Summary of Brownie’s Marine Group, Inc.

Business Overview

Brownie’s Marine Group, Inc. is a Florida-based company engaged in the design, testing, manufacturing, and distribution of various underwater and marine safety products and systems. It owns multiple subsidiaries operating in niche segments of the diving, boating, and industrial gas markets.

Core Activities & Subsidiaries

• Surface Supplied Air (SSA): Market leader in gasoline and battery-powered surface supplied dive systems (Brownie’s Third Lung). Offers portable systems that facilitate shallow diving up to 45 feet without bulky gear, aimed at recreational, commercial, and boat builder markets.
• Ultra-Portable Tankless Dive Systems: Through BLU3, Inc., develops and markets compact, battery-powered, tankless diving systems (Nomad, Nomad Mini), sold online via website, Amazon, and dealers globally. These are used for boat maintenance, shore diving, fossil hunting, leak detection, and watersports.
• High Pressure Gas Systems: Via LW Americas, manufactures and supplies yacht-based SCUBA tanks and nitrox generation systems, including yacht compressors, dive lockers, and mixed gas systems. The brand YachtPro™ offers marine diving solutions, including nitrox fill systems.
• Redundant Air Tank Systems: Through Submersible Systems, Inc., provides high-pressure tanks and redundant air systems for military, recreational diving, aviation, and medical markets, with a global dealer/distributor network.
• Guided Tours / Retail: Through Live Blue, Inc. (LBI), operates retail locations, guided watersport tours, training, and watersports product sales. Acquired assets from Gold Coast Scuba in 2022, later sold the retail/trade name in 2024 but continues to promote live blue experiences.

Additional Market & Distributions

• Acts as exclusive distributor in North and South America for Lenhardt & Wagner GmbH compressors used in industrial, military, and aerospace markets.
• Distributes South African-made Bright Weights dive ballast systems.
• Distributes SeaNXT Elite sea scooters made in France, exclusively in North and South America.
• Provides industrial gas solutions including inert gases, oxygen-enriched air (Nitrox), and high-pressure equipment.

Market & Industry

• Operates in the scuba diving equipment market, valued at $2.1 billion in 2023 with a growth forecast of over 4% CAGR from 2024 to 2032.
• Serves the yachting industry, which was valued at approximately $7.67 billion in 2023 with projected growth to $17.33 billion by 2023, and the recreational boating industry projected to grow to $65.9 billion by 2034.
• Competes with companies like Aqua Lung, Coltri, Bauer, and Chinese low-cost competitors in the dive and gas equipment markets.

Employees & Customers

• As of June 2025, the company employs 35 full-time and 2 part-time employees.
• Has approximately 386 shareholders of record as of March 2025.
• Sells products through wholesale and retail channels, including direct-to-consumer online sales via its website and Amazon.
• Has a history of sales to related parties owned by the Chairman’s family, which accounted for about 6.9% of revenue in 2024 and 11.2% in 2023.

Financial Highlights

• Total Revenue: Approximately $8.18 million in 2024, up from $7.58 million in 2023 (an 8% increase).
• Net Loss: Approximately $254,000 in 2024, a reduction from $1.25 million in 2023.
• Gross Profit Margin: Improved to 41.6% in 2024 from 27.8% in 2023.
• Cash & Equivalents: About $418,000 as of December 31, 2024.
• Working Capital: Slightly reduced, with $170,175 as of 2024 end.
• Receivables & Inventory: Increased receivables (~$180,496), inventory (~$2 million).
• Liabilities: Total current liabilities around $2.86 million.

Notes on Operations

• The company faces risks including ongoing losses, dependence on related party revenues, supply chain delays (especially from China), regulatory compliance mainly in manufacturing (DOT), and industry self-regulation.
• Has material weaknesses in internal controls over financial reporting, with efforts underway to improve.
• The company’s “going concern” status is uncertain; it is actively seeking additional capital with no firm commitments yet.

This detailed summary covers the company's core operations, subsidiaries, markets, customer base, and financial condition as publicly disclosed.