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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________&nbsp;</B>&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)<B>
August 16, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROWNIE&rsquo;S MARINE GROUP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 36%; vertical-align: top; padding-top: 5pt; padding-bottom: 5pt; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 1%; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 30%; vertical-align: top; padding-top: 5pt; padding-bottom: 5pt; font-weight: bold; text-align: center">333-99393</TD>
    <TD STYLE="width: 1%; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; padding-top: 5pt; padding-bottom: 5pt; font-weight: bold; text-align: center">90-0226181</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt; padding-bottom: 5pt; text-align: center">(State or Other Jurisdiction<BR> of Incorporation)</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt; padding-bottom: 5pt; text-align: center">(Commission<BR> File Number)</TD>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt; padding-bottom: 5pt; text-align: center">(I.R.S. Employer<BR> Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>940 N.W. 1<SUP>st</SUP> Street, Fort
Lauderdale, Florida 33311</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Office)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(954) 462-5570</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_____________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>Item 2.01 Completion of Acquisition
or Disposition of Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 18, 2011, the Company&rsquo;s
wholly owned subsidiary, Trebor Industries, Inc., entered into a Forbearance Agreement with Branch Banking and Trust Company (&ldquo;BBT&rdquo;)
for the promissory note in the principal amount of $1,000,000 in favor of BBT (the &ldquo;Term Loan&rdquo;) and the promissory
note in the principal amount of $199,991 in favor of BBT (the &ldquo;Second Note&rdquo;). The Term Loan and Second Note are collectively
referred to as the &ldquo;Secured Notes&rdquo;. The Secured Notes are secured by the Company's Fort Lauderdale facilities (the
&ldquo;Facilities&rdquo;) and personally guaranteed by the Company&rsquo;s chief executive officer. As previously disclosed, the
Company failed to bring the Secured Notes current and in January 2011 BBT accelerated the full principal and accrued interest due
under the Secured Notes, as well as initiated collection and legal action. The Forbearance Agreement effectively extended the maturity
date of the Secured Notes to May 22, 2012. The Secured Notes were consolidated under a Consolidated and Restated Promissory Note
in the principal amount of $1,053,993, effective November 22, 2010, (the &ldquo;Consolidated Note&rdquo;). The maturity date of
the Consolidated Note was May 22, 2012. The interest rate on the Consolidated Note was 7.5% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On or about April 27, 2012, the Company
received a default notice from BBT under its Forbearance Agreement and the Consolidated Note. BBT subsequently received judgment
of foreclosure, as the 17th Judicial Circuit of the Circuit Court of Broward County awarded BBT a final judgment in the amount
of $1,123,269.30. On August 16, 2012 the Facilities were sold through a court ordered auction for approximately $824,000, an amount
approximately $300,000 less than the final judgment amount. Until the entire final judgment amount is satisfied, there can be no
assurance that BBT will not take possession of certain of the Company&rsquo;s assets to satisfy the judgment. Further, because
this may be considered a default under the terms and conditions of the Company&rsquo;s convertible debentures, there can be no
assurance that other lenders may not accelerate as due immediately the full outstanding principal, interest and related default
penalties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <TD STYLE="vertical-align: top"></TD>
    <TD COLSPAN="2">BROWNIE&rsquo;S MARINE GROUP,
INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Date: August
20, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Robert Carmichael</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Robert Carmichael<BR>Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v322069_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 13202}]
{"company-data": {"conformed-name": "Brownie's Marine Group, Inc", "cik": "0001166708", "assigned-sic": "3949", "irs-number": "300024898", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-99393", "film-number": "121046451"}, "business-address": {"street1": "940 N.W. 1 STREET", "city": "FT. LAUDERDALE", "state": "FL", "zip": "33311", "phone": "954-462-5570"}, "mail-address": {"street1": "940 N.W. 1 STREET", "city": "FT. LAUDERDALE", "state": "FL", "zip": "33311"}, "former-company": {"former-conformed-name": "UNITED COMPANIES CORP", "date-changed": "20020207"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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)
August 16, 2012
BROWNIE'S MARINE GROUP, INC.
(Exact name of registrant as specified in
its charter)
Nevada
333-99393
90-0226181
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
940 N.W. 1
st
Street, Fort
Lauderdale, Florida 33311
(Address of Principal Executive Office)
(Zip Code)
(954) 462-5570
(Registrant's telephone number, including
area code)
_____________________________________________________________
(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:
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Completion of Acquisition
or Disposition of Assets
On February 18, 2011, the Company's
wholly owned subsidiary, Trebor Industries, Inc., entered into a Forbearance Agreement with Branch Banking and Trust Company ("BBT")
for the promissory note in the principal amount of $1,000,000 in favor of BBT (the "Term Loan") and the promissory
note in the principal amount of $199,991 in favor of BBT (the "Second Note"). The Term Loan and Second Note are collectively
referred to as the "Secured Notes". The Secured Notes are secured by the Company's Fort Lauderdale facilities (the
"Facilities") and personally guaranteed by the Company's chief executive officer. As previously disclosed, the
Company failed to bring the Secured Notes current and in January 2011 BBT accelerated the full principal and accrued interest due
under the Secured Notes, as well as initiated collection and legal action. The Forbearance Agreement effectively extended the maturity
date of the Secured Notes to May 22, 2012. The Secured Notes were consolidated under a Consolidated and Restated Promissory Note
in the principal amount of $1,053,993, effective November 22, 2010, (the "Consolidated Note"). The maturity date of
the Consolidated Note was May 22, 2012. The interest rate on the Consolidated Note was 7.5% per annum.
On or about April 27, 2012, the Company
received a default notice from BBT under its Forbearance Agreement and the Consolidated Note. BBT subsequently received judgment
of foreclosure, as the 17th Judicial Circuit of the Circuit Court of Broward County awarded BBT a final judgment in the amount
of $1,123,269.30. On August 16, 2012 the Facilities were sold through a court ordered auction for approximately $824,000, an amount
approximately $300,000 less than the final judgment amount. Until the entire final judgment amount is satisfied, there can be no
assurance that BBT will not take possession of certain of the Company's assets to satisfy the judgment. Further, because
this may be considered a default under the terms and conditions of the Company's convertible debentures, there can be no
assurance that other lenders may not accelerate as due immediately the full outstanding principal, interest and related default
penalties.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
BROWNIE'S MARINE GROUP,
INC.
Date: August
20, 2012
By:
/s/ Robert Carmichael
Robert Carmichael
Chief Executive Officer