Brownie's Marine Group announced that although it ordinarily does not comment on market activity or market rumors, it knows of no material corporate development to account for the unusual trading activity in its common shares.
“Our products and business plans continue to develop in a challenging market space. A review of our website, market potential and products should influence the confidence level of our supporters and create a more clear understanding of our strategies, values and resources,” CEO Robert Carmichael said in a statement.
The company’s stock has dropped from its 52-week high of $1.90 to a low of $0.0052.
Brownie's and its wholly owned subsidiary, Trebor Industries Inc., doing business as Brownie's Third Lung and based in Fort Lauderdale, designs, tests, manufactures and distributes recreational hookah diving, yacht-based scuba air compressor and Nitrox Generation Systems, and scuba and water safety products.