Brownie's Marine Group, Inc (BWMG) Financial Statements (2024 and earlier)

Company Profile

Business Address 3001 NW 25TH AVENUE,
POMPANO BEACH, FL 33069
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 3949 - Sporting and Athletic Goods, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4846433457179151
Cash and cash equivalents4846433457179151
Receivables16720114916010660
Inventory, net of allowances, customer advances and progress billings2,4221,895864719723823
Inventory2,4221,895864719723823
Prepaid expense 1496126 19224
Advances on inventory purchases 4316785493928
Other undisclosed current assets      
Total current assets:3,2662,9661,4699989661,286
Noncurrent Assets
Operating lease, right-of-use asset1,133454447545
Property, plant and equipment340270143103427
Intangible assets, net (including goodwill)896969    
Goodwill250250    
Intangible assets, net (excluding goodwill)646719    
Other noncurrent assets3114142026 
Deferred tax assets, net 3
Other undisclosed noncurrent assets      7
Total noncurrent assets:2,4001,7086046683037
TOTAL ASSETS:5,6654,6742,0731,6679961,322
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 829744387519325393
Interest and dividends payable9231710212
Employee-related liabilities16696664829
Accounts payable 504517245414250143
Accrued liabilities 64 2 2 
Other undisclosed accounts payable and accrued liabilities 261522022159
Deferred revenue16814420121
Debt6650311348110390
Other liabilities373188101152142142
Due to related parties8737102264125 
Customer advances and deposits97
Contract with customer, liability246
Other undisclosed current liabilities269232108   
Total current liabilities:1,7921,3961,0291,4039491,022
Noncurrent Liabilities
Long-term debt and lease obligation487650460507  
Long-term debt, excluding current maturities48742712160  
Liabilities, other than long-term debt864     
Operating lease, liability864223339447
Other undisclosed noncurrent liabilities  (223)(339)   
Total noncurrent liabilities:1,351650460507  
Total liabilities:3,1432,0461,4891,9109491,022
Equity
Equity, attributable to parent, including:2,5222,628584(243)47301
Preferred stock000000
Common stock433931231610
Additional paid in capital18,91717,13213,50911,33810,2149,170
Accumulated deficit(16,437)(14,545)(12,956)(11,605)(10,183)(8,880)
Other undisclosed equity, attributable to parent000000
Total equity:2,5222,628584(243)47301
TOTAL LIABILITIES AND EQUITY:5,6654,6742,0731,6679961,322

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues8,5776,2274,5562,9682,5422,029
Revenue, net2,029
Revenue from related parties9821,116838663707
Cost of revenue(5,783)(4,338)(3,092)(2,519)(2,227)(1,423)
Cost of goods and services sold(5,056)(3,570)(2,538)(2,093)(1,809)(934)
Gross profit:2,7941,8901,464448316605
Operating expenses(4,645)(3,742)(2,797)(1,732)(1,327)(820)
Operating loss:(1,850)(1,853)(1,333)(1,284)(1,011)(215)
Nonoperating income (expense)(42)264(19)(138)28934
Interest and debt expense(42)10(19)(131)737
Loss from continuing operations before equity method investments, income taxes:(1,935)(1,578)(1,370)(1,553)(715)(144)
Other undisclosed income (loss) from continuing operations before income taxes42(10)19131(586)(105)
Loss from continuing operations before income taxes:(1,893)(1,588)(1,352)(1,422)(1,300)(249)
Income tax expense     (3) 
Loss from continuing operations:(1,893)(1,588)(1,352)(1,422)(1,303)(249)
Loss before gain (loss) on sale of properties:(1,588)(1,352)(1,422)(1,303)(249)
Other undisclosed net loss      
Net loss:(1,893)(1,588)(1,352)(1,422)(1,303)(249)
Other undisclosed net income attributable to parent      
Net loss available to common stockholders, diluted:(1,893)(1,588)(1,352)(1,422)(1,303)(249)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(1,893)(1,588)(1,352)(1,422)(1,303)(249)
Comprehensive loss:(1,893)(1,588)(1,352)(1,422)(1,303)(249)
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive loss, net of tax, attributable to parent:(1,893)(1,588)(1,352)(1,422)(1,303)(249)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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