other material
confidence high
sentiment negative
materiality 0.70
Brownie's Marine issues $66,793 convertible note, changes auditor, guarantees lease
Brownie's Marine Group, Inc
- Issued convertible demand note to Robert Carmichael for $66,793; convertible at 35% discount to 90-day VWAP.
- Auditor Liggett & Webb resigned effective Oct 10, 2022; Board engaged Assurance Dimensions for Q3 review.
- Prior audit reports included going concern explanatory paragraph, but no disagreements or reportable events.
- Guaranteed subsidiary Submersible's 5-year lease for 13,000 sq ft in Huntington Beach, CA; initial base rent $17,550/month.