Brownie's Marine Group, Inc 8-K

What Happened
Brownie’s Marine Group, Inc. announced on July 1, 2026 that its wholly‑owned subsidiary Live Blue, Inc. completed an asset purchase agreement to acquire substantially all assets of Sunrise Paddleboards LLC. The seller’s sole member is Brian Galton.

Key Details

• Transaction date: July 1, 2026 (Asset Purchase Agreement executed and closed).
• Consideration: 42,000,000 shares of Brownie’s common stock (par $0.0001) issued to the seller at $0.0044 per share, based on the OTC common stock closing price on June 30, 2026.
• Buyer: Live Blue, Inc., a wholly‑owned subsidiary of Brownie’s Marine Group.
• Business acquired: Sunrise Paddleboards’ paddleboarding and kayaking operations, including rental, tours, retail and training; Live Blue also assumed certain liabilities related to those assets.
• The Asset Purchase Agreement is filed as Exhibit 10.1 to the Form 8‑K.

Why It Matters
The deal expands Brownie’s Marine Group’s consumer-facing services into paddleboard and kayak rentals, tours and related retail/training through its Live Blue subsidiary. The acquisition was paid in stock, meaning existing shareholders experience dilution from the 42 million new shares issued; investors should note the size of the share issuance and that liabilities associated with the acquired business were assumed by the company. The filed Asset Purchase Agreement provides the full transaction terms for further review.