2.4.0.8130 - Disclosure - SECURITIES PURCHASE AGREEMENTtruefalsefalse1false falsefalseP01_01_2013To06_30_2013http://www.sec.gov/CIK0001166708duration2013-01-01T00:00:002013-06-30T00:00:001true 1bwmgd_EquityLineAgreementAbstractbwmgd_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Equity Line Agreement [Abstract]2false 2bwmgd_EquityLineAgreementDisclosureTextBlockbwmgd_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalselabel1falsefalsefalse00 <table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> <table style="clear:both;MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div>24.</div> </td> <td style="TEXT-ALIGN: justify"> <div><u>SECURITIES PURCHASE AGREEMENT</u></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> On April 9, 2013, the Company entered into an equity line agreement for $<font style=" FONT-SIZE: 10pt">5,000,000</font>. Funding under the agreement is subject to certain conditions prior to closing and registration statement on Form S-1.Under the agreement, a purchase commitment fee of <font style=" FONT-SIZE: 10pt">5</font>% of the commitment amount, or $<font style=" FONT-SIZE: 10pt">250,000</font>, is payable in three tranches of restricted shares of common stock. The first tranche representing <font style=" FONT-SIZE: 10pt">50</font>%, or $<font style=" FONT-SIZE: 10pt">125,000</font>, of the commitment fee was payable upon execution of the security purchase agreement. The second tranche of <font style=" FONT-SIZE: 10pt">25</font>%, or $<font style=" FONT-SIZE: 10pt">75,000</font>, is payable 90 days after issuance of the first tranche. The third tranche of <font style=" FONT-SIZE: 10pt">25</font>%, or $75.000, is payable 90 days after issuance of the second tranche. Per the agreement, at no time shall the investor be issued shares of common stock in excess of <font style=" FONT-SIZE: 10pt">9.99</font>% ownership of the outstanding shares of common stock of the Company. Upon successful registration on Form S-1 by the Company, the investor will purchase $5,000,000 in stock from the Company in accordance with terms and conditions of the agreement. Purchase price per the agreement is 85% of market price calculated using the volume weighted average stock price for five consecutive trading days after the Company provides advance notice of purchase request. Advance notices cannot be delivered sooner than ten trading days apart, and at no time my advances result in the investor beneficially owning in excess of 9.99% outstanding shares of common stock of the Company.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="left">As of the three months ended June 30, 2013, the Company had not issued the first tranche of the commitment fee payable in restricted common stock. As a result, <font style=" FONT-SIZE: 10pt">462,963</font> shares of restricted common stock, or $<font style=" FONT-SIZE: 10pt">125,000</font>, are included in stock payable as presented on the face of the statement of stockholders&#8217; deficit at June 30, 2013. The Company capitalized the $<font style=" FONT-SIZE: 10pt">125,000</font> commitment fee, and will amortize over the life of the agreement, or 36 months. For the three months ended June 30, 2013, $<font style=" FONT-SIZE: 10pt">8,680</font> was amortized. The net commitment fee is included in other assets on the balance sheet.</div> </div> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for equity line agreement.No definition available.false0Equity Line Agreement Disclosure [Text Block]falseSECURITIES PURCHASE AGREEMENTUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.browniesmarinegroup.com/role/SecuritiesPurchaseAgreement12