Mon, Jun 16, 11:25 AM (27 days ago)
**Brownie’s Marine Group, Inc. (BWMG)** **Financial Performance:** - **Revenue:** $8,178,047 in 2024, up 7.88% from 2023. - **Net Income:** Loss of $240,599 in 2024, compared to a loss of $1,248,115 in 2023. - **Operating Expenses:** $3,451,122 in 2024, up 9.0% from 2023. - **Gross Profit Margin:** 41.6% in 2024, up from 27.8% in 2023. **Earnings per Share:** Not explicitly stated, but the company reported a basic and diluted loss per common share of $0.00 for both 2024 and 2023. **Strategic Overview:** - **Products:** Dive systems, rescue air systems, yacht-based SCUBA air compressor systems. - **Subsidiaries:** Trebor Industries, LW Americas, BLU3, Submersible Systems, Live Blue. - **Market Position:** Leader in gasoline and battery-powered surface supplied air diving systems. **Future Outlook:** - **Growth:** Expansion into retail, training, and guided tours through Live Blue. - **Innovation:** Development of new products and technologies. - **Market Expansion:** Focus on diversifying seasonality and geography risks. **Risk Factors:** - **Financial Risks:** History of losses, substantial doubt about continuing as a going concern. - **Operational Risks:** Dependence on key personnel, intellectual property risks. - **Market Risks:** Competition, economic downturns, regulatory changes. **Financial Condition:** - **Liquidity:** Cash of $417,678 as of December 31, 2024. - **Debt:** Significant convertible notes and related party transactions. - **Equity:** Accumulated deficit of $17,940,797 as of December 31, 2024. **Market Position Changes:** - **Industry Trends:** Growth in scuba diving and yachting industries. - **Competitive Landscape:** Moderately competitive with key competitors in various segments. **Note:** The company's financial statements include significant related party transactions and dependencies, which may impact financial performance and condition.