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Brownie's Marine Group's Test Platform for Steam Generation Technology for the Marine Industry Achieves Significant Milestone
Brownie's Marine Group, Inc. (OTCBB:BWMG), a leading developer, manufacturer and distributor of highly specialized dive and safety products, today announced that on May 25, 2012, the Molecular Impact Energy (MIE) steam generation system produced continuous steam without a conventional boiler apparatus. The MIE system was also successfully attached to a conventional double acting two-cylinder steam engine. Developing the test platform to prove the relative energy efficiency of the Molecular Impact Energy (MIE) invention and the eventual integration for the entire marine industry for which Brownie's has exclusive rights, is a key near-term goal of the Company.
Robert Carmichael, Brownie's CEO stated, "The test results in this first phase are extremely encouraging. To witness a piston type steam engine operate instantly on demand without a fuel boiler, goes a long way to demonstrating the practical advantages of MIE steam generator. The MIE boiler-free steam generation system utilizing a computer controlled MIE injector and chamber, eliminates the need for a traditional fuel fired boiler by creating high-grade steam in a molecular impact chamber; and accelerating the water to critical speeds instantly in a unique chamber. We believe the MIE process has the potential to be more energy efficient for converting water into steam than a conventional boiler system. The preliminary MIE design if successful, suggests that the system might be readily adaptable to small through large size yachts, commercial vessels, and island communities for direct or steam-electric drive systems and electric power production."
Test Results
The impact heating chamber, in this instance, used a single high pressure water injector and produced sufficient steam to drive the engine at about 70 rpm. The impact chamber employed in this test was the original device designed to validate the impact heating concept and is not the actual production system.
A significant accomplishment of the test was the instantaneous starting and stopping of the steam engine via computer control of the MIE system. The steam is generated instantly and on demand. This is an important concept, demonstrating the efficacy of a steam generation system that doesn't use a boiler.
The next version of the system will have four computer controlled ultra-high pressure injectors and will be capable of producing sufficient steam to run the engine at a rate adequate to drive the steam electric generator unit capable of producing 14 kilowatts of continuous electrical power.
Mr. Carmichael concluded, "This is a major step forward in proving the viability of this technology by utilizing the resources and knowledge we have developed at Brownie's, to conquer the energy efficiency challenges we all face. As we continue to progress on the MIE marine applications, and on other valuable patents we hold that we have yet to commercialize, we expect to substantially increase the enterprise value of Brownie's for our shareholders."
For more information on the MIE project see:http://browniesmarinegroup.com/mie-marine-energy-project
About Brownie's Marine Group, Inc.
Brownie's Marine Group, Inc. and its wholly owned subsidiary, Trebor Industries, Inc., d/b/a Brownie's Third Lung, based in Fort Lauderdale, Florida 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 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 more than ten 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 products and support service divers at all levels of the underwater world, from shallow-water dive systems to deep-water mixed gas support systems for exploration divers and submariners.
In 2011, Brownie's introduced the first in a series of patent-pending Variable Speed Battery Powered Third Lung (hookah diving) devices engineered to conserve energy while delivering performance to the diver.
Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These forward looking statements include potential commercialization of the MIE technology for marine applications, the viability of the MIE technology, the potential realization of new revenue streams from the MIE and other patent and license rights, and our success in obtaining venture partners to help fund the testing of the MIE technology These risk factors include, among others, limited operating history, our ability to obtain funding for the MIE project, and the efficacy of the MIE technology in marine applications, difficulty in identifying and marketing products, intense competition, substantially increasing the enterprise value of Brownie's, successfully commercializing other patents, generating new lucrative streams of revenue form the MIE, and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.
Wow. More News Today
Exactly.
He wouldn't take the stock if he saw it wouldn't be worthwhile.
Good post
P2D
Take $83,000 now or take it in stock that could be worth 10 times more later.
I would rather take the stock. If anyone knows what this company is capable of, he would.
P2D
- Current report filing (8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 4, 2012
BROWNIE’S MARINE GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada 333-99393 90-0226181
(State or Other Jurisdiction
of Incorporation) (Commission
File Number) (I.R.S. Employer
Identification No.)
940 N.W. 1 st Street, Fort Lauderdale, Florida 33311
(Address of Principal Executive Office) (Zip Code)
(954) 462-5570
(Registrant’s telephone number, including area code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.02 Unregistered Sales of Equity Securities
Effective May 31, 2012, the Company issued an aggregate of 6,944,444 shares of restricted common stock in satisfaction of $83,333.33 bonus payable to Robert Carmichael. The shares were valued at $0.012 per share, which equals the closing price of the Company’s common stock on May 31, 2012, as reported on the OTCBB. The Company relied upon exemption provided under Section 4(2) of the Securities Act of 1933, as amended, for the issuance of the common stock. The certificates representing the common stock contain legends restricting transferability absent registration or applicable exemption.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As disclosed above under Item 3.02, on May 31, 2012, the Company agreed to pay a bonus in the amount of $83,333.33 to Robert Carmichael for services performed. In satisfaction of the bonus payment, the Company issued Robert Carmichael 6,944,444 shares of restricted common stock. The shares of common stock were valued at $0.012 per share, which equals the closing price of the Company’s common stock on May 31, 2012, as reported on the OTCBB. Furthermore, effective May 31, 2012 the Company agreed to increase Robert Carmichael’s annual salary from $50,000 per year to $250,000 per annum for services as chief executive officer and chief financial officer. The incremental increase in the amount of salary of $200,000 per year shall be paid monthly, payable in restricted shares of the Company’s common stock. Such shares shall be valued at 70% of the monthly weighted average price of the Company’s common stock as reported on the OTCBB. The bonus and annual salary were approved by the Company’s board of directors.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Can't give a link. It's on my iPhone ihub app under news tab and it don't give a link. Just news.
Go BWMG
8k news out now.
Looks like Mr. Carmichael acquired another 6.9 million shares
What's that NEWS all about?
Weeeeeeeeeeeeeee!!!
Go BWMG
P2D
Look at NITE at .039.
Oh Yes!!!!
Seen that coming.
Let's go to 4's now
P2D
We close at or above HOD then tomorrow should be very interesting.
P2D
Sorry. WRONG CHART.
Here is the right one
P2D
http://stockcharts.com/c-sc/sc?chart=bwmg,uu%5Be,a%5Ddhclyiay%5Bdc%5D%5Bpb5!b10!b50!b100!b200!d20,2!h.02,.20!f%5D%5Bvc5!c20%5D%5Biut!lv8!lk9!LE12,26,9!ll14!la8,17,9!lah12,26,9!uc20!%3Cspan%20style=%27background-color:yellow;%27%3Eub14%3C/span%3E!ub14!lb5!lb2!lp7,3!lh9,3!LI14,3!lxa!lm12!ld8!lya7,14,28!lg14!lf14%5D%5Bj20444984,y%5D&r=3555b%5BBeachCracker%5D
Got some skin in the game here folks.
Charts are looking amazing and pointing north
It will be broken also. 2 days in a row that 20+ million dumped in less than 4 minutes each time. The only support I see is the posters here always come up with new scenarios and excuses to support the drop.
I would not be surprised at all to see that .009 fall tomorrow. All 20+ mil just like today and monday the 8's
P2D
So let's suppose that the RM is a flop. It appears that there is some massive dilution going on with MAXM today.
So there would be billions of shares here so a R/S would probably be in order to get the share count down.
The longer I am involved with this company the odds of my investment seem to be getting greater by the day.
Not bashing but from where I am it don't look good.
Why don't they use some of those diluted share money to let their shareholders know something.
I know they can't disclose anything about a RM
THERE'S NOTHING LIKE THE GUESSING GAME.
P2D
Bid amount didn't change
Wow!!!!!
Your post got me thinking about a deer story. My wife called me one day and said " (All Excited) Honey there are 3 deers in the back yard"
I said what kind? She said I'm not sure but two of them had "Bucks" on them.
I lost it. That was too funny.
Looking for a more positive move on those green candlesticks tomorrow.
Merger update would be awesome.
Go ASYI
P2D
Looks like 2 mil
1 mil hit on ask. NITE didn't budge
Short volume
http://regsho.finra.org/FORFshvol20120524.txt
The numbers before the .txt is a date code
2012= year.
05 = month
24 = day of month
Go ASYI
I like the profile pic..
Ric Flair is a wrestling icon.
I enjoyed watching him in his earlier days.
Wrestling just don't compare to the old days.
Just my opinion.
ASYI could be building up to a major move..
Are you ready... Wooo (as Flair would say)
Go ASYI
P2D
Last 3 trading days
Short Volume on 5/22 was about 34% of volume.
Short Volume on 5/23 was about 33% of volume.
Short Volume on 5/24 was about 20% of volume.
It appears that short volume is declining.
Maybe most have covered and we will see a turn around.
GO ASYI.
P2D
You talking about those things with all those colored lines and stuff on it?
That chart you posted shows the last 3 days volume in green.
My chart shows some red days the last 3 days.
That chart shows me nothing because its wrong.
Green volume days means that the SP went up...Don't it?
Do you think that anyone on this board thinks that your position is anything other than "dilution"?
How many different ways can one say dilution?
I think we "All" got it.
Now then...with all that being said.
I have been told for a long time that you can't trade penny stocks by the charts because they only apply mainly to big board stocks.
I haven't found that to be completely true but I have seen many cases where it wasn't in pennyland.
Are you trying to get your own chart indicator?
We can call it Linc2money Dilution Factor or LDF.
The indicator will be able to alert investors when they are about to make a bad investment and save them from their own demise. LOL.
I hate to be so critical about anyone but you have been riding that dilution train so long here that you should own the train company by now ...lol
Go ASYI...
Better days ahead... Hopefully Kooltel is a go.
GLTA
P2D
Linc2money...
What are you trying to say...I'm having a hard time picking up on it...
It seems like you are trying to say there is Dilution going on.
Maybe I'm not reading into it right.
It appears that you believe in dilution...You sure have been diluting this board with that stuff.
We will find out soon enough in the next filing whether or not you are right but in the meantime I am sure that everyone here appreciates you saving them from their terrible investment decisions.
Anyway, Looking for a move north tomorrow.
There is a lot of trading going on this week and I wouldn't be surprised to see a run back to the .002's tomorrow.
GLTA
Go ASYI.
P2D
You could be right about a green day tomorrow. We had .0011's on the bid today but I don't think any were filled. It appeared to be a pretty strong support at least I hope it was Extremely Strong and won't be broken...EVER!
The buying at EOD was great and it could carry into tomorrow.
Something has to give...This volume the last 4 days has been unbelievable and we all know that volume can make it explode either way...Hopefully tomorrow's volume will be make her go GREEN!!!!
Go ASYI,
P2D
That sounds great but ASYI isn't near .002. We are actually 42% away. I would assume that a stock near .002 would be in within a few ticks away +-1 or 2.
It would be great if you are right but I don't see it but who knows right. Maybe luck will be on our side tomorrow.
I would like to see some more of the buy action that we had at the end of trading today to carry throughout tomorrow's session. Now that would be great.
ClayTrader seems to believe that we could see a upward move soon according to the charts. I hope he is right because from where I am sitting it appears that the sentiment is "Down".
Another posters "Source" (No names mentioned...Don't want deleted) about Tuesday/Wednesday PR was apparently a Flop and poster is obviously no where to be found. It is apparent that he had an agenda that was in his favor.
My signature says...Believe half of what you see and None of what you hear...Especially on a message board...
I didn't go by my own advice and I believed the "Source" knew something...I fell for it as well as many others...Oh well, It is what it is.
I'm not crying over spilled milk. I will just average down. It's all good and I will chalk it all up to experience.
Gomer Pyle said..."Fool me once shame on you....Fool me twice Shame on me"!
Today was a bad day...Tomorrow will be better...Thankful that I was able to be a part of today whether it was good or bad. Many didn't get to witness this day and was taken from this world.
Good luck to all,
P2D
They are a private company and they want to go public.
Maybe it was a stipulation from Kooltel for the R/M to take place that ASYI had to be current in all filings before they would consider a R/M with us. Who knows...I don't. It's only speculation/opinion on my part.
It appeared to be critical that filings were on time for some reason.
Go ASYI
P2D
I use the ihub app for iPhone with a level 2 subscription of course. Actually small cap pro subscription + $5 more for streaming on iPhone
Go ASYI
Volume keeps going we will have another 70 million day and so far no big sell off after record volume on Friday.
Looking good
Go ASYI.
P2D
My Zecco account still messed up also. It's showing my ASYIE shares but $0 market value.
I assume it will be corrected by market open tomorrow with the "E" gone.
GO ASYI
Good to be in another winner with you.
Looking for a great week ahead.
Many here looking for an explosion next week.
On the conservative side of things... Steady rise is what I like to
see but an "explosion" is welcomed.
Good luck here man
Looking forward to your posts.
Go ASYI
P2D
My Zecco account not showing a market value for my ASYIE shares.
I assume they are removing the "E" and then it will show a value by Monday.
Looking so forward to next week. Hope to see copper soon.
GLTA
GO ASYI
OTCQB status now on Pinksheets.com.
Now let's get rid of that E
Ho ASYI
http://www.otcmarkets.com/stock/ASYIE/quote
What do you want to bet that the bid shares change when sells go through?
Go ASYIE
Totally saw that