Brownie’s Marine says June 30, 2026 quarterly financials no longer reliable, plans 10-Q restatement
Reuters2026/08/24 16:00- 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.
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