POMPANO BEACH, FL -- (Marketwired) -- 04/27/17 -- Brownie's Marine Group, Inc. (BWMG) ("Brownie's" or the "Company") and its wholly-owned subsidiary, Trebor Industries, Inc., d/b/a Brownie's Third Lung, based in Pompano Beach, Florida is an innovative and respected company that designs, tests, manufactures and distributes recreational hookah diving, yacht based scuba air compressor and Nitrox Generation Systems, and scuba and water safety products. The Company sells its proprietary products both on a wholesale and retail basis and is comprised of three highly specialized dive product groups.
The Company is an industry leading manufacturing and distribution company that serves middle income boat owners, higher income yacht owners, recreational divers, military operators and public safety personnel. The Company holds multiple patents and enjoys a robust product development and intellectual property program that has yielded several proprietary products. Many of these products and innovations have become the "standard" for the marine industry. The Company is known for its meticulous devotion to detail, high quality production and design ingenuity. In the boating and diving community, Brownie's is known as the market leader when it comes to surface supplied "Third Lung" dive systems and Scuba Tankfill Systems for yacht-based diving. Brownie's SCUBA tank fill products support and service divers at all levels of the underwater world, from shallow-water dive systems to deep-water mixed gas rebreather support systems for exploration divers and submariners.
In 2010, Brownie's introduced the first in a series of patent-pending Variable Speed Battery Powered Third Lung "VS" devices engineered to conserve energy while delivering performance to the diver up to 3-times that of the nearest competitor. The VS invention also incorporates a unique instant change battery swap design enabling multiple dives per day.
OVERVIEW
Brownie's is a SEC reporting public company quoted on the OTC Markets under the symbol "BWMG"
Unlike some of its peers in the highly competitive marine industry that are no longer viable, the Company's management recognized that some major strategic actions were necessary to become profitable, maintain the Company's reputation and standing in the marine industry, and to position the company to fully monetize its patent portfolio. In order to accomplish this goal, the Company has spent the last three years diligently "right-sizing" its operations to properly match expenses with revenue opportunities, reducing debt to improve its balance sheet, and taking steps to improve its capitalization structure.
KEY METRICS
Current common shares outstanding (as of 17-April-2017) 73,493,896
-- Shares held by CEO 15,419,242
-- Shares held by CEO as percent of class 21%
-- Closing share price on 26/April/2017 $0.016
-- Market capitalization $1,175,102
-- Current ratio 1.1 to 1.0
-- Revenues for year ended 12/31/2016 $2,264,134
-- Net Income $230,026
INVESTMENT HIGHLIGHTS
Excellent and respected long term management committed to shareholder value
The Company has been profitable for the last three years
Improving liquidity creates the opportunity for improved cost of sale efficiencies, the opportunity to raise additional capital and initiate a market development and new product/services distribution and licensing strategy.
