In a small bowl, dissolve bouillon into warm water and set aside.
In medium bowl, whisk flour, browning sauce, milk and set aside.
Line a medium pot or large frying pan with a thin layer of water and cook mushrooms over high heat until the mushrooms start to soften and most of the water has evaporated.
Add milk mixture, bouillon mixture, and seasonings, stirring to combine.
Bring to a boil and continue to cook until thick. Add salt and pepper to taste.