Brownies Marine Group Company Wide Update

Davie, FL, June 19, 2025 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment, best-in-class water scooters, and high-pressure air and industrial compressors in the marine industry, today announced results for the fiscal fourth quarter and twelve months ending December 31, 2024. Robert Carmichael, CEO of Brownie’s Marine Group, Inc. stated, “Although we are disappointed in the operating results, we are pleased with the product development and re-alignment of resources.

“Ongoing market challenges, a cautious retail and trade channel environment resulted in lower total sales and profitability than desired. We remain focused on our key strategic priorities and the changes necessary for near-term growth—investing in consumer-driven innovation, enhancing our go-to-market with novel solutions ethos, and improving operational efficiencies at the fundamental level,” said Robert Carmichael, Chairman and Chief Executive Officer.

Fundamental Changes:

Headquarters Facility: The Company relocated it south Florida headquarters from Pompano Beach to Davie, Florida just west of the Fort Lauderdale International Air and Sea Port. The 19,000+ Sq. Ft. facility is a free standing, corporate office and manufacturing facility. This climate-controlled facility supports efficient manufacturing, innovation, and future growth. The new layout includes abundant technical areas, vertical storage, and a welcoming product showcase entrance highlighting the BMG portfolio.

Audit Firm, Trading and Reporting:

To modernize financial reporting and increase transparency, Brownie’s engaged Bush & Associates CPA (Henderson, NV) as its independent audit firm. The firm brings a technology-forward, quality-driven approach to audit and assurance services. Additionally, BMG has applied for its OTC Markets listing to be transitioned to the upcoming OTCID platform, expected to go live in July 2025.

OTC Markets Group is introducing OTCID as a new tier that replaces Pink Current, offering clearer distinctions between companies that meet basic disclosure standards and those that do not. The transition marks a pivotal shift toward investor transparency and accountability.

By joining the OTCID Market, we proudly support OTC Markets Group’s mission to distinguish responsible companies that take ownership of their U.S. traded securities and meet elevated disclosure standards.