Marine Group, Inc. stated, "While we are happy to grow in excess of 37% for 2022, we were challenged with the BLU3 recall as well as talk of a recession, each affecting our ability to meet or exceed our growth of over 50% for 2021. With Compounded Annual Growth over the last three years of 42.3%, we are proud of our sales path. We believe that the Company has made it through the tough part of the recall and is beginning to see revenue climb back as well as recall related expenses have begun to taper off. The BLU3 team did an excellent job in assessing the issue, solving the issue, and putting a plan in place to ensure that anyone who returns their unit for repair will receive an improved system that will provide enjoyment for years to come. The larger economic issues will work themselves out, we have to do our best to ensure we continue to innovate and provide quality product that will continue to drive consumer demand." He continued " we have some exciting new products on the horizon, and one of our business units, Submersible Systems, Inc. has introduced an improved HEED3 model to the marketplace, which has been very well received in both the corporate and government customer segments. We are excited for what 2023 will bring."

Fiscal Year 2022 Highlights

Total revenue increased 37.7% to $8.58 million for FY-2022 vs. $6.23 million in FY-2021;
Submersible Systems contributed their first full year of revenue of $1,592 thousand for FY-2022.
LW Americas revenue increased 81.5% to $1,118 thousand for FY-2022 vs. $616.0 thousand in FY-2021;
BLU3, Inc. revenue increased 36.2% to $3.1 million for FY-2022 vs. $2.2 million in FY-2021;
Live Blue, Inc. contributed $212.9 thousand to revenue for seven months of activity within the Company;

[ZNSTATED]

10 k and 8 k dropped on time!

Z

[ZNSTATED]

News is basically guaranteed this week

Either

Year end report will be reported

Or

Year end report filing will be late

Z

[ZNSTATED]

Agreed

Z

[rbl100]

Well it is a shame. I think he started that Caveat Emptor board. He was young too. :(

[ZNSTATED]

Unfortunately I don't, been quite some time since i spoke with him

Z

[rbl100]

Trying to find out what happened to BRIBOY ? Do you know?

[Dallyb]

Thanks, I was overthinking it.lol

[ZNSTATED]

No worries

End of month

Z

[Dallyb]

Sorry for my ignorance, what does EOM mean?

[ZNSTATED]

Tick tock it shouldn't be much longer for the annual report to drop. EOM coming quick.

Hopefully we don't see the late filing report

Z

[BornAgain]

No new news from BWMG but plenty of press from them, hopefully we will get a positive update from them soon

[ZNSTATED]

Level II is looking pretty thin on the ask side

Hopefully they'll be releasing the kraken soon

Z