"In order to be successful, you have to make sure that being rejected doesn’t bother you at all."
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Up 14% on heavier than usual volume is good news coming?
Brownie’s Marine Group Announces 70.2% Increase in Revenues for the YTD-2022 vs. YTD-2021
Nov. 08, 2022 3:35 PM ET
Brownie's Marine Group, Inc. (BWMG)
Pompano Beach, FL, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment, high-pressure air and industrial compressors and dive retailer in the marine industry, today announced results for the third fiscal quarter ending September 30st, 2022.
Chris Constable, CEO of Brownie’s Marine Group, Inc. stated, “We are very pleased with the continued growth of the Company through the third quarter, and we’re focused on closing out the balance of the year with a rigorous effort for year over year quarterly growth. Our third quarter focus was to make the most of our typical seasonal peak, supporting our customers with product and sales support to ensure a successful end to the summer season. We look for Q4 to show the normal seasonal adjustment to revenue and we continue to monitor the economic indicators, and the strength of the US dollar to adjust our operating plan, as necessary.”
Mr. Constable continued, “I’ve had some investors comment to me that all of our press releases are starting to sound the same, continued quarterly growth, etc., and I can appreciate that. One of the things that I want to point out is that in Q3-2019 we had revenues of $841 thousand and have grown revenues 330% through Q3-2022. We have been continuously expanding our markets, and carefully acquiring complimentary pieces, and I am very proud of our team for the operational success we have been having.”
Key Fiscal Q3-2022 Highlights vs. Q3-2021
¦ Total Net Revenues increased 80.2% to $2.81 million for Q3-2022 vs. $1.56 million in Q3-2021.
¦ LW Americas sales increased 193.9% to $350.8 thousand for Q3-2022 vs. $119.4 thousand for Q3-2021.
¦ BLU3, Inc. revenue increased 187.2% to $980.2 thousand for Q3-2022 vs. $341.3 thousand for Q3-2021.
¦ The Adjusted Net Income increased to $141.9 thousand for Q3-2022 vs. -$126.6 thousand in Q3-2021.
Key Fiscal YTD-2022 Highlights vs. YTD-2021
¦ YTD-2022 Revenue increased 70.2% to $7.19 million as compared to $4.22 million for the YTD-2021.
¦ LW Americas sales increased 52.9% to $897.9 thousand for YTD-2022 vs. $477.1 thousand for YTD-2021.
¦ BLU3, Inc. revenue increased 120.8% to $2.66 million for YTD-2022 vs. $1.20 million for YTD-2021.
¦ The Adjusted Net Income increased to $144.9 thousand for YTD-2022 vs. -$161.2 thousand in YTD-2021.
Select Financial Metrics: Three Months and Year to Date Ended Sept 30th, 2022, Comparisons
(In thousands) Q3-22 Q3-21 Change YTD22 YTD21 Change
Total Net Revenues $ 2,808.80 $ 1,558.71 80.20 % $ 7,185.02 $ 4,222.40 70.16 %
Legacy SSA Products – Brownies Third Lung $ 913.78 $ 976.90 -6.46 % $ 2,291.92 $ 2,419.90 -5.29 %
High Pressure Gas Systems – LW Americas $ 350.84 $ 119.39 193.86 % $ 897.85 $ 477.10 88.19 %
Ultra-Portable Tankless Dive Systems – Blu3 $ 980.17 $ 341.29 187.20 % $ 2,659.03 $ 1,204.30 120.79 %
Redundant Air Tank Systems – Submersible Systems $ 471.05 $ 121.13 NM $ 1,192.99 $ 121.10 NM
Guided Tour/Retail - Live Blue $ 92.96 - NM $ 143.23 - NM
Operating Income (loss) $ (272.60 ) $ (247.61 ) 10.09 % $ (1,025.68 ) $ (1,229.34 ) -16.57 %
Net Income (loss) $ (284.19 ) $ (89.80 ) 216.47 % $ (1,056.94 ) $ (1,071.47 ) -1.36 %
Adjusted Net Income (loss) $ 141.91 $ (126.64 ) 212.05 % $ 144.92 (161,178 ) 100.09 %
NM = not measurable/meaningful
Operational Highlights
¦ July 2022 – LW Americas added a new distribution partner in Mexico
¦ August 2022 – BLU3, Inc Shipped its 5,000th unit, as well as recorded it 1,000th shipment of the Nomad system.
Non-GAAP Financial Measures
This press release includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). We report adjusted net income (loss) to measure our overall results because we believe it better reflects our net results by excluding the impact of non-cash equity-based compensation. We believe the presentation of adjusted net income (loss) enhances our investors’ overall understanding of the financial performance of our business.
We believe that investors should have access to the same set of tools that we use in analyzing our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results.
The following is an unaudited reconciliation of adjusted net income (loss) to net income (loss) for the periods presented (YTD and Q3-2022 vs. YTD and Q3-2021):
Nine Months and Year to Date Ended September 30,
2022 2021
Net income (loss) (1,056,944 ) (1,071,465 )
plus:
Depreciation & Amortization 277,366 119,111
Shares issued for Interest 30,049 -
Stock issued for services 47,501 180,952
Stock-based compensation issued to CEO and employees 11,060 -
Stock-based compensation – options 835,892 779,824
Loan Forgiveness - (169,600 )
Adjusted net income (loss) 144,924 (161,178 )
Three Months Ended September 30,
2022 2021
Net income (loss) (284,190 ) (540,679 )
plus:
Depreciation & Amortization 103,943 54,134
Shares issued for Interest 7,001 -
Stock issued for services - 55,952
Stock-based compensation issued to CEO and employees - -
Stock-based compensation – options 315,153 303,949
Loan Forgiveness - -
Adjusted net income (loss) 141,907 (126,644 )
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has five subsidiaries focused on various sub-sectors of our industry, including Brownie’s Third Lung, Inc. in Surface Supplied Air, BLU3, Inc. in Ultra-Portable Tankless Dive Systems, LW Americas in High Pressure Gas Systems and Submersible Systems, Inc. in Redundant Air Tank Systems, and Live Blue, Inc. The Company’s wholly owned subsidiaries do business under their respective trade names on both a wholesale and retail basis from our headquarters and manufacturing facility in Pompano Beach, Florida, and a manufacturing facility in Huntington Beach, California.
For more information, visit: www.BrowniesMarineGroup.com.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on April 22,2022, and our other periodic and quarterly filings with the SEC.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954) 462-5570
investors@browniesmarinegroup.com
https://www.globenewswire.com/newsroom/ti?nf=ODY5MjMxMiM1MjUyMDkzIzUwMDAyNTU5OA==
https://ml.globenewswire.com/media/YWIwNjJmMzAtZTY1My00MmY1LTlmMWMtOGI1YmI2OTVjYWRjLTUwMDAyNTU5OA==/tiny/Brownie-s-Marine-Group-Inc-.png
https://ml.globenewswire.com/media/523b847b-8625-4ae3-bb7d-dda652519616/small/logo-png.png
Source: Brownie's Marine Group, Inc. (BWMG) 2022 GlobeNewswire, Inc.
https://seekingalpha.com/pr/19011823-brownie-s-marine-group-announces-70_2-percent-increase-in-revenues-for-ytdminus-2022-vs
The numbers are looking good! A nice PR could get this going!!!
The time to buy is now!
GLTA!!!
Fireside Chat: Electrovaya, Inc. (OTC: EFLVF, TSX: EFL) CEO Dr. Raj DasGupta
Description
Please join us for a conversation with Electrovaya CEO Dr. Raj DasGupta. He will provide an overview of recent events at the company. Join us to hear about:
• Preliminary revenue for 4QFY22, ending September 30, 2022.
• The selection of New York State as the location for its first US gigafactory, adding to its existing two Canadian facilities for the production of cells and batteries.
• An update on milestones and targets for FY23 and beyond.
Time
Nov 3, 2022 04:00 PM in Eastern Time (US and Canada)
https://us06web.zoom.us/webinar/register/7916661069300/WN_OehVN3nFTRK1ucdM6M3-HA
Electrovaya Is Scaling Production On Some Of The Safest, Longest-Lasting Lithium-Ion Batteries On The Market To Help Economies Meet Clean Energy Goals
by
Rachael Green
October 24, 2022 8:03 AM | 4 min read
https://www.benzinga.com/markets/penny-stocks/22/10/29376808/electrovaya-is-scaling-production-on-some-of-the-safest-longest-lasting-lithium-ion-batterie
Article in the Buffalo News...
Electrovaya plans $75 million lithium-ion battery plant in Chautauqua County
A Canadian maker of lithium-ion batteries plans to open a $75 million manufacturing plant in southern Chautauqua County that promises to employ 250 when fully staffed.
Electrovaya, a publicly traded company based in Mississauga, Ont., said it had chosen a former manufacturing plant near Jamestown for the project. The facility will make cells and batteries for transportation and utility storage, and is expected to open in fall 2023.
“We wanted to find an area of the state that was local to us and that we could grow with,” said John Gibson, the chief financial officer. “Jamestown’s a small town, but there’s a lot of small Canadian towns that just need that small push in order to get them going.”
Electrovaya’s project will give the company its first U.S.-based plant, while reviving a dormant manufacturing facility in the Town of Ellicott. Heidenhain closed an electronics and optics factory at the site in 2018, eliminating about 40 jobs.
Gibson said the facility, which contains clean rooms, perfectly suits Electrovaya’s needs.
“It requires very little in terms of upgrading to get ready for us to move in,” he said. “Essentially all we’re doing is purchasing equipment, having it commissioned and installed, and we’re off to the races.”
The facility has ample space to expand production as the market grows, and additional land if the company needs to add square footage, Gibson said. Plus, the facility is not far from Raymond Corp., a forklift maker and strategic partner based in Central New York.
Electrovaya plans to hire for a variety of jobs, including production workers, engineers and managers.
“I think what we want to do is kind of put Jamestown on the map as a kind of hub for not only lithium ion batteries, but renewable energy,” Gibson said. “We’re going to do our absolute best to promote the town and the surrounding area. There’s going to be a lot of jobs opening up there.”
The United States is about 90% of the total market for Electrovaya's products, he said. Opening a U.S. facility will allow the company to compete for sales that may have “buy-American” requirements attached to them, such as electric buses and trucks.
“This really opens the door for that side of the business,” Gibson said.
State officials hailed the project as an investment supporting New York State's goals to promote "clean tech" development. Empire State Development will provide up to $4 million Excelsior Jobs Tax credit program, which is tied to job creation at the plant. And the project will receive $2.5 million in Regional Council capital funding. It also has been granted low-cost hydropower from the New York Power Authority.
Electrovaya expects it will be eligible for other state funds, as well as federal funding from various sources.
In its most recent quarterly report, the company projected sales for its 2022 fiscal year, which wrapped up at the end of September, would be $21 million in U.S. dollars. Electrovaya projects that figure will rise to $44 million in its current, 2023 fiscal year.
The Chautauqua County plant will mark a significant step for a company that has been around since 1996, Gibson said.
“There’s been a lot of battery companies that have come and gone, but we’ve managed to stay around, stay relevant, and we’ve got no intentions on slowing down anytime soon," he said. "This isn’t, let’s roll the dice and come in and see what we can do over the next couple of years. This is, we’re coming here and putting our footprint in Jamestown.”
I kinda like this quote from Raj, he must be working on some deal or partnerships to help fund this plan.
Good luck to all, holding my shares very tight.
Nice Blog for BWMG!!!
Let's hope they weathered the storm safely, looks like they did, this blog post was posted today.
https://www.diveblu3.com/top-5-reasons-to-use-a-mini-scuba-system?utm_source=BLU3+Monthly&utm_campaign=fe302dbc2a-EMAIL_CAMPAIGN_2022_09_28_06_48&utm_medium=email&utm_term=0_06374ef09d-fe302dbc2a-75020115&goal=0_06374ef09d-fe302dbc2a-75020115&mc_cid=fe302dbc2a&mc_eid=e9b92c010d
Podcast: Electrovaya and the drive for safer and bigger batteries
By Stuart Fieldhouse 29th September 2022
Related Topics: Green stocks to invest in, Electrovaya [TSE:EFL]
https://www.thearmchairtrader.com/electrovaya-raj-das-gupta/
Squire, I have never seen a day like this before either up in the morning on huge volume and down at the close on small volume, something strange is happening here.
At first, I thought a trading group was getting in here because of the fact of a volume spike on no news. Then the walk down on low volume left me wondering what was really happening. My guess in the days to come we will find out what really is happening here. I am still holding here hoping for the best. This could go either way in the near future lots of good things are happening that could make this a winner. But it only takes one bad thing to make it go in the other direction.
GLTA!!!
Another CEO interview!!!
https://energy-cast.com/149-electrovaya.html
Marine Electric Vehicles Market is Slated to Witness Tremendous Growth in Coming Years | by Electrovaya, Corvus Energy, Duffy Electric Boat
By XheraldPublishedSeptember 12, 2022
New Jersey, United States – Analysis of Marine Electric Vehicles Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast
Marine Electric Vehicle Market is projected to arrive at USD 7,652.13 Million by 2028, developing growth during the conjecture time frame. The Marine Electric Vehicle Market is encountering phenomenal development in light of the fact that the interest in automated marine vehicles is developing dramatically. These Marine Electric Vehicles have many purposes in nautical and marine tasks. They are likewise helpful in diagramming and planning the sea floor, extricating valuable assets close to sea shores – a genuine illustration of this is a hydrocarbon, and doing significant and imperative logical exploration. They are helping oil organizations track down new and valuable wellsprings of oil underground. Their phenomenal submerged cameras make this conceivable.
The Marine Electric Vehicles market, which was valued at US$ million in 2022, is expected to grow at a CAGR of approximately percent over the forecast period, according to our most recent report.
Receive the Sample Report of Marine Electric Vehicles Market Research Insights 2022 to 2028 @ https://www.infinitybusinessinsights.com/request_sample.php?id=953464
State-run administrations all over the planet tried to contain this infection with brief lockdowns and measured isolations. These had restricted impact as far as containing the infection. They did, be that as it may, adversely influence many Marine Electric Vehicle markets and ventures. The Marine Electric Vehicle Market was one of these. Numerous producers of these vehicles found the natural substances expected to make them elusive. This raised the expense of delivering them. They had to sell these vehicles at a greater cost on the market. Significant oil and gas organizations are continually taking a gander at new regions to mine more unrefined petroleum and flammable gas in. since their customary sources are beginning to ‘evaporate’ they are seeking the ocean for assets. The ocean is to a great extent neglected and brings numerous assets to the table for organizations in numerous businesses. This is a significant driver of development in the Marine Electric Vehicle Market.
Producers of these Marine Electric Vehicles see genuine lucrative open doors as far as the kinds of organizations that will purchase their items. They are putting vigorously into innovative work. The goal is to make another age of submerged mechanical vehicles that have a greater number of purposes than the current age does. These vehicles are likewise expected to be cost-proficient and have a more prominent ROI. There is one variable that might keep down development in the Marine Electric Vehicle market. This is the way that assembling these submerged automated vehicles is extravagant. This powers makers to give the additional expenses for the people who get them as greater costs It deters many would-be clients from buying.
Segmentation
The battery-electric sub-section held the biggest Marine Electric Vehicle market share a long time back. This sub-fragment will have the most noteworthy growth until 2028. This is because of the way battery-electric controlled submerged vehicles are financially savvy. They are additionally reasonable, simple on the climate, and simple to keep up with. The expense of keeping up with these vehicles isn’t extremely high by the same token.
Of the two sub-fragments, the on-water sub-section had the most elevated Marine Electric Vehicle market offer and valuation in 2022. The submerged sub-fragment will have the most elevated growth until 2028. New interests in innovative work bring about better and all the more mechanically progressed automated marine vehicles with a larger number of purposes and applications than past ages of automated marine vehicles.
The tactical sub-section had the most elevated Marine Electric Vehicle market share in 2022. All things considered, the autonomous submerged submarine sub-fragment is supposed to enroll the most noteworthy growth until 2028. The justification for this is that numerous areas and businesses like the American military and safeguard, the oil and gas, and the natural insurance ventures are driving up interest for these vehicles at a dramatic rate.
Regional analysis
The North American district will have the most noteworthy regional growth until 2028. This makes sense of why it will have the most elevated regional Marine Electric Vehicle market share too. America, particularly, is home to many enormous automated marine vehicles. These incorporate Triton and Boeing.
The Asia-Pacific and Latin American locales are additionally expected to see solid growth. To be sure, the Marine Electric Vehicle market offers will be expanding considerably for the time span being examined. The militaries and different ventures in these locales are getting more extravagant. They need to purchase more successful and strong submerged vehicles that are mechanical for different purposes including maritime and research-based.
Key Players
Electrovaya
Corvus Energy
Duffy Electric Boat
Torqeedo GmBH
Triton Submarines
Ruban Bleu
Saft
Wärtsilä
Boeing
Click here to Download the full index of the Marine Electric Vehicles market research report 2022
Contact Us:
Amit Jain
Sales Co-Ordinator
International: +1 518 300 3575
Email: inquiry@infinitybusinessinsights.com
Website: https://www.infinitybusinessinsights.com
This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.
https://www.digitaljournal.com/pr/marine-electric-vehicles-market-is-slated-to-witness-tremendous-growth-in-coming-years-by-electrovaya-corvus-energy-duffy-electric-boat
Great day in trading for $ELFVF, 6-month high on volume and price today!
Ellicott holds special meeting for CDBG grant
https://www.observertoday.com/news/local-region/2022/09/ellicott-holds-special-meeting-for-cdbg-grant/
Sept 8, 2022
Ellicott holds special meeting for CDBG grant
The town of Ellicott is applying for state funding that will help Electrovaya, an electric bus manufacturer, to a vacant town business.
Ellicott Town Board members held a public hearing last week for a proposal to submit an application for a $750,000 Community Development Block Grant. Janet Bowman, town supervisor, said the CDBG grant will be used to purchase and install new machinery and equipment if it is approved by the state.
While the town held a special meeting with an opportunity for community members to attend and make public comments, Bowman said the meeting was not well attended.
“We had no one from the community in attendance at our meeting on August 30,” she said.
Despite the community’s lack of interest in the meeting and public hearing, Bowman said town officials accomplished the goal of the meeting. The board approved the resolution for the application of the CDBG grant.
After the board approved the grant, Bowman said she signed the grant application for the New York State Office of Community Renewal for an estimated $750,000. However, she explained the exact amount of the grant would be determined by the state.
“The grant is to be paid to Chautauqua Region Economic Development Corporation,” she said. “The CREDC will distribute to Electrovaya as loans.”
Electrovaya is a manufacturer and developer of portable lithium-ion batteries that recently received the Gov. Kathy Hochul’s support for expansion through the New York Power Authority.
The company’s proposal to develop a manufacturing facility in Jamestown for domestically produced cells and modules for electric buses could eventually expand to over 300 job opportunities in the manufacturing sector.
Bowman said the CDBG grant will have a positive impact on the community by providing additional job opportunities.
“The benefit to the town is an estimated 65 new employment positions,” she said.
In addition to passing the resolution for the application of the CDBG grant for Electrovaya, the town board also passed a resolution in support of a second public hearing for Jamestown Advanced Products Corporation’s completed CDBG.
The town’s second public hearing for Jamestown Advanced Products Corporation’s CDBG is scheduled for Sept. 19 at 6 p.m.
Thanks for that article Paulifer, I like the last line in that article.
That would be the ideal thing to do up-list to a better exchange without doing a reverse split!
GLTA!!!
CHARGING INTO THE ENERGY TRANSITION: AN INTERVIEW WITH CANADIAN BATTERY TECHNOLOGY COMPANY ELECTROVAYA
Produced by ARC Energy Research Institute | September 6, 2022
https://www.arcenergyinstitute.com/charging-into-the-energy-transition-an-interview-with-canadian-battery-technology-company-electrovaya/
The third Interview in the past week with Electrovaya, this one is a podcast. Raj is getting the word out on $EFLVF.
Electrovaya (EFL), EFLVF CEO Raj Gupta Pitch, Deep Dive, Q&A
Electrovaya (TSX: EFL, EFLVF) Interview with CEO Raj DasGupta
I don't see the replay of the video yet when it comes available I will post it. BTW the interviewer did a good job on the Q & A! He did hit on the subject of the Jamestown property, Raj said that they didn't purchase the property, only secured it! It is hopefully still on their radar and may be announced when and if they purchase it. He sounded like they have a few irons in the fire so keep an eye on their PRs.
GLTA!
That sounds like great news for the company and could be one of the reasons why EFLVF brought the property in Jamestown, NY.
BTW welcome to the board!
Looking forward to the Q & A this Wednesday.
On a technical look, the chart looks like it's ready for a major move upwards.
https://www.barchart.com/stocks/quotes/EFLVF/opinion
Maybe we can some clarity on the Jonesville site next week:
1. Do we have any partners involved in this site?
2. Is this going to be in addition to the Canada site?
3. Will they need to raise cash to pay for this site?
4. Will they be selling ESS batteries to NYS which is very close to Niagra falls power plant?
$EFLVF ~ New Presentation
https://electrovaya.com/wp-content/uploads/2022/08/Final-Electrovaya-Corporate-Presentation-Aug-17-2022-Website..pdf
also NEW Q&A
Webinar - Electrovaya Inc. $EFL w/ CEO Rajshekar Dasgupta
Wed, August 31 at 2pm ET / 11am PT
Q&A with Radius Research
Register Here - https://us02web.zoom.us/webinar/register/4316613590958/WN_P-iXJjrmRTK0blFIFSQRIw
CEO Rajshekar Dasgupta discusses EFL's proprietary Lithium Ion Ceramic Battery Technology for mobility and grid storage solutions.
Brownie’s Marine Group Announces 64.3% Increase in Revenues for the H1-2022 vs. H1-2021
Press Release | 08/22/2022
Pompano Beach, FL, Aug. 22, 2022 (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 results for the second fiscal quarter ending June 30st, 2022.
Chris Constable, CEO of Brownie’s Marine Group, Inc. stated, “The Company continues its strong growth path, and we’re very pleased with our trajectory through the second quarter. The BLU3 division continues to be our fastest area of growth and would have likely shown additional growth had it not been for some supply chain issues in June that created some back-orders.” Mr. Constable continued, “We are excited about the addition of Live Blue to our roster of companies, and we expect this division to capitalize on the popularity of the BLU3 product line and change the way that people enter the water and comfortably explore the underwater world.”
Fiscal Q2-2022 Highlights vs. Q2-2021
Net Revenues increased 40.2% to $2.40 million for Q2-2022 vs. $1.71 million in Q2-2021;
The Adjusted Net Income(1) increased 109.1% to $89.5 thousand for Q2-2022 vs. $42.8 thousand in Q2-2021;
H1-2022 Revenue increased 64.3% to $4.37 million as compared to $2.66 million for H1-2021
BLU3, Inc. revenue increased 94.5% to $1.68 million for H1-2022 vs. $863.0 thousand for H1-2021;
LW Americas revenue increased 52.9% to $547.0 thousand for H1-2022 vs. $357.7 thousand for H1-2021;
Select Financial Metrics: Three Months and Year to Date Ended June 30th, 2022, Comparisons
(in thousands) Q2-22 Q2-21 Change H1-22 H1-f21 Change
Total Net Revenues $ 2,401.24 $ 1,712.92 40.18 % $ 4,376.20 $ 2,663.70 64.29 %
Legacy SSA Products – Brownies Third Lung $ 797.02 $ 976.97 -18.42 % $ 1,378.10 $ 1,443.01 -4.50 %
High Pressure Gas Systems – LW Anerica’s $ 270.20 $ 207.57 30.17 % $ 547.01 $ 357.69 52.93 %
Ultra-Portable Tankless Dive Systems – Blu3 $ 884.27 $ 528.38 67.35 % $ 1,678.90 $ 862.98 94.55 %
Ultra-Portable Tankless Dive Systems – Submersible Systems $ 399.48 - NM $ 721.90 - NM
Guided Tour/Retail - Live Blue $ 50.27 - NM $ 50.27 - NM
Operating loss $ (319.14 ) $ (247.61 ) 28.89 % $ (753.04 ) $ (694.78 ) 8.39 %
Net loss $ (328.66 ) $ (89.80 ) 265.99 % $ (772.75 ) $ (530.79 ) 45.58 %
Adjusted Net Income (loss)(1) $ 89.53 $ 42.85 108.96 % $ 3.02 $ (34.53 ) 108.74 %
NM = not measurable/meaningful
Operational Highlights
May 2022 – BWMG closed on the acquisition of the assets of Gold Coast Scuba, Inc. and launched its new subsidiary, Live Blue, Inc.
Non-GAAP Financial Measures
This press release includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). We report adjusted net income (loss) to measure our overall results because we believe it better reflects our net results by excluding the impact of non-cash equity-based compensation. We believe the presentation of adjusted net income (loss) enhances our investors’ overall understanding of the financial performance of our business.
We believe that investors should have access to the same set of tools that we use in analyzing our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results.
Unaudited reconciliation of adjusted net income (loss) for the periods presented(1) Six Months Ended June 30,
2022 2021
Net income (loss) $ (772,754 ) $ (530,786 )
plus:
Depreciation & Amortization $ 173,423 $ 64,977
Shares issued for Interest $ 23,048 -
Stock issued for services $ 47,501 $ 125,000
Stock-based compensation incentive bonus shares issued to CEO and employees $ 11,060 -
Stock-based compensation – options $ 520,739 $ 475,875
Loan Forgiveness – PPP and other - $ (169,600 )
Adjusted net income (loss) $ 3,017 $ (34,534 )
Unaudited reconciliation of adjusted net income (loss) for the periods presented(1) Three Months Ended June 30,
2022 2021
Net income (loss) (328,662 ) (89,805 )
plus:
Depreciation & Amortization 81,375 34,880
Shares issued for Interest 23,048 -
Stock issued for services 12,001 -
Stock-based compensation incentive bonus shares issued to CEO and employees 11,060 -
Stock-based compensation – options 290,705 257,370
Loan Forgiveness - (159,600 )
Adjusted net income (loss) 89,527 42,845
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has five subsidiaries focused on various sub-sectors of our industry, including Brownie’s Third Lung, Inc. in Surface Supplied Air, BLU3, Inc. in Ultra-Portable Tankless Dive Systems, LW Americas in High Pressure Gas Systems and Submersible Systems, Inc. in Redundant Air Tank Systems, and Live Blue, Inc. The Company’s wholly owned subsidiaries do business under their respective trade names on both a wholesale and retail basis from our headquarters and manufacturing facility in Pompano Beach, Florida, and a manufacturing facility in Huntington Beach, California.
For more information, visit: www.BrowniesMarineGroup.com.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on April 22,2022, and our other periodic and quarterly filings with the SEC.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954) 462-5570
investors@browniesmarinegroup.com
Stockmule, and scubaboard.com looks like a great place for BWMG to advertise their products. Hopefully, they are on it already.
Someone came in today with a nice 1 million share purchase, maybe the first of many large buys, earnings due next week?
Good to see they are trying to expand the exposure of their Nemo products would love to see it on some TV shows like Under Deck, or some in use on some yachts where they can expose it to 1000's of viewers. At least they are starting to spread the word on Nemo.
GLTA!!!
BWMG-subsidiary-Live-Blue-Inc-Launches-Guided-Tours-Featuring-Tankless-Diving
Pompano Beach, Fla., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Brownie’s Marine Group Inc’s (OTCQB: BWMG) wholly owned subsidiary, Live Blue, Inc. is launching a unique underwater experience this summer with guided tours featuring their sister company BLU3’s tankless diving system, Nemo.
Divers who participate in the underwater experience will use BLU3's Nemo dive system, which is a battery-powered, custom-designed compressor designed to float right behind and above divers. Tankless scuba diving combines the simplicity of snorkeling and the thrill of scuba diving.
The guided tour is a diving experience designed for those who have previously snorkeled. Participants will have the opportunity to adventure alongside an authorized Live Blue dive guide. The guide will provide hands-on training and guidance so newcomers can learn to comfortably dive at 10 feet for 45 minutes. The tour serves as an excellent introduction to diving while bridging the gap between snorkeling and diving. During the tour, divers will be able to immerse themselves in the underwater world without the hassle and weight of heavy scuba gear/equipment.
Participants will watch a 15-minute introductory video either before arriving or upon arrival at the guided tour location. Then, they will meet up with their dive guide to go over lessons, skills and drills before heading off to explore. Participants will then follow their dive guide through a thrilling underwater adventure.
Divers who participate in a guided tour will have the chance to be introduced to the Nemo product and the underwater world that awaits without having to purchase the system. However, divers can put some of the guided tour fee toward the purchase of a Nemo system.
"The Live Blue experience is the culmination of what we have been working toward at Brownie’s Marine Group." said Chris Constable, CEO of Brownie’s Marine Group. "Live Blue gives customers the opportunity to enjoy the underwater world with a qualified guide. Our differentiator from other tourist type dive experiences is that the customer is given an opportunity to purchase one of our units right after finishing their tankless dive adventure, bring value to the tour operator and to the manufacturer, BLU3"
The guided tour location in Lauderdale-by-the-Sea is just the first of what will be many similar locations around the world. More Florida locations are expected to open soon with more announcements coming in the near future.
With this pilot program, Live Blue also is inviting new tour operators to come and learn their processes and guidelines. If you are interested in becoming a Live Blue Dive Guide, visit goliveblue.com to apply.
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has five subsidiaries: Brownie’s Third Lung; BLU3, Inc.; LW Americas; Submersible Systems, Inc.; and Live Blue, Inc. The Company is headquartered in Pompano Beach, Florida.
For more information, visit: www.BrowniesMarineGroup.com.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954) 462-5570
investors@browniesmarinegroup.com
https://www.globenewswire.com/news-release/2022/08/01/2489495/0/en/Brownies-Marine-Group-Inc-OTCQB-BWMG-subsidiary-Live-Blue-Inc-Launches-Guided-Tours-Featuring-Tankless-Diving.html
Welcome to the board, this could prove to be very interesting! I guess we will get some clarification in the next 10Q should be very soon, I believe that the next ER is due on Aug 8th.
GLTA!!!
$EFLVF ~ E-bus battery maker eyes county Jamestowns
Jul 27, 2022
John D'Agostino and John Wittaker
editorial@observertoday.com
Electrovaya, a developer and manufacturer of portable lithium-ion batteries, is expected to be the new tenant of the former Acu-Rite building at 1 Precision Way, Ellicott.
That is believed to be the case after Gov. Kathy Hochul announced a hydropower allotment to Electrovaya from the Niagara Power Project through the New York Power Authority.
Electrovaya, a developer and manufacturer of portable lithium-ion batteries, is planning a 135,000 square-foot expansion project in the city to operate lithium-ion cell manufacturing and battery module assembly equipment. The hydropower allocation approved at Tuesday’s NYPA board meeting will support Electrovaya’s expansion, spurring $40 million in capital investments. According to NYSERDA, Electrovaya is proposing a manufacturing facility in Jamestown to make domestically produced cells and modules tailored for electric buses.
Electrovaya is expected to create 50 direct manufacturing jobs in Jamestown in its first year and has the potential, according to company officials, to expand to more than 300 jobs. County IDA officials said during a previous meeting that Sustainable Energy Jamestown may come back to the IDA once a tenant had been secured, so the Electrovaya project may come back to county development officials again. Mark Geise, county IDA director, described the new owners last month as “a group of investors that have been formed to purchase the building.”
The company is working to increase its financial viability, with revenue expected to double in 2022 to between $21 and $25 million.
March revenue increased 47% from 2022 to 2021 and purchase orders total $25 million (American). The company has also received a needed credit increase.
“It is anticipated that sales will grow rapidly in the second half of fiscal 2022 as production has ramped up to meet existing demand,” said Richard Halka, Electrovaya executive vice president and chief financial officer. “As Sankar (Das Gupta, Electrovaya chairman and CEO) has mentioned purchase orders in hand for delivery currently exceed $25 million (American) or $31.5 million (Canadian). As Sankar also mentioned, the impact of supply chain issues and inflationary pressures was evidenced in our gross margin for Q2 2022, 25% compared to 32% for Q2 2021. The decrease was due to a number of factors including inflationary pressures on material cost increased shipping on logistics costs and foreign exchange movements.”
Electrovaya has developed a proprietary lithium-ion battery technology possessing a combination of high energy capacity, long cycle life, and operational safety. The resulting battery systems are suited for vehicles operating over 12 hours per day and requiring at least one full charge cycle per day, including e-buses and e-trucks.
“Just today the bus market, the electric bus market, is a very small market compared to the materials handling market,” Das Gupta said during a recent earnings conference call. “The materials handling market it’s tens of billions of dollars. And the bus market — I know the press likes it and people like it because they can see buses running around every day. But it’s a very small market today. However, the market will grow quickly we hope as Washington D.C. and others places start opening up their — the demand to the climate change — various programs. So … our feeling is our technology should become the industry standard for any heavy-duty vehicles.”
https://www.observertoday.com/news/page-one/2022/07/e-bus-battery-maker-eyes-county-jamestowns/
What Kind Of Investors Own Most Of Electrovaya Inc. (TSE:EFL)?
Simply Wall St
Sat, July 23, 2022 at 8:20 AM
In this article:
EFLVF
+0.75%
Every investor in Electrovaya Inc. (TSE:EFL) should be aware of the most powerful shareholder groups. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.
Electrovaya is not a large company by global standards. It has a market capitalization of CA$129m, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions don't own many shares in the company. Let's delve deeper into each type of owner, to discover more about Electrovaya.
See our latest analysis for Electrovaya
ownership-breakdown
ownership-breakdown
What Does The Institutional Ownership Tell Us About Electrovaya?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
Institutions have a very small stake in Electrovaya. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. We sometimes see a rising share price when a few big institutions want to buy a certain stock at the same time. The history of earnings and revenue, which you can see below, could be helpful in considering if more institutional investors will want the stock. Of course, there are plenty of other factors to consider, too.
earnings-and-revenue-growth
earnings-and-revenue-growth
Electrovaya is not owned by hedge funds. Our data suggests that Sankar Gupta, who is also the company's Top Key Executive, holds the most number of shares at 35%. When an insider holds a sizeable amount of a company's stock, investors consider it as a positive sign because it suggests that insiders are willing to have their wealth tied up in the future of the company. In comparison, the second and third largest shareholders hold about 1.6% and 0.8% of the stock. Note that two of the top three shareholders are also Top Key Executive and Member of the Board of Directors, respectively, once again pointing to significant ownership by company insiders. Furthermore, CEO Rajshekar Gupta is the owner of 0.5% of the company's shares.
A deeper look at our ownership data shows that the top 10 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There is some analyst coverage of the stock, but it could still become more well known, with time.
Insider Ownership Of Electrovaya
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
It seems insiders own a significant proportion of Electrovaya Inc.. It has a market capitalization of just CA$129m, and insiders have CA$50m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.
General Public Ownership
The general public -- including retail investors -- own 60% of Electrovaya. This size of ownership gives investors from the general public some collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Electrovaya better, we need to consider many other factors. To that end, you should learn about the 3 warning signs we've spotted with Electrovaya (including 1 which is significant) .
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
>
https://finance.yahoo.com/news/kind-investors-own-most-electrovaya-122030603.html
I agree with you, this guy is the right guy to lead this company to the next level, he is ready. Things are falling in place for a big move to the upside.
BTW there is another interview being scheduled tomorrow with another guy, I got this from another board. The more eyeballs on this the better it gets, after all this is a small company, that is waiting to be discovered.
GLTA!!!
Not a bad trading day in EFLVF today, nice volume, and the volume has been trending higher in the last few weeks. Volume usually precedes price looking for a decent share price increase going into earnings and beyond.
GLTA!
The next person who speaks with Jason Roy from IR, we should find out if this new plant is still scheduled for 2023. This could be a big deal for the company, to open a plant in New York!
Welcome back! You're in time for the $1.00 party, I'm going to hang around for the $2.00 party or maybe even the $3.00 party.
GLTA!!!
$EFLVF continuing its upwards move today, some nice comments on SA
https://seekingalpha.com/news/3855024-electrovaya-receives-11m-battery-order-for-materials-handling-evs#scroll_comments
Geo, I like your comment from Darp Research, on the SA article from yesterday...
https://seekingalpha.com/news/3855024-electrovaya-receives-11m-battery-order-for-materials-handling-evs#scroll_comments
EFLVF is up 22% on great news!
https://www.stck.pro/news/EFLVF/30735735