Brownie’s Marine Group Inc. (BWMG) shares soar on new diving equipment orders

Posted on: Thursday, July 7th, 2011
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Brownie’s Marine Group Inc. (OTCBB: BWMG) shares jumped 45.5% to 16 cents Thursday, on word of a new product orders. Volume for the stock approached 149,000 shares, much better than the average of below 3,000.

In a release dated July 7, the Fort Lauderdale-based Brownie’s, a leading developer, manufacturer and distributer of highly specialized dive products, announced it has begun the process of fulfilling purchase orders for display and inventory of the Company’s traditional world-class family-dive systems and the Patent-Pending “VS” battery-powered Hookah.

The orders were received from Brownie’s top dealers, including West Marine, Divers-Direct and Yacht diver, some of the nation’s largest specialty retailers of marine supplies and accessories. In addition, the Brownie’s selection of products will be prominently displayed in 14 of West Marine’s key locations.

In the release, Brownie’s CEO Robert Carmichael said, “I am encouraged by our recent sales order trend with our top-level dealers, and feel that our efforts to strengthen our dealer program have provided us with the opportunity to introduce our VS System to a much broader consumer base.

“We believe that the battery-powered devices are considerably more appealing to the average consumer, and are confident that the VS System will receive positive feedback from the dive community.”

Brownie’s Marine Group, Inc. and its wholly-owned subsidiary, Trebor Industries, Inc., d/b/a Brownie’s Third Lung, designs, tests, manufactures and distributes recreational hookah diving, yacht based scuba air compressor and Nitrox Generation Systems, and scuba and water safety products. The Company sells its products both on a wholesale and retail basis and is comprised of three highly specialized dive product groups.

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