Every 10-Q that BROWNIE'S MARINE GRP INC (BWMG) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BWMG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BWMG filings page.
Brownie’s Marine Group, Inc. (BWMG) filed Amendment No. 2 to its June 30, 2026 quarterly report to correct the period reference in the explanatory note and several immaterial typographical and percentage errors in equity, cash flow captions, MD&A ratios, and a prior liability figure.
For the six months ended June 30, 2026, the company reported total revenues of $4.49 million versus $4.05 million a year earlier and net income of $711,688 versus $67,259, with basic EPS of $0.00139. Operating cash flow was $532,827, and cash increased to $714,411 with total assets of $5.91 million and total liabilities of $3.20 million. Results benefited from a $494,829 Employee Retention Credit refund recorded in other income. Despite current profitability and a working capital surplus of about $1.4 million, management states that an accumulated deficit of roughly $17.3 million and history of losses raise substantial doubt about the company’s ability to continue as a going concern.
The company continues extensive related-party activity, including convertible notes and royalties owed to entities controlled by its CEO and director financing. Subsequent events include an asset acquisition of Sunrise Paddleboards funded with 42,000,000 new common shares at $0.0044 per share and a new seven-year facility lease with rising annual base rent in Davie, Florida. As of September 10, 2026, common shares outstanding were 557,213,413.
Brownie’s Marine Group, Inc. (BWMG) filed an amended quarterly report for the six months ended June 30, 2026 to restate profit and loss figures and related MD&A. Prior statements for the quarter and six months are superseded and should no longer be relied upon; a related Form 8-K on non-reliance was filed earlier.
After correction, BWMG reports six‑month total revenues of $4.49 million, up from $4.05 million, and net income of $711,688 versus $67,259 a year earlier, with operating cash flow of $532,827. Gross margin improved, and stockholders’ equity rose to $2.71 million from $1.93 million at year-end 2025.
Despite recent profitability and a working capital surplus of about $1.4 million, management discloses an accumulated deficit of about $17.3 million and a history of operating losses, concluding that these conditions raise substantial doubt about the company’s ability to continue as a going concern. Management plans control enhancements and identifies material weaknesses in internal control around financial reporting.
Brownie’s Marine Group designs and manufactures diving and water‑safety equipment through several subsidiaries. For the six months ended June 30, 2026, total revenues were $4,493,135, up 11.0% year over year, driven mainly by BLU3, Brownie’s Third Lung and Submersible Systems, while LW Americas softened.
Cost of revenues fell to 50.9% of sales from 65.7%, lifting gross margin to 49.1%. Net income reached $711,688 versus $67,259 a year earlier, helped by a $494,828.78 Employee Retention Credit refund recorded as other income. Operating cash flow improved to $532,827 and cash grew to $714,411.
Despite positive earnings and working capital of $1,399,187, management states that historical losses and prior cash usage raise substantial doubt about the company’s ability to continue as a going concern. After June 30, Brownie’s expanded into paddleboard and kayak tours by acquiring Sunrise Paddleboards, paying in common stock valued at $0.0044 per share.
Brownie’s Marine Group reported a much stronger quarter for the three months ended March 31, 2026. Total revenues rose to $2,115,244 from $1,529,203 a year earlier, while gross profit nearly doubled to $982,129, lifting gross margin to 46.4% from 38.9%.
The company swung from a net loss of $54,468 to net income of $493,030 and generated operating cash flow of $686,637, helped by a $494,829 Employee Retention Credit. Cash increased to $849,620, contributing to working capital of about $1,141,710 and total stockholders’ equity of $2,442,801.
Despite these improvements, accumulated deficit remained large at $17,538,328, and management again disclosed substantial doubt about the company’s ability to continue as a going concern. Disclosure controls and internal control over financial reporting were deemed ineffective due to multiple material weaknesses.
Brownie’s Marine Group (BWMG) filed its Q3 2025 report, showing lower sales but improved profitability. Total revenues were $2,071,164 for the quarter, down from $2,468,905 a year ago, while gross margin rose to 46.4%. The company generated operating income of $132,938 and net income of $191,666 in Q3.
For the first nine months, Total revenues were $6,119,257 versus $6,466,053 last year, with net income of $277,574 compared to a prior-year loss. The balance sheet lists cash of $479,543, total assets of $5,629,896, total liabilities of $3,725,863, and stockholders’ equity of $1,904,034. As of November 14, 2025, shares outstanding were 453,494,622.
The filing includes a going concern note citing historical losses and liquidity needs despite year-to-date profitability. Related party sales represented 8.4% of net revenues for the nine months ended September 30, 2025.