$BWMG

Brownie's Marine Group, Inc

CIK:0001166708|SEC Filings

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total Revenues	$ 2,377,891	$ 2,518,890	$ 4,493,135	$ 4,048,093
Cost of revenues
Total cost of revenues	1,155,920	1,634,032	2,289,035	2,659,204
Gross profit	1,221,971	884,858	2,204,100	1,388,889
Operating expenses
Selling, general and administrative	1,194,507	753,990	2,217,475	1,302,116
Research and development costs	4,748	1,505	8,343	2,647
Total operating expenses	1,199,255	755,495	2,225,817	1,304,763
Income (loss) from operations	22,716	129,363	(21,717)	84,126
Other (income) expense, net	305,021	22,438	851,028	22,438
Interest expense	(109,079)	1,783	(117,622)	(39,305)
Income (Loss) before provision for income taxes	218,658	153,584	711,688	67,259
Provision for income taxes
Net Income (Loss)	$ 218,658	$ 153,584	$ 711,688	$ 67,259
Basic income (loss) per common share	$ 0.00043	$ 0.00034	$ 0.00139	$ 0.00015
Basic weighted average common shares outstanding	512,867,230	449,567,462	512,867,230	449,567,462
Nonrelated Party [Member]
Revenues
Total Revenues	$ 2,201,986	$ 2,455,471	$ 4,155,681	$ 3,775,476
Cost of revenues
Cost of revenues	1,039,306	1,559,197	2,082,603	2,482,484
Royalties expense	38,911	22,688	67,940	48,317
Related Party [Member]
Revenues
Total Revenues	175,905	63,419	337,454	272,617
Cost of revenues
Cost of revenues	58,394	40,222	112,283	112,486
Royalties expense	$ 19,309	$ 11,925	$ 26,209	$ 15,917

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net Income	$ 711,688	$ 67,259
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	36,282	60,931
Amortization of debt discount		1,828
Amortization of right-of-use asset	234,808	201,667
Allowance for Nomad recall
Stock Based Compensation – Options
Shares issued for services	62,000
Shares issued for accrued interest on convertible notes		14,000
Changes in operating assets and liabilities
Change in accounts receivable, net	(315,836)	(182,352)
Change in accounts receivable - related parties	(35,167)	(16,869)
Change in inventory	(24,259)	(163,557)
Change in prepaid expenses and other current assets	(183,566)	90,323
Change in other assets	6,649	0
Change in accounts payable and accrued liabilities	237,961	78,609
Change in customer deposits and unearned revenue	43,005	(148,750)
Change in long term lease liability	(242,924)	(186,723)
Change in other liabilities	(12,924)	219,062
Change in accounts payable - related parties	15,109	441
Net cash provided by operating activities	532,827	35,869
Cash flows from investing activities:
Purchase of fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from issuance of units
Repayment from notes payable	(128,383)
Proceeds of long term debt Repayment on notes payable
Proceeds of debt	2,081
Net cash used in financing activities	(126,303)
Net increase (decrease) in cash	406,523	35,869
Cash, beginning balance	307,886	417,678
Cash, end of period	714,411	453,547
Supplemental disclosures of cash flow information:
Cash Paid for Interest	103,622	21,299
Cash paid for Operating lease liabilities (included in net cash used in operating activities	773,006
Cash Paid for Income Taxes
Supplemental disclosure of non-cash financing activities:
Common Stock issued for payment of convertible note interest
Shares issued for services	62,000
Shares issued for convertible note interest		14,000
Equipment obtained through financing

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash	$ 714,411	$ 307,886
Inventory, net	2,364,190	2,339,931
Prepaid expenses and other current assets	365,939	182,373
Total current assets	4,005,466	3,040,113
Property, equipment and leasehold improvements, net	237,786	237,835
Operating lease right-of-use assets	965,699	1,200,507
Intangible assets, net	404,866	441,099
Goodwill	249,986	249,986
Other assets	45,177	51,826
Total assets	5,908,980	5,221,366
Current liabilities
Accounts payable and accrued liabilities	823,492	585,531
Customer deposits and unearned revenue	199,041	156,036
Other liabilities	144,264	157,188
Operating lease liabilities	517,838	484,078
Related party convertible demand note, net	29,717	29,717
Convertible notes	357,624	355,543
Current maturities long term debt	1,223	174,975
Related party notes payable	505,000	505,000
Total current liabilities	2,606,279	2,461,040
Loans payable, net of current portion	76,566	31,197
Operating lease liabilities	518,173	794,857
Total liabilities	3,201,018	3,287,094
Commitments and contingent liabilities (see note 8)
Stockholders’ equity
Preferred stock; $0.001 par value: 10,000,000 shares authorized; 425,000 issued and outstanding as of June 30, 2026 and December 31, 2025.	425	425
Common stock; $0.0001 par value; 1,000,000,000 shares authorized; 512,867,231 shares issued and outstanding at June 30, 2026 and 503,267,153 shares issued and outstanding at December 31, 2025.	51,288	50,328
Common stock payable 138,941 shares as of June 30, 2026 and December 31, 2025.	14	14
Additional paid-in capital	19,975,903	19,914,863
Accumulated deficit	(17,319,669)	(18,031,358)
Total stockholders’ equity	2,707,960	1,934,272
Total liabilities and stockholders’ equity	5,908,980	5,221,366
Nonrelated Party [Member]
Current Assets
Accounts receivable	505,267	189,431
Related Party [Member]
Current Assets
Accounts receivable	55,659	20,492
Current liabilities
Accounts payable - related parties	$ 28,081	$ 12,972