Brownie's Marine issues 48.1M shares to CEO and director for accrued compensation

Brownie's Marine Group, Inc

Issued 24,722,222 shares to CEO Robert Carmichael for $133,500 in accrued board compensation.
Issued 23,400,000 shares to director Charles Hyatt for $117,000 in accrued board compensation.
Total compensation of $250,500 settled with 48,122,222 shares of common stock.
Shares issued in reliance on Section 4(a)(2) exemption from registration.

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