Current Report Filing (8-k)
May 19 2021 - 1:20PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) May 18, 2021
Brownie’s
Marine Group, Inc.
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(Exact
name of registrant as specified in its charter)
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Florida
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333-99393
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90-0226181
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
No.)
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3001
NW 25 Avenue, Suite 1, Pompano Beach, FL 33069
(Address
of principal executive offices)(Zip Code)
Registrant’s
telephone number, including area code: (954) 462-5570
(Former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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none
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not
applicable
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not
applicable
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Indicate
by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.02 Termination of a Material Definitive Agreement.
As
previously reported in the Current Report on Form 8-K filed by Brownie’s Marine Group, Inc. (the “Company”) with the
U.S. Securities and Exchange Commission on May 13, 2020, on May 12, 2020, the Company entered into a promissory note evidencing an unsecured
loan (the “PPP Loan”) in the amount of $159,600 made to the Company through South Atlantic Bank (the “Lender”),
under the Paycheck Protection Program (the “PPP”). The PPP was established under the Coronavirus Aid, Relief, and Economic
Security Act and is administered by the U.S. Small Business Administration (“SBA”).
On
May 18, 2021, the Company received a notification from the Lender that the SBA approved the Company’s PPP Loan forgiveness application
for the entire PPP Loan balance of $159,600 and that the remaining PPP Loan balance is zero.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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Brownie’s
Marine Group, Inc.
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Date:
May 19, 2021
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By:
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/s/
Christopher Constable
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Christopher
Constable, Chief Executive Officer
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