Brownie’s Marine says June 30, 2026 quarterly financials no longer reliable, plans 10-Q restatement
BWMG•Board says quarterly financials should no longer be relied upon
Brownie’s Marine Group’s board determined on Aug. 14, 2026 that the unaudited financial statements in its quarterly Form 10-Q filed Aug. 4 for the quarter ended June 30, 2026 should no longer be relied upon because of accounting and financial reporting errors.
The company plans to file an amended Form 10-Q to restate the affected results.
The main error stemmed from using financial information from the wrong reporting year, skewing revenue and profit metrics.
The restatement would revise operating results for the three months ended June 30, 2026 to income of $22,716 from a loss of $151,080.
Net income for the period would be revised to $218,658 from $580,542.
