On August 14, 2006, about 0945 eastern daylight time, a Cessna 150L, N7255G, registered to, and operated by Crystal Aero Group, as a Title 14 CFR Part 91 instructional flight, incurred damage during a bounced landing at Crystal River Airport, Crystal River, Florida. Visual meteorological conditions prevailed, and no flight plan was filed. The student pilot was not injured, and the airplane incurred substantial damage. The flight originated in Crystal River, the same day, about 0920. The flight instructor stated that he was supervising during the student pilot's first solo flight, and at the time of the flight the winds were light and variable. According to the instructor, after having provided instruction and flown with the student to ensure his readiness, he took a hand-held radio and exited the airplane to supervise the student's first solo flight. The instructor further stated that the student made a good landing, but according to the student, a gust caused the airplane to float up high, and he ballooned. He said the airplane then settled onto the runway surface on the main landing gear and bounced again. According to the instructor, the student did not add power, and on the third bounce the nose of the airplane veered left, and the nose impacted the grass, which collapsed the landing gear and bent the propeller. According the the flight instructor, there were no preaccident anomalies with the airplane or any of its systems.