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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments419348484577575604
Cash and cash equivalents419348484577575604
Receivables(29)(29)167224352269
Inventory, net of allowances, customer advances and progress billings2,1392,2162,4222,4592,3232,029
Inventory2,1392,2162,4222,4592,3232,029
Prepaid expense   149   
Advances on inventory purchases   43   
Other undisclosed current assets525429 315534395
Total current assets:3,0542,9643,2663,5753,7843,297
Noncurrent Assets
Operating lease, right-of-use asset1,0001,0571,1331,198373397
Property, plant and equipment366389340371292257
Intangible assets, net (including goodwill)860878896915933951
Goodwill250250250250250250
Intangible assets, net (excluding goodwill)610628646665683701
Other noncurrent assets313131201818
Total noncurrent assets:2,2572,3562,4002,5041,6161,623
TOTAL ASSETS:5,3105,3205,6656,0795,3994,920
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:  248298551,205871
Accounts payable  24504   
Accrued liabilities   64   
Other undisclosed accounts payable and accrued liabilities   2618551,205871
Deferred revenue384230168125281248
Debt7111766483847
Due to related parties87663118
Other liabilities348307373229222202
Other undisclosed current liabilities1,088965269268214209
Total current liabilities:1,8911,6431,7921,5911,9911,595
Noncurrent Liabilities
Long-term debt and lease obligation4514704871,383574610
Long-term debt, excluding current maturities451470487453415421
Liabilities, other than long-term debt728793864   
Operating lease, liability728793864930159189
Other undisclosed noncurrent liabilities    (930)(159)(189)
Total noncurrent liabilities:1,1801,2631,3511,383574610
Total liabilities:3,0712,9063,1432,9742,5652,205
Equity
Equity, attributable to parent, including:2,2392,4142,5223,1042,8342,716
Preferred stock000000
Common stock444443424141
Additional paid in capital19,15119,13518,91718,66418,11817,662
Accumulated other comprehensive income (loss)     (9)2
Accumulated deficit(16,955)(16,765)(16,437)(15,602)(15,317)(14,989)
Other undisclosed equity, attributable to parent000000
Total equity:2,2392,4142,5223,1042,8342,716
TOTAL LIABILITIES AND EQUITY:5,3105,3205,6656,0795,3994,920

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues2,0721,6391,3922,8092,4011,975
Cost of revenue(1,446)(1,225)(1,094)(1,852)(1,538)(1,299)
Cost of goods and services sold (1,291)(1,071)(935)(1,668)(1,332)(1,122)
Gross profit:625414299957863676
Operating expenses(795)(727)(1,123)(1,229)(1,182)(1,110)
Operating loss:(170)(313)(825)(273)(319)(434)
Nonoperating expense  (15)(11)(12) (10)
Debt instrument, convertible, beneficial conversion feature    19  
Interest and debt expense(20)(15)(11)(12)(10)(10)
Loss from continuing operations before equity method investments, income taxes:(190)(343)(847)(296)(329)(454)
Other undisclosed income from continuing operations before income taxes  151112 10
Loss from continuing operations:(190)(328)(836)(284)(329)(444)
Loss before gain (loss) on sale of properties:(284)(329)(444)
Other undisclosed net income (loss)  656(2,114)  888
Net income (loss):(190)328(2,950)(284)(329)444
Other undisclosed net income (loss) attributable to parent  (656)2,114  (888)
Net loss available to common stockholders, diluted:(190)(328)(836)(284)(329)(444)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(190)328(2,950)(284)(329)444
Comprehensive income (loss):(190)328(2,950)(284)(329)444
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (656)2,1149(10)(887)
Comprehensive loss, net of tax, attributable to parent:(190)(328)(836)(276)(339)(443)

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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