It is not meant to be "submerged". It is water-resistant/ splash-proof but not water-proof, meaning, it is not going to work if you dip it into water for a minute. There is a zipper at the bottom that is not air tight and it has usb, power, audio inputs. Water under pressure (if you submerge the speaker) will slip through the zipper, through inputs and will cause the damage. I would not play with that unless curiosity takes over and you have extra $$ to get a new one :)
But i had it near pool, ocean, sand, dust, had water splashed at it, and under mild rain - and it works great as it did. Just dry it out quickly, thats all.
Hope this helps.