M&A - Brownie's Marine Group, Inc

Form Type: 10-K

Filing Date: 2025-06-16

Corporate Action: Acquisition

Type: Update

Accession Number: 000164117225015177

Filing Summary: Brownie's Marine Group, Inc., through its wholly owned subsidiaries, designs, tests, manufactures, and distributes various diving and underwater breathing apparatus systems. The Company serves as the exclusive distributor for several partners including Lenhardt & Wagner GmbH and Chrysalis Trading CC. A significant milestone occurred on September 3, 2021, when the Company executed a Merger Agreement with Submersible Acquisition, Inc. and Submersible Systems, Inc. This merger allowed Submersible to become a wholly owned subsidiary of Brownie's Marine Group, enhancing its product offerings in air compressor and nitrox generation fill systems. Notably, the financial results include an aggregate market value of roughly $5,273,810 for non-affiliate common equity as of the most recent quarter, and total shares outstanding reaching 449,566,968 as of June 13, 2025, indicating growth and an active marketplace. The report emphasizes a comprehensive overview of business operations, risk factors, and forward-looking statements that reflect potential challenges in achieving projected performance, responding to changes in the market environment, and maintaining robust internal controls over financial reporting.