---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-006052"
form_type: "8-K"
ticker: "BWMG"
cik: "0001166708"
company_name: "Brownie's Marine Group, Inc"
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:05:30.534048+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Brownie's Marine Group issues $280K promissory note to director Charles Hyatt at 9.9% interest

## Summary
- Note principal $280,000 issued to director Charles Hyatt on Feb 8, 2024.
- Interest rate 9.9% per annum payable monthly; matures August 7, 2024.
- Proceeds used for general working capital; default interest rate 18%.
- Note prepayable without penalty; default events include insolvency and non-payment.

## SEC filing metadata
- accession: 0001493152-24-006052
- form_type: 8-K
- ticker: BWMG
- cik: 0001166708
- company_name: Brownie's Marine Group, Inc
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1166708/000149315224006052/0001493152-24-006052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1166708/000149315224006052/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-006052
- JSON: https://secwatch.observer/filing/0001493152-24-006052.json
- Plain text: https://secwatch.observer/filing/0001493152-24-006052.txt

## Key facts
- Debt Financings
  Brownie's Marine Group, Inc incurred loan of $280,000 with Charles Hyatt at 9.9% maturing August 7, 2024.
  - Instrument: loan
  - Principal: $280,000
  - Counterparty: Charles Hyatt
  - Rate: 9.9%
  - Maturity: August 7, 2024
  - Event: incurrence
  source text: On February 8, 2024, Brownies Marine Group, Inc. (the “Company”), issued a promissory note (the “Note”) to Charles Hyatt, a director of the Company (the “Lender”) in the principal amount of $280,000. The Note bears interest is payable in monthly installments at the rate of 9.9%per annum and matures on August 7, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1166708/000149315224006052/0001493152-24-006052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.