SOURCE: HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc.

March 16, 2011 08:08 ET

HQ Sustainable Maritime Industries, Inc. to Postpone Fourth Quarter and Fiscal Year 2010 Earnings Release Date

SEATTLE, WA--(Marketwire - March 16, 2011) - HQ Sustainable Maritime Industries, Inc. (NYSE Amex: HQS) ("HQS" or the "Company"), a leading producer and marketer of health products derived from marine based raw materials as well as Tilapia resulting from vertically integrated operations, will postpone the release of their fourth quarter and fiscal year 2010 earnings. The Company will file a Notification of Late Filing on Form 12b-25 with the United States Securities and Exchange Commission for its Annual Report on Form 10-K for the year ended December 31, 2010. The Form 12b-25 will allow the Company an additional 15 calendar days to file the Form 10-K which is otherwise due on March 16, 2011. Details regarding the specific release date and conference call will be provided in a forthcoming news release.

The postponement in filing is due to delays in compiling information for the preparation of the financial statements. The Company fully expects to be able to file within the additional time allowed by the Form 12b-25 and plans to file as soon as possible following the completion of the audit of the financial statements.

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc. ("HQS") is a leader in the production and marketing of health products derived from marine based raw materials as well as Tilapia resulting from vertically integrated operations. HQS practices cooperative farming of sustainable aquaculture, produces all-natural enriched feeds, Tilapia value added products and health products. The Company markets its nutraceutical and health products, including its "Omojo" branded health products through retail and franchise sales in China. Some of these products are now being introduced to the United States. The World Brand Laboratory and also the China Health Care Association have recognized these as China leading Health product brands.

The Company produces and sells certified, value added Seafood products, including "Gluten Free" "Lillian's Healthy Gourmet" products in the United States through its Seattle-based affiliate. US-based sales have been expanded to include "Omojo" health products.

The Company's subsidiaries hold HACCP and GMP certification from the U.S. FDA and the EU Code assignment of quality, permitting its products to be sold in these international markets. It has also achieved the ISO 9001 quality management system standards certification and the ISO 22000 certification for quality in food safety. HQS tilapia farming, processing and feed manufacturing standards met Best Aquaculture Practices, the new Global G.A.P., the Global Partnership for Good Agriculture Practice, standards for Tilapia. The Chinese government gave organic certification to the Company's tilapia processing, production, labeling, marketing and management system. In addition to headquarters in Seattle, HQ has operational and Sales and Marketing offices in Seattle, Newport Beach, Beijing, Shanghai, Hangzhou, Nanning, Changsha, Guangzhou, Shenzhen, Sanya, Zhuhai, Hong Kong, Wenchang and Haikou. The Company's website is www.hqfish.com; with subsidiary products marketing web sites at www.omojohealthusa.com; www.lillianshealthygourmet.com; www.oudun.cc/; www.fishbao.net/; www.jiahuabio.com.

Contact Information

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    Katie Turner
    ICR, Inc.
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