Replies to post #14355 on Brownie's Marine Group Inc (BWMG)

[Shortnlongs]

Did you read the Q? Not good. Revenue is up but cost of revenue is more than profit. 250K of additional loss due to additional revenue? Company can't afford to do more business. New shares on market and debt is real. I do nto expect a bump here at all and would not be suprised if longs start to relize this may be a bagholder situation. Dollar is high/Gold is low.

[geodan]

Hi T, Yes Revenue up a lot and 3Q coming up normally is the best Q. Right now company is investing in BLU3, the battery dive systems are just starting with Sea Lion, which as prior PR said are selling well. Lots of things in oven right now. Be great when the BLU3 line is introed and sold, IMHO.

Below says our portable shallow dive system currently under development. It should really say portable shallow dive systems, Nemo, Nomad and as Sea Lion has multiple models the same may happen with our future models.

Results of Operations for the Three Months Ended June 30, 2018, as Compared to the Three Months Ended June 30, 2017


Net revenues. For the three months ended June 30, 2018, we had net revenues of $650,318, a 32% increase over the second quarter 2017. The bulk of this increase was attributable to sales in our BHP subsidiary formed in August 2017. This subsidiary was formed to commercialize our exclusive distribution agreement with L&W. Under this agreement, the Company has exclusive distribution rights for North America, South America and the Caribbean. While there can be no assurance, the Company expects revenues to increase in the future. Related party revenues declined by approximately 33% between periods as a result of a decrease in demand of our recreational dive products, primarily attributable to exceptionally heavy rain conditions in the United States] in April and May of 2018.


In December 2017, the Company formed a new wholly-owned subsidiary, bLU3, Inc. The Company was formed to develop and market an innovative electric shallow dive system that is completely portable to the user. As of June 30, 2018, there were as yet no revenues recognized in the new company as we are in the development stage, however, the Company has been incurring engineering and development costs. In connection with this project, in April 2018, the Company entered into a Patent License Agreement contracting for certain intellectual property rights which we believe will enhance the capabilities of our portable shallow dive system currently under development.